Scott Bessent pens an op-ed in the FT begging the world to figure out how to reduce their dependency on the US financial system.
https://www.ft.com/content/cb865200-1a06-40be-86a3-10ee2bb05804
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But enough about Europe's approach to the Trump administration, what are we going to do about Iran?
It's fascinating to me that more hasn't been made of the fact that Bessent made his career out of working for Soros. And not just because "Soros is evil" is the right's favorite anti-semitic dog whistle.
@airspeedswift his incompetence during those years has taken center stage
@Migueldeicaza I dunno if he was incompetent, I think he was mostly an administrator, with Soros+Druckenmiller making the calls. Then he launched his own fund which tanked confirming he wasn't actually a trader himself.
Supposedly his one insight at the time was that the govt would have to cave because UK doesn't do fixed rate mortgages so brits couldn't handle higher rates.
Here we have them but the american public _also_ can't handle higher rates because house prices are levered to fuck.
