The Deeper Dollar: Evidence of a White House Conspiracy to Collapse the Dollar

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by David Haggith, Gold Seek:

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.

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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?

2) Scott Bessent started down the road to billionaireville through working for globalist George Soros exactly when Soros crashed the British pound and made his first billions, too. The British pound, of course, was the global trade currency that preceded the dollar, and so, Bessent and Soros helped finalize the loss of the pound’s global reign. In short, Scott Bessent knows how to make a world-class fortune by crashing a global currency. He’s actually one of the best at it.

Since Bessent almost had to see the troubles coming for the dollar and Treasuries that dominated financial news for the last two weeks, I had to wonder if he and his billionaire boss/mentor decided it was time to crash the biggest of all global currencies and become the world’s first trillionaires by finding ways to short the dollar or bet on its alternatives. What better way to work that out than by getting right into the very heart and brain of currency control for the global currency?

Of course, hitting Bessent with guilt by association over his deep ties with Soros, one of the world’s major architects in global unrest and currency takedowns, is a logical fallacy. So, while it begs me to ask whether Bessent is at it again, it also begs a lot more research to see how many arrows might be pointing in that direction.

What I found over the weekend looks truly dark for the dollar. In my search, I’ve dislodged a lot of non-trivial facts that lead me to wonder all the more seriously if US Treasury Secretary Scott Bessent and a small number of collaborators in the White House are actually trying to collapse the US dollar.

He’s sooo Soros

Let’s start, however, with Bessent’s Soros connection because of what the facts reveal about Bessent. Soros is a man so infamous among conservatives for driving wedges into democracies to bust them open, I probably don’t need to say anything about him. Democrats, on the other hand, know Soros as a major donor. I’m not going to use Bessent’s association with Soros as evidence that Bessent is up to the same thing again, but to lay out how skilled and willing and ABLE Bessent, himself, is to engage in currency crashing when he sees the troubles a currency is already in. In fact, it looks like Bessent was more the lead on the pound’s takedown than either Soros or the storied billionaire who more famously aided Soros in that task, Stanley Druckenmiller.

Before he founded Key Square Group, Bessent was a partner at Soros Fund Management, a company that, among other things, widely invests in sovereign bonds.

In the week leading up to September 16, 1992, or “Black Wednesday,” Quantum Funds [which Soros co-owned with Jim Rogers] earned $1.8 billion by shorting British pounds and buying German marks. This transaction earned Soros the title of “the Man Who Broke the Bank of England.” On the other hand, British government policy in the period before the ejection of the pound sterling from the Exchange Rate Mechanism of the European Monetary System had been widely criticised for providing speculators with a one-way bet. (Wikipedia)

Bessent was the head of Soros Funds’ London office, where the shorting the pound was orchestrated. So, he was directly in charge.

In this role, he was a leading member of the group [Quantum] that successfully bet on the 1992 sterling crisis, generating over $1 billion in profit for the firm. (Wikipedia).

The company Bessent founded after leaving Soros Fund Management, Key Square specializes in using geopolitics and economics to make macro investments. So, working the geopolitical angles, just as Soros has always done and continues to do, has remained Bessent’s own modus operandi. Moreover, Bessent’s new company began with a $2-billion anchor investment by George Soros. So, the two remained connected in business at the hip by Soros’s blessing. This is more than an association. It’s essentially a partnership.

Key Square has lost billions in assets under management in recent years through bad investments that have caused investors to pull out, so one might reasonably wonder if its founder was ready to return to the kind of plays that made him and his mentor their original billions. For whatever reason, he got out of Key Square. In 2018, he returned Soros’s original investment as was provided for in a pre-arranged deal, and took aim at becoming Treasury Secretary. That was when Bessent announced he would sever ties with his own rapidly declining company, possibly good timing to sell while it still had appreciable assets to manage of around half a billion (from its high of over $5 billion).

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