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sneezy67
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>How the Fed Helped Pay for World War I - John Paul Koning - 
From a strictly amateurish point of view....The United States probably would not have entered WW1 without the passage of the (non-govt) Federal Reserve. Some prominent families were against the F.R. proposal and my personal feeling is fate was made on the Titanic maybe as a lesson or warning to others that hesitated. Richard Nixon exited the gold standard during the Vietnamese conflict for somewhat similar reasons .......i.e. wars, conflicts (whether intended or not) cannot be sustained by monetary instruments which are backed by intrinsic value of any agreed type.

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Beginning of the headline :Governments can pay their bills in three ways: taxes, debt, and inflation. The public usually recognizes the first two, for they are difficult to hide. But the third tends to go unnoticed by the public because it involves a slow and subtle reduction in the value of money, a policy usually unarticulated and complex in design. In this article, I will look under the hood of the Federal Reserve during World War I to explain the actual tools and levers used by monetary authorities to reduce the value... Read More
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