November 6, 2024 • 17 mins
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On the podcast today, I share my insights from the book "The Creature from Jekyll Island" by G. Edward Griffin. The author sheds light on the controversial creation and role of the Federal Reserve in our economy. By understanding the concept of fiat money and the Federal Reserve's significant influence, you'll have a better understanding of the banking system.
In this episode we discuss:
- The Federal Reserve
- Fiat money
- Fractional Reserve Banking System
- Inverted Yield Curve
Resources mentioned in the episode:
- Want to attend my weekly workshops? You can get on my community newsletter by going to my website here (https://generatealifewelllived.com)
- The Creature of Jekyll Island by G. Edward Griffin
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From my soul to yours,
Erin
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Erin Gray (00:00):
You're listening to generate a life Well-lived
podcast.
I'm your friend and confidant,erin gray.
On this podcast, we willexplore all things money,
business and self-development,including human design.
I hope you enjoy the journeywhere I share everything that I
know and am continuing to learna long way as I honor my heart's
desires while inspiring andencouraging you to do the same.
(00:20):
Hi, how are you?
So?
On today's podcast, I am goingto talk about a book called the
Creature of, or Creature from,jekyll Island, and I had this
epiphany a couple months agothrough women that I've
supported, people that I'vetalked to, just about their
(00:44):
relationship with money andrecognizing that if we feel
shame, guilt, inadequate, just alot of those lower vibration
feelings with money, it doesn'tleave us in a space to feel
curious about money.
And if we aren't curious aboutmoney, then we don't typically
(01:05):
learn about money, which keepsus kind of in that cycle of not
knowing about money.
Understanding money andobviously one of my passions is
empowering people, womenspecifically.
I have coached and do coach menbut women, helping them
(01:26):
understand what I always havesaid like the 3D of money
understanding how money works,how your taxes, how your books
work, understanding how to readthe numbers along with the
emotional aspect, and I think alot of times we think it has to
be one or the other, but itreally is both.
(01:48):
And so when we feel, I want youto ask yourself, how do you
feel on a consistent basis withmoney?
And is that a place for youwhere you are able to be curious
about how the banking and thefinancial system works?
And this isn't a place, youknow.
(02:08):
Sometimes when I ask questions Ican just see the shame come
over clients, and that's not thegoal.
It's not to feel shame, it'sjust to recognize where we are.
And I really think the bankingand the financial system I never
want to say anyone ever doesanything to us, because that
feels very disempowering.
(02:29):
But I do think there are powersthat be that you know my mentor
calls them dark forces, thatthey they really thrive or
really hope that most of usdon't understand how these
systems work, because then wewon't question it, then we won't
(02:50):
say, hey, things need to bedifferent.
So that was the aha that I had,which obviously makes me want
to spread the word and talkabout money more and really help
as many people as I can changetheir relationship with money,
because when we feel good aboutmoney, when we generate it in
(03:13):
ways that feel so good to oursoul, when we spend it in ways
that nourish our soul, when wegive it and have it and
circulate it in ways that areempowering, that feel good to us
, then we get to do more of thatand more people get to see that
and more people can alsounderstand and recognize they
(03:37):
can have that as well.
So I would advise you, go out,read the book of Creature from
Jekyll Island.
You can either get it on Amazonor you can get it at the
library.
It's also on audiobook andbasically the book is about the
(03:58):
Federal Reserve and its role inthe economy and the in the
economy and the, basically theimplications of, like, why does
it even exist?
And so I'm going to give youthe cliff note version.
I'm going to type in also,obviously, and say some of my
comments to kind of the cliffnotes of this, but my goal is
(04:18):
always for to empower eachperson that comes across my path
, overall, obviously, and alsowith money.
So the premise is that severalmen I think there was seven or
eight of them bankers, mainlypoliticians.
We're talking like theRockefellers, the Rothschilds,
the JP Morgan like bankers backin the 1910s and I think there
(04:48):
was maybe one or two politiciansthey got together on a secret
island called Jekyll Island toform a plan to create a central
banking system in the UnitedStates.
