The Treasury Secretary had 90% redemptions from his funds when he was on his own.
Posted by The MeidasTouch Podcast, Checked
- Sources
- 4 context
- Said
- 1 time·
- Confidence
- 15%
The MeidasTouch PodcastSep 15, 2026
None of the provided sources mention 90% redemptions from any personal fund run by the Treasury Secretary, so the claim cannot be graded in either direction. The sources cover Treasury debt operations, Mnuchin-era CARES Act funds, and general money market fund redemptions in 2020, none of which addresses this claim.
What was said
… They'll probably buy it too, but you want to bring it down, moron. You want to bring it down because we, the taxpayers, have to service the damn debt, idiot. Stupid, just like dumb people. It's like basics. This is the Treasury Secretary. No wonder when he was on his own, he was a loser, and he had 90% redemptions from his funds. The guy's an idiot. Let's take a look at Congresswoman Presley here. Play this clip. Frank, that you're on thin ice with me, because you sat here in the midst of the tariffs conversation, and I asked for you to be a partner in pushing for an exemption of …
The MeidasTouch Podcast · · from the transcriptPost →What we found
Context. The sources cover Treasury securities redemption rules, debt-limit accounting, and 2020 money market fund outflows, but none reports the redemption rate of any Treasury Secretary's own investment funds.[1][2][3][4]
Context. The 'redemptions' in the sources (for example, the roughly 30% prime money market fund outflows in March 2020) refer to market-wide fund activity, not to a particular official's funds, so they do not bear on the claim.[3][4]
Context. The extraction matches the passage: the post calls the subject 'the Treasury Secretary' and says 'he had 90% redemptions from his funds' when 'he was on his own,' so the claim is faithful to the post. The surrounding remarks ('he was a loser,' 'the guy's an idiot') are opinion and are not separately graded.
Sources
4 sources: 4 primary
- 131 U.S.C. § 5119: Redemption and cancellation of currencyuscode.house.gov · primary source · cited for: context
- 231 CFR Part 375 -- Marketable Treasury Securities Redemption Operationsecfr.gov · primary source · cited for: context
- 3Money Market Mutual Funds: Pandemic Revealed Unresolved Vulnerabilitieselischolar.library.yale.edu · primary source · cited for: context
- 4Remarks of Deputy Secretary Justin Muzinich at the 2020 ...home.treasury.gov · primary source · cited for: context
Where this claim was made
Said in 1 published post
Related claims
- Treasury Secretary Scott Bessent managed a $4 billion fund that experienced 90% redemptions.Mixed
- Scott Bessent's investment fund experienced 90% redemptions in its first year.False
- The 10-year bond yield rose from 4.8% to 5.04% following the Treasury Secretary's intervention.Mixed
- Treasury Secretary Besant spent over $10 billion to lower the yield on the 10-year bond.False
- Treasury Secretary Bessent was unable to identify the location of money flows related to a Venezuela deal during cross-examination.True