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Paper Soldiers
How the Weaponization of the Dollar Changed the World Order
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Narrated by:
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Soneela Nankani
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By:
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Saleha Mohsin
About this listen
"Incisive debut treatise... Mohsin brings to the proceedings a reporter's eye for story"—Publisher's Weekly
From Bloomberg News reporter Saleha Mohsin, the untold story of how one of America’s most invincible institutions—the Treasury—has used the U.S. dollar to define America’s role in the world, and our economic future.
In 1995, Treasury Secretary Robert Rubin re-defined the next thirty years of currency policy with the mantra, “A strong dollar is in America’s interest.” That mantra held, ushering in exceptional prosperity and cheap foreign goods, but the strong dollar policy also played a role in the devastating hollowing out of America’s manufacturing sector. Meanwhile, abroad, the United States increasingly turned to the dollar as a weapon of war. In Paper Soldiers, Saleha Mohsin reveals how the Treasury Department has shaped U.S. policy at home and overseas by wielding the American dollar as a weapon—and what that means in a new age of crisis.
For decades, America has preferred its currency superpower-strong, the basis of a "strong dollar" policy that attracted foreign investors and pleased consumers. Drawing on Mohsin's unparalleled access to current and former Treasury officials like Robert Rubin, Steven Mnuchin, and Janet Yellen, Paper Soldiers traces that policy's intended and unintended consequences, including the rise of populist sentiment and trade war with China—culminating in an unprecedented attack on the dollar’s pristine status during the Trump presidency—and connects the dollar's weaponization from 9/11 to the deployment of crippling financial sanctions against Russia. Ultimately, Mohsin argues that, untethered from many of the economic assumptions of the last generation, the power and influence of the American dollar is now at stake.
With first-hand reporting and fresh analysis that illustrates the vast, often unappreciated power that the Treasury Department wields at home and abroad, Paper Soldiers tells the inside story of how we really got here—and the future not only of the almighty dollar, but the nation’s teetering role as a democratic superpower.
©2024 Saleha Mohsin (P)2024 Penguin AudioListeners also enjoyed...
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Critic reviews
“Paper Soldiers is a deeply reported, authoritative examination of Washington’s hidden power center—the U.S. Treasury—and how the men and women who've overseen it have helped turn the U.S. dollar into a powerful, contentious, and ultimately risky weapon of global influence. A must-read book for anyone looking to go beyond the headlines and truly understand how power works in Washington.”—Joshua Green, #1 NYT bestselling author of Devil's Bargain, and a writer for Bloomberg Businessweek
“With thorough reporting and enlightening, propulsive writing, Saleha Mohsin ushers readers into the gilded rooms and global hotspots where the American dollar has shaped history. A brilliant feat of explanatory journalism."—Toluse Olorunnipa, Pulitzer Prize-winning author of His Name Is George Floyd: One Man’s Life and the Struggle for Racial Justice
“Saleha Mohsin expertly guides us through the last several decades of mistakes and triumphs in our dollar policy with meticulous fly-on-the-wall detail. The result is a vital read for anyone who worries that the best days for the dollar are behind us."—Jesse Eisinger, Pulitzer Prize winner, author of The Chickenshit Club, and a senior editor and reporter at ProPublica
"Essential reading... [Paper Soldiers] brings to life the narrative of how Treasury officials have used the U.S. dollar as a tool of American foreign policy over the last three decades — along with the hazards that has created"— Neil Irwin, author of The Alchemist
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Misleading, heavily biased
- By Cody Peralta on 07-19-19
By: JL Collins
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The Creature from Jekyll Island
- A Second Look at the Federal Reserve
- By: G. Edward Griffin
- Narrated by: Mark Bramhall
- Length: 24 hrs and 21 mins
- Unabridged
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Performance
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Story
This classic expose of the Fed has become one of the best-selling books in its category of all time. Where does money come from? Where does it go? Who makes it? The money magician's secrets are unveiled. Here is a close look at their mirrors and smoke machines, the pulleys, cogs, and wheels that create the grand illusion called money. A boring subject? Just wait. You'll be hooked in five minutes. It reads like a detective story - which it really is, but it's all true.
