Scott Bessent | All-In in DC!

Chamath and Friedberg share their recent experiences in Washington D.C. before welcoming Treasury Secretary Scott Bessent. Bessent provides insights into his journey from equities to macro investing, highlighting a legendary trade against the Bank of England in 1992 and its implications for today's economic tensions between Main Street and Wall Street. The discussion shifts to the Trump Administration's economic strategies, focusing on deregulation, the Fed relationship, and debt refinancing. They explore topics such as DOGE, IRS changes, and re-engineering social security via a US Sovereign Wealth Fund. The episode concludes with reflections on affordability challenges and President Trump's influence.

Speakers

AI Chat

David Friedberg

Host • 18%

Chamath Palihapitiya

Host • 13%

Scott Bessent

Guest • 69%

Chapters

0:00	Chamath and Friedberg describe their adventures in DC and welcome Treasury Secretary Scott Bessent!
2:12	Scott's background, what drew him to equities, the role of macro investors
7:22	The legendary trade that broke the Bank of England in 1992, and how it relates to Main Street vs Wall Street today
21:30	Scott explains the Trump Administration's economic strategy
32:45	How this administration plans to de-regulate the economy, Fed relationship, re-financing debt
42:06	DOGE, DC grifts, shakeup at the IRS
50:51	Re-engineering social security through the US SWF, how energy factors in
1:00:02	Surprises, fixing affordability, thoughts on President Trump

Transcript

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