Wednesday, May 04, 2005

The Jekyll Island Secret

How many of us really know what the Federal Reserve System is? The story isn't told on the Federal Reserve website, in fact they'd prefer not to discuss it. There is a truth-in-advertising problem with the name. It isn't part of the federal government as many mistakenly believe, there are no reserves being held by the organization, and Federal Reserve Banks are not banks at all. It is a privately held corporation founded by a group of powerful men from great financial institutions at the private resort of J.P. Morgan on Jekyll Island off the coast of Georgia.

It is a prime example of how laws are passed in our country today, because their goals would never meet the approval of voters, or Congress, they had to promise their proposal would address the prevailing concerns. All the while, the real goal was quite the opposite. The real goals were to stop the growing competition from the nation's newer banks; adopt a system to create money from nothing (fiat currency); control all the reserves of all banks; get the taxpayer to pick up the bill for any losses; and convince Congress it's purpose was to protect the public. The goals that are given to the public are not it's true goals, and the Federal Reserve has failed miserably at them. The real goals were accomplished, and the effort has been an astounding success.

The result of their plan created at Jekyll Island resulted in the Federal Reserve Act of 1913 which created a public/private partnership in a central bank, passed on the presumption that it would stabilize the economy. Instead it has created an inflation monster that will eventually overtake us. Failure is inevitable. In the meantime those who run the system obtain the ultimate power over the country. This is detailed in a book titled "The Creature from Jekyll Island." The author suggests a solution, but the only real solution is to learn how to be a good steward and keep your faith in the Lord steadfast. 1 John 2:17

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