“Why would I want to blow up the global financial system?” Treasury Secretary Scott Bessent said during a press conference earlier this week, while discussing Iran. In our history, no president or White House would deliberately hurt the global economy, right?
However, some believe Treasury Secretary Bessent and President Trump have harmed both our economy and the global economy through self-inflicted errors. The U.S. Bond Market is making headlines this week.
Billionaire investor Stanley Druckenmiller blasted Bessent in a Wall Street Journal op-ed. Druckenmiller’s column, “Let the Bond Market Speak,” set off alarms.
The respected billionaire said that Bessent’s bond market maneuvers are not the way to fix bond yields, that his efforts will fail, and that it will give allies another reason to lose trust in America.
Stephanie Ruhle tried to explain why Druckenmiller’s op-ed was a big deal:
Self-Inflicted Errors
According to reports from MSNow, the Trump administration has made multiple self-inflicted errors:
“Last week, yields on the 30-year Treasury bond reached a 19-year high. The administration took notice, perhaps because higher bond yields usually mean higher borrowing costs at a time when voters are already furious about the cost of living.
Bessent’s solution was to intervene in bond markets by increasing the size of debt buybacks. But yields dropped for only a day before returning to their previous level, reflecting investors’ broader structural fears, including over the $40 trillion national debt.”
In addition, Trump is trolling Canada, and putting tariffs on the nicest nation in the world.
Trump and his MAGA Attorney General Todd Blanche are trying to suppress mail-in ballots for the midterms
The list is so long that it would take pages to lay out all the ways the Trump team is committing self-inflicted errors. Some consultants even believe Bessent and Trump are crashing the world economy on purpose.
Crashing the Dollar on Purpose?
One Substack creator with DoD and Corporate Intelligence background calls Bessent a “currency killer."
@TheLeahFiles explained why she was so hard on Bessent:
“To explain is what I found behind the numbers: a system that appears designed not just to weaken the dollar, but to profit from the weakening. And the man running it has spent forty years doing exactly that to other countries.”
But the Substack creator made a troubling table that’s trending this week on many news sites about warning signs of currency collapse.
I'm not a currency expert, but the moves Bessent made this week seem NOT GREAT.
