I am starting this post to compile some of the more interesting items from the book “The Creature from Jekyll Island” by G. Edward Griffin. This is a book I was told to check out by a friend. When I told my mother about what I was reading she surprisingly told me she had read it and…“It was one of the scariest books I have ever read…It made me question everything I knew.”
In short, it is a book about the Federal Reserve System.
I begin here having read 158 pages. I feel a need to put forth some info as I find it. Do with it what you will. Call me what you want. I am going to keep adding as I go…
[i][b]The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit…
The law of supply and demand is not to be conned. As the supply of money increases relative to the supply of tangible assets in the economy , prices must eventually rise. Thus the earnings save by the productive members of society lose value in terms of goods. When the economy’s books are finally balanced, one finds that this loss in value represents the goods purchased by the government for WELFARE or other purposes…
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal. As was done in the case of gold… The financial policy of the WELFARE state requires that there be no way for the owners of wealth to protect themselves…
This is the shabby secret of the WELFARE statists tirades against gold. Deficit spending is simply a scheme for the "hidden"confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of proerty rights. [/b][/i]
“Wars are seldom funded out of the existing treasury,nor are they even done so out of increased taxes. If government were to levy taxes on their citizens fully adequate to finance the conflict, the amount would be so great that even the most ardent supporters would lose enthusiasm. By artificially increasing the money supply, however, the real cost is hidden from view. It is still paid, of course, but through inflation, a process that few people understand”
I remember the book calling amtrak a “black hole for tax payer money since 1971” Evidently the Penn Railroad was deemed too big to fail, and the railroad nationalized. Check out amtrak’s wikipedia page, it’s a blueprint for the future of two american car companies.