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AFP Visits Jekyll Island on 
Anniversary of Fed's Founding


By Mark Anderson

JEKYLL ISLAND, GeorgiaJekyll Island is still a secluded place where those inclined to make secret plans would still have reasonable privacy to this day. This isolation, as local museum photos reveal, was more strongly pronounced back in November 1910, when Rothschild banking agent Paul Warburg of Kuhn, Loeb & Company and six other major financial figures met there for 10 days to plan what became the Federal Reserve System, or “the Fed” for short.

Much of the humid island’s character from 100 years ago remains. Countless willow trees still shadow the landscape. Thick vegetation and marshland encircle much of the island.  The place exudes a strange blend of quaint charm and foreboding arrogance. 


Much of the humid island’s character from 100 years ago remains. Countless willow trees still shadow the landscape. Thick vegetation and marshland encircle much of the island.  The place exudes a strange blend of quaint charm and foreboding arrogance. 

AFP’s Oct. 25 visit focused on the Jekyll Island Club Hotel (formerly the island’s Hunt Club). The hotel’s Federal Reserve Room, now used for dining functions, is where the Fed planners did “the deed.” Despite that day’s fresh coat of paint, the nice furniture and the fancy china, the framed picture arrangement of the key Fed planners by the fireplace mantle shows that the room is still nothing more than an elegant crime scene.  The wealthy, stealthy comrades who 100 years ago hammered together this plan of financial conquest evaded direct contact with reporters, sneaking one-bygone aboard Sen. Nelson Aldrich’s posh personal train car, with blinds drawn, in Hoboken, N.J. on Nov. 22, 1910. Disguised as duck hunters while using only their first names, this “star lineup” of high finance, besides Aldrich and Warburg, consisted of:

Benjamin Strong Jr., vice president of the Banker’s Trust of New York and J.P. Morgan’s emissary to Jekyll Island; A. Piatt Andrew, assistant secretary of the Treasury and special assistant to the National Monetary Commission (the only other NMC member besides Aldrich); Frank A. Vanderlip, former assistant Treasury secretary under President McKinley and president of National City Bank; Henry P. Davison, senior J.P.Morgan & Co. partner; and Charles D. Norton, president of First National Bank of NewYork, dominated by Morgan.  Bertie Charles Forbes, who later founded Forbes magazine, wrote decades ago, “The utmost secrecy was enjoined upon all. The public must not glean a hint of what was to be done.”


The only prey these “hunters” had in mind was America’s economic sovereignty, with which to rule the nation. Their plan, through twists and turns, became the Federal Reserve Act. So, on Dec. 23, 1913, arguably the biggest crime in all of modern history was launched by a 298-to-60 House vote with 76 not voting. In the Senate, the tally was 43 to 25 with 27 not voting. The Act, with no constitutional authorization, became Title 12 of the United States Code, Chapter 3. Unlike earlier U.S. central banks that had 20-year charters and were dissolved, the Fed seems to have a permanent charter.  Thus, 341 long-dead legislators saddled today’s 300 million Americans with a ruthless central bank that pretends it’s protecting the public. History shows that the Fed stole and privatized the money and credit of the people of the United States. No mafia, drug cartel or other syndicate even comes close to this. 

No longer able to produce its own money free of interest, the government was forced to hand over securities to the Fed in order to obtain privately made money. Suddenly, every dollar produced was another dollar of debt. The Fed forced the Treasury Department to print Federal Reserve Notes for the cost of ink and paper, regardless of the denomination of the note.  Then the U.S. undertook the “privilege” of buying what should be its own money from the Fed at full face value, plus interest. The Fed became the very engine of the soon-to-be imperial U.S. war machine, spawning most of the political corruption that plagues us now, because it rules the government, and the government—in debt to “the money trust”—rules us on the Fed’s behalf and extracts payments (mainly via the income tax) to pay the interest on the national debt that the Fed drives ever upward, mortgaging the lives and property of every man, woman and child.

Aldrich and Warburg, in essence, parented a privately owned, for-profit central banking system that has never been meaningfully audited. The Fed’s modern-day Open Market Committee meetings, though general schedules are released and short meeting accounts are published only after the fact, are closed to the press, Congress and even the president, despite the fact that the Fed’s key actions regarding monetary policy and interest rates are decided at these closed meetings. Secrecy remains essential for the Fed, ever since Jekyll Island.  A financial reform bill that Barack Obama signed into law this year contains a provision for the Fed to receive its first audit. A retired corporate attorney, relaxing in a rocking chair by Jekyll Island’s museum, was asked about auditing and rethinking the Fed. He responded to AFP: “Oh yeah, there is no question in my mind about that. If you create these quasi-government agencies,” as he put it, “you give them a monopoly and [should] regulate them. That [audit] is the way you justify the monopoly.”

However, more and more mainstream Americans, rocked by relentless financial “earthquakes,” finally are being forced to acknowledge that it’s time to forcefully question the Federal Reserve’s practices—but for the sake of all of our futures, abolition must be put on the table. The sheer power of private central banking has grown in an exponential fashion since the Bank of England’s birth in 1694, and the founding of the Fed later—with such dire results—that ridding ourselves of this curse is the No. 1 issue of all time. 

Mark Anderson is a longtime newsman now working as the deputy editor for American Free Press. Together he and his wife Angie provide many photographs of the events they cover for AFP. Mark welcomes your comments and inputs as well as story leads. Email him at at

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(Issue # 47, Nov. 22, 2010)

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