End the Fed, by Rep. Ron Paul (R, TX): on War & Peace


Ron Paul: Century of war correlates with century of central banking

Following the creation of the Fed, the government would discover elastic money would prove useful in funding war. It is no coincidence that the century of total war coincided with the century of central banking. When governments had to fund their own wars without a paper money machine to rely upon, they economized on resources. They found diplomatic solutions to prevent war, and after they started a war they ended it as soon as possible.

Now with central banks, governments could just print what they needed, and therefore they were more willing to pull the trigger and pick fights. The diplomats were powerless to stop governments itching to try out their newfound funding machines.

Source: End the Fed, by Rep. Ron Paul, p. 63 Sep 29, 2010

  • The above quotations are from End the Fed, by Rep. Ron Paul.
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