Why Are The Big Banks So Powerful?

G. Edward Griffin provides the answer in his book The Creature from Jekyll Island, A Second Look at the Federal Reserve. On page 203 he writes:

“Inflation can be likened to a game of Monopoly in which the game’s banker has no limit to the amount of money he can distribute.  With each throw of the dice he reaches under the table and brings up another stack of those paper tokens which all the players must use as money. If the banker is also one of the players – and in the real world that is exactly the case – obviously he is going to end up owning all the property. But, in the meantime, the increasing flood of money swirls out from the banker and engulfs the players. As the quantity of money becomes greater, the relative worth of each token becomes less, and the prices bid for the properties goes up. The game is called monopoly for a reason. In the end one person holds all the property and everyone else is bankrupt. But what does it matter. It’s only a game.

Unfortunately, it is not a game in the real world. It is our livelihood, our food, our shelter. It does make a difference if there is only one winner, and it makes a big difference if that winner obtained his monopoly simply by manufacturing everyone’s money.”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: