The Creature from Jekyll Island
- Thread starter DrPepper
- Start date
The part of the statement that says this:
"Fed ... lends it [money] out to make a profit on the interest. The Fed wants governments, corporations and individuals to be in debt to maximize the Fed's interest income."
That's bullsh1t.
Sure...
I think we've had a few discussions of these subjects with various people in the past. I would be happy to watch the video and tell you what I think of it.
I am about half-way through The Creature from Jekyll Island but decided to temporarily skip to the end. The book was initially published in 1994, but the author accurately predicted the current flawed economic system leading to a banking crisis and large federal bailouts. He goes on to predict many of the things that people are now worried about, including hyperinflation, economic collapse, a new global currency and domestic violence. This video interviewing the author of The Creature from Jekyll Island, G. Edward Griffin, is not nearly as detailed as the 600 page book, but it is a fascinating summary:
<embed id=VideoPlayback src=http://video.google.com/googleplayer.swf?docid=6507136891691870450&hl=en&fs=true style=width:400px;height:326px allowFullScreen=true allowScriptAccess=always type=application/x-shockwave-flash> </embed>
<embed id=VideoPlayback src=http://video.google.com/googleplayer.swf?docid=6507136891691870450&hl=en&fs=true style=width:400px;height:326px allowFullScreen=true allowScriptAccess=always type=application/x-shockwave-flash> </embed>
http://en.wikipedia.org/wiki/Federal_Reserve_System
Easy read
"Current functions of the Federal Reserve System include:[6][30]
To address the problem of banking panics
To serve as the central bank for the United States
To strike a balance between private interests of banks and the centralized responsibility of government
To supervise and regulate banking institutions
To protect the credit rights of consumers
To manage the nation's money supply through monetary policy to achieve the sometimes-conflicting goals of
maximum employment
stable prices, including prevention of either inflation or deflation[31]
moderate long-term interest rates
To maintain the stability of the financial system and contain systemic risk in financial markets
To provide financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system
To facilitate the exchange of payments among regions
To respond to local liquidity needs
To strengthen U.S. standing in the world economy
"
Easy read
"Current functions of the Federal Reserve System include:[6][30]
To address the problem of banking panics
To serve as the central bank for the United States
To strike a balance between private interests of banks and the centralized responsibility of government
To supervise and regulate banking institutions
To protect the credit rights of consumers
To manage the nation's money supply through monetary policy to achieve the sometimes-conflicting goals of
maximum employment
stable prices, including prevention of either inflation or deflation[31]
moderate long-term interest rates
To maintain the stability of the financial system and contain systemic risk in financial markets
To provide financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system
To facilitate the exchange of payments among regions
To respond to local liquidity needs
To strengthen U.S. standing in the world economy
"
I disagree. I doubt that the average person has an attention span of even 90 seconds.
Nevertheless, for anyone who wants to understand how the Federal Reserve works and why economic events are unfolding as they are, this video is a great start.
Edward Griffin states that the only solution to our economic problems is to return to the gold/silver standard. If the dollar continues to decline at its current rate, that could just happen.