Connect with us

Published

on

President-elect Donald Trump namedhedge fund mogul Scott Bessentas the next Treasury secretary on Friday, ending a rough-and-tumble race that saw fierce jockeying among power players across Wall Street.

I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States, Trump wrote in his announcement, posted on Truth Social.

Scott is widely respected as one of the World’s foremost International Investors and Geopolitical and Economic Strategists, the president-elect said of this Treasury pick.

Bessent “got the thumbs up” late Thursday during a meeting with Trump, 78, at his Mar-a-Lago resort in Palm Beach, Fla., one source close to the situation told The Post.

A flurry of last-minute media reports had floated several candidates for the job. Late Thursday, the Wall Street Journal reported that financier Kevin Warsh had met with Trump on Wednesday about the Treasury post — and possibly replacing Jerome Powell as Fed chairman when his term expires in 2026.

Trump also met about the Treasury role with Marc Rowan, the billionaire boss of buyout firm Apollo Global Management, at Mar-a-Lago earlier this week.

Bessent, the 62-year-old founder of Key Square Group, has repeatedly backed the president-elects pro-tariff stance in a series of op-eds and media appearances over the past year.

Scott’s story is that of the American Dream, Trump said Friday, noting that Bessent has long been a strong advocate of the America First Agenda.

On the eve of our Great Country’s 250th Anniversary, he will help me usher in a new Golden Age for the United States, as we fortify our position as the World’s leading Economy, Center of Innovation and Entrepreneurialism, Destination for Capital, while always, and without question, maintaining the U.S. Dollar as the Reserve Currency of the World, he added.

Unlike in past Administrations, we will ensure that no Americans will be left behind in the next and Greatest Economic Boom, and Scott will lead that effort for me, and the Great People of the United States of America.

A source close to the Trump transition team told the Post earlier on Friday that the hedge fund executive was “being vetted” for the role ahead of a formal announcement.

“If you want to bring a genius into that job who is loyal to the president, Scott is the right guy,” one source close to the situation said.

One faction of Trump World had been pushing for Bessent for weeks, trying to outmaneuver Howard Lutnick — the CEO of Cantor Fitzgerald and co-chair of Trump’s transition team — in what had reportedly escalated into a bitter “knife fight” for the coveted role.

One insider, speaking on condition of anonymity, said Lutnick, a fundraiser for Hillary Clinton during the 2016 election, was eventually handed the post of Commerce Secretary “to calm things down.”

After Lutnick exited the Treasury race, sources said Trump continued to do interviews to hash out his options. Bessent and Rowan were both spotted at Mar-a-Lago on Wednesday.

“All the top investors and hedge funds said Scott Bessent is their number one pick because of his understanding of macroeconomics,” said one veteran Wall Street insider.

A source briefed on Rowan’s interview, meanwhile, said the 62-year-old was “an anti-tariff guy and that was a non-starter for the president.”

Another staunch Trump loyalist and major donor, billionaire hedge fund boss John Paulson, ruled himself out of an administration post just one week after the Nov. 5 election.

A native of South Carolina, Bessent previously served as chief investment officer for George Soros and was instrumental in the Hungarian-born money man’s “Black Wednesday” trade in 1992.

The bet against the British pound “broke the Bank of England”, raking in an eye-watering $1 billion payday for Soros that cemented his reputation as a titan of global finance.

Writing in the Wall Street Journal earlier this month, Bessent said Trump’s second presidential term would usher in “a revitalized economy for all Americans.”

Bessent also lashed out at the Biden-Harris administration for presiding over four years of “reckless spending” that has seen Uncle Sam’s debt pile hit an eye-watering $35 trillion this year.

“The Biden administrations mismanagement has created serious challenges that Mr. Trump will need to overcome,” Bessent stated in the Nov. 10 op-ed, adding that Trump “has a mandate to re-privatize the US economy through deregulation and tax reform to spur the supply-side growth that he delivered in his first term.”

Large parts of Trump’s 2017 tax cuts expire next year, giving Bessent the chance to help shape fiscal policy under the incoming commander-in-chief.

My Administration will restore Freedom, Strength, Resilience, and Efficiency to our Capital Markets, Trumps announcement continued. We will reinvigorate the Private Sector, and help curb the unsustainable path of Federal Debt.

As a lifelong Champion of Main Street America and American Industry, Scott will support my Policies that will drive U.S. Competitiveness, and stop unfair Trade imbalances, work to create an Economy that places Growth at the forefront, especially through our coming World Energy Dominance, he added. Together, we will Make America Rich Again, Prosperous Again, Affordable Again, and, most importantly, Great Again!

The president-elect has already tapped Tesla titan Elon Musk and biotech entrepreneur Vivek Ramaswamy to lead a new Department of Government Efficiency and tighten up the federal government’s purse strings.

Diana Glebova contributed reporting.

Continue Reading

US

Snipers, Secret Service sweeps and a personal chef on standby: Scotland awaits Trump’s arrival

Published

on

By

Snipers, Secret Service sweeps and a personal chef on standby: Scotland awaits Trump's arrival

Donald Trump likes a wall. And now he has his very own 15ft-high metal barrier creating a fortress as he tees off for a weekend of politics, play and precision in Scotland.

