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By Mark Goodwin December 02, 2024 Trump’s pick for Commerce Secretary, Howard Lutnick, is poised to further facilitate the now long-standing, commandeered use of the Department of Commerce to engineer the rise of a global financial control system in private hands that runs on dollar-denominated debt. On November 19, President-Elect Donald Trump announced that Howard Lutnick, CEO of Cantor Fitzgerald and co-chair of his transition team, would be his nominee for Commerce Secretary. Lutnick’s company Cantor Fitzgerald and its subsidiaries are multinational in scope, promote the implementation of the United Nations’ Sustainable Development Goals (which have major implications for debt politics and economic activity), and are even directly partnered with foreign state-owned firms that recently came under scrutiny following the release of the contents of the laptop of the current (and recently pardoned) First Son, Hunter Biden. Lutnick had previously been angling for a job as incoming Treasury Secretary, an unsurprising ambition given Cantor Fitzgerald’s outsized role in the U.S. Treasury market (i.e. the U.S. government debt market) and its relationship to dollar stablecoins, which are rapidly becoming one of the main purchasers of U.S. debt. It is unknown currently why Lutnick was passed over for Treasury, despite endorsement for the position from Elon Musk and RFK Jr., and appointed to Commerce instead. However, Trump’s previous Commerce Secretary, Wilbur Ross, was widely believed to have been given the role to repay a past favor of major significance. In Ross’s case, it was his assistance in rescuing Trump from bankruptcy in the early 1990s. At the time, Ross worked for Rothschild Inc., and when clarifying why the European banking dynasty had bailed out the future President, Ross stated “the Trump name is still very much an asset.” Shortly before, Rothschild Inc. had been bankrolling the entry of Robert Maxwell, intelligence asset for Israel and arguably the Soviet Union, into the American economy, with a specific focus on New York City.