Some people want to call capitalists greedy especially when they make a lot of money. Let me ask a different question. What do you call someone who forces a capitalist to sell part of the business he/she built so that that someone can take the money?
Elizabeth Warren, is that greed also? Or is it robbery?
How about forcibly taking real money from someone as a percentage of the assets they own, have not sold nor made any money from? Is that greed? Or again is that robbery?
I think most people would call wealth taxation like this to be outright theft. Well, not the socialists. Not Elizabeth Warren. And Warren sits on Senate committees like banking and finance.
Most socialists do not know what a business is, have never run one, have never had to make a payroll and most, at best, have barely worked for one. Socialists see the government as the center of all economic activity. They do not seem to realize that the government takes. The government does not create economic activity.
Warren’s understanding of how economics works received another jolt recently. Warren, who likes to make it appear that she is on top of financial issues that could negatively affect Americans taxpayers, got smacked down by Treasury Secretary Scott Bessent.
The issue had to do with stabilization of the Japanese yen. In July 2026, the United States and Japan launched a rare joint currency intervention to strengthen the Japanese yen after it hit a 40-year low against the U.S. dollar. The effort, led by the Trump administration, was done to protect U.S. Treasury holdings overseas and to keep the global economy stable.
Apparently, Warren sent Bessent a letter some time ago claiming that she had ‘serious questions’ about foreign exchanges happening under Trump. One of those questions was about “The mechanisms through which Treasury executed the yen purchase…” According to Warren, “those mechanisms raise serious questions regarding the costs to American taxpayers.”
Bessent was not amused. Here is part of his response from X.
In her latest sciolistic letter to me, @SenWarren made it clear that she knows even less about foreign exchange markets than she does about banking.
What is equally shocking, but not surprising: not a single member of the media mob has a rudimentary-enough level of financial market literacy to spot her remedial error.
To reiterate: under @POTUS, the United States delivers for America’s trusted partners.
For a fuller explanation, I recommend Senator Warren take any entry level course in international finance for her and her staff, or I can personally give her a tutorial on Foreign Exchange for Dummies. Although I am not holding my breath, I hope her next letter will demonstrate that she has learned the difference between a currency purchase and a swap or a loan.
Warren, like all other TDS afflicted socialists, spends her days trying to find any excuse to attack this administration. There never was any loan involved. Did Warren actually not know this? Did Warren learn her finance from the Learing Center?
The monies used were part of the Exchange Stabilization Fund (ESF) which was created in 1933 under the FDR administration. In this case euros were exchanged for yen. Again does Warren not know what the ESF is for and how it works? Warren is the ranking Democrat on the Banking committee.