By Pam Martens and Russ Martens: November 25, 2024 ~ Last Friday, in a flurry of announcements of cabinet nominees, President-elect Donald Trump dropped the name that the entire world had been waiting to hear: his pick for U.S. Treasury Secretary. The man Trump chose, Scott Bessent, is the founder and majority owner of the hedge fund, Key Square Capital Management LLC. If confirmed by the Senate, Bessent will inherit sprawling powers. He will sit at the helm of a federal agency that includes the IRS; the Office of the Comptroller of the Currency, which regulates national banks and reports on their hundreds of trillions of dollars in derivatives; the Bureau of Engraving and Printing; the U.S. Mint; the Financial Crimes Enforcement Network (FinCEN) which is tasked with combating money laundering but has failed miserably in the job; and numerous other units. In addition, legislation passed by Congress will put Bessent in charge of … Continue reading Donald Trump’s Treasury Nominee Made Big Bets this Year on Chinese Stocks and a Big Short on the U.S. Market