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| Caribbean-Latin America |
| Scott Bessent SCHOOLS liberal anchor on simple math: 'Do you know what that is?' |
| 2025-11-12 |
| [Daily Mail, where America gets its news] Scott Bessent has sent the MAGA-verse wild after schooling a liberal news anchor on America's lending deal with Argentina. The Treasury Secretary was questioned about giving the Latin country a $20 billion 'bailout' by MSNBC's Jonathan Lemire on Tuesday. The deal finalized on October 20 allows Argentina to exchange depreciating pesos for stable US dollars to bolster reserves and prevent economic turmoil. In exchange, the US earns interest on up to $20 billion it has agreed to lend at a fixed rate. Donald Trump sees the plan as not only economically sound but a strategic move to keep Argentina from slipping under China’s influence, as Beijing expands its swap lines across Latin America. 'How does a $20 billion bailout of Argentina help Americans?' Lemire asked. Bessent shot back: 'Well, do you know what a swap line is?' Lemire confirmed that he understood, 'It's a currency swap', throwing the question back at Trump's money man, 'You're the Treasury Secretary, sir.' Bessent then rebuked him for referring to the $20 billion deal as a bailout and explained how it actually made money for the US Treasury. Why would you call it a bailout?' Bessent asked. 'In most bailouts, you don't make money. The US government made money. We used our financial balance sheet to stabilize the government, one of our great allies in Latin America, during an election. The president there won in a landslide.' The Treasury Secretary was referring to Argentina's Javier Milei whose radical free market reforms have helped turn the country into America's closest ally in the region. 'I would rather use peace through economic strength than have us be shooting at narco boats coming off the shore if the government collapses,' Bessent continued. 'We have a generational opportunity in Latin America to create allies.' A bailout is a direct financial rescue - typically cash grants, loans at below-market rates, or debt forgiveness - given to a failing entity without expectation of full repayment or profit, often using taxpayer funds. The Argentina deal, by contrast, lends dollars only if they are drawn and America earns interest, and gets repaid in full. Historically such deals are profitable for the Treasury. So far, no funds have been disbursed. Related: Scott Bessent 11/07/2025 Muslim group with ‘deep’ terrorist ties huge backer of Mamdani campaign: documents Scott Bessent 11/03/2025 US Treasury Department has announced a recession in several sectors of the economy Scott Bessent 10/26/2025 US Slaps Extensive Sanctions On Colombian President & Family Over Narco-Trade |
| Posted by:Skidmark |
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| Posted by: Bobby 2025-11-12 09:33 |
| #1 |
| Posted by: European Conservative 2025-11-12 09:09 |