Bessent’s Moves Never Made Sense - Until Now | Tom Luongo

<p>Mentor Sessions Ep. 091: Tom Luongo explains the 2026 currency war, Scott Bessent&#39;s yen bomb, oil collateral, European bond squeeze, and the US Treasury buyback plan.</p><p><br></p><p>The previously most powerful people in the world are now price takers, not price makers — and Tom Luongo walks through exactly how Scott Bessent flipped that switch. Global markets just witnessed a structural break in the European bond trade, and almost nobody saw the mechanism behind it.</p><p><br></p><p>In this conversation, Tom Luongo and Nathan break down the currency war unfolding across the FX and bond markets: how Bessent &#39;bombed the yen&#39; by selling euros instead of dollars, why the euro-yen cross froze the moment Operation Epic Fury began, and how Iranian oil loadings were being used as collateral to fuel the short-yen, short-Treasury trade. You&#39;ll learn why the US Treasury buyback expansion is a signal and not QE, how the German Bund fits into Europe&#39;s alleged default-and-consolidate endgame, and what John Ratcliffe&#39;s open trip to Moscow may be telegraphing. You&#39;ll also hear Luongo&#39;s falsifiable macro thesis — where the 30-year yield goes next, and what it means for gold, silver and Bitcoin.</p><p><br></p><p>⏱️ Timestamps:</p><p>0:00 - Intro</p><p>0:44 - Bessent&#39;s Moves on Yen and Euro</p><p>1:27 - Shifting From Kinetic to Economic Siege</p><p>3:06 - The Yen Carry Trade That Shouldn&#39;t Exist</p><p>4:42 - Bessent Blew It Up Selling Euros</p><p>8:26 - Euro-Yen Cross Freezes After Iran Strikes</p><p>8:49 - Iranian Oil Used as Trade Collateral</p><p>11:17 - Traders Trapped After Buying Oil Breakout</p><p>12:59 - How Bessent Scans 270 Markets for Signals</p><p>18:05 - Treasury Buyback Expansion Details</p><p>22:04 - Defending the 5.25 Percent Yield Level</p><p>23:31 - Buyback Limit Is Just a Market Signal</p><p>27:15 - Europe&#39;s Default and ECB Consolidation Plan</p><p>28:45 - Financial Warfare and Carney&#39;s Trade War</p><p>29:40 - Abundant Mines Sponsor</p><p>33:20 - Banks Trading With Iran Cut From Dollars</p><p>38:01 - US Taxpayers Funding Global Financial Chaos</p><p>41:24 - Is the Budget Deficit Really Shrinking</p><p>45:17 - China Iran Canada Oil and Banking Links</p><p>47:46 - Why Ratcliffe Is Meeting Russia in Moscow</p><p>50:54 - BRICS as Hedge Not Dollar Replacement</p><p>53:33 - Gold Silver Bitcoin Surge Explained</p><p>55:20 - Pushing the Long End of Yields Lower</p><p>59:00 - Key Markets to Watch Through Election</p><p>1:00:14 - Reading the Charts That Actually Matter</p><p>1:01:16 - Luongo&#39;s Falsifiable Macro Thesis</p><p>1:02:38 - Where to Follow Tom Luongo</p><p><br></p><p>Tom Luongo publishes his macro analysis and the Gold, Goats &#39;n Guns newsletter — links below. </p><p><br></p><p>⚡Previous Episode - Jeff Booth &amp; Scott Melker: https://youtu.be/J7ze_lMKbZM </p><p><br></p><p>🔗 Links &amp; Resources:</p><p>• Tom Luongo on X: https://x.com/TFL1728</p><p>• Gold Goats &#39;n Guns blog: https://tomluongo.me</p><p><br></p><p>🔔 Subscribe for weekly Bitcoin Podcasts</p><p>🐦 Follow on X: https://x.com/BTCSessions</p><p>🐦 Follow on X: https://x.com/theBTCmentor</p><p><br></p><p>⚡Sovereign Sessions — AI, Privacy, and Bitcoin education: http://youtube.com/@SovereignSessions?sub_confirmation=1</p><p><br></p><p>💡BOOK Private Sessions with Nathan, Ben and the BTC Mentor Team: Master self-custody, hardware, multisig, Lightning, privacy, and more.</p><p> 👉 Visit btcmentor.io </p><p><br></p><p>⚡ POWERED by Abundant Mines: Fully managed Bitcoin mining. Learn more at https://qrco.de/bgYKPB</p><p><br></p><p>#Bitcoin #ScottBessent #TomLuongo #Gold #Iran #MarkCarney #BondMarket #USTreasury #YenCarryTrade #CurrencyWar #FinancialWarfare #GlobalMacro #DollarSystem #Geopolitics #BTCSessions #OilCollateral #EuroDefault #GermanBund #KevinWarsh #Silver</p>