Learn About the Creature

I’ve never written book reviews on this blog in the past, but I think I’ll start. One of my summer projects was to read “The Creature From Jekyll Island” by G. Edward Griffin. This is Mr. Griffin’s well researched history of the Federal Reserve. Read a 600 page book about banking? No need to worry. Mr. Griffin writes in such a way as to keep your interest in the history and personal stories involved in the creation of this monster and the read never becomes tiresome or dry, as many books on banking do.

Many folks, looking to understand the state’s tyranny and how to resist, will think there are better topics to spend time learning about than central banking. However, as Mr. Griffin explains, it is the Federal Reserve System which is at the root of all problems created by state intervention in the lives of free individuals:

“The chain of events begins with fiat money created by a central bank, which leads to government debt, which causes inflation, which destroys the economy, which impoverishes the people, which provides an excuse for increasing government power, which is an on-going process culmination in totalitarianism.”

The state increases in power by taking its subject’s wealth. However, it can only get away with so much taxation of its subjects before they revolt. Therefore, a central bank, and the monetary mechanizations it provides, is created to allow the state to create as much money as it needs. This is the only way the massive welfare/warfare state can support itself.

Mr. Griffin provides a detailed explanation of the Mandrake Mechanism- the process by which the Fed converts debt into money. The end product of the Mechanism “is an artificial expansion of the money supply, which is the root cause of the hidden tax called inflation.”

The author list seven reasons to abolish the Federal Reserve System:

1) It is incapable of accomplishing its state objectives.
2) It is a cartel operation against the public interest.
3) It is the supreme instrument of usury.
4) It generates our most unfair tax.
5) It encourages war.
6) It destabilizes the economy.
7) It is an instrument of totalitarianism.

This book gives an accurate assertion why all these reasons are true and then some. Understand the root cause of the state’s threat to your liberty. Read this book.