Guest Post: "The Fed's Sole Purpose: Keeping The Banks Afloat" - G. Edward Griffin

Tyler Durden's picture

Via Casey Research,

“The Fed’s sole purpose: keeping the banks afloat” – G. Edward Griffin

Is the Federal Reserve really doing such a bad job… or does it actually do exactly what it's supposed to do, but the average American is in the dark about what that is?


In this explosive video, Casey Summit speaker G. Edward Griffin, author of The Creature from Jekyll Island, talks about the Fed's real role in the US economy and why – contrary to common belief – it is not this banking cartel's mission to act in the best interest of the American public.



Hear the full details of what G. Edward Griffin believes is the true endgame for the United States and the Western world – plus, listen to 27 other experts and find out how to invest, survive, and thrive in an economy weighed down by government meddling, cronyism, and financial fraud.

Click here for more.

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jeff314's picture

fuck you Bernanke...

falak pema's picture

thats beginning to sound like "Allah o Akbar" at ZH...


NotApplicable's picture

I simply cannot understand the disconnect on the part of Doug Casey, where on one hand, he presents Griffen with his wholly accurate "we've been robbed" scenario, only to be followed by 27 other experts who will tell you how to get in on the scam.

Is integrity really too much to ask for from a person these days? I've both met Mr. Casey personally, as well as subscribed to his newsletter for a few years (until I tired of my above complaint), and he seems like an otherwise exceptional person.

Like I said, I just don't understand him.

Bay of Pigs's picture

Whats your beef? Get in on what "scam"? Casey is a unique person, an avowed hardcore anarchist. Lumping all the other speakers in with him is totally off the mark. His company hosted the conference. Whats wrong with that?

lineskis's picture

The Fed’s sole purpose: keeping the banks afloat

Well, historically the Fed was created (among other things) for just that purpose. So, not quite like the discovery of aquatic wetness but close enough...

sunaJ's picture

The clash of classes will come when all members of society accept this as the mandate of the FED rather than solely the parasitic money changing class. Of course by then, the dollar will be worth less than a sheet of toilet paper and the only going currency will be the ear lobes of central bankers.

The Alarmist's picture

And this is news because ????

Thomas's picture

This is not news but it is linkable and quite possibly ripe for being understood by more than simply the band of crazies who occupy this chatboard. (Terms of endearment, of course.) The populace may be primed to hear his message: link it around the web.

Richard Chesler's picture

 It is not this banking cartel's mission to act in the best interest of the American public.


Repeat until it sinks.

cranky-old-geezer's picture



"keep the banks going" is only half the story. 

Where does the money come from to bail out the banks?

It comes from the American people via currency debasement.

How currency printing and debasement transfers wealth is difficult for the average person to understand.  

A good analogy is a company's stock.  If you have X shares of stock in a company and they issue 100% more stock, your shares lose half their value.   "Printing" more stock stole some of your "wealth".

"Printing" more currency does the same thing.  It reduces the value of currency you have.  The central bank steals some of your wealth, my wealth, everybody's wealth, and gives it to whomever the newly printed currency is given to, Wall Street banks in this case.

You don't realize it's happening because it happens without your knowledge.  But you see the effect of it when prices rise on things you need. 

So here's the full story:  Fed's job is loot all the wealth from America and give it to the banks.

They do it in a very simple way.  Print trillions of dollars of new currency and give it to the banks (or buy worthless crap from the banks with it, same thing).

Since '08 the dollar has lost 50% of it's value from all this currency printing and bank bailouts.  

Since '08 trillions of dollars of wealth have been stolen from the American people and given to Wall Street banks, by the simple silent act of creating trillions of dollars more currency, done with a few computer keystrokes now.

It's not just the Fed looting Americans.  ECB does the same thing to the European people.  BOJ does the same thing to the Japanese people.  PBOC does the same thing to the Chinese people.

Non-redeemable fiat currency that can be "printed" endlessly is the vehicle by which central banks loot a nation's wealth and give it to whomever they want, Wall Street banks in this case.

Remember, fiat currency is like a company's stock.  The more you "print", the less each share is worth.

Central bankers are master pirates.  Smartest pirates on earth.  They can loot an entire nation's wealth, silently, secretly, without anyone realizing it's happening. 

That's pure genius.

sgorem's picture

pure fucking evil.....................

Miss anthrope's picture

the more I know the less sense it really makes.  If I walk in and pass a counterfeit bill I go to prison.......... when they counterfeit our money they all get bonuses and yachts........... What am i missing here?


killallthefiat's picture

I do agree with NotApplicable.  It is unfortunate that we, the little people, have only the choice to profit from the coming collapse, if we have some cash.

My uncle, age 70 used to say that he feared for my future, but has recently acknowledged, like Ed Griffin, that almost all of us will see "the end".


