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The Federal Reserve Is Holding A Conference On Jekyll Island To Celebrate 100 Years Of Dominating America: “A Return to Jekyll Island: The Origins, History, and Future of the Federal Reserve”

The Federal Reserve is going back to Jekyll Island to celebrate the 100 year anniversary of the infamous 1910 Jekyll Island meeting that spawned the draft legislation that would ultimately create the U.S. Federal Reserve.  The title of this conference is “A Return to Jekyll Island: The Origins, History, and Future of the Federal Reserve”, and it will be held on November 5th and 6th in the exact same building where the original 1910 meeting occurred.  In November 1910, the original gathering at Jekyll Island included U.S. Senator Nelson W. Aldrich, Assistant Secretary of the Treasury Department A.P. Andrews and many representatives from the upper crust of the U.S. banking establishment.  That meeting was held in an environment of absolute and total secrecy.  100 years later, Federal Reserve bureaucrats will return to Jekyll Island once again to “celebrate” the history and the future of the Federal Reserve.

Sadly, most Americans have no idea how the Federal Reserve came into being.  Forbes magazine founder Bertie Charles Forbes was perhaps the first writer to describe the secretive nature of the original gathering on Jekyll Island in a national publication…. 

Picture a party of the nation’s greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily riding hundred of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned, lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written… The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New York’s ubiquitous reporters had been foiled… Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry… Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality.

It was a system that was designed by the bankers and for the bankers.  Now, the bureaucrats running the system are returning to Jekyll Island to congratulate themselves.  Those attending the conference on November 5th and 6th include Federal Reserve Chairman Ben Bernanke, former Fed Chairman Alan Greenspan, Goldman Sachs managing director E. Gerald Corrigan and the heads of the various regional Federal Reserve banks.  You can view the entire agenda of the conference right here.  It looks like that there will be plenty of hors d’oeuvres to go around, but should the Federal Reserve really be celebrating their accomplishments at a time when the U.S. economy is literally falling to pieces?

Today, 63 percent of Americans do not think that they will be able to maintain their current standard of living.  1.47 million Americans have been unemployed for more than 99 weeks.  We are facing a complete and total economic disaster.

Today, the Federal Reserve has more power over the economy than any other single institution in the United States.  It is the Fed that primarily determines if we will see high inflation or low inflation, whether the money supply with expand or contract and whether we will have high interest rates or low interest rates.  The President and the U.S. Congress have far less power to influence the economy than the Federal Reserve does.

As this election has demonstrated, the American people are absolutely furious about the state of the U.S. economy, but American voters have been mostly blaming our politicians.  They just don’t understand that it is actually the Federal Reserve that has the most control over the performance of the economy.

It would be hard to understate how powerful the U.S. Federal Reserve really is in 2010.  U.S. Representative Ron Paul recently told MSNBC that he believes that the Federal Reserve is actually more powerful than Congress…..

“The regulations should be on the Federal Reserve. We should have transparency of the Federal Reserve. They can create trillions of dollars to bail out their friends, and we don’t even have any transparency of this. They’re more powerful than the Congress.”

So how has the Federal Reserve performed over the years?

Well, since 1913 inflation has been on a relentless march upwards, U.S. government debt has increased exponentially and the U.S. dollar has lost over 96 percent of its value.

That is not a record to be celebrating.

The truth is that the Federal Reserve was created to enslave the United States government in an endlessly expanding spiral of debt from which it would never be able to escape.  As I wrote about yesterday, that is exactly what has happened.  The U.S. government debt is escalating at an exponential rate.  It is a trap from which the U.S. government will never be able to get out of under our current system.

Now many at the Federal Reserve are touting more “quantitative easing” as the solution to our economic problems.  But anyone with a brain should be able to see that creating a gigantic pile of paper money out of thin air and dumping it into the economy is only going to make our long-term problems even worse.

But the Federal Reserve system was never designed to benefit the American people.  It was designed to make massive amounts of money for the banking establishment.  As I wrote about in “11 Reasons Why The Federal Reserve Is Bad“, the Federal Reserve was created to transfer wealth from the American people to the U.S. government and from the U.S. government to the super wealthy.

The sad truth is that the Federal Reserve is at the very core of our economic and financial problems, and that is nothing to celebrate.

