Damn… he just made it all make sense.

Sec. Scott Bessent just Educated MSNBC on Air how the US made Money in the Argentina Deal

MSNBC: "How does a $20 billion bailout of Argentina help Americans?"

BESSENT: "Do you know what a swap line is?"

MSNBC: "It's a currency swap. Yes."

BESSENT: "But what is that? Why would you call it a bailout?"

BESSENT: "In most bailouts, you don't make money. The us government MADE MONEY. The government's going to make money..

In short, Argentina did not get $20B free and clear… the US turned a potential crisis into a low-risk arbitrage play.

The US made money on the $20B Argentina swap through interest premiums (Argentina pays above-market rates to borrow dollars) and peso appreciation gains (the Treasury bought pesos cheap before the deal, then profited as the currency stabilized post-announcement). Unlike bailouts, this ESF-funded swap is self-sustaining, risk-free, and already booked GAINS.