Summary of James Rickards's Currency Wars

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#1 It was a secret war game, with real money at stake, to test the efficacy of the financial markets in responding to the next financial crisis. The participants would take on different roles to test how their country would respond to a crisis.

#2 Financial games are being played around the world to test the efficacy of the financial markets in responding to the next financial crisis.

#3 Financial games are being played around the world to test the efficacy of the financial markets in responding to the next financial crisis.

#4 Financial games are being played around the world to test the efficacy of the financial markets in responding to the next financial crisis. Sovereign wealth funds are investment pools established by governments to invest their excess reserves, many with assets in the hundred-billion-dollar range or higher.

• Language: English
• Publisher: IRB Media
• Release date: Sep 9, 2022
• ISBN: 9798350001921

IRB Media

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Insights on James Rickards's Currency Wars

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 4

Insights from Chapter 5

Insights from Chapter 6

Insights from Chapter 7

Insights from Chapter 8

Insights from Chapter 9

Insights from Chapter 10

Insights from Chapter 11

Insights from Chapter 1

#1

The Applied Physics Laboratory, located on four hundred acres of former farmland between Baltimore and Washington, D. C. , is one of the crown jewels of America’s system of top secret, high-tech applied physics and weapons research facilities.

#2

The financial war game was the Pentagon’s first effort to see how a financial war might evolve and to see what lessons might be learned. It was conducted in December 2006 in Omaha, Nebraska, and I was part of the strategy sessions and game design.

#3

I was invited to join a global financial seminar hosted by the Office of the Secretary of Defense in September 2008. The stated purpose of the seminar was to examine the impact of global financial activities on national security issues.

#4

Sovereign wealth funds are investment pools established by governments to invest their excess reserves. They make economic sense in their basic form, but some purchases are vanity projects. During the first part of the depression that began in 2007, sovereign wealth funds were the primary source of bailout money.

#5

I presented on the dark side of SWF investments, how they could be used to exercise malign influence over target companies. I did not assert that such activities were common, but rather that they were possible and the United States needed to develop a stronger watch function.

#6

War games are typically played between two cells, or teams, which are typically designated by the names of countries involved or by colors. The white cell is responsible for deciding if a particular game move is allowed and who wins or loses during each round of the game.

#7

I was the designated Wall Street expert, and I worked side by side with the game designers to fit the world I knew into the categories, timelines, rules, and budgets that they had within their parameters. The game would have three moves played over two days.

#8

I wanted to recruit some investment bankers and hedge fund people to join us. I knew that the usual suspects would provide us with predictable action-response functions. I wanted someone who understood how capital markets function in the trenches. I recruited Steve Halliwell, a seasoned banker and private