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Yes, the fed issues currency by fiat, but the actual resources consumed by this war probably account for the monetary price tag. Additionally, the money spent
by failrate 5y ago
Yes, the fed issues currency by fiat, but the actual resources consumed by this war probably account for the monetary price tag. Additionally, the money spent did not vanish in a puff of smoke at the end of a gun: it lined the war chests of the military industrial complex. This gives these people and organizations outsized influence to manipulate our government into staying in wars in order to justify buying expensive munitions. This destructive feedback loop is the true cost of war.
- arodgers_la 5y agoWhich people and which organizations, exactly?
- tcoff91 5y agoI'm assuming he's referring to companies like Lockheed Martin, Raytheon, etc...
- conradev 5y agoThe usual suspects – Lockheed Martin, Boeing, Raytheon, Northrop Grumman, etc. https://en.wikipedia.org/wiki/Top_100_Contractors_of_the_U.S._federal_government https://en.wikipedia.org/wiki/Top_100_Contractors_of_the_U.S...
- 3009629147 5y agoPlease note: most (±95%) of the U.S. money supply is not created by the Federal Reserve, but by the U.S. commercial banks as deposits when they make loans. [1] Alternatively you can read the Bank of England report on Money creation. [2] It's about the British economy but goes into further detail and the monetary principles are the same in every modern country. [1] https://www.kreditordnung.info/docs/S_and_P__Repeat_After_Me_8_14_13.pdf https://www.kreditordnung.info/docs/S_and_P__Repeat_After_Me... [2] https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/m...
- mercy_dude 5y ago> This gives these people and organizations outsized influence to manipulate our government into staying in wars in order to justify buying expensive munitions. This destructive feedback loop is the true cost of war. Oh and you forgot the revolving door that exists between the military industrial complex and DC power Center. And how they influence the policy decisions. Our current defence secy for example is a former Rayethonian exec.
- lp0_on_fire 5y agoCan't forget former high-ranking members of the intelligence community suddenly having a keen interest in journalism. As paid commenters or otherwise. https://www.politico.com/magazine/story/2018/02/06/john-brennan-james-claper-michael-hayden-former-cia-media-216943/ https://www.politico.com/magazine/story/2018/02/06/john-bren...
- academia_hack 5y agoA less cynical view is that it keeps the military industrial complex healthy and robust in case an urgent need (e.g. WWII) arises. I'd much prefer to just hand cash to Raytheon for that and not have them shoot anyone though....
- shadilay 5y agoThe kind of weapons we need to be developing to fight a near peer adversary are entirely different from the types used to fight small scale wars. You can see this in the new talking points around near peer fight.
- Abishek_Muthian 5y agoHow do we know that MIC would draw the line when it comes to the national interest, It's not too long that the USSR and USA came close to destroying themselves and the world; What if the WWIII itself is triggered for MIC's interests?
- anm89 5y ago>the actual resources consumed by this war probably account for the monetary price tag Its bordering on comical the degree to which people will mock this idea while failing to understand it.