The Creature From Jekyll Island

315 Pages·2012·15.66 MB·English

ABOUT THE COVER

he use of the Great Seal of the United
Status is not without significance. At first we
sonteanplited having an artist change the
tagle into 2 vulture, That, we thought,
would atract attention and zl make 2
Statement. Upon reflection, however, we
rilizeé thal the wulie is eeelly harmless. It
muy be ugly, but it is « scavenger, not &
keller. The ezyle, on the other hand, is &
presiater. It isa regal creature to behold, but
it ie deadly to. its prey. Frsthermose, as
pertrayod on the dollar, itis protected by the
shield of the United States government even,
though it is independent of st. Finally, it
hold within its grasp the choice herween,
[peace or war. The parallels were too great ta
Ignore. We decided to keep the exgle

G. Edward Griffin is 9 woniter and
documensary lim produc with many
successful titles to his exeit, Lista in W's
bu ir Amerion, be is well known because of
his talent for reseanching dificult topics ane
presenting them in clear terms that all can

‘(Continued on insicle af back cover)
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HOW TO READ
THIS BOOK

‘Thick bowls can be intimidating. We tend to put
ff reading tem until we have a sultsely large
Block of Ame —which is to say, often they are
never tea. That s the cease a proview has been
_plsced al Ui beginning acd « suanaey atthe ud
fof ced chapter. All uf have together can bu reid
aabout one hour. AWhoegh they will nat conta
details nar documentation, they will cover the
jor points ard il provide ar. overview of the
comeplete story, The best way to reat this beak,
therefore, is to begins with the previuws af each
section, followed Fy the chapter previews are!
ormnavles. Fven if the reader ig not in a hurry,
this is a an excellent approach. A look at the
snap bufore the jourcey mks it wise to grapple
with a topie such ax Hs which spss 0 rnuch,
history,
THE CREATURE
FROM
JEKYLL ISLAND

A Second Look at the
Federal Reserve

Third edition

by G. Edward Griffin

American Media
ilies io she next gerenation especially ony own lied
Janes, Dasie, Ralph, and Keallevn,
(May thie effone help no Build f Uren htt sve

Seventh pr utng: May 18
Sindh privting: September IW?
Tilth prinking: August 156
Foucth printing: deplore 195
TER: printings April 1995
Second printing: Never 1996
Tus printing: July 1994

hint edition: May WR
Second eivon: September 1995
Fisted: July 1982

© Copyright 1988, 1095 and IAby C. Lewacd Girifia

Published by American Media
TO, Sone fos
‘Westlake Vilage, California {135664

Libeary of Conyrest Catalog Coed Number: 8871615
ER C1 2996-21-2

Mamufocturad in ihe United States
‘

TABLE OF CONTENTS.

Teefaee. i
Acknoveledigments iv
Introduction ¥

1. WHAT CREATURE IS THiS?
What is the Federal Keserve System? The answer may

surprise you It is not federal andl there are ro reserves,
Furthermore, the Federal Reserve Hanks ate net even banks, The
key to this viele is to be Found, nol at the beginning ofthe story,
Dut in the middle. Since this is nol a textbook, we are nel
confined to 4 chronological structure, The subject matter is not a
cprriculom te be mastered but @ myslery ta be saved, So let us
start where the action is,

1. the Joumey ta Jel Island

2. Tae Nae of the Gane Is Bailout

5. Protectors of the Public

4 Home sweet Loan

5. Nearer tothe Meant Desire...

6 Building the New Worle Order

Ll. A CRASH COURSE ON MONEY.

