This week the world’s 20 largest economies agreed on the record that a currency priced below its fundamentals is not a fact of nature. It is a fault produced by choices, harmful to everyone at the table and assigned to the IMF and the OECD to watch…When Treasury told Japan the yen sits below its fundamentals the remedy on the table was not a
devaluation it was up. That is what restoring equilibrium means…The dinar has spent…decades priced by politics, war, sanctioned scaffolding, by books nobody could verify, by a shadow economy that needed the number low. Every piece of that pricing is being dismantled in public and you have watched it happen…What was missing was the rule that says the gap itself is the problem. As of this week that rule sits on the G20’s own letterhead. The question is no longer whether anyone powerful wants a level playing field…The question is what happens to the most deliberately underpriced currency on the field when the whistle finally blows. Reset Intelligence
