According to CoinMeta, co-founder Arthur Hayes stated in the article "Yen Earthquake" that US Treasury Secretary Janet Yellen plans to restart the money printing machine by manipulating the exchange rate between the US dollar and the Japanese yen, which will drive up the price of Bitcoin. Hayes believes that the Japanese Ministry of Finance's preferred plan is to have the Federal Reserve repurchase US Treasuries in exchange for dollars, and then sell those dollars to buy yen. The US and Japan conducted joint exchange rate interventions two weeks ago, and Yellen hopes that the Federal Reserve will increase the trading counterparty limits for its FIMA repurchase programs. The Japanese government and GPIF collectively hold about $1.37 trillion in US Treasuries. This plan is essentially the Federal Reserve printing money, which will lead to a surge in dollar liquidity and is positively correlated with the price of Bitcoin.