War…What is it good for?
“Wars are always expensive. They are also often unpopular, which makes paying for them through tax increases politically dangerous. As a result, they are almost always financed through the ‘secret tax’ of inflation. For a nation that loses a war, or suffers revolution or systemic civil conflict, there is always the chance that its currency could become worthless. While this may not be the kind of inflation that we read about in the business section, it is the ultimate form of the monetary malady – whereby a currency loses all of its purchasing power.”
The tyranny of war spreads beyond the battlefield. Peter Schiff points out that most wars are financed through inflation i.e. money printing. Citizens tend not to notice this trickery as much as if their taxes were increased. How do you think we are funding Afghanistan and Iraq? Bush didn’t raise taxes, yet authorized billions $$$$. War, we all pay the price.