An almost surreal contrast now exists in the tiny Ayrshire village of Turnberry.

On one side, the stunning coastline and luxury hotel that bears the president’s name. And on the other, an armed buffer zone with sniper teams and road checkpoints.

This visit is unlike those that have gone before.

The threat level and associated security on display is unprecedented following the attempted assassination of Trump at a campaign rally in the US.

“It would be inappropriate for me to plan an operation and not bear in mind what has happened,” the senior officer in charge of this weekend’s policing efforts told me.

Green military-type truck
Image:
Military trucks are part of a security effort that comes just a year after an attempted assassination

Fence
Black security van
Image:
A ‘counter terror’ firm was spotted near the area, which is ringed by a 15ft fence

Turnberry, and its population of about 200 people, have this week witnessed a never-ending stream of Army trucks, terrorist sweeps, road checkpoints, airspace restrictions, sniper positions being erected and Secret Service agents roaming around.

More on Donald Trump

It is the most extensive security deployment in Scotland since the death of the late Queen in 2022.

It is estimated around 5,000 officers will be on the streets, with teams coming from across the UK to assist.

The spectacle primarily centres on Donald Trump coming to play golf before the arrival of Prime Minister Sir Keir Starmer for talks, likely on Monday.

The president, whose mother was born on the Scottish island of Lewis, is then scheduled to travel to his Aberdeenshire resort where a new golf course is set to open.

Police on buggies patrol as golfers play, near the Trump Turnberry golf course
Image:
Police on buggies are patrolling near the course on Scotland’s east coast

Police lorry
Police security tape is placed across a clothes recycling bin near the Trump Turnberry golf course.
Image:
Police have even taped off a clothes recycling bin near the course

‘Trump is a decent boss’

Stephanie Campbell and Leanne Maxwell live in Turnberry and used to work at the Trump-owned resort, like many other locals.

The pair told Sky News the very first lesson staff at the resort are given is not in fine service or guest etiquette, but in how to respond to a bomb threat.

It is claimed there are posters above the landline phones in the hotel with instructions on the worst-case scenario.

Stephanie Campbell and Leanne Maxwell work at the Trump course
Image:
Stephanie Campbell and Leanne Maxwell say staff are trained in dealing with bomb threats

Stephanie told Sky News: “I had no issues working for him, he is a really decent boss.

“The last time he came there was an element of excitement, I think this time there comes with an added element of concern.

“It brings a lot higher threats and security and it’s much more difficult for everybody in the area.”

Donald Trump waves to protesters while playing golf at Turnberry golf club, in  2018
Image:
Mr Trump at Turnberry in 2018 – he will also visit his Aberdeen course on this trip. Pic: AP

A flag flutters on the Ailsa Championship Course at the Trump Turnberry Golf Resort in Turnberry.
Image:
File pic: Reuters

Echoing her concerns, Leanne told Sky News: “Security is obviously being bumped up. It’s quite worrying. He’s quite a man, ain’t he?”

Sweeps of the rooms are carried out by US Secret Service agents after housekeeping staff complete their duties and Trump’s meals, they say, are prepared by a personal chef to avoid the risk of poisoning.

To the outside world, these measures seem standard for a US president. But to those who live in Turnberry, it’s far from normal when they have a date with the commander-in-chief.

Marine One helicopter
Image:
Marine One is in place awaiting the president’s arrival

A view of the hotel at the Trump Turnberry Golf Resort. File pic: Reuters
Image:
File pic: Reuters

Awkward encounters

Prestwick Airport has become something of an American airbase in recent days.

The infamous armoured limousine, known as “The Beast”, has been spotted being wheeled out of a US military plane as the presidential motorcade prepares for his arrival tonight.

Greeting the president at the doors of Air Force One will be the secretary of state for Scotland, Ian Murray, who previously supported a motion alleging Trump was guilty of “misogynism, racism and xenophobia”.

Another awkward encounter could come in the form of Scottish First Minister John Swinney’s showdown with Mr Trump next week.

Read more from Sky News:
Trump told in May his name in Epstein files – report
Trump says US will ‘win’ AI race as plan unveiled

The SNP leader, who publicly backed Kamala Harris in the presidential race, called for September’s state visit to be scrapped after the Ukrainian president’s visit to the White House descended into a shouting match live on TV earlier this year.

Demonstrations are planned throughout the weekend, with marches and protests announced in Glasgow, Edinburgh and Aberdeen.

Kirsty Haigh, from Scotland Against Trump, claims the president uses Scotland to “cleanse his image” and he should not be able to use the country as an “escape” from his views.

She told Sky News: “He should not be welcomed by us, by our leaders.

“We want to see a Scotland that is very different than [the] America that’s being created.”

Continue Reading

US

Trump hopes to escape Epstein controversy, but story risks following him to Scotland

Published

on

By

Trump hopes to escape Epstein controversy, but story risks following him to Scotland

I knew Donald Trump when he was nothing.

Nothing like he is today, to be precise.

