John Paulson drops out of the running for Treasury Secretary

Hedge fund titan John Paulson is dropping out of the running for Treasury Secretary.

“My complex financial obligations would prevent me from holding an official position in President Trump’s administration at this time,” he said.

Now that’s obviously damage control as he lobbied hard for the position but seems to have lost. Last week I highlighted that he was a gold bug and if he got the job it could be good for gold.

All signs point to George Soros-acolyte Scott Bessent as the leading candidate. He’s a long-time FX and macro trader, which of course means he’s the right guy for the job.

This article was written by Adam Button at www.forexlive.com.