The Jekyll Island Conspiracy: How a Few Men Seized Control of the U.S. Economy
Hi Buddies! Hope the best life for you and to make it more interesting, here I am with another conspiracy that tells you about how the federal reserve was formed. Enjoy!
The Secret Meeting That Shaped the Federal Reserve
In November 1910, a group of six wealthy bankers and financiers met in secret on Jekyll Island, Georgia. They were there to discuss a plan for reforming the U.S. banking system.
The men were:
- Nelson Aldrich, a U.S. senator from Rhode Island
- A. Piatt Andrew, an assistant secretary of the treasury
- Henry Davison, a partner at J.P. Morgan & Co.
- Arthur Shelton, a lawyer (couldn’t find any image)
- Frank Vanderlip, the president of the National City Bank of New York
- Paul Warburg, a German-born banker
The men met in secret because they did not want the public to know about their plans. They feared that the public would oppose their plan, which would give a small group of bankers a great deal of power over the U.S. economy.
The plan that the men developed at Jekyll Island called for the creation of a central bank, which would be responsible for issuing currency and regulating the money supply. The central bank would be owned by private banks, but it would be overseen by the federal government.
The plan for the central bank was controversial from the start. Some people argued that it was undemocratic and that it would give too much power to a small group of bankers. Others argued that it was necessary to have a central bank in order to prevent financial crises.
The debate over the central bank continued for several years. In 1913, Congress passed the Federal Reserve Act, which created the Federal Reserve System. The Federal Reserve is now the central bank of the United States, and it has a major impact on the country's economy.
The meeting at Jekyll Island is often cited as an example of how a small group of powerful people can control the economy. The six men who met there were all members of the same social class and had similar economic interests. They were not elected officials, and they did not have to answer to the public for their actions.
The Federal Reserve has been criticized for its secrecy and lack of transparency. It has also been accused of being too close to Wall Street and of bailing out banks at the expense of taxpayers.
Whether or not you believe that the meeting at Jekyll Island was a "dark truth," it is clear that it had a major impact on the development of the Federal Reserve. The Federal Reserve is now a powerful institution that has a significant impact on the U.S. economy. It is important to be aware of the history of the Federal Reserve and to understand how it works.
