Federal Reserve News

I found this article and thought it was quite interesting.

http://www.nationmaster.com/encyclopedia/Panic-of-1907

The closing paragraph reads:

"Some historical accounts have stated that J.P. Morgan himself caused the panic [of 1907]. Some say he spread rumors about other banks going bankrupt which were not true. This created a downward spiral of people running and closing their accounts forcing his rivals to close their doors for good. The motivation for this was to pass the Federal Reserve act which he himself actually wrote, which was passed in 1913 by President W. Wilson."

How to get dictatorial power over a free country:

Start a bank run and stock market crash.

Ride to the rescue and buy up all your competitors' stock at bargain basement prices to sell higher after the recovery.

Petition the government for monopoly legislation creating a central bank with unlimited fiat money powers. 

Inflate the currency and create a series of bust/boom cycles.

At the end of each cycle, buy up stocks at bargain basement prices to sell at handsome profits later.

Petition government for more regulation and legislation to further restrict open competition, making government responsible for losses.

Repeat.