Currency Wars: The Making of the Next Global Crisis

James Rickards suggests that we are, and that today's currency war could be as devastating to national security as any kinetic war. In part 1 Rickards discusses Pentagonsponsored "war" gaming in 2009, using rules of engagement (ROE) in which the only "weapons" allowed were currencies, stocks, bonds, and derivatives. Because the specific ROE were unrealistic, however, the results were inconclusive, although useful for future simulations.