  • GrapesOf WrathAreHereAgain

    Do you still get a free toaster if you accept one of these ‘quantitative easing’ offers? The dollars would soon be worthless but that toaster would beat having to brown your bread over a hobo stove!

  • http://brunolem.wordpress.com Brunolem

    There is a possibility that the Fed really want to destroy the dollar, by means of hyperinflation, in order to get rid of the US debts.

    The first step is to induce a loss of trust in the dollar, not a simple feat, given the quasi-religious fervor this currency benefits from.

    As a matter of fact, it is incredible that after all the money creation of the past 2 years, the dollar is still doing quite well.

    Yet, sooner or later, investors will come to their senses and so will commodities exporters.

    Once the trust lost, things could unravel pretty quickly.

    And after the storm has swept away most of the US debts, the government would come up like a penitent, with a new currency, as the French did in 1960, and an “austerity” plan, in order to show that they are meaning it.

    Click on my name to visit my blog.

  • Gary

    there are a few “haves”, a lot of “have nots”, and an increasing amount of “never wills”

    The Federal Reserve needs to focus on the full employment part of its mandate so wages can be driven up. But wait-that will hurt the rich, they will have to make less money oh so terrible, I guess they should only concern themselves with inflation.

  • orin oppermann

    President JFK had an Executive Order ready to sign into law to abolish the Federal Reserve, he failed to sign it days before he was killed in Dallas. The Federal Reserve System is the most dangerous single item there is to our existence as a nation. It needs to be put into the “dust bin” of history.

  • H8TheFed

    The Federal Reserve needs to terminated. We should get rid of the IRS at the same time. The IRS was created to service the interest on the debt created by the federal reserve was it not? How do We the People accomplish a return to a sovereign nation and currency when the executive, legislative and judicial branches of the existing Federal Government are owned by the very entities we wish to rid ourselves of? I hope there is an answer out there.

  • http://Null Wamik

    Money lenders have harassed every US president who came in their way to establish this unstable economic model,be it jackson lincoln or kennedy who ever came in their way they finished him.Federal reserve is the most powerful institution in world keep america a side.These people have created world bank and IMF on the same lines and with the same mission along with world’s most “Credible” org UN which has not been able to solve a single conflict nor have they prevented a single war.

  • http://theeconomiccollapseblog.com/archives/the-federal-reserve-is-holding-a-conference-on-jekyll-island-to-celebrate-100-years-of-dominating-america-a-return-to-jekyll-island-the-origins-history-and- Bamby

    OK this is my take on this subject, since all the Governments liabilities and expenses are projected on the current levels of the American workers pay. And they can’t squeeze anymore out of the worker and individual workers productivity has now been pretty much maxed out at this point. They’ve now decided it would now be in their best interest to deflate our currency to third world standards to more or less match wages paid to workers in third world countries. No we won’t be making any more money than we are now but our actual wages after inflation will only have the purchasing power similar to our contemporaries in the other nations. While this may mean it will cost an hour’s wages to purchase a loaf of bread, it will in effect keep the same amount of cash flow to Wall Street and our Federal, State, and Local Government to support their budget needs. So fellow Americans be happy at least they’re not going to cut minimum wages here, they’re just going to make minimum wage “more worthless” here.

  • William

    If you do not know the name and background of Adam Weishaupt, you know little. This has all been underway since the late 18th century. The FED has just about achieved its goal, and that is destruction of the dollar and the enslavement of American citizens.

  • William Hinderliter

    I couldn´t agree with you more!

  • Just Observing

    Seriously Gary….what the heck can the FED do about employment ? Or the government for that matter ?

    They all hoop and holler about it, but when it comes right down to brass tacks, they can’t do a damn thing about employment. Employers are going to employee people to make stuff or do a service WHEN THERE IS A MARKET FOR THE STUFF.

    The ONLY tool the FED has is inflation. They keep expanding the money supply and hope people are fooled into thinking that the house they bought in 1970 for 20k and is now ‘worth’ 150k is some kind of real growth.

  • Matt

    Gary,
    The problem is not “the rich”, it is “the corrupt”. Some of “the rich” are also in “the corrupt”, but not all of “the rich”. It is the good “rich” that make this country work and that should be applauded, not castigated like you are doing. You just throw a blanket over all “the rich” and set it on fire, burning “the good” as well as “the corrupt”. I focus on “the corrupt” whether they are rich, middle-class, or poor.