Because here we go back to darkforces, and when people are
coming from a place of fear andgreed and believing that you
know scarcity, that there isn'tenough, then they think that the
more that other people get,then they don't get, which is
(05:10):
complete and utter bullshit.
But that's what lower vibrationbeings that do not have our
best interests at heart act anddo so.
They got together and they feltlike that.
A lot of banks were in directcompetition to their banks, so
they wanted to maintain control,and so they got together and
(05:32):
formed a plan to create what wecall now the Federal Reserve.
And one of the key things thatthe author the author is G
Edward Griffin, one of thethings that what Mr Griffin says
in the book is that the FederalReserve operates like a cartel,
(05:54):
and I was thinking about thisthe other day.
I'm like you know the onlydifference between which I mean,
this is my idea, so, but likethe difference between a drug
cartel and then like a lot ofthe cartels that are actually
happening in our, at least inthe Western society.
Between you know the financial,the banking system, the
political system, the medicalsystem, the media, the
(06:16):
entertainment industry.
The only difference betweendrug cartels and all of these
other ones is is the drugcartels like own it.
They're not trying to hide whatthey're doing, and in these
specific cartels they do.
The thought process is thatthey created the Federal Reserve
to serve the interests of thebanking elite versus the general
(06:40):
public.
And one of the things that MrGriffin talks about is how the
Federal Reserve has the abilityto create money out of thin air.
And they do this by justprinting money.
And the only reason they canjust print money is because we
are on a fiat system, or it'scalled fiat money, and fiat
money is just, basically, thereis no um, it's no longer tied to
(07:04):
the gold system.
So because we have been takenoff of the gold system, because
there is no dollar bill nowassociated with the gold right
that's how it used to be theyhave the freedom to just print
money whenever they want to, andthey also do this by the
(07:24):
process of what's called afractional reserve banking,
which I'm sure you know aboutthis.
Basically, whenever you putyour a hundred dollars in the
bank, they don't keep your ahundred dollars in the bank,
right, they farm it out and theyloan it out and that's how they
create it's all fake money.
But they create their money byinterest in loans and what used
(07:47):
to be I mean it's even gottenworse.
What used to be, you know, they, they had to have reserves of
like 10%.
Now I think you could factcheck me, I'm not exactly sure,
but I want to say like it'seither gone away completely or
it's like very minimal, like 1%.
Not that 10% was much better,but you get the point.
So the fractional reservebanking's idea or premise, right
(08:11):
, is they get the banks, get totake your money and then they
lend that money out and createmore money, right, and this is
what leads to inflation and thedevaluation of currency and it
benefits the banking elite atthe expense of you and me, elite
(08:38):
at the expense of you and me.
So this, the book, reallyexplores how the federal reserve
has been pivotal in financingwars and manipulating the
economy.
He even goes on to say as muchas like they part, they were a
big part or even created thegreat depression and, as I
mentioned before, a lot of thesebanking elite.
Right, because I mean,obviously I haven't talked to
them, but when, when someoneacts from this place of greed
(09:01):
and power and you're drivensolely by profit, don't get me
wrong Profit is important in abusiness, but it's not the main
reason why we go into business.
Right, go into business forimpact, for helping others and
obviously making profit part ofit, but not the main reason.
And when we feel greed, when wefeel like if someone else has
(09:25):
we can't have, which these guystypically operate from, it comes
from that scarcity mentality,mindset.
And so he talks about how youknow the central banks can
manipulate the interest ratesand control the money supply,
and he dives all into about thebailouts and how you know these
(09:49):
banks and even corporations.
I mean, we saw it in 2008, 2009.
I mean, if you think about it,if a business is not able to be
solvent, then over a period oftime, then it's not a business.
And how much pressure was put onsome of these banks to take
(10:11):
bailout money, even though theywere solvent, even though they
didn't have any issues, becausethese other big banks were
wanting the money, the bailoutmoney.
And if you know, from thepublic's perception, if you gave
bailout money to these certainbanks and you didn't give it to
the other banks, the concern was, hey, the American people are
(10:33):
going to be like what's up?
