The Federal Reserve Conspiracy

The Federal Reserve Conspiracy. I typed a transcript for you below.

Book TV at FreedomFest in Las Vegas July 11-14, 2012 said: In your book Creature from Jekyll Island what is the Federal Reserve and what is your answer.

G. Edward Griffin replied: Well, what it is it's a cartel. It's not a government agency. It has the appearance of it being a government agency and they went to great lengths to give it that facade. It does have the power of government because congress voted to give the power of enforcement to it. But in its essence underneath it's a cartel. It's nothing different than a banana cartel or an oil cartel or sugar cartel. It happens to be a banking cartel. They got together, they drew up the rules and regulations for their own industry to self regulate their own industry is what cartels do and then they send it to congress and they took of the label at the top that said banking cartel. They erased that and said Federal Reserve Act. Congress passed it into law and that's why we think it's a government agency. Is because if you don't obey the rules they set down for their own industry you go to prison and so it looks like a government agency.

Book TV at FreedomFest: What should be done in your view with the Fed?

G. Edward Griffin replied: The Fed needs to be abolished. There's no other way around it. You cannot take the power to create money out of nothing and give it to men and expect that power not to corrupt those men. I don't care whether they're bankers or politicians. You give that power to anybody eventually they will be corrupted by it. It's not politically possible now because the average person doesn't understand it.