🚨 Bessent CRASHES OUT in HEARING…

Treasury Secretary Scott Bessant was. just grilled under oath in the House of. Representatives. He crashed and burned. This is why we need real congressional. oversight. Let me show you what went. down when Treasury Secretary Bessant was. cross-examined by Democratic Congress. members. Here you have Democratic. Congress member Hines cross-examining. him. Play this clip. Spend one minute on. your intervention. About a week and a half ago, you spent. some 10 billion dollars plus or minus to. try to lower the yield on the 10-year.

bond. This price is American mortgages. When you started, the 10-year bond was. at 4.8%. Today, it's at a 20-year high. of 5.04%. 20 basis point rise. Was your. intervention successful? >> And will there be more? >> Uh, yes, it was, sir. And the. >> Wait, wait, wait. The 10ear went up by. 20 basis points. How can you say it was. successful? the well there there is the. counterfactual of what would it have. done and we then proceeded to have the.

two most successful Treasury auctions. that we've had in 20 years and the the. US bond market that continues during. past month during since President Trump. has come in has been the best performing. bond market in the developed world and. we have Democratic Congresswoman Presley. watch what takes place here great. questioning here play this clip. >> Frank that you're on thin ice with me. because you sat here uh in the midst of. the tariffs conversation and I asked for. you to be a partner in pushing for an. exemption of baby products and you told.

me that I had a partner in you in that. in that advocacy and nothing came of. that. So twice you've come before this. committee made a commitment under oath. and you've not followed up. >> I I I would say watch this space after. uh President Xi's visit. So. >> okay I don't know what that means but. but people are struggling. You've made. commitments. You haven't kept any of. them. >> No, it it it. >> and it's outrageous. Moving on. I have a. lot of ground to cover and I I ate up.

too much of my time. Secretary Besson, when Donald Trump reclaiming my time. when Donald Trump launched the. unnecessary and unconstitutional war. with Iran, how long did he say that. would last? >> I don't rec. >> I'll jog your memory. Four to five. weeks. It's been 6 months. So, he lied. And we're all paying the costs. Since. the war started, gas prices are up 52%. Yes or no? Are you aware of that? Uh, gas prices are up. >> Gas prices are up 52% since the war. started. Are you aware of this issue? Yes or no? >> From what to what? I I think that's not.

a good number. >> Okay, I'm going to take that as uh a. yes. You're playing like you don't know. But you know, okay, Secretary Bess, >> working people reclaiming my time. Secretary Bessent, working people are. paying more for utilities now than they. were 5 years ago. More than 40 20% more. Are you aware of that? I I am aware of. that. >> Okay, moving on. Secretary Besson, people are also paying over three times. more on health insurance. Have you heard. about this issue? Yes or no?

>> Uh, I am aware that Obama failure. >> Yes or no? Are you aware? >> You can ask me. >> Stop filibustering and stop acting like. you don't know what the facts are. Moving on. >> Answer it. >> Secretary best. More from Democratic. Congress member Heimmes pointing out. that the Trump regime is the most. authoritarian communist regime in the. United States history and they rip away. your healthcare also. They're a. communist regime that steals your. healthcare. Here, play this clip. But. can we agree, just yes or no here, can. we agree that communism substitutes the.

control of the government and the. ownership of the government over the. hand of the free market? Is that a. reasonable working definition of. communism? >> Yes. >> Okay. Good. Good. So, can you think of. any other administration since Franklin. Delano Roosevelt that has taken equity. stakes, government ownership in 39. companies? That's a figure by the. council on foreign. Can you think of. another administration that has the. United States government owning 39. American companies? Uh, Congressman, as.

you said, since Franklin Roosevelt that. we we are the uh in in a the fight of. our life. It's a simple question. >> No, no, no. It's for strategic. industries. We have had market failures. The Biden administration completely. >> Okay. Okay. Okay. Mr. Chairman, I I have. five minutes here. >> I'm not going to argue with you on. whether that's a good idea. I happen I'm. a free market guy, so I think it's a. terrible idea. Tariffs are a Mr. >> That's why that's why we have no. critical minerals. That's why the.

