Synopses & Reviews
Finalist for the 2015 William E. Colby Award
For more than a decade, America has been waging a new kind of war against the financial networks of rogue regimes, proliferators, terrorist groups, and criminal syndicates. Juan Zarate, a chief architect of modern financial warfare and a former senior Treasury and White House official, pulls back the curtain on this shadowy world. In this gripping story, he explains in unprecedented detail how a small, dedicated group of officials redefined the Treasuryand#8217;s role and used its unique powers, relationships, and reputation to apply financial pressure against Americaand#8217;s enemies.
This group unleashed a new brand of financial powerand#151;one that leveraged the private sector and banks directly to isolate rogues from the international financial system. By harnessing the forces of globalization and the centrality of the American market and dollar, Treasury developed a new way of undermining Americaand#8217;s foes. Treasury and its tools soon became, and remain, critical in the most vital geopolitical challenges facing the United States, including terrorism, nuclear proliferation, and the regimes in Iran, North Korea, and Syria.
This book is the definitive account, by an unparalleled expert, of how financial warfare has taken pride of place in American foreign policy and how Americaand#8217;s competitors and enemies are now learning to use this type of power themselves. This is the unique story of the United Statesand#8217; financial war campaigns and the contours and uses of financial power, and of the warfare to come.
"In this lengthy memoir, Zarate, a former U.S. Treasury and White House counterterrorism official, recounts how his team worked to 'uncover hidden or layered assets' in Iraq and helped fight the Bush administration's 'War on Terror.' He ably describes the sophisticated financial chicanery of enemy states, the ins and outs of money laundering, and the efforts of private banks and corporations to protect global trade and finance. However, readers should not expect to receive a complete picture of financial warfare, much less learn about the future. These windy recollections are crafted mainly for the purpose of finding a place for their author in recent history. Zarate's insider's account, which relies on diaries and personal experiences, offers no fresh insights into Middle East or global financial strategy, and the narrative contains more than its share of tedious 'I sat down with U.S. Central Command' type moments. Zarate squeezes important topics such as systemic vulnerability, currency manipulation, and cyberwarfare into a few pages at the end. No doubt, as the author makes clear, dirty money from Iraq, Iran, Syria, North Korea, and other nations threatens to poison the entire global economic landscape. In spite of the book's limitations, those intrigued by international money laundering and the U.S. government's efforts to prevent rogue states from financing terrorism will appreciate Zarate's account. Agent: Max Brockman, Brockman Inc. (Sept.)" Publishers Weekly Copyright PWxyz, LLC. All rights reserved.
Finalist for the William E. Colby Military History Award
Bryan Burrough, New York Times Business section
and#147;For those of us who start feeling drowsy at the very mention of the words and#145;Treasury Department,and#8217; this book is an eye-opener. Under Mr. Zarate, and his successors, Treasury quietly built new capabilities that owe less to junk bonds than to James Bondand#133;. and#145;Treasuryand#8217;s Warand#8217; does a fine job of shedding light on a new and significant aspect of international relations that many of us may not be aware of, and that is likely to gain in importance in the years to come.and#8221;
Jordan Chandler Hirsch, Washington Post
and#147;[A] thorough, thoughtful insiderand#8217;s accountand#133; The true value of Zarateand#8217;s book lies in explaining the difference between traditional sanctions and this new form of financial warfare.and#8221;
ABA Banking Journal
and#147;I consider it a must-read for anyone who wants to know where we are, where weand#8217;ve been, and what challenges lie aheadand#133; Treasuryand#8217;s War is detailed, interesting, and sincere.and#8221;
and#147;Zarateand#8217;s book admirably underscores the dire national-security threat posed by the almost-unfathomable level of our national debtand#133; There is much in Zarateand#8217;s book that enlightens us, and he gets many things right and proposes some innovative ideas.and#8221;
Arnaud de Borchgrave, UPI
and#147;One of the world's most challenging assignments -- explained in vivid, dramatic detail by Juan C. Zarate, a former super sleuth in the U.S. government's long campaign to find and disrupt al-Qaida's terrorist funding in the Worldwide Weband#133;Zarate's "Treasury's War" is a gripping electronic whodunit in a constantly changing environment where inequalities are widening and where technology is destroying more jobs than it createsand#133;. This is the first book that lifts the veil of secrecy on the financial power [Zarateand#8217;s team] marshaled against America's enemies.and#8221;
and#147;A bracing account by a knowledgeable authority.and#8221;
General Michael Hayden, former Director of CIA and NSA
and#147;Juan Zarateand#8217;s groundbreaking Treasuryand#8217;s War illuminates an underappreciated and under commented revolution in international affairs. Beset by nontraditional enemies and threats, the United States in the Bush administration leveraged Americaand#8217;s place in the global financial system to create some important and#145;asymmetrical powerand#8217; of its own. As advocate and architect of this new approach, Zarate is well placed to tell the tale of Americaand#8217;s most unique precision
guided weapon and he does so with detail, candor, and perspective.and#8221;
Sam Nunn, former U.S. Senator
"For those wanting to know how financial power and influence are wielded in the world, this is the book. Juan Zarate not only tells a gripping story, but lays out the policy implications and future for the use of this power. This is a must-read about the evolution of financial warfare over the past decade and how it will continue to play a central role in the nation's security."
Peter Bergen, author of Manhunt: The Ten-Year Search for bin Laden, from 9/11 to Abbottabad
and#147;Juan Zarate is known as one of the worldand#8217;s leading experts on terrorism. His new book is the riveting account of how the United States has gone to war financially with terrorist groups such as al-Qaeda and rogue states such as Iran. Treasuryand#8217;s War is deeply researched and well written and is the definitive narrative of this hitherto largely unknown war.and#8221;
Admiral Mike Mullen, 17th Chairman, Joint Chiefs of Staff
"Juan Zarate has written an exceptional book about a vital area of our national security very few people understand. I observed first-hand the evolution and targeting of illegal financing led by Zarate and other pioneers who remain on the frontier of fighting international corruption. Juan's insights will educate every reader."
Over the past decade, America has been waging a new kind of war against the financial networks of rogue regimes, proliferators, terrorist groups, and criminal syndicates. In this book, Juan Zaratewho, along with a dedicated group of Treasury officials, designed and implemented this strategy and capabilitytakes readers behind the scenes to explain in unprecedented detail how this group redefined the Treasury's role, and used its unique powers, relationships, and reputation to apply financial pressure against America's enemies. This new brand of financial power leveraged the private sector and created an international financial environment in which the private sector's bottom line dovetailed directly with U.S. national security interests with the goal of isolating rogues from the legitimate financial system. Treasury and its tools soon became critical in all the central geopolitical challenges facing the United States, including terrorism, proliferation, and regimes in North Korea, Iran, Syria, Lebanon, Iraq, and Cuba.
There has been very little written about the unique story of the U.S.'s financial warfare campaigns. This book is the definitive account, by an unparalleled authority on the subject.
A former Deputy National Security Advisor for Combatting Terrorism reveals how he invented financial warfare in the years after 9/11
About the Author
Juan C. Zarate is a senior adviser at the Center for Strategic and International Studies (CSIS), the senior national security analyst for CBS News, and a visiting lecturer of law at Harvard Law School. Prior to that, he served as the deputy assistant to the president and deputy national security advisor for combating terrorism, and the first ever assistant secretary of the Treasury for terrorist financing and financial crimes. He appears frequently on CBS News programs, PBSand#8217;s NewsHour, NPR, and CNN, and has written for the New York Times, The Wall Street Journal, Washington Post, and more. He and his family live in Alexandria, Virginia. Follow him on Twitter: @JCZarate1