December 23, 1913, is a tragic day in American history that you’ll never read about in public school history books.

It’s the day President Woodrow Wilson signed the Federal Reserve Act into law.

The banking cartel had unlawful authorization to print money, devalue the American dollar, and spark inflation.

G. Edward Griffin was 100% correct in calling this monstrosity a ‘creature.’

The Federal Reserve is a disgusting creature that lies at the core of the country’s economic calamity.

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And it’s all by design to enrich wealthy bankers and strip the working class of their wealth.

Per Wikipedia:

The Federal Reserve Act was passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913. The law created the Federal Reserve System, the central banking system of the United States.

According to the Federal Reserve, the central bank of the United States is to “provide the nation with a safer, more flexible, and more stable monetary and financial system.”

However, that’s far from reality.

The Federal Reserve Act created a banking monopoly that destroyed the purchasing power of the country’s currency.

Mises Caucus explains:

More info from the Mises Institute:

The Morgan and Rockefeller bankers on Wall Street dreamed of having a central bank that could supply money when needed, as a “lender of last resort.” A central bank would also control the banks’ inflation rate. If bank reserves could be maintained at a central bank and a common reserve ratio established, then no single bank could expand credit more than its rivals, and therefore there would be no bankruptcies caused by currency’s draining from overly inflationary banks. All banks would inflate in harmony, and there would be tranquility and profits for all.

The bankers who traveled a thousand miles to meet on Jekyll Island in November 1910 understood they needed a cartel to bring their dream to life. And they needed the threat of state violence for the cartel to work.

Thus, included in their secret meeting were two politicians serving as the bankers’ advocates in Washington. The bankers planned to establish their cartel over the Christmas holidays, while the American public was distracted, though for political reasons it was delayed until 1913.

The public would be a hard sell. Americans were profoundly suspicious of Wall Street and cartels. They distrusted anything big in business or government. A central bank operating for the benefit of the big banks had no chance of becoming law, unless it was promoted as shackling Wall Street itself. This could be accomplished, it was widely believed, through a government bureaucracy of overseers.

Ancap Air writes:

Today, December 23, 2023, marks 110 years since the establishment of the Federal Reserve System. It stands as a testament to centralized financial control, perpetuating an intricate web of fallacies that plague the global economic landscape. A creation shrouded in secrecy, and conceived on Jekyll Island, it embodies a sinister creature that inflicts severe harm on the fabric of economic stability. Its inception heralded an era of fiat money, fractional reserve banking, and perpetual debt, and it established constructs fundamentally flawed, designed to serve the interests of a select few at the expense of the many.

At its core lies the fallacy of fiat money, a system wherein currency holds no intrinsic value and is instead backed by the mere decree of government, subject to manipulation at the whim of central authorities. This departure from sound money, like precious metals, has allowed unchecked expansion of the money supply, leading to devaluation, inflation, and the erosion of purchasing power for hardworking individuals. The Fed’s unchecked power fabricates money with impunity, bestowing upon it an insidious tool for control over markets, individuals, and governments alike.

Fractional reserve banking, another offspring of the Fed’s system, permits banks to lend out money multiples larger than what they hold in their actual reserves, conjuring additional money out of nothing. This alchemy of finance amplifies the initial injection of new (counterfeit) money, creating a house of cards where the ratio of actual assets to debt becomes increasingly precarious. This fractional reserve system thrives on the illusion of wealth creation while etching a reality of perpetual debt enslaving future generations.

Perpetual debt becomes the hallmark of the Federal Reserve, intertwined with the government’s insatiable appetite for spending. The cycle perpetuates itself: the government issues bonds, the Fed takes custody of them, injecting newly created money into the system, driving interest rates down and fostering an illusion of economic prosperity at the cost of saddling future generations with crippling debt burdens.

Notably, the Fed’s policies don’t stop at economic distortion. They intertwine with the fabric of global politics, serving as a catalyst for perpetual war. The ability to finance conflict through monetary expansion masks the true costs of war, allowing governments to wage campaigns without fiscal accountability, perpetuating cycles of violence under the guise of stability and security. Over the span of the Federal Reserve’s 110-year existence, the United States has been engaged in “armed conflict” for 81 out of those years. To put this another way, the United States has only been at peace for less than a single year out of every four.

Contrary to this bleak scenario, the promise of a truly free-market monetary system, with decentralized cryptocurrencies and precious metals at its helm, offers a beacon of hope. In this realm, various forms of money compete based on their inherent and intrinsic value (something fiat currency lacks entirely). Precious metals like gold and silver, with their scarcity and historical proven value, stand poised to offer stability counter to fiat’s perpetual devaluation.

Simultaneously, decentralized cryptocurrencies present an innovative frontier, underpinned by blockchain technology and driven by market forces. Bitcoin and its competitors showcase a paradigm where individual autonomy over wealth is restored, transactions are transparent, and monetary policies are dictated not by a select few, but by the open and voluntary consensus of participants.

A competitive monetary system commands stability, eliminates inflationary pressures, and safeguards the individual’s wealth and savings. It liberates financial autonomy from the grasp of centralized authorities, ensuring that economic prosperity is no longer a byproduct of flawed policies but a result of market-driven principles grounded in transparency and genuine value. In this world, monies derive their worth from genuine demand, scarcity, and trust (qualities starkly absent in the fiat empire).

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The 110th anniversary of the Federal Reserve System serves as a call to dismantle this flawed institution that perpetuates economic injustices. It’s a call to embrace a system that places the power of wealth back into the hands of individuals where it belongs, ensuring a future where financial sovereignty and stability are not the privilege of a select few, but the birthright of every individual engaging in the market. It is time for the creature to die.

“Today in 1913, the Federal Reserve Act was passed, which gave a cartel of banks a monopoly over the issuance of currency. Since then, the dollar has lost over 90% of its value & the govt has been in a state of perpetual war,” Sal the Agorist noted.

 

Liam McCollum writes:

The Federal Reserve Act was signed into law 110 years ago today. It should be abolished.

Murray Rothbard in The Origins of the Federal Reserve:

“The financial elites of this country, notably the Morgan, Rockefeller, and Kuhn, Loeb interests, were responsible for putting through the Federal Reserve System, as a governmentally created and sanctioned cartel device to enable the nation’s banks to inflate the money supply in a coordinated fashion, without suffering quick retribution from depositors or noteholders demanding cash.”

Murray Rothbard in The Mystery of Banking:

“In short, the Central Bank functions as a government cartelizing device to coordinate the banks so that they can evade the restrictions of free markets and free banking and inflate uniformly together. The banks do not chafe under central banking control; instead, they lobby for and welcome it. It is their passport to inflation and easy money.”

“110 years ago today. And, yes, they created the Federal Reserve 2 days before Christmas so the public wouldn’t notice. Psyop from day one,” Peter St Onge noted.

“On this day 110 years ago, the Federal Reserve was created. Since then, the US Dollar has lost more than 97% of its value. Put another way, the US government and Federal Reserve have stolen 97% of your wealth, before you pay a penny in taxes. It is long past time to end the Fed and get government out of the money business, for good,” Spike Cohen said.

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