We live in exciting times.

cranky-old-geezer's picture



if we have some cash.

Cash won't help you in the coming collapse, because cash will be worthless.

The coming collapse won't be government collapse, it will be currency collapse, currency losing all value, like Weimar Germany, Zimbabwe, etc.

So no, cash won't help you then.  It'll be worthless.


LetThemEatRand's picture

The Founding Fathers could have profited in their lifetimes from continued British Rule.  They were mostly wealthy.  They risked short-term profit for their beliefs.    This author/linker of videos advocates profiting from an understanding of the policies of the oligarchs.  I'm not passing judgment, because I'm not sure there is a viable alternative at this point.  They didn't have drones or armored vehicles that could heat seek gun fire in the 1700's.

NotApplicable's picture

I did no such thing as "lumping him in." My point is the conference in general.

As I said, on a personal level (I've both met him, and read him for years) I find his ideology and commentary to be spot on (in other words, completely coherent). Yet, rather than adopting "Tu Ne Cede Malis," and refusing to support evil, he instead advises on how to leverage it to ones' advantage. I find this to be a complete disconnect between actions and beliefs. I would assume he has adopted a more "pragmatic" approach, but I consider that to be a slippery slope of ethical calculus.

Bay of Pigs's picture

You said  "only to be followed by 27 other experts who will tell you how to get in on the scam."

Sorry, but I'm wondering what the "scam" is you are referring to. Making money on PM and mining experts advice is bad?

Landotfree's picture

"it is not this banking cartel's mission to act in the best interest of the American public"


The Fed's mission is simple, assist in the expansion of the global credit system until it hits max potential.   The Fed does not have unlimited power and certainly can't do much about the coming collapse except convince the lemmings the helicopters are coming... thereby postponing the collapse as long as possible.   

Once the Banks are wiped out... the liquidation of the nonperforming unfunded liabilities will have to start double time.   

And that guy's book is not going to help.

robertocarlos's picture

But I'm a nonperforming unfunded liability!

steelhead23's picture

We ALL are.  They want us ALL to die.

RockyRacoon's picture

"...that guy's book..."  One of the most influential books in the last few decades about the Fed.   Shows how little you actually know.

Disenchanted's picture



Eustace Mullins was way ahead of him.

Some say G. Edward might have done more than a little 'copying' from Secrets of the Federal Reserve (1952)



Rothschild added five golden arrows (right image) held in the eagle’s talons, signifying his five sons who operated the five banking houses of the international House of Rothschild


Ever heard of Five Arrows Capital and other subsidiaries?


Westcore Properties Obtains Up To $200 Million Investment From Five Arrows Realty Securities

August 2011


SAN DIEGO – Westcore Properties, a San Diego-based real estate investment and acquisitions firm, announces that it has obtained up to a $200 million investment from Five Arrows Realty Securities V, LP (Five Arrows), according to Marc Brutten, the company’s Executive Chairman. Five Arrows is an investment fund managed by New York-based Rothschild Realty Managers, LLC (RRM), a leading provider of growth capital to public and private real estate companies.


Disenchanted's picture




Here's an excerpt from Chapter 5 of Secrets of the Federal Reserve by Eustace Mullins regarding our old 'friends' at J. P. Morgan:


The pre-eminence of J.P. Morgan and the Brown firm in American finance can be dated to the development of Baltimore as the nineteenth century capital of the slave trade. Both of these firms originated in Baltimore, opened branches in London, came under the aegis of the House of Rothschild, and returned to the United States to open branches in New York and to become the dominant power, not only in finance, but also in government. In recent years, key posts such as Secretary of Defense have been held by Robert Lovett, partner of Brown Brothers Harriman, and Thomas S. Gates, partner of Drexel and Company, a J.P. Morgan subsidiary firm. The present Vice President, George Bush, is the son of Prescott Bush, a partner of Brown Brothers Harriman, for many years the senator from Connecticut, and the financial organizer of Columbia Broadcasting System of which he also was a director for many years.


To understand why these firms operate as they do, it is necessary to give a brief history of their origins. Few Americans know that J.P. Morgan Company began as George Peabody and Company. George Peabody (1795-1869), born at South Danvers, Massachusetts, began business in Georgetown, D.C. in 1814 as Peabody, Riggs and Company, dealing in wholesale dry goods, and in operating the Georgetown Slave Market. In 1815, to be closer to their source of supply, they moved to Baltimore, where they operated as Peabody and Riggs, from 1815 to 1835. Peabody found himself increasingly involved with business originating from London, and in 1835, he established the firm of George Peabody and Company in London. He had excellent entree in London business through another Baltimore firm established in Liverpool, the Brown Brothers. Alexander Brown came to Baltimore in 1801, and established what is now known as the oldest banking house in the United States, still operating as Brown Brothers Harriman of New York; Brown, Shipley and Company of England; and Alex Brown and Son of Baltimore. The behind the scenes power wielded by this firm is indicated by the fact that Sir Montagu Norman, Governor of the Bank of England for many years, was a partner of Brown, Shipley and Company.* Considered the single most influential banker in the world, Sir Montagu Norman was organizer of "informal talks" between heads of central banks in 1927, which led directly to the Great Stockmarket Crash of 1929.


