4min chapter

The "What is Money?" Show cover image

The Ultimate Macro Framework with Raoul Pal (WiM078)

The "What is Money?" Show

CHAPTER

The Cost of Warfare

British empire was dominant in the world. They had created a huge navy. But then germany's rising as an industrial power, correct? That's threatening the dominance of the british empire. So many people defaulted because of the cost of wara. Another typical thing that destroys currencyis the cost of warfare. It's the most expensive thing governments ever spend on. And why we've got so much debt is the cost of wars that we fought that we could never pay the bills for romanc.

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