Format: PDF / Kindle (mobi) / ePub
In the throes of the Cold War, the Soviet Union engineers the financial collapse of the West.
The world financial market has become unbalanced. Nations in South America, Africa, and Eastern Europe are trillions of dollars in debt, and a default by any one of them could start a domino effect that would eventually topple the economies of America and Europe. Across the Western hemisphere, economists such as Tom Pike are devising a brilliant plan to head off the collapse. The situation is dire, but with transatlantic cooperation there should be time to stave off disaster.
But something is not as it seems. Before long, Tom realizes that the economic turmoil was deliberately created. The culprits are in Moscow, where a plot is in motion to totally destabilize the Western economy. Now Tom must stop the scheme before the dollar collapses.
specification. I’ve already said that we would require strict controls. Money advanced would be for definite projects and because of the risk that my country would be undertaking, we would insist upon proper, profitable returns. We wouldn’t permit a rouble to be wasted. Further, to make this scheme work, we are offering import credits from the Soviet Union. With your exports high and import commitments low to the West, you could be in balance of payments surplus within a five-year period. Our
Europe, too. All it needs is some itty-bitty bank that no one has ever heard of to declare a default and the money system is going to come tumbling down, like a pack of cards.’ Pike turned back into the room. ‘It shouldn’t have been built like a pack of cards in the first place,’ he said. ‘Don’t I know it!’ said his father. ‘At least I’ve tried to impose some control while I’ve been at the Fund.’ ‘I’ve heard criticism on Wall Street that you’ve been too deflationary,’ said Pike. ‘Purposely,’
‘How are the clams?’ ‘Fine.’ ‘I ordered wine with the beef. Margaux.’ ‘That’ll be good.’ ‘Volger’s a damned fine man: didn’t try to hog the credit for himself on your early assessments.’ ‘Lucky break,’ said Pike. The wine arrived. The older man tasted it, nodded acceptance and said across the table. ‘Luck wasn’t involved. Your name’s Pike.’ Any moment now, thought the younger man. ‘Still like to keep ahead of this Russian change,’ said the IMF director. ‘It’ll become clearer in time,’
this conference being led off on the wildest, most defeatist tangent!’ he said. ‘There is nothing whatsoever to justify the sort of hyperbole and exaggeration we have heard in the last fifteen minutes. The rescheduling requests from Poland and Romania have been agreed and imposed not the slightest difficulty upon the liquidity available to my Fund.’ He nodded towards Ambersom. ‘The World Bank has covered the Argentinian shortage just as easily. The Soviet Union has shown the responsibility for
that over the last few months,’ said the older man. ‘With the centralized system as opposed to our own I can understand it being an aspect easily overlooked. They had no way of knowing, after all, if Western consortia were involved.’ ‘We’re involved in every African country,’ said Volger. ‘We hadn’t anticipated the extent of the Soviet move there,’ said Pike. ‘That took a specific analysis when I was in Switzerland. If we, with our supposedly more advanced banking system and expertise, hadn’t