Financial Warfare Is Real
In my 2011 book,
Currency Wars, I gave a detailed description of the first-ever financial war game sponsored by the Department of Defense. This financial war game took place in 2009 at the top-secret Applied Physics Laboratory located about twenty miles north of Washington, D.C., in the Maryland countryside.
Unlike typical war games, the “rules of engagement” for this financial exercise did not permit the use of any kinetic weapons such as bombs, missiles or drones. The only weapons allowed were financial instruments including stocks, bonds, currencies, commodities and derivatives.
The game was played out over two days in the main War Room of the laboratory using six teams divided into the U.S., China, Russia, Europe, East Asia, and Banks & Hedge Funds. The contestants included about 40 players on the six teams and another 60 participants including: uniformed military, civilian defense officials, observers from the Treasury, Federal Reserve, CIA and
a pretty wild ride there we saw a lot of almost 800 points on monday then a recovery by a good 300 points yesterday and at some point today the market again lost about 600 points but the investors and traders here are not ready to throw in the towel yet and actually today we recovered from almost all the steep losses that result earlier in trading but there would no doubt it s quite shaky and these are big losses that we ve seen this week are they all talk to president trump s trade war. well i mean the trade wars or even possible currency wars what some people are talking about are definitely not helpful but also not the only reason why we see this high uncertainty we hear so many stories basically for weeks now around the globe of weaker economic growth that are not all tied to the trade policies of u.s. president donald trump so it doesn t help but it s not the only reason and goal of
were in currency wars. this is not that. we re going to see how this plays out. thank you. still ahead, a major powerplay by republicans in michigan and wisconsin. after losing the midterms, they re trying to limit the power of incoming democrats. can anything be done to stop what s called a smash and grab? we re live in michigan next. another live look from texas. crowds are bidding fair werewel george h.w. bush. you re watching msnbc. i would like to take a moment to address my fellow veterans.
g-20 world wide cooperation and coordination rather than currency wars, things of that sort. dana: let me get your take on this. i m waiting to see what president trump says. very important. you don t just get a deal and walk away. you have to get through congress. listen to what he said. many of the democrats, including chuck shumer, came out and said nice things. that s very nice to hear that. so it s nice to see a little bit of a bipartisan approach. but the trade deal, the big trade deal, the largest deal ever made so far in trade. i expect to top it with china or e.u. dana: what do you think about the policy? got it done by the deadline. now it will go to congress. i m pretty optimistic about it. there are things for republicans and democrats to like. for democrats, higher labor, environmental standards. for republican, obviously, concessions from the canadians on dairy, ability to do more
once we see the final part of the interview, maybe piers said are you sorry. time will tell, nic. at davos, the u.s. dollar rebounding after president trump told investors not to worry. the dollar is going to get stronger and stronger. ultimately i want to see a strong dollar. so the dollar jumped 1% after that interview a day after the treasury secretary steve mnuchin s words said a weaker dollar was good for trade. mnuchin said his comments were taken out of context. it breaks 25 years of american policy and earned a tongue-lashing from the head of the european central bank not to start currency wars. president trump defending america first in his speech in three hours. raising alarms about protectionism. not so says gary cohn.