Treasury Secretary Scott Bessent joins CNBC ‘Squawk Box’ this morning to discuss his 12-hour meeting with Chinese Vice Premier He Lifeng. Within the interview Bessent details the ‘U.S.-China AI Dialogue’, the calls for a slowdown in AI development and whether regulation is needed.
Secretary Bessent notes President Trump is not going to deliver liability immunity to AI frontier labs and existing legal frameworks within the U.S. will remain as protective pathways as development moves from AI labs into engineering outcomes.
This is the core of the issue. The investors that poured money into the AI labs, now support immunity from legal liability that doesn’t exist in any other sector other than Big Pharma. AI wants the same protection as Big Pharma, and President Trump is not going to allow the shift in responsibility from AI developers to government. WATCH:
Also below is the full debriefing from Secretary Bessent and USTR Jamieson Greer that followed the Sunday meeting between the U.S. and Chinese counterparts.
As CTH has noted, the pace of these critical economic developments is going to speed up over the next several days and weeks. It becomes increasingly important to stay tuned-in to the granular issues as they unfold in order to fully appreciate the landscape that surrounds us. It can be challenging to absorb information as the pace increases, yet it is critical to remain aware so that each building block in the nationalist policy making remains in context.
AI wants the same immunity big pharma has… to kill people without liability.
So do the Democrats/Communists.
This time is different. Democrat/Communists won’t kill millions of us? See the carnage on our streets from illegals and criminals that are repeatedly let loose on us.
Yes they will, Terry, which is why I wrote essentially they’d be tickled pink to have a legal shield to do it.
I agree Betsy I left out the sarcasm. I was hoping the next sentence did the job. I disliked the Tort lawyers for years, but with what we are facing every corporation needs to have a Check and Balance. Tort Law is part of that Check and Balance.
All of what we see driving America to become yet-another-nation-state are implementations of the globalist agenda. The two most critical objectives of that agenda are Depopulation and the Taking of Property. Accomplishing both require indemnification and immunity. Their regulations and legislation assure that taxpayers bear the burden of both.
Hopefully PDT, his administration and the America First AI Developers have called the baby ugly enough and soon enough to head off the anti-American AI “attacks” they had planned. If the rogue AI attack scare hoaxes weren’t being screamed by the very scum who tried to control the US military and then were shut out of US government contracts, they might be a bit more believable. Russia Russia Russia, clot shots hoaxes etc all over again have maybe been headed off by pointing directly back at their current lack of liability protection
Privatize profits , socialize losses.
Why? Who in DC has been held accountable for anything? They all have immunity for anything they do.
Fear mongering
They also want to ban open source, hence only government approved AI, letting a business roll it’s own custom (better) open source AI kills the pay/per/token business model. Hence not enough revenue, hence can’t service the massive debt, hence pop goes the AI bubble.
157 upvotes, really?
I lived long enough to say, ” Let the Tort Law Sort it Out”. No more Safe and Effective. You may bad products or dangerous products and you suffer the consequences. FAFO In fact if you knowingly allow a defective AI product that kills people….you should be criminally liable.
Yes, full civil and criminal liability should never be waived.
Hence the evil genius of controlling the insurance sector regulations in parallel. It is far easier now for the insurance behemoths to settle than to fight and then just spread the costs across individual ratepayers in all sectors, not the comapany or industry at fault.
Anyone else’s insurance premiums skyrocketing besides me?
The insurance industry is disgusting. It doesn’t matter what kind. They’re all corrupt. I hope more people open their eyes to this.
We need to rethink how we monitor and manage the problems that the insurance industry claims they solve.
What’s a mere 36% average per year since the Great Flu introduction?
That would require honest courts ; getting difficult to find these days.
They introduced the Chinese Vice Premier to Bessent:
‘He Lifeng’…
So Scott also left 🙂
touche’
12 hours? Holy shit.
Secretary Bessent…
Immaculate in dress and the execution of his responsibilities and observations.
Nothing gets by him.
(This is going to sound absurd. Nevertheless…First thing I noticed about him, as always before he ever begins speaking, is that that there is no space between his perfectly knotted tie and the collar of his crisp, white shirt. A man who pays attention to such a tiny detail as that will be eagle eyed with everything else. Formidable. One of President Trump’s finest appointments.)
Nice observation. Which only furthers the popular, laudatory sobriquet: “Trump’s big, gay Patton!”
And they didn’t see him coming, he got approved…like a huge secret weapon of economic strategy…wonder how many talks they had prior to the election.
💥💯🇺🇸🦅
And a razor sharp intellect with a sublime wit…also which these never gave him credit for.
To their disadvantage. Glorious!
This is all about keeping open weights models out or the frontier labs won’t be able to justify their sky High valuations.
There is another sector free from liability in order to push their NWO agenda – the Government Sector and its NGOs
thankfully, the conservative treehouse is here to explain it thank you, Sundance.
