Griffin on the FED
G. Edward Griffin wrote the best popular introduction to the Federal Reserve System in 1998: The Creature From Jekyll Island. It has gone through 38 printings.
He gave an interview to Casey Research a few weeks ago. Casey Research has printed a transcript. Here are highlights.
I think that Einstein’s E=mc2 was the epicenter of all his theories. I think in our case the epicenter was the realization that the Federal Reserve system is a cartel, and not an agency of the federal government. That single fact alone is, when you think about it, so shocking to most people – or it should be, because we have been raised to think that it’s the government, that they’re looking after us. To think that it’s no different than an oil cartel or a banana cartel – it simply happens to be a banking cartel and that we have given them the monopoly to create the money of the United States, and that they can create it out of nothing and charge interest on nothing – all these pieces start falling into place. People realize that this is not in the best interest of the American people, was never designed to be from the get-go, and it has been a means of legalized plunder of the American people. That all stems from the realization that the Federal Reserve is a cartel and not a government agency. . . .People realize that they are being had; they’ve been fooled and deceived over and over and over again. But unfortunately, some of them – particularly in the Occupy movement – don’t have the big picture yet. They resent the fact that there are some very wealthy people in the banking industry and the politicians who are living high, while the average guy on the street is not living well at all. And so they get out there and say, “This is capitalism; we must bring down capitalism.” They don’t realize that what they’re looking at is the difference between the haves and the have-nots, that’s not capitalism at all. They don’t understand the fact that this is favoritism, this is socialism that we already have. They’re advocating more government control as though somehow our elected representatives are all saints. If we just had politicians running everything, everything would be fine, they think. They have a lot to learn yet. They keep calling for more of the same bad medicine that has brought us to this point. . . .
We’re back to the realization that the Fed is a cartel; but it’s more than a cartel. It’s a cartel in partnership with the federal government. We really have kind of a duopoly here. The bankers and the politicians have formed this partnership that works very well for both of them.
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Published on September 18, 2012. The original is here.