Certainly wasn’t positioned for this outcome, but I also don’t why we the TL is mass coping & acting surprised about this Warsh pick. Remind me— have we not all been awe-struck by these commodities (primarily precious metals) over recent weeks? Gold rising $2000 in 5 months, and hitting a fever pitch this week bouncing around $500 intraday is terribly concerning— not a vote of confidence for this monetary system, or the USD in general (which was breaking down this week). Plainly, the combination of these moves from forex and metals forced Bessent’s hand; I don’t think this was Trump’s pick. Though I believe Trump thinks he can control Warsh (at least Warsh signalled that he could), and he looks the part… it’s that simple. So, they roll out the Hawk they can control to stop what really was a runaway train. Bessent gave us hints two days ago, we just weren’t ready to accept that as we were too busy watching gold rise $200 a day; the irony… Of course, there’s a tail risk that the admin is purely floating this as a trial to test the markets response, clear some of the speculative excesses, and stop the momentum on some of these trades. It’s in this admin’s nature…. Regardless, Polymarket will know first…