Giddy up.  Yesterday, President Trump and Marco Rubio announced the U.S. withdrawal from the United Nations Framework Convention on Climate Change (UNFCCC). {GO DEEP} Today, Treasury Secretary Scott Bessent makes the official notification to the UN.

The notification is important because the 1992 UNFCCC was ratified by the U.S. Senate 34 years ago, making it one of the first UniParty climate change pacts supported by the ¹DC business model.

According to the terms of the treaty, withdrawal from the UNFCCC requires an official notification to the United Nations, and the dissolution takes effect one year later.

TREASURY PRESS RELEASE – WASHINGTON – In alignment with the Trump Administration’s decision to withdraw from the UN Framework Convention on Climate Change (UNFCCC), the U.S. Department of the Treasury has notified the Green Climate Fund (GCF) that the United States is withdrawing from the Fund and stepping down from its seat on the GCF Board, effective immediately.

“Our nation will no longer fund radical organizations like the GCF whose goals run contrary to the fact that affordable, reliable energy is fundamental to economic growth and poverty reduction,” said U.S. Secretary of the Treasury Scott Bessent.

The Trump Administration is committed to advancing all affordable and reliable sources of energy, which are fundamental to economic growth and poverty reduction. The GCF was established to supplement the objectives of the UNFCCC, and continued participation in the GCF has been determined to no longer be consistent with the Trump Administration’s priorities and goals. (SOURCE)

For those who have a tough time accepting wins, no, the next President cannot just rejoin the agreement; nor can the Senate block Trump’s withdrawal from it.  The entire process would have to be restarted, and it’s a heavy lift to sell the American public on paying higher prices just to make pontificating global elites feel better about themselves.

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As you review this latest data on trade, remember any drop in trade deficits has two big picture functions:

First, lower trade deficits generally mean the accompanying GDP release will be stronger than anticipated because imported products are a deduction from the valuation of all goods and services created in the U.S. economy.  Lower imports mean less is deducted.

Secondly, and perhaps most importantly, a drop in the trade deficit created by diminished imports means more wealth remains inside the USA.

We are not spending, sending money overseas, to import foreign goods at the same rate, and that money stays inside the U.S. economy. More wealth inside the U.S. provides the fuel for expanded domestic growth, more investment gains in USA manufacturing and USA industry and the ability to pay higher USA wages.

The Commerce Department is reporting today that the U.S. trade deficit for October 2025 dropped to the smallest amount in 16-years.  A significant amount of the deficit drop was because a high value of physical precious metals (gold/silver) was exported, simultaneous with big offshore pharmaceutical companies dropping the prices of imported products (policy and tariff pressure).

WSJ – The U.S. trade deficit shrank dramatically in October to its lowest level since 2009, the Commerce Department said Thursday, an unexpected twist in a year of volatile trade flows that have been buffeted by the Trump administration’s steep tariffs.

American imports fell to $331.4 billion in October, while exports increased to $302 billion. That yielded an October deficit of $29.4 billion, an imbalance nearly 40% smaller than September’s. (more)

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The United States Office of the Comptroller for the Currency (OCC) has delivered the preliminary results of an investigation into large U.S. banks and the practice of “debanking” customers based on ideology. [PDF HERE]

Between 2020 and 2023, the OCC found that JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Wells Fargo & Co., U.S. Bancorp, Capital One Financial Corp., PNC Financial Services Group Inc., Toronto-Dominion Bank, and Bank of Montreal, all maintained policies that restricted legal companies from access to banking based on the “values” of the bank.

According to the OCC report, “these nine banks made inappropriate distinctions among customers in the provision of financial services on the basis of their lawful business activities by maintaining policies restricting access to banking services or requiring escalated reviews and approvals before providing certain customers access to financial services.”

Press Release – […] The Office of the Comptroller of the Currency (OCC) today released preliminary findings from its supervisory review of debanking activities at the nine largest national banks it supervises: JPMorgan Chase Bank, Bank of America, Citibank, Wells Fargo Bank, U.S. Bank, Capital One, PNC Bank, TD Bank, and BMO Bank.