‘The vight chapters contained in this and the following:
section deal with mnaterial that is osgmoized by lopie, not
chronology. Several of Uhem will jump aheae of events that aze
not covered until latet. Futhermare, the scape is such that the
rearer may wonder what, if any, Is the connection with the
Tederal Reserve System Mlease be patient, Tae importance vil
eventusly become clear. Tt ig the author's intent no caver
concepts and principles before looking at events. Without this
backyround, the history of the Feceval Reserve is boring, With t,
Ihe story emerges av ar. exciting drama which profourelly affects
our lives today. So let us hegin this adventure with a few
discoveries about the nakare of money ise

183

7. The Barbaric Metal 135
8 Fouls Gold... : 155
9. The Serret Science : wi
10. The Mandrake Mechanisen 185
M11, THE NEW ALCHEMY. 25

“The ancient alchemists cought in vais te convert lead inte
geld, Modern alcheraist uve siccended in Pat quest. ‘Ihe lead
bullets of war have yielUed an endless source of gold for those
rmagiciarss who contro] the Munaicake Mechanisin. The staeling,
ect emerges that, withact the ability ta create fiat money, mast
modem fears simply would nok have oceustesd. As long, 45 the
Mechanism is allowed to function, fulure ars ure inevitable
this is the story of how that came 16 pass.

1. The Rothschild Formula 27
A2 Sink thw Lusitarial oc... : 23%
28. Manquerade in Moscow Deis na Be
11. The Best Finemy Money Can Buy 285

IV. A TALE OF THREE BANKS. . aur

Tt has been stil that these who are igmorent of Fistory are
Gocmied lo repeat ils mistakes, Itmay come wt a sveptise fo hear,
nat the Tederal Kecerve System ig America’s fourtn central
bank, net its fast. Weave been thro all his belore and, each,
time, the regult has been Hh same. Interested in what happened?
Ther. let's set [ae coordinates of our Hime machine to the colony
ol Massuchuselts and the year 1690. To activate, tern te chapter
Fifteen.

TS. he Lost {2eesune Map oe escecs cserseseavse eH
16, Lae Creattire Comes to Atsesica 5
17. Den of Vipers ah
1B. Toaves and Pishes, anu Civil War 361
19. Greenbacles and Other Crimes <p sve cans SPF

V. THE HARVEST 485

Monetary ancl politcal stientinte continue ly expound Ube
theoredical merits of the Pedezal Reserve Systema. W hax become a
mcdemn act of faifh that cconom’e life simply could not go en
without i But the tlaw fir tinory is past, The Creature moved
into its fival Ian in 1913 and hs snovled all theushed about te
landscape ever sites, If we wish to kiow if 1 5 a ctrutiue of
service br a beast of prey, we merely have ho look at what it has
done. And, after the ret of al those years, sve can be sure thet
whar it has done, i will eonliawe to deo, Ge, to tse the Bikical
axiom, a tree shall be knows by the hit if bears, Tet us now
camming the harvest,

2fl The London Cimnectiom aie
21. Cianpelitioa ASE. 31
22. The Creature Swallows Congress 451
23, The Creat [nck Limser --, 471

Vi {IME TRAVEL INTO THE FUTURE... 55

Tn fine previous section of this book, we have travelled
Gough Eme, We begen our journey by stepping into the past,
As we efiscronserl the centuries, we obsarvest wats, unachery,
profitecring, and political uereption. That hax brouggl us to Ue
present. Now we use prepared to ride our tare niackine into tae
future. It willbe a hair-raising trip, and rauch of what Ties ahead
vwill be unpleasant. but it has rot yet come to pass. fis merely
the projection of present forces, If we do not like what we see,
swe still have any opportunity te dunge these forces, Tae futuze
will be what we ehioone to muke It

2A, Doonsslay Mechanisms so SP
35. A Pessimistic Scerutio 597
26. A Reslistic Scenic 365
PHOTOGRAPHS
‘The seven mien whe wet in seeret af Jekyll Island %
The Fabian Society stained-lass window .... 06
First phota section... epee)
Period cartoons about the Rothschilds 0.2... ts scve 288
THems relating to the sinking of the Lasiticia, 0-0. 262
Secona phats section ‘598 404
APPENDIX
A. Structure andl Function uf the Federal Reserve... 590
B. Natural Laws of Human Behavior in Feonomics .-.- 592
CC. teMl Subteactive or Accummlative? Fog
BIBLIOGRAPHY . 296
ANOLX ap
PREFACE

Toes the world really need ancther book om Ue Kederal
Reserve System?