Fortunately, the large tech firms working on these AI models have lots of money. So if they program some super AI virus that “escapes” and causes a lot of financial mischief, they can drain their wealth funds to compensate everyone.
Good! AI Grand Poohbahs want government protection from competition. We don’t need a Covid-like government response to AI.
The government helped Big Pharma during Covid and we see how that turned out. At least those of us who lived through it did.
The only reason to issue blanket immunity to give shade for nefarious and malicious behavior
Thank you for this post Sundance. I like the practical approach of these two gentlemen. So different from the hair on fire rhetoric we are hearing from the podcast world.
President Trump is going to create an AI force/task force. He states this is going to be very much like the same model as Space Force which has been a huge success. He is such a forward thinker and has kept us in the forefront of technology with national security in mind.
I will wait and see what happens as a result of these talks. I do believe that President Trump has got this.
What bothers me is that’s another department/layer of bureaucracy and more Government jobs. I’m still waiting for the dissolution of wasteful departments such as the Dept of Ed. There’s more, but that was one of the first promises out of the gate.
Big pharma shouldn’t have that exemption. If you sell snake oil to the people, then you deserve to go to prison like any other crook.
An angle to be considered here is that our (shadow?) gubmint is fully invested in the destruction of our “free” country and it’s “privileged” people.
In order to take away our privilege to the pursuit of life, liberty and happiness, they had to get creative. The easiest way to gain big pHarma’s buy-in with their globalist depopulation agenda was to pass legislation absolving big pHarma of all legal liability for their participation in the gubmint’s nefarious agenda.
We know a nefarious agenda is afoot when everybody receives a poison death shot except for CONgress and US postal workers.
So, he sat down with a CCP drone and listened to him lie for 12 hours?
Chinese….Communist….Party
Yeah, trust them.
Wow do people see the world differently than I do, maybe it’s because I understand what’s going on behind the scenes.
Please stop this nonsense with A.I. and who’s going to kill who. Where do we come up with this stuff?
On Wednesday last week in a trading room, at 7:25 am NYC time, I trade with some professionals every morning in case you were wondering, and they were discussing the Fed raising rates before it came out and how it was going to collapse the markets. Here was my verbatim reply,
“Everybody thinks the markets are going to collapse because of the Fed possibly raising rates but where else are investors going to park their money. This is going to confuse lots of people. So, I’m counting on new highs because the big boys are stepping away from government debt. It doesn’t help when the Treasury becomes the buyer of our debt.”
Look at the markets today and we are just getting started.
I took a screenshot but I don’t know how to covert it to post it on here, that is where I’m ignorant! 😂😂
I’ll never forget the Obummer years that had a stock market rise on every piece of bad news.
“I took a screenshot but I don’t know how to covert it to post it on here,”
You have to upload to an account you create at a website such as this. There are others as well….
https://postimages.org/
You upload the image and the website will generate a URL for you that can be pasted into a reply.
Banks, Investments and Insurance companies need to split apart again. The way it used to be. No more banks going down because of unwise investments or insurance schemes taking depositors down with them. Let investment and insurance companies stand on their own IMHO. You want to insure or invest in AI, stand on your own.
Is that a real Chinese name? Sounds made up to me.
That is his name. Chinese put their last name first.
This is what you were not shown and most of you will think Bessent a hero but I’m here to tell you, this is a very bad decision and why I say we are in a debt crisis. Keep pushing Mr Secretary, China can’t thank you enough for expanding their Cross-Border Interbank Payment System (CIPS)
From his own mouth which Sundance did not show but was said.
Treasury Secretary Scott Bessent declared on Monday that by Wednesday Sept. 23, “all the Iranian airlines will be shut down around the world.“
“If they land, you cannot provide them with fuel, you cannot provide them with landing services, you cannot sell them tickets, or you will be knocked out of the dollar system,”
The CIPS is firmly in place in this part of the world and disruption would not be a good idea.
As for Iran Air, they only have a handful of planes. I understand Bessent’s motive but the impact will be negligible.
Sorry John, had to step away for a bit. Whether this is negligible or not, it’s what he is saying. So I don’t know if he’s blowing hot air for the media, puffing up his chest or really thinks this is a smart idea. But this is the second time he’s threatened this move. I already know we are in some serious BS here regarding the debt markets otherwise Bessent would be buying back the long bonds but it could be a distraction from the masses, but it is still not a good look.
The Bond markets are a $30+ Trillion market and when he purchased only $6 Billion in buybacks for his first operation, that’s like throwing a pebble into the ocean hoping to see a ripple. The Bond guys will eat him for lunch..
He needs to stop thinking he can control the markets, he’s going to fail big time.
Lab grown human brains will figure it all out and do what’s best for us I’m sure
We can put them in everything and never have to use our brains at all
Thank you, Sundance. On watch.