Review
Books
Culture
War & peace
5 min read

Nuclear War A Scenario: the book that imagines the inconceivable

It's the most depressing book that you really need to read

Simon is Bishop of Tonbridge in the Diocese of Rochester. He writes regularly round social, cultural and political issues.

A nuclear explosion glows red and orange against the night sky.
A test explosion, 1956.

Nuclear War A Scenario (Torva, 2024) by Annie Jacobsen is about the most depressing book you could ever read and, perversely, all the more reason to read it.  Collectively, the human race has buried its head in the sand over the existence, power and proliferation of nuclear weapons. We are understandably focussed on the lasting impacts of climate change; however, nuclear war promises planetary destruction and the risks surrounding it have grown, rather than lessened, since the end of the Cold War. 

To help us focus on what we would rather not, Annie Jacobsen gives her book a plausible but hypothetical scenario. It starts with North Korea, for there we have an unbalanced, remote individual; an empathy free despot with unfettered power and unimaginable weapons at his disposal that now have the capacity to reach the east coast of the United States. 

We do not learn his reasons for launching missiles against the US in the scenario and never would, were it to happen, because Armageddon takes only minutes to unfold. Jacobsen is deeply informed round nuclear war, having talked to many highly placed American officials. One recurring anxiety she meets is that the decision to launch nuclear missiles is in the hands of the President alone and the US still operates on the so-called Launch on Warning doctrine. 

Launch on Warning means America will fire its nuclear weapons once its early warning sensor systems merely warn of an impending nuclear attack. These systems are sophisticated, but they can also be wrong, as the US discovered in 1979 when it briefly believed it was under attack from the Soviet Union. In Jacobsen’s scenario, the President has six minutes to decide what measures to take and has something approximating a menu to assist with this. Ronald Reagan observed: 

Six minutes to decide how to respond to a blip on a radar scope and decide whether to release Armageddon! How could anyone apply reason at a time like that? 

The menu, a little like ordering pizza with preferred toppings, is supposed to help with that moment. 

In Jacobsen’s scenario, US nuclear weapons are unleashed against North Korea but have to travel over Russia to get there. Russia’s early warning systems are less sophisticated and in the scenario these US missiles are believed to be an attack on Russia, not North Korea. This leads to Russia’s own uncompromising, near instantaneous response which leads to … well, you get the picture. 

A one megaton thermonuclear weapon detonates at one hundred and eighty million degrees Fahrenheit, which is four or five times hotter than the temperature at the centre of the sun and creates a fireball that expands at millions of miles an hour. This alone is unimaginable; replicating it hundreds of times over is impossible. The injuries sustained among those left; the loss of food, water, sanitation; the breakdown of law and order; the arrival of nuclear winter where temperatures plummet for decades without any infrastructure led Nikita Khrushchev to say: ‘the survivors will envy the dead’. 

Mark Lynas, a writer who for years has been helping the world to understand the science of climate change has recently turned his focus on the nuclear threat in his book ‘Six Minutes to Winter’. He observes: 

‘There’s no adaptation options for nuclear war. Nuclear winter will kill virtually the entire human population. And there’s nothing you can do to prepare, and there’s nothing you can do to adapt when it happens, because it happens over the space of hours.  It is a vastly more catastrophic, existential risk than climate change.’ 

Reaching the end of human capacity is an unsettling experience.  Solutionism is the Valley’s mantra: technology can solve every human problem, but binary thinking neglects the social, political and moral complexity of many issues and, in any case, catastrophic nuclear explosions are as likely to happen by accident as design - and could do at any time.  It’s not that we need more time for AI to resolve this existential threat; it’s that it never will. 

This is where the moral strength of faith traditions come into play as people embrace the strange hope of the powerless. Christian faith in particular cannot succumb to fatalism or the hacking of the book of Revelation to interpret the end of all things as code for nuclear war. God is creator and we are co-creators with him; we are not called to destruction when he has promised to renew the face of the earth through the resurrection of Christ.   

