Bessent Says US to Stick with Bretton Woods Institutions

The Breakdown

Nathaniel Whittemore

Investing, Business

4.8 • 786 Ratings

🗓️ 25 April 2025

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

NLW discusses market reactions to US tariff negotiations, potential tariff reductions with China, and Bretton Woods institutions facing criticism from the Trump administration for mission creep. He explores Bitcoin's reduced volatility, increased institutional adoption—including the controversial SoftBank-Tether Bitcoin venture—and ends on Trump's meme coin gala announcement driving speculative crypto behavior. Sponsored by: Crypto Tax Calculator Accurate Crypto Taxes. No Guesswork. Say goodbye to tax season headaches with Crypto Tax Calculator: Generate accurate, CPA-endorsed tax reports fully compliant with IRS rules. Seamlessly integrate with 3000+ wallets, exchanges, and on-chain platforms. Import reports directly into TurboTax or H&R Block, or securely share them with your accountant. Exclusive Offer: Use the code BW2025 to enjoy 30% off all paid plans. Don’t miss out - offer expires 15 April 2025! Ledger Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.2	What's going on, guys? It is Thursday, April 24th, and today we are talking about the
0:23.1	remaking of Bretton Woods. Before we get into that, however, if you're enjoying the breakdown,
0:27.3	please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper
0:30.8	into the conversation, come join us on the Breakers Discord. You can find a link in the show notes
0:34.8	or go to bit.ly slash breakdown pod. Well, friends, tariffs continue to be the most important driver in markets, but a relatively
0:42.6	quiet day in the headlines led to one of the least volatile trading sessions of the month.
0:47.0	Stocks opened strongly after the latest news of de-escalation was digested overnight, but
0:51.4	paired back gains throughout the day.
0:53.7	Bitcoin traded in a tight range around
0:55.3	$93,000 as traders waited for the next move from the administration. The Indian trade delegation
1:00.4	was in town for their turn at the negotiating table. Economic Affairs Secretary A.J. Seth said
1:05.2	that the first order impact of U.S. tariffs would cause GDP to drop between 0.2 and 0.5%. Something he called not a huge impact.
1:13.2	However, he added that, quote, the second order would be important. The second order is if the
1:17.7	global economy grows less than expected. Bloomberg reports that the bargaining chips on the table
1:21.9	are the removal of tariffs on bourbon and high-powered motorcycles. Similar to the idea of importing
1:27.1	American trucks to Japan, it seems like this administration to the idea of importing American trucks to Japan,
1:28.8	it seems like this administration likes the idea of Harley Davidson's on the streets of Mumbai.
1:33.3	Perhaps more importantly, the Wall Street Journal reported on a rumored policy shift on China
1:37.4	tariffs. They characterized the move as a, quote, bid to de-escalate tensions with Beijing that
1:42.2	have roiled global trade and investment.
	...

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