A very interesting audio tour of the history of the Federal Reserve - and a scathing indictment of our banking system and who really profits. Where does money come from? Where does it go? Who makes it? The money magician's secrets are unveiled. Here is a close look at their mirrors and smoke machines, the pulleys, cogs, and wheels that create the grand illusion called money. A boring subject? Just wait. You'll be hooked in five minutes. It sounds like a detective story, which it really is, but it's all true. Based on Mr. Griffin's book "The Creature from Jekyll Island - A Second Look at the Federal Reserve", this address will shatter your old ideas about money and change the way you view the world.
What is even more fascinating is that this is from a 1998 lecture, yet very much portends today’s economic problems - and how the Federal Reserve members are profiting by creating ‘chaos’ and using something called the ‘Mandrake Mechanism’ to purchase smaller banks – with our money. Part of the Feds charter is to prevent large-scale economic conditions/failures: think Long-Term Capital Management (LTCM), which was a precursor to today’s economic ‘crisis’ and the first application of the ‘too big to fail’ doctrine, Continental Can, AIG (which was involved in the bailout of LTCM, Lehman Bros., Bear Stearns (which refused to participate in the bailout of LTCM – and could be one reason they were allowed to fail as payback for not doing so), Continental Illinois Bank , et. al.
Around the 32 minute mark is a very prescient observation about booms and busts – and how the banks end up with hard assets after starting out with nothing – and producing nothing. And a scathing indictment about the failings of the Fed is around the 43 minute mark. Around the one hour mark is a very interesting take on the International Monetary Fund (IMF) and how, after the hundreds of billions of dollars "thrown" at many third world countries, the only certainty is that the politicians have gotten very wealthy and that very little positive change has occurred in those countries (statistically, third world countries have regressed the past few decades).