Did the US Government Just Set Up Bitcoin's Biggest Bull Run?! | Bitcoin Simply

Dante Coco (0:00)

Bitcoin is looking like it's on the verge of a breakout, and it's probably because it senses the US government and the Republicans are starting to lose confidence of the voters and the market. In a plea of desperation, the President Donald Trump said that he's gonna give every single American a $5,000 check. He says that it's from all the tariff revenues that we've gained, but we're gonna debunk that in the episode and tell you what it really is, money printing. And what's even more scary, in the same video, he calls out a 1929 Great Depression. And at the same time, the US Treasury Secretary Scott Besson is backpedaling from his I Am The House Now statement. As he admitted in an Axios interview this weekend, I can't control the bond market. The US government cannot stop the bond sell off. And they're beginning to tell Bitcoin is what we already knew all along. Their only option is to print more money. Rates are higher, stocks are nervous on the AI trade, and Bitcoin seems to be the most investible asset heading into the fourth quarter. Stay with me. By the end of the episode, you're gonna understand why the only thing that they can't print is gonna be the most important thing that you can own. This is not to cook with Bitcoin simply. Let's go.

Less than a month ago, Scott Besant was as arrogant as ever. He said that he had insider information, asymmetric information. His intervention into the Japanese bond market had him feeling pretty good about himself and what he was capable of. But the broader bond market has clapped back in a serious way.

Scott Bessent (1:24)

And whenever people say, oh, well, Treasury Secretary is taking a risk, well, it's my dream. I have asymmetric information. I am the house now.

So when we intervene with the Japanese yen, I have pretty good insight into what the Japanese, what the Bank of Japan is going to do, what Japanese policy makers are going to do. And if you can bet against me if you want.

Dante Coco (2:01)

Bet against me if you want was his posture. I am the house. I know what's going to go down. I know what the next steps are going to be. Fast forward to today, and we get a completely different tone.

SPEAKER_3 (2:10)

Last month, you told the markets, I am the house now. They bet against you at their apparel.

Do you regret saying, I am the house now?

Scott Bessent (2:19)

No, because, look, the house doesn't win every hand. The house plays the percentages.

And, you know, like, look, that I, maybe they hurt some fragile egos on Wall Street, that I always had respect for the market. And, you know, I always tried to look and think, like, what's the move after the move? That, you know, if you have an ego, you lose a lot of money.

SPEAKER_3 (2:43)

But the market swept back.

Scott Bessent (2:44)

No, it didn't. How did it swept back?

The rates went up, but oil went up. That, you know, I could say, okay, yesterday we had the, you know, we had the first full allocation since we have expanded our treasury buybacks and rates collapsed. You know, there's nothing causal there. It was coincident.

SPEAKER_3 (3:04)

The Financial Times, probably your favorite paper, said Bessent fails to break fever in US bond market. What did you learn from that?

Scott Bessent (3:12)

Well, I learned that the Financial Times is anti-American, anti-business, and they have a fever. They're constantly trying to create a problem for the US. But let's leave that disgraced publication of London aside.

Dante Coco (3:29)

Subscribe to the channel if you already haven't. We drop fire news like this seven days a week. The US government's reeling, they're backpedaling, and we're here to help you understand exactly why Bitcoin might be the most important asset that you can own. Let's get back to it. What we see here is a man who's defensive, somebody who's name calling, somebody who's aggressive, somebody who appears to be taken back by the pushback of the actual question. Scott is clearly displaying the characteristics of a person who is not in control of a situation. It's the animal backed into a corner who's hissing at anyone who approaches it. Over and over and over again, we've seen him display this confidence about his third year track record in the markets and the success that he was able to have. But now that he's on the other side, he's beginning to realize that there's some things that he's not in control over. And then honestly, things that he inherited that he had nothing to do with, like $42 trillion in debt. And so as he continues to talk, the truth finally comes out.