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sracemenr of Vietnam's role in rhe
presenr monerary rurmoil. But if rhe
Vietnam War had not escalared in
1965, rhere would have been no
serious increase in rhe nacional debe
after chat date. The debr was necessary
only ro finance che undeclared war.
The U. S. Congress had nor allocaced
budger money for che war, so rhe
blood money had ro be rcd-ink spend–
ing.
This ' 'crearion" of moncy our of
rhin air by rhc Federal Reserve Sysrem
insrigared an illusory "boom" econ–
omy, but ir also causcd a siege of
inflacion. Serious chron ic inflarion
began as early as 1966 in rhe Unired
Srares, as consumcrs saw rhe yearly
price increase crcep from rwo percenc
(1966), ro chree pcrccnr (1967), ro
four percenr {1968). ro five per–
cenc ( 1969), and finally ro a six
percenr yearly inRarionary rare by
1970.
Therefore, wirhout Vietnam (and
irs war-budger-caused inflarion), rhere
wouJd have been no need for rhc
recent wage and price conrrols
(dubbed Phasc I and Phase Il) asan
arrempr ro curb rhe effeccs of inAa–
rion.
The samc
war-cau~ed
inflarion
forced American goods and dollars ro
be overpriced in forcign markers,
hence che dollar devaluarion and
rrade deficics in 1971 and 1972.
" Hidden " Blood
Money
The many hidden coses of war are
che
intenza/ bleedings
of a narion's
blood-money budger.
Since che escalacion of che Vietnam
War. interese on che nacional debr has
escalared as well - ro abour $22 bil–
lion per year. Annually, chis amounrs
ro over $100 in extra raxes for every
man, woman and child in che Uniccd
Srares - just for rhe usury on che
nacional debt! Mosr of chis sraggcring
amount is duc ro residual debes from
1
World War II , but Viernam's sharc
has grown ro abour $5 billion, or onc
fourrh of rhe interese load financed by
raxpayers.
A greater long-cerm financia! bu r–
den of war is represenced by che mil–
lions of rerurning Viernam vcrcrans
who will bcnefit from an esrimared
$200 billion in various vererans' ben–
efirs in years ro come (rhar's more
rhan che toral cose of waging the
war). Sorne of rhese extended bcnefirs
will continue unül che third and
fourch generarion. For cxamplc, rhc
last American Civil War vcreran
recently died (under governmenr-paid
care)
lOO
years afrer che war's lasr
shor. In addicion, rhousands of Span–
ish-American War and World War I
vererans are srill recciving long-rcrm
benefits.
Anorher factor in hidden war
expense is rhe rapidly inflaring cose of
armaments. A fronr-line fighrer, car–
rier. rifle, t<lnk, or cruiser coses - on
rhe average - more chan forry times
whac rhe equivalent irem cose in
W orld W ar II. lncreased technology
of warfare aJso inflares rhe cose of
enemy dearhs far beyond the normal
inAationary increase.
Thesc are among che many hidden
coses incurred by a nation which
chooses - or seems
forced
ro choose
- che agony of war over the profirs
of peace. A nation muse pay dearly for
rrusring in irs own srrength for pro-
tecrion.
Unril nations remove rhemselves
from organized killing and find berrer
ways ro .solve their differences, rhe
wasrage of human and monerary
resources will conrinuc ro exacerbare
chose nations' social and financia! ills.
The late President Dwigbt D. Eis–
cnhower eloquendy expressed these
costs in a lirde-publicized speech
sorne 20 years ago.
Ike's "Cross of lron" Speech
Perhaps you remember a ' ·cross of
gold" speech from your high school
AERIAL ARTILLERY ON DISPLAY
ot
the recent Honover Trode Foir in Ger–
mony. The rising cost of high-tech–
nology worfore roises the cost of killing
one
enemy to oround $200,000.
Hennig -
Plain Truth