At The Economic Club of New York’s gala marking America’s 250th anniversary, Treasury Secretary Scott Bessent unveils a five-pillar framework for “economic statecraft” — tying trade, supply chains, and financial leadership directly to national security. WATCH:
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Building national capacity to manufacture domestically
Demanding reciprocity in trade
Writing global rules on trade and AI
Maintaining dollar dominance
Ensuring average Americans share in the prosperity
All key points. The global rules on trade and AI requires people sitting at the table.
Dollar dominance, the debt is a huge problem.
Americans should share in the prosperity but only if they have participated in that process.
Thank you for that summary. I knew I’d never find the time to watch.
I’m concerned about the new dollars created to lend out through the Ex-Im Bank, etc. Is this not just more debt?
I am not familiar with that scheme but it sounds like more debt to me. Someone with knowledge may correct me if I’m incorrect.
Susan Kokinda’s video from yesterday at Promethean Action offers some info.
Thanks.
Yes, but one thing to note about her & her dyed-in-the-wool allegiance to LaRouchite politics is her great love for FDR & his immense federal borrowing to pay for huge infrastructure during the Great Depression.
To her, that’s not “borrowing”, it’s “investing”. So how, exactly, will this give a “ROI” back to the taxpayer??
She should read Amity Shlaes’ “The Forgotten Man” to learn that FDR’s Treasury Sec., Henry Morgenthau, Jr. told Congress in 1939 that all the historic, massive $ FDR spent did not work.
Correct a number of economists and historians feel FDR prolonged the depression. At that time we came very close to becoming a totally socialist/communist country. The New Deal transformed politics forever.
… oh nevermind
I’m gonna do some investigation. I know that P. Trump has sought to “invest” for the American people with shares of Intel & some other re-shoring firms, but I’m not 100% happy with it.
I’ll repost when I get some definite info.
But the members of Congress “invest” in America all the time….
Just sayin….
Yes, Kongress has built an incredible business doing Laundry type operations. ROI is fantasiic!
It is OK if President Trump is doing it, but the next guy or the next will poison it. Government needs to get out of picking winners and losers. The free market works best.
Inspiring speech, but I couldn’t help but think about the communities that are being destroyed by massive data centers, which he says we will protect, and the mention of stablecoin and tokenization. What changes of our relationship to our money is underway? There is also the underlying stain of Global human trafficking, that touches all businesses, transportation, governments, NGO’s and politicians. How will this new paradigm, which this country desparately needs, as well as the rest of the world, thrive and prosper when there is rot at its underpinning, which all of the above continue to protect?
The method for the common people gaining financial independence is already out there. However, just as it was when the car was invented. It took 20+ years before the horse and buggy was no longer seen on the road.
I live in Amish Country. I see them all the time.
I knew someone would bring-up the isolated Amish case. Lol
I wonder how long the Amish would have lasted in Iran?
The Amish have been in US for 300 years and have changed little. God, family, self sufficient and honest.
Yes and boring as all hell.
However, if it works for you and how you like it for yourself….then all the more power to you.
And the Amish never experienced an outbreak of covid since they don’t have TV.
The dollar is going digital whether we want it or not. Most people including myself enjoy the convenience and safety of a digital currency and transaction.
Even where I am at UTC+8, 70% of transactions are digital.
I’m a cash only person. What say you?
I’m not. I use cash when needed and use digital when I can.
We tip with cash. Never on the credit card or those point of sale gizmos.
I agree with that. I also tip with cash.
Me too..the CC people take as much as 3% plus the IRS folks are always watching
Use cash wherever possible just to keep legal tender in use.
Cash and pay my monthly balance on credit cards.
I’m an either or .. depends on the purchase … somehow I manage to blow threw my monthly walking cash every month.. I need a raise ..
Cash and checks the majority of the time…
Digital monetary transactions and digital currency are two different animals.
One can be turned off by the gov if they don’t like what you buy or what you say. Total government control.
The other is a convenient way to not have to carry cash for every transaction but you can still use paper cash that the gov cannot turn off and it has no control over your money or how you spend it.
It’s a fine line. How you get your cash could be blocked as well.
I consider it digital if I never see cash or write a check anywhere along the transaction line.
