How the Fed is Just a Facia for a Banking Cartel

ByShaun Snapp

Executive Summary

  • The Federal Reserve is a faux government entity that was set up by a cartel of banks to represent the interests of those banks.

Introduction

The Fed is presented falsely as a government entity, and as a central bank that looks out for the interests of the nation. This is also false, as the Fed, like the first and second banks of the United States, is owned and controlled by the largest US banks for the sole purpose of maximizing the interests and profits of those banks.

This is explained in the following quotation.

Most of Warburg’s (the initial designer of the Fed, Paul Warburg) writing and lecturing on this topic was eyewash for the public. To cover the fact that a central bank is merely a cartel which has been legalized, its proponents had to lay down a thick smoke screen of technical jargon focusing always on how it would supposedly benefit commerce, the public, and the nation; how it would lower interest rates, provide funding for needed industrial projects, and prevent panics in the economy. There was not the slightest glimmer that, underneath it all, was a master plan which was designed from top to bottom to serve private interests at the expense of the public. This was, nevertheless, the cold reality, and the more perceptive bankers were well aware of it. In an address before the American Bankers Association the following year, Aldrich laid it out for anyone who was really listening to the meaning of his words. He said: “The organization proposed is not a bank, but a cooperative union of all the banks of the country for definite purposes.”2 Precisely. A union of banks. Two years later, in a speech before that same group of bankers, A. Barton Hepburn of Chase National Bank was even more candid. He said: “The measure recognizes and adopts the principles of a central bank. Indeed, if it works out as the sponsors of the law hope, it will make all incorporated banks together joint owners. – The Creature from Jekyll Island

Source: Creature From Jekyll Island

https://www.scribd.com/doc/54912935/The-Creature-from-Jekyll-Island-G-Edward-Griffin

There is no way that these concentrated banking interests would design a central bank that functioned in the interests of the country or its citizens.