Central Banks War Machine Government

Central banks are a fundamental reality of the modern world, but it was not always so. The Bank of England (BoE) was founded in 1694, the first modern central bank. The BoE was born directly from the monetary overreach of the Stuart monarchs. Their military and political ambitions were constrained by the financial power that they could legally wield. The Bank was the end consequence of a series of questionable acts to get their royal hands on the needed money. In that sense, 1600’s England sounds very much like something that bitcoiners and other Fed-watchers would understand.


This essay makes heavy use of “The History of the Bank of England,” by Andreas Andreades, published in 1909, and available online at.1 Andreades is brilliant for clear explanations of financial actions, and their relations to English historical events. A great deal of economic content seems intent on obfuscating concepts which are not inherently complicated. Or avoiding those concepts entirely. See for example the history on the BoE’s website2, which spends at least as much time discussing buildings and architecture as opposed to actual economic history.

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