>> Mr. Secretary, I do have a question at. the end of this. The government now owns. 39 companies. The government has imposed. tariffs. I don't like tariffs. Whether. you think they're a good idea or a bad. idea, they are an intervention in the. free market. Uh uh you yourself did a. massive intervention in probably the. most important market to the capital. markets, which is the treasury market. The president recently $5,000 for a. vote. Now, you could in the legal world. that would be called a bribe, but you. could think of it as an intervention in. political markets. And by the way, I.

have no doubt that if I walked down. there right now and said, "I will pay. you $5,000 if you focus your buying on. the three-year Treasury," that. conversation would end with me in. handcuffs. But the question I have for. you, Mr. Secretary, relates to your. intervention in the markets. And I'm not. going to ask you to agree with me here, but I can think of no administration in. the last 50 years that is quite as. communist as the Trump administration. Constant interventions in the operations. of the free market. We then heard from. Congresswoman Maxine Waters, who was not.

putting up with Bess's filibustering. Here, play this clip. If tariffs are not inflationary, as you. claimed in your previous testimony, then. why has inflation increased by more than. 3% over the past year? Do you deny that. inflation is too high at 3%? Yes or no? >> Representative. >> Yes or no, Mr. Secretary? They're not. making Yes or no, Mr. Secretary. Believe. the tariffing my time. Tariff leveling.

my time. Reclaiming my time. Claiming my. time. Reclaiming my time. Reclaim. I I. didn't hear you, Mr. Hill. What' you. say? >> I said it's the gentle lady. >> Does the time belong to the gentle lady? >> Indeed. >> Indeed it does. And so that's not good. enough, sir. You. >> We heard from Democratic Congress member. Torres. He did a good crossexamination. of Bessant. Let's watch it. Secretary, how can you possibly declare that the. K-shaped economy is over when during. President Trump's second term, the.

assets of Wall Street are booming while. the real wages of Main Street have. barely grown? >> Well, it's the opposite of President. Biden's term because there was No, no, let me finish. >> When When does Can I ask what's the. statute of limitations on the Joe Biden. blame game? >> That the What's What's the. >> Because we're approaching the two-year. mark of the Trump administration. >> I I was in a car accident as a teenager. My back still hurts. Did did Joe Biden. wage the war in Iran? Did he disrupt the. straight of Hormuz? Did he shut down. 1/5if of the world's oil supply and LG.

exports? >> Like when in doubt, blame Joe Biden. Is. that the motus operandi of this. administration? >> I back. >> Expired. Gentleman yields back. The. chair recognizes the chair of the house. >> More from Bessant over here trying to. claim that it's actually not a trade war. with Canada. He said it's Carney who. calls it a trade war, but we don't view. it that here in the United States. Let. me show you what went down. play this. clip. So, how does a trade war with. Canada, one of our closest allies, help. help the American people? >> Well, first of all, it was Prime.

Minister Carney who said we are at war. >> Sure. The question is, how does a trade. war with Canada, one of our closest. allies, help the American people? >> Sure. The the terms of the terms of. trade that the Canadians have received. the four years, they have been the. unbalanced and imbalanced and trying to. bring them back. So, how does that help. the American people? >> That the that will help the American. people the as the we have better terms. of trade that there will be more jobs as. we we just saw Saporro Brewery Japanese.

brewer announced that they were. relocating into the US that helps the. American people. >> So, that's one example. Hopefully, we'll. you'll be able to. >> There many examples. >> Well, sir, would you send me a list. then? >> We then heard from Democratic. Congressman Casten. Let me show you what. happened here when he said, "So Donald. Trump claims that we are bringing in all. of this Venezuelan oil money and all. this other money from other Venezuelan. assets. Who are the we? You're the.

Treasury Department. Is this money. coming into the United States? Where is. the money? Show me the money, Bessant.". And Bessant's like, "I can't tell you. where it is right now. We're not going. to tell you. What is it in a Qatari bank. account? Is Donald Trump pocketing it? Who knows what the hell's happening with. the money? Where's the money, Bessant? Here, play this clip. >> Um, what is the total amount of money. associated with the sale of Venezuelan. assets that's flowed through Treasury. accounts or accounts managed by Treasury. since January?

