Mises Wire
Author:
John Gideon Hartnett
Online Publish Date:
The world since 1900 has experienced two major world-encompassing wars. Wars cost a lot of money, and countries—even if they were once on a gold standard—usually start printing massive amounts of money to finance their wars. This fact can be seen in the United States Federal Reserve (Fed) liabilities, for which data is available from the time of