Within that framework, he explained that economic support alternatives include Swap lines, direct currency purchases and acquisitions of Sovereign debt in dollars through Exchange Stabilization Fund (ESF). His words met at the prelude to the meeting between Milei and Trump in New Yorkwhere he will also be the protagonist.
Scotto Besent and his role as a link with Argentina
Far from being an isolated statement, the message of Besent reaffirmed his role as a visible face of the economic support of Washington to the libertarian program.
Months ago, he had visited Buenos Aires To meet with Milei and the Minister of Economy, Luis Caputowhere he ratified the “full support of the United States to the bold economic reforms” of the president, insisting on the need to drastically reduce the public spending and the fiscal deficit.
From his Arrival to the TreasuryBesent was erected as an architect of the Republican Economic Agenda: Less Taxes, Cutting of Regulations and application of generalized tariffs.
How it became a republican reference
Become the 79. Treasury Secretary crowned the career of who was once protected from George Sorosbillionaire and liberal philanthropist.
In the 90s, as a partner of Soros Fund Managementwon notoriety when betting on the sterling pound, which generated US $1 billion For the bottom. After founding his own manager, he returned in 2011 as Head of Investments of Soros.
In his initial stage, he supported the Democratseven donating Hillary Clinton, John Kerry and Barack Obama. In 2000 he organized a fundraising for Al Gore. However, over time he turned to the right and went on to finance republican candidates.
Throughout his life he contributed around U $ S15 million to political causes, of which barely U $ 300,000 They went to Democrats. In 2016 donated U $ 1 million to Trump’s investiture.
Your personal life and your convictions
Southern deep roots, raised in a fishing village of South Carolinahe studied at Yalewhere he was treasurer of his class and wrote for him Yale Daily News.
In 1981, in the middle of the university, he confessed to feel “devastated” by the resignation of George Wallace to compete for the presidency.
Gay, married and with children, Besent publicly defended the equal marriagesupporting causes such as Elton John Foundation against AIDS and the Empire State Pridenda. Although the Republican party sometimes questioned the LGBTQ movement, he ended up hugging that political identity.
His link with Donald Trump and the family
Although he did not participate in the first campaign or the first term, Besent cultivated a close relationship with the Trump. He was a friend of Robert Trumpbrother of the former president, and maintains a close bond with Blaine Trumpgodmother of her daughter.
Both shared the Board of God’s Love We Deliverorganization dedicated to attending people with HIV/AIDS.
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During the presidential campaign, when many entrepreneurs avoided supporting Trump for his judicial causes, Besent adopted a different position. As explained to the analyst Mark HalperinI saw Trump like “An action that goes up with the bad news”.
Last August, Trump presented it at a rally in North Carolinadescribing it as “very handsome” and “one of the brightest men of Wall Street.” Within that framework, Besent warned that an eventual presidency of Kamala Harris It could cause an economic collapse.
That was when he approached Trump a “3-3-3” plan: 3% economic growthreduction of Fiscal deficit at 3% of GDP and increased oil production in 3 million barrels per day.
Although sometimes moderated the most radical positions of the former president, such as the immediate application of massive tariffs, Besent defended a “maximalist” strategy in commercial negotiation, but recommended implementing it gradually.
According to Stanley Druckenmillerhis colleague in Soros Fund ManagementBesent combines a friendly style with great ability to persuasion: “If someone can do it, it’s Scott,” he said. That ability made it the key figure to manage the economic relationship between the administration of Trump and the Argentina Libertaria from Milei.
Source: Ambito
