On The Record (08-25-26).

This week we staged an intervention for Scott Bessent—the failed hedge fund manager who lost 90% of his assets during the greatest bull run in history and is now the most interventionist Treasury Secretary in decades, scoring own goals in the bond market, undermining the new Fed chair, and threatening Iran with sanctions while refusing to answer a single question about China. Then we checked in on the Trump family stablecoin, which has quietly doubled in market cap. It’s a reminder that the most corrupt president in American history is building the most powerful personal wealth machine in the world, and Congress is about to hand him the legislation to run it.

Chapters

Intro: 00:00:38

Quick Takes: 00:01:28

Max Notes: 00:10:28

Killer Left Take of the Week: 00:21:28

Chart of the Week: 00:23:05

Outro: 00:24:19

Resources

Jimmy Carter Presidential Library: Economic Sanctions of Iran

Associated Press: Bush Prods Allies for Tougher Stance on Iran

American Rhetoric: Barack Obama - On United Nations Sanctions Against Iran