A Secret Meeting And The Birth Of The Federal Reserve | Planet Money | NPR

COVID-19 isn't the first natural disaster to shake the world economy, but today we're more prepared for it than ever.
In 1906, an earthquake in San Francisco started a chain of events that by 1907 had destroyed the US economy. Unemployment was up. The stock market was down. People started panicking. They were lining up overnight to pull their money out of healthy banks. This can be deadly for an economy: Healthy banks have to shut down, businesses can't get credit, they lay people off, and the economy gets worse.
At the time, the U.S. government had no way to deal with the panic. There was no institution that could step in to stop the run on healthy banks. So the job of stopping the panic fell to one man: J.P. Morgan (of JPMorgan fame).
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[@ZEUSAIMIGHTY]

Where’s the part about stealing the wealth of the American people? I must have missed that.

[@jocsanabdala9456]

I look into when FDR ordered the American public to sell their Gold to the government ( it was stored at Fort… something) , only to turn around and sell it to Rockefeller and friends who would turn around sell it to European nations for TWICE what the American public sold theirs for.

[@jocsanabdala9456]

Really it was 100 times what the public sold it for.

[@TimEssDub]

You mean like what the uber-wealthy are doing right now?

[@Lucifer777_]

A private institution controls the inflation and deflation of an entire nation’s currency. You don’t have to steal it if it’s already yours. Possession is 9/10ths of the law, as they say.

[@DavidNicholson101]

@@Lucifer777_The currency, but not the real wealth the currency is supposed to represent. The mob makes the money and holds a gun to your head and tells you you’ll use their private currency at interest or they’ll send their jackals after you.

[@cwaldrip]

Somehow I don’t think the actual bankers were nearly this diverse. ;-)

[@pmaii7707]

Of course not

[@fayegoulet64]

Ridiculous...and misrepresenting history

[@slickmashable]

Revisionist Historians for artistic effect

[@Biyou22]

Would it make you happier if they were all white men in this video?

[@cwaldrip]

Sarcasm is lost on people. I enjoyed the video, learned some stuff, and appreciate the diversity on display because it isn’t race/gender correct. Geez... >:(

[@robertdowney28]

Informative video, wish it would have included the next century of global human suffering caused by financial manipulation and perpetual debt slavery.

[@jzmcgriggs8652]

Oh you mean the same century where the human population went from 1.5 billion to 8 billion? Sounds like global human suffering to me..... NOT.

[@cryptojoecoin5480]

I pray for their demise daily. We will gain our freedom from the banksters after they destroy themselves trying to deploy a CBDC. They are finished.

[@mikejm7004]

And the truth about who it actually was that started it.

[@saam4312]

You can thank the jews for that

[@saam4312]

You can thank the juwz for that

[@Laotzu.Goldbug]

2:13 LMAO. Imagine thinking that a single one of the bankers looked anything like this.

[@Biyou22]

Oh wow

[@NumberOneChina]

oi vey, shut it down

[@drunkenoctopus6311]

It’s all about the “optics” nowadays. Propaganda spread so thick....Stanley Kubrick would be impressed.

[@DavidNicholson101]

I was thinking the same thing.

[@johnjoe_247]

i was hoping someone would say it and low and behold , here it is . Why skew the truth so harshly , It is what it was . Good luck trying to Re Write History .

[@thebigred4]

Read "The Creature from Jekyll Island" for the real story, if you don't want the 2nd grade level analysis.

[@JustWasted3HoursHere]

It did okay for a 6 minute video though.

[@user-di3st1ei2j]

I'm not sufficiently interested in monetary policy to read a book about it. But thanks anyway.

[@user-di3st1ei2j]

@@lsnows That kind of genuine, helpful reply to my dismissive sarcasm is what keeps me coming back to the NPR Comment Section-community.

[@lsnows]

@@user-di3st1ei2j Touche.

