Fiat Money Is The Reason Behind Endless Wars
June 2, 2022
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1:46Now PlayingFiat Money Is The Reason Behind Endless Wars
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as posted by the channelWhat’s the link between war and fiat money? Check out the video to learn why!
Welcome back to Bold TV with Ashton Cohen. Be sure to like, comment, and subscribe to Bold TV for all things Bold.
Practically everyone is now opposed to the endless conflicts that have raged for decades. But we never discussed the issue that keeps these wars going: fiat money.
What's the link between the two? Well, before the entire globe adopted the fiat currency system, which is money that is not backed by anything, e very nation was held to a gold standard.
You can't spend and print endless quantities of money under a gold standard. The only method for a king or a government to pay for war was to tax the people or persuade them to buy war bonds.
Even if you were able to raise the finances, you couldn't continue a long-drawn-out war if it was unpopular with the citizens since you'd run out of money without their help. The war would be over.
But that changed when governments adopted a fiat money system, which permits them to produce money without restriction.
As a result of the fiat system, politicians have always been immune to the physical repercussions of war, such as going to fight, and now became immune to the economic implications of war as well.
In 1971, we abandoned the gold standard in the United States, largely to cover the costs of the Vietnam War.
Since then, US wars, such as those in Afghanistan and Iraq, have been allowed to continue for years without popular support because to the ability to fund them by printing money and borrowing trillions for future generations.
So, if we want a more peaceful, better society, perhaps we should begin by following the money.
Which do you think is better? Let us know in the comments below.
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