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Saturday, June 10th

Show Highlights:

  • G. Edward Griffin, author of The Creature From Jekyll Island, shares his in depth research and analysis concerning the Federal Reserve System and the forces behind its inception.
  • Kal Gronvall, precious metals expert, offers a novel perspective on gold and silver investing - concentrating on protecting wealth from the coming dollar deluge.
  • The Goldseek Wizards, Gary Kaltbaum, Bob Chapman and Jack Chan examine all of the major markets including precious metals. The Wizards use proprietary technical analysis as well as fundamental tools to help listeners to correctly gauge the current market environment.
  • NEXT WEEK: Richard Daughty, The Mogambo, Returns.

G. Edward Griffin is a writer and documentary film producer with many successful titles to his credit. Listed in Who’s Who in America, he is well known because of his talent for researching difficult topics and presenting them in clear terms that all can understand. He has dealt with such diverse subjects as archaeology and ancient Earth history, the Federal Reserve System and international banking, terrorism, internal subversion, the history of taxation, U.S. foreign policy, the science and politics of cancer therapy, the Supreme Court, and the United Nations. His better-known works include The Creature from Jekyll Island, World without Cancer, The Discovery of Noah’s Ark, Moles in High Places, The Open Gates of Troy, No Place to Hide, The Capitalist Conspiracy, More Deadly than War, The Grand Design, The Great Prison Break, and The Fearful Master.


Mr. Griffin is a graduate of the University of Michigan where he majored in speech and communications. In preparation for writing his book on the Federal Reserve System, he enrolled in the College for Financial Planning located in Denver, Colorado. His goal was not to become a professional financial planner but to better understand the real world of investments and money markets. He obtained his CFP designation (Certified Financial Planner) in 1989.


Mr. Griffin is a recipient of the coveted Telly Award for excellence in television production, a Contributing Editor of The New American magazine, the creator of the Reality Zone Audio Archives, and is President of American Media, a publishing and video production company in Southern California. He has served on the board of directors of The National Health Federation and The International Association of Cancer Victors and Friends and is Founder and President of The Cancer Cure Foundation. He is also the founder and president of Freedom Force International.

How It REALLY Happened

The Creature from Jekyll Island
by G. Edward Griffin

Excerpts from Chapter One specifically addressing
the creation of the Federal Reserve System.


The secret meeting on Jekyll Island in Georgia at which the Federal Reserve was conceived; the birth of a banking cartel to protect its members from competition; the strategy of how to convince Congress and the public that this cartel was an agency of the United States government.--...were seven men who represented an estimated one-forth of the total wealth of the entire world.

1. Nelson W. Aldrich, Republican "whip" in the Senate, Chairman of the National Monetary Commission, business associate of J.P. Morgan, father-in-law to John D. Rockefeller, Jr.;

2. Abraham Piatt Andrew, Assistant Secretary of the United States Treasury;

3. Frank A. Vanderlip, president of the National City Bank of New York, the most powerful of the banks at that time,representing William Rockefeller and the international investment banking house of Kuhn, Loeb & Company;

4. Henry P. Davison, senior partner of the J.P Morgan Company;

5. Charles D. Norton, president of J.P. Morgan's First National Bank ofNew York;

6. Benjamin Strong, head of J.P. Morgan's Bankers Trust Company;and

7. Paul M. Warburg, a partner in Kuhn, Loeb & Company, a representative of the Rothschild banking dynasty in England and France, and brother to Max Warburg who was head of the Warburg banking consortium in Germany and the Netherlands.

In 1913, the same year that the Federal Reserve Act was passed into law, a subcommittee of the House Committee on Currency and Banking, under the chairmanship of Arsene Pujo of Louisiana, completed its investigation into the concentration of financial power in the United States. Pujo was considered to be a spokesman for the oil interests, part of the very group under investigation, and did everything possible to sabotage the hearings. In spite of his efforts, however, the final report of the committee at large was devastating. It stated:

Your committee is satisfied from the proofs submitted, even in the absence of data from the banks, that there is an established and well defined identity and community of interest between a few leaders of finance...which has resulted in great and rapidly growing concentration of the control of money and credit in the hands of these few men...

When we consider, also, in this connection that into these reservoirs of money and credit there flow a large part of the reserves of the banks of the country, that they are also the agents and correspondents of the out-of-town banks in the loaning of their surplus funds in the only public money market of the country, and that a small group of men and their partners and associates have now further strengthened their hold upon the resources of these institutions by acquiring large stock holdings therein, by representation on their boards and through valuable patronage, we begin to realize something of the extent to which this practical and effective domination and control over our greatest financial, railroad and industrial corporations has developed, largely within the past five years, and that it is fraught with peril to the welfare of the country.