[@DaedricFaZe]

Or you can read "The Bear from Jekyll Island"

[@lampblacktangency426]

They forgot to mention the slew of powerful people opposed to centralized banking who perished in the Titanic, which was owned by J.P. Morgan. Mr Morgan, who advertised his ship “unsinkable”, was supposed to board it, but decided at the last minute not to. Also, none of his precious stuff were loaded in the ship.

[@Unxpekted]

They "forgot". It's NPR, establishment based.

[@DDqnq]

I read that for myself. It's actually documented. The who's who of the time. If I can remember, prominent people such as Straus, one from the Guggenheim family, John Jacob Astor the IV, as well as others were on board the ship. Interesting info.

[@Unxpekted]

@@DDqnq Astors, Illuminati bloodline!

[@rockingvines3835]

@@Unxpekted what do you mean by the establishment ?

[@jarry1595]

Conspiracy theory

[@Jim.Simpson]

My tax dollars paid for this misinformation. 🤦‍♂️

[@jdewalt9847]

Nothing here is misinformation... The acting is done by thespians ... But the facts are all facts

[@Jim.Simpson]

@@jdewalt9847 thespians don't make it true. This is misinformation, and it's recorded by the hands of those who were actually there.

[@Unxpekted]

💯. NPR = propaganda

[@cryptojoecoin5480]

😂 So intuitive. These inbred sociopathic parasites are humanity’s greatest enemies. They won’t get away with their plans this time around. They are finished.

[@jocsanabdala9456]

The federal reserve is a grandchild of the Bank of England, which funded both sides of European conflicts for hundreds of years. For years prior to its conception, the Bank of England pressured the US to establish its own. The Bank of England had a big problem with the success, stability, and efficiency of the US non-gold-backed currency for many reasons. A central bank in the US would give the Bank of England the perfect means to manipulate American finance. Unfortunately, they got what they wanted😔

[@rolly6020]

can you give me more info on this? About Bank of England and how they control the world economy

[@jocsanabdala9456]

@@rolly6020 speaking about central banks in general, they loan money to different countries financing wars, municipal projects, or anything else ANYONE needs. They set the interest rates of whatever country they’re in- included is the power to start or end economic depressions. They also control the money supply, which extends to control over a country’s inflation rate. In the United States, the Federal Reserve is a private bank, making the name misleading

[@Ramzblood]

it is also been stated, that at this meeting, the Financial system would be shifted over to the East. Was the TPP and Paris Agreement the first stage of this? Is there any correlation with agenda 21 and this "changing of the guard?" Is there any correalation with COVID 19 and Agenda 21? How does China fit into the restructuring of America? How much debt was intentionally borrowed in order to make this transition a reality? hmm..."we'll see". And finally who was behind the COVID 19 poison? Who and what forces were invoked to make this happen? gues we'll just SEA

[@Latest88]

Federal reserve control by THE ROCKEFELLERS,THE ROTHSCHILD,MORGAN

[@quest2782]

do you know any good books or some worthy mention quotes on this topic i need some for researcher thanks.

[@Billy011]

And that's how you create a debt based skavery system.

[@traderjay2261]

Good old slavery for the common people, tax true money and stealpur wealth

[@DavidNicholson101]

Yup.

[@BhanuSisodiya-fl8fy]

And created money in air

[@bobann3566]

No you do not. You create a slavery system based in debt when you have a government that monetizes its debt and then taxes the income of the individual to pay for the interest and rolls over the principle into new debt never paying it down. Banks are not the problem, Governments are.

[@fisch246]

Bankers bailing themselves out you say? So there's no reason at all to have it then. Got it loud and clear.

[@dabaddesthombre2092]

This would imply that we don’t need banks then? Or want banks?

[@fisch246]

@@dabaddesthombre2092 no that we don't need the fed

[@jarry1595]

What solution do you have to the banks failing?

