This article is part 3 of Technofascism Incorporated, an ongoing series exposing the corporate chieftains, oil barons, and Wall Street fixers who have seized control of Trump’s second-term cabinet. Together, they are building a regime where monopoly capital and state power merge to secure U.S. imperial dominance in a world slipping from its grasp.
The return of Trump has brought with it a fresh parade of bootlickers, warmongers, and corporate errand boys—all eager to carve up what’s left of the American empire like vultures picking at a decaying carcass. The latest addition to this rogue’s gallery is Scott Bessent, Trump’s Treasury Secretary, a hedge fund man through and through. He’s the kind of guy who thinks the world is best run from a Bloomberg terminal, with currency speculators like himself deciding which country’s economy gets gutted next.
Bessent is not some self-made maverick, nor a populist champion of the little guy, as Trump’s fan base might like to imagine. He’s a Yale man, initiated into the cloistered world of secret societies and elite financial networks, handpicked and polished to serve the interests of capital. His career has been a series of bets placed on the misfortunes of entire nations—a gambler, but with other people’s futures as his chips.
This is the man now holding the keys to the U.S. Treasury. And if you thought the economy was rigged before, buckle up—because the casino is now under the direct management of the house.
From Yale’s Secret Societies to Soros’s Hedge Fund: The Making of a Bagman
Let’s start at the beginning. Bessent was born into Southern money—real estate wealth, the kind of background that teaches you from an early age that wealth is not made, it’s inherited and managed. He went to Yale, the Ivy League incubator for the ruling class, where he joined Wolf’s Head, one of those shadowy senior societies where future titans of industry and government meet to sip expensive scotch and decide how to carve up the world.
After graduation, Bessent entered Wall Street’s upper echelons. He cut his teeth under Jim Rogers and Jim Chanos—one a commodities guru, the other a short-seller who profits when companies collapse. But his real education came under George Soros, the billionaire financier whose speculative raids on national currencies have left a trail of economic wreckage from London to Bangkok. Bessent was there in 1992 when Soros “broke the Bank of England,” making over a billion dollars by gambling against the British pound. That stunt wrecked the savings and livelihoods of countless ordinary Britons, but for Bessent, it was a masterclass in the art of financial warfare.
To men like Bessent, currencies, jobs, and national economies are all just lines on a screen—playthings for the wealthy. When their bets pay off, they buy another mansion; when they fail, ordinary people lose their homes.
Soros’s Protégé in Trump’s Cabinet? It’s Not a Contradiction—It’s Class Solidarity
If you’re wondering why a man trained by Soros—the supposed arch-nemesis of the Trumpist right—is now Trump’s Treasury Secretary, the answer is simple: the populist theater is for the cameras. Behind the curtain, there’s only one real ideology—capital rules.
Trump may rant about globalists, but his administration is staffed by Wall Street sharks, oil barons, and tech billionaires. Bessent fits right in. He’s not here to fight the system; he’s here to make sure the system keeps funneling wealth to the top.
Bessent represents the marriage of convenience between different factions of the ruling class—what we’ve called the Yankee-Cowboy-Digerati alliance. He’s a bridge between the old guard of East Coast finance (the “Yankees”), Trump’s fossil fuel backers (“Cowboys”), and the rising tech overlords who run our surveillance economy (“Digerati”). Trump’s second-term project isn’t about smashing the elites—it’s about merging them into a technofascist superstructure that can crush rivals abroad and workers at home.
The Treasury: Now Under Private Management
One of Bessent’s first big moves was letting Elon Musk’s so-called “Department of Government Efficiency” get direct access to the U.S. Treasury’s payment systems—a system that handles $6 trillion a year and holds the tax information of every American. In other words, Musk—already the lord of electric cars, social media, and space rockets—now has his fingers on the financial arteries of the state.
This isn’t efficiency; it’s a hostile corporate takeover. The government is no longer simply serving capital—it’s becoming capital. The line between state power and private wealth is dissolving. We’re not looking at the future; we’re looking at the return of something older and uglier: a 21st-century feudalism, where billionaires are the new barons and the rest of us are the peasants working their digital plantations. This has been termed “technofeudalism” by astute analysts.
“3-3-3”: Bessent’s Plan to Tighten the Noose
Bessent’s economic vision is wrapped up in a slick marketing slogan: “3-3-3”—3% growth, 3% oil production increase, and 3% deficit reduction. Sounds reasonable, right? Until you realize what it really means.
3% growth: For Wall Street, not for you. Real wages haven’t budged in decades.
3% more oil: Good news for the Cowboys and Exxon executives, bad news for the planet.
3% deficit reduction: Translation—gut public services, slash welfare, and make the poor pay for the bankers’ bailouts.
This is the austerity playbook that’s been deployed across the Global South for decades, and incrementally over time in the Global North—now being unleashed unfettered at home on the American working class. It’s the same logic that turned Greece into a debt colony, now aimed at Main Street, USA.
Finance as a Weapon
Bessent’s real job, though, isn’t domestic policy—it’s economic warfare. Trump’s team understands that the age of easy U.S. global dominance is over. China is rising; the Global South is restless. The Pentagon can’t bomb its way out of this one. So the Treasury becomes a battlefield.
Sanctions, tariffs, and currency manipulation—these are the weapons now. Under Bessent, expect more financial blockades against China, Venezuela, and any nation that resists U.S. dictates. Expect the dollar to be wielded like a club, and expect ordinary Americans to be collateral damage when retaliation drives up prices and wrecks supply chains.
The Real Job: Keep Capital on Top
Bessent has no personal ideology beyond what every ruling-class technocrat believes: Markets are God, and profits are holy. His loyalty is not to Trump, the nation, or any political project—it’s to the preservation of capital’s supremacy.
He’s part of a long tradition: from Robert Rubin to Henry Paulson, from the Dulles brothers to Larry Summers. These men drift between Wall Street and Washington not because they’re public servants, but because they’re capital’s enforcers. Their job is to ensure that no matter what happens—war, recession, environmental collapse—the rich get richer.
Bessent in Context: The Treasurer of the Technofascist State
Trump’s second cabinet is not an accident. It’s a blueprint for the next phase of U.S. empire—what we’ve called technofascism.
Pete Hegseth is there to sell war as reality TV.
Marco Rubio is there to remind the world that Latin America is still viewed as Uncle Sam’s backyard.
Scott Bessent is there to make sure Wall Street keeps calling the shots.
Together, they represent the ruling class in crisis—desperate to hold onto power as their empire crumbles. Their solution? Fuse finance, tech, and military power into a corporate-state juggernaut that surveils workers at home and starves nations abroad.
Bessent is not the Secretary of the Treasury. He’s Wall Street’s bagman—making sure the money keeps flowing upward, even as the rest of us drown.
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