T have struggled with that question for several years. My
own library is multe testimany to the [act that there has been no
shortage of writers willing to set off into the dark forest to do
Ueallls with the evil dmgon. But, forthe: most part, their hooks
have been ignored by the mainstream, and he gist storier
remains undannted in his lair. There seemed tohe litle reason to.
think that could succeed where sa many others have failed

Yet, the idea was haunting. There was no doubt in my raind
lust the Federal Reserve is one of the mast dangerous creatures
ever to stalk qur land. Fusthermate, as my probing brought me
inte contact with more and more hard data, Feame to realla: that
sas investigating ane of the greatest “ssho-dunits” oF history.
And, to make matters worse, | discaveved who did it.

Someane has te yet this story though te thee public, Te
problem, however, is that the publiedowat't want (ofc it. Aflor
all this is bud news, and ise certainly get enough of that uk itn

Another obstarle to communication is Prat this tale bruly is
incredible, which means rnbeticble, ‘The magnitude by which
reality deviates ftom the acuuples myth iv sn poat Bhat, for mst
people, it simply 3s beyeme credibility. Anyone carrying this
rmcshage ik immediately suspected of paranoia. Whe will listen
toa matlman?

nd, finely, there is the subject matter itself, It can become
pretty complex. Well, at least that's how it seem at frst.
‘Treatises om this topic ollen reid Uke curridelum textuooks for
banking and inact. It is emsy to become emstsured in a sticky
sect of terminology and abstractions. Only monetary profession
als are motivated to master the new language, and even they
bften find themselves in seviouss disagreement: Far example, in a
event letter circulated by a group of monetary experts Who, for
‘years, have conducted ah ongoing exchange of ideas regarding,
monetary reform, the editer said: “Tt i [rustating that we
cannot find more agreement amany ourselves on this vital issue.
‘We seein te diffir so much on definitions and on, really, ant

unbiasert, Rank, honest, correct understanding of just how our
current monerary systein does function.”

So why am Pow making my own uluange into the dragon’
teuth? Its because Thelieve there isa definite change in the wind
‘of public attitude. As the gathering cconontic storm drat
neater, more and more people will tune into the weather
report_—+ven if i bad news, Furthermore, the evidence of the
truth of this story is now so overpowering that [trust my readers
vill have no choice but to accept it, all questions vf szity axide.
If the village idiot says the bell hag fallen feom the steeple and.
comes dragging the bell hehind him, well,

Lastly. T have discovered that this subject is nol as compli=
cated as if First appeatod to be, and I am resolved to avoid the
pitfall of trodding the usual convoluted path. What follows,
Bhercfore, will he Fhe story of a erime, not a course on cristo
oy

Twas intended that this hook would be half its prevent sire
and be completed in shout one year. From the heginning,
however, it took on a life forue of its own and I bau but 2
servant to its will, It refused to stay within the confines
prescribed and, like the genie released from its hottle, grew 10
enormous sive. When the job was dane and it was possible to
lassen the entice menuscript, Twas surpaised to realize that fur
Looks had beon veritten instesd of ane,

First, there isa epash course a momey, the basics of hankings
and cucremy. Without that, it weuld be impossible ta under
Stand the fraud that new passes for acceptable practice within
the banking uystern

Scoondl, there is a book on hows the world’s central banks
the Fecleral Resurve being ane of themr—are catalysts for war
‘That is what puts real ire into the subject, bevause it shows that
we are dealing, not with mere oney, but with blood, human
faufering, ane Freedom itself

‘Thicd, there isa history of central banking in Ameviea. That
fg essential to a realization that the ennept behind the Federal
Reserve wax tried dove fina: kefore in America, We need to
know that and cspecially need to know shy Unise institutions
‘were evenlially junked.

