When Ron Paul first ran for the United States House of Representatives in 1974 a major purpose of his campaign was to educate people regarding monetary policy. To this day, monetary policy remains a focus of Paul’s educational efforts. In a new interview at the Ludwig von Mises Institute’s Mises Weekends, Paul and host Jeff Deist focus on monetary policy, including both Paul’s critiques of current US monetary policy and Paul’s recommendations for a better system centered on sound money.
Perhaps the highlight of an interview with many interesting comments is when Paul discusses the relationship between monetary policy and war. “Most wars are fought on inflated money,” explains Paul. From diluting gold in coins and clipping coins “in the old days” to using a computer to create new US dollars — the reserve currency of the world — today, “financing war through inflation is traditional,” says Paul.
Watch the complete interview here:
Reprinted with permission from the Ron Paul Institute for Peace and Prosperity.