Wall Street and London Sow Panic—But Scott Bessent's Secret Plan Is Crushing Them

0:00The 40 trillion US debt and what's being

0:03called a bond market explosion are the

0:05hottest news in the financial press. It

0:08looks to me like creating a financial

0:10panic is the next phase of the plan to

0:12destroy President Trump ahead of the

0:14midterms. But Scott Bessant has a secret

0:17plan to crush the speculators. Here's

0:20Bessant talking about the debt on

0:22Thursday.

0:22>> The 40 trillion is a big number. And

0:24remember, we did not get here in a day

0:27that we were left with a mess. The Biden

0:30administration had the highest deficit

0:32to GDP in history when we weren't at war

0:35or weren't in a recession. For 2025, we

0:39brought it down by more than a percent.

0:41>> And here's JD Vance Thursday talking

0:43about what he called Scott Bessant's

0:46discreet plan to deal with it. The other

0:49thing is that Scott Bassent, the amazing

0:51Treasury Secretary, he has had a very

0:54discreet plan of course supported by the

0:56president of the United States to get

0:58the United States to a point where our

1:01economy is growing faster than our debt.

1:03And if you look, we are on track. So

1:06even though the debt is too high, even

1:08though we inherited this debt bomb from

1:09the Biden administration, we actually do

1:11have a plan to get the economy growing

1:14faster than the debt. And that's the

1:16most important thing. Now, if you're a

1:18Wall Street banker or a City of London

1:20financial predator or a current

1:22Democrat, you think this is crazy talk

1:25from a snake oil salesman. But if you're

1:27honest, you really do have to wonder why

1:30Trump's economy keeps proving all of

1:33your predictions absolutely wrong. I'm

1:35Barbara Boyd and I've studied the

1:37American system economics Trump and

1:39Bessant are implementing since the

1:411970s.

1:43Today, we're covering three fronts in

1:45the same story. First, Scott Besson's

1:48secret plan. Second, why this plan is

1:51like Alexander Hamilton put on steroids.

1:55Finally, why the global elites will

1:57never figure out what Trump and Bess are

2:00doing to them. Now, Scott Besson's

2:02secret plan to deal with the debt and

2:04inflation is as old as Alexander

2:07Hamilton. Issuing credit for productive

2:10purposes through a sovereign wealth

2:12fund, special government funds, or the

2:14banking system is noninflationary and

2:17even deflationary. If credit funds hard

2:21commodity output, new infrastructure,

2:24technological development, and the new

2:26inventions and discoveries which exist

2:29on the frontiers of present science,

2:31there's no inflation. That credit

2:34doesn't chase existing goods with new

2:36money. It expands the goods available so

2:40prices don't rise. Not only that, the

2:43upskilling of the labor force necessary

2:45for this new economy increases the

2:48productive powers of labor. Here's the

2:51Treasury Secretary saying just that.

2:53>> That our strength, in other words, is

2:55derived from what we can build. For the

2:58nation that cannot produce what it needs

3:00is not truly secure. And the nation that

3:02reduces its economics to consumptions is

3:06not truly prosperous. Instead, as

3:08Hamilton put it, it is essential to

3:11enlarge the sphere of our domestic

3:13commerce because economic security

3:15begins at home. It begins with the

3:17capacity to build, invent, finance, and

3:21scale the industries that will define

3:22the next century. among them

3:25semiconductors, AI, quantum computing,

3:29advanced manufacturing, ship building,

3:31critical minerals and pharmaceuticals to

3:34name only a few. More than sectors of

3:37the economy, these are sources of our

3:40national power and America must lead in

3:43each of them. In today's economy, supply

3:46chains are the domain in which that

3:48leadership is tested. Yet for years, the

3:51question that seemed to consume both our

3:53political and commercial class was where

3:57is the lowest cost?

3:59>> There's even more. Up until now, who got

4:02credit and who didn't was largely

4:04determined by Wall Street's dominance of

4:06the Federal Reserve, but now Scott

4:09Besson is putting that credit oversight

4:11role back where it belongs, with the

4:14president and his Treasury Secretary.

4:16That's what his recent interventions on

4:19behalf of Japan's currency and in

4:21support of US Treasury bonds is all

4:24about and why the speculators are

4:26screaming. At the same time, Kevin Wars

4:28is cutting the Fed down to size and

4:31figuring out how do you measure real

4:33growth in an economy. That measurement

4:36is not the sum of Wall Street

4:38speculation on a given day or any other

4:41measure for economic activity the Fed

4:43currently uses. Inflation happens when

4:47credit is diverted into things like Joe

4:49Biden's COVID relief program and Joe

4:52Biden's build back better service and

4:54green consumer economy. It's directed at

4:58providing handouts and funding services

5:00or production which do not advance the

5:03economy to a higher level of

5:04productivity. The other cause is the

5:07Fed's constant bailouts and asset

5:09purchases to keep this and similar

5:12financial schemes going. Since neither

5:14expands productive activity, they drive

5:17prices up. The models being used by Wall

5:20Street and London don't have a box for

5:23how does an economy grow out of its own

5:26debt. They only have boxes for spending

5:29less or taxing more. So when Besson

5:31proposes a third option, growing the

5:34productive base until the debt shrinks

5:36next to it, their spreadsheet just

5:38doesn't compute it. What they keep

5:41forgetting is that Scott Bessant teaches

5:43economic history and is always bet very

5:46resourcefully against them, and he's

5:48pulling a 200-year program off the

5:51shelf. Now, if this is new to you, you

5:53can learn a whole lot more about the

5:55real factors driving the economy by

5:57subscribing to our free newsletter at

5:59prometheianaction.com.

