As people worry a new world war may rise out of Ukraine, RPI Advisory Board Member Lew Rockwell proposes Wednesday on the Tom Woods Show that the creation of central banks makes world wars possible. Rockwell’s comments regarding central banking are made in a wide-ranging interview that begins with a discussion of Rockwell’s book Against the State, which will be published in June.

Looking back to Rome, Rockwell notes that successive reductions in the silver content of coins helped fund government activities. Rockwell then explains that limits of this old method of money debasement were overcome in Britain in the 17th century with the creation of the Bank of England “specifically … to wage war.”

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