Hard Money And The Costs Of War

Can hard money constrain governments' ability to finance unpopular wars? In this inaugural episode, we explore a provocative thesis: that money which can't be printed at will—whether gold or Bitcoin—creates democratic accountability by forcing governments to fund wars through direct taxation rather than hidden inflation. We examine the $2.3 trillion cost of the Afghanistan war, current defense spending proposals, and the historical relationship between monetary systems and warfare. From World War I's suspension of the gold standard to Nixon closing the gold window during Vietnam, we trace how the ability to expand money supply has...