G. Edward Griffin: The “Federal” Reserve is a Privately Owned Cartel

From Whale.to:

Victor Thorn:
John Rockefeller said, “Competition is a sin.”

G. Edward Griffin:
“Absolutely! All of his biographers quoted him on that. So they began to look for ways to eliminate their competition, and of course, if they couldn’t beat them in the open marketplace, which was the old way of eliminating competition, now they were looking for new ways, and that was to form monopolies and cartels – to go into joint ventures with competing firms so that they could no longer compete on price or markets, patents and processes. They would come together and form a cartel, and then they wouldn’t have to compete and they could share the market. Well, that was what was happening at the turn of the century; and lo and behold, when you look at these men sitting around the table at a clubhouse on Jekyll Island, all of a sudden you realize, “Oh my gosh, the Federal Reserve System is a CARTEL.” And that is exactly what it is. It is not a government agency. It is a cartel no different than the banana cartel, the oil cartel, or any other. It just happens to be a banking cartel. That is the second thing that emerges from the study of what happened on Jekyll Island.”

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