In this report I cover the early market action from London on Thursday, May 3rd, 2018. I look briefly at the precious metals, the stock market, the dollar and interest rates. I also go over the Fed's FOMC decision and statement on the economy from yesterday and how it has impacted the markets.
I also do a book review of Frederic Bastiat's The Law. The Law is one of the classic books on freedom, economics and liberty. Bastiat notes that the law has been hijacked by the political class in order to control society and install a system where the tyranny of the majority rules over the individual.
The Law was written in 19th century France but I note that all the things Bastiat spoke about then apply to our present day democratic system where the law is used to enslave the individual and redistribute wealth by force. Bastiat notes that the Law is supposed to protect life, liberty and property and not attack these God given or natural rights.
