I saw a report today that a company importing bananas has been fined over £7million because it was involved in a price-fixing cartel.

Such cartels are of course illegal, and are rightly punished by anti-trust authorities (in this case, the European Union). However, there is another, long-established cartel which operates quite freely and with the co-operation of the government with which is it partnered: the US Federal Reserve.

A little background on how the Fed came into being, for which I am indebted to G. Edward Griffin (The Creature from Jekyll Island, ISBN 978-0912986456).

The Fed is not, as many believe, a US government agency. It is no more 'Federal' than Federal Express! It came into being in 1910, at a highly-secret meeting between leading bankers at a place called Jekyll Island, Georgia. The banks were concerned because whenever there was a run on a bank, and people wanted their money but could not pay (a consequence of Fractional Reserve banking, a subject which is for another blog), the banks went bust. So several of these banks met up, in total secrecy, and got together and agreed to set up the cartel.

Now as I said before, cartels are illegal. The reason this one is not, is because they actually went into partnership with the US government and had their agreement passed into law by Congress. And so, by 1913, the Federal Reserve Act came into being. It was sold to the people as a way of actually protecting them against the large banks and their grip on the economy - but it was actually created by the same large banks!

So we have the situation whereby it is not the government who controls the money supply of the United States, it is the banks in a cosy cartel. Understand that and it begins to become clear why there is always a 'bailout' or 'stimulus package', whenever one of these banks gets into trouble. The cost is always placed on the taxpayer, i.e. the ordinary person, however.

Of course, whoever controls the supply of money is effectively in charge of the country, no matter who is elected as 'President'.

Back to our banana cartel: it was exposed because one company blew the whistle to the authorities. That's never going to happen with the banking cartel called the Federal Reserve though: it is in partnership with the government, therefore all parties are committed to the system.

Besides, if a fine was imposed, given what we know - who would pay? The taxpayer, of course!

Mr Griffin's book is still available and is recommended reading, but you can hear much of what he says at a speech he gave in 1994. This was several years before the crisis which is now upon us, and it was entirely predictable.

Put simply: There is a conspiracy against your money. It is better to be educated about the financial reality than not, and for more about this please either put in your details in the box to the right (on ronniesoo.com), or click this link:

The Conspiracy Against Your Money

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