Part 1: Sinister Beginnings
The Federal Reserve System was created by 7 men in 1910 at a highly secret meeting on Jekyll Island, just off the coast of Georgia.
The 7 men were:
- Senator Nelson Aldrich, Republican whip in the Senate and the chairman of the National Monetary Commission, which was the special committee of Congress created for the purpose of making recommendations to Congress for proposed legislation to reform banking. He was also a key business associate of J.P. Morgan and the father-in-law of John D. Rockefeller.
- Abraham Andrew, Assistant Secretary of the Treasury.
- Frank Vanderlip, President of the National City Bank of New York, which at the time was the largest bank in America representing the financial interests of William Rockefeller and the international investment firm of Kuhn, Loeb & Company.
- Henry Davison, senior partner of J.P. Morgan Company.
- Charles Norton, President of First National Bank of New York.
- Benjamin Strong, head of J.P. Morgan's Banker's Trust, and who 3 years later became the first head of the Federal Reserve System.
- Paul Warburg, the most important player of all. A naturalized American citizen, born in Germany, and one of the wealthiest men in the world. He was a partner in Kuhn, Loeb & Company and also the representative of the Rothschild banking dynasty in England and France. His brother Max Warburg was the head of the Warburg banking consortium in Germany and the Netherlands.
These are the players. Tomorrow in Part 2 of the Federal Reserve series ... Secret Journey.
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