Scott Bessent

1971, and with 15, 16 trillion that we'd have. I don't know what the numbers are since W. tried it. They'd be substantial. We wouldn't be...

1971, and with 15, 16 trillion that we'd have. I don't know what the numbers are since W. tried it. They'd be substantial. We wouldn't be...

Thinking about a problem in a few years, but I think now you got to play the hand you're dealt I think we are dealt with Social Security Hand and I think maybe we could re-engineer it if we could create the sovereign wealth fund and have that on the other side There are a lot of philanthropists who are looking at baby bonds. So if you can create a some kind of a

Thinking about a problem in a few years, but I think now you got to play the hand you're dealt I think we are dealt with Social Security Hand and I think maybe we could re-engineer it if we could create the sovereign wealth fund and have that on the other side There are a lot of philanthropists who are looking at baby bonds. So if you can create a some kind of a

an investment account for newborns, then that would run on a parallel track to Social Security. So that would be compounding. The other thing would be a safety net.

an investment account for newborns, then that would run on a parallel track to Social Security. So that would be compounding. The other thing would be a safety net.

I am, and I'm excited by the idea. This is President Trump. Everything he does isn't in a straight line, but I guarantee you, he has a destination in mind. And the idea that he's going to be the first president in generations...

I am, and I'm excited by the idea. This is President Trump. Everything he does isn't in a straight line, but I guarantee you, he has a destination in mind. And the idea that he's going to be the first president in generations...

who is going to he wants to create assets for the american people not just debt yeah so he wants to take the debt down and then this idea of assets there's a lot of talk about this economic deal we're going to do with ukraine that would have gone in the sovereign wealth fund right yeah government has big stake in fannie mae and freddie mac yeah

who is going to he wants to create assets for the american people not just debt yeah so he wants to take the debt down and then this idea of assets there's a lot of talk about this economic deal we're going to do with ukraine that would have gone in the sovereign wealth fund right yeah government has big stake in fannie mae and freddie mac yeah

Where does that go? As you mentioned, Doug Burgum did great work when he was governor of North Dakota. North Dakota has the equivalent of two state sovereign wealth right and for Are they seven eight nine hundred thousand people, right? I think they had twenty five billion dollars, right and Alaska Alaska permanent they'll ask a permanent but all that's from the natural resource money going in.

Where does that go? As you mentioned, Doug Burgum did great work when he was governor of North Dakota. North Dakota has the equivalent of two state sovereign wealth right and for Are they seven eight nine hundred thousand people, right? I think they had twenty five billion dollars, right and Alaska Alaska permanent they'll ask a permanent but all that's from the natural resource money going in.

Yeah, so to the extent we start The other day when the sovereign wealth fund was announced, President Trump surprised me in the Oval and said, could you make a few remarks? And I said, well, we're going to mobilize the asset side of the balance sheet. And all the gold books said he's going to revalue the gold. I can say today we're not revaluing the gold.

Yeah, so to the extent we start The other day when the sovereign wealth fund was announced, President Trump surprised me in the Oval and said, could you make a few remarks? And I said, well, we're going to mobilize the asset side of the balance sheet. And all the gold books said he's going to revalue the gold. I can say today we're not revaluing the gold.

But what we are going to do is Doug Burgum at Interior, every other department head is looking for the assets that we can mobilize. So if we have energy leases, federal government owned, back to the housing shortage, federal government owns a lot of land in downtown urban areas. Can we, or in suburban adjacent things in Nevada and Utah, Can we use that land?

But what we are going to do is Doug Burgum at Interior, every other department head is looking for the assets that we can mobilize. So if we have energy leases, federal government owned, back to the housing shortage, federal government owns a lot of land in downtown urban areas. Can we, or in suburban adjacent things in Nevada and Utah, Can we use that land?

Oh, because you think you'd get a higher return. Right.

Oh, because you think you'd get a higher return. Right.

Yeah, I mean, not that I'm keeping score, not that I watch it closely, but the 10-year treasury today is 428. 428, yeah. So can we— It's responding well. Can we do better than 428? And I think with this group and this cabinet, and if we can put in— Right now, we're working on the study group for the sovereign wealth fund, and we want to do best practices. We're talking to people around the world.

Yeah, I mean, not that I'm keeping score, not that I watch it closely, but the 10-year treasury today is 428. 428, yeah. So can we— It's responding well. Can we do better than 428? And I think with this group and this cabinet, and if we can put in— Right now, we're working on the study group for the sovereign wealth fund, and we want to do best practices. We're talking to people around the world.