The Fed -- Jekyll Island Monster
by Stephen Neitzke, Sat Jul 08, 2006 at 05:30:56 AM EDT
© by Stephen Neitzke, 2006In November 1910, seven wealthy men left the Northeastern US on trains to do some duckhunting on an island off Brunswick, Georgia. They carried all their duckhunting gear in plain sight, so that any snooping reporter could see that they were going duckhunting. And reporters really snooped in those days. The Reform Era muckrakers were still at their 1890s-1912 peak, producing exposés that still startled everybody.On arrival, the duckhunters moved into a posh resort owned by JP Morgan -- on Jekyll Island.In later years, at least one of the men admitted that he had never shot a duck, and never intended to. Another of the men later punned that the duckhunting was "a blind".
The seven wealthy men were surrogates of national government and powerful financiers. The financiers were seemingly competitors, subordinate to and regulated by the government. However the surrogates were not at Jekyll Island to sharpen their apparent relationships. They were there to agree on unconstitutional collusions between private corporations and government, which would restrict their lesser competitors and allow them to create debt-based money secured by nothing but thin air, from which they and their cronies could get rich by endless multiplication of debt-created money in the financial treason called "fractional reserve banking". They were there to bring the deceits, corruptions, frauds, and murderous machinations of centuries-old European central banking to the US. They were there to keep the rabble down and to keep the right people up. They were -- Nelson W. Aldrich (Republican whip in the Senate and father-in-law to John D. Rockefeller, Jr.) -- A. Piat Andrew (Asst Secretary of the Treasury) -- Henry P. Davison, Sr. (partner in JP Morgan Company) -- Charles D. Norton (President, 1st National Bank of New York) -- Benjamin Strong (head of JP Morgan's Bankers Trust, later chairman of the Federal Reserve) -- Frank A. Vanderlip (President, National City Bank of New York, representing William Rockefeller) -- Paul M. Warburg (partner in Kuhn, Loeb& Company, representing the Rothschilds and Warburgs in Europe). US national circumstances were such that the class-race elite -- the superrich -- desperately needed new and extraordinary mechanisms to keep the rabble down and to give the elites increased control. Citizens of nine states had already rammed direct democracy's I&R (initiative and referendum petition process citizen lawmaking) into their state constitutions -- Arkansas, Colorado, Maine, Missouri, Montana, Oklahoma, Oregon, South Dakota, and Utah. Citizens in many other states were heavily organized and threatening to institute their own citizen lawmaking. Class-race elite desperation is probably an understatement.Across the country, elites were being threatened and driven off decades-old corruptions that held vast profits and power for them. The losses of those profit-power corruptions made the wider elites community more than a little crazy. In the I&R states, November 1910, elites had already resorted to the wholesale illegality of overturning the people's rights as given in constitutional law with inferior and unconstitutional statutes.I&R "administrative law", passed by state legislatures for the regulation of I&R citizen petitions -- proposed law -- had been filled with "separation of powers" constitutional violations, as well as "binding judicial review of proposed law" constitutional violations. Executive branch officials were instructed by statute to arbitrarily delay, alter, and/or reject constitutionally defined, citizen-proposed law. Judges were instructed to arbitrarily delay, alter, and/or reject citizen-proposed law with binding court rulings. No constitution in the country allows executive branch officials to interfere in proposed law. No constitution in the country allows judges to perform binding review on proposed law.Any of those violations against legislature-proposed law would find the violators impeached and removed before dinner. But doing those same constitutional violations against citizen-proposed law is just what's necessary to keep the rabble down. It's just what's necessary to gain the profits and power that is theirs alone.Those delays, alterations, and/or rejections could be applied to any citizen-proposed law. However, the predator politicians have been cunning enough to selectively apply them only to those citizen-proposed laws that are offensive to money-power. Anything else slides right through. This unconstitutional I&R gauntlet remains largely undiscovered these hundred years later. The natural law of elitists' profits and power had trumped the laws of nations for thousands of years. It would not any more be set aside by the direct democracy of American rabble than it had by English rabble gathering around the Magna Carta or Republican Roman rabble gathering around the citizen lawmaking of the Council of Plebs. The Jekyll Island Duck Hunting Society was amazingly successful, for all the wrong reasons, and at huge expense to ordinary Americans.The Jekyll Island Good Ol' Boys Club saw their labors writ in the stone of federal statute when a compliant and complicit Woodrow Wilson signed the Federal Reserve Act, 23 December 1913. Mental giant that Wilson was, we can hold him responsible for knowing that his signature was not creating law, but instead was creating an unconstitutional anti-law regime -- null and void from its first moment, enforced under color of law only in constantly repeating felony violations of a broad spectrum of valid federal statutes. Nearly a hundred years later, the felony violations stack beyond imagination, every second of every day.Here's what Wilson and the powerful predators of Congress got away with.
