HJ Sims Market Commentary: Cracking the Code

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Codes are, of course, absolutely critical to communication during times of war and, in modern military history, one that was never broken remains famous to this day. During World War II, Japanese cryptographers intercepted but were never able to decipher the messages sent by the U.S. Marine Navaho Code Talkers. The code was developed at Camp Elliott in San Diego in May 1942 by a small group of 29 Navajo men, some as young as 15, based on the complex, unwritten, verb-based Navaho (Diné) language. Although far from Window Rock, the Navajo Nation Capital, central bankers around the world have developed their own cryptic language that traders and investors struggle to decipher.

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