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Well, you asked the question in your book, The Creature from Jekyll Island, what is the Federal Reserve, and what is your answer?

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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.

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It does have the power of government, because Congress voted to give the power of enforcement to it, but in its essence, underneath it, it's a cartel.

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It's nothing different than a banana cartel, or an oil cartel, or a sugar cartel. It happens to be a banking cartel.

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They got together, they drew up the rules and regulations for their own industry, to self-regulate their own industry is what cartels do,

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and then they sent it to Congress, and they took off the label at the top that said banking cartel, and they erased that, and they said Federal Reserve Act.

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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 that they set down for their own industry, you go to prison.

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And so it looks like a government agency, but basically the answer to your question is, it's a banking cartel.

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So now we have to abide by it, because it's law, and if we don't, we go to prison, which is why people think it's a government agency,

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because only government can put you in prison, right?

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Well, no, not right. Not if you're very wealthy and very clever, you can buy governments.

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So now we get back to the answer to your question, what is it?

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Today, it controls the money system. It controls who gets money, what the interest rates are.

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All the important elements of commerce are controlled by this private group in the name of the government,

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and it's become so powerful over the years that the role has completely reversed.

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It was created by the government.

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It was, in other words, a contract issued by the federal government, just like the states issue contracts or legalize corporations and so forth at the state level.

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This is like a national corporation that was created by the national government,

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and so the government created it, but now over the years, the role of master and servant has been reversed,

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and now we come to the amazing and horrible conclusion that the government doesn't control the banks.

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The banks control the government.

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So now we answer the question, what do we have here that it shouldn't be, and that is it.

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It is our master, and most people don't know it.

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So in your view, the bill, the Federal Reserve, from the beginning was a ploy?

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Oh, absolutely it was a ploy.

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It was a brilliant piece of strategy.

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These people were not stupid.

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They're great psychopoliticians.

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They're great strategists.

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And in fact, while the bill was being debated in Congress, some of these people went before the public.

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They gave speeches knowing it would be reported in the press, and they were interviewed by journalists,

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and they said, oh, this bill that they had written on the side, nobody knew it,

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but they said, oh, this bill is not going to be good for business.

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It's bad for America.

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And they actually did that ploy.

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And knowing full well that the average guy would read that in the newspaper and say,

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hmm, these big bankers don't like the bill.

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Must be pretty good, you know.

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These fellows were brilliant, and that's how they sold it.

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So what happened there is that they knew that there was going to be some kind of a move to control banking.

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They knew that Congress was going to pass some kind of a law to regulate banking.

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And so instead of being stupid about it and just sitting back and saying, oh, I hope they don't do too bad,

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they decided to take the lead.

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They said, we'll write the bill.

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We'll make sure that it's to our liking.

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And so that's what it's all about.

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They went to Jekyll Island where nobody knew they were going,

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where they had a meeting that was in a great deal of secrecy.

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They denied that they went for many years thereafter, you know.

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But they actually drafted the Federal Reserve Act on Jekyll Island in 1910,

51
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and then the next three years it took that much time to promote it and get it through Congress.

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The Federal Reserve Act wasn't drafted in Congress.

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It was drafted on a private island off the coast of Georgia in 1910.

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Here is the island, Jekyll Island.

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And it was drafted under great secrecy.

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Jekyll Island was the retreat for billionaires like William Rockefeller and J.P. Morgan.

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And in 1910, Senator Nelson Aldrich, the Republican whip in the Senate

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and the chair of the National Monetary Commission,

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sent his private railroad car to the New Jersey railroad station

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where he and five other men were instructed to come one at a time

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and everybody pretend they just didn't know each other.

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Aldrich, who is the guy, remember, he wrote the original bill?

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He was a business associate of J.P. Morgan.

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Oh, and the father-in-law to John D. Rockefeller, Jr.

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So there's no special interest happening there.

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There was also Abram Piat Andrew, Assistant Secretary of the Treasury,

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and Frank Vanderlip, representing William Rockefeller,

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Henry Davidson and Benjamin Strong with J.P. Morgan,

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and Paul Warburg.

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He is a partner, he was a partner, at Kuhn, Loeb & Company.

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He was representing the Rothschild banking family.

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Oh, he's going to talk about the Rothschilds now.

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He actually is an interesting character.

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If you ever saw Little Orphan Annie, Daddy Warbucks was named after Warburg.

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These are the men that represented one-fourth of the entire wealth of the world.

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You think we've got a problem with wealth now?

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Those guys, one-quarter of all of the money in the world.

