The David Lin Report · Friday, August 14, 2026
Scott Bessent, now Treasury Secretary, is noted for his past success in shorting the Yen and his understanding of currency markets, as demonstrated during the 1990s Asian financial crisis. Thorne suggests Bessent's current actions might be aimed at preventing a Yen collapse.
“You know, who the head of the London office was? Scott Bessent. The treasury secretary today, they attacked the Hong Kong peg.”
“So when Bessent comes in and starts basically going and and in the currency market not telling anybody. I mean, Europe didn't even know about what happened until after the fact.”
“And so, you know, think about the Japanese insurance companies and the Japanese banks that have GGBs that are basically net losses right now.”