In this report I look at the early market action from London on Thursday, May 17th, 2018. I look briefly at precious metals, the stock market, the dollar and interest rates. I note that the U.S. 10-year yield continues to move higher as it touched a new four and a half year high of 3.12% today.
The main topic of this report is the nature of central banking and how the institution represents the antithesis of freedom, prosperity and peace. I briefly go over the history of central banking over the last three hundred years and show how it has been an institution that has made massive wars, inflation and misery to spread throughout the world.
I look as far back as 1694 when the Bank of England was founded, all the way forward to 1913 when the Federal Reserve was written into law and finally to 1964 when a CIA led military coup in Brazil led to the creation of the Brazilian Central Bank. I also note that centralised credit or State banking is one of the planks of Karl Marx's Communist Manifesto.
My conclusion is that getting rid of central banking is the most important issue in our time if we want to make a move away from endless ward, ever rising debt levels and economic misery.
10 planks of the Communist Manifesto: http://laissez-fairerepublic.com/tenplanks.html
