It started in June and continues until the end of August.

In the past few months, Takeshita Deng, the great Tibetan minister, has spent almost half of his time in the United States.

Not only him, but also the finance ministers of Britain, France, and Germany have been gathering here to discuss currency and exchange rate issues.

In fact, their frequent appearances are also blowing the wind to the media.

What kind of wind is blowing? That is, several of the world's major economies have decided to cool the dollar.

Tyre! Woody man! Why don't you stop it?!

Stop speculating on the dollar, or don't be unpredictable!

cough~, this is mainly for those speculators in the foreign exchange market.

If the dollar exchange rate can be brought down without a single soldier, then it would be great.

However, contrary to expectations, during this period the dollar in the foreign exchange market not only did not depreciate, but appreciated.

Two months ago, the dollar was 1:250 against the yen, and now it is almost 1:260.

The speculators, who are clearly hidden behind the scenes, do not think that these countries can reach any substantive agreement.

After all, according to the newspaper, only the dollar depreciated, and the rest of Japan, Britain, France, and Germany all rose.

How is this possible, other countries are not stupid.

So not only did everyone not believe it, but they thought that these companies were very inward-looking and poor in donkey skills.

Speculators in the foreign exchange market have always been known for their audacity, and the district government does not pay attention to them at all.

Because the foreign exchange market trading points are scattered, including Asia, Europe and the United States, they take turns to open the market 24 hours a day.

In addition, there is absolute freedom and no regulation, even if the government agency wants to do something, it has to follow the rules.

Therefore, in the foreign exchange market, the power of the state and the military are not easy to use, and only the market power and the power of capital are its force.

Because of these characteristics, the foreign exchange market has attracted many large banks, central banks, institutional investors, currency speculators, companies, governments and other financial institutions.

And the speculators who oppose them in the United States are a certain part of these institutions.

As for whether there are any domestic banks or financial institutions among the speculators, hehe, guess?

Where is the world's largest dollar market? North Rice, of course.

However, there are many things that everyone knows by heart, and there is no need to delve into them.

But no matter what, if the dollar continues to appreciate, it will be cutting the life of the government of the country.

Since the media briefing will not work, it can only be serious.

After several months of contact, Japan, Britain, France, and Germany have basically reached a consensus on the depreciation of the dollar and the appreciation of their own currencies.

Although the appreciation of the dollar will have a certain impact on the domestic economy, the situation is stronger than people, and this point has to be compromised.

However, there is no objection to the depreciation of the dollar, but the national currency rises more and rises less, which has a lot of room for negotiation.

According to normal thinking, the trade surplus countries certainly want their currencies to appreciate as little as possible.

A simple and crude understanding is that how much the local currency appreciates against the US dollar is equivalent to a few discounts on the import of rice products.

The goods of the rice country are discounted compared with before, and the people of the country will of course buy more, which is good for the rice country.

On the other hand, it is not conducive to the export of domestic goods.

Therefore, the United Kingdom, France, and Germany do not want their currencies to appreciate too much, after all, they are trade surplus countries.

But unexpectedly, in the last few consecutive communications, the neon minister Noboru Takeshita has uncharacteristically become very talkative.

In the draft of the officialdom agreement, the United States proposed that the currencies of the other four countries should appreciate by 10%~12% against the US dollar.

However, at the consultation meeting, Noboru Takeshita took the initiative to mention to Baker, the Minister of Finance of the United States, that in fact, Neon can accept an appreciation of 10%~20%.

This. Neon suddenly took the initiative so much that the United States was a little embarrassed.

Dog, you're giving too much.

The reason why Noboru Takeshita has such self-confidence is not only because of the domestic policy of "strong yen".

In addition, he has already obtained the survey data of domestic industry and commerce, as I said before.

The ratio of the US dollar to the yen is between 1:155 and 1:180, and neon exports are still bearable.

So even if the appreciation is 20%, it is still 1:200, and this exchange rate neon products are still quite competitive.

In this case, it is good to sell the father of the rice country, and taking a step back can not only reduce the pressure of trade with each other, but also sell goods more happily, why not.

The three European countries were puzzled by Japan's initiative and secretly happy at the same time.

Currency appreciation, this is a very simple math problem.

As long as the yen rises enough, it doesn't matter if the currency rises a little less.

After all, the discount coupon pays attention to a relative value.

To use an analogy, both the yen and the mark have appreciated against the dollar.

The yen rises a little more, say, 15%, and the mark rises a little less, say 5%.

Then the mark will rise by 10% less than the yen, which is equivalent to the depreciation of the mark against the yen.

At this time, when West German goods are sold to Japan, it is equivalent to having a 10% coupon.

Although West Germany has risen by 5% to the United States, on the whole, the East is not bright and the West is bright.

If you look at the adjustment between currency exchange rates, the game between countries is everywhere.

The negotiations between June, July, and August were a game between the United States and the other four countries.

It's just that because of Neon's initiative, the difficulty of the game has been greatly reduced, so everyone basically reached an agreement in September.