6:01Both Besson and JD Vance keep referring

6:04to Alexander Hamilton as their guy,

6:07freaking all the field economists

6:10totally out, but Hamilton is the

6:12greatest economic revolutionary in

6:14history. Unlike Karl Marx or Milton

6:17Freriedman, his revolution worked. After

6:20the Revolutionary War, our new nation

6:22was flat, broke. The new states and war

6:25veterans were demanding payment on what

6:28were essentially worthless I use.

6:30Hamilton paid off the old war debts,

6:33state and federal, at full value using

6:36government bonds. The bonds were longer

6:39term, paid interest from tariff revenues

6:42dedicated to paying them, and they were

6:45tradable. Then he built a national bank

6:47and allowed people to use their bonds to

6:49buy into the bank, which financed only

6:52real production, merchants, tradesmen,

6:54factories, infrastructures, inventions.

6:57That's the same principle Scott Bessen

7:00just talked about. making sure the

7:02credit exists to fuel productive growth,

7:04which is the only real purpose of

7:06credit, not money, falsely disguised as

7:10credit, and magically producing more

7:13money with no production supporting it.

7:16You can go to the White House web page

7:18and read Scott Bessant's secret plan.

7:20It's there, spelled out publicly in the

7:23president's executive orders to rebuild

7:25our economy. They bring back our

7:28industrial and manufacturing base which

7:30Wall Street and London shipped overseas.

7:32And they bring it back on a new modern

7:35platform. They also launch the economy

7:38of the future involving large scale use

7:40of nuclear power and revolutionary

7:43fusion power. You'll also see the plans

7:45for a colony on the moon by 2028 and

7:48crash funding for new breakthrough

7:50science and technological discoveries.

7:53Now, competent economists will tell you

7:56that for every $1 invested in advanced

7:58scientific programs like the Apollo Moon

8:01program, the economy gets 8 to10 back in

8:05economic output. This is the stuff the

8:09mainstream media doesn't want you to

8:11know or think about. But I'm sure

8:13Alexander Hamilton, sitting in his

8:15rightful place now, is smiling down on

8:18us in approval. Now on Thursday, Vice

8:21President JD Vance went to Miltown,

8:23Ohio. That's his home. And he made a

8:25fireb breathing takedown of the free

8:27trade finance based on his own

8:30experience. Listening to the whole

8:32speech will fire you up and I think make

8:35you very happy. But here is the vice

8:37president talking about the deliberate

8:39free trade policies of Wall Street and

8:42London which wiped out his hometown.

8:44They said it was irrational,

8:46sentimental, old-fashioned to want to

8:48preserve the things that make the United

8:50States of America special. What we

8:53really needed, they said, was to compete

8:56and have complete market integration

8:59with every nation in the third world.

9:01Places where you could pay wages at

9:03pennies on the dollar, but didn't have

9:05to give your workers health care or good

9:07benefits in the process. And anytime

9:10somebody dared to put an obstacle in

9:13front of that set of ideas, anytime they

9:15said, you know what, we need to put

9:17tariffs or tough immigration policies to

9:20stop that. Those people were called

9:22backwards. They were called wrong.

9:24>> And here he is talking about the death

9:26of despair in his hometown, which

9:29followed that.

9:30>> Economists have measured the ways in

9:31which the opioid crisis exploded in the

9:34very locations where jobs were shipped

9:36overseas. They opened borders demanded

9:40by those same people. Brought some

9:42innocent people. Of course it did. But

9:44we also know that it brought a lot of

9:46cartels. It brought the fentanyl trade

9:48and it left us with millions of orphan

9:51children being raised by grieved

9:54grandparents. That was the story of

9:56course of my mama and papa.

9:59Now the blood of these men and women,

10:01these so-called deaths of despair. I'm

10:03sure you've heard that phrase, but it's

10:05almost too abstract for me because the

10:07blood of those people, in my view, it

10:10pulls at the feet of those who would

10:12sell out their country for a cheap

10:14bottom line.

10:14>> And then he says, what's happening under

10:16Trump with trillions of investment in

10:19production, new factories being built

10:21all over the country, and manufacturing

10:24wages rising along with hiring. And he

10:27is able to make this dramatic

10:28announcement about the future of his own

10:31hometown. And that brings me to why I'm

10:33here today. Because we're not just here

10:35to talk about the celebration and the

10:37good news and the numbers. We're here to

10:40announce that Cleveland Cliffs is making

10:43today, right here in Middletown, Ohio, a

10:46$1 billion investment in

10:49transformational manufacturing right

10:50here in our home.

10:52>> Now, the elite free traders who gutted

10:54Middletown are the same people who said

10:56tariffs would create inflation. The Iran

10:59war would create a paralyzing oil shock.

11:02Halting illegal immigration would create

11:04a massive labor shortage. They've been

11:07wrong every single time because they

11:10don't understand real economics. Their

11:12models and measurements are for a world

11:15where resources are fixed and prices are

11:18endlessly manipulated on that basis.

11:20That's the world Donald Trump is driving

11:23out of existence. If the vice president

11:25keeps giving these kinds of speeches and

11:28the president and Scott Besset keep

11:29implementing Hamilton's policies, the

11:32midterms will be theirs. Getting this

11:35message out widely will make that

11:37victory possible. That's our job at

11:39Prometheian Action and I hope you can

11:41contribute as much as you can to help us

11:44grow. This has been your Saturday rap.

11:47Thanks for listening.