Though still a week shy of its centennial anniversary, the US Federal Reserve will hold a celebration this afternoon in Washington DC.
Just imagine the scene - a bunch of current and former central bankers slapping each other on the back, congratulating one another for a job well done over the last 100 years.
Of course, you and I know this is total nonsense… as is the concept of our modern monetary system in which we award total control of the money supply to a tiny central banking elite.
Human beings are fallible. We are not gods. Yet we practically deify central bankers and entrust them with the power to manipulate markets, control prices around the world, and effectively dominate the economy.
This system has proven to be foolish and destructive.
While the Fed engages in its self-aggrandizement this afternoon, there is another far more important anniversary today - the Boston Tea Party.
It was this day in 1773 that dozens of men dumped 342 chests of tea from 3 ships into the water. But what a lot of people don’t realize is that it started with bankers.