[quote=Allan from Fallbrook]Investor: I have read the book. I’ve also read enough history, especially related to the various bank panics and runs, to realize that your rambling screed is fairly divorced from both reality and fact.
Do a little research on the Fed, with a concentration on Carter Glass and Nelson Aldrich. Read up on the Panic of 1907, and the desire to avoid similar panics through the institution of a central bank, similar to those being used by the British, French and Germans prior to WWI.
And for the record, there were central banks in the US prior to the Fed. See First Bank of the United States (ca. 1791) and Second Bank of the United States (ca. 1816). I’d also recommend doing a little bit more research into Jefferson and Jackson and their feelings on central banks before turning this into some sort of sinister cabal.
As the more serious posters on this board are fond of pointing out: BRING FACTS. Not some breathless tirade utterly devoid of them.[/quote]
Senatror aldrich was JD rockefellor’s father in law and was sent to europe because of the panic of 1907 to find a way to minimise financial crises. He came back, met is secret at jekyll island and formed the federal reserve on the bank of england, a privatly owned company, that has managed englands money since the 1690’s. The publically states purpose of the fed is as you state but the auther of the creature book makes it VERY CLEAR that this was not the true pupose. How can you read the creature book and not understand the authors main theories spelled out consistantly for 800 pages? Andrew jackson made the elimination of the fed one of his main platforms for his second election. Jefferson worked very hard to kill the re-signing of the central bank due to expire in 1810/1811. The author of the creature book makes this very plain. how is it that you do not seem to understand even the simplest of ideas from the book?
