On his Fox News show, Glenn Beck presented Griffin as an authority on the history of the Federal Reserve System. It is an instrument of totalitarianism”– The Fed makes possible global organizations such as the International Monetary Fund (IMF), the World Bank and the United Nations, all precursors of a one-world government. Law 2: “To enjoy economic prosperity and political tranquility, monetary powers of politicians must be limited to maintaining the integrity of measures of precious metals.

The Knights of the Golden Circle, a clandestine group connected to the Confederate secret service, commissioned one of its members, John Wilkes Booth, to assassinate President Abraham Lincoln.However, the book offers a unique perspective that is often absent from mainstream discussions of economics and finance. The fatal flaw in Griffin’s analysis and breathless fear-mongering is, as is the case with so many prevalent conspiracy theories, that it takes a grain of truth and turns it into a salt mine of utterly laughable bullshit.

The US Constitution forbids states from issuing paper currency but gives the federal government the right to “coin money” or to assign it a value based on an extrinsic commodity such as gold or silver.Answering these questions is the first stop on our journey, but it’s actually not at the beginning of the story—it’s in the middle. g. monetizing the debt, th Thus, American merchants had to finance imports and exports through financial houses in Europe, principally London. The 5th Edition includes a no-holds barred analysis of bank bailouts that are shown to be nothing less than legalized plunder of the people.

The panic galvanized the US Congress, particularly Republican senator Nelson Aldrich, the chair of the Senate Finance Committee. Law 3: “A nation that resorts to fiat currency dooms itself to economic hardship and political disunity.The book makes an interesting point that if money is created only by lending it out for interest, there never will be enough money in circulation to pay the principal+interest off, but then the book seems to deny that conclusion by nebulously saying that the interest can be paid off with the value of labor. P. Morgan; and the visitors – a senator, the assistant secretary of the US Treasury and four bankers – represented 25% of the world’s wealth at that time. These include former President Dwight Eisenhower, Henry Kissinger and Zbigniew Brzezinski (both government officials), and David Rockefeller (a banker). This has disproportionate impacts on those who own the least tangible assets, and distorts the field of economic play. In 1914, Edwin Seligman, a prominent professor at Columbia University, wrote that “in its fundamental features the Federal Reserve Act is the work of Mr.