OPINION
The Doctor
G. Edward Griffin’s A Creature from Jekyll Island is a book that had a great influence on me. It is the story of the creation of the US Federal Reserve system in 1913. Its creation signalled the final defeat of the people of the USA in a 250-year battle to retain independence from the international bankers.
The story is full of skullduggery and deceit with assassinations, manufactured wars and propaganda battles. There is an apocryphal quote attributed to Woodrow Wilson that he regretted his signing of the Federal Reserve Act saying
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit…[O]ne of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.”
The men to whom he refers were the international bankers who conspired to create the Federal Reserve System on Jekyll Island in 1910.
The Federal Reserve is neither Federal nor does it have any reserves. Rather it is owned and controlled by those same international banks that created it. The system is international in that it sits outside the jurisdiction of the United States of America.
Its aim is to control all money. In 1913, money was gold and silver and the promissory notes that banks issued against the gold and silver they held for their customers. The minting of gold and silver coins was reserved for Congress by order of the constitution. But Wilson and Congress had handed over that power to an international private banking cartel.
First, the Federal Reserve inflated the US economy in the roaring ’20s via fractional reserve banking. Banks were allowed to issue loans so long as they held reserves of gold and silver equal to 13% of the value of the loans. Read that again. The banks did not need to back every dollar that they lent with gold or silver. They could issue cheques against an account up to almost eight times the gold and silver they held.
Then, in 1929, the Federal Reserve pulled the plug with a large contraction of the money supply leading to massive deflation and the great depression. Banks collapsed. People were desperate. And in their desperation, they allowed Congress to confiscate the gold holdings of the American People and give them to the Federal Reserve. The United States went into bankruptcy in 1933 and the Federal Reserve began issuing bills of exchange called Federal Reserve notes. These notes were no longer redeemable for gold and silver within America. The Fed then revalued gold to $35 an ounce from $20 an ounce, stealing billions of dollars in purchasing power from the American people.
Then, in 1971, President Nixon stopped international redemptions of Federal Reserve notes for gold and the dollar became a fiat currency. This meant the Federal Reserve could print as many dollars as it liked. And it did. Consider that it now takes more than 2200 Federal Reserve notes to buy a $20 gold coin: inflation of more than 110 times (11000%)
What does this have to do with New Zealand? The Reserve Bank Act 1933 made the Reserve Bank the Federal Reserve of New Zealand. The Act has mostly identical provisions to the Federal Reserve Act. And it has many provisions for bankruptcy leading some to believe that New Zealand was bankrupted at the same time as the US. It was originally a private bank[i] and although the shares are now held by treasury, I think it is still controlled by the international bankers. The redeeming of Reserve Bank notes to gold and silver stopped in 1964 and the bank has printed vast quantities of fiat currency ever since. It continues to take purchasing power from New Zealand people every day.
Thus, the Reserve Bank follows the pattern of the Federal Reserve system. It has no reserves of gold or silver but can create fiat currency out of nothing at all. And I think it is controlled by the same international banking interests that are represented by the words of Mayer Amschel Rothschild founder of the Rothschild banking dynasty.
Give me control of a nation’s money supply, and I care not who makes its laws.
We will not be able to change New Zealand for the better while international bankers control our currency and money. We therefore must start with one of the roots of the problem. The Reserve Bank.
[i] Ken Matthews The legal history of money in New Zealand RESERVE BANK OF NEW ZEALAND: Bulletin Vol. 66 No. 1 p48 https://www.rbnz.govt.nz/-/media/project/sites/rbnz/files/publications/bulletins/2003/2003mar66-1matthews.pdf accessed 24/3/24