"The Creature from Jekyll Island: Uncovering the Dark Secrets of the Federal Reserve"-A Review

 

I remember a few posts back talking a little about the book The Creature from Jekyll island and suggesting to read it or listen to the audiobook. Today I want to give a bit more insight by providing a short book review and the lessons I learned from reading it.

"The Creature from Jekyll Island" by G. Edward Griffin is a fascinating and eye-opening book that explores the history and implications of the creation of the Federal Reserve, the central banking system of the United States.

Griffin takes the reader on a journey through the secret meeting that took place on Jekyll Island in 1910, where a small group of powerful bankers and financiers conspired to create a central bank that would be controlled by them and their wealthy associates. He explains how this group of men, led by the influential banker J.P. Morgan, were able to manipulate the political system to achieve their goal, despite widespread opposition from the American public.

Griffin also explores the many ways in which the Federal Reserve has shaped the course of American history, from its role in financing wars to its impact on the economy and the lives of everyday citizens. He argues that the Federal Reserve has become a powerful and unaccountable institution that serves the interests of a wealthy elite at the expense of the rest of society.

One of the strengths of "The Creature from Jekyll Island" is Griffin's ability to explain complex economic concepts in a clear and accessible way. He makes a compelling case for the dangers of centralized banking and the need for greater transparency and accountability in the financial system.

                 What I Learned from The Book

The Creature from Jekyll Island made me release a few things. The first was that 2008 was not the first bank crash. Bank crashes have been happening for years all throughout the world due to overprinting money within the economy.I also learned that it is painfully clear that the world governments do not know how to manage money. Money is over printed for things the governments want to accomplish pushing more economic pressure on businesses and the people. When this happens  taxes go up and businesses raise prices to keep their bottom line to shareholders.

Now prices of things like gas,food, and housing will cost more. Now some of you may be thinking yes this is true but the company I work for gives me a raise every year. It is true that your company gives a raise every year however does it truly alleviate inflation? I did a little research and found out as of 2021 the average raise increase in the United States was 2.9% while the consumer price index showed an increase of 6.9% that we the people were paying for goods and services. Now I know some of you hear this and think this sounds like it is the businesses fault for raising prices and the truth is that is incorrect.

I would like to provide a different perspective of looking at this. When taxes go up a business pays more fees to import and ship goods.Also a business still has to pay shareholders, building rent fees, light bill, gas, water trash literally all the things we have to pay for as a homeowner. Now add to the mix having employees you have to pay wages to that increase every year, paying into a 401k for those employees and paying for health care plans for all employees.

Looking at all of these other costs let's be honest here if you were a business you are telling me you would not raise prices for customers when taxes increase? I also learned why the government working unchecked is a big problem for all of us. Think of it from this perspective if you are consistently underperforming if you get fired or will not receive an annual raise.Our government can make mistakes with the economy and still keep their jobs.

Have any of you seen how many small businesses had to close during covid due to the decision by our government to shut everything down? Our government did nothing to protect the smaller businesses which created a huge hit to our economy that we are still currently suffering from. Our government felt none of this pain that we the people felt however and how do I know this you ask? I know this because the only way that governments make money is by raising and taking taxes from us the people. Now I will not go too in debt about that today but I do have a plan to talk about it more in my book review of "How Taxes Work in America"

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