The Birth of the Federal Reserve – by G. Edward Griffin

The Objectives of the Federal Reserve from The Creature of Jekyll Island.

We have been led to believe that the Federal Reserve is failing in it’s objectives but the reality is it is succeeding magnificently. We just think their objectives are the same as ours, but they are not.

See audio link below – 1910-1913 Federal Reserve System Objectives.

46:00 Objective #1

To stop the erosion of power away from New York. Eliminate small banks.

Objective #2

Reverse the trend of what they call private capital formation. Now that is banker language for which individuals or businesses use their own savings for something instead of going to the bank and borrowing money for it. At the turn of the century there was a trend toward private capital formation – in business particularly, businesses were holding back a certain portion of their dividends each quarter putting that money into a sinking fund, and then as the capital formed they saved more and more money.

Then they used their own money to build a new factory or to launch a new research and development project or whatever. The big banks were extremely concerned over this trend.

They wanted to entice business owners back into the banks to borrow money and they knew that the only way to do that was to lower interest rates.

The Federal Reserve have created flexible money which is money made out of nothing. If you can create money out of nothing, you don’t have to charge a lot of interest on it to show profit, do you? (It is a well known fact that banks make more profits during periods of low interest than high interest rates.)

50:00 Objective #3

To pass on the inevitable bank losses onto tax payers in the name of protecting the people. The game is called bailout. These are the true objectives of the Federal Reserve. And they are playing the game beautifully.

We can read in the book titled ‘How privatized banking really works’ how economists have calculated that if just 10% of the population of the USA owns their own private banking system, the Federal Reserve will not be able to continue functioning.

This is the real and most effective solution I have found to date and I believe it is our only way out of becoming slaves to the government and those that are in profitable relations with the government.

Page 352 of How Privatized Banking Really Works reads as follows:

The practice of IBC (Infinite Banking Concept)is not a panacea. Even if large numbers began financing their major purchases exclusively through dividends or policy loans, the Federal Reserve would still have the ability to create unlimited quantities of money by keystroke, and the commercial banks would still find willing borrowers if they cut interest rates enough.

Even so, as more and more households begin practicing IBC, we will see three major effects:

First,

the idea of privatized banking – one of the planks in the Sound Money Solution – will seem less far-fetched.

Second,

a growing number of households will become financially independent. Their bondage under the current debt-based system will be broken, and they will not be nearly as vulnerable to the credit whipsaws unleashed by the Federal Reserve.

Third,

as more and more people add sizable life insurance policies to their long-term financial plans, the public agitation against inflationary policies and deficit spending will be stronger. The practitioners of IBC will find it in their great personal interest to aid the Austrians and other champions of sound money, because the value of their insurance would be enhanced with a stronger dollar.

Page 355

Not only does the switch to insurance financing make sense at the individual level, but it also contributes toward the ultimate solution – to remove government intervention from money and banking altogether.

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We will probably never return to the gold standard but what we can do, which is the next best thing, is control our own money. We can do that by Becoming Our Own Banker with other economically like-minded people who have contracted with each other for the same goal. You can create your own markets.

Page 19 of How Privatized Banking Really Works states:

Our Money is not Fully in Our Control. The Central Bank of the United States-the Federal Reserve- has a complete monopoly on our money and it is mandated by our federal government. This domination of our entire monetary system has had severe economic and moral ramifications.

The effects of this monopoly are the prime reason why the value of our money has fallen some 95% since the Federal Reserves founding in 1913 and it is the direct cause of our current financial crisis.

We cannot hope to begin to think and see money with clarity until this realization is exposed and fully understood.

UPDATE on the above video.

Police know the Fed is a Private Organization

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October 10, 2010 · Jennifer · 2 Comments
Tags: , , , , , , , , , , , ,  · Posted in: Birth of the Federal Reserve, BOOK RECOMMENDATIONS, Creature from Jekyll Island - Audio, FINANCIAL EDUCATION 101, Griffin - Birth of Federal Reserve, OBJECTIVES of the FEDERAL RESERVE, VIDEOS

2 Responses

  1. Nick Perez - November 15, 2014

    Great blog Jennifer. You are a smart lady and an ally. I would love to keep in touch. Are you a believer in the Bible?

  2. Jennifer - November 15, 2014

    Hi Nick,

    Thanks for visiting my blog and I am glad you like the information. I am happy to be in touch with you when ever you are ready or have questions etc. The question about whether I believe in the Bible has a long and in-depth answer in my mind. I was brought up Presbyterian. I will add to this answer over time because I have a lot to share but am the type who cannot write all my thoughts all at once but need to do so over a period of time. I certainly believe as you sow, so shall you reap and the Kingdom of Heaven dwells within. I believe in cultivating the virtues God has given us human beings and fighting the inner battle that needs to be fought so we can protect those virtues. However, I do not believe in fighting religious wars over one religious people saying their religion is better than another and therefore it is OK to hurt someone who does not believe the same as you. I live with integrity, respect for all while using my discrimination as to whether I should or should not do business or have any form of relationship with certain individuals. I attract the highest quality people into my life and believe the world is as you see it. So if you see it as as beautiful display of God’s Glory, it will be and life will greet you back with the same attitude. That is all I have to say right now. More to come.

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