The purpose of this meeting on Jekyll Island was...to come to an agreement on the structure and operation of a banking cartel. The goal of the cartel, as is true with all of them, was to maximize profits by minimizing competition between members, to make it difficult for new competitors to enter the field, and to utilize the police power of government to enforce the cartel agreement.

In more specific terms, the purpose and, indeed, the actual outcome of this meeting was to create the blueprint for the Federal Reserve System.--

The first leak regarding this meeting found its way into print in 1916. It appeared in Leslie's Weekly and was written by a young financial reporter by the name of B.C. Forbes, who later founded Forbes Magazine. The article was primarily in praise of Paul Warburg, and it is likely that Warburg let the story out during conversations with the writer. At any rate, the opening paragraph contained a dramatic but highly accurate summary of both the nature and purpose of the meeting:

Picture a party of the nation's greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily hieing hundreds of miles South, embarking on a mysterious launch, sneaking on to an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance.

I am not romancing. I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written.--

In 1930, Paul Warburg wrote a massive book - 1750 pages in all - entitled "The Federal Reserve System, Its Origin and Growth". In this tome, he described the meeting and its purpose but did not mention either its location or the names of those who attended. But he did say: "The results of the conference were entirely confidential. Even the fact there had been a meeting was not permitted to become public." Then in a footnote he added: "Though eighteen years have since gone by, I do not feel free to give a description of this most interesting conference concerning which Senator Aldrich pledged all participants to secrecy."--

In the February 9, 1935, issue of the Saturday Evening Post, an article appeared written by Frank Vanderlip. In it he said: "Despite my views about the value to society of greater publicity for the affairs of corporations, there was an occasion, near the close of 1910, when I was as secretive - indeed, as furtive - as any conspirator....I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System....We were told to leave our last names behind us. We were told, further, that we should avoid dining together on the night of our departure. We were instructed to come one at a time and as unobtrusively as possible to the railroad terminal on the New Jersy littoral of the Hudson, where Senator Aldrich's private car would be in readiness, attached to the rear end of a train for the South....

Once aboard the private car we began to observe the taboo that had been fixed on last names. We addressed one another as "Ben," "Paul," "Nelson," "Abe" - it is Abraham Piatt Andrew. Davison and I adopted even deeper disguises, abandoning our first names. On the theory that we were always right, he became Wilbur and I became Orville, after those two aviation pioneers, the Wright brothers....The servants and train crew may have known the identities of one or two of us, but they did not know all, and it was the names of all printed together that would have made our mysterious journey significant in Washington, in Wall Street, even in London. Discovery, we knew, simply must not happen, or else all our time and effort would be wasted.

If it were to be exposed publicly that our particular group had got together and written a banking bill, that bill would have no chance whatever of passage by Congress.--

As with all cartels, it had to be created by legislation and sustained by the power of goverment under the deception of protecting the consumer.--

As John Kenneth Galbraith explained it:

"It was his [Aldrich's] thought to outflank the opposition by having not one central bank but many. And the word bank would itself be avoided."--Galbraith says "...Warburg has, with some justice, been called the father of the system."

Professor Edwin Seligman, a member of the international banking family of J. & W. Seligman, and head of the Department of Economics at Columbia University, writes that "...in its fundamental features, the Federal Reserve Act is the work of Mr. Warburg more than any other man in the country."--

Another brother, Max Warburg, was the financial adviser of the Kaiser and became Director of the Reichsbank in Germany. This was, of course, a central bank, and it was one of the cartel models used in the construction of the Federal Reserve System. The Reichsbank, incidentally, a few years later would create the massive hyperinflation that occured in Germany, wiping out the middle class and the entire German economy as well.--

...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 all works out as the sponsers of the law hope, it will make all incorporated banks together joint owners of a central dominating power." And that is about as good a definition of a cartel as one is likely to find.--

...it is incapable of achieving its stated objectives.--

...why is the System incapable of achieving its stated objectives?