That’s why you build a stash … not too much just some
Beware of the coming Quantum fast computer threat to digital currency security codes.
If it happens, Cash will be King.
There are no communities being destroyed by massive data centers! That’s a social media narrative and pure propaganda. First, data centers are valued at hundreds of millions of dollars and pay enormous local school and county property taxes while using no local government services like…
A: No kids in school
B: No welfare $$$
C: No police
D: No EMT
E: No health $$$
F: No social services
Data centers are no more intrusive than a Walmart or Amazon facility. They are typically built in areas zoned for commercial development not residential.
Uhm. I live 6 miles from one of the largest data center campuses in the US and the site of a garrillion $ Intel fab development.
While I agree with most of your points, all of these construction projects have received 20+ year property tax abatements. So while they drain little from local tax payers so far (modest police and fire expenditures), they do NOT contribute to the local tax base.
Sure, there is an argument that the value of my house has gone up due to all the west coast libs that have moved to town, but how long until they advocate for troons in schools and higher taxes to support Pajeets extended family?
Small inconvenience. But I’ve also had to replace two car windshields cracked by rocks falling out the back of dump trucks heading to the Intel site.
Oh yeah. Almost forgot. Everytime Bezos or Zuckerberg fires up another node, my power glitches. Had to replace the electronic unit to my fridge. That was $300.
From what I’ve read Amazon and Alphabet build their own power plants for their data centers.
That’s a local issues communities compete for the jobs. The calculus is its a net gain or it ould be corruption. In either case it is strictly a local issue the easiest kind for small numbers of locals to fix.
Do the municipalities offer the property tax abatements to the data centers to gain the income taxes and property taxes of the employees relocating in for the jobs?
Here in south eastern Ky, they are taking farm land. Also they have to have fresh water???? What happens to peoples wells? And from what I’ve been reading it’s going on in back room deals, in the dark. Why isn’t it being transparent if it’s so good?
They can use closed end cooling systems just like your car. If they do use water then that water goes in, cools off the exchanger and then goes right back out. A lot of data centers out west are located near rivers for that purpose. So in theory they don’t use water.
Then why locate on a river.. even nuclear power plants have their own water recovery ponds.. no need when on a river
Probably cheaper?
They “can” use zero consumption solutions – but the majority of them do NOT.
https://www.businessinsider.com/how-data-centers-are-deepening-the-water-crisis-2025-6?op=1
https://www.consumerreports.org/data-centers/ai-data-centers-impact-on-electric-bills-water-and-more-a1040338678/
true, but when water is used to cool “exchangers” it evaporates… a lot
As a pipe fitter and HVAC guy, I was wondering why they couldn’t use a closed loop geothermal system. The solution in the system recirculates and cools off by piping running in the ground or a pond. Around central Ohio ground temperature is about 56 degrees and a good medium to dissipate the heat.
Maybe it has to do with scale.
Go read Alexandra Fasulo’s Substack, and get a good look at the largely FOREIGN COMPANIES bribing local gov’ts with $$ & requiring hidden NDAs, not accountable to citizens, taking fertile farmland by eminent domain & covering them with solar panels, ad nauseum, in Upstate NY.
Upstate New York needs all the data centers it can get! Those small towns have zero tax base to pay for police and schools. Most of farms are tax exempt.
Did you read her Substack? About the eminent domain theft of farms? About the sneaky NDAs and other non-public sales, and what the local pols did to disenfranchise the citizens’ concerns?
Or did you just flash off a reply without having read anything??
Make that all of rural NY. Not to mention the monstrosity of windmills going up! Recently our power went out for over a day this month. This has never happened before, for that long, including winter storms. Is it all related…my guess is yes!
The water in data centers is in controlled loops like a decorative fountain in a lake. The water is reused.
Not all of it. There are some residual chemicals that need further filtering.
All of this should be discussed and fully explained, documented, and with several public meetings for the public, to ask questions until fully informed, and then VOTED ON BY THOSE AFFECTED.