What's happening?
Why are only some banks gettingbailouts?
And so he even goes into depthand talks about how, during that
time frame, a lot of bailoutswere forced upon banks that were
very solvent, because it didn'twant to raise any red flags.
And what I love that he talksabout also is just, he reveals
(10:55):
the extent to which centralbanks can intervene in the
economy and it really starts toraise questions about their
accountability and transparency.
And don't quote me exactly, Ithink this is either in his book
or I've read it somewhere else.
But basically, when we put moneyin the bank, it's not
necessarily our money.
(11:16):
Yes, it's in our, it's in ourname, but the way that the
banking system has now organizeditself for lack of a better
word is that they're they'reable to take your money and go
and use it to make loans andthings of that sort.
So what does all this have todo with me and you?
You know the more that we areunaware that we are not looking
(11:41):
into these systems andunderstanding how money works,
the more that we could be atrisk for things which are not so
kind and loving to happen to usin regards to, you know, the
banking system, the financialindustry and beyond.
I didn't even get into how thestock market works.
(12:02):
Who actually controls the stockmarket in terms of managing the
funds and things of that sort.
I do want to say that I do thinkover the next six to 12, 18
months, you know we're headedfor some big stuff, but when, in
2008, when the last big crashhappened the yield curve was
(12:27):
inverted and basically what thatmeans is if you invest in a
bond and I'm just making thisvery, very simplistic If you
invest in a bond that is shortterm like, say, it's a year
typically your interest rate isgoing to be a lower interest
(12:49):
rate than if you were to investin a 10 year bond.
Right, because you're not tyingyour money up for 10 years,
you're tying it up for one, andso the reward for one year
versus 10 vastly different.
But the yield curve istypically right.
It goes kind of like a hockeystick the longer term, the
higher the interest.
An inverted yield curve is theopposite.
(13:11):
It means it's higher interestfor short-term bonds and it's
longer term bonds are lowerinterest, and the yield curve
has been inverted since, Ibelieve, 2022.
So I say all that to say thattypically, when the yield curve
is inverted, there is arecession.
The stock market is going tohave a drastic decrease, and it
(13:38):
hasn't yet.
It has continued to go up andup and up, and I just want to
encourage you like, don't takemy word for it, go do your own
research, but look at some ofthe big guys.
I mean Warren Buffett.
He has, over the course of 2024, I think he's gone to, I think
he now has over 200 billion incash, and so what happens is is
(14:02):
you have the media and the newssaying one thing and then you
actually see what the big guysare doing, which is the opposite
, and I just think that themarket is at a place where it's
going to come down.
What we are seeing in the marketisn't reflective of what's
(14:22):
actually going on in the economy.
This is why I'm so passionateabout educating people doing
your research, understanding howthese systems work, so that we
aren't the ones left holding thebag.
You know, in human design theytalk about, there's going to be
a big change by 2027.
And I I truly believe thatwe're seeing it right now and
(14:44):
it's the beginning, and I thinksometimes everything has to come
crashing down, burning down, inorder for us to rebuild the way
that it really is meant to beor has been meant to be all
along.
And I just want to encourageyou to dive into understanding
(15:07):
how the banking and thefinancial industry works.
Changing our relationship withmoney is so important because
the more of us that change ourrelationship with money, the
more that we talk about money,the more we make it an open
access conversation, just likeyou would the weather, and I
think the more of us that I meanyou're listening, so obviously
(15:29):
you care, you want to makechange in the world, want there
to be change in the world, andthe more of us that are
empowered, have sovereignty weall have sovereignty, but we
forget it sometimes the more ofus that are empowered and we
(15:50):
understand how money works andwe have a good relationship with
money, the more I truly believethat we can help ourselves,
help others and also change theway that some of these systems
have been set up.
So if you've got questions, youknow where to find me.
You can message me through theshow notes.
(16:13):
You can send me an email atsupport at generate a life well
livedcom.
I'm here for you.
I want to support you to changeyour relationship with money,
to become more empowered, sothat we can truly make an impact
in the world.