[@fisch246]

@@jarry1595 the better question is should we commodify people? Should we accept that those with disability have a harder time making others money, creating less worth in their existence? Should we allow that they get stolen from, should we pressure them into suicide? Or should re regulate the banks and take care of people based on their needs? Rather or not a rich person, someone who gets paid to exploit others while not working, happens to lose money that is stolen from others, I'm not exactly going to be too bothered. Should banks in themselves exist? Sure, there's use for them. There's a larger use in other forms of banking obviously, but banking as a concept is fine. However if every major bank failed right now, we'd have a functioning economy for a short period of time. By fail, I mean completely liquidate with none of the assets being passed on. The minor banks who aren't credit unions are welcome to exist so long as we stop bailing them out. We shouldn't purposely make a non-cyclical economy. Pay people, they buy things, they get paid more, they buy more things. This is a working economy. Something I haven't seen my entire life. Yet the only thing someone can do to counter any of this is to mislabel me as a communist. The worst part of the hyperreal is having any kind of conversation about politics. Anyway, tl;dr is I think it's more important to regulate. They shouldn't have as much power as they do. I just want to live in a country where corporations aren't part of the executive branch (e.g. Chile coup).

[@bobann3566]

@@jarry1595 Crickets.

[@jamesduclos2545]

A bank run wouldn't be any cause for concern if bankers didn't practice fractional-reserve banking!

[@sadoon1000]

That's how any modern banking system works

[@jamesduclos2545]

@@sadoon1000 Unfortunately! What other line of business can run like that?

[@amillionlittledingdongs6768]

@@sadoon1000 no shit Sherlock. That’s the crime. All banks are run the same way because they’re run by the same bankers.

[@adiintel1]

You know there's a other word for bank run... Ponzi scheme But they won't tell you that.

[@jamesduclos2545]

@@adiintel1 Excellent point!

[@TomSaviniFan7]

Private bakers with so much influence over our governmenr economy, that meet in cloak and dagger like settings,....I'm sure they always act ethically, right?

[@unabrett69]

Who was the black banker in 1907?

[@fern5811]

Diversity hire

[@YSLRD]

Likely a cousin to the women.

[@LukeAurio]

Planet Money: So the Fed makes your money safer! Ron Paul: **Glowers Intently**

[@herbmaaster]

@@Dasein2005 and tiger woods is a novice golf player

[@Dasein2005]

@@herbmaaster Like you have great taste and judgment. lol.

[@DavidNicholson101]

Ron Paul said the Constitution should be legalized. Says everything you need to know about how we’ve been scammed. Conservatives say Trump is the answer. Liberals say Biden is the answer. I say the Constitution is the answer.

[@chisquared100]

The Fed is toast. Evil private syndicate. But you knew this...

[@mr1bienvenu1]

Why did they have to do something about panics, because they loaned out too much of the depositors money because they were greedy.

[@claudiasimpson4386]

I can't take this clip seriously, when they showed Women and Blks as actors owning Banks. At that time that wasn't possible. Leave it to politically correct N.P.R !!!.

[@aeAble]

Are you sure it wasn't the fact that the banks were handing out fraudulent receipts and hoarding their gold? Rather than a earthquake suddenly causing a financial collapse. I've heard alot of ideas but this ones definitely creative lol

[@condaquan9459]

Haha money printer go brrr

[@adamwalker2377]

What genuinely scares me is that enough people will happen across this video and, having an attention span blunted by social media, will take it at its word and not go any further. We're doomed. If I haven't lost you yet, go read The Creature From Jekyll Island.

[@jdewalt9847]

I read the book and this is pretty accurate

[@justthefactsmam9]

@Adam Walker, agree! I wanted to watch it to see just how NPR framed the story. As usual propaganda bullshite!

[@Unxpekted]

💯, misinformation from good ol' establishment owned NPR

[@goodmorningfiatnam]

Moloch was the inspiration for the Federal Reserve.

[@ScottPowersArt]

It's my understanding that the house they created the banking system in was built directly on top of an altar of the Timucua tribe. They were tall averaging 62-64in, and allegedly would offer their first born to be clubbed in a ritual. It is said that the house was built on said altar, where Rockefeller and JP Morgan altered history forever.

