U.S. Rescues The Yen | Macro Mondays: August 3, 2026

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**Andreas Steno Larsen** (1:08)
Hey, sometimes it may be good, sometimes it may be shit.

**Mikkel Rosenvold** (1:31)
Hello out there, welcome to Real Vision. Welcome to Macro Mondays. My name is Mikkel Rosenvold, and I'm joined as usual by my co-host, Andreas. We have a great show for you today. We're going to be talking about the sinus wave of warfare in the Middle East, Scott Besson's to-do list, and maybe try and provide you with some situational awareness on the global world of macro, if you get such a little hint there. Andreas, before we get into the depths of global macro, I was thinking on my way over here, and I wanted to get your take on this.
We're running a research business. We're monitoring a lot of situations.
By God, we are spending a lot of money on various subscriptions. There's a new SaaS in town, the Trump Media API. Do you think it's worth much? Should we get that? What's your take? We didn't have time to discuss this over lunch, Andreas.

**Andreas Steno Larsen** (2:26)
No, but I think the pricing is $100K.

**Mikkel Rosenvold** (2:31)
It is per month.

**Andreas Steno Larsen** (2:32)
I mean, yeah, per month. Okay, I thought it was annual.

**SPEAKER_1** (2:36)
It's company-wide though.

**Andreas Steno Larsen** (2:37)
Yeah, but we're only the two of us right now, Mikkel, right? So having said that, it is obviously worth a lot if you're running a high-frequency trading disk, right? So I guess it depends on your style, given that we're a little bit more forward-looking, a bit more cycle-based. I don't think we could use it for a lot, but if you're an oil trader, I guess it's a must-have. That's it.

**Mikkel Rosenvold** (3:05)
I think all the criticism, we can get back to why this is a horrible idea, but as a business idea, this is quite a good idea.

**Andreas Steno Larsen** (3:14)
This is good thinking.

**Mikkel Rosenvold** (3:15)
I was thinking about, Andreas, some future requests here since this is a SaaS. Obviously, I would probably, as an investor, be looking for an add-on that includes a presidential pardon, because can you really trade on these informations? Is it truly legal? It's a bit of a gray area, but if you get a presidential pardon with a subscription, I mean, then you're good to go. Then another add-on, Andreas, I wanted to get your take on how valuable this would be, that will probably make it even more relevant for the core ICP.
Here would be an add-on that gives you immediate access to Scott Besson's meeting notes, because that seems to be worth even more or what?

**Andreas Steno Larsen** (3:56)
So, okay, two things. I had a laugh when I saw this because I think it was Reuters, a photograph from Reuters, and I can tell you two things. First of all, it's obviously interesting that this was an actual notepad from Scott Besson's meeting during the weekend before he entered the Japanese Yen market. But I can also guarantee you that Scott Besson didn't write this.
The reason why is that Scott Besson has traded a lot of FX.
If you're into FX and FX lingo, you would never write Japanese Yen and spell it out. You would never do that. You would only write the stuff in the parenthesis. Yeah, exactly. You would never do that. So Scott has not written this. I'm 100 percent sure. It's probably a troll.

**Mikkel Rosenvold** (4:43)
But why does he want to buy Japanese Yen there, Andreas? Let's use this as a pivot to Scott Besson's to-do list. What's going on in the Japanese Yen and why is Scott Besson getting involved here?