Pozsar's “war” dispatches, he had stressed four themes:

  1.  War is inflationary.
  2.  War means industry.
  3. War encumbers commodities.
  4. War cuts new financial channels.
  5.  War upsets all four prices of mone

Zoltan suggests reading his “war” dispatches in this order:

  1. War and Peace (this note, which explains how “war upsets all four prices of money”)
  2.  War and Interest Rates (“war is inflationary”)
  3.  War and Industrial Policy (“war means industry”)
  4. War and Commodity Encumbrance (“war encumbers commodities”)
  5. War and Currency Statecraft (“war cuts new financial channels”)

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