Just as predicted, Bessent is buying back $12.5 billion in US Treasuries this week because there are no buyers left. China dumped $41 billion, Japan dumped $47 billion, and there is $240 billion in foreign selling in 30 days. Long-term yields have hit 20-year highs. There is a buyers' strike on American debt and the Treasury Secretary is stepping in to buy our own bonds with our own money. The GENIUS Act requires every stablecoin issuer to hold reserves in short-term US Treasuries. That means every digital dollar minted is a forced buyer of government debt. Bessent himself said stablecoins could absorb $1 trillion of our debt, and I'm sure the current open investigations against Tether will disappear if they own $1T in US debt. I digress. He is doing the buybacks right now to keep the bond market from collapsing while the stablecoin law spins up the replacement buyers. Foreign central banks are walking away and private digital dollar companies are walking in. They are legally required to buy Treasuries no matter what the yield is. The buybacks are his bridge to the stablecoin destination. Currency Killer, how Bessent is crashing our dollar is on my substack now (link in bio). Enjoy!

Larry Ellison just asked the one question no journalist on Earth can answer. A Wall Street Journal writer told Ellison to his face that Elon Musk doesn’t know what he’s doing. Ellison didn’t argue. Didn’t get emotional. He just asked a question. Ellison: “This guy is landing rockets on robot drone rafts in the ocean, and you’re saying he doesn’t know what he’s doing. You ever land a rocket?” One question. No recovery. Ellison: “Who are you? Why should I believe you as opposed to my friend Elon?” This is the question the entire media class has been dodging for a decade. Who are you to judge? What have you built? What have you shipped? What problem have you solved that didn’t involve a keyboard and a deadline? Ellison: “You’re there in front of your Apple Macintosh typing up an article saying Elon’s an idiot.” They sit behind a laptop they did not engineer. Using a network they did not build. Running on silicon they cannot explain. To tell the world that the man sending humans to space doesn’t know what he’s doing. They have never built anything heavier than a Word document. And they publish it with absolute certainty. That’s the part that should disturb you. Not the criticism. The confidence behind it. The total absence of self-awareness it takes to judge disciplines you wouldn’t last a single semester in. Musk does not operate in opinion. He operates in the physical layer of the universe where the math closes or the rocket does not come home. His critics operate in a text editor. He built the vehicle that carries NASA astronauts to the International Space Station. The satellite constellation delivering internet to active war zones. The EV that forced every automaker on Earth to abandon their combustion roadmap. His loudest critics built a byline. So why the coordinated hatred? Because they lost the leash. The attacks didn’t escalate because Musk got worse at engineering. They escalated because he bought X. He cracked open the algorithm. He handed the public square back to the people. And he shattered their ability to control what you’re allowed to think. They don’t hate the engineer. They hate that the engineer took their monopoly. You cannot cancel a rocket. You cannot publish a hit piece on gravity. You cannot edit the laws of physics. They own the syntax. He owns the physics. One of them is going to Mars.

Let me make this very clear: Big Banks (think JPMorgan Chase, Bank of America, Wells Fargo, etc.) are lobbying overtime to block Americans from getting higher yields on their savings—while trying to block any rewards or perks from being given to customers. These banks, and others, pay rock-bottom rates on standard savings (often 0.01%–0.05% APY), even as the Fed pays them 4% or more. This massive spread fuels record profits, with almost none passed back to their customers / everyday depositors. Today, the banks are desperately targeting crypto/stablecoins, where platforms plan to offer 4–5%+ yields or rewards. The ABA and other lobbyists are spending millions trying to ban or restrict those yields via bills like the Clarity Act, crying “fairness” and using words like "stability"—when it's really about protecting their low-rate monopoly and preventing deposit flight. This is anti-retail, anti-consumer, and straight-up anti-American. Next time you see a big bank dropping billions on a shiny new Midtown Manhattan HQ, you know exactly where that money comes from: the non-existent interest rate they “pay” you! Fortunately, the big banks are losing this fight as customers wake up to the games… @worldlibertyfi