Finally, there is am analyse of the Federal Reserve itself and
its dismal record since 1913, This ix probably the least important
pat of all, bur iis the reawm we are heve. It is the least
Important, not becmse the subject lacks significme:, but
Iecausi i has buen sortten before by writers far miore qualified
fad more aklled Uian | As mentioned proviowsly, however,
those volumes generally Taave remained unread except by
technical historians, and thr Creature lus continued to dine
‘upon its hapless victims,

‘There are vever discernible threads chit ace woven throug
oul the fabric of this ctudy. They represent the reasons for
abolition of the Tederal Reserve Sysler. When stated fu their
purest form, without einbellishment o¢ explanation, they sound
absuied to the cacual observer, IL is the puxpuse of this book,
however, to show that thee statements are allleo-easy 10
substantiate

The Federal Reserve System should he abolished for the
following, reasens:

4 Tis incapable of accomplishing itt stated objectives
(Chapter 1]
« le isa curtel operating against the public interest. (Chapter 3)
«eis the suprume instrument of usury. (Chapter 10.)
4 le generates our most uatalr Live. (Cupter 103
4 Teencouenges war (Chapler 14}
+ Tedestabilizes the economy. (Chapter 23,
# Tris an iustromert of totalitarianism. (Chapters § and 26)
This is a story about limitless money and hidden globat
power. The good nese js hal il is a fascinating ax any work of
Fiction could be, and this, V trust, will add ith pleasure and
‘excitement lo the learning process,
‘The batl news i that every detail of what follows is trae

G, Edward Griffin

ACKNOWLEDGMENTS

A.sediter wo steals the work of another is called a plagiarisl
(One sho takes from the werks of many is called a rescurchor, That
iga roundabout way ol saying Lam deeply indebted to the efforksoF
so many who have previously grappled this topic. I is impossible
to acknowlulge them exupt in footnote ane Libliography Without
the cumulative product of their clforts, it would have taken a
Iifctime to pull together the material you ate aout to read.

Tnvaxletinn to he Listoria face, however, Diere are smunerous
concepts which, tthe best of my now esige, ane not tobe fonand ie
pier Titerancey. Primary among these are the formulation at certain
Poatural laws” which, it sceued tome, were too important to leave
busied beneath the factual data. You will easily recopn'e these and
offer editorial expressions a: the singular produxt of my on
perceptions for which no «ne alse can be held responsible

Tevould Wier give special thanks to Myril Creer and Jim Toft
for huving lirstinviteel me to give a lerturcum this subject and, thus,
forcing me to delve into # at some depths and te Leth Joiner fer
encouraging me, after the epuch, lo “take it on the coud” This
Jnook ie the Crd cisult ofa seven year journey that began with thowe
fint steps. Wayne C Rickert deserves a special medal [or his
finarcial support to get the project slarted and foe hiv incredible
[patience while it crawl toward eampletn, Thamles ro Bill Jasper
for providing copies of numerous lartto-docate documents.
Uhanks, also, 20 Linda Perlstein ara Melinda Wiman for keaping
zy Inisiness enterprises Functiening during my prevecupalion with
his project. And a very punamal chanks te my wife, Patric, for
Putting np with my periods of Tong abserce syhite completing the
‘mannscripl, for meticulous prowtieading ard fora most perceptive
Aritique of ts development aking, the way

Tinatly, T soould Tike to acknowledge those readers of the first
three printings wh have acsisted in the retineanent of this work,
Feaiuse of their efferts moat of the inevitable errata have been
corrected Jor the secan dition. Even sty it would be foolhardy te
Think tbat there are ri more errens within Fhe followings puss. 1
have tied to be meticulous with ever the smallest deta, bul one
‘mnmo| harvest such a huge crop witht dropping it fow send
Therefore, corrections and suggtstions from new eadera are si
cerely invited. Ta my supreme cptimisy, | woul like to think Us
they willbe incorporates! intu future editions uf this beck,
INTRODUCTION

The following exchange yore published inthe iritish humor

magazine, Pach, on Apel 3, 19

Wig reprinied hese as an

Appropriate iilreluetion. and as a mental exsreise to limber the
mung for Hhe material eomtained i Hs Book,

Q. Wht ze Dake for?
A Tormake money.
Q.For the cuntoners?
A. Forthe bats,

O. Why clozan'l bank advertis-
uganehtion Us?

A Ieswould ext bein good taste.
Bat it is anenlianwed by implica
tion in references tn reserees of
5249.00N,1K or Thereabeuts,

Thatin the many that they have
made,

Q. Out uf the customen?
A Tsuppese nn,

2. They also mention Assets of
$8500,000,000 wr thereubeuts
ave they rnade that 190?

AL Not exactly. That is. the
money they se ho mnake sone,

see, And they keep i iat
safe someshen?

