Yeah it's not so much the country that makes money from war it is the banks who are loaning money to the nation in question. Also. some industries make a lot more money during times of war like businesses that make weapons or oil industries and things of that nature. That's why it is a conflict of interest if someone in power also has stock in this kind of industry. Wasn't Dick Cheney like CEO of Haliburton or some shit?
It is common belief that most wars have been financed by bankers and companies who profit from war. They will loan money out to both sides of the war to keep it going or instigate the war. The ending result is nations in debt and some very rich people. Check out these videos. http://www.youtube.com/watch?v=EaHwg7xhueQ