Tell me about these data centers when your water is restricted or your rolling blackouts start.. Many of the Walmart and most of the Amazon properties have 30 year abatements from the local municipalities to avoid school, county, city or hospital tax .. do you really believe Amazon pays federal or state property taxes on all this EV running around ..? As a retired Fixed Asset coordinator I’ve seen lots of abatements unjustifiably given over the last 15 years to sell an ineffective political policy (think green) just to have business … have an Amazon facility near me that sat dormant with vehicles for 7 years .. that’s why people yell about fair share taxing.. some do pay fair share most don’t
Not mentioning the selling out of the USA by traitors in congress to a criminal foreign entity:
And most do nothing against it or censor those who call for action:
Congress Is Preparing to Surrender American Sovereignty on the Eve of America’s 250th Anniversary
https://kucinichreport.substack.com/p/congress-is-preparing-to-surrender
Take Action to Defeat a Dangerous Expansion of the National Security State, Military Power Over Civilian Government, Foreign Policy Entrenchment, and the Erosion of Constitutional Self Government
TAKE ACTION
Find your member of Congress:
House Senate
It is urgent that you call your congressional representative today at 202-224-3121 and tell them to Strip Section 219 (House) or Section 1217 (Senate) from the 2027 NDAA.
Congressmen Tom Massie (R-KY) and Ro Khanna (D-CA) will offer an amendment in the House to remove Section 219. Please tell your U.S. Representative: Support the Massie-Khanna Amendment to the NDAA.
Not sure what you’re thinking. I would NEVER be in favor of anything liberals like massie or Shanna. Not those commies. They hate USA.
“Criminal foreign entity”? Got proof? Like a court conviction? Or just Jew-hate?
And while I’m opposed to section 219, you promote this thru far-left Dennis Kucinich’s Substack??
Who are you??
Exactly! Criminal foreign entities are building data centers in rural areas of the United States? I find that hard to believe.
Well Massie-Khanna that sells me right there/s
These sections do destroy our sovereignty. I wish folks here would actually research the sections vs. blindly dismissing them due to the amendments being proposed by Massie-Khanna.
I think he explained that. By rebuilding the systems for American first we all benefit. Like Bessent said, don’t go by the media spin.
They hate everything.
Why do I see the threat of national data centers as hype. First off it’s local zoning and compliance.issues if anything if your local politicians are being rolled then replace.them not a national issue
Second the Data centers must stop crowd if successful will put us back to dial up. The data centers do more then AI chats. They are where searches are routed where stream services live where the treehouse is routed to your computer.
The resistance groups are being funded by the Chinese and the left. They have no use for truth only propaganda. Pitting us against.each other has been their most successful strategy.
If you have any form of manufacturing near you they are noisey. Water like beer is borrowed not used and cooling water is the ultimate in regeneration. Like the giant “smokestack” cooling towers of nuclear power No Smoke just mirrors.
Electrical rates are determined by the public service commissions in each state. Once upon a time these were captured by the utilities. They were long ago captured by the greenies ( Rush’s Watermelons) here in Michigan we are still building windfarms required by renewable energy production goals. Requirements by the PSC. My bill even has a. Charge for decommissioned and demolition of existing oil fired plants. Not conversions mind you demolition.
How politically convenient to blame all the woes on something people are unsure of and do not truly understand.
Exactly! ANTIFA and the DSA are rallying after data centers to punish Elon Musk, Jeff Bezos, Sundar Pichai and other big tech billionaires for working with President Trump!
Stable Coin is a good idea. It will be backed by the dollar and will be as strong as the dollar.
What is BitCoin. It is a line of code backed by the next guy willing to buy it. As more is created they will need more and more suckers and use more and more power. All you BitCoin holders need to sell your seed corn so you are working on the House’s Money.
I think of the dreaded data centers the same way people thought about the spread of railroads across the continent in the 1800’s. There are winners and losers in where they go, there are people of extreme wealth getting wealthier, and in the end, they are (will be) a net positive for the nation as a whole. There are 3 issues that any community can and should address when faced with a railroad (data center) coming to their area. They are water, power, and noise. Water has already been addressed by the use of closed loop cooling systems. Power can be addressed by requiring the data center’s power to come from “their side of the meter”. Noise reduction requires even more work by the data center owners but it has been established that the noise factor can be reduced to 40db – 50db at the perimeter of the data center property. Far, far quieter than your neighbor’s yard crew on Saturday morning! So we can either push the railroad so that it goes to some other town and our town withers and suffers. Or we can embrace the challenge with all its warts and through legislation and community activism force the owners to do it correctly. But it certainly seems to be the future whether we want that “iron horse” or not.
