Paul was talking to RT's Watching the Hawks program about his new book 'Swords into Plowshares,' which gives insight into a 20th century full of war, killing, and corruption.

"Almost all wars, in a hundred years or so, have been paid for through inflation, that is debasing the currency," he said, adding that this has been going on "for hundreds, if not thousands of years."

According to Paul, the practice always ends badly because "the people realize that the money has been debased, and all that does is push up prices."

Answering a question from RT on how US wars would be fought differently if their funding wasn't based on borrowed money, but dependent only on tax dollars, Paul replied that "it would stop the wars because we couldn't afford them."