James Baker announces the Plaza Accord on Sept. 22, 1985. David Mulford, the man at the center of today's show, is on the far right.
The world's biggest economies spend a summer plotting in secret, over French wine, to make the dollar worth much, much less.
You guessed it: The Plaza Accord!
On today's Planet Money, we tell the story of the 1985 deal — and reflect on what it says about today's currency wars, and about government efforts to set the value of money.
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