Constitution, Article 1, section 8 -- The Congress shall have power -- paragraph 5 -- To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures.
With the 1913 FRA, Congress and the President unconstitutionally delegated Congress' specifically assigned duty to coin debt-free money secured by its precious metals. They delegated that duty to a privately owned corporation whose expressed intent was to print debt-based, fiat money secured only by thin air, and whose many other expressed intents were the interests of private financial corporate ownership, not the interests of civil society or its Constitutional governance.There is nothing in the Constitution that allows the give-away or delegation of any expressed duty/power to any other branch or institution. The Federal Reserve act was unconstitutional, felonious, and treasonous from its first moment of existence -- and remains exactly that today.As with the unconstitutional statutes that overturn the constitutional rights of citizens in the I&R states, the Federal Reserve Act is a federal statute that overturns the constitutional rights of citizens at the national level. This hundred-year-old trick of the super-bigoted class-race elite, their corporate sleaze, and their predator politicians is purely unacceptable. In today's mega-corruption the old trick is a growing enterprise. The 2-party, 3-branch, Bush-Cheney Usurpation has made it a chief tenet of their political science. Between Jekyll Island and the weeks leading up to the Wilson signing, citizens in another eight states had forced I&R citizen lawmaking into their state constitutions -- Arizona, California, Idaho, Michigan, Nebraska, Nevada, Ohio, and Washington. It was not at all clear to the elites in 1913 that the interstate citizen action groups increasing direct democracy could be stopped. The class-race elite had become desperately crazy.We shouldn't wonder that Congess' majority of predator politicians went along with the rules-violating rush-through of the FRA's passage. The powerful predators of Congress knew what had to be done to keep the rabble down. And they were being leaned on by their most important clients -- the superrich. In our time, we need to look back across the history of US money and banking, and create hard-biting remedies to these financial problems that daily now threaten to destroy us as a nation.The Constitution's authors had many good reasons for granting expressed duty/powers to specific branches and institutions.Coining and regulating the value of money, assigned only to Congress, has a history with the Constitution's authors that is stunningly large and stunningly unambiguous. Their main man of money-first-people-last, Alexander Hamilton, remarked -- "To emit an unfunded paper as the sign of value ought not to continue as a formal part of the Constitution, nor ever hereafter to be employed; being, in its nature, repugnant with abuses and liable to be made the engine of imposition and fraud". Hamilton knew the Bank of England well. He knew that it had been the model for, and, often, the controller of, the other central banks of Europe. With a bad track record stretching back to 1694, he knew about its debt-based money created out of thin air. He knew about its "fractional reserve banking", which allowed it to create multiples of its thin-air, fiat money with every loan that it entered into its books -- straightforward usury in its most depraved and treasonous form. He knew about its monetary and political machinations in the creation of war, during which it funded both sides, maximizing its creation of debt. He knew that it worked only to benefit its private owners, never its civil society. And yet, that "unfunded paper", fiat money secured by nothing more than thin air, is exactly what the 1913 Federal Reserve was commissioned to do -- by the same Congress whose members vow to uphold the Constitution. You might send them a note, "asking them when they intend to start", quips G. Edward Griffin, author of the smooth-reading, history-intense book, The Creature from Jekyll Island: A Second Look at the Federal Reserve.The Creature from Jekyll Island, 2nd edition, June 2004, should be required reading for every American over the age of 15.In 1935, SCOTUS slapped down the Congressional give-away of its legislative authority in Schechter Poultry Corporation v. US (295 U.S. 495). After citing the basic tenets of the Constitution's Article 1, the court ruled, "The Congress is not permitted to abdicate or to transfer to others the essential legislative functions with which it is thus vested."Some were quick to apply that SCOTUS ruling to the Federal Reserve. There were howlings, political explosions, and much noisy gibberish -- and then every criminality of the Federal Reserve simply continued.Our $8.5 trillion national debt, a direct result of debt-based money creation, held by nations and foreign