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Borodog · #64 10-12-2007, 05:20 PM

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The biggest conspiracy in the history of the world in my opinion was the founding of the Fed, and it's not even a secret. It's right out in the open, albeit enshrouded in obfuscation and apologetics. But basically everyone agrees that a small group of the richest men in the world, powerful bankers, got together and wrote the Federal Reserve Act, granting them a banking cartel that has shaped the course of world history ever since. Pretty interesting stuff.

Rothbard gave a great lecture on the founding of the Fed:

http://mises.org:88/Rothbard-Fed

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ahhh, something that everybody agrees upon, is out inthe open, and ... yet is only found on mises??

could you possibly link to somewhere other than the biased website for this factual everybody knows it out inthe open theory?...

EDIT: ... and preferrably not internet/youtube documentaries. you were very quick to do this in the case of the monopoly discussion with respect to microsoft so if it is out there and as you claim, you should be able to do this without mises.

thanks,
Barron

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Why must you be such a douche?

http://en.wikipedia.org/wiki/Jekyll_Island

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Role in the history of the Federal Reserve
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Jekyll Island was the location of a meeting in November 1910 that may have hastened the creation of the Federal Reserve. Following the Panic of 1907, banking reform became a major issue in the United States. Senator Nelson Aldrich, (R-RI) the chairman of the National Monetary Commission, went to Europe for almost two years to study that continent's banking systems. Upon his return, he brought together many of the country's leading financiers to Jekyll Island to discuss monetary policy and the banking system, an event which some say was the impetus for the creation of the Federal Reserve.
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On the evening of November 22, 1910, Sen. Aldrich and A.P. Andrews (Assistant Secretary of the Treasury Department), Paul Warburg (a naturalized German representing Kuhn, Loeb & Co.), Frank Vanderlip (president of the National City Bank of New York), Henry P. Davison (senior partner of J. P. Morgan Company), Charles D. Norton (president of the Morgan-dominated First National Bank of New York), and Benjamin Strong (representing J. P. Morgan), left Hoboken, New Jersey on a train in view of a group of confused reporters, who were wondering why these bankers, representing about one-sixth of the world's wealth, were gathering at this particular place and time and leaving together.
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Forbes magazine founder Bertie Charles Forbes wrote several years later:
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Picture a party of the nation’s greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily riding hundred of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned, lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance. I am not romancing; I am giving to the world, for the first time, the real story of how the famous Aldrich currency report, the foundation of our new currency system, was written... The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done. Senator Aldrich notified each one to go quietly into a private car of which the railroad had received orders to draw up on an unfrequented platform. Off the party set. New York’s ubiquitous reporters had been foiled... Nelson (Aldrich) had confided to Henry, Frank, Paul and Piatt that he was to keep them locked up at Jekyll Island, out of the rest of the world, until they had evolved and compiled a scientific currency system for the United States, the real birth of the present Federal Reserve System, the plan done on Jekyll Island in the conference with Paul, Frank and Henry... Warburg is the link that binds the Aldrich system and the present system together. He more than any one man has made the system possible as a working reality.

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http://en.wikipedia.org/wiki/Federal_Reserve

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After the Bank Panic of 1907, Congress created the National Monetary Commission to draft a plan for reform of the banking system. Senate Republican leader and financial expert Nelson Aldrich headed the Commission. Aldrich set up two commissions — one to study the American monetary system in-depth and the other, headed by Aldrich himself, to study the European central-banking systems and report on them.[2] Aldrich went to Europe opposed to centralized banking, but after viewing Germany's banking system came away believing that a centralized bank was better than the government-issued bond system that he had previously supported. Centralized banking was met with much opposition from politicians, who were suspicious of a central bank and who charged that Aldrich was biased due to his close ties to wealthy bankers such as JP Morgan and his daughter's marriage to John D. Rockefeller, Jr. In 1910, Aldrich and executives representing the banks of J.P. Morgan, Rockefeller, and Kuhn, Loeb, & Co., secluded themselves for 10 days at Jekyll Island, Georgia.[2] The executives included Frank Vanderlip, president of the National City Bank of New York, associated with the Rockefellers; Henry Davison, senior partner of J. P Morgan Company; Charles D. Norton, president of the First National Bank of New York; and Col. Edward House, who would later become President Woodrow Wilson's closest adviser and founder of the Council on Foreign Relations.[3] There, Paul Warburg of Kuhn, Loeb, & Co. directed the proceedings and wrote the primary features of the Federal Reserve Act. Warburg would later write that "The matter of a uniform discount rate (interest rate) was discussed and settled at Jekyll Island." Vanderlip wrote in his 1935 autobiography From Farmboy to Financier :
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I was as secretive, indeed I was as furtive as any conspirator. Discovery, we knew, simply must not happen, or else all our time and effort would have been wasted. If it were to be exposed that our particular group had got together and written a banking bill, that bill would have no chance whatever of passage by Congress…I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System.”

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Despite the importance of the Jekyll Island meeting, it remained a secret to both the public and the government until journalist Bertie Charles Forbes wrote an article about it in 1916, three years after the Federal Reserve Act was passed.

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Forgive the referencing of wacky anti-government conspiracy sites like wikipedia. There are any number of pro-Fed books that document how the Fed came into existence. As I said, it isn't a secret.

I would ask you for the eleventy-billionth time to ever actually show how an argument that comes out of the Mises Institute is actually *logically wrong* or *factually incorrect*, but I've come to the conclusion that it would be useless. All you seem interested in is argument by dismissal of source.