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Lost confidence in author
- By Amazon Customer on 07-11-20
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Los secretos de la mente millonaria (Narración en Castellano) [Secrets of the Millionaire Mind]
- Domina el juego de la riqueza [Mastering the Inner Game of Wealth]
- By: T. Harv Eker
- Narrated by: Ivan Villanueva
- Length: 2 hrs and 17 mins
- Unabridged
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Overall
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Performance
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Story
El autor estaba en bancarrota, en solo dos años y medio se convirtió en millonario y construyó una de las más grandes firmas de consultoría para el éxito. Con sus enseñanzas ha tocado la vida de millones de personas. Este audiolibro te enseña a observar como piensas. Es un reto a tus ideas que te limitan, a los razonamientos que no te apoyan y a tus acciones con respecto al dinero.
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El libro está bien, pero ES VERSION RESUMIDA
- By alexnvlp on 08-24-23
By: T. Harv Eker
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How to Day Trade for a Living
- A Beginner's Guide to Trading Tools and Tactics, Money Management, Discipline and Trading Psychology
- By: Andrew Aziz
- Narrated by: Kevin Foley
- Length: 6 hrs and 56 mins
- Unabridged
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Overall
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Performance
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Very few careers can offer you the freedom, flexibility, and income that day trading does. As a day trader, you can live and work anywhere in the world. You can decide when to work and when not to work. You only answer to yourself. That is the life of the successful day trader. Many people aspire to it, but very few succeed. In the audiobook, I describe the fundamentals of day trading, explain how day trading is different from other styles of trading and investment, and elaborate on important trading strategies that many traders use every day.
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Its a sales pitch
- By Xavier Foley on 02-08-18
By: Andrew Aziz
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The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime
- By: MJ DeMarco
- Narrated by: MJ DeMarco
- Length: 12 hrs and 46 mins
- Unabridged
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Overall
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Performance
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Story
Since you were old enough to hold a job, you've been hoodwinked to believe that wealth can be created by blindly trusting in the uncontrollable and unpredictable markets: the housing market, the stock market, and the job market. I call this soul-sucking, dream-stealing dogma "The Slowlane" - an impotent financial gamble that dubiously promises wealth in a wheelchair. For those who don't want a lifetime subscription to "settle-for-less", there is an alternative.
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Excellent!
- By Iray007 on 09-22-15
By: MJ DeMarco
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Plan Your Year Like a Millionaire
- By: Rachel Rodgers
- Narrated by: Rachel Rodgers
- Length: 2 hrs
- Original Recording
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Story
Plan Like a Millionaire is part of a riveting three-part series, and it's all about elevating your game and setting goals like a seven-figure earner. In this wealth-inspiring listening journey, Rachel reveals the secrets of how to set goals, manage time wisely, build essential support systems, break free from financial constraints, and make savvy money decisions.
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Feel Good Book, only
- By Maggie on 01-06-24
By: Rachel Rodgers
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The 1-Page Marketing Plan
- Get New Customers, Make More Money, And Stand Out From The Crowd
- By: Allan Dib
- Narrated by: Joel Richards
- Length: 6 hrs and 31 mins
- Unabridged
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Overall
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Performance
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Story
To build a successful business, you need to stop doing random acts of marketing and start following a reliable plan for rapid business growth. Traditionally, creating a marketing plan has been a difficult and time-consuming process, which is why it often doesn’t get done.
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You Need to buy Book to get key info
- By Rosie's mom on 10-23-18
By: Allan Dib
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The Most Important Thing
- Uncommon Sense for The Thoughtful Investor
- By: Howard Marks
- Narrated by: John FitzGibbon
- Length: 7 hrs and 9 mins
- Unabridged
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Overall
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Performance
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Story
Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. The Most Important Thing explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career.
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Five Star Book, two Star Audiobook
- By Johnny on 06-08-15
By: Howard Marks
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Do Epic Shit
- By: Ankur Warikoo
- Narrated by: Ankur Warikoo
- Length: 3 hrs and 17 mins
- Unabridged
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Overall
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Performance
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Story
Ankur Warikoo is an entrepreneur and content creator whose deep, witty, and brutally honest thoughts on success and failure, money and investing, self-awareness and personal relationships have made him one of India’s top personal brands. In his first book, Ankur puts together the key ideas that have fuelled his journey—one that began with him wanting to be a space engineer and ended with him creating content that has been seen and read and heard by millions. His thoughts range from the importance of creating habits for long-term success to the foundations of money management.
