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Message:: [QUOTE="Juan Blanco, post: 1573543, member: 41665"] 'The Creature from Jekyll Island" I suppose.  The National Monetary Commission (1909–1912) submitted a report  to Congress on January 9, 1912, proposing changes to  U.S. banking and currency laws.  Rural and western states feared organs of this Aldrich Plan would be controlled by certain rich and powerful financiers in New York City, referred to as the "Money Trust."  The Pujo Committee was investigating that. [video=youtube;lu_VqX6J93k]http://www.youtube.com/watch?v=lu_VqX6J93k[/video] It should be noted that J.P. Morgan & Co. partner Henry P. Davison attended the Jekyll Island Meeting in 1910, but that doesn't mean JPM approved any details.  In this testimony, he phrases his lending activities in the past tense, so he may have been largely retired from the day-to-day business.  Untermeyer refers to "the outstanding obligations passing as money" which Morgan quickly derides as "YOUR greenbacks."  JPM draws a distinction between Money (Gold) and those Paper Obligations, here.  It's obvious: in Morgan's opinion, Money is NOT Paper and (Greenbacks or credit notes) cannot be!  Paper Bugs have typically miscontrued and/or disinformed on this point.  This text clarifies what JPM said & meant specifically: "Money is gold, and nothing else."[/QUOTE]