The argument is about a countries capacity to export violence on a sustained basis. A debt based monetary system facilitates this far more effectively than a monetary system grounded by a hard money. It's an entirely rational position to take - whether it plays out that way I guess time will tell.
Discussion
And ignores the other side of the incentive structure.... If you can't print to buy, you might have to take by force.
There is no magic bullet to fix wars.