  • Steve

    As I have said before and will say again. You get rid of the Federal Reserve and we get rid of most if not all of our fiscal problems in our great country.

    Congress has the powers granted to it in the Constitution to do the same thing the Federal Reserve does only at ZERO cost to “We The People”.

  • Mr Carpenter

    Brunolem, if this is their plan, they are barking up the wrong tree.

    Did you not see a few weeks ago, that the “last” reparations payment was made by Germany for “causing” World War I?

    The Weimar Republic of Germany quite obviously hyper-inflated their way out of paying for the onorous debt laid upon them by the victors against them (principally under the urgings of the French and British, against the advice of the Americans) and the people in charge of the economy of Germany knew PRECISELY what they were doing and even came out and said “if they want Marks, Marks they shall have”.

    The debtors said “sorry, wrong answer; we want REAL repayment in REAL currencies” and even Hitler stopped payments for awhile – but eventually (some 65 years later), the debt holder got their blood out of the debtor.

    So I would say that trying to hyperinflate our way out of debt is a fool’s game.

    But then I’ve said for 30 years that the people “in charge” of the government and finances of the Untied Status of Amerika, are “fools”.

  • happy face

    Let’s see what kind of spine this new Congress has. Time to for the show to begin.

    If they don’t put out or can’t get enough momentum to act, we will have to hold on til 2012.

    Hold on.

  • Jim FitzGerald

    Re: orin oppermann,
    Can you cite a source or sources for your claim?
    I hope they will be reliable ones!

  • yardfarmer
  • Just Observing

    Opperman is most likely reffering to EO 11110, which Kennedy DID sign, and which put the ‘red seal’ US Notes into circulation in 1963. By doing this, he was issuing a competing note, back by silver, and without interest due to a private banking cartel. It would have had the effect of ending the use of Federal Reserve Notes, and thus, the source of power of the FED.

    Of, course, Kennedy soon met an untimely death due to “a lone gunman” with super human rifle skills, and these notes were recalled from circulation shortly thereafter.

    Executive Order 11110

    AMENDMENT OF EXECUTIVE ORDER NO. 10289 AS AMENDED, RELATING TO THE PERFORMANCE OF CERTAIN FUNCTIONS AFFECTING THE DEPARTMENT OF THE TREASURY. By virtue of the authority vested in me by section 301 of title 3 of the United States Code, it is ordered as follows:

    SECTION 1. Executive Order No. 10289 of September 19, 1951, as amended, is hereby further amended – (a) By adding at the end of paragraph 1 thereof the following subparagraph (j): “(j) The authority vested in the President by paragraph (b) of section 43 of the Act of May 12, 1933, as amended (31 U.S.C. 821 (b)), to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury not then held for redemption of any outstanding silver certificates, to prescribe the denominations of such silver certificates, and to coin standard silver dollars and subsidiary silver currency for their redemption,” and (b) By revoking subparagraphs (b) and (c) of paragraph 2 thereof. SECTION 2. The amendment made by this Order shall not affect any act done, or any right accruing or accrued or any suit or proceeding had or commenced in any civil or criminal cause prior to the date of this Order but all such liabilities shall continue and may be enforced as if said amendments had not been made.

    JOHN F. KENNEDY THE WHITE HOUSE, June 4, 1963

  • http://thecivillibertarian.blogspot.com/ Something Wicked This Way Comes

    Jim, I had read somewhere…that in fact Kennedy was going to eliminate the FED. I’m glad you asked, I am going to research that. Maybe post a little on it…

  • Matt

    Surely you jest by not speculating more on what they are doing there this time around. The 10 years is a red herring. The circumstances that we find ourselves in tell us they are doing more planning. Probably to usher in the proverbial one-world currency, and/or the demise of the dollar.

  • http://www.jesus-is-savior.com/Evils%20in%20Government/Federal%20Reserve%20Scam/kennedy_killed_by_bankers.htm Jenn

    Kennedy was killed by the bankers

  • John W. Tobin

    Jim FitzGerald
    November 3rd, 2010 at 5:02 pm
    Re: orin oppermann,
    Can you cite a source or sources for your claim?
    I hope they will be reliable ones!
    Jim, search Kennedy executive orders.

