Creature From Jekyll Island by G. Edward

pessimism. It is called realism. Calling it a realistic scenario is not meant to imply that it is predetermined to happen, nor that it is even likely to happen. It is realistic only in the sense that it can happen if certain conditions are met. The balance of this chapter will be devoted to an analysis of those conditions.

Let us begin by allowing our opponent, Cynicism, to state the problem we face: "Is it realistic to believe that the current trends can actually be reversed? Isn't it just fantasy to think that anything can be done at this late date to break the CFR's hold over government, media, and education? Do we really expect the gum-chewing public to go upstream against the indoctrination of newspapers, magazines, television, and movies?"

Apathy joins in* "Forget it. There's nothing you can do. The bankers and politicians have all the money and all the power. The 1. See chapter seventeen.

A REALISTIC SCENARIO

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game is already over. Make the most of it, and enjoy life while you can."

Do not listen to Cynicism and Apathy. They are agents of your enemy. They want you to quietly get in line and submit without a struggle. However, they do make a point that must not be

overlooked. The battle has progressed far, and our position is not good. If we are to reverse the present trends, we must be prepared to make a herculean effort. That does not mean "Write your Congressman" or "Vote on Tuesday" or "Sign a petition" or "Send in a donation." That is far too easy. Those measures still play an important role in the battle plan but they fall far short of the need.

Armchair campaigns will no longer do it.

Before turning to the question of what kind of effort will be required, let us first be clear on ivhat it is we want to accomplish.

WHAT MUST NOT BE DONE

Let us begin with the negatives: what must not be done. The most obvious item in this category is that we must not turn to government for more of the same "cures" that have made us ill. We do not want more power granted to the Fed or the Treasury or the President, nor do we need another government agency. We probably don't even need any new laws, with the possible exception of those legislative acts which repeal some of the old laws now on the books. Our goal is the reduction of government, not its expansion.

We do not want to merely abolish the Fed and turn over its operation to the Treasury. That is a popular proposal among those who know there is a problem but who have not studied the history of central banking. It is a recurrent theme of the Populist movement and those advocating what they call Social Credit. Their argument is that the Federal Reserve is privately owned and is independent of political control. Only Congress is authorized to issue the nation's money, not a group of private bankers. Let the Treasury issue paper money and bank credit, they say, and we can have all the money we need without having to pay one penny in interest to the bankers.

It is an appealing argument, but it contains serious flaws. First, the concept that the Fed is privately owned is a legal fiction. The member banks hold stock, but it carries no voting weight. No matter how large the bank or how much capital is paid in, each bank has one vote. The stock cannot be sold or traded. Stockholders 568 THE CREATURE FROM JEKYLL ISLAND

have none of the usual elements of control that come with ownership and, in fact, they are subservient to the central board.

The seven members of the Board of Governors are appointed by the President and confirmed by the Senate. It is true that the Fed is independent of direct political control, but it must never be forgotten that it was created by Congress and it can be extinguished by Congress. In truth, the Federal Reserve is neither an arm of government nor is it private. It is a hybrid. It is an association of the large commercial banks which has been granted special privileges by Congress. A more accurate description would be simply that it is a cartel protected by federal law.