There is something specific about our generation. For eighty years, since the bombing of Hiroshima and Nagasaki, we have been the first generation with the capacity to destroy the whole world. Understandably, we do not want to think about this, but the fallout from this nuclear denial is that risks continue to multiply. More nations are thinking about developing nuclear weapons in an unstable world. In June 2025, the global nuclear watchdog, the IAEA said Iran was failing to meet its non-proliferation obligations for the first time in two decades and within days, Israel had launched missile strikes on Iranian nuclear sites – and many other targets – to set its nuclear programme back, followed in a significant escalation by US strikes. Nuclear weapons are a very present cause of insecurity, as the recent missile exchanges between India and Pakistan show so gravely.  

Despots watched what happened to Muammar Gaddafi after he relinquished his designs on weapons of mass destruction following pressure from western powers and are unlikely to make the same mistake. No-one can be sure the current US administration will offer a nuclear umbrella to Europe, especially when the President’s instincts are not internationalist and his preoccupation is with a golden dome shielding continental America instead.    

Almost no-one has agency in this, except for one vital piece of the puzzle: intercessory prayer, rooted in the promises of God. The ancient psalm writer prophesies: 

He makes wars cease to the end of the earth; 

He breaks the bow and shatters the spear; 

He burns the shields with fire. 

Be still, and know that I am God! 

I am exalted among the nations, 

I am exalted in the earth. 

And something greater than the spear is among us today.     

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Article
Culture
Economics
Ethics
6 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?
A montage shows Trump with a raised fist against other images of him and the phrase 'fight fight fight'.
$Trump coin marketing image.
gettrumpmemes.com,

Donald Trump’s “liberation day” tariffs may have driven sharp swings in global financial markets, but his actions in markets a few months earlier were in some ways even more peculiar.

On the Friday before his inauguration as the 47th US President in January, the Republican surprised many with the launch of the $TRUMP memecoin, described by its website as “the only official Trump meme”. The cryptocurrency token, in which Trump’s family business owned a stake, initially soared in value to more than $14bn over that following weekend. 

Then, on the Sunday, Trump’s wife Melania launched her own memecoin, $MELANIA, which reached a value of $8.5bn. Even the pastor who spoke at the president’s inauguration subsequently launched his own memecoin. 

For those wondering what exactly a memecoin is, you are not alone. In short, they are a form of cryptocurrency - an asset class that itself has attracted plenty of questions about its substance and purpose - representing online viral moments. They have no fundamental value or business model and, according to the US securities regulator, “typically have limited or no use or functionality”. 

Donald and Melania Trump’s coins subsequently plunged in price, but still have a value of around $2.5bn and $214mn respectively, according to website CoinMarketCap. 

There are plenty of others in existence. PEPE, based on a comic frog, has a value of around $3.6bn; BONK, a cartoon dog, has a market cap of $1.5bn; and PNUT, a reference to a squirrel euthanised by authorities in New York and about which Trump was allegedly “fired up” (although doubt has since been cast on the president’s involvement in the matter), is still valued at around $174mn, despite having fallen sharply in price.  

Dogecoin, seen as the world’s first memecoin and originally created as a joke, boasts a market value of around $25bn. (There are other memecoins which may not be suitable for these pages). 

Some people’s willingness to buy an “asset” with no use or fundamental value may seem strange to more traditional investors. But it can be viewed as just one manifestation of the speculative investor behaviour evident since the onset of the coronavirus pandemic and, indeed, at times throughout history. 

The price of Bitcoin recently rose above $100,000, despite many investors still viewing it as having little or no value (in 2023 the UK’s Treasury select committee described cryptocurrencies as having “no intrinsic value, huge price volatility and no discernible social good”). In early 2021, shares in GameStop - a loss-making US video games retailer that some hedge funds were betting against - rocketed as much as 2,400 per cent, as retail investors piled in, many with the aim of inflicting pain on the hedge fund short sellers (in that respect at least, a highly successful strategy that became the subject of the film Dumb Money). The huge rise in AI and other tech stocks in recent years - until the recent tariff-driven volatility - has also been described as a bubble by some commentators. 

