Friday, October 22, 2010

The Creature From Jekyll Island

By Fred L Smith
I'm reading a very interesting book called the "The Creature from Jekyll Island" subtitled "A second look at the Federal Reserve". About one hundred pages in the book is very easy to understand and interesting to read.

It begins with a brief overview of the events of an initial meeting at Jekyll Island by a group of men who represented at least one fourth of the world's wealth including the Morgan monopoly and the Rothschild family. According to the author, the goal of this meeting was to keep a monopoly over the world's wealth. This group had to convince the US congress that this new Federal bank would benefit the people of the US, which they did.

The book explains many things about the IMF, World Bank and international finance. Like I said, I've only read about 100 pages so far but the book is clearly attacking the Fed and many US financial policies as ploys to bring us further in to socialism and bigger government and more government control and it does a pretty convincing job. As you read it kind of opens your eyes just too how much government controls the economy and how connected people (the wealthy) end up being those who benefit the most.

This is the main issue of Kiyosaki's latest book, 'Conspiracy of the Rich' (He timed quite well the release of this book.), about how ultimately the rich control the economy and wealth of the world. It doesn't take a genius to see that both these authors are at least partially correct. The executives of same large banks and financial institutions that got even richer by playing the real estate markets in the boom should have been bankrupt and out of work. But what happened instead, the government bailed them out through the Fed-taxpayer money and the hidden tax of inflation. Basically they said, you can mess around as much as you like, drive the economy into shambles and not suffer for it. Here take some hand outs to keep your company running.

They claim it is necessary to keep these large banks running to save the little guy from losing their job and financial hardship but what really happens? The little guy gets the short end of the stick just the same as he pays in taxes to bailout the rich bankers and his savings lose value through inflation. People blame capitalism for the financial mess but it if capitalism were allowed to work and do its job it would clean up the mess on its own. The big companies would go bankrupt as they should and would be replaced by new more efficient companies with better practices. The market would dictate, not the government.


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