Make Them a Mar-a-Lago Accord They Can’t Refuse


All the questions arising from the hectic first month of the second Trump administration find their expression in the dollar.

The idea is that other nations would agree to direct investment in the US to head off a trade war, and also coordinate to make their currencies stronger, and thus make the dollar more competitive.

For the arguments as to why you should take this seriously, first read “A User’s Guide to Restructuring the Global Trading System” written by Stephen Miran, the hedge fund manager and former Treasury economist who is set to become the chair of Trump’s Council of Economic Advisors. 

638199_A_Users_Guide_to_Restructuring_the_Global_Trading_System.pdf

There’s a precedent in the 1985 Plaza Accord, in which officials from the then-much-smaller capitalist world agreed to intervene to weaken the dollar. 

The nub is to get others to agree to the changes. 

As Trump has shown in the last few weeks, there are plenty of other sticks in his arsenal beyond tariffs to persuade others.

John Authers Bloomberg 27 februari 2025

https://www.bloomberg.com/opinion/articles/2025-02-27/make-them-a-mar-a-lago-accord-they-can-t-refuse


A ‘Mar-a-Lago Accord’; like Plaza Accord, followed by Louvre Accord


Det är dollarn bakom allt - Monetary Creation and Destruction del 5





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