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The Creature From Jekyll Island: A Second Look At the Federal Reserve

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This is the most important economic textbook since Marx wrote Das Capital. Whereas Marx goes great lengths explaining all the problems concerning the *production cycles* of capitalism, Griffin explains the *money supply* side. And this ends up being even more disturbing. Griffin explains that money is created "out of nothing", worse even, out of "less than nothing", out of DEBT. Whenever the government is in need of money, they "lend" it to the Federal Reserve, which, by the way, isn't a government institution, but a cartel of private banks, invented by the Rockefeller and Morgan families in Jekyll Island in 1910 and established by Congress in 1913. This Fed "creates" the money the government needs in the form of government bonds, ultimately made out of "paper and ink". Government then spends this money (payment to contractors etc.) and this money ends up as deposits in private bank accounts, where it is used in turn to back up private loans. More money is created "out of nothing", since banks typically lend 9 dollars for each dollar they have in deposit ! As you can see, all money is created out of debt. Would all debts be paid, all money would literally... disappear... Money which is not backed up by gold is thus an illusion.

Now, governments do all what is in their power to be indebted. Remember Bush and Obama rescued "Banks Too Big To Fail" (sic) and other Big Corporations, each time with more than 700 billion USD, without even raising taxes ! They even did better ! They lowered taxes at the same time ! Ever wondered how they perform this fascinating trick? Read this important book. Griffin shows that recollecting taxes isn't really necessary. But we DO end up paying those bills, every time government decides to "create money out of nothing". Don't be mistaken. Every time our governments expand the money supply, inflation goes up, and our money ends up being worth less. In 1966, when Greenspan was still a brilliant economist and not a corrupted chairman of the Fed, he called inflation a "hidden confiscation of wealth".

The first edition of Griffin's book was published in 1994, and has very important historical explanations and references. If you - like me - heard once too much that the actual crisis is similar to the Great Depression of the `30s, and always wanted to know what really happened then, then this book will sort it all out. As a *complementary work* in which the current crisis is explained in great detail, I would also highly recommend Kevin Phillips Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism.

What exactly is the Federal Reserve (or "Fed," for short), and what exactly does it do? Where does our money come from? What do banks actually do? Very few Americans - including (perhaps especially) our puppet political leaders - can accurately answer these questions. G. Edward Griffin skillfully gives you all the shocking answers in this book.

Griffin writes very well and manages to make subjects as supposedly arcane as money and banking into things that any literate layman can understand. Besides the complete history of the Fed, Griffin also provides some general history of banking and money which puts it all in context. As a historian, I can tell you that his facts are mostly spot-on, as are his economic analyses. Griffin cites the sources and quotes people to back up most of his claims. Furthermore, to his credit, on the few occasions in the book when he does speculate or theorize, Griffin makes it clear that he is speculating or theorizing - unlike many other authors.

This is not just dry history, though - Griffin clearly has a point of view, and it's decidedly anti-Fed. Here are his reasons for wanting to abolish the Federal Reserve:
1. It is incapable of accomplishing its stated objectives (which are basically moderating the business cycle and maintaining a stable dollar - it has clearly failed on both counts.)
2. It is a cartel operating against the public interest.
3. It is the supreme instrument of usury.
4. It encourages our most unfair tax (ie, inflation.)
5. It encourages war.
6. It destabilizes the economy.
7. It is an instrument of totalitarianism.

The things that are happening in our economy and government today may not seem to make much sense - until you read this book. Once you know the truth about the Fed, once you understand how you are being swindled and exploited, you will probably become angry and radicalized. Be forewarned: If you'd rather just stay asleep, then don't read this book. It would be very hard to read it and not come away as some sort of revolutionary. (Unless you already are one, of course.)

This should open the eyes of anyone who believes the government can, or even has any interest in the economic well being of ordinary people. It makes clear how the secretly formed cabal between the federal government, the nation's major banks, and the stealthy formed and secretive Federal Reserve continuously defraud American citizens. Anyone who wonders why Thomas Jefferson feared the power of banking institutions and why Andrew Jackson fought and killed the Bank of the United States will find the answer in this expose of the Fed, which is nothing more than a successor central bank to its evil predecessor. That bank existed, as does the Fed, to channel the nation's power and wealth to a permanent oligarchy to which common people always are subject irrespective of the fact that -- because of the success of the ongoing subterfuge -- most are not aware of, and do not recognize their subservience. The book does contain some factual errors, most of which are technical in nature, but they are minor and do not detract from the book's value as an eye opening expose of commonly accepted economic and financial myths.

