Source: Common Sense
by Paul Jacob
“Were Milei’s radical reforms saved at the expense of the U.S. taxpayer? Bessant was asked this, yesterday, directly on MSNBC, and had a response: ‘Do you know what a swap line is?’ I had to brush up on it. … A currency swap is a financial agreement between two parties to exchange principal amounts and interest payments in different currencies over a set period — a temporary loan in one currency backed by collateral in another, designed to provide liquidity, hedge exchange rate risks, or access cheaper funding without the full risks of outright borrowing. ‘In most bailouts you don’t make money,’ Bessent said. ‘The U.S. government made money.’ In an exchange, both parties gain. But in any exchange involving extended spans of time, there is risk, so any initial win for Treasury could be wasted by a failure of Milei’s course.” (11/12/25)
https://thisiscommonsense.org/2025/11/12/was-milei-bailed-out/