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Epicly Sh*t
- By Anonymous User on 09-30-22
By: Ankur Warikoo
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Money. Wealth. Life Insurance.
- How the Wealthy Use Life Insurance as a Tax-Free Personal Bank to Supercharge Their Savings
- By: Jake Thompson
- Narrated by: Alan Caudle
- Length: 1 hr and 27 mins
- Unabridged
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Overall
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Performance
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Story
America's elite have been using cash value life insurance to stockpile wealth for centuries. Used correctly, it is better described as a personal bank on steroids, and a financial bunker for tough times. To be clear, this audiobook is not about the typical garbage peddled by most insurance agents. Rather, an alternative to the risky investment strategies taught by Wall Street. It details a highly efficient form of cash value life insurance designed to supercharge your savings and stockpile wealth.
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what the heck was this?
- By Gladys Torres on 10-20-16
By: Jake Thompson
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OKC’s Past & Present Weaved Together
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Takeover
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In the summer of 1932, the Weimar Republic was on the verge of collapse. One in three Germans was unemployed. Violence was rampant. Hitler’s National Socialists surged at the polls. Paul von Hindenburg, an aging war hero and avowed monarchist, was a reluctant president bound by oath to uphold the constitution. The November elections offered Hitler the prospect of a Reichstag majority and the path to political power. But instead, the Nazis lost two million votes.
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America repeats history.
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Our First Civil War
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What causes people to forsake their country and take arms against it? What prompts their neighbors, hardly distinguishable in station or success, to defend that country against the rebels? That is the question H. W. Brands answers in his powerful new history of the American Revolution.
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Not a fresh take on the Revolution
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Founding Partisans
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- By: H. W. Brands
- Narrated by: Robert Fass
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Overall
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Performance
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Story
To the framers of the Constitution, political parties were a fatal threat to republican virtues. They had suffered the consequences of partisan politics in Britain before the American Revolution, and they wanted nothing similar for America. Yet parties emerged even before the Constitution was ratified, and they took firmer root in the following decade. In Founding Partisans, master historian H. W. Brands has crafted a fresh and lively narrative of the early years of the republic as the Founding Fathers fought one another with competing visions of what our nation would be.
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Very educational
- By Mark Mears on 02-21-24
By: H. W. Brands
What listeners say about Paper Soldiers
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- Todd Adair
- 03-23-24
This is a great book on the weaponization of the dollar
I really enjoyed this book about how the Dollar has been polarized into a weapon of mass destruction. It is amazing how powerful people can influence this currency just in a few words that disrupts the whole world.
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- Roar Rismo
- 09-23-24
An important read for all Americans
Paper Soldiers creates a clear view of how the dollar shapes policy and how policy shapes the dollar. Written with an accessible style, this book makes it easy for all of us to have insight into the complex economics that shape our lives. Even those of us who have no economic or even political expertise. This book gives the opportunity for all to have the understanding they need to recognize how important the language and policy of our leadership is in terms of the impact on our lives and the lives of people across the globe. Well researched and well sourced. Excellent.
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- John K
- 10-09-24
A must read
Excellent. Well done explanation of our financial system, our trade strategy, why a strong dollar is so important and how idiots can bring it down
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- Johnny
- 04-06-24
Anti-Trump should be the title
I like listening to Bloomberg, so wanted to listen to this to learn unique things about the value of the dollar. But learned nothing new. Could have learned all of this in the book through Wikipedia. Then the author spent a third of the book bashing Trump. I don’t like him either, but at the same time don’t want to waste time reading things that I already knew. Disappointing as the author obviously showed a bias against Trump and chose to spend almost half of the book lamenting on him.
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- Mark Studebaker
- 05-14-24
Felt leftist. Disappointing
I was looking for a book that covered the impact of the dollar with regard to recent US policies. This was NOT it.
If you like Trump bashing in particular and GOP in general, you'll probably like this book. The author dutifully mentions democracy, saving our preserving democracy ad nauseum, Jan 6th, It felt partisan.
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- Amazon Customer
- 10-03-24
Lacks a Thesis
This is a boring history lesson and lacks a unique perspective. So what? If I know all these references what am I gaining from this book?
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