Scott Bessent
playerMoney & Finance · Nations & Geopolitics
Trump's Treasury Secretary is running the money war against Iran and backing the yen.
Who they are
Scott Bessent, US Treasury Secretary.
What they do
In August 2026 he announced an "economic D-Day" against Iran: nations financially partnering with Iran would be isolated. Treasury began "Operation Economic Outcast," adding sanctions on digital assets, gold, aviation and shipping.
How it works
Through sanctions and currency deals. After the US–Japan yen intervention on July 31 he pushed the Fed to let Japan borrow more against its US Treasuries.
Why it matters
His sanctions target the oil routes and shadow tankers Iran uses, and he is listed among the members of the Thiel–Hoffman Dialog network.
What's new (Aug–Oct 2026)
Aug 19, 2026 — Washington announced an "economic D-Day" against Iran on Wednesday evening, the BBC reported. Treasury Secretary Scott Bessent said nations partnering financially with Iran would be isolated. Trump wrote of "Economic Warfare and Isolation on an unprecedented scale," The Hill reported. (bbc.com ; thehill.com)
Aug 24, 2026 — Bessent said the Treasury had begun "Operation Economic Outcast" against Iran and those helping it, widening secondary sanctions and adding sanctions on digital assets, gold, aviation, technology and shipping, CBS reported. DW said the press conference included no solid measures. (cbsnews.com ; npr.org ; dw.com ; foxbaltimore.com ; nytimes.com)
The engine's record — word for word
[Live pass Oct 6 2026] 2026-08-19 (Wednesday evening) — BBC: Washington announced an "economic D-Day" against Iran; Treasury Secretary Scott Bessent said nations financially partnering with Iran would be isolated. The Hill: Trump wrote "Economic Warfare and Isolation on an unprecedented scale". (
bbc.com ;
thehill.com)
[Live pass Oct 6 2026] 2026-08-24 — CBS: Bessent said Treasury began "Operation Economic Outcast" against Iran and its enablers, expanding secondary sanctions and adding digital assets, gold, aviation, technology, shipping sanctions. DW: press conference included no solid measures. (
cbsnews.com ;
npr.org ;
dw.com ;
foxbaltimore.com ;
nytimes.com)
Follow the trail
in the news with
Trump Admin2026-08-19 (Wednesday evening) — BBC: Washington announced an "economic D-Day" against Iran; Treasury Secretary Scott Bessent said nations financially partnerin
in the news with
Iran / IRGC2026-08-19 (Wednesday evening) — BBC: Washington announced an "economic D-Day" against Iran; Treasury Secretary Scott Bessent said nations financially partnerin
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Jask Oil Terminal / CIPS De-Dollarization Bypass2026-08-19 (Wednesday evening) — BBC: Washington announced an "economic D-Day" against Iran; Treasury Secretary Scott Bessent said nations financially partnerin
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IRGC Smuggling Premium / Ghost Fleet2026-08-24 — CBS: Bessent said Treasury began "Operation Economic Outcast" against Iran and its enablers, expanding secondary sanctions and adding digital asset
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Strait of Hormuz Closure (Feb-Apr 2026)2026-08-19 (Wednesday evening) — BBC: Washington announced an "economic D-Day" against Iran; Treasury Secretary Scott Bessent said nations financially partnerin
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Dialog (Thiel/Hoffman Private Network)Cross-party, cross-sector registrants (Bessent/Cruz/Booker/Gabbard/Kushner/Polis/Wes Moore/Leonard Leo/Norquist; Musk/Schmidt/reid_hoffman/Chamath/Kravis/Joe Lo
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FIMA Repo Facility (2020)Aug 2026: after the Jul 31 yen intervention, Treasury Secretary Bessent publicly pushed the Warsh Fed to raise the cap so Japan can defend the yen without selli
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Jul 31 2026: US-Japan Yen InterventionA Reuters photo caught Treasury Secretary Bessent's Camp David notepad at 11:33 EDT: 'Buy Japanese Yen (JPY) $5-10 bil.' Selling euros rather than dollars signa
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