An edition of Bankrupting the Enemy (2007)

Bankrupting the Enemy

The U.S. Financial Siege of Japan Before Pearl Harbor

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Last edited by MARC Bot
December 17, 2020 | History
An edition of Bankrupting the Enemy (2007)

Bankrupting the Enemy

The U.S. Financial Siege of Japan Before Pearl Harbor

  • 0 Ratings
  • 0 Want to read
  • 0 Currently reading
  • 0 Have read

Award-winning author Edward S. Miller contends in this new work that the United States forced Japan into international bankruptcy to deter its aggression. While researching newly declassified records of the Treasury and Federal Reserve, Miller, a retired chief financial executive of a Fortune 500 resources corporation, uncovered just how much money mattered. Washington experts confidently predicted that the war in China would bankrupt Japan, not knowing that the Japanese government had a huge cache of dollars fraudulently hidden in New York. Once discovered, Japan scrambled to extract the money. But, Miller explains, in July 1941 President Roosevelt invoked a long-forgotten clause of the Trading with the Enemy Act of 1917 to freeze Japan's dollars and forbade it to sell its hoard of gold to the U.S. Treasury, the only open gold market after 1939. Roosevelt s temporary gambit to bring Japan to its senses, not its knees, was thwarted, however, by opportunistic bureaucrats. Dean Acheson, his handpicked administrator, slyly maneuvered to deny Japan the dollars needed to buy oil and other resources for war and for economic survival. Miller's lucid writing and thorough understanding of the complexities of international finance enable readers unfamiliar with financial concepts and terminology to grasp his explanation of the impact of U.S. economic policies on Japan. His review of thirty-seven studies of Japan's resource deficiencies begs the question of why no U.S. agency calculated the impact of the freeze on Japan's overall economy. His analysis of a massive OSS-State Department study of prewar Japan clearly demonstrates that the deprivations facing the Japanese people were the country to remain in financial limbo buttressed its choice of war at Pearl Harbor. Such a well-documented study is certain to be recognized for its significant contributions to the historiography of the origins of the Pacific War.

Publish Date
Language
English
Pages
352

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Previews available in: English

Edition Availability
Cover of: Bankrupting the Enemy
Bankrupting the Enemy: The U.S. Financial Siege of Japan Before Pearl Harbor
October 15, 2007, United States Naval Inst., Naval Institute Press
Hardcover in English

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Book Details


Table of Contents

List of Illustrations
Prologue: War Plan Orange
Sources and Technical Notes
Acknowledgements
Introduction:. Bankruptcy
1. Trading with the Enemy
2. The 1930s: Financial Power Slumbering
3. Hanging by a Silken Thread
4. Japan's Failed Quest for Dollars through Manufacturing
5. Anticipating Japan's Bankruptcy, 1937-1940
6. Birth of an Embargo Strategy: The Alternative to Bankrupting Japan
7. Export Controls, 1940 to Mid-1941
8. The Japanese Financial Fraud in New York
9. An Aborted Financial Freeze, Early 1941
10. Japan's Vulnerability in Strategic Resources
11. The Vulnerability of the Japanese Economy and People
12. The Vulnerability of Japanese Exports to the United States
13. The Vulnerability of Japan in Petroleum
14. Momentum for the Financial Freeze, May-July 1941
15. The Fictitious U.S. Oil Shortage
16. Freeze: The Crucial Month of August 1941
17. Barter and Bankruptcy
18. Calamity: The Economy under Siege
19. Furtility: The Final Negotiations
Epilogue:. Bankruptcy and War Crimes
Appendix 1:. The U.S. Oil Shortage that Never Was
Appendix 2:. Details of the OSS/State Department Study of Japanese Foreign Trade and Finance
Notes
Bibliography
Index

Classifications

Library of Congress
HF1602.15.U6M55 2007, HF1602.15.U6 M55 2007

The Physical Object

Format
Hardcover
Number of pages
352
Dimensions
9.1 x 6 x 1.2 inches
Weight
1.3 pounds

ID Numbers

Open Library
OL12373077M
Internet Archive
bankruptingenemy0000mill
ISBN 10
1591145201
ISBN 13
9781591145202
LCCN
2007016455
OCLC/WorldCat
123391081
Library Thing
4620820
Goodreads
2014125

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