154. Fiat History with Niall Ferguson
The Bitcoin Standard Podcast
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The Scale of War Is Determined by Technology and Political Constraints
It seems as though a fiat situation or an easy money situation enables these conflicts to happen at larger magnitudes than they otherwise would in a hard money environment. Do you agree with that? No, because I think the scale of war is determined by two things really, one, the technology to the political constraints. What's interesting about this war is that it's still quite small by 20th century standards. Invading Ukraine with like 130,000 people, that would just evade Hitler and Stalin laugh. So these are relatively small armies, but with very powerful weapons,. The US pretty much did that in both world wars.
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