As the clouds of war gathered before the start of the Great War, the ‘War to End Wars’, WWI, the pundits were predicting that any major war could not last more than a few months; the treasuries of the combatants would rapidly run out of money… This was an astute observation; war is by far the most expensive ‘activity’ that humankind can indulge in… Not only is the direct cost

There is an aphorism that states “it’s not getting the right answer but asking the right question” that is crucial. Readers of this site are surely aware of blurbs like ‘real money’, ‘honest money’, ‘Fiat’ money, printed money, borrowed money… ad infinitum. Indeed, Aristotle named the desirable qualities of money; Money must be durable Money must be portable Money must be divisible Money must have intrinsic value What question were