The painful answer is: those were never its true objectives.--

Anthony Sutton, former Research Fellow at the Hoover Institution for War, Revolution and Peace, and also Professor of Economics at California State University, Los Angeles, provides a somewhat deeper analysis. He writes:

"Warburg's revolutionary plan to get American Society to go to work for Wall Street was astonishingly simple. Even today,...academic theoreticians cover their blackboards with meaningless equations, and the general public struggles in bewildered confusion with inflation and the coming credit collapse, while the quite simple explanation of the problem goes undiscussed and almost entirely uncomprehended. The Federal Reserve System is a legal private monopoly of the money supply operated for the benefit of the few under the guise of protecting and promoting the public interest.--"

The real significance of the journey to Jekyll Island and the creature that was hatched there was inadvertantly summarized by the words of Paul Warburg's admiring biographer, Harold Kellock:

"Paul M. Warburg is probably the mildest-mannered man that ever personally conducted a revolution. It was a bloodless revolution: he did not attempt to rouse the populace to arms. He stepped forth armed simply with an idea. And he conquered. That's the amazing thing. A shy, sensitive man, he imposed his idea on a nation of a hundred million people.--"

Click here to read Chapter 10, THE MANDRAKE MECHANISM

The Creature from Jekyll Island: A Lecture on the Federal Reserve
"G. Edward Griffin exposes the most blatant scam of all history. It’s all here: the cause of wars, boom-bust cycles, inflation, depression, prosperity. It's just exactly what every American needs to know about the power of the central bank."
The Creature From Jekyll Island

 

Kal Gronvall

About me; and the scams in the coin industry

By trade I am a high school and college English teacher, having taught a total of 11 years. After finishing my Master's degree in 1993 I tried to get back into teaching, but there was such an excess of teachers I couldn't find a job. So, in the fall of 1997 I took a job with the largest gold coin company in the country located in Minneapolis. I worked for that company until just after 2000 turned over. Then I left that company to work for another gold coin company in Burnsville, Minnesota. While working for these two coin companies for a total of six years I got a pretty good handle on the gold coin business, and to my shock, I witnessed some of the lowest, most despicable acts I had ever seen in my life, as other gold brokers around me would lie to customers, misrepresent coins and make false claims about them, promise people impossible monetary gains if they bought certain coins, and the management went right along with it.

I decided to go on the radio and expose these scams in the coin industry I ended up on national radio talk shows doing just that. The biggest problem with the gold coin industry is the fact that it is unregulated. It is basically “buyer beware.” Whatever they can get away with they get away with. In late 1998, a talk show host asked me why I was speaking out against the coins that all the other companies were recommending. I simply told him that these companies sell certain coins because they bring huge profits, not for the customer, but for the coin company. The talk show host told me that many people from the listening audience had asked if I had anything in writing about the scams in the coin industry. I told him that I didn't but that I could put some of these things in writing. I started with 11 pages, then it grew to 17, then to 21, then to 26. I will soon be updating my paper. After I update it I will publish it as a book. I am offering this paper free of charge to anyone who calls and requests it. Now, a little about the paper.

Following are the services I provide:

The only paper in the country exposing the scams in the coin industry


Financial consulting at no charge or obligation


An honest evaluation of your financial ability to purchase precious metals -
I do turn people away whom I feel don't have the financial means to buy gold and silver


Free information package upon request (37 page information package)


I encourage you to copy my material and distribute it


I present a common sense approach to owing gold and silver


I advocate for you to take physical possession of your gold and silver


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I don't have an 800 number, but just ask, and I will call you back when you call - I have unlimited minutes on my phone, so to call you back doesn't cost me more


A possibility that you could work for me if we are compatible


No high pressure sales tactics or fine print


I believe in education not intimidation - I used to be a teacher

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Archived Shows:

Richard Russell, Ron Brown & Trading Wizards - June 03, 2006

Jason Hommel, Gary Stroik, Bob Chapman, Gary Kaltbaum & Jack Chan - May 27, 2006

Tom Udall, Gary Stroik, Bob Chapman, Gary Kaltbaum & Jack Chan - May 20, 2006

Bill Murphy & Michael Covel - May 13, 2006

Jim Sinclair - May 06, 2006

Richard Daughty, The Mogambo Guru - April 28, 2006

Catherine Austin Fitts - April 22, 2006

Mark Leibovit - April 15, 2006

Addison Wiggin - April 8, 2006

Dr. Ron Paul - April 1, 2006

Bob Chapman - March 25, 2006

Dr. Marc Faber - March 18, 2006

John Rubion & David Coffin - March 11, 2006

Julian Phillips & Gary Kaltbaum - March 4, 2006

Steve Forbes & Dr. Van K. Tharp - February 25, 2006

Bob Chapman & Jack Chan - February 18, 2006

Jim Willie, Roland Watson & David Morgan - February 11, 2006

David Morgan

Jim Rogers

James Turk

Dr. Marc Faber

Bill Murphy

 

 

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