Thank you, as always, forlistening, for tuning in every
week.
(16:33):
Several of you reached outregarding episode 69 with Kylie
Weathers about her leaving theMormon church, understanding
attachment styles, and said itreally impacted you guys and I
just appreciate you listeningand tuning in every week and
(16:56):
also sending so much love andfeedback.
So until next time,
You're listening to generate a life Well-lived
podcast.
I'm your friend and confidant,erin gray.
On this podcast, we willexplore all things money,
business and self-development,including human design.
I hope you enjoy the journeywhere I share everything that I
know and am continuing to learna long way as I honor my heart's
desires while inspiring andencouraging you to do the same.
(00:20):
Hi, how are you?
So?
On today's podcast, I am goingto talk about a book called the
Creature of, or Creature from,jekyll Island, and I had this
epiphany a couple months agothrough women that I've
supported, people that I'vetalked to, just about their
(00:44):
relationship with money andrecognizing that if we feel
shame, guilt, inadequate, just alot of those lower vibration
feelings with money, it doesn'tleave us in a space to feel
curious about money.
And if we aren't curious aboutmoney, then we don't typically
(01:05):
learn about money, which keepsus kind of in that cycle of not
knowing about money.
Understanding money andobviously one of my passions is
empowering people, womenspecifically.
I have coached and do coach menbut women, helping them
(01:26):
understand what I always havesaid like the 3D of money
understanding how money works,how your taxes, how your books
work, understanding how to readthe numbers along with the
emotional aspect, and I think alot of times we think it has to
be one or the other, but itreally is both.
(01:48):
And so when we feel, I want youto ask yourself, how do you
feel on a consistent basis withmoney?
And is that a place for youwhere you are able to be curious
about how the banking and thefinancial system works?
And this isn't a place, youknow.
(02:08):
Sometimes when I ask questions Ican just see the shame come
over clients, and that's not thegoal.
It's not to feel shame, it'sjust to recognize where we are.
And I really think the bankingand the financial system I never
want to say anyone ever doesanything to us, because that
feels very disempowering.
(02:29):
But I do think there are powersthat be that you know my mentor
calls them dark forces, thatthey they really thrive or
really hope that most of usdon't understand how these
systems work, because then wewon't question it, then we won't
(02:50):
say, hey, things need to bedifferent.
So that was the aha that I had,which obviously makes me want
to spread the word and talkabout money more and really help
as many people as I can changetheir relationship with money,
because when we feel good aboutmoney, when we generate it in
(03:13):
ways that feel so good to oursoul, when we spend it in ways
that nourish our soul, when wegive it and have it and
circulate it in ways that areempowering, that feel good to us
, then we get to do more of thatand more people get to see that
and more people can alsounderstand and recognize they
(03:37):
can have that as well.
So I would advise you, go out,read the book of Creature from
Jekyll Island.
You can either get it on Amazonor you can get it at the
library.
It's also on audiobook andbasically the book is about the
(03:58):
Federal Reserve and its role inthe economy and the in the
economy and the, basically theimplications of, like, why does
it even exist?
And so I'm going to give youthe cliff note version.
I'm going to type in also,obviously, and say some of my
comments to kind of the cliffnotes of this, but my goal is
(04:18):
always for to empower eachperson that comes across my path
, overall, obviously, and alsowith money.
So the premise is that severalmen I think there was seven or
eight of them bankers, mainlypoliticians.
We're talking like theRockefellers, the Rothschilds,
the JP Morgan like bankers backin the 1910s and I think there
(04:48):
was maybe one or two politiciansthey got together on a secret
island called Jekyll Island toform a plan to create a central
banking system in the UnitedStates.
Because here we go back to darkforces, and when people are
coming from a place of fear andgreed and believing that you
know scarcity, that there isn'tenough, then they think that the
more that other people get,then they don't get, which is
(05:10):
complete and utter bullshit.
But that's what lower vibrationbeings that do not have our
best interests at heart act anddo so.
They got together and they feltlike that.
