A closer look
Central bankers literally locked themselves in a New York hotel to orchestrate a global currency crash. By 1985, the US dollar was so overwhelmingly strong that American manufacturers were begging for mercy because their exports were too expensive. The Plaza Accord was essentially a cartel meeting where the US, UK, France, West Germany, and Japan agreed to artificially nuke the dollar's value. It worked flawlessly for America, but it sent the Japanese Yen skyrocketing, accidentally inflating the monstrous Japanese asset bubble that doomed them to a "Lost Decade" of stagnation.