>> Uh, that just a minute. We we are not giving out the total. amount of dispersements. >> I'm I'm asking for the total amount of. money. President Trump said in July that. it was more than 13 billion. Would you. agree that it was more than 13 billion. in July? >> Again, they I I'm not going to give out.

that amount. >> Uh okay. Has Treasury hired an. independent auditor to review those. flows? >> Uh that KP KPMG. >> Okay. Thank you. >> All dis all dispersements are subject to. KPMG. And will their and will their. audit review the flows through the. Qatari managed account that was. initially set up? Will their audit. review the Qatari flows? >> Uh KPMG is reviewing everything since. they have been hired. >> Would will that include the Qatari. flows? >> Again, >> Secretary Rubio said it would. I'm just. asking you to confirm what Secretary.

Rubio. >> and I agree with Secretary Rubio because. state is. >> Okay. Have you personally reviewed any. of their audits? >> There have been no audits published yet. >> So have you reviewed their work. products? What's that? >> Have you reviewed any of their initial. work? The. >> my staff reviews them every day. >> Okay. Are do you know are any of the. cash flows that are flowing flowing to. the US government, US persons or US. corporations? >> Uh I have no knowledge of that. >> Okay. Because President Trump said on. July 27th, we've paid for that war many. times over. We're taking in a lot of. money, billions and billions of dollars.

from Venezuela. Who is the Wii that he. is referring to? Well, I I think. President Trump may have been referring. to the oil deal that the Department of. War has done with Venezuela, >> but but he he he seemed to imply that. we, the United States people are taking. in money to offset those costs. >> Uh. >> that would suggest flows to US persons. >> Uh again, that this is the one one of. the largest uh assets that maybe ever to. go on the the US balance sheet. Congress. >> and and well, okay. Are the accounts.

that the Treasury is managing tied only. to the sale of oils or are you also. taking control of other Venezuelan. assets? Uh. >> it is many Venezuelan assets. >> So you've asserted control over. Venezuelan assets. I know Interior. recently said they're taking control of. Venezuelan gold sales. So we're also. taking control of those assets and the. dispersions. Yes. >> And you can't testify as we sit here. whether or not those are flowing to US. persons. >> Uh no. Um, can you identify where or. what US bank those funds are being held?

>> Uh, no. >> Secretary Rubio had indicated that they. were being held by City Bank. Do you. dispute what Secretary Rubio said or do. you not know? >> I agree with him. >> Um, is City Bank earning any fees or. other charges on those deposits? >> I'm I believe that they are likely. earning their traditional fees. Then you. had uh Congress member Vargas. cross-examining Bessant about how Donald. Trump's $5,000 handouts, which are not.

really even going to happen, right? Trump steals your loaf of bread, dangles. breadcrumbs, and then doesn't give it to. you. But in any event, wouldn't giving. people $5,000. um wouldn't that increase the deficit or. debt? And Besson's like, "Oh, we're. trying to study that right now. We're. going to do a study on that." Here, play. this clip. You win with us. and you get $5,000. >> So, is that a good idea?

>> Pardon me. >> Is that a good idea? >> Uh, yes. >> Why? >> I I I think it's a good idea for the. American people to they keep more of. their money. >> So, they get 5,000. Does that hurt the. deficit or the debt? Does that increase. the deficit or does it increase the. debt? the I I I believe that there are. ways to do it without increasing the. debt or deficit. >> Why don't you go ahead and tell us then. because it doesn't seem like that's been. the case so far. >> Uh that is in process right now. >> So it's somehow mysteriously or.

magically going to occur. >> You can't tell us, you can't give us. >> I'm not ready to discuss it at present, but at Treasury, we've been working on. it for quite a while. >> The reason I say this is because we hear. this all the time that in fact this is. going to reduce the debt. Reduce the. debt. I remember when President Trump. used to talk about how outrageous the. $24 trillion debt is. Now, of course, it's at 40 trillion. So again, we hear these miraculous. things that are going to happen and they. don't seem to appear. But since we are. >> more from Besset refusing to answer very.

