The FED came into existence in 1913, but in 1910 several well-connected financiers and politician types met on Jekyll Island, GA to hatch a plan for the United States’ 3d Central Bank. It was November 1910, the secret meeting took place at a coastal Georgia resort, co-owned by J.P. Morgan. The meeting’s attendees were Who’s Who of the banking world, John D. Rockefeller’s man in the senate, Nelson Aldrich and A. Piatt Andrew, Assistant Secretary of the Treasury to President Taft. It’s not really important to know the names of all who attended, but to know that in this group we find the essence of the FED: powerful bankers with powerful government officials working together to have the nation’s money system serve their interests. It’s been about the same ever since!!
“They worked in secrecy for a full week. The structure of the Federal Reserve was proposed at this meeting. . . It would be “decentralized” into twelve members banks, providing something of a cover for the cartel that was actually taking place.”
-End the Fed, by Ron Paul
So you see folks, this Federal Reserve was hatched in secrecy under the disguise of providing ”tranquility” in the United States’ money supply. They have done nothing but the opposite, causing an untold amount of misery and discourse in this country.
Ron Paul again from his book, End the Fed: “With a vote by Congress, the government would confer legal legitimacy on a cartel of the largest bankers and permit them to inflate the money supply at will, providing for themselves and the financial system liquidity in time of need, while insulating themselves against the consequences of bad loans and over-extension of credit”
The above just happened with the recent bank bail-outs. They can do just about anything they want knowing that Big Brother (our government/ taxpayers) will cover their asses when the markets hit the skids. They enrich themselves at our expense and they have been doing it ever since that meeting in Georgia in 1910. It’s time for a change!!!