Wednesday, November 25, 2009

The Creature from Jekyll Island by G. Edward Griffin

With today's economic turmoil and near collapse of the banking system you have to ask yourself a) Why does the government continue to bailout the banks and their high risk schemes and b) how is it that a bank or investment firms can receive a bailout and less than a year later give out $20 billion in bonuses? After reading "The Creature from Jekyll Island - A Second Look at the Federal Reserve" by G. Edward Griffin, I can easily see why. This book is probably as lengthy and informative as a college textbook, but not as boring. It reads like an adventure through history and uncovers little known scandals that have occurred in the U.S. and the world during man's pursuit or gluttony for money and power.

This book gives a thorough explanation of the history of banking and finance, it give clear definitions and examples the terms of fractional-reserve banking, fiat money, inflation, assets, liabilities, etc. After understanding this, G. Edward Griffin follows the trail that led to the establishment of the Federal Reserve. He doesn't stop there. G. Edward Griffin clearly explains the thought behind the Federal Reserve and how it steals from the pockets of honest American workers and feeds the big banking industry...the same industry who pulled the right strings to put the Federal Reserve in place.

This book explains how putting the monetary policy in just a few hands caused the boom-bust cycles, wars, depressions, etc. It explains how big banks can easily survive and profit from the loss of others and will continue to do so. It explains how the U.S. is being destroyed by the hidden tax of inflation.

I warn you that this book will make you angry. You will never trust a banker or a politician again.

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