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IPFS News Link • Israel - Palestine

Hamas's Victory

• http://www.ronpaulinstitute.org by Ron Paul

The result of Hamas's attack will be to strengthen the most extreme elements on both sides of the conflict.

Given the strong support for Israel among both major political parties it is not surprising that, following the attacks, many politicians rushed to microphones to proclaim their support for US assistance for Israel. President Biden announced the US would send military aid to Israel, while Congress is drafting legislation providing about two billion dollars in "emergency" military assistance to Israel. Even most of the growing number of representatives who oppose military aid to Ukraine will support spending "whatever it takes" to defend Israel. This is why the Biden administration and some in Congress want to combine aid for Israel and Ukraine into one legislative package.

Spending billions more to support military action in the Middle East and Ukraine will benefit the military-industrial complex. However, it will harm most Americans by accelerating the growth of the government's over 33 trillion dollars debt. As the debt increases, the Federal Reserve will push interest rates lower and monetize the debt. This will lead to increased price inflation, combined with economic stagnation and high unemployment — in other words, stagflation.


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