It was obvious we faced a protracted poker game between the two sides, with plenty of bluff and counterbluff
, but you still wonder if 'racing plc' actually intended to embark on what is beginning to resemble 'nuclear war', with a mutually assured destruction (MAD) scenario.
There was bluff and counterbluff
and the stakes were often raised, most memorably at the time of the Cuba crisis in 1962 -- some of us recall when Kennedy helped to save the world much more clearly than when he was shot.
39) Similarly, when on 26 July Lichnowsky began to report that Britain might join with France and Russia in the event of war, German Chancellor Bethmann Hollweg told his personal assistant of the "danger that France and England will commit their support to Russia in order not to alienate it, perhaps without really believing that for us mobilization means war, thinking of it as a bluff which they answer with a counterbluff
Instead, the dialogue between investors will remain a game of bluff and counterbluff
, as institutions threaten to take steps that both sides know are costly to them.