  Low energy nucleon dynamics in the effective field theory (EFT) of nuclear
forces is investigated by using the formalism of the generalized quantum
dynamics (GQD). This formalism is based on a generalized dynamical equation
derived as the most general equation of motion consistent with the current
concepts of quantum theory and allows one to extend quantum dynamics to the
case where the fundamental interaction in a quantum system is nonlocal in time.
The Schr{\"o}dinger equation follows from this equation in the case where the
interaction in a system is instantaneous. We show that the effective theory of
nuclear forces gives rise to low energy nucleon dynamics which is governed by
the generalized dynamical equation with a nonlocal-in-time interaction
operator. This operator is shown to provide a natural parametrization of the
interaction of nucleons and can be derived order by order by using methods of
subtractive EFT's. We show that the use of the GQD for describing nucleon
dynamics allows one to formulate the EFT of nuclear forces as a completely
consistent theory with a well-defined equation of motion which does not require
renormalization.
