In the beginning J.P Morgan created the Fed … well kind of. In November 1910, at the behest of financier J. P. Morgan, a hand-picked group met. They were bankers and politicians. At a hunting camp on Jekyll Island, Georgia they met. There were six men: Nelson Aldrich, A. Piatt Andrew, Henry Davison, Arthur Shelton, Frank Vanderlip and Paul Warburg. There they wrote a plan to reform the nation’s banking system.
Brainchild or Brainfart?
Their brainchild became the Federal Reserve Bank of the United States “The Fed.” At the time, these men believed America’s banking system suffered from serious problems. The Jekyll Island participants’ views on this issue are well known. Before and after their conclave, several spoke publicly and others published extensively on the topic. Collectively, they encapsulated their concerns in the plan they wrote. The reports of the National Monetary Commission also include them.
Whether by intent or by blunder, they gave their new “Fed” a license to steal. Quite literally that is what they did. By empowering the Fed with certain tools bankers gain advantage. Those tools include power to regulate interest rates, to print U.S. paper dollars at will, and to create both booms and busts in the economy at the Fed’s own pleasure. Their creation was an extra-governmental device to control the money supply of America.
Who is in control?
The participants at the Jekyll Island meeting gave themselves a tremendous windfall. They, the financial community, not the American people or the U.S. government would own the Fed. This creation is governmental in nature, but not answerable to the people. It is certainly a usurpation of a power our constitution specifically designates.
If the fact that bankers not the U.S. government own the Fed surprises you, it is time to wake up. The media, then as now, has done its best to hide this truth. Despite what most people believe, the Federal Reserve was created by the financial community. It is owned by the financial community. And for over 100 years, has been operated for the benefit of the financial community. Don’t misunderstand. They have powerful allies in Congress, the White House and the political community.
The supporters
Within three years of the initial meeting Congress made the Jekyll Island plan law. Woodrow Wilson put his signature on the bill. Wilson was a Progressive who did not believe in the U.S. Constitution. He thought the best and brightest among us should lead and the rest should follow. He wanted to convert America to a parliamentary style of government rather than cleaving to the values and principles of the constitution.
Buyer’s remorse
Six years later, Wilson saw the error with respect to the FED and repented.
Congressman Louis McFadden said,
“A world banking system was being set up here, a super state controlled by international bankers acting together to enslave the world for their own pleasure. The Fed has usurped the government.”
Far too late, both Wilson and McFadden discover the truth of Mayer Amschel Rothschild’s words:
“Give me control of a nation’s money supply and I care not who makes its laws.”
Conclusion
But… Pandora’s Box was open. We are seeing the results of this powerful institution’s war on your liberty and prosperity. Today we wrestle with the result… In the beginning J.P Morgan created the Fed and it seemed like a pretty good idea… at first.