Comment by halJordan
10 hours ago
Japan is a what? They've been dumping billions of dollars and trillions of yen into their economy since the 1990s. How is this any different than the past thirty years of intervention? I stg you guys. I get that ginning up a conspiracy gives you agency in a powerless world but come on.
While I don't agree with the phrasing of the above comment it doesn't seem factually wrong?
The article states similar coordinated currency manipulation (to instead weaken the yen) happened in 2011 after the Tohoku earthquake. There was a bunch of mutual currency manipulation in the 1990s by the US and Japan.[1] In the 1980s there was the Plaza and Louvre accords. [2][3] And you can find more going all the way back to end of World War 2.
The main interesting difference in the current intervention is that the US is selling euros (not dollars) to buy yen.
[1] https://www.nber.org/papers/w8914
[2] https://en.wikipedia.org/wiki/Plaza_Accord
[3] https://en.wikipedia.org/wiki/Louvre_Accord
Not really a conspiracy theory, it’s just an indicator of the underlying issues either the global economy. Yeah it’s been red for decades, it just shows there are segment of the world economy that are under high stress.
Difference is US now has its own issues which just makes the overall situation even more fragile.
No one knows for how long or what happens next, but you can’t look at things and think, eh it’s just the way it is. Things are a certain way until they’re not