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The Morgans, the Rockefellers, the Warburgs, Rothschilds, all in one room.

79
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Yeah, but when do they start sacrificing chickens?

80
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Well, it doesn't happen.

81
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That I'll tell you.

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These guys were all competitors.

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According to G. Edward Griffin, who we'll talk to in a minute,

84
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they all had come together to form a banking cartel

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so they didn't have to compete against each other.

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He says it was like an oil cartel or a sugar cartel,

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but this cartel actually went into partnership with the government.

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I mean, how great is that, huh?

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It's kind of like the drug cartels in Mexico.

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Wait, I didn't say that out loud, did I?

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So for more than a week, these men sat around there.

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And they sat around this big table and they hammered out all the details

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of what became the Federal Reserve System with five objectives.

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How many of these do you agree with?

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One, to stop the growing competition from the nation's newer banks.

96
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That doesn't sound good.

97
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Two, to obtain a franchise to create money out of nothing for the purpose of lending.

98
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That really doesn't sound good either.

99
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Three, to get control of the reserves of all of the banks

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so the reckless ones wouldn't be exposed to currency drains or bank runs.

101
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Oh, that's the charity part.

102
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Golly gee, beef, thank you so much.

103
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Then, to shift the losses from the bank owners to the taxpayers.

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It just gets better and better for you and me.

105
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No, again, the answer is no.

106
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And then finally, to convince Congress that the purpose was to protect the public.

107
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Well, they started the Federal Reserve with no money, just a checkbook.

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The government could go to the Fed and obtain instant money without having to consult the taxpayer.

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What a country!

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Money created out of nothing and then given to the government.

111
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It's loaned by the banks to you and me, and then we pay interest on it, and it goes to them.

112
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Interest on nothing.

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Again, the Fed is nothing more than a cartel like OPEC, except it's a money cartel.

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And this cartel brought the federal government into a partnership where you and I have to answer to it.

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And it's only to enforce the rules of the cartel, you know, to bring those into agreement with the federal laws to protect you.

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It operates under the protection of the federal government, and the government has virtually given a monopoly to create the nation's money supply.

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There are no elected officials.

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There are virtually no accountability to anyone.

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The president doesn't get to say, I'm going to name Glenn Beck as the head of the Fed, which, oh, please.

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Sarah, when you're in, I'm available.

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Oh, did I say that one out loud, too?

122
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You can't do that.

123
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The Fed gives the president a list to choose from.

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Really?

125
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Well, thank you, Chairman Mao.

126
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The Fed is privately owned.

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But by whom?

128
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Good question.

129
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No one knows.

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We can't open their books, and we don't know who owns them.

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Really?

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Now, here's an interesting spin from the Federal Reserve Board website.

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Although they're set up like private corporations and member banks hold their stock,

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the Federal Reserve banks owe their existence to an act of Congress and have a mandate to serve the public.

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Therefore, they're not really private companies, but rather owned by the citizens of the United States.

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Founded by David Rockefeller, the Trilateral Commission has been an arm of the globalist deep state since 1973.

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Last week at their annual meeting, a speaker who cannot be identified according to commission rules said that we are now in a period of structural inflation that will last for decades.

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They said that the free market is over and industry now sets policy.

139
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And they said that this year, 2023, is year one of this new global order.

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Days later, the Federal Reserve Bank announces a July launch for their new FedNow service, which was first announced in October of 2021.

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The too-big-to-fail banks and all the large processors are already on board, and so is the U.S. Treasury.

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The first week of April, the Federal Reserve begins the FedNow pilot program for early adopters to become certified participants to help the Fed confirm readiness for their July launch.

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FedNow is an instant payment processing system that seeks to be the base of all digital transactions.

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acting as an umbrella company to manage all financial payments.

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This has been shown to be the gateway to a central bank digital currency, CBDC.

146
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FedNow is much like the Reserve Bank of India's instant payment system, the Unified Payments Interface, or UPI.

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UPI has had huge success in converting rural communities into a complete cashless society.

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According to the International Monetary Fund, UPI democratized the payment system and paved the way for central bank digital currencies.

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Central bank instant payment processing is also how the Central Bank of Nigeria introduced its CBDC, Inaira, which has been, so far, violently rejected.

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Reporting for InfoWars, this is Greg Reese.

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Thanks for listening.

152
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Thank you.

153
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Thank you.

154
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PleaseYN.

155
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Thank you.

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We'll see you next time.

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Bye-bye.

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Thanks.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.

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Bye-bye.