Central Bankers: The Alchemists of our Time

The very first form of banking started well over 5,000 years ago, while fractional and fiat money systems began appearing almost 1,000 years ago. The first central bank appeared some 500 years ago. (Central) bankers, the alchemists of our time, have a monopoly on the creation of money, just like the police and army have a monopoly on violence. In the last century, central bankers have succeeded in turning paper into gold36and gold into paper.37The bank notes of the European Central Bank (ECB) no longer refer in any way to any intrinsic value, although the ECB still owns