Friday, February 8, 2019

Thorsten Polleit — Why Marx Loved Central Banks

In his “Manifesto of the Communist Party” (1848), published together with Frederick Engels, Karl Marx calls for “measures” — by which he means “despotic inroads on the rights of property” –, which would be “unavoidable as a means of entirely revolutionising the mode of production,” that is, bringing about socialism-communism. Marx’s measure number five reads: “Centralisation of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.” This is a rather perspicacious postulation, especially as at the time when Marx formulated it, precious metals — gold and silver in particular — served as money....
Marx an early MMT'er?

Mises Daily
Why Marx Loved Central Banks
Thorsten Polleit

See also

This quote would precede Marx and explain his reasoning, if it is authentic and Marx knew of it. There is no contemporary evidence for a Rothschild saying this, or of Marx being influenced it.

Did Nathan Rothschild really say: "Give me control of a nation's money and I care not who makes its laws."?

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