A lot of banks were in directcompetition to their banks, so
they wanted to maintain control,and so they got together and
(05:32):
formed a plan to create what wecall now the Federal Reserve.
And one of the key things thatthe author the author is G
Edward Griffin, one of thethings that what Mr Griffin says
in the book is that the FederalReserve operates like a cartel,
(05:54):
and I was thinking about thisthe other day.
I'm like you know the onlydifference between which I mean,
this is my idea, so, but likethe difference between a drug
cartel and then like a lot ofthe cartels that are actually
happening in our, at least inthe Western society.
Between you know the financial,the banking system, the
political system, the medicalsystem, the media, the
(06:16):
entertainment industry.
The only difference betweendrug cartels and all of these
other ones is is the drugcartels like own it.
They're not trying to hide whatthey're doing, and in these
specific cartels they do.
The thought process is thatthey created the Federal Reserve
to serve the interests of thebanking elite versus the general
(06:40):
public.
And one of the things that MrGriffin talks about is how the
Federal Reserve has the abilityto create money out of thin air.
And they do this by justprinting money.
And the only reason they canjust print money is because we
are on a fiat system, or it'scalled fiat money, and fiat
money is just, basically, thereis no um, it's no longer tied to
(07:04):
the gold system.
So because we have been takenoff of the gold system, because
there is no dollar bill nowassociated with the gold right
that's how it used to be theyhave the freedom to just print
money whenever they want to, andthey also do this by the
(07:24):
process of what's called afractional reserve banking,
which I'm sure you know aboutthis.
Basically, whenever you putyour a hundred dollars in the
bank, they don't keep your ahundred dollars in the bank,
right, they farm it out and theyloan it out and that's how they
create it's all fake money.
But they create their money byinterest in loans and what used
(07:47):
to be I mean it's even gottenworse.
What used to be, you know, they, they had to have reserves of
like 10%.
Now I think you could factcheck me, I'm not exactly sure,
but I want to say like it'seither gone away completely or
it's like very minimal, like 1%.
Not that 10% was much better,but you get the point.
So the fractional reservebanking's idea or premise, right
(08:11):
, is they get the banks, get totake your money and then they
lend that money out and createmore money, right, and this is
what leads to inflation and thedevaluation of currency and it
benefits the banking elite atthe expense of you and me, elite
(08:38):
at the expense of you and me.
So this, the book, reallyexplores how the federal reserve
has been pivotal in financingwars and manipulating the
economy.
He even goes on to say as muchas like they part, they were a
big part or even created thegreat depression and, as I
mentioned before, a lot of thesebanking elite.
Right, because I mean,obviously I haven't talked to
them, but when, when someoneacts from this place of greed
(09:01):
and power and you're drivensolely by profit, don't get me
wrong Profit is important in abusiness, but it's not the main
reason why we go into business.
Right, go into business forimpact, for helping others and
obviously making profit part ofit, but not the main reason.
And when we feel greed, when wefeel like if someone else has
(09:25):
we can't have, which these guystypically operate from, it comes
from that scarcity mentality,mindset.
And so he talks about how youknow the central banks can
manipulate the interest ratesand control the money supply,
and he dives all into about thebailouts and how you know these
(09:49):
banks and even corporations.
I mean, we saw it in 2008, 2009.
I mean, if you think about it,if a business is not able to be
solvent, then over a period oftime, then it's not a business.
And how much pressure was put onsome of these banks to take
(10:11):
bailout money, even though theywere solvent, even though they
didn't have any issues, becausethese other big banks were
wanting the money, the bailoutmoney.
And if you know, from thepublic's perception, if you gave
bailout money to these certainbanks and you didn't give it to
the other banks, the concern was, hey, the American people are
(10:33):
going to be like what's up?
What's happening?
Why are only some banks gettingbailouts?
And so he even goes into depthand talks about how, during that
time frame, a lot of bailoutswere forced upon banks that were
very solvent, because it didn'twant to raise any red flags.
And what I love that he talksabout also is just, he reveals
(10:55):
the extent to which centralbanks can intervene in the
economy and it really starts toraise questions about their
accountability and transparency.
