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Tuesday, May 12, 2009

War made easy!

[H]ow does [Matthew] Yglesias suppose the Iraq War – which he deeply opposed, I'm sure – was financed? In considerable part by the Fed's creation of new money out of thin air.

Let me put this as simply as possible. Is the federal government more or less likely to go to war, and are its wars likely to be more or less costly and destructive, if it has access to a money creation machine? Why is the Left, which prides itself on its intellectual independence and its willingness to question old taboos, so intellectually moribund that an obvious question like this is never even raised? I'm supposed to take Yglesias and the rest of the misnamed "progressives" seriously when they propose to grant the government its money-creation machine but hope it doesn't use it in an anti-social or murderous way?

-- from "Question Authority (Unless I Say Not To)" by Thomas E. Woods, Jr. at http://lewrockwell.com/woods/woods113.html

If we want peace, we should work to abolish the Fed.

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