Whether or not such episodes can be compared to infamous bouts of speculative mania in history depends on your point of view (and often can only be judged with the benefit of hindsight) - be it the 17th century Dutch tulip bulb mania, shares in the South Sea Company in the 18th century or the dotcom boom and bust of the late 1990s and early 2000s. 

But it does give rise to the question of when investment should start to be described as speculation or even as gambling? And what are the rights and wrongs of any of those activities? 

There can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources... 

Gambling can be thought of as risking a stake on, for instance, the result of a game of chance or sport in the hope of a bigger payout. While often the result is purely down to chance, in some cases a strategy or an element of research (for instance of a horse or football team’s form) can be used. Investment, in contrast, tends to involve purported economic utility and assets believed to have some sort of underlying value, and holds the hope of future profit (although there are also plenty of bad investments or those that have gone to zero). While an investor must be prepared to lose their entire stake, in some cases such an event is relatively unlikely (for instance, if they buy a fund tracking the performance of a major stock exchange). Speculation is harder to define, but is generally seen as shorter term than investment, with more chance of a bigger gain or loss, and dependent on price fluctuations. Rightly or wrongly, the term has a more negative connotation than investment. 

One writer who explored the ethics of these activities was Oswald von Nell-Breuning, a Jesuit theologian and economist who served as an adviser to the Pope and who was banned from publishing under the Nazis. 

While he found that “one general definition cannot capture all the nuances” of speculation, he identified two different types of speculative activity - one that was purely trying to make a profit from financial market trading, and one based on trying to create a viable business. (See this article in the Catholic Social Science Review for a fuller explanation of Nell-Breuning’s views on speculation). 

As the CSSR article shows, Nell-Breuning found that there can be positive effects from speculation - one might think of better liquidity and price discovery in a market, while, in commodity futures markets, speculators allow producers to hedge risk

But he also argued that there can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources away from production. 

And whereas gambling typically takes place within a circle of players who have chosen to take part, speculation, he wrote, can affect a greater portion of society - for instance, if it affects the price of shares or bonds they hold. 

The Bible - on which Nell-Breuning’s faith and analysis was based - does not take a prescriptive approach to such activities. But it does provide some interesting guidance.  

An entrepreneurial approach to business and investment is applauded, for instance when the writer of the book of Proverbs (traditionally believed to be King Solomon) praises the virtues of “an excellent wife”. These include investing in a field and using her earnings from business to plant a vineyard, and feeding her family from her gains. 

Jesus tells a story of a master who, before going on a journey, gives his property to his servants, each according to their ability. To one he gives five “talents” (a large unit of money), to a second two and to a third servant he gives one. 

The first servant trades with his talents and makes five more talents - a 100 per cent profit - and is applauded by the master on his return. The second servant also trades and similarly makes two more talents and is again applauded. 

But the third servant, being afraid and believing the master to be “a hard man”, hides the money in a hole in the ground. He is condemned as “wicked and slothful”, and told that he should at least have put the money in the bank. 

While Jesus’s story may primarily be about how we view God’s nature, how we use our God-given abilities and whether or not we can take risks in faith for Him, it is also hard not to see investment and indeed wise speculation as being virtuous activities here. Putting the money into a bank account is, in this story anyway, more of a fallback option. 

But the Bible also warns us against putting money above all else in our lives. The love of money is, famously, a root of all sorts of evil, while we are also told to be content with what we have, and that “wealth gained hastily will dwindle”. 

Nell-Breuning similarly warns that a “get-rich-quick” mindset, when this is placed above all else, can be harmful, and advises caution in situations where the lure of big profits can lead the speculator into market manipulation or fraud. 

After all, both gambling and crypto trading have the potential to become dangerous and damaging addictions needing treatment

Ultimately, Nell-Breuning struggled to come to a simple conclusion on the question of whether speculation, in and of itself, is morally wrong. It is, he wrote, a judgment call for those involved. 

When making such decisions ourselves, his - and the Bible’s - warnings may be worth bearing in mind.