Trump’s Treasury pick Bessent
‘No reason’ for U.S. to have central bank digital currency, Bessent says
Bessent indicated that he did not think the Treasury should continue to examine the potential creation of a central bank digital currency.
“I see no reason for the U.S. to have a central bank digital currency. In my mind, a central bank digital currency is for countries who have no other investment alternatives,” Bessent said.
A digital currency makes more sense for countries that tend to hold other foreign currencies, such as the Chinese yuan, he said.
“If you hold U.S. dollars, you can hold a variety of very secure U.S. assets,” Bessent said.
A 2022 executive order from President Joe Biden called for the government to research a digital dollar.
Digital Dollar is put on ice for the next 4 years.
Bessent says heavier sanctions on the way for Russia
Russia, and particularly oil companies, can look forward to tougher sanctions under the Trump administration.
“If any officials in the Russian Federation are watching this confirmation hearing, they should know that if I’m confirmed, and if President Trump requests as part of his strategy to end the Ukraine war, that I will be 100% on board from taking sanctions up, especially on the Russian oil majors to levels that would bring the Russian Federation to the table,” Bessent said.
And as predicted. They are going to attempt to strong arm Russia again, which is basically an unconditional surrender.