To paraphrase Bismarck: “ECONOMIC POLICY is Diplomacy by other means….”
Our Secretary of the Treasury continues to integrate national strategic strategy into our economy policies and implementation with AMAZING PROSPECTS in ways never seen in our lifetimes!!!! 🙂
What a great speech. Nailed it.
There’s globalists cringing all over the world after that speech. Too bad. Wait until the factories currently under construction are up and producing. The fed will be forced to lower interest rates and middle America will again gain prosperity like never before
Off subject, but what password do you use to get on protected posts. I use mine and it doesn’t work.
Request it via the link-at top of the page
I tried that and didn’t get a response.
mine don’t work either
Same one always works for me check capital first letter or not
That was incredible.
I’m so grateful President Trump has the knowledge to enable our country to be strong again, hopefully never again to be dependent on anyone. I doubt many see the work he’s put into rebuilding our financial security. If you have children, this is extremely important to hear.
Yep but it will take some upheaval on those who want to make income but don’t want to work for it. America was strong when we had a productive society. Jobs were everywhere. One didn’t need to go to college to get a job.
“make income but don’t want to work for it”…like our legislators?
“Jobs were everywhere”…we were warned in the mid eighties I believe, that the idea of a ‘job for every American’, would become an obsolete idea….it was around 2008, that I realized just what they meant by that….
The economy and also, health care issues/changes…were long planned for.
I wonder if George Bush Sr said that? It doesn’t sound like something President Reagan would have said.
I too started to notice changes in the mid-90’s. The government schools were already graduating their first batch of subjects. Rush used to talk about that cradle to grave entitlement.
Zero’s sorry ass said that.
obamma’s impact has been horrible for Americans. He is truly evil.
Let’s agree to never again elect a president who hates America.
Bessent is a decent communicator and an excellent secretary.
This is all good.
SUNDANCE How would the average American get in on a piece of this action.
HAVE A 401K However if 2028 goes like 2020 it can be stolen just like 2008.
I do not have the required $250,000.00 to get in on an aggresive IPO.
My house doubled in value thru Obidens first 6 months in office. Thanks Blackrock taxes doubled. Currently several homes in my area have been for sale at county appraisle value for over 9 months.
It seems as though the rich are still getting richer our debt still soars. None of this is Trumps fault as prophecy must be fulfilled before it gets better.
Any tips on how to enter the $ game will be greatly appreciated in fact I have $ 10,000.00 and will invest any way you see as a means for American prosperity. I will invest it and keep all your readers up to date monthly on how it works so they may also follow. Thank you GWA.
I’m not Sundance but I want to make a point here.
Your house value is just paper value. Only at the time you sell it and recoup the equity you own in it will you realize any profit or decline.
There are a number of low cost ETFs that you can invest in. Charles Schwab is a good place to research. Don’t stop with the $10,000. Invest each month with whatever you can. This is a long term process.
There are means out there. However, you have to search the internet to find what works for you. Look at what kids 8-11 years old are being taught as a starter.
Returns at .2 % returns does not seem like a very good return especially when they can simply loose the $. Doesn’t sound like any of what Bessent are speaking of. Isn’t there someplace I can take 500,000 out of my house invested into something that’s take 20% see my point there is no such thing if I had 50 million to invest I would be expecting a 20% return and would probably get it they’re just there no vehicles for the work man. I can go buy a 640 for John Deer at the Ritchie Brothers and double my money almost every time it’s just a lot of work for once I would like to make money with money, but that never seems to happen always seem to crash it somewhere and some other jackass ends up with it. That’s all I’m getting that as little people will never have the ability to earn money with money with the exception of IRA 401(k). That’s ignore the way if there is something, please let me know. I’ll use myself. As the fool and put the money up, let the others follow if it works maybe all the readers on this site have something to look forward to. That’s all I’m getting at. I guess I don’t speak correctly for your answer. Thank you.