Soon after he arrived in London, George Peabody was surprised to be summoned to an audience with the gruff Baron Nathan Mayer Rothschild. Without mincing words, Rothschild revealed to Peabody, that much of the London aristocracy openly disliked Rothschild and refused his invitations. He proposed that Peabody, a man of modest means, be established as a lavish host whose entertainments would soon be the talk of London. Rothschild would, of course, pay all the bills. Peabody accepted the offer, and soon became known as the most popular host in London. His annual Fourth of July dinner, celebrating American Independence, became extremely popular with the English aristocracy, many of whom, while drinking Peabody’s wine, regaled each other with jokes about Rothschild’s crudities and bad manners, without realizing that every drop they drank had been paid for by Rothschild.


HardAssets's picture

I've read/heard those charges against Mr. Griffin, and looked into them for myself. The claims are completely baseless.

As many of us know, almost 100 years ago a group of wealthy/influential men gathered together in secret. They hid their identities, and only addressed themselves by their first names or used code words. They got together to plan the establishment of a central bank. There was an air of mystery to the whole event, and it isnt any wonder that any account of it would reflect this.  Eustace Mullins said that his writing was taken 'word for word' (and that charge was repeated by those who must not have actually looked into this for themselves). The charges aren't true.

If one wrote a detective novel and had the usual elements in it - - criminal, victim, mysteries to solve, and a dectective hot on the case - - - it would be a complete and false stretch to claim that every other dectective novel was a rip off of your work. Same with a  sports page article of the actions in a football game; different accounts will have similiar elements to them given that they are dealing with the same event.

Euctace Mullins contributed a great deal and I have read his works and appreciate them. But he was wrong in his charges, though he may have sincerely believed them.

Those who repeat such charges without actually investigating them do an unwarranted disservice to Ed Griffin, who has been trying to warn people on these sunbjects for more than 50 years. He's been at it longer than any other living individual that I can recall. Such charges also do a disservice to those who may benefit greatly from reading/hearing Mr. Griffins account of those events - which are for the most part still unknown to the American people who have been so harmed by them.

Please evaluate anything you read/hear with an open mind, the insistance on evidence, and sound logical thinking. Don't just repeat something you heard or read without actually looking at the facts for yourself.

Disenchanted's picture



I just said that "some say" he did some copying.


I really don't care one way or the other, but the fact remains that Mullins was way ahead of Griffin. I guess it's all good if one obtains the info from either or.

HardAssets's picture

My friend, "some say" is a dangerous phrase. A charge without taking responsibility or giving proof. It can be used to undermine people, even if unintentionally.

I do appreciate your posting the passages above, however.  Thank you for doing so.

I do agree that Mullins was a remarkable researcher and writer. All that inform others on these topics should be recognized.

blabam's picture

Casey just wants to make money off of this clusterfuck. Norhting wrong with that imo. 

traderjoe's picture

There is everything wrong with that. Among other things, that just makes him paid opposition.

roadlust's picture

You're right, it's nothing more than another "get rich by buying our 27 cassettes!" scam, with lots of moral indignation thrown in so that you can feel "justified" in particpating in the immorality yourself, or by making up some of your own immorality.  So many people want to believe "making money" is somehow an ethical end in itself, no matter what the means are.  You're not going to convince those folks that exploiting people is a problem. 

Bay of Pigs's picture

LOL. Exploiting people? How so? You vote with your feet. So don't buy the tapes. Nobody has a gun to your head. Some of you guys are way out there when it comes to investment advice. Not everyone is a crook.

I used to get Casey, and Richard Russell, Jay Taylor, Bob Chapman, Jim Dines, Jim Willie, David Morgan, I've heard and seen them all. Some of them are really good, some not so good. Ever heard the term "due dilligence"?


RockyRacoon's picture

Interesting talk by G. Edward Griffin.   There is an odd flavor of G. Carlin in the speech but Carlin was a lot funnier.

killallthefiat's picture

Carlin is not funny here.  I am not sure what they people in the crowd are cheering for and laughing about. 

HardAssets's picture

Sometimes people laugh in an 'aha' reaction to hearing the truth spoken (very rare in our society today).

They are applauding George for speaking the truth and having the guts to do so.

erg's picture

Hey Rocky...I remember from some time ago that you have a coin shop. How's byz with the phyzz if you don't mind my asking?

