IS BESSENT KILLING CHINA’S CURRENCY? The backstory of why Scott Bessent was President Donald Trump’s Treasury Secretary begins with the fact Bessent’s early career included time in 1992 with the Soros Fund Management team that broke the Bank of England.

The ever-observant Rod Martin sees the huge significance of that otherwise little-noted fact in the context of U.S.-China relations:

“Presidents hire people for a reason. Trump did not put Scott Bessent at Treasury because he needed another Wall Street résumé. Trump hired a man who had helped break a major currency from the inside, who understood the role of confidence, leverage, capital flows, interest rates, debt, and political denial, and who knew that governments do not lose control of currencies because traders are clever. They lose control because reality finally catches up with the lie. Bessent is not incidental to Trump’s China strategy. He is one of its central weapons.”

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