Preface
Does the world really need another book on the Federal Reserve System?
I have struggled with that question for several years. My own library is mute testimony to the fact that there has been no shortage of writers willing to set off into the dark forest to do battle with the evil dragon. But, for the most part, their books have been ignored by the mainstream, and the giant snorter remains undaunted in his lair. There seemed to be little reason to think that I could succeed where so many others have failed.
Yet, the idea was haunting. There was no doubt in my mind that the Federal Reserve is one of the most dangerous creatures ever to stalk our land. Furthermore, as my probing brought me into contact with more and more hard data, I came to realize that I was investigating one of the greatest who-dunits
of history. And, to make matters worse, I discovered who did it.
Someone has to get this story through to the public. The problem, however, is that the public doesn’t want to hear it. After all, this is bad news, and we certainly get enough of that as it is.
Another obstacle to communication is that this tale truly is incredible, which means unbelievable. The magnitude by which reality deviates from the accepted myth is so great that, for most people, it simply is beyond credibility. Anyone carrying this message is immediately suspected of paranoia. Who will listen to a madman?
And, finally, there is the subject matter itself. It can become pretty complex. Well, at least that’s how it seems at first. Treatises on this topic often read like curricullum textbooks for banking and finance. It is easy to become ensnared in a sticky web of terminology and abstractions. Only monetary professionals are motivated to master the new language, and even they often find themselves in serious disagreement. For example, in a recent letter circulated by a group of monetary experts who, for years, have conducted an ongoing exchange of ideas regarding monetary reform, the editor said: It is frustrating that we cannot find more agreement among ourselves on this vital issue. We seem to differ so much on definitions and on, really, an unbiased, frank, honest, correct understanding of just how our current monetary system does function.
So why am I now making my own charge into the dragon’s teeth? It’s because I believe there is a definite change in the wind of public attitude. As the gathering economic storm draws nearer, more and more people will tune into the weather report — even if it is bad news. Furthermore, the evidence of the truth of this story is now so overpowering that I trust my readers will have no choice but to accept it, all questions of sanity aside. If the village idiot says the bell has fallen from the steeple and comes dragging the bell behind him, well, …
Lastly, I have discovered that this subject is not as complicated as it first appeared to be, and I am resolved to avoid the pitfall of trodding the usual convoluted path. What follows, therefore, will be the story of a crime, not a course on criminology.
It was intended that this book would be half its present size and be completed in about one year. From the beginning, however, it took on a life force of its own, and I became but a servant to its will. It refused to stay within the confines prescribed and, like the genie released from its bottle, grew to enormous size. When the job was done and it was possible to assess the entire manuscript, I was surprised to realize that four books had been written instead of one.
First, there is a crash course on money, the basics of banking and currency. Without that, it would be impossible to understand the fraud that now passes for acceptable practice within the banking system.
Second, there is a book on how the world’s central banks — the Federal Reserve being one of them — are catalysts for war. That is what puts real fire into the subject, because it shows that we are dealing, not with mere money, but with blood, human suffering, and freedom itself.
Third, there is a history of central banking in America. That is essential to a realization that the concept behind the Federal Reserve was tried three times before in America. We need to know that and especially need to know why those institutions were eventually junked.
Finally, there is an analysis of the Federal Reserve itself and its dismal record since 1913. This is probably the least important part of all, but it is the reason we are here. It is the least important, not because the subject lacks significance, but because it has been written before by writers far more qualified and more skilled than I. As mentioned previously, however, those volumes generally have remained unread except by technical historians, and the Creature has continued to dine upon its hapless victims.
There are seven discernible threads that are woven throughout the fabric of this study. They represent the reasons for abolition of the Federal Reserve System. When stated in their purest form, without embellishment or explanation, they sound absurd to the casual observer. It is the purpose of this book, however, to show that these statements are all-too-easy to substantiate.
The Federal Reserve System should be abolished for the following reasons:
- It is incapable of accomplishing its stated objectives. (Chapter 1.)
- It is a cartel operating against the public interest. (Chapter 3.)
- It is the supreme instrument of usury. (Chapter 10.)
- It generates our most unfair tax. (Chapter 10.)
- It encourages war. (Chapter 14.)
- It destabilizes the economy. (Chapter 23.)
- It is an instrument of totalitarianism. (Chapters 5 and 26.)
This is a story about limitless money and hidden global power. The good news is that it is as fascinating as any work of fiction could be, and this, I trust, will add both pleasure and excitement to the learning process.
The bad news is that every detail of what follows is true.
G. Edward Griffin