Book 20

The Creature from Jekyll Island by G. Edward Griffin

Type: Nonfiction, Business, Money & Banking

My rating: 5 stars (out of 5)

Why I chose it: I have been searching for a clear explanation of what the exact purpose of the central bank in the United States (the Federal Reserve) is and why we need it.

What I liked about it: It is worth noting that the Federal Reserve System is our nation's fourth central bank. The previous three collapsed. It is also worth noting that having a central bank is the fifth criteria in Carl Marx's Communist Manifesto. The first third and last third of Creature are absolutely fascinating stuff written like a mystery novel. The middle third includes a lot of history, which got a little tiring for me, but I understood why it needed to be included. When things are done in secret, you know that something is going on that someone doesn't want you to know about. The Fed was created in 1913 following a secret meeting a few years earlier on Jekyll Island off the coast of Georgia (ironically 1913 was the same year the income tax started, which interestingly is the second criteria of the Communist Manifesto). Today the Fed operates in secrecy and is not subject to audit. This book exposes the Fed for what it is and demonstrates the devastating effect the Fed has on debasing our currency and reducing our purchasing power. Three other books on this subject that are worth reading, all written by Murray N. Rothbard, include: The Mystery of Banking, What Has the Government Done to Our Money, and The Case Against the Fed.