Currency and Coercion: The Political Economy of International Monetary Power

The author chronicles the use of currency manipulation and foreign exchange attack to bring about a nation's broader political objectives. He describes the use, since the late 1800s, of a State's currency as an instrument of power - often hidden from commentators of the day - to achieve the political goals of that State. His analysis of the currency play behind the UK's attempt to gain control of the Suez Canal against the objectives of the US is particularly interesting. When addressing the nature of political power in today's econonically interdependent world, an insight into the silent role of currency power should not be overlooked.