And don't quote me exactly, Ithink this is either in his book
or I've read it somewhere else.
But basically, when we put moneyin the bank, it's not
necessarily our money.
(11:16):
Yes, it's in our, it's in ourname, but the way that the
banking system has now organizeditself for lack of a better
word is that they're they'reable to take your money and go
and use it to make loans andthings of that sort.
So what does all this have todo with me and you?
You know the more that we areunaware that we are not looking
(11:41):
into these systems andunderstanding how money works,
the more that we could be atrisk for things which are not so
kind and loving to happen to usin regards to, you know, the
banking system, the financialindustry and beyond.
I didn't even get into how thestock market works.
(12:02):
Who actually controls the stockmarket in terms of managing the
funds and things of that sort.
I do want to say that I do thinkover the next six to 12, 18
months, you know we're headedfor some big stuff, but when, in
2008, when the last big crashhappened the yield curve was
(12:27):
inverted and basically what thatmeans is if you invest in a
bond and I'm just making thisvery, very simplistic If you
invest in a bond that is shortterm like, say, it's a year
typically your interest rate isgoing to be a lower interest
(12:49):
rate than if you were to investin a 10 year bond.
Right, because you're not tyingyour money up for 10 years,
you're tying it up for one, andso the reward for one year
versus 10 vastly different.
But the yield curve istypically right.
It goes kind of like a hockeystick the longer term, the
higher the interest.
An inverted yield curve is theopposite.
(13:11):
It means it's higher interestfor short-term bonds and it's
longer term bonds are lowerinterest, and the yield curve
has been inverted since, Ibelieve, 2022.
So I say all that to say thattypically, when the yield curve
is inverted, there is arecession.
The stock market is going tohave a drastic decrease, and it
(13:38):
hasn't yet.
It has continued to go up andup and up, and I just want to
encourage you like, don't takemy word for it, go do your own
research, but look at some ofthe big guys.
I mean Warren Buffett.
He has, over the course of 2024, I think he's gone to, I think
he now has over 200 billion incash, and so what happens is is
(14:02):
you have the media and the newssaying one thing and then you
actually see what the big guysare doing, which is the opposite
, and I just think that themarket is at a place where it's
going to come down.
What we are seeing in the marketisn't reflective of what's
(14:22):
actually going on in the economy.
This is why I'm so passionateabout educating people doing
your research, understanding howthese systems work, so that we
aren't the ones left holding thebag.
You know, in human design theytalk about, there's going to be
a big change by 2027.
And I I truly believe thatwe're seeing it right now and
(14:44):
it's the beginning, and I thinksometimes everything has to come
crashing down, burning down, inorder for us to rebuild the way
that it really is meant to beor has been meant to be all
along.
And I just want to encourageyou to dive into understanding
(15:07):
how the banking and thefinancial industry works.
Changing our relationship withmoney is so important because
the more of us that change ourrelationship with money, the
more that we talk about money,the more we make it an open
access conversation, just likeyou would the weather, and I
think the more of us that I meanyou're listening, so obviously
(15:29):
you care, you want to makechange in the world, want there
to be change in the world, andthe more of us that are
empowered, have sovereignty weall have sovereignty, but we
forget it sometimes the more ofus that are empowered and we
(15:50):
understand how money works andwe have a good relationship with
money, the more I truly believethat we can help ourselves,
help others and also change theway that some of these systems
have been set up.
So if you've got questions, youknow where to find me.
You can message me through theshow notes.
(16:13):
You can send me an email atsupport at generate a life well
livedcom.
I'm here for you.
I want to support you to changeyour relationship with money,
to become more empowered, sothat we can truly make an impact
in the world.
Thank you, as always, forlistening, for tuning in every
week.
(16:33):
Several of you reached outregarding episode 69 with Kylie
Weathers about her leaving theMormon church, understanding
attachment styles, and said itreally impacted you guys and I
just appreciate you listeningand tuning in every week and
(16:56):
also sending so much love andfeedback.
So until next time,
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