Finally, the draft of the Plaza Accord stipulates that the currencies of the United Kingdom, Germany and France will appreciate by 10~12%, and the neon will appreciate by 10~20%.

Of course, this is the range of exchange rate changes drawn up by the five countries, and how to implement it depends on market performance.

And the next game is the game between the governments of the five countries and the foreign exchange market.

Anyway, the first session has ended, everyone has reached a consensus, and they are ready to start signing the agreement.

On September 22, the finance ministers of the five countries gathered at the Plaza Hotel in New York.

The media reporters who have already gotten the news have leaked the water around this place.

They don't know the expertise of currencies or exchange rates, but they also know that this is a good thing for the United States.

In the face of the flashing lights of reporters, the finance ministers of the five countries all talked about the concept of globalization with smiles on their faces.

What this agreement is aimed at deepening trade relations with each other, what global trade is the trend of the future, etc.

The appearance of living in harmony is not at all the deceit at the negotiating table before.

Especially the neon Hideshita Takeshita, the one who laughs is called a happy one.

It seems that as soon as the agreement is signed, neon will become the second pole in the world from then on, and super beauty is just around the corner.

Because they had all ventilated in advance, at the public signing ceremony, everyone tacitly wrote their names.

As the five held up the text of their agreement and presented it to the public, a new chapter in history began.

However, the Plaza Accord is only a communiqué.

In terms of content, it is basically just the fact that the five countries want to jointly lower the dollar exchange rate.

As for the amount of reduction that was discussed before, the communiqué itself did not mention a word.

The reason for this is that the five countries want speculators in the foreign exchange market to side with them.

The range of the downward adjustment of the dollar exchange rate in the communiqué was deliberately blurred to make everyone feel that it was profitable.

In this way, we can attract more foreign exchange speculators to the side of the five countries, and then work together to bring down the dollar.

As I said before, the central banks of the five countries are not calling for wind and rain in the foreign exchange market, and they cannot force the depreciation of the dollar.

If they want to achieve their goals, the central banks of the five countries can only go out in person and play games with investors in the foreign exchange market.

In the past 85 years, the trading volume of the foreign exchange market has been hundreds or hundreds of billions per day.

And the five countries are ready to use $18 billion to shoot the bullets in a month's time.

In terms of volume, there is a gap in each other's strength, of course, the foreign exchange market is not all copying dollars, and the hundreds of billions of trading volume can only be said to be unknown to each other.

But in the face of tens of thousands of traders around the world staring at the screen every day, the central banks of the five countries are not sure of victory.

At this time, they need more speculators to stand by their side and jointly throw the dollar out.

This is the fundamental reason why the "Plaza Accord" does not specify the specific exchange rate range.

But the five countries ignore the fact that the market has never been rational. The more ambiguous it is, the more likely it is to generate speculation.

In the end, it can even lead to speculative transitions, creating another unimaginable situation.

Of course, this is a later story, and the goal at this time is the depreciation of the dollar.

But it's not that no one realizes this, Paul. The day before, Volcker had specifically added the phrase "orderly devaluation of the dollar" to the agreement.

"Orderly devaluation" is the focus, and it seems that there is no shortage of discerning wise men on both sides of the agreement.

It's a pity that neither the United States nor the other four countries have noticed these details at all.

The Plaza Agreement is signed, and the following can be executed according to the plan.

After signing the agreement, Takeshita Deng, the prime minister of the house, stood at the door with his waist crossed after leaving the Plaza Hotel, looking at the many reporters below, his expression faintly proud.

"There's no way, it's definitely going to rise, who made my name Deng (Sheng)."

Xingtian Fengxiong, who was standing beside him, had a subtle expression, "That's what you said. ”

The Japanese pronunciation of the word "noburo" is the same as the word "sheng".

So this Tibetan minister is playing a homophonic stalk here.

Being able to play stalks, it means that the mood is quite good.

It can also be seen from here that the appreciation of neon against the yen is actually very happy to see it happen.

As I said before, Neon is a resource-poor country.

The yen appreciates and the dollar depreciates, and then it will be cheaper to import a lot of resources domestically.

Exports are unfavorable, imports are favorable. Compare the two phases, and then synthesize it, in fact, there is no difference.

The complacent Noboru Takeshita and the accompanying officials went to be interviewed by the media.

And Shirakawa Kaede, who was far away on the other side of the ocean, almost jumped up excitedly after getting the news.

Is the big one finally coming?

"Quick! Fast! Arai-san, let the funds all move.

Shirakawa Holdings and Beidu Bank must ensure that all the funds in all accounts are in place before the 23rd. ”

What Shirakawa Kaede has to do now is to load all the ammunition and open the safe.

The time to really start attacking is tomorrow.

Why? Because tomorrow the central banks of the five governments will be ready to sell the dollar.

In this second game, Shirakawa Kaede decided to stand with the governments of the five countries and buy yen liters! The dollar falls!

(End of chapter)