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The war must continue in order to bring us to the status quo that was in place before we started the war. I hope that everyone responsible for this is enjoying every cent of what they get to pay at the pumps.
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> The article specifically argues that it's extra bad beyond just corruption. That's the part I'm pushing back on. They are elected officials that are supposed to be working in our best interests, or at least the interest of their supporters. Are they making decisions in our best interests or what makes their pocket book fatter? Poisons the whole system.
The American people knew who they were electing. They knew it, and they elected him anyway. Whatever damage results from that collective decision is our cross to bear.
The warring parties greatly influence the price of oil futures but they are not the only influences, and there are other markets The losses of market participants and the gains from insiders is difficult for me to take seriously as a problem in commodities market I read all of the cases in the article
There are people and institutions, such as oil producers, who will need to sell oil at a future date. They want to lock in the price today on those future sales. There are also people and institutions, such as airlines, who have a future need for oil and would like to lock in the price today.
Oil producers sell futures simply to ensure deliver of their oil at a certain date so that someone actually shows up to pick it up.
The rest of the market is speculation, and in particular short term movements have always been very speculative and also believed to be plagued by insider trading. Airlines and oil producers do not care about minute to minute changes.
The worst part is the sharp changes in the price being traded aren't achieved by magic but rather with guns & actual human suffering
The war must continue in order to bring us to the status quo that was in place before we started the war. I hope that everyone responsible for this is enjoying every cent of what they get to pay at the pumps.
I'd like to see the base rate. Ie were there similar bets at similar times when Trump did not make an announcement
Insider trading laws are for the plebs. Tip off your cousin about an acquisition by a public company? Go to prison. Tip off your cronies about war? Business as usual.
"The U.S. Department of Justice said Wednesday that it had charged 30 people allegedly linked with a decade-long insider trading scheme involving high-profile law firms." https://www.newsweek.com/premier-law-firms-spy-ring-11920914
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> I hope that everyone responsible for this is enjoying every cent of what they get to pay at the pumps. As if the people responsible actually feel the impact of their choices to that degree.
Arguably people who voted for Trump are somewhat responsible, and include a lot of car drivers. (Not to imply that many Democrat politicians aren't also owned by AIPAC and big business.)
I say that because he had famously resisted to enter extended conflict in his first term. Maybe he wanted to but now has the chance since he’s in his final years. (At least, I hope it’s his final years.) But I didn’t hear anyone predicting this before his second term.
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>A market maker who doesn't know if their counterparty is a Trump insider looking to fleece them must ask for a bigger safety margin to cover the risk they are taking -- and not just from the insiders. Honest participants in the market get taxed in order to provide the insider payout. That's still corruption. Your argument about other participants being "taxed" applies for other sophisticated counterparties as well,…
Ah, so you were just trying to force the "set aside corruption" framing. Other than that, Mrs. Lincoln, how was the play?
Again, if you read the TFA, the entire thesis is that the insider trading is extra bad beyond corruption. The corruption itself only gets a passing mention.
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"Members of Congress outperformed the S&P 500—sometimes by huge amounts" https://fortune.com/2024/01/03/members-of-congress-profit-fr... "Congressional Stock Trading: The Law, the Conflicts, and the Push for a Ban" https://govfacts.org/accountability-ethics/ethics-conflicts-... "The 2 ETFs That Track Congressional Stock Trades" https://www.morningstar.com/funds/2-etfs-that-track-congress... The insider trading on oil…
It’s also funny when you see their performance charted against Warren Buffet’s. Looks like Warren is a rank amateur who knows very little about the markets and buying companies for the right price compared to the likes of Nancy who must be a supreme multitasker and stock picker. People have been strung up for less than what counts as business as usual in contemporary, rotten to the core, American business & politics.
Not really. Paul Pelosi was a tech investor. If you were heavily concentrated in META, AAPL, AMZN, NFLX, GOOG, etc you should have crushed the S&P and Warren Buffet too.
Famously, Warren Buffet's recent outperformance mostly came from AAPL, which was <1% of his positioning when he put it on. Imagine if it had been several percent! Such were the delights of many tech investors over the last 20 years or so.