What is the main winner of the secret pact between global powers?

Monetary conspiracy: What is the main winner of the secret pact between global powers  The plan prepared by several central banks has caused some world currencies lose value increase and others, according to financial analyst James Rickards. The US dollar and Chinese yuan have been depreciated as a result of an agreed frame during a secret meeting in the framework of the meeting of finance ministers and central bankers of the G20 in Shanghai (China) held in late February.  During that event, the main event was held with much public attention, unlike the parallel conversation between "the monetary manipulators" of the United States, Europe, Japan, China and the International Monetary Fund (IMF), type James Rickards financial commentator in the Daily Reckoning website. The result was the largest operation of weakening dollar from the famous Plaza Accord of 1985. The mission of this pact was depreciating US currency, whose value was hurting exports and US employment and that in the next three years, fell 30% and gave new strength to the economy of that country. However, this time the biggest winner has been China, while the losers papers have them awarded Japan and Europe.  Monetary Manipulations  The monetary manipulations are negative sum games. For example, a country may receive a temporary boost after devalue its currency but this measure harms its trading partners and even the first country to devalue its currency is impaired if other NEXT the same way. However, a new theory of monetary manipulation made ​​by former US Federal Reserve Chairman Ben Bernanke It assumes that several countries can benefit from a devaluation if they act simultaneously to give advantage or monetary relief to a country. The drastic devaluation of the yuan of China last August sent destabilizing the global financial system wave. With this backdrop, global financial powers who gathered in Shanghai agreed that the Asian giant needed help because, being the second largest economy in the world, his fall could drag others said Rickards.  anyway, devalue the yuan even impossible because of the risk of increasing destabilization of the markets. The solution was toweaken the currency to appreciate relative way of the main partners of China: Japan and Europe. In other words, if the yen and the euro increase in value is the same as if the yuan depreciates, but without the shock of devaluation. How did they achieve their purpose Japan and the European Union? "Through the increased expectations , " said the analyst. In traditional monetary policy, a central bank devalues ​​and appreciates its currency with a cut and a rate increase, respectively, but tanbien can minimize its value by increasing expectations of a rate hike and then do nothing.  The markets respond to that change, which is comparable to an invisible rate cut. Effect of Shanghai Agreement The immediate effect of the new Agreement Shanghai was that the euro and the yen rose versus the dollar, while the yuan fell without an explicit announcement of devaluation by China. Meanwhile, the US Federal Reserve It took a somewhat different in this plan course, because the important thing was that the markets pay the closest attention to the rate yuan-dollar. Thus, the US entity caused the depreciation of the dollar when on March 16 he decided to do nothing and there were expectations to increase their rates. "Given the appreciation of the currencies of the EU and Japan and the weakening dollar, no one noticed the de facto devaluation by China because the yuan-dollar rate unchanged mentuvo. Fantastic!" Stresses Rickards. USA and China are the two largest economies in the world and older, if they fall, the other countries will go back. Both countries showed "signs of weakness", which was the turn that "Europe and Japan had to give in to China , " sums up this expert