It was the 18 April 2006, and he had landed by helicopter at St Andrew’s, on his way to survey a stretch of Aberdeenshire coastline he was going to turn into a golf course.

He duly delivered and “Trump International” is a stunning addition to Scotland’s golfing real estate, alongside his other course at Turnberry.

Please use Chrome browser for a more accessible video player

What do Scots think of Trump visit?

Back in 2006, Trump was big time and big news.

He was the brand built on property and showbiz and, upon arrival, the star of TV’s The Apprentice breezed his way through our interview, obliging us by pointing down the barrel of the camera and delivering his trademark “you’re fired”.

We talked investment, Scottish roots and some local objections to the golf course.

More on Trump

I said it was all a bit like the film Local Hero, which likened him to the rich guy played by Burt Lancaster and he seemed happy enough.

Innocent times.

US business tycoon Donald Trump saying "You're fired" at the Old Course in St Andrews, Scotland in 2006
Image:
In 2006, the host of The Apprentice delivering his trademark ‘you’re fired’ finger point while visiting Aberdeenshire. File pic: PA

Donald Trump visits the site of a proposed golf course on the Menie Estate near Aberdeen in 2010
Image:
Donald Trump promoting his plans for a golf course on the Menie Estate near Aberdeen in 2010

Fast forward 20 years to President Trump and we are braced for his latest return ‘home’. For this son of Scotland (his mother is from the Isle of Lewis), it’s a homecoming from hell. Hellish on security logistics, at least.

You might think a trip to the old country would carry an element of triumph, wrapped in a nation’s pride. He’s the prodigal who made president, after all – think Biden, Ireland, and the rock star welcome rolled out there for one of their own.

Not so for President Trump. The dynamic’s different with the Donald – the heartland he’ll visit isn’t loved up, it’s locked down. Same as it ever was, whenever he lands in Scotland.

File photo dated 03/05/23 of US President elect Donald Trump playing golf at his Trump Turnberry course in South Ayrshire during his visit t
Image:
The US president at his Turnberry course in 2023 amid tight security. PA file pic

Former US president Donald Trump playing golf at Turnberry golf course during his visit to the UK. Picture date: Tuesday May 2, 2023.
Image:
File pic: PA

Hundreds of extra police officers have been drafted from around the country to hermetically seal his golf courses in Turnberry and Aberdeenshire. A private trip in two very public settings demands a huge security operation, complicated by an army of protestors mobilising for what they’re calling a “carnival of resistance”.

Demonstrations are planned over a range of causes – organisers cite “threats” to democracy, climate, the global economy and more.

Trump protestors on the beach near to the Trump Turnberry resort in South Ayrshire, where US President Donald Trump and first lady Melania Trump are spending the weekend.
Image:
Protestors in 2023 gather at Trump’s Turnberry resort during his visit. File pic: PA

Protesters arrive on a beach near Turnberry golf club in 2018
Image:
Demonstrations, like this one in 2018, near Turnberry require policing. File pic: AP

Simon Brodkin (aka Lee Nelson) is removed from a press conference by Republican presidential candidate Donald Trump at Turnberry Golf course
Image:
Comic Simon Brodkin, appearing in character as Lee Nelson, is led away by security during an anti-Trump protest at Turnberry in 2016. File pic: Reuters

There is no cause untouched by a president of the US and none forgotten by this weekend’s protests.

Scotland leans left of Donald Trump, and critics will lean into an effort to let him know.

It’s an awkward setting for a charm offensive by Prime Minister Sir Keir Starmer and Scotland’s First Minister John Swinney.

As the biggest show in politics rolls into town, they will polish the script on trade negotiations, wary of a president distracted, unpredictable and prone to changing the plot.

His distraction, of course, is the political drama back home.

Read more from Sky News:
Epstein questions remain for Trump
Trump knew he appears in Epstein files

Follow The World
Follow The World

Listen to The World with Richard Engel and Yalda Hakim every Wednesday

Tap to follow

Trump will welcome a weekend under the radar as an opportunity to escape the Jeffrey Epstein controversy, but there’s every chance the story will travel with him.

Daily efforts to steer the media away from the scandal haven’t stemmed the flow of persistent enquiry and revelations that cement Trump’s relationship with Epstein in the public consciousness, and so further raise questions of cover-up.

Continue Reading

US

Trump in Scotland: Escaping Epstein?

Published

on

By

Trump in Scotland: Escaping Epstein?

👉 Follow Trump100 on your podcast app 👈

The Epstein files are increasingly consuming the Trump administration, while Ghislaine Maxwell, Jeffrey Epstein’s co-conspirator and accomplice, has met Department of Justice officials and been ordered to appear before a congressional committee.

This, as the Wall Street Journal continues to reveal the alleged extent of Donald Trump’s relationship with the convicted sex offender.

Meanwhile, the president is due to arrive in Scotland to honour his mother, play golf, and meet Sir Keir Starmer and Scottish First Minister John Swinney.

If you’ve got a question you’d like the Trump100 team to answer, you can email it to trump100@sky.uk.

You can also watch all episodes on our YouTube channel.

Continue Reading

Trending