by David Haggith
GoldSeek
While I generally lean away from conspiracy theories and certainly don’t want to risk creating one of my own that turns out to be wrong, I couldn’t shake a couple of dark thoughts last week:
1) There is no way the nation’s new Treasury Secretary, Scott Bessent, and those working with him could not know that trashing all trade around the world would trash the US dollar as the global TRADE currency as well. Greatly reduced trade on a global scale means greatly reduced need for a trade currency. Therefore, much less demand for the US dollar, especially when all the currency troubles originate from US actions. It’s really as simple as that.
That also had to mean greatly reduced demand for those US money bags we call “Treasuries,” which banks actually use to move the currency that moves the world, and that could even crash the national debt. How did Bessent & Co. not see the risks of that immensity coming when I predicted this as a likely outcome back in January, before Trump was even inaugurated, based on what he promised to do with tariffs? Bessent, after all, oversaw a big hedge fund that traded Treasuries all the time. So, how could he not see this was coming from the hugely broad tariff war he was planning with the president?