[@quest2782]

on Jekyll island?

[@AmandaPandaWhoLivesInaVeranda]

@@quest2782 Yes, on Jekyll Island.

[@jarry1595]

Holy fuck y’all are dumb

[@heartlesshorseman4202]

62-64 inches is tall?😂 60 inches is 5 feet ! So at the most 5'4 is tall ? 😅

[@R1GAMBLER]

the Creature From Jekyll Island 👃

[@edwardk3]

I wasn't sure if they were going to make it out to be pro or against the fed. But then when the duck hunters were "diverse" and it was NPR. I knew they would never make them out to be villains. I knew that it was pro fed. And I was right.

[@AK36677]

People need to stop paying taxes.🤮🤮🤮🙄

[@heydirle]

I don't think this explains why Banks are safer now than 1907. The Fed had limits on how it could act in the 2009 global financial crisis. It couldn't save every bank and nonbank.

[@codyhayes3920]

The story is impressive but I’m more concerned of how we know it

[@michalmikulasi5193]

finally someone with a very good question!

[@Laotzu.Goldbug]

We only know it because it's not the truth. It's propaganda. You think that NPR is going to tell you anything critical about the US globalist system? If so I have a bridge to sell you

[@aaronw2522]

Wow

[@JustWasted3HoursHere]

But at first wasn't the money that the Fed lended based on actual gold held in storage, rather than (basically) a promise like it is today?

[@MU-go1fq]

Yes was fiat currency based on the value of gold reserves each country held

[@kimberly_cristina]

Right, it conveniently left out how our money is now fiat money, no longer backed by gold and this makes the American dollar very volatile. There is no tangible asset.

[@DavidNicholson101]

@@kimberly_cristinaIsn’t it supposed to be partially backed by oil?

[@GrantShipman]

I'm more scared after watching that.

[@Murdrad]

Cool video. Could you do one on the K variable next?

[@planetwalker798]

I think we should ALL be questioning why the banks need a bail out? Of course we know they don't; was there any objection? I for one want my money in the Monopoly box - which is where the value lies. Isn't it curious that the secret location is named Jekyll Island??

[@silvestrediaz579]

Thank you Mr willson for IRS and income taxes :)

[@KiranKumar-um2gz]

love that animation funny too.subscribed.

[@robertrichard6107]

This You Tube is meant to wet the interest of the young and/or naive searching sycophants:) It's pretty hillarious the more you know.

[@conservativecoffee]

Thanks for the "G" version... for the "R" version read The Creature of Jekyll Island, you'll be grabbing your face in horror.

[@TonyL-gw4qx]

They forgot to mention they also make 5% of the interest collected.

[@mysticmess9963]

How about we focus on why the bankers built cabins on top of Canaanite altars on Jeckyll? How [they] sacrificed babies to their Nephilim god's that very week. Cute video.

[@jordanjames8864]

What do you mean thank? The FED is the reason for all our problems.

[@RobertShaverOfAustin]

I think this recording/podcast in November of 2015 but I guess it's still correct today. So why republish this now? Is it because of the falling value in the US stock market? Okay, banks are safe but my retirement is almost entirely invested in the USA stock market. There's no Government safety net in securities is there? I suspect that the people that do really well in the stock market very likely have some form of inside information and that the government is not insensitived to police these people very closely as long as the keep a low profile. Let's face it, the unwashed 99% are only able to ride on the coattails of the 0.1%. This is the true trickle-down economy. Crumbs for the rest of us.

[@tylerphelps3028]

The only thing wrong about this video was that the biggest bankers in the world other than JP Morgan were black or were women lmao women can't be bankers or gamers

[@Jspore-ip5rk]

Lmfaoooo

[@YSLRD]

The ONLY thing?😂

[@young9534]

I read The Creature From Jekyl Island. That book makes the federal reserve and all its creators sound like the devil. Is it really that bad?

[@InsipidRoustabout]

How well did you read the book if you need to ask that question?