A. Nor at all. they lend. il to
custemers.

©. Then they haven't got?
ANo,

Q. Thin hoe iit Ansats?

A, They maintain that it would
bait dey pati hack.

@ But they must have some
sone ina safe somewhere?

A, Yes, tsvally SRMIOIIAI oF

thereabouts, This is called

Liabilities,

G. Butif they've port, hew ean

they beliable for?

A. Bocauce itinat tes,

(Gothen why do they have il?

A, Thaw been lent te thea by

Q. You mean customers lene!

banks money?

A. Ta effect. They put money
us their agents, 0 itis realy

Teal tothe Dans,

1. And what do he bunks clo

with ie

A. Lend itty other customers,

Q. Bot you stl that nuney they

lant to other people ws Ansets?

AYE

Q, Then Assets and Liskifities

‘must be thu sme thing?

A. Yow cabvtoualy say that

2. But you've jus sald i ELput

S100 into my account Hs bo

Tiable to have t pay it back, 50

ify Liabilities. But they go ane

lund tte somneoneeh, und es

Tiahle tr have te pay it back, 50

i's Assets. Its the game $100,

suave?

A.Yes. But

Q.Then iteancols cut tmeans,
doesn't il that Danks havelvt
really any tnoney al all?

A.Thusretically
Q. Never nine theoretically.
And it Duy havent any money,

here du they get Breit
Reserves. of $249,000.00 or
Breeabouts?

‘A. Ltold you. ‘Thal is the money
hey have marks

Q.How?

A. Well, when they levul your
$100 w someone Dey charge
Rim interest

Q- Hose rmuch?

A. depends on the Ban, Rut
Say five and a halt per cent.
This Heir profit

Q. Why isn't try profi? tat
AL Irs the theory of banking
practice that

Q. When L tend Orem my
sehy don’t I charge thea
A You de,

Q You con't say, Howe much?
A Tedepensts un the Bah Rate
Say holla per cen

ston
inter-

G-Crasping of me, rather?
A. But Brats only if you'te not
sping to draw the money out
Again

Q, Tir of course, Ven going 10
raw at out again. IFT hadn't
wanted 19 deaty it uit aguin T
could have buried itu he gure
den, couldn't 2

A. They wouldn't like you te
‘Graie out again

©. Why nl? 161 keep it there
ousay isa Liability. Would
Igy bbe glad 81 reduced their
Liabilities By removing

A. No. Bocuse if you semove it
‘hey cunt end it ev amyeme eee

9. Pur if wanted to remove it
they’ uve toet ne?

A. Certainly

Q. But suppose they've already
lenritto another evstoane:?

A hen Hey Tl let you lave
‘someone elee’s meiney

G. But suppose he wants his too
sand they've let aie have it?

A, You're being, purposely ob
tase.

QUihink Tu being acute, What
everyone wanted Beir money
atence?

A. I's the theory of banking
provtig Hat they never would.
9.80 shal banks hank on tenet
boaving to met sein exsmait-
neat?

A. Levouldn’t say that

Q Raturally. Welle if Mhone’s
othing cle yor fiat yout can
tell me?

A.Quite se, Now youean got
‘and open a baking accoual,
Q. Just one last question

ACF ame,

(Q.Woulde’t Ido better te geoff
and open up-a hank?
Section T

WHAT CREATURE
IS THIS?

What isthe Federal Reserve System? Ihe ansvver
may suprise yuu, It is not federal 2nd thare are
suo texcrven. Fasthermee, the Fudderal Reverve
aks arg not even hanks. Tac key be this riddles
twrhe four, not atthe beginning ofthe story, but
in the mikidle. Since Us is nota textbook, we are
not confined to a chonelopicel structure, The
subject anather ic usta currictum la be mastered!
uta mystory to be wolves. So let us stark where
the uctin