Glenn Beck Goes Deep Into Federal Reserve, “The Creature from Jekyll Island” With Author G. Edward Griffin

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(Free-Press-Release.com) April 3, 2011 -- For the full article, links and videos go to: http://glennbecksbooklist.com/?p=1050

On March 25, 2011 Glenn Beck went deep into the Federal Reserve with author, The Creature from Jekyll Island, G. Edward Griffin. Below are a many links to more information about the Federal Reserve, G. Edward Griffin and this show with Glenn Beck.

Here is a little bit of the exchange between Glenn Beck and G. Edward Griffin:

BECK: We see the way they’re working the bubbles now. But let me go back into the past.

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Glenn Beck Goes Deep Into Federal Reserve, “The Creature from Jekyll Island” With Author G. Edward Griffin

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We see this clump of crashes here. And I know — correct me, if I’m wrong. I think it’s like a panic in the 1890s, 1892, or 1896, where I believe it was J.P. Morgan that loaned money to the United States. He came in and personally bailed out and said, I’ll lend you money.

Then another one happened in like ’03. And he said, you know, I can’t do this anymore. You guys are on your own. But I’ll get my friends together and bail you guys out one more time. And they did.

And that’s what kind of led to this. Correct?

GRIFFIN: Well, that’s exactly the historic origin of it. But I think underlying this, we have to recognize the principle of the Ponzi scheme. The system really is a Ponzi scheme as we’re living through it right now.

It works as long as the money supply continues to expand and expand and expand. Like any Ponzi scheme, you pay off the first investors so that they’re very happy. They bring in the new investors. As long as it expands it works. But when it finally stops, the whole thing comes to an end. That’s why they have to keep expanding the money supply.

Well, when you create money out of nothing, you also face the fact that money goes back into nothing. So, this kind of a system makes the expansion and contraction inevitable. The booms and the bust are inevitable.

If the money were backed by something solid, like...

For the full article, links and videos go to: http://glennbecksbooklist.com/?p=1050

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