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President Trump holds a roundtable discussion with Agriculture Secretary Brooke Rollins and various farm state senators as he outlines $12 billion in support and subsidy for American farmers.

With energy prices lowered, the costs for natural gas, fertilizer, diesel and gasoline prices have fallen; however, food costs have remained high.  President Trump announced with Brooke Rollins an initiative to help support American farmers with the intended objective to lower production costs from the field that will hopefully transfer to the fork.

Secretary Rollins and President Trump announce a $12 billion bridge subsidy to assist farmers with proactive planning for the 2026 planting season.  The money is coming from revenue generated by tariffs, and row crop farming will be the first subsidies delivered.  WATCH (media questions begin at 31:40):

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Secretary of Treasury Scott Bessent appears on CBS’s Face the Nation for an inflation and affordability debate with narrative engineer Margaret Brennan.

The primary narrative can be seen in Brennan’s emphasis of the new democrat catch phrase “affordability.”  Having gaslit the American electorate over the issues of Joe Biden’s economic/energy policy which created record inflation, the same media who ran cover for Joe Biden have switched during the Trump administration to calling the subsequent high costs an “affordability” crisis.

In essence, Biden’s economic, energy and monetary policies drove 2021/2022 inflation to record levels, this made all prices rise massively.  Those high prices are now the “affordability problem.”  WATCH:

[Transcript] – MARGARET BRENNAN: Good morning and welcome to ‘Face The Nation.’ We have a lot of news to get to, and we begin with the Secretary of the Treasury, Scott Bessent. Good to have you here.

TREASURY SECRETARY SCOTT BESSENT: Morning, Margaret.

SEC. BESSENT: Mr. Secretary, a lot of people are out there holiday shopping. Here is how the President described back in April, what to expect from this season.

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If we read between the lines in the latest update from President Trump emissary Steve Witkoff, we can clearly see the negotiations have entered into that critical phase where payments to all of the stakeholders will determine a successful outcome.

Pragmatic people have long predicted the ultimate solution to the bloodshed will only be determined once western interests get to the point where negotiators propose a long-term plan for continued financial benefit.  Too many people, “stakeholders” are making money from the conflict.

From a western perspective, support for the Ukraine conflict is based on money. Therefore, the solution to the conflict requires a system where the western opportunity for financial benefit continues.

Written in polite diplomatic terms, the continued payments are identified as “the prosperity agenda which aims to support Ukraine’s post-war reconstruction, joint U.S.–Ukraine economic initiatives, and long-term recovery projects.” This is codespeak for the U.S. Senate and EU will retain a financial mechanism to exploit for personal benefit.

From the language it appears that Witkoff and Kusher are confident they can construct a financial reward system for western banks, investors, politicians and Ukraine officials that will retain the benefits of war without the ancillary ingredient of bloodshed.

If the U.S. delegation can pull this off, then Russia can gain the territory they want, corrupt Ukraine officials can keep skimming investment money, the EU can retain the power it wants to extract financial payments, American politicians can use the “long-term recovery projects” for money laundering and quasi-public/private investment banks can benefit from the exploitation of Ukraine resources.

Again, from a ‘western geopolitical perspective’, the territorial issues, security guarantees, EU membership status and the position of NATO are downstream details once the larger payment system is organized.  Put another way, they are down to the stuff that really matters, the money.

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Treasury Secretary Scott Bessent appears on Meet the Press to debate Kirsten Welker’s formatted corporate media talking points.  The source of most American division is found in the behavior of the media.

Video and Transcript Below:

[TRANSCRIPT] – KRISTEN WELKER: And joining me now is Treasury Secretary Scott Bessent. Secretary Bessent, welcome back to Meet the Press.

SEC. SCOTT BESSENT: Kristen, good to be with you today.

