(EDITOR'S NOTE: In other words, this is called "returning to the scene of the crime.")
(November 1, 2010) Just days after the Federal Reserve will announce it has launched QE2, the Fed will hold a major conference at Jekyll Island, celebrating the secret meeting held there 100 years ago that resulted in the creation of the Fed.
The island is in the Atlantic off the coast of Georgia.
In November 1910, Senator Nelson W. Aldrich and Assistant Secretary of the Treasury A.P. Andrews, and other top financiers, arrived at the Jekyll Island Club to discuss monetary policy and the banking system. The secret meetings led to the creation of the Federal Reserve.
Forbes magazine founder Bertie Charles Forbes wrote several years later:
"Picture a party of the nation's greatest bankers stealing out of New York on a private railroad car under cover of darkness, stealthily riding hundred of miles South, embarking on a mysterious launch, sneaking onto an island deserted by all but a few servants, living there a full week under such rigid secrecy that the names of not one of them was once mentioned, lest the servants learn the identity and disclose to the world this strangest, most secret expedition in the history of American finance.