What's the validity of The Creature from Jekyll Island? I read that it cherry picks quotes, omits important documentation and simplifies or inaccurately describes economic processes. I read close to 200 pages of it but I felt I was reading more of novel than a book covering historic events and economics.
>>25404370I ordered that book from the publisher back when it was hard to find and they kept mailing me stapled together muitipage conspiracy theory reading lists and order forms for supplements.
>>25404420that's what you deserved
>>25404370the thing about the subjects of economics and history is that barely any of it is true so a book like this is as good as any other. i'd say eustace mullins' book is probably a little better because it doesn't really go into economic theory. still has unprovable bullshit in it but less than this brick of shit.
>>25404370>it cherry picks quotes, omits important documentation and simplifies or inaccurately describes [x]isn't that pretty much true of any nonfiction book?
>>25404502Probably.
>>25404569No, not really. In order for those accusations to be true for nonfiction then fiction would have to display the opposite traits, but then it wouldn't be "fiction" but something else.
>>25404585that's not how words or logic or thinking work, put down the crack pipe
>>25404370If you want to seriously learn about the Federal Reserve you’ll have to jump into dry, highly detailed scholarship like Allen Meltzer’s History of the Federal Reserve. The first few chapters discuss the intellectual development of central banking theory going back to Adam Smith, Henry Thornton and Walter Bagehot and the influence of the works of these guys before discussing the conditions that led to the creation of the Fed. The Creature of Jekyll Island does not go into this, it simply tells you that the Fed was created to benefit the comically evil banking elite.I should remind you that the rise of a centralised monetary institution in the United States was becoming inevitable due to the enourmous growth of its industries in the 19th and 20th centuries. Companies grew exponentially, and for investments to keep up with this growth, more money is necessary, leading to more and more loans having to be taken out, leading to more paper money entering circulation, which then causes bankruns to occur when paper notes cannot all be converted back into gold. The existance of an institution providing liquidity for lending institution is a requirement for a nation growing as fast as the United States. It is literally unsustainable under a fixed monetary supply. Any lolbert that tries to convince you otherwise is a literal retard.In the panic of 1907, the New York Clearinghouse Association, which was effectively a cartel of bankers, bailed out other banks as a lender of last resort, which was to be the effective role of the Fed in the future. When lolberts tell you that the Fed is an evil banking cartel that exists to keep bankers in power, keep in mind that such an institution already privately existed. The Fed is not a perfect (and in many ways not even a good one imo) institution and I’m far from a neokeynesian libshit, but the rise of an institution existing to maintain the institutional power of banks in the United States was ineveitable due to the very nature of its economy.That’s not to say The Creature of Jekyll Island is wholly not worth reading. It is probably the most popular book about the Fed ever written, and provides a nice gateway into learning what the average hillbilly retard thinks the Fed is. Just don’t take much of it seriously if you want to actually learn about the Fed.
>>25404370>>25404420Absolutely true as are most conspiracies, conspiracy theories are just facts established before they are proved.
>>25405015>comically evilTo be fair they actually arehttps://m.youtube.com/watch?v=dk3AVceraTI&pp=ygUQVGhlIGdyZWF0IHRha2luZw%3D%3D
>>25405017>conspiracy theories are just theories
>>25405015USA's industrial might was built under the gold standard. After it ended the financial gambling sector has been slowly taking over the economy. Trump tries in vain to re-industrialize the country, but why build factories when you can build financial schemes? The academics have every financial incentive to glaze the banking system. Reality trumps theory every time. There are many real life examples of hyperinflation, while the deflationary spiral has stubbornly remained the stuff of fiction. It's almost as if real people can't just defer consumption forever. According to the economists the price of breathable air simply needs to keep increasing, otherwise people will just hold their breaths indefinitely.The Clearing House would've had a limited ability to bail out scammers, while the Fed has infinite capacity. The Fed only tries to put limits on the scamming because people would eventually revolt. Without pitchforks and ropes hanging from lamp posts banking would have no rules. That's why the rules only ever tighten after a particularly onerous scam comes to light. There's no other limit to the banker's grift strangling America.In a fiat money system all banks do is bookkeeping, yet somehow they become "systemically important". Imagine suggesting that the guy keeping score was the most important person in football and should be paid accordingly. It's a laughable notion, and also the reality we live in.
>>25405015The federal reserve privatized functions constitutional endowed to the federal treasury. Lolberts are right about it being a private cartel, and there having been a private cartel like the Clearinghouse before it hijacked the federal treasury doesnt make things any better.
