Where does money come from? Where does it go? Who

makes it? The money magicians' secrets are unveiled. Here is aclose look at their mirrors and smoke machines, the pulleys,cogs, and wheels that create the grand illusion called money.

A boring subject? Just wait' You'll be hooked in five

minutes. Reads like a detective story - which it really is. But if sall true. This book is about the most blatant scam of history. If sall here: the cause of wars, boom-bust cycles, inflation, depression, prosperity. Your world view will definitely change.

Putting it quite simply: this may be the most importantbook on world affairs you will ever read.

"A superb analysis deserving serious attention by allAmericans. Be prepared for one heck of a journey through timeand mind."

Ron Paul, member of Congress

House Banking Committee

"What every American needs to know about central bank

power. A gripping adventure into the secret world of theinternational banking cartel."

Mark Thornton, Asst. Professor of Economics,

Auburn University; Coordinator Academic Affairs,

Ludwig von Mises Institute

"A magnificent accomplishment - a train-load of heavy history,organized so well and written in such a relaxed and easy stylethat it captivated me. I hated to put it d o w n . "

Dan Smoot

Publisher/Editor, Dan Smoot Report

"As a career banker and president of a bank consulting firm, Ithought I had a good understanding of the Federal Reserve. Butthis book changed the way I view our entire monetary system."

Marilyn MacGruder Barn wall

Grand Junction, Colorado

HOW TO READ

THIS BOOK

Thick books can be intimidating. We tend to put

off reading them until we have a suitably large

block of time—which is to say, often they are

never read. That is the reason a preview has been

placed at the beginning and a summary at the end

of each chapter. All of these together can be read

in about one hour. Although they will not contain

details nor documentation, they will cover the

major points and will provide an overview of the

complete story. The best way to read this book,

therefore, is to begin with the previews of each

section, followed by the chapter previews and

summaries. Even if the reader is not in a hurry,

this is still an excellent approach. A look at the

map before the journey makes it easier to grapple

with a topic such as this which spans so much

history.

THE CREATURE

FROM

JEKYLL ISLAND

A Second Look at the

Federal Reserve

Third edition

by G. Edward Griffin

American Media

Dedicated to the next generation-especially my own brood: James, Daniel, Ralph, and Kathleen.

May this effort help to build for them a better world.

Seventh printing: May 1998

Sixth printing: September 1997

Fifth printing: August 1996

Fourth printing: September 1995

Third printing: April 1995

Second printing: November 1994

First printing: July 1994

Third edition: May 1998

Second edition: September 1995

First edition: July 1994

© Copyright 1998,1995 and 1994 by G. Edward Griffin

Published by American Media

P.O. Box 4646

Westlake Village, California 91359-1646

Library of Congress Catalog Card Number: 98-71615

ISBN 0-912986-21-2

Manufactured in the United States

TABLE OF CONTENTS

Preface i

Acknowledgments iv

Introduction v

I. WHAT CREATURE IS THIS? 1

What is the Federal Reserve System? The answer may

surprise you. It is not federal and there are no reserves.