basic questions of Congresswoman Waters, let's play it. >> seven just yesterday. In fact, the. 10-year Treasury hit 5%. Mr. Secretary, do you agree that these high Treasury. yields or interest rates on Americans. bonds means that loans paid by families. to fix a roof or buy a car will also be. expensive? Yes or no? >> Uh the the US bond market has been the. best performing or secretary in the.

world. Yes or no, Mr. Secretary. recording my time. Reclaiming my time. recording my time. Reclaiming my time. better than the past. Reclaiming my. time. You keep talking. I'll keep. reclaiming my time. And I'm asking you, Mr. Secretary, turn it to your trade. policy. If. >> then Bessant dismisses the historically. low economic sentiments. That's. Democrats. The Democrats are manipulating the. survey. Sh. That's what's going on here. Play.

this clip. Did Did you attend the uh. midterm uh convention in Texas last. weekend? >> I did. >> You did? Okay. Um I'll tell you, I saw. two things at that convention. Number. one, u it's a little bit like you. quoting the um Atlanta Federal Reserve. uh as a GDP projection for the third. quarter. Atlantic Federal Federal. Reserve has a GDP projection that is. double what the survey of professional. forecasters is saying it will be at. 2.5%. So, I saw a lot of happy talk. about the economy, which by the way is.

political malpractice. When the American. people, and this is in the Michigan. consumer sentiment survey, see consumer. sentiment lose 20 points since the. beginning of the Trump administration, you have a political problem. I don't. expect you to comment on that, but you. have a political problem, which is why. my friends on the other side of the. aisle are not talking much about the. economy today. >> Congressman, there's a survey problem. because Democrats are now poisoning the. survey. M. >> Mr. Secretary, you're better than that. Reclaiming my time. >> I'm data driven. >> Reclaiming my time. It disappoints me to.

see somebody of your stature use the. word conspiracy in the Congress of the. United States. Like they're like the bad. like the bad guys and these like our. cartoon villains. Who the hell are these. people? Then you have Tom Emmer, the. MAGA Republican Congress member in. leadership in the House of. Representatives. And so he rushes on to. this podcast earlier today and he's. like, "It's so unfair. The Democrats are. talking about affordability and they're. just cherrypicking. We're booming. Our.

economy is doing so great. The mega. Republicans, we're booming. No, you're. not. What are you talking about? Play. this clip. >> And I'll tell you what, we're not all. the way there yet, John. There are. challenges in the economy. But here's. here's the thing. There's a ton of good. news going on. I mean, it's uh they. choose the word affordability in my. humble opinion because it's just another. word for the economy. The election is. always about the economy. And in this. case, you pick affordability because you.

can now pluck out the trees that you. want to focus on. We're going to focus. on gas prices. Probably the best thing. that they can focus on. Why? because we. don't fill our tank every day, but we do. drive by that sign every day, John. So, we're reminded regularly. And by the way, it really doesn't help. to tell them that we're still well below. where the highest gas price got in the. the Biden era for at least the uh the.

regular and unled stuff. The uh but price of eggs is down to. prepandemic. amounts. So, why don't we talk about. that? Oh, no. We're going to talk about. beef cuz beef is uh is higher. So yes, they are trying to manufacture that same. thing on our side. But here's the. problem I have. While perception needs. to catch up with the reality of this. economy, there you have it everybody. Let me know what you think. This is why. we need oversight. This right here is. why we need it's why we need Congress to.

be in session for this reason. I showed. you earlier what went down in the Senate. with Cash Patel being cross-examined, Bessence being cross-examined. We're. gonna keep bringing this to you here at. the Midas Judge Network so you see. what's going on for yourself. Thanks for. watching. Hit subscribe. Let's get to 7. million subscribers. Appreciate you. Before you go, our book WTF America is. available for pre-order now. It's the. story of how we got here and how we. fight our way back. To pre-order, scan. the QR code or click the link in the. description. Let's do this.

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