A Realistic Scenario

THE FINAL CHAPTER

I recently revisited ‘The Creature from Jekyll Island’ by G. Edward Griffin, focusing specifically on Chapter 26. This chapter presents a comprehensive 16-point plan aimed at dismantling the Federal Reserve System. If this concept feels foreign to you, you’re not alone. Griffin suggests that ending the central bank could initiate a radical shift towards financial liberty and economic stability, though opinions on this are varied and deeply contested.

The plan outlined in the book touches on legislative and logistical actions that Griffin advocates for a complete overhaul of the current monetary system. This isn’t just about policy change; it’s about a fundamental shift in how money and economics are perceived and managed in the United States.

Griffin’s 16 steps range from immediate actions, like halting the printing of new money, to long-term strategies, such as reverting to a commodity-based currency. Each step is designed to take control away from the Fed and return it to a system less dependent on central banking principles.

Critically assessing these steps, I’ll aim to provide clarity on how they might reshape the financial environment. For instance, ending the Fed’s control over interest rates could potentially democratize lending practices, but it could also lead to short-term instability as markets adjust.

What stands out is the monumental challenge such changes would pose. Altering a century-old institution involves not just legislative battles but also shifts in public sentiment. The potential risks and rewards of this plan have sparked debates among economists, policymakers, and citizens alike. As we transition from understanding the what to the how, it’s essential to consider how one might personally prepare for such sweeping changes. Let’s explore this in the following section, focusing on concrete ways to stabilize your financial future in light of these proposals.

Bracing for Transition: A Six-Point Prep Guide

If you’ve read Chapter 26 of ‘The Creature from Jekyll Island,’ you know the book presents a six-point plan to prepare for a significant shift in the financial system. This shift hinges on the idea of the Federal Reserve ending, an event that would undoubtedly send waves through the economy. So, I’ll walk you through the practical measures you can take to fortify your financial health against possible market volatility.

The first step is assessing your financial situation with a fine-tooth comb. Create a comprehensive inventory of your assets and liabilities. KNOW where you stand.

Next, it’s essential to create an emergency fund. Aim for a reserve that can cover at least six months of living expenses. This can act as a buffer in case the market destabilize. For example, copper pennies, smaller demonations of paper currency, and olds silver coins should be to cover the economic storm when it shows up.

Diversification is your ally in protecting your wealth. Spread your investments across various asset classes, including stocks, bonds, real estate, and precious metals. This strategy helps mitigate the risk of a financial upheaval affecting all your holdings.

Reducing debt, especially high-interest debt, is a critical step. Should the economy wobble, you don’t want to be weighed down by significant debt burdens. Work on a plan to pay down loans and credit balances.

Consider acquiring assets that historically hold or increase in value during times of inflation or economic distress, such as gold or real estate. These can be havens in stormy financial weather.

Finally, stay informed about financial news and trends. Knowledge IS power, especially regarding your money. Regularly educate yourself to make informed financial decisions.

Education as a Catalyst: The Seven-Point Crusade

I believe that empowering individuals through education is key to any significant societal change. In ‘The Creature from Jekyll Island,’ the author outlines a seven-point plan aiming to enlighten the public about the Federal Reserve System and its impact. Here’s how this educational movement could lay the groundwork for financial reform.

The plan begins with encouraging critical thinking about the current economic system. The book suggests starting conversations that question the role and functions of the Fed. By prompting individuals to think critically, the groundwork is laid for deeper understanding and potential reform.

Secondly, the importance of knowledge sharing can’t be understated. The author emphasizes using documentaries, books, and seminars to spread understanding about the Federal Reserve. Sharing credible information helps to build a community of informed citizens ready to engage in meaningful discourse.

Next, the plan advocates for a push in grassroots movements. The emphasis is on local action groups that could influence policy change through collective awareness and campaigning. Giving people a platform to voice their concerns and solutions can drive momentum towards change.

Fourth, the use of political pressure comes into play. This translates to pushing for legislation that aligns with the principles of ending the Fed. Lobbying elected officials and voting with an informed perspective are methods that could reshape the political landscape in favor of reform.

The fifth point involves leveraging the educational systems. Integrating discussions about the Federal Reserve into school curricula could build a foundation of financial literacy from a young age, fostering a generation of financially savvy individuals.

Point six underscores the power of media. The book suggests harnessing traditional media and social platforms to amplify the message. It argues for creating engaging content that can stir public interest and encourage wider conversations about the financial system.

