Why doesn't the United States set up its own central bank, but let the private sector open it?

The Federal Reserve is the abbreviation of "Federal Reserve Bank of America". In fact, it is neither "federal" nor "reserve", let alone "bank". The fact is that the US government has no right to issue money at all! If the U.S. government wants to get dollars, it must mortgage the American people's future taxes (national debt) to the private Federal Reserve, which issues "Federal Reserve bonds", that is, "dollars". The nature and origin of the Federal Reserve is a tacit "forbidden zone" in American academic circles and news media. 1910165438+1On the night of October 22, in a completely sealed train carriage outside New York City, all the windows were tightly covered by curtains, and the train slowly moved south. The carriage was full of the most important bankers in America, and no one knew the destination of their trip. The destination of the train is jekyll Island, Georgia, hundreds of miles away.

Jekyll Island in Georgia is a winter resort owned by a group of super-rich. A big shot headed by J.P. Morgan set up a Jekyll Island Hunting Club. The wealth of 1/6 on the earth is gathered in the hands of the members of this club, and the membership can only be inherited and cannot be transferred. At this time, the club was told that someone would use the club premises for about two weeks, and all members could not use the club during this period. The service staff of the clubhouse are all transferred from the mainland, and all the guests who come to the clubhouse are called by their first names and never by their surnames. Make sure there are no journalists within 50 miles of the club.

When everything was ready, the guests appeared in the clubhouse. The top secret meeting was attended by:

Nelson aldridge, Senator, Chairman of the National Monetary Committee, nelson rockefeller's grandfather; Piater Andrew, Assistant Secretary of the US Treasury; Frank Vanderlip, President of National City Bank of new york; Henry Davidson, Senior Partner of JPMorgan Chase; Charles Norton, President of the First National Bank of new york; Benjamin Strong, J.P. Morgan's right-hand man.

Paul warburg, a German Jewish immigrant, came to the United States in 190 1, a senior partner of Kuhn Rabe Company, an agent of the Rothschild family in Britain and France, the chief architect of the Federal Reserve and the first curator of the Federal Reserve.

These important people came to this remote island, and their main task was to draft an important document: the Federal Reserve Bill.

Paul warburg is an expert in bank operation, and he knows almost all the details of bank operation. Paul naturally became the main drafter and interpreter of the document.

Nelson aldridge is the only layman of all people. He is responsible for making the contents of the document conform to the requirements of political correctness and be accepted by Congress. Others representing the interests of different banking groups argued about the details of Paul's proposal for nine days and finally reached an understanding.

Because the name of the central bank is too popular, the name of the central bank has been closely related to the conspiracy of international bankers in Britain since President Jefferson, so Paul suggested using the name of the Federal Reserve system to hide people's eyes and ears. However, it has all the functions of a central bank. Like the Bank of England, the Fed is designed to be private and will benefit greatly from it. Unlike the first and second banks, the original 20% government shares of the Federal Reserve were cancelled, and it will become a "pure" private central bank.

In order to make the Fed system more deceptive, on the question of who controls the Fed, Paul cleverly put forward: "Congress controls the Fed, and the government is represented on the board of directors, but most members of the board of directors are directly or indirectly controlled by the banking association."

Later, Paul changed the final version to "the members of the board of directors are appointed by the President of the United States", but the real function of the board of directors is controlled by the Federal Advisory Committee, which meets with the board of directors regularly to "discuss" the work. The membership of the Federal Advisory Board will be decided by the directors of 65,438+02 Federal Reserve banks, which has been deliberately concealed from the public.

Another problem that Paul has to deal with is how to hide the fact that new york bankers will dominate the Fed. Since the19th century, the majority of small and medium-sized businessmen and farmers in the midwest of the United States have suffered from the banking crisis and hated the bankers in the east. It is impossible for legislators in these areas to support new york's bankers-led central bank. Paul designed a genius solution for this, which consists of 12 regional banks of the Federal Reserve. Outside the banking circle, few people understand that under the basic premise that the issuance of money and credit in the United States is highly concentrated in new york, the proposal to establish a regional federal reserve bank only gives people the illusion that the business of the central bank is not concentrated in new york.

Another embodiment of Paul's foresight is that he set the headquarters of the Federal Reserve in Washington, D.C., the political capital, and deliberately stayed away from new york, the financial capital that really obeyed him, so as to further disperse the public's worries about new york bankers.

Paul's fourth problem is how to produce the managers of 65,438+02 Federal Reserve regional banks, and aldridge's congressional experience has finally come in handy. He pointed out that legislators in the Midwest are generally hostile to new york bankers, and in order to avoid losing control, the directors of all regional banks should be appointed by the president without the intervention of Congress. However, this has created a legal loophole. Section 8 of Chapter 1 of the Constitution clearly stipulates that Congress is responsible for issuing management currency, excluding Congress, which means that the Federal Reserve has violated the Constitution from the beginning. Later, this really became the target of many members attacking the Fed.

After this ingenious arrangement, the bill appeared in the form of imitating the separation of powers and checks and balances in the US Constitution. President's appointment, congressional deliberation, independent directors and bankers as consultants, what a watertight design!