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1-Page Summary of The Creature From Jekyll Island

It Came from Jekyll Island

In 1910, a group of six people who represented 25% of the world’s wealth met at Jekyll Island to discuss creating a central bank. The five goals they set for themselves were: stop new banks from threatening their business; obtain the right to create money out of nothing; get control over all banks’ reserves so that reckless ones wouldn’t be exposed and cause panic in other banks; convince Congress that this was done for public good; and have taxpayers pay any losses incurred by this bank.

Kill the Fed

The Federal Reserve System, created in 1913, is neither federal nor a reserve. It should be abolished because it isn’t even a bank. The following are reasons why:

  • “It is incapable of accomplishing its stated objectives” – The Federal Reserve, which was created to provide stability to the economy and act as a lender of last resort, has failed in that role because it’s actually supposed to be a monopoly on money.

  • “From the Penn Central Railroad collapse in 1970 to the banking and auto industries’ bailouts in 2008, taxpayers footed the bill for financial and corporate risk taking and blunders.”

  • The most important thing to remember is that all money is created out of thin air. Therefore, if you’re charged interest on a loan, it’s usury.

According to the author, fiat money is bad for several reasons. First of all, inflation hurts everyone in society, especially the poor and middle class. It discourages saving and makes it difficult for individuals on fixed incomes to maintain their standard of living. Inflation is caused by central banks such as the Federal Reserve System (Fed). The Fed controls currency that has no real backing or value behind it. This type of currency also encourages war because governments need funding to wage wars; therefore, they resort to printing more money whenever they want more funding for a particular cause or project. Fiat money can also destabilize economies since central banks like the Fed manipulate supply and demand with monetary policies such as expansion and contraction of currencies in circulation throughout an economy.

  • “The Fed is a totalitarian tool” – The Fed makes it possible for organizations like the IMF, World Bank and United Nations to exist. These entities are precursors of a one-world government. They support dictatorships and socialist states if the Fed did not issue fiat money.

Socialism’s Swath

The government is trying to take over the country and turn it into a socialist state. During the Great Depression, they created programs that would help people buy houses. At Bretton Woods Conference in 1944, communists tried to impose their will on everyone else by creating a world currency and central bank.

President John F. Kennedy, who was a major proponent of socialism, believed that the world’s wealth should be more evenly distributed among its people. The Council on Foreign Relations is a group that helps launch politicians into office and has members from all political parties. These include former President Dwight Eisenhower, Henry Kissinger and Zbigniew Brzezinski (both government officials), and David Rockefeller (a banker).

The Council on Foreign Relations advocates the convergence of monetary systems through international institutions such as the International Monetary Fund and World Bank, trade agreements like NAFTA (North American Free Trade Agreement) and China’s inclusion in global institutions. This was part of the Great Deception: Communist leaders ceded some freedoms to their people but maintained control behind-the-scenes while placating Western nations with investment capital.

The Creature From Jekyll Island Book Summary, by G. Edward Griffin