BLAST FROM THE PAST (Chicago Plan)

This is a very informative article to give some history on the Federal Reserve System Inception and a solution to today's BOOMS and coming bust.

By Richard (Rick) Mills

Richard is the owner of Aheadoftheherd.com and invests in the junior resource/bio-tech sectors. His articles have been published on over 400 websites, including:

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Richard (Rick) Mills
Ahead of the Herd

As a general rule, the most successful man in life is the man who has the best information

Should we leave the creation of new money in the hands of bankers or place its creation solely with our government?



On the night of November 22, 1910 a delegation of the nation’s leading financiers, led by Senator Nelson Aldrich, left New Jersey for a very secret ten day meeting on Jekyll Island, Georgia.

Aldrich had previously led the members of the National Monetary Commission on a two year banking tour of Europe. He had yet to write a report regarding the trip, nor had he yet offered any plans for banking reforms.

Accompanying Senator Aldrich to Jekyll Island were:

• Frank Vanderlip, president of the National City Bank of New York, associated with the Rockefellers
• Henry P. Davison, senior partner of J.P. Morgan Company, regarded as Morgan’s personal emissary
• Charles D. Norton, president of the Morgan dominated First National Bank of New York
• Col. Edward House, who would later become President Woodrow Wilson's closest adviser and founder of the Council on Foreign Relations
• Benjamin Strong, a lieutenant of J.P. Morgan
• Paul Warburg, a recent immigrant from Germany who had joined the banking house of Kuhn, Loeb and Company, New York directed the proceedings and wrote the primary features of what would be called the Aldrich Plan.

After the Jekyll Island visit the National Monetary Commission “wrote” the Aldrich Plan which formed the basis for the Federal Reserve system.

Read more @
 http://aheadoftheherd.com/Newsletter/2012/A-Distinction-Between-Money-and-Credit.html
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