Ben Bernanke, Alan Greenspan, a Goldman Sachs Managing Director – a fitting invitee — and others descended upon Jekyll Island, Georgia, for the weekend to celebrate the Fed’s founding.
The immensely powerful and secretive institution, which has the exclusive reins on the US money supply, is coincidentally recognizing the occasion with another round of quantitative easing to the tune of $600 billion. Is the election going to help change things? Well… you can form your own opinion on that as you take a look at the clip below, which came to our attention via a Daily Bail post on the Fed celebrating a century of domination.
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A Century of Money Mischief
On precisely the same weekend in November as the Republican victory parties in and around Washington, the Fed celebrated its centennial far away from its DC home at Jekyll Island, Georgia. One hundred years ago, seven US Congressmen and bankers gathered together in secret at this highly remote location to lay the political foundations for what would become, in 1913, the Federal Reserve Act. The ostensible purpose of creating the Federal Reserve was to provide for greater financial stability in the wake of the US banking panic of 1907. So how has the Fed fared in this role?
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