Scott Bessent is an expert
The more information that will come out about Biden’s administration, the more any sane and truth-loving human being, whose sole bliss is found in the discovery of exact facts, the more you’ll realize that Janet Yellen was on a path to bankrupt the United States of America and to dismantle its ability to borrow funds utterly.
Scott Bessent is the most gifted Treasury Secretary, not only of the United States of America, but anywhere in the world, at any time and of any nation.
After him, it would be tough to replicate the pedigree and achievements he has scored. Still, it is not a stretch of the imagination to envision a future with Bill Ackman as Treasury Secretary or another outspoken hedge fund manager, with patriotism running in his veins.
There is a revolution in the United States of America, by which the country’s top-level talent finds personal satisfaction in running the White House, not a tech company.
Think of Elon Musk, an entrepreneur that in the past 25 years has:
- Revolutionizing Electric Vehicles
- Advancing Space Exploration with SpaceX
SpaceX achieved reusable rocket technology, slashing launch costs by up to 30% compared to traditional rockets.
- Developing Neuralink for Brain-Computer Interfaces
- Scaling AI with xAI and Grok
- Reshaping Social Media with X Corp
He has been willing to spend the past year of his life away of his pursuits in the commercial sphere and save humanity.
Why is that? The answer is that the new class of winners is DRAWN TO government, since what drives these individuals is efficiency. They simply can’t sit idly by and watch clowns and idiots in Washington. It insults their intelligence.
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Janet Yellen brought insanity to the bonds market, by refinancing debt at short-term rates, thus creating a giant obligation for the next Treasury Secretary, in order to play with reality.
She is a nutjob.
Courtesy: Zerohedge.com
The dollar was artificially high because of her actions and those of FED Chairman Jerome Powell, who needs to begin cutting interest rates already.
What the markets are pricing well before Powell actually acts are rate cuts.
When the Chairman of the central bank is adamantly opposed to cutting too soon, yet Scott Bessent is saying that Powell is already behind the curve, you bet I side with Bessent.
Markets fully price a cut by July, which means the bear market in stocks has two months to go, at least.
But what is the main purpose of Trump’s dollar strategy? How does the government turn this ship around?
The broad economic plan for the United States ends its currency-printing era and makes the dollar less of an international medium of exchange.
The dollar index is already falling, but it can go even lower in this cycle because Washington’s shrinking national debt would entail reducing the overhang of interest payments. To do that, it would be ideal to refinance the entirety of the debt at least half a century into the future.
A weak dollar would hurt the world and help Americans.
That is the genius.
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