  • Gary

    Matt-your point is well taken. thanks.

    The good rich statement seems to be an oxymoron but I will grant that there may be some good rich somewhere. maybe…

    As I see it the vast majority (over 90%) of the rich are corrupt and got their wealth by exploiting others such as stealing productivity increases that should have gone to increasing workers wages. Because it is reported that wages have been stagnating for most everyone for years I am led to believe that the vast majority of the rich need to be cheating the workers for wages to overall stagnate. 1-2 bad rich could not have this large of an effect thereby leading me to conclude that most rich are corrupt. By most I mean 95+%. I will grant you the other 5% may be good although I have never met nor seen one.

  • Rex

    “…should the Federal Reserve really be celebrating their accomplishments at a time when the U.S. economy is literally falling to pieces?”

    You answered this question yourself later in the article when you said, “The truth is that the Federal Reserve was created to enslave the United States government in an endlessly expanding spiral of debt from which it would never be able to escape.” So, of course they should be celebrating. They are on the verge of their one-world-government dream coming to fruition.

  • zack

    I highly recommend that people read The Creature from Jekyll Island. It’s a bit hyperbolic, but I think it’s the most thorough expose on the history of bailouts and financial system corruption in the United States. You’ll realize that the financial crisis of 2008 was just another predictable round of the wealthy looting the public.

    Our company Path to Asia http://www.pathtoasia.com/jobs/ helps Americans move to Asia for jobs and prosperity. Visit our site for details.

  • Theo

    Wrong, Jenn. John F. Kennedy was not killed by the bankers.

  • http://www.hedgethebets.com/ Philip M.

    George Soros spoke about the Fed, US monetary policy and about the deflationary perils of austerity.

    George Soros gave this speech at Columbia University on October 5. 2010 warning about the deflationary perils of austerity and speculating about what governments should be doing instead.

    http://www.hedgethebets.com/latest/2010/10/george-soros-at-columbia-university-deflationary-perils-of-austerity/#more-94

    See if you can tell where the markets are headed (and buckle up for safety!)

  • Erwin Alber

    The reunion would be a good opportunity to
    1.
    arrest these banksters and to put them behind bars for the rest of their lives and

    2.
    to abolish the “Federal” Reserve and to get the government to issue its own money instead of the debt-incurring fake money obtained from the “Federal” Reserve Bank.

  • http://endtheecb.ning.com Jack

    We should take to the street: END THE INTEREST!

    Instead of this naieve ¨end the fed¨ stuff for which one thing is for sure that ending the fed will absolutely solve nothing as long as we allow interest on OUR medium of exchange.

    What are we going to shout in a few years time when the fed is gone??…….End Goldman Sachs!?

    the stupidity of these people is tremendous

  • http://endtheecb.ning.com Jack

    http://endtheecb.ning.com/forum/topics/kennedys-executive-order-11110

    Kennedy issued his US Notes for much the same reason. On June 4, 1963, Kennedy signed Executive Order 11110, which authorized the US Treasury to issue a new form of silver certificate.

    Kennedy issued $4,292,893,825 of cash money; free of debt and free of interest. It was a sufficient amount to allow the nation to operate without the private Federal Reserve. Just 5 months later, JFK was shot by the “crazed lone nut” Lee Harvey Oswald. Almost immediately after Kennedy’s death, the US Notes were pulled out of circulation and destroyed except for samples in the hands of collectors.

    A telling clue lies in the fact that the Warren Commission, now widely understood to have been a cover-up, counted among its seven members John J. Mc Cloy, who had served as head of the World Bank and President of Chase Manhattan Bank. A rather odd resume for a man charged with investigating a murder, in hindsight!

    Subsequent examination has shown that Kennedy’s Executive Order 11110 was never rescinded. That would have taken an act of Congress, and in the atmosphere of near deification of JFK following his death, that would have brought more public attention to what Kennedy had wanted to do. So, the E.O. still stands.

    I have written this commentary for two purposes. First, to remind President Obama that he already has all the authority he needs to order the US Treasury to start issuing currency. He just needs to pick up the phone or stroll through that tunnel and tell them to carry out Kennedy’s EO 11110. Obama has that authority. He does not need Congress or anyone else’s permission.

