It turns out that it was never about bringing back money to America but about helping different friends. Notably, Billionaire Stanley Druckenmiller is a longtime mentor and friend of Treasury Secretary Scott Bessent and has some large investments in Argentina.
Now Bessent says:
Treasury directly purchased Argentine pesosHave finalized a $20 billion currency swap framework with Argentina’s central bankUS Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to marketsAlso discussed Argentina’s investment incentives, and US tools to powerfully support investment in our strategic partnersTrump and Milei will meet on October 14
It’s all about the ‘strategic partners’ now. What’s the strategy? That’s tougher to say.
This article was written by Adam Button at investinglive.com.