KRISTEN WELKER: It’s great to have you here in person. Thank you for being here. I want to start right there on the discussion of affordability. You just heard Vice President JD Vance ask people to have, quote, “a little bit of patience” with the administration. Let me ask you, Mr. Secretary, how long do Americans need to be patient? How long do they have to wait for the cost of living to come down?

SEC. SCOTT BESSENT: Well, Kristen, in March of 2024, I – I wrote a piece, and I talked about the three I’s that were killing Americans: immigration, interest rates and inflation. The president’s closed the border, and the mass immigration is gone. And that was putting – a lot of the immigration was putting upward pressure on housing, downward pressure on wages. Interest rates are down. And now we are starting to see the affordability – we – the prices get better. We had a very big October for home sales. Energy prices, gas – gasoline is down. We saw – we believe health care is going to come down. We will see an announcement this coming week on that. And so across the board, prices are starting to come down. We’re having Thanksgiving week. This will be the lowest cost for a Thanksgiving dinner in four years. Turkey prices are down 16%.

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The govt shutdown made a mess of the economic data surveying and statistical analysis generally needed for accurate snapshots of the economy. However, the Bureau of Labor and Statistics (BLS) was able to release the September jobs report data {SEE BLS REPORT HERE}.

The geopolitical trade reset continues delivering domestic economic fluctuations, as each sector and specific international dependency reacts to President Trump’s shifts and turns in targeted economic policy.  The September jobs report caught the economic pundits off-guard, as it showed a much bigger gain in jobs than they expected.

As noted by MSM, “The US added 119,000 jobs in September, far more than the 53,000 economists expected, and unemployment unexpectedly increased to 4.4% from 4.3%.”  President Trump’s immigration enforcement continues to capture and remove illegal alien workers from the U.S. economy. This is also driving up domestic wages.

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President Donald Trump gave U.S. Trade Representative, Ambassador Jamieson Greer, all the tools and leverage needed to bring the Swiss govt to a substantive trade agreement.  The pressure was too much to bear, so Switzerland quickly negotiated a deal.

In the background President Trump’s global trade reset has been seriously damaging for the Swiss industrial economy.  The EU overall, Germany specifically and China, have stopped purchasing precision Swiss industrial machinery.

It’s not the direct tariffs against Swiss precision machinery itself that created the pressure, but rather the tariffs against nations who purchased the Swiss precision machinery.

China was a big purchaser of the Swiss machinery, until Beijing stole enough intellectual property to develop their own precision machining capacity.  Slowly China didn’t need Switzerland.

Germany and the EU economy then began to contract as the Trump tariffs bit hard against their exports to the USA.

Simultaneously, Chinese EV production started replacing more expensive European EV production, and the tooling purchases within the auto industry began contracting within Switzerland.

As things unfolded, the forecast for the future of the Swiss economy started to become very clear; their precision industrial exports were going to continue contracting.  Something needed to change, and fast.

Ambassador Jamieson Greer announces a major free trade agreement with Switzerland {SEE HERE} and the White House provides a fact sheet {SEE HERE}. A joint statement is then released:

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Treasury Secretary Scott Bessent appears on ABC This Week to combat the narrative engineering of DNC transcriptionist George Stephanopoulos.

Sometimes it’s worth watching Stephanopoulos, Bill Clinton’s former Chief of Staff, because he frames the political position, current and future, for the Democrat party. Video and Transcript Below:

[Transcript] STEPHANOPOULOS: And we’re joined now by the Treasury secretary, Scott Bessent.

Mr. Bessent, thank you for joining us this morning.

We’ve just heard about all these impacts from the shutdown — government shutdown right now. Are we starting to see — see a permanent impact on the economy?

TREASURY SECRETARY SCOTT BESSENT: Sure, George.

And good to be with you.

And we’ve seen an impact on the economy from day one, but it’s getting worse and worse. We had a fantastic economy under President Trump the past two quarters. And now there are estimates that the economy, economic growth for this quarter, could be cut by as much as half if the shutdown continues.

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