He has some form in currency markets.
From @SuitablePolitic on X, April 6:
Bessent was hired to strengthen the dollar by doing the opposite of all the warning signs he saw in the British Pound.
Inflated housing markets, treasury yields, etc. all pointed to the big short that the Soros fund pulled off.
Bessent's obsession with the prices of homes and the interest rates on treasury bonds isn't just rank populism.
He's looking to strengthen the leading indicators of a currency.
This is what I mean by "white hat hacking" the dollar.
Mapping out its vulnerabilities to protect it against future exploitation.
One of the most glaring vulnerabilities was a heavily overinflated trading market. Wall Street was on a sugar high.
Hedge funds were leveraged to the gills, and if that bubble popped, it would have created an 08 style financial crisis.
The tariff roll out... volatility and all... was a way of creating controlled detonation.
Wall Street FREAKED OUT and deleveraged themselves.
Now, there won't be any banks or hedge funds who can't afford to pay off their loans because they overlevered.
The extreme tariffs are also coming at a time when Bessent sees a recession or depression happening in China. He emphasized this several times with Tucker.By boxing in China and shutting down their exports, he's creating the same conditions that led to the big short of the British Pound....
....MORE
I don't know about the "...hired to strengthen the dollar" bit but as for the rest of it, the Chinese Party, government and technocrats really don't want a forced devaluation of the yuan.
Possibly also of interest:
