Do you know why – & how – the Federal Reserve came to be in existence?

imageIn November of 1910 Senator Nelson Aldrich – father – in – law of John D. Rockefeller Jr – convened a meeting between top executives of the Morgan Rockefeller interests at the hunting lodge of financier J.P. Morgan on Jekyll Island off the coast of Georgia. Here plans were laid to create a central bank for the United States. `Griffin noted “what emerged” from this meeting was a cartel agreement with five objectives: stop the growing competition from the nation`s banks; obtain a franchise to create money out of nothing for the purpose of lending; get control of the reserves of all banks so that the more reckless ones would not be exposed to currency drains and bank runs; and convince congress that the purpose was to protect the public”` (Marrs 1997: 576). Note any interesting symbolism, btw?


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