"Titled "EXCLUSIVE-UK to lead G7 discussion on COVID economic recovery on Feb. 12", Reuters "Healthcare" article seems to have so exclusive, the internet could barely have it... but why
Next Friday (12-Feb), Britain's Treasury Chief Sec "Dishy" Rishi and BoE Governor Andrew Bailey will be hosting a HouseParty sesh (🤥) for their equivalents from the US, Germany, Japan, France, Italy and Canada, as well as the European Central Bank.
They claim to "seek to achieve a strong and sustainable economic recovery from coronavirus*"; if successful this would surely be Britannica-winning stuff... so why could I only find the story with a direct link to it on Reuters, and various copy pastas. At time of writing, nothing was even to be found on gov.uk.
But why...
The Plaza Accord, 1985
The Plaza Accord was an agreement between the popular kids (France, UK, Germany, US and Japan) in 1985, and was intended to correct trade imbalances between the US and Germany†. From the 1980s the dollar had appreciated by over 50% against the yen, deutsche mark, french franc and sterling, putting pressure on US industry who were suffering in profits trying to trade overseas, as well as Europe and Japan.
The Accord resulted in the dollar being significantly devalued 50% against the yen and the deutsche mark by the next such meeting, the Luvre Accord, in Feb 1987.
However, this was significantly more than noteworthy at the time; it was the first time central banks agreed to intervene in Forex: in short, globalisation had arrived, for the mere fee of sovereignty.
In case it passed you by, the timing of this is agony in hindsight, as October that same year was.... memorable.... #crashbangwhollop
Is this what's in the pipeline?
It sure would explain why a meeting involving some of the wealthiest/most powerful nations on the planet, to "grandly reboot" the economic situation caused by the lurgy, is not even being discussed by those nations...
...they wouldn't want us to... alarm...
It is worth noting is the fact that this time round DXY has been crying itself to sleep every night for months now, currently dangling below 91.300; so could this HouseParty Accord be set to boost the dollar this time? Or could it be set to just obliterate it entirely ahead of our "never owning anything again, and being very happy"... *nods compliantly*
Up or down...
Adjustments and remedies (aka manipulations) like this are to be expected; after all it is what governments and allegiances are for. However, it really does seem to have been hush-hushed which gets the old cogs turning, does it not.
Either way, hold on to your (tin foil) hats; and maybe avoid trading against the dollar (inc. BTCUSD and friends) next Friday, until we know what these GeoChads are up to...
*TL;DR Soap Box Time:
they really ought to be sticking to the correct terminology on this stuff by now - for example, poor old HCoV-OC43 by all accounts an innocent coronavirus, frequently causing no more then the sniffles let alone a recession. Point being, there are 1000s are coronaviruses, and I'm certain they are only referring to one; and even with that, the infection is not the issue, it is the disease (think of a simple rhinovirus infection. Usually causes a cold, sometimes causes (devastating) pneumonia; however we don't then say that everyone who has a rhinovirus infection or cold, also has pneumonia, now do we!)
†and the US and Italy - but this is another story!
