The proliferation of permanent funds has accelerated and the financialization of public finance is now inevitable. Like contemporary corporations, states and nations will start using ever more complex financial instruments to provide themselves tactical advantages during peacetime and war. The United States has demonstrated the effectiveness of positive feedback loops provided by low technology permanent funds, like its Social Security Trust, which uses the guaranteed consumption of U.S, Treasuries to support its deficit financing and war production.

Innovations in financial technologies can be applied to public finance to make cities and states more capable at deterring war and winning war once initiative. During peacetime, a state can apply an internal consumption tax on defense expenditures based on service lives and average rates of return. A government pays a tax at the inflation adjusted value of the good pre-determined by the average rate of returns and expected service life. If war can be avoided, the procurement system will produce a replacement cost for the capital ship or weapon system with a tax paid 30 or 40 years earlier.

Other permanent fund technologies include using future funded contributions in a series to reduce the projected costs of future weapon systems while creating a battery of savings which can be activated during emergencies for liquidation and deployment. Nations that adapt to the rapid proliferation of permanent fund technologies like collateralized incomes, future funds, and targeted deficit financing will prove themselves to be more viable during emergencies and conflicts.

The United States averaged spending $107 bn a year across the first few years of the Iraq War of 2003, which is not an insubstantial amount of deficit financing with debt accumulations lasting at least thirty years until the original debt is devalued by a target inflation of 2% with modest GDP growth. The US is late, with Russia, China, and other nations already employing fully capitalized Sovereign Wealth funds. China can spend nearly triple the amount with no fears of long-term debt accumulation if the $3-4 tn in Sovereign Wealth Fund assets are diverted to subsidizing military campaigns.

One of the more strategic uses of future funded procurements budgets is their application for satisfying defense spending requirements, such as those recently enforced by the United States on NATO members. The last few years have demonstrated how an arbitrary application of sending thresholds can be used for belligerence, but it invites bargaining and negotiations on qualify spending targets and methods. Future funds thrive in a more adversarial environment, proving current year spending benefits and substantial long-term investments to qualify for spending requirements.

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Defence Finance Technologies (Democratic Technologies)

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