You tell me where I can get a 20% return that is absolutely safe.
Periods and paragraphs.
I used the dictation. You made my point.
The system works for those connected.
The rest of us have to work for it.
Congress Is Preparing to Surrender American Sovereignty on the Eve of America’s 250th Anniversary
https://kucinichreport.substack.com/p/congress-is-preparing-to-surrender
Take Action to Defeat a Dangerous Expansion of the National Security State, Military Power Over Civilian Government, Foreign Policy Entrenchment, and the Erosion of Constitutional Self Government
TAKE ACTION
Find your member of Congress:
House Senate
It is urgent that you call your congressional representative today at 202-224-3121 and tell them to Strip Section 219 (House) or Section 1217 (Senate) from the 2027 NDAA.
Congressmen Tom Massie (R-KY) and Ro Khanna (D-CA) will offer an amendment in the House to remove Section 219. Please tell your U.S. Representative: Support the Massie-Khanna Amendment to the NDAA.
You’re taxes doubled because Obama and Biden funded the construction of Section 8 apartment then filled the apartments with Blacks from the inner city. So, your school district has hundreds of delinquent kids, your county is paying millions in welfare and your police force had to double in size.
And the sad fact is that a lot of that Section 8 housing built during 0bama is now in pretty sad shape. That type of housing never lasts long so it becomes a perpetual money pit but with taxpayer money.
It doesn’t last long in part because the buildings are not maintained (or destroyed by tenants).
No sect 8 near here black rock started buying $500,000. Homes for $1 million essentially doubling our taxes.
The subsidized housing in Chicago had 14 floors, 240 units with concrete walls and ceilings, asphalt tile floors. They were ruined by the occupants and eventually torn down. They were gang-infested hell holes on the near west side when I was a policeman in the 60s.
Bessent is sharp as a pin. We’ve got great people put in place by Trump to straighten things out.
Thankful for Scott Bessent who replaced the intelligent, sharp as a tack (like JB) Janet Yellen/s. Let’s not forget Tim Geithner or the snake in the grass Jack Lew.
Or the Prince of Evil, Robert Rubin. Glad he’s so old now.
Great speech; the right Secretary of the Treasury at the right time. Love seeing this and am enjoying that we have Cabinet members who are up to the fight.
Listening to the Sec. Treasury and seeing the actions of the other Cabinet members on farm, mining, manufacturing regulations and opportunities in these Trump Accounts for the newborn generations, am reminded of the posts and observations here during the Trump-45 Administration on changing the focus from Wall Street toward Main Street, and can see this reformating is actively happening.
I am an old codger, this is the first time in my life that we have an economic policy that will make the Country Stronger.
God Bless President Trump. MAGA.
I like Secretary Bessent very much. I know he works hard. But I am concerned that the roadblocks that turned up in the last decade, have failed to be alleviated in any real form that helps young people form families and own their share of the American dream. Corporations, investors in residential housing, housing prices, interest rates have all pushed up costs of ownership and rent for young people for far too long. It is unacceptable.
“We are eating our seed corn”.
If I want my country to survive, I don’t need a $900k home appraisal, as a boomer.
I need to see housing, in ownership and rent, become more affordable for young people.
It is not doing that. It is doing less of that. It is politically unacceptable as well, long term.
You are all smart people on this blog. Much smarter than me.
How do we make it better for young families to form in the U.S.A.?
One way is to remove illegals from our country, to free up housing units.
Another way is to strictly limit ownership by businesses and investors.
Still another way is to standardize home building products.
The last way, is very minimal. It is what Scott Bessent suggested in his talk.
Lets not pretend we are solving anything by doing this.
We will lose future elections if costs of home ownership and rent don’t come down.
Young Americans, of which I am not one, deserve a much better future than WE have delivered.
Fix it Mr. Bessent. Or the newly elected and empowered young people will fix it for us.
Does anyone on this blog care about the ones who inherit this country from us?
What can we do? We reduce the costs for veterans to buy a home.
Why not reduce the cost of young people to finance one?
Take 3% off the market’s housing interest rate for them.
It is more valuable and more needed, right now for young people.
Or do we want to become Japan?
Scott Bessent is a very intelligent person, my hat is off to you.