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#scottbessent

24 posts20 participants1 post today

alojapan.com/1245994/japan-pol Japan policymaker wants stronger yen, says Tokyo shouldn’t sell Treasuries #BankOfJapan #ItsunoriOnodera #Japan #LiberalDemocraticParty #news #PresidentDonaldTrump #ScottBessent #Tokyo #TokyoNews #U.S.Treasury #yen #東京 #東京都 By Leika Kihara TOKYO (Reuters) -Japan must strengthen the yen, such as by helping boost the country’s industrial competitiveness, as the currency’s weakness has pushed up households’ living costs, the ruling party’s…

Continued thread

In what must be understood as a tightening of the digital panopticon the fascist Trump regime is deploying to target migrants, the administration has negotiated an agreement between ICE and the IRS to share tax data with the American Gestapo for the purpose of facilitating mass deportations, without the consent of the IRS's acting commissioner - who has since resigned in protest:

theguardian.com/us-news/2025/a

IRS agrees to share tax information of undocumented immigrants with Ice

"A memorandum of understanding between the Department of Homeland Security (DHS) and the IRS was filed late on Monday in a case brought by immigrants’ rights groups Centro de Trabajadores Unidos and Immigrant Solidarity DuPage, represented by Public Citizen and other lawyers. The memo says Ice can request information from the IRS for its investigations into undocumented immigrants who have not left the country after receiving a final order of removal from a judge. It is signed by the treasury secretary, Scott Bessent, and the homeland security secretary, Kristi Noem.

The Washington Post reported on Tuesday evening that the acting IRS commissioner, Melanie Krause, is planning to resign, in part over being bypassed in the decision.

The lawsuit over the plans to share IRS information, filed in March, says Internal Revenue Code makes clear that tax records for all taxpayers must be confidential, disclosed only in ways authorized by statute.

“Taxpayer privacy is a cornerstone of the US tax system,” said Lisa Gilbert, co-president of Public Citizen. “This movement by the IRS is an unprecedented breach of taxpayer privacy laws – confidentiality which has been respected by both political parties for decades.”

Although every expansion of the regime's ability to hunt down and target migrants is an important stepping stone to a white nationalist dictatorship, this policy is particularly cruel and nonsensical. For starters, it deprives the US government of tax revenue because an overwhelming number of undocumented people do in fact pay their taxes. More importantly however, the US government and the IRS have been encouraging migrants to do so for decades, under the promise that this information won't be used to target and deport them. In one single agreement signed by two members of the Trumpenreich, the US government has simultaneously harmed the American people, and forced more migrants further underground, to break our collective promise to folks who otherwise would have stayed below the radar:

"The Trump administration has been working to get the IRS and Ice to agree on some information sharing for weeks, a way to use tax filings to aid in his mass deportations. The Washington Post reported on a draft of the agreement in March, citing current and former IRS workers who said the move would be an unprecedented change in access to tax records and upend immigrants’ willingness to file taxes.

“It is a complete betrayal of 30 years of the government telling immigrants to file their taxes,” one former IRS official told the Washington Post."

The Guardian · IRS agrees to share tax information of undocumented immigrants with IceBy Rachel Leingang
#Fascism#DHS#IRS

Ω🪬Ω
#TheCryptocalypseChronicles: How To Insider Trade And Influence People (With Tariffs)

Ever since the big reveal of the nonsensical Trump Tariff Equation Americans have been coming to grips with a reality in which their financial future appears to be more or less entirely dependent on a series of wild proclamations emanating at random intervals from the mind of an economically illiterate and extremely orange madman who is drunk on his own power.

This decidedly less than ideal situation has created a reality where Donald Trump can award vast wealth to his friends and followers just by sending a few late night tweets tipping them off about what he's about to say.

It just so happens that data about stock market activity bears out this theory: someone is insider trading on Trump's tweets.

Retoots appreciated.

cryptadamus.substack.com/p/how

The Cryptocalypse Chronicles · How To Insider Trade And Influence People (With Tariffs)By Michel de Cryptadamus
#uspol#tariffs#tariff

After #China unveiled steep retaliatory #tariffs on American exports on Wed, #Treasury Secy #ScottBessent issued a sharp & surprising response: “So what?”

The loss of China as an export market will deal a particularly hard blow to #agriculture in red states, hitting the voters who helped #Trump win. On Wed, Trump ratcheted US tariffs on China even higher. #Farmers are concerned that a protracted #TradeWar w/China will cut off ties w/their largest export market.

#economy
nytimes.com/2025/04/10/busines

The soybean industry is one of the sectors most concerned about tariff retaliation.
The New York Times · Trump’s Tariff Fight With China Poses New Threat to US FarmersBy Alan Rappeport

someone¹ is furiously dumping US treasuries (AKA "US debt" AKA "the most secure store of value on earth") on the open market, driving interest rates 🚀🌖 and freaking everyone on fintwit the fuck out (interest rates, which go up in response to selling pressure, don't usually move this fast, especially at this time of day).

Worth mentioning that #ScottBessent said that the goal Trump’s 5D chess move w/#tariffs was to drive the rate on the 10 yr treasuries *down* to make it easier for Americans to afford houses etc. Needles to say, up is the opposite of down.

"I used to think that if there was reincarnation, I wanted to come back as the president or the pope or as a .400 baseball hitter. But now I would like to come back as the bond market so I can scare the shit out of everybody."

- James Carville

¹ maybe China [edit] or a japanese bank that just blew up on a massive treasury position (TBD).

#bonds#uspol#eupol