[@young9534]

@@InsipidRoustabout authors have their own bias. Never bad to ask questions

[@technofoundry]

yes, its worse.

[@grunkles]

After reading the articles on the newspaper props, I'm starting to wonder what the actors are actually saying during filming...

[@tdolz]

Surprised NPR would openly talk about their overlords.

[@Yoooooomoma]

You skipped when Taft said he would never sign that bill and they founded Teddy 3rd party run so Wildrow Wilson could win and sign the FRC

[@dlit]

Big banks contributed a huge amount of money to fund Woodrow Wilson's presidential run in 1912. When the bill establishing the Fed reached Wilson's desk in 1913, he knew he had to sign it to repay the favor.

[@custodianfile]

Yes, but where does the central bank get its cash ?

[@golf869]

After 1971 it gets it from creating money out of thin air and exchanging this “new money” for government bonds etc. which the government uses to pay for its deficit spending. although it has become more complicated over the last few years. Most people don’t really notice this process and assume prices naturally go up forever.

[@abelliguez2023]

Monopoly making machine thst prints out fiat fake money worth no value. Counterfeit making in variois states.

[@user-bs6de7mj6x]

You left out the part about the people who opposed the reserve all being killed on the Titanic...

[@gypsy5592]

Cute and I never thought I'd say that about this when i turned it on "Fun In Banking" lol

[@thebigred4]

END THE FED

[@KingTurdle]

Aldrich was also Rockefeller’s father-in-law

[@adamwalker2377]

There'd be no panic, if banks didn't lend out more money than they had on hand.

[@jamesduclos2545]

EXACTLY!

[@haloforgeguy453]

This is literally how finance works - brining future money to today is how we companies build things. No Fractional reserve banking means no innovation just communism

[@adamwalker2377]

@@haloforgeguy453 not being able to conjure new money into existence means communism? Explain.

[@haloforgeguy453]

@@adamwalker2377 banking is what makes capitalism work - if you can’t invest you can’t grow - no banks to lend you money and your fucked

[@adamwalker2377]

@@haloforgeguy453 who said anything about not lending money?

[@aaronfield7899]

The federal reserve used to be completely reliable until the gold standard ended

[@Bloodsaber64]

If I recall correctly, according to the book "the creature from jekyll island" JP Morgan actually CAUSED the panic of 1907 by calling in several large debts, to generate desire for a problem to the solution, which would be the federal reserve. Central banking is a convoluted and complicated institution of slavery, which American founders fought so hard to prevent. Benjamin Franklin knew the solution; colonial scrip. You probably know it as individual issued checks, or gift cards. Colonial scrip takes the power of money out of the bankers hands and puts it back into the individual where it belongs. A digital version of colonial scrip would solve the worlds problems.

[@zyubat]

OR IN OTHER WORDS: THE BIRTH OF THE DEVIL

[@chitoo6171]

Fed money have fail money and bank

[@Kiley-xn5du]

I need some central money of my own for fun ❤

[@alenagoddess2400]

It makes for a good story unfortunately if you believe that I have an island to sell you for $100. The creature from Jekyll Island more accurately describes what happened in 1913 moreover, if you look at how many Americans moved to Canada around that time It shows just how bad things were.

[@YungDelirious]

So did this actually happen or is it a joke? I can’t tell 😂

[@PashutHerenstein]

The jazz music 3:35 we gotta do something abt these panics, reminds me of the white wall video in bojack horsemen.

[@oneanonymous214]

Interesting

[@purplej12]

thanks?

[@Biznatchio69]

Is it pronounced Jekyll or Jeekyll?

[@NPD429]

Blah blah blah... was this video funded by Chase and Citi?? Sounds like horseshit to me.

[@tesspeelz]

The Aldrich plan

[@alondrabermea1820]

yall whats the argument in the video :(

[@garriepeck-rv7tz]

Titanic strange time lot of powerful men went down with her

[@jonathanfriedman6610]

“Save the economy” 😂

[@PashutHerenstein]

Federal reserve ACT?! 5:19 u gotta b kiddin me

[@CineFan911]

I guess we can tell who’s a proud supporter of NPR.

