Make Argentina Great Again: The US buys pesos directly

It turns out that it was never about bringing back money to America but about helping different friends. Notably, Billionaire Stanley Druckenmiller is a longtime mentor and friend of Treasury Secretary Scott Bessent and has some large investments in Argentina.

Now Bessent says:

• Treasury directly purchased Argentine pesos
• Have finalized a $20 billion currency swap framework with Argentina’s central bank
• US Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets
• Also discussed Argentina’s investment incentives, and US tools to powerfully support investment in our strategic partners
• Trump and Milei will meet on October 14

It’s all about the ‘strategic partners’ now. What’s the strategy? That’s tougher to say.

This article was written by Adam Button at investinglive.com.