Bessent's Former Mentor Druckenmiller Slams Treasury Bond Buyback Plan
"Governments defending prices against fundamentals always lose," Druckenmiller wrote.
Source: Mises Institute
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DW NOTE
Druckenmiller watched Bessent orchestrate dollar carry trades in the 1990s. Now he's watching him defend bond prices with buybacks while running a $1.9 trillion deficit and blockading 20% of the world's oil supply. One of those activities is monetary policy. The other is a futures trader mistaking Treasury for a hedge fund.