    My second purpose is to send a message to the Federal Reserve. and that message is that if Obama does start issuing currency INTEREST FREE in accordance with the Constitution and Kennedy’s EO 11110, and anything happens to him (or for that matter to Mike Montagne, (mathematically perfected economy), the owners of the Federal Reserve will be our first and most likely suspects.

  • Earl Garretson

    Abolishing the Reserve sounds great BUT what would be the repercussions? If it’s done overnight by Executive Order then what does that do to all banks? And each persons “money” in them? Could business continue to operate? If not then you have massive (as in everyone) unemployment. Even if it’s phased out over 5-10 years there will be tremendous problems. But if 10 years from now we have no Reserve and we have Federal Government issued “money”. What will back it? Our good faith in the Government? How much faith will you have if the same players put together the new order?
    Also, can we Americans live without credit-cards,mortgages, auto loans,etc.etc.? Our addiction to “the good life”(how many of you are enjoying the “American Dream” when you’re so enslaved to debt?) via easy credit is a BIG part of how we arrived at this mess.
    It appears to me that we’re going down no matter what happens. THE BIG QUESTION IS, “What will rise out of the ashes?”

    • Jacko

      If the Federal Reserve were done away with, and the Treasury took over the Fed’s duties, repayment of Treasury debt would be done as it is today but without the horrendous mounting of interest due on the debt…

  • Erwin Alber

    Earl, there is nothing backing it now! The money the so-called “Federal” Reserve lends the US government and Americans then pay interest on is nothing but a fiction – nothing more than a computer entry – and the resulting trillion dollar debt (not sure how much it is now) is also nothing but a fiction.

    I remember Bo Gritz suggesting congress issue a single trillion dollar coin to pay back the Fed banksters in order to settle the debt. :-)

  • Erwin Alber

    Interesting comment Jack! I have no doubt that what you say is correct in theory, but feel that unlike JFK, who exercised his power (to his detriment), Obama is nothing but a puppet of the psychopaths in charge, and therefore evil by extension. Evil he may be, but stupid he’s not. I remember seeing a satirical YouTube video where the incoming president is given an audiovisual presentation of the JFK murder by the Feds. Obama knows which way the wind is blowing and knows better than to side-step the agenda he’s been told to follow.

    Also, even if he were to revive Order 11110 and was killed, nobody would be able to do a thing about it, just as nobody has been able to hold any of these people accountable for the the crimes against the American people such as the criminal operation of the Federal Reserve Bank, the JFK murder, 9 11, the illegal wars against Iraq and Afghanistan and the bank bailouts. In other words, history has shown that they can do anything they want – and get away with it as well.

  • Grekko

    Big Party! Mathematical experiment. I’m the Fed, I print up $10. You (the economy) borrow that $10 at 5% interest to buy a house. Over a thirty year morgage, you have to pay back about $26 total. Where does the extra $16 come from if the economy only had $10? See the ponzi scheme here? The Fed has to print up more and more money as each year goes by. This is inflation. This is currency devaluation, this is insane!

  • Pat Carmack

    The Federal Reserve is simply a monopoly, or more properly a cartel of banks, which drafted the Fed Law of 1913 in secret at Jekyll Island in order to hide the scheme from the public. The law delegated the power to create all but 10% of the US money to their private banks. When they create that money out of nothing, the law allows them to lend it out at interest. In other words it is the goose that laid the golden egg. The result has been the rapid concentration of wealth in fewer and fewer hands – that of the major banks – and the gradual impoverishment of all other economic sectors.

    For many years the banks have used the huge profits they derive from the scheme to buy and control mass media (beginning in the 1920’s) and politicians. They effectively control the ability of politicians to get media coverage and donations, and invariably control the banking committees of both houses, and approve the Presidential candidates in like manner. So the “government by Goldman Sachs” is perfectly accurate and explains why huge banks get bailed out and smaller banks and all other businesses do not.

    It is a corrupted, dishonest, system that works to the harm of the national economy and has profoundly distorted the free markets in the US, which is why they are not working.

    The only solution is to repeal the Fed Act. The only politician who advocates that seriously is Rep. Ron Paul (and now his son, Sen. Rand Paul). The rest are corrupted by the media control and PAC money control of the major banks.

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