We the People, Consent of the Governed
November 20, 1910 Jekyll Island, Georgia six men have a secret meeting at the most inaccessible country club in America owned by J.P. Morgan. The reason for this ultra hush hush congregation of bankers, a U.S. Senator and the assistant U.S. Treasury Secretary was to draft the creation of the central banking system we know today. This meeting was to be kept from the eyes of the public, a meeting so confidential that only first names were used and all in attendance had to swear an oath of fidelity. A false duck hunting story was fabricated and each man arrived at the train terminal to board a private rail car. One by one U.S. Senator Nelson Aldrich, his private secretary Arthur Shelton, Assistant U.S. Treasury Secretary Piatt Andrew, Henry Davison, Frank Vanderlip and Paul Warburg showed up to craft the unconstitutional National Reserve Institution.
The reasoning for creating this central banking system was flawed from its inception. Several men believed that the U.S. was held back from economic growth and prosperity by not having an elastic currency that could expand and flow with the modern economy. At the time the dollars value was tied to the price of gold and the quantity of dollars available was dependent on federal government bonds. The money supply didn’t expand nor did it contract with seasonal changes such as harvest time or holiday shopping. Deflation was also considered a problem and banks couldn’t bank overseas. On average every fifteen years the economy would cause a panic and “runs” on the banks would occur, this often would deplete the banks of their money reserves and sometimes banks ran out!! We now face economic turmoil and change every 5-7 years!!
Our founding fathers rejected paper money and central banks. Last week I included several quotes from our founders that explicitly expressed their thoughts on paper money. “And I sincerely believe with you, that banking establishments are more dangerous than standing armies; and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.” Thomas Jefferson to John Taylor 1816. Our founding fathers knew that unlimited money was a challenge to our countries existence. With unlimited supply the government could fund never ending wars, become a welfare check to buy votes, create unconstitutional agencies that absolutely depended on federal funding, hold states hostage and all kinds of fraud. Look at today and all the government does on the backs of our future generations through borrowing.
Currently our federal government borrows roughly 200 Billion dollars a month to pay for our Bi-Partisan budget. Don’t forget neither party has been the fiscal party since Lincoln needed to fund a civil war!!! I can prove it, and possibly down the road might even touch on it for all you skeptics. Our government has done exactly what our founding fathers warned us about with their unlimited check book practices, all feasible because of the Federal Reserve and a bi-partisan effort to create this abomination. That’s right, it was a bipartisan accomplishment spear headed by a Republican U.S. Senator finished by the other head of Orthrus, the democrats.
I hope your eyes are opened; as we continue to critique the path our government has taken and connect the calamities to the violations of the Constitution. As we traverse the ingenuity of our founding fathers; keep your ears available to the insult of being wrong. Often, when our beliefs and ideals are challenged, we are trained to hold tighter and shut down opposition to our held half-truths. If we are ever to reclaim the liberty that once was, we must be able and willing to accept that our precious, never wrong; never lying government has educated us in a fashion to benefit solely them and those who pay to elect them. establishments are more dangerous than standing armies; and that the principle of spending money.