Achieving Peace in a Warmonger’s World
Peace on earth is a wish that gets extra emphasis this time of year. We’re told to pray for it, wish for it, keep it forever in our minds. So why don’t we have it?
The short answer is money. War is profitable to some. It’s profitable enough that profiteers in private industries influence government, which stays home and orders others to do the fighting. War costs money. Where does the government get it? Visible taxes (income, corporate, and payroll) cover about two-thirds of government revenue. The rest comes from borrowing and inflation.
In the US, the central banking cartel known as the Fed stands ready to fund almost anything the government wants, especially wars. The Fed does this by creating money from nothing and buys government debt instruments, the accounting name for which is “assets.” The destruction of the dollar is the residue from the “asset”-buying sprees of the Fed’s Federal Open Market Committee, an operation which its members and most of the economics profession insist is necessary for a prosperous economy—and to keep the bad guys at bay in obscure places on the planet.
Government can’t supply bombs to proxy warlords using tax money alone. Outlays in the hundreds of billions must be stolen surreptitiously, which is why government created a central bank and a bought-and-paid-for economics profession. No matter the propaganda spewed by its lapdog media, taxpayers will eventually make the connection between war and a cheaper dollar.
History and theory prove we don’t need a committee cranking up the money supply to make the price of money more appealing, that on a free market increases in the money supply come about from the usual profit and loss forces. A miner brings money to the market as a hat maker brings hats, neither one violating anyone’s property rights. But a committee such as the FOMC doesn’t go mining à la the Seven Dwarfs to bring something people want to the market. That’s way too restrictive. Far better to create the money as a child would while playing make believe.
The Fed—as the federally-certified monopoly counterfeiter—performs the child’s magic. In doing so, it steals wealth. Nothing is exchanged
Article from LewRockwell
LewRockwell.com is a libertarian website that publishes articles, essays, and blog posts advocating for minimal government, free markets, and individual liberty. The site was founded by Lew Rockwell, an American libertarian political commentator, activist, and former congressional staffer. The website often features content that is critical of mainstream politics, state intervention, and foreign policy, among other topics. It is a platform frequently used to disseminate Austrian economics, a school of economic thought that is popular among some libertarians.