What's the ratio of buyers versus sellers?

RockyRacoon's picture

I sell both coins and stamps.   I'm selling all the stamps I can and turning it into PMs.... period.  I sell off the numismatic coins to gain the premiums and I am keeping all the bullion grade coins.   The writing is on the wall.  As long as there is a smidgen of discretionary income out there to tap into I'll continue to convert paper (stamps and fiat) into PMs to hold onto.  All the rest is noise.   My days of buying coins for a 2% margin to sell price are over.  Buyers are of two types:  Those who are in the numismatic field and want to add to a collection (they usually have money and will buy what they can afford regardless of the economy), and there are the bulk buyers (accumulators we call them) who feel that bags full of anything are good!  Very few are focused on coins that will retain their value in the form of wealth preservation.

BigJim's picture

 Yet, rather than adopting "Tu Ne Cede Malis," and refusing to support evil, he instead advises on how to leverage it to ones' advantage. I find this to be a complete disconnect between actions and beliefs. 

Why? He speaks out often enough about the corruption in the system. What else can he do?

Don't blame the surfers for the weather, duuuude!

Alexandre Stavisky's picture

Mr. Griffin.  Such a fine gentlemen.  Articulate and devoted to increasing the knowledge of the criminal cartel that obtains full bellies by power to mint, transmit, and create money as well as cause stampedes and herding activities that enrich them and impoverish the true dreamers, makers, and doers.  I've purchased and re-read his book many times.  Never disappointed.

Men and those like him, with great integrity and pure scruples, would make barren places rich.

Cathartes Aura's picture

Mr. Griffin also co-produced, and appears in "What in the World Are They Spraying?" - documentary about geoengineering/aerosoling, in case you're interested.

recent follow-up, "Why in the World Are They Spraying?"

anyone interested in the food supply chain might want to watch these.

Cosimo de Medici's picture

Casey is unique?  An a-hole, maybe, but unique?  He's mostly an arrogant sideshow carnival barker selling "the secret" to gullible fools.  Where his a-hole-ness shows up best is when he discusses "charity".  He tosses it all in one basket, whether it is govt charity or free and willing private charity, which he describes as "taking from proven producers to give to proven failures".  Fuck him and his arrogance.  If this a-hole was born a female in Bangladesh he would still be "Doug Casey"?  Even a great person---which Casey is not---often needs a helping hand to overcome the circumstances of his birth, over which one has absolutely no control.

Accidents of birth have far more to do with "success" than whatever he thinks made him the a-hole he is.  If he wants to be self-centered and self-absorbed, that's fine, but at least be honest about it instead of trying to portray himself as something he is not.  If TSHTF, the Universe might be made right again if Casey gets roasted alive by all those "proven failures".  Casey can produce........lunch.

TheObsoleteMan's picture

Brilliant people are seldom understood by average people.

Stud Duck's picture

Your argument for moral turpitude in noted as one who feels the high road is one that should be taken at all time.  The best answer I can give you is the same as one gave new replacments in the little war 41 years ago, this is war, to survive you must play ruthlessly, without compassion for you fellow man. The people in charge of you do not care about your life just their career, they basically don;t care if you get killed. The people on the other side are trying to kill you. The purpose is to survive, nothing else matters.

This is an economic war, you must crawl out the hole you dug the night before, sling your weapon, sling your pack, and put one foot in front of the other, hope you make it through another day to dig another hole to sleep in, end of lesson.


alangreedspank's picture

If the ref says the net is now 1 foot larger, there's nothing wrong about shooting in that new extra space. If you have a beef, blame the ref.

Chuck Walla's picture

Laws and rules make a scam a system.


CH1's picture

thats beginning to sound like "Allah o Akbar" at ZH...

Nah, I never hear it followed by loud noises.

Radical Marijuana's picture

Since privatized fiat money is a crazy cult that was enforced to become our STATE RELIGION, it makes sense that either worshipping, or cursing, the local incarnation of that religion makes basic sense! Recall that the fundamental idea that you referred to, falak pema, is "surrender to the will of Allah" ... which actually means surrender to the man, or men, who get to say what is the "will of Allah." Since Islam aspires to be a state religion, it makes plenty of sense that that man, Benanke, and those men, The Federal Reserve Board, who get to say what the "will of Allah" is MATTER to us! ... We were born inside of a system where everything you need, or want, like food, and shelter, depends on your ability to make money and spend it ... so your life depends upon the state religion, in which the Chairman of the Fed IS like the Pope, and the other members of that Board are Cardinals, much like IF you where living inside of a totally Catholic society, which was completely dominated by that church, and which had excommunication, and the inquisition, to back them up! Since it is practically impossible to live outside of the state religion that dominates our lives, OF COURSE, people either worship, or curse, the symbolic manifestation of that state religion in its local human incarnations.