Creature From Jekyll Island by G. Edward полностью

Rhetoric about helping the poor notwithstanding, the true goal of the transfer of wealth disguised as loans is to get control over the leaders of the less developed countries. After these despots get used to the taste of such an unlimited supply of sweet cash, they will never be able to break the habit. They will be content—already are content—to become little gold-plated cogs in the giant machinery of world government. Ideology means nothing to them: capitalist, communist, socialist, fascist, what does it matter so long as the money keeps coming. The IMF/World Bank literally is buying these countries and using our money to do it.

The recent inclusion of Red China and the former Soviet bloc on the list of IMF/World Bank recipient countries signals the final phase of the game. Now that Latin America and Africa have been

"purchased" into the New World Order, this is the final frontier. In a relatively short time span, China, Russia, and the Eastern European countries have now become the biggest borrowers and/

already, they are in arrears on their payments. This is where the action will lie in the months ahead.

Section II

A CRASH COURSE

ON MONEY

The eight chapters contained in this and the

following section deal with material that is

organized by topic, not chronology. Several of

them will jump ahead of events that are not

covered until later. Furthermore, the scope is such

that the reader may wonder what, if any, is the

connection with the Federal Reserve System.

Please be patient. The importance will eventually

become clear. It is the author's intent to cover

concepts and principles before looking at events.

Without this background, the history of the

Federal Reserve is boring. With it, the story

emerges as an exciting drama which profoundly

affects our lives today. So let us begin this

adventure with a few discoveries about the

nature of money itself.

C h a p t e r Seven

THE BARBARIC METAL

The history and evolution of money; the emer-

gence of gold as the universal money supply; the

attempts by governments to cheat their subjects

by clipping or debasing gold coins; the reality that

any quantity of gold will suffice for a monetary

system and that "more money" does not requiremore gold.

There is a great mystique surrounding the nature of money. It is generally regarded as beyond the understanding of mere mortals.

Questions of the origin of money or the mechanism of its creation are seldom matters of public debate. We accept them as facts of life which are beyond our sphere of control. Thus, in a nation which is founded on the principle of government by the people, and which assumes a high level of understanding among the electorate, the people themselves have blocked out one of the most important factors affecting, not only their government, but their personal lives as well.

This attitude is not accidental, nor was it always so. There was a time in the fairly recent past when the humble voter—even without formal education—was well informed on money matters and

vitally concerned about their political implementation. In fact, as we shall see in a later chapter, major elections were won or lost depending on how candidates stood on the issue of a central bank.

It has been in the interest of the money mandarins, however, to convince the public that, now, these issues are too complicated for novices. Through the use of technical jargon and by hiding simple reality inside a maze of bewildering procedures, they have caused an understanding of the nature of money to fade from the public consciousness.

WHAT IS MONEY?

The first step in this maneuver was to scramble the definition of money itself. For example, the July 20, 1975 issue of the Nezv York 136

THE CREATURE FROM JEKYLL ISLAND

Times, in an article entitled "Money Supply: A Growing Muddle,"

begins with the question: "What is money nowadays?" The Wall Street Journal of August 29, 1975, comments: "The men and women involved in this arcane exercise [of watching the money supply]

aren't exactly sure what the money supply consists of." And, in its September 24, 1971 issue, the same paper said: "A pro-International Monetary Fund Seminar of eminent economists couldn't agree on what money is or how banks create it."

Even the government cannot define money. Some years ago, a Mr. A.F. Davis mailed a ten-dollar Federal Reserve Note to the Treasury Department. In his letter of transmittal, he called attention to the inscription on the bill which said that it was redeemable in