QUESTION: Hello Marty I so miss the WEC conferences. Are you able to touch upon ECONOMIC WAR in historic perspective. In early 2000s I heard that wars will now not be fought with weapons however as a substitute can be faught with economics, are there examples of utilizing economics in historical past that correlate to the current and the decline of the west and rise of the east? There was a e-book titled “all of the monies of the world” by franz Choose and the road I keep in mind from it was “the future of a forex is, and at all times would be the future of a nation” at all times wishing you the perfect and I’m very grateful to have met you in Orlando
ANSWER: There have been frequent makes an attempt to battle wars economically. The Germans had been counterfeiting the British five-pound notes to undermine their economic system. In the course of the American Revolution, the English had been counterfeiting the Continental Foreign money additionally to undermine the economic system. That is commonplace because the invention of paper cash.
In historic instances, the counterfeiting was non-public. There was no technique to make use of counterfeits to undermine an adversary. Within the case of the siege of Athens in 404 BC by Sparta, they merely lower off their provide of silver to undermine their means to fund the struggle.
This time round, transferring to a digital forex opens the door a lot wider to undermining the banking system itself as a tactic to wage struggle.