I have read several books on the problems that our economy and monetary system is going through today. This book takes you through the history of money and politics behind the Federal Reserve and The World Bank. If you want to understand how we got into this mess and how we should get out of it, this book is for you. A word of warning, it is going to scare you. The Creature is very engrained in our system and it is not going to be easy to get it out, if at all.

Because of it's size, I was slow to read this one, but BOY when I started, I COULDN'T PUT IT DOWN. I have since researched a lot of of what's in this book, and was I shocked to find that so far, it's all been correct. This book is a serious eye opener, and should be read by everyone. I'm no extremist, but I have to tell you, it could make you change your mind about how America really works, and it IS INDEED Extreme.

If you can't take the heat, leave this one alone, if you want some serious information, READ IT, you won't be let down.

I would like to see my entire family read this book.

I will write a full review in the near future. However, at this point it will suffice to say that this book should be required reading for every high school student in the country.

Completing a four year business degree in finance, as I did, does not begin to provide as full an understanding of our financial system as this work does in a brief 600 pages.

Read this book, understand the way the world works.

THE CREATURE FROM JEKYLL ISLAND is a fascinating look into the history of the United States Federal Reserve system and the power brokers who created, funded and have profited from it. CREATURE reads more like a suspense novel than a history or economics tour de force. Griffin gives a riveting, behind-the-scenes glimpse into the people and politics of America's economy.

Griffin details the history of the secret meetings, the dark conspiracies and powerful families who created and drove the federal banking system, manipulating the system for their own profit. Conspiracy theorists will regard CREATURE as their proof text. And this fellow makes many good points. You don't have to swallow everything he writes hook, line and sinker to learn a great deal from the book.

Griffen defines money in four forms:
1. Commodity money (silver coins or gold pieces)
2. Receipt money (paper money backed by 100% by gold or silver reserves)
3. Fractional money (paper money partially backed by gold or silver reserves)
4. Fiat money (paper money not backed by precious metals and required to use by decree)

In the United States of America, we are living in the age of fiat money. The American dollar has no intrinsic value. Our currency is no longer backed by gold or silver but is the recognized and required by the federal government as legal tender. In fact, our money is backed by no assets; it is backed by debt. The U.S. money supply is simply created out of thin air by the Federal Reserve for Congress to spend as it wishes with no regard for its value, supply, or repayment.

The operating schemes of unlimited supplies of money, unlimited spending, and increasing national debt, suit the purposes of those who profit from it: the banks which sponsor and broker the activity. One wonders, then why taxes are necessary at all. Griffen maintains that taxes serve two purposes:
1. To fool the public into believing it is paying for government spending and
2. To enable social planners (socialists) to wage war on the middle class

The nature of evil is the impulse to power over others. And this struggle is all about power and control. At this time in history, the greatest problem is the growing dependence of more and more citizens on their friendly, motherly federal government. "When people can vote on issues involving the transfer of wealth to themselves from others, the ballot box becomes a weapon with which the majority plunders the minority."

The final piece of this long and fascinating conspiracy against the citizenry requires a central government unrestrained. This requires a war. The war of choice for the present leadership is the environmental movement. Several years ago, Griffen predicated that "fraudulent scientific studies" would fuel the politicians' appetite for an enemy. The threat of doom would empower the central government to seize the leverage it needed to socialize the economy and lead the public into a doomsday scenario. Couple with failing banks and bailout of private industries, the politicians and back-room power brokers would seize the opportunity to destroy the greatest asset of a people and free markets: their freedom. How could Griffen know this many years before the Great Recession of 2008 and Copenhagen 15?

THE MORE I LEARN ABOUT THE HOUSE OF CARDS UPON WHICH THE U.S. FINANCIAL SYSTEM IS BASED , THE MORE UPSET I GET. THE BOOK IS MARVELOUS, EASY TO READ AND BEAUTIFULLY WRITTEN.

I purchased "The Creature From Jekyll Island: A Second Look At the Federal Reserve" on the basis of recommendations from a cousin. He was right! Most of us who have been through school will know and/or remember a lot of this information. However, there are many details we may never have known or have forgotten. When one takes all of the information into consideration a picture is created, one of deceit and abuse by many of those we have trusted with our country and lives. This book is a must read regardless of one's politics. The only way to fix our roller-coaster to oblivion is to understand what was done and what is being done even now.

Please make every excuse not to read this book, the 2nd chapter is titled "The Name of the Game is BAILOUT" it was written in 1994.
Stay in the dark, remain being the fool, there is no reason for anyone to understand anything, go and read People magazine for info.
By the way go to the source to buy the book, it's cheaper