Finally, the plan culminates with the creation of alternatives to the current financial system. This involves endorsing systems that operate on transparency and accountability, which uphold the public’s interest over that of private banking cartels.

In essence, this seven-point crusade emphasizes an educational approach, vital in molding public opinion and readiness for change. As I transition to the next section, I’ll explore what America might look like without the Fed and how measures from this educational blueprint could make that vision a reality.

Envisioning a Post-Federal Reserve America

I often wonder what America’s economy might look like without the Federal Reserve. This isn’t just an academic question; it’s central to how we understand our financial system and to conversations about potential reform.

Without the Federal Reserve, which provides centralized control over monetary policy, we would likely see a more decentralized and perhaps more volatile financial environment. The absence of a central bank could lead to more regional economic behaviors, with local banks and financial institutions playing a greater role in shaping the economic landscape of their respective areas.

In terms of the pros, advocates of this change suggest it could result in increased transparency in monetary policy and a reduction in the manipulation of currency. Some believe it might even prevent future financial crises by removing the safety net that encourages risky financial behavior, known as “moral hazard.”

On the flip side, the cons could be significant. Without the Fed’s regulation, there might be a risk of runaway inflation or deflation, depending on how well the new system controls the money supply. Moreover, the Fed currently acts as a lender of last resort during crises, a service that would need a new provider or mechanism in its absence.

The everyday American would likely experience a period of adjustment. Mortgage rates, savings account yields, and the availability of credit could all fluctuate as the new system finds its footing. Businesses, too, would need to adapt to changes in loan availability and economic stability.

Any policy adjustments would require careful consideration. New financial institutions or systems would need to be developed to perform some of the functions that the Federal Reserve handles now, such as managing inflation and overseeing the stability of the financial system.

As we move into the final section of our discussion, it’s clear that ending the Fed would not only reshape the economy, but also the very fabric of American finance. It’s a complex and nuanced task that beckons insightful debate and sophisticated planning. So what was the plan for eliminating the fed? Here is the list, the book goes into more detail:

1. Repeal the legal- tender laws
2. Freeze the present supply of Federal Reserve Notes
3. Define the “real” dollar in terms of precious-metal content
4. Establish gold as an auxiliary monetary reserve
5. Restore free coinage at the U.S. Mint
6. Pay off the national debt with Federal Reserve Notes created for that purpose
7. Pledge the government’s hoard of gold and silver to be used as backing for all Federal Reserve Notes in circulation
8. Determine the weight of all the gold and silver owned by U.S. government
9. Determine the number of all the Federal Reserve Notes in circulation
10. Retire all Federal Reserve Notes from circulation
11. Convert all contracts based on Federal Reserve Notes to real dollars
12. Issue Silver Certificates
13. Abolish the Federal Reserve System
14. Introduce free banking
15. Reduce the size and scope of government
16. Restore national independence

Beyond the Book: Modern Interpretations and Actions

The dialogue initiated by ‘The Creature from Jekyll Island’ extends well beyond its publication. Contemporary economic thought has both aligned with and diverged from Griffin’s perspectives. It’s essential for you to recognize that applying the principles from a book requires adaptation to the constantly shifting economic sands.

I want to guide you through actionable steps that resonate with the philosophy of the book, yet are tailored for today’s financial ecosystem. It’s about being proactive and making informed decisions, which often begin with a rigorous personal financial audit and continued economic education.Adapting Griffin’s outlined plans to our time means acknowledging the evolution that has taken place since the book’s release. The digital currency surge, shifts in global trade, and unprecedented events, all factor into how we might envisage a future financial reform. As stated in this book there are seven reasons to abolish the Federal Reserve System:

1. It is incapable of accomplishing its stated objectives
2. It is a cartel operating against the public interest
3. It is the supreme instrument of usury
4. It generrates our most unfair tax
5. It encourages war
6. It destablizes the economy
7. It is an instrument of totalitarianism

Lastly, critical thinking is paramount. While ‘The Creature from Jekyll Island’ advocates for the end of the Federal Reserve, it’s important to consider the plurality of opinions from economists and financial experts. Contrasting views can provide a deeper understanding and prevent the echo chamber effect that often stifles constructive debate.

In conclusion, the strategic steps derived from Griffin’s work serve as a starting point for personal and educational endeavors. However, applying these insights in practice requires vigilance, flexibility, and a commitment to ongoing learning about the ever-evolving world of finance. End the Fed Now.

Chapter 25  A Pessimistic Scenario

Introduction What are Banks For?