central banks who, history shows, will destroy our nation without a second thought when their profits picture is good enough, is just one measure of the Federal Reserve's success.The Federal Reserve's only concerns are the profits and power of its private owners. In a conflict between the interests of their private owners and the US citizenry, they have no concerns for the US citizenry. Disintegration of the US economy will be induced the day that it provides enough profit to the Euro-American central bank cabal.The FRA is the most financially and politically powerful of the corruption machines that rule the everyday lives of Americans. This is the overarching corruption machine that gives confidence and arrogance to the operators of all the other corruption machines. This is the one that makes every other corruption machine possible.The omnibus corruption engine would be gutted and near lifeless without the Federal Reserve's multi-faceted "central banking" scam. We desperately need to abolish the Federal Reserve system.We have many reasons for abolishing the Federal Reserve and for setting a heavily regulated, governmental central banking system in its place. A pro-people, pro-sustainability-economics central banking system that will issue debt-free money and do fully secured banking is the key to a species-mature governance.Perpetual indebtedness and perpetual war are two giant keys for civil society's control by the superrich. their corporate sleaze, and their predator politicians. Those two giant keys are just part of the anti-democracy, anti-people arsenal that is firmly held by the Federal Reserve and its inbred partner, the international central banking cabal.Until you understand the reasons for abolishing the Federal Reserve system, you are simply part of the problem.The seven reasons for abolishing the Fed, as given by Griffin in his book, The Creature from Jekyll Island, "sound absurd to the casual observer" when stated without their supporting facts and arguments. The purpose of his book, he says, is to show that all seven bare-bones statements "are all-too-easy to substantiate". Clearly, his book delivers the substantiation.Griffin's seven reasons for abolishing the Fed are --
(1) It is incapable of accomplishing its stated objectives.Those who are laboring to renovate the Democratic Party so that government can save us should make a note. It is very probable that the international banking cabal's many levers threatening the existence of our country is the cause of the Democratic Party's terminal waffle, flip-flop, and treasonous support of neocon treasons.Better ask yourselves whether those behaviors show any evidence that a newly strong Democratic Party -- still saddled with a majority of its old-school corruption machine operators -- could be brought to face down the central banking cabal's threats. Could they be brought to abolish the Fed, just when they've gained the power to obscenely excessive profits from the Fed's horrendous defrauding of the American people?
(2) It is a cartel operating against the public interest.
(3) It is the supreme instrument of usury [with its treason of "fractional reserve banking", endlessly multiplying the money supply, endlessly multiplying debt].
(4) It generates our most unfair tax [inflation due to constantly increasing money supply].
(5) It encourages war.
(6) It destabilizes the economy.
(7) It is an instrument of totalitarianism.
(1) G. Edward Griffin, The Creature from Jekyll Island: A Second Look at the Federal Reserve, 2nd Edition, American Media, Westlake Village, CA, June 2004.
(2) Stephen Lendman, "Dirty Secrets of the Temple", SteveLendmanBlog, 29 July 2006.
(3) Todd Altman, "Two Reforms That Will Solve Virtually All Our Economic Problems", Part 2, "The Money System", Progress.Org, date unknown, but recent.
(4) An ingenious computation of the current fractional reserve percentage -- one of the three powers held by the Fed, allowing it to conduct the nation's monetary policy. The other two are "open market operations" and "the discount rate". All three are equally dangerous to civil society, but the fractional reserve is the scariest. The Fed will not tell the public what the reserve percentage is. This computation is by Franklin Sanders, "How Big Is The Reserve?", Money Changer, date unkown, but recent.
(5) Stephen A. Zarlenga, The Lost Science of Money: The Mythology of Money -- The Story of Power. American Monetary Institute, Valatie, NY, 2002. Nature and history of debt-based money and why we need to institute a debt-free money system. Widely acclaimed by serious students of monetary economics.
(Cross-posted from DD Revival).
(Modified Sat 08 July 2006, approx 7:35am.)
central banking, Congress, debt-based money, debt-free money, Federal Reserve, fiat money, financiers, fractional reserve banking, inflation, Jekyll Island, money supply, The Fed, Woodrow Wilson