Ash Bennington sits down with Weston Nakamura, founder of Across the Spread, to unpack one of the biggest macro stories in global markets: the extraordinary coordination between the United States and Japan surrounding the Japanese yen. Weston explains why Japan has entered an entirely new economic regime, with inflation, wages, bond yields, policy rates, and equity markets all reaching levels not seen in decades, while the yen continues to weaken. He breaks down why traditional explanations such as interest-rate and bond-yield differentials are no longer enough to explain the currency’s decline, and why capital flight from Japan may be becoming an increasingly important force. Finally, Weston explains how closer U.S.–Japan coordination could reshape Japanese monetary and fiscal policy — and why, despite the intervention efforts, he still believes USD/JPY reaching 200 remains a plausible longer-term outcome. 🔥 Get 𝗙𝗥𝗘𝗘 𝗔𝗖𝗖𝗘𝗦𝗦 to Real Vision https://rvtv.io/3YOZZUe Timestamps: 0:00 - Japan Enters a New Economic Regime 2:30 - Inflation Changes Everything for Japan 4:36 - Why Japanese Consumers Are Struggling 7:55 - Japan’s Massive Cash Hoard Starts Moving 9:14 - Could Capital Flight Reshape Global Markets? 10:18 - What Happened to the Yen? 12:23 - Why This Is Really Yen Weakness, Not Dollar Strength 13:24 - Japan’s Previous Currency Interventions 17:34 - Why a Weak Yen Is Now a Problem 20:11 - Why Interest Rate Differentials No Longer Explain USD/JPY 23:46 - The Structural Forces Crushing the Yen 25:52 - Rising JGB Yields and Capital Flight 27:00 - Can Currency Intervention Actually Work? 29:11 - What Really Happened With U.S.–Japan Coordination? 30:09 - Weston Challenges the Intervention Headlines 39:35 - The Scott Bessent Yen Photo Explained 43:09 - What the Nikkei and Financial Times Reported 46:56 - What the U.S. and Japan Actually Confirmed 49:15 - Why U.S. Treasuries Are the Real Story 52:48 - How Washington Gains Leverage Over Japan 56:15 - Weston’s USD/JPY 200 Call 59:31 - The Bigger Global Implications About Real Vision™: We arm you with the knowledge, the tools, and the network to succeed in your financial journey. Connect with Real Vision™ Online: Twitter: https://rvtv.io/twitter Instagram: https://rvtv.io/instagram Website: 🔥 https://rvtv.io/3Y4t5Pw 📈 Get your Real Vision swag: https://shop.realvision.com 📣 Elevate your brand with Real Vision. Connect with us at partnerships@realvision.com to explore advertising possibilities. Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf #realvision #japan #yen #westonnakamura #ashbennington #usdjpy #bankofjapan #boj #forex #currency #ustreasuries #bonds #macro #markets #investing