In 1910, six men came together on Jekyll Island, off the coast of Georgia. They took a train ride, in total secrecy. No one could know who they were, where they were meeting or why and they could not acknowledge that they knew one another.
These were the wealthiest men in American and in fact, were part of corporations that owned a quarter of the entire world’s wealth. Three of the corporations or individuals they represented still mean MONEY to almost everyone, even today: Rockefeller, Rothschild and Morgan.
These men were not altruistically spirited. And they were competitors in the business world. They included Benjamin Strong (J.P. Morgan’s Banker’s Trust Company), Senator Nelson Aldrich (father-in-law of John D. Rockefeller), Frank Vanderlip (VP of Rockefeller’s National City Bank of NY, the largest bank in America), Charles Norton (President of Morgan’s First National Bank of NY, the second largest bank), Henry Davison, (Sr. partner of J.P.Morgan Company) and Paul Warburg (representing the Rothschilds.) Abraham Andrew (Secretary of the Treasury) was the 7th man whose job it was to make sure the government’s interests were represented, such as they were.
These men came together for a week and created the Federal Reserve.
Being far from stupid men, they knew that the only way that Congress would pass their Federal Reserve Act was to make it at least partially centralized: they knew that Congress would not pass a bill that was wholly banker run and they acknowledged that in time, changes could be made to the bill making it less under the thumb of Congress and more secretively run: all in good time and all in incremental steps. (Sound anything like what the socialists are now planning for our health care?)
They went out and “hired” third party economists and academicians to promote their bill and convince the American people that they knew what they were doing by taking over everyone’s money. Rockefeller, for instance, “donated” $50 million dollars to the University of Chicago where an economist and professor named J. Laurence Laughlin’s job was to go out and speak as a “neutral” authority on how good this idea was going to be to the American people and their Congressmen and Senators. This cartel of bankers called these so-called “neutral authorities” the National Citizen’s League for the Promotion of a Sound Banking System.
But the banker’s cartel had one big hurdle to overcome: the election of a president.
President Taft – a republican – was running for re-election and he was opposed to this whole Federal Reserve idea. He was also likely to win a second term. The bankers wanted Woodrow Wilson. During the panic of 1907 Wilson said “this trouble could be averted if we appointed a committee of six or seven public-spirited men like J.P.Morgan to handle the affairs of the country.”
Uh huh. Bankers handling the affairs of the country and unelected bankers, at that. Ha! what a joke.
It soon became clear to the banker’s cartel that Wilson couldn’t beat Taft. Enter former president Theodore Roosevelt and his 3rd party – the Bull Moose party.
It was an Independent party.
Thanks to Roosevelt, the bankers had found a way to divide the republican party and get their man Wilson in the White House. In fact, Morgan’s allies donated heavily to Roosevelt’s campaign. Roosevelt’s run had divided the republicans and as a result, Wilson won but with only 45% of the vote.
Had this been a two-man race, Wilson would have lost and the Federal Reserve likely would never have come into being.
In less than a year in office, Wilson signed the Federal Reserve Act into law. And the rest is… more history.