You are a free subscriber to Me and the Money Printer. To upgrade to paid and receive the daily Capital Wave Report - which features our Red-Green market signals, subscribe here. Dear Fellow Traveler: I was a bit surprised… And then… like that… I wasn’t… Scott Bessent, the current Treasury Secretary and former hedge-fund manager, is reportedly under consideration for Fed Chair when Powell's term ends in May 2026. That’d be a "reverse transition"—Treasury to Fed—creating unprecedented fiscal-monetary alignment. Remember, Janet Yellen went from the Fed (under Obama) to the Treasury under Biden. This would be wild. MarketWatch is already floating a "shadow chair" scenario where Bessent could influence policy before Powell officially exits. I discussed this scenario this week. While everyone's parsing Powell's words on Wednesday for rate clues, the smart money is positioning for 2026. Trump wants his Fed Chair. He's been clear about that. And Bessent checks all the boxes:
This feels like evolution, not revolution. If Bessent's ascension is real, expect:
Now, let’s get to the week in review. Monday, June 9 The Shadow Fed ChairThe week started with a deep dive into America's backup central bank - the Treasury Department. While Jerome Powell plays tough with interest rates, the Treasury floods the system with T-bills, creating liquidity through the back door. It's the monetary policy's version of a speakeasy that's technically not supposed to exist, but everyone knows where to find it. Trump's already shopping for Powell's replacement, as if he's picking throw pillows. Tuesday, June 10 Meet Glen Mosqueda: The Next Fed Chairman?A Poteet, Texas man faces 20 years for doing what Jerome Powell calls "Tuesday" - printing money. Glen Mosqueda got caught with a car full of counterfeit bills and a warm printer, while the Fed's balance sheet ballooned from $900 billion to $6.85 trillion.
The only difference between Glen and the Federal Reserve? Scale, sophistication, and a government seal of approval. Maybe Trump should interview him... Wednesday, June 11 Sovereign Wealth Funds Are Buying Your Toll RoadWhile we're distracted by the money printer, Middle Eastern sovereign funds quietly buy up America's infrastructure with a $1.4 trillion checkbook.
That pipeline in Texas? It's printing money for Abu Dhabi. Your data center in Virginia? Qatar owns it now. These boring assets come with built-in inflation adjustments - it's like owning a business that automatically gives itself a raise every year. Thursday, June 12 Dispatches from Fort KnoxA timely pilgrimage to Kentucky reveals why central banks are loading up on gold like doomsday preppers with tax refunds.
China just logged its 18th consecutive monthly increase, adding another 10 tonnes to its hoard. When the people who create money start trading it for rocks, we should too. After all, gold is Element 79 on the periodic table - chemically impossible to disappoint you. Friday, June 13 The $3 Trillion Shadow Banking Time BombRemember how shadow banking blew up the world in 2008? Well, they're back and bigger than ever. Private credit has ballooned into a $3 trillion monster with no regulation, no transparency, and insurers have pumped $800 billion offshore into this black box.
Moody's is warning, but everyone's acting like it's fine. I've seen this movie before - it ends with someone saying "nobody could have seen this coming" right before the bailout. Saturday, June 14 Central Banks Just Showed Their HandGold overtook the Euro as the second most important reserve asset, now comprising 20% of global central bank reserves. Pay attention when the magicians who print money start buying real rabbits because they know the hat trick is failing.
This isn't subtle - it's the people who issue fiat currencies screaming "WE DON'T TRUST OUR OWN PRODUCT" while hoping you don't notice. Central banks are stacking physical gold like doomsday preppers at a Costco bullion sale. I’ll be back tomorrow live at 8:45 ET for full updates on what’s happening with the Federal Reserve. The central bank will meet on Tuesday and Wednesday… Let’s see if people in the media finally realize that the Treasury Department is driving the bus… and not the Fed anymore. Stay positive, Garrett Baldwin About Me and the Money Printer Me and the Money Printer is a daily publication covering the financial markets through three critical equations. We track liquidity (money in the financial system), momentum (where money is moving in the system), and insider buying (where Smart Money at companies is moving their money). Combining these elements with a deep understanding of central banking and how the global system works has allowed us to navigate financial cycles and boost our probability of success as investors and traders. This insight is based on roughly 17 years of intensive academic work at four universities, extensive collaboration with market experts, and the joy of trial and error in research. You can take a free look at our worldview and thesis right here. Disclaimer Nothing in this email should be considered personalized financial advice. While we may answer your general customer questions, we are not licensed under securities laws to guide your investment situation. Do not consider any communication between you and Florida Republic employees as financial advice. The communication in this letter is for information and educational purposes unless otherwise strictly worded as a recommendation. Model portfolios are tracked to showcase a variety of academic, fundamental, and technical tools, and insight is provided to help readers gain knowledge and experience. Readers should not trade if they cannot handle a loss and should not trade more than they can afford to lose. There are large amounts of risk in the equity markets. Consider consulting with a professional before making decisions with your money.
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