[@Dreamon1244]

Is that all? 😂

[@MG-dg5gs]

Now can thank the bankers - central banks 10/10’worked out 😊😊😊😊😊😊😊😅

[@SupremeLoach]

I like how people are complaining about the historical inaccuracy of casting black people / women as prominent bankers of the era, and nobody’s mentioned the plastic, battery operated clock in the opening scene.

[@pedropfaff8906]

The less said the better about this video.

[@michaelglendinning1738]

Money that is real can be not real, and money that is not real can be real. That pisses me off!!!!

[@YYZ88YYZ]

This needs to change

[@nurscathwill]

Well they can't borrow money now!

[@felixfelexis9848]

loved this silly video

[@forgottenmorethanyoulleverknow]

The creature from Jekyll island......

[@sketchthis2135]

who owns the federal reserve?

[@SaBastian_DeKrabbe]

Wow, that was a whole lot of misinformation. Thanks for leaving everything out

[@curlybrownk9]

Who owns this central bank??????

[@mollykeane2571]

The Rothchilds probably. And if not them then some other banking dynasty.

[@Latest88]

@@mollykeane2571 THE ROCKEFELLERS, THE ROTHSCHILD many more...why they are doing it.. answer it they want to create a world government

[@gofiodetrigo8756]

why u missed the federal reserve act was passed in Christmas eve :? :/

[@PashutHerenstein]

Earthquake was geo engineered

[@firstgenchevelleman]

Ahhh fractional reserve banking.

[@PashutHerenstein]

1913, Woodrow Wilson signs fed reserve act. Ya but where was he before? And how have y’all not mentioned the titanic?!?! And Astor and guigenheim who were against it!!!!!

[@nurscathwill]

Yeah right! A black banker and women?

[@dlit]

Don't worry. Rich bankers aren't in it for the money. They're in it to help you and me.

[@albu1168]

The US finished situation is a house of cards

[@crazycasy]

so why are we protesting trump rallies instead of the federal reserve?

[@herbmaaster]

^^^^^^^^^ ^^^^^^^^^ ^^^^^^^^^ ^^^^^^^^^

[@bombrman1994]

the fed step in and loan them some out of their balance that has infinity amount of money which means they are scamming and then that loan is considered a national debt that people have to pay through taxes hahahah great fucking system dude

[@Rickfrederic]

This is great I do content on business every Thursday thank you for showing me this great lesson I’ll give you an update on what my Audience think

[@user-di3st1ei2j]

Props for the self-shill.

[@BingGeaux]

@5:25 - put on the brakes..... did you explain where the FED gets the money it loans out to banks?? no you left that part out! the most crucial part of the plan to centralized money....the FED creates money out of thin air - it's spurious - not real. Was based on gold, but the FED sold the gold or stole the gold. Now, the money is based on debt...the debt to be paid by your grandkids and their grandkids. But that's so far away...so they implement "income tax", and we're enslaved to the banksters of the FED.

[@xanshen9011]

It all started when a man started to rub his hands

[@Mellabellaluna]

Oh right ! Random bankers! Definitely not gold from the Russian Monarchy that would soon cease to exist !

[@Brandon-xp1ob]

Central banking is evil.

[@erikc8284]

Two women and a black guy as bankers in 1907? Totally believable. The video follows very very well the universal rule that states: "The more woke and inclusive a movie is, the worse the script and the story behind will be". This video is a very good example of that law, hence it would be better to directly read the book The Creature of Jekyll Island.

[@grakkerful]

Not bad. Casting decisions are very questionable.

[@Numbzy14]

Just a lil reason why the Dollar bill in 2024 is worth less than the Dollar bill….

[@GPEGEMGTM3]

Inflation is a hidden tax

[@thharrimw]

"Healthy banks"

[@cullendonaldson9303]

*to save the banks we must have inflation. To hell with poor people