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Submitted by cpowell on 08:44AM ET Monday, October 31, 2011. Section: Daily Dispatches
11:43a ET Monday, October 31, 2011
Dear Friend of GATA and Gold:
In commentary published today at GoldMoney, economist and former banker Alasdair Macleod examines fiat money's facilitation of war. Macleod writes: "Any electorate can be patriotically roused for war, so long as it doesn’t have to pay for it. And that is the lie behind monetary inflation. If you print money to finance a war instead of raising taxes, for a time no one notices the cost." Macleod's commentary is headlined "Inflation and German Sensibilities" and you can find it at GoldMoney's Internet site here:
http://www.goldmoney.com/gold-research/alasdair-macleod/inflation-and-ge...
11:43a ET Monday, October 31, 2011
Dear Friend of GATA and Gold:
In commentary published today at GoldMoney, economist and former banker Alasdair Macleod examines fiat money's facilitation of war. Macleod writes: "Any electorate can be patriotically roused for war, so long as it doesn’t have to pay for it. And that is the lie behind monetary inflation. If you print money to finance a war instead of raising taxes, for a time no one notices the cost." Macleod's commentary is headlined "Inflation and German Sensibilities" and you can find it at GoldMoney's Internet site here:
http://www.goldmoney.com/gold-research/alasdair-macleod/inflation-and-ge...
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