Author Archives: Egon Von Greyerz

     

 

Egon Von Greyerz is a Member of the Goldbroker.com Editorial Team

 

An Untenable System

In November 1910, some powerful US bankers joined by the influential Paul Warburg had a meeting on Jekyll Island that would determine the destiny of the world financial system and the world economy for over 100 years. This infamous meeting led to the creation of the Federal Reserve System in the US on December 23, 1913.

The Fed was created by private bankers for the benefit of private bankers and today, 100 years later, they have been more successful than they could ever have imagined in 1913.

Not only have they created a system that efficiently controls the world financial system for their personal benefit but also world politics. They totally understood the advice of Mayer Amschel Rotschild, the founder of the Rothschild banking dynasty, who famously proclaimed:

 

“Give me control of the nation’s money and I care not who makes its laws.”

 

So for exactly 100 years now, the Fed and other central bankers have totally destroyed all major world currencies and left the world with debts that cannot and will not be repaid with normal money. And whilst achieving this unprecedented wealth creation for the top level of financiers, they have in the last 15 years also managed to enrich almost every single individual who works in Wall Street in New York or in the City in London.

In 2008 the financial system almost collapsed had it not been for an injection of printed money, debt and guarantees by governments and central banks to the level of $25 trillion. Banks like Goldman Sachs, JP Morgan and Morgan Stanley would not have survived without this massive liquidity infusion. But even that year when these banks were on the verge of bankruptcy, most bankers received a similar bonus to the previous year.

 

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