Description
Where does money come from? How is it created out of nothing, and why does its value constantly disappear? Griffin’s classic exposé reads like a high-stakes detective novel, tracing the origins of the US Federal Reserve back to a secret 1910 meeting on a private island off the coast of Georgia. It reveals the mirrors and smoke machines of a banking cartel that transformed the American economy into a grand, inflationary illusion.
From the cause of boom-bust cycles and depressions to the mechanics of modern bank bailouts, Griffin argues that the Federal Reserve is not a government agency working for the people, but a private partnership working for itself. This is a no-holds-barred analysis of what Griffin calls the most blatant scam in history: a system of legalised plunder that has fundamentally reshaped world affairs.
Griffin shows us how Gresham’s law was weaponised to destroy one. The Federal Reserve system is the ultimate engine for “bad money” (fiat currency) to drive out “good money” (gold and silver).
By decoupling currency from tangible value, the Fed ensures that the “bad” money — the inflationary paper — is the only thing people spend, while the “good” value of their labour and savings is quietly siphoned away through the hidden tax of inflation. Griffin demonstrates that when the State mandates a “bad money” monopoly, the people are stripped of the ability to hoard quality, leaving them trapped in a cycle of perpetual debt.
