Quote:The Long Con by the Federal Reserve Amounting to 3.6 percent of the US
GDP, or $518 billion, each year since 1913
An Explanation about How the Bankers Who Convened at Jekyll Island, Again,
Fooled this Humble Nation: “Inflation” is not an Accident of the Financial System,
It is the Heart of a Con by which We are all Fleeced, Year by Year”
W. Curtiss Priest, Ph.D.
Director, Center for Learning, Knowledge and Social Progress
Editor, CITS Capital & Debt Watch
Emeritus, Principal Research Associate, MIT
Summary:
During my twenty years of studying this country's financial system in publishing the
Capital & Debt Watch Newsletter, I came across something far more invasive and
pernicious than the various pyramiding schemes such as by Bernie Madoff. I discovered
a rather astounding version of the "Long Con." As those know, in a long con, the con
artists, in this case the "old bankers," set up a rouse to bleed the victim. In this con, the
main rouse was to convince everyone that inflation is a fact of life. In fact, inflation, at
about 4% per year, is contrived by the old bankers (contrasted to the new bankers
inventing other means of bleeding money away from folk, such as via derivatives). The
con always involves some kind of "front" and since 1913, the front has been the US
Federal Reserve. Prior to that, the front was the 1st National Bank of the US and the 2nd
National Bank, which Jefferson and Jack