Live data from Hacker News

Mystery jump in oil trading ahead of Trump post draws scrutiny

bbc.com

51–60 of 419 posts

Re: Mystery jump in oil trading ahead of Trump post draws scrutiny

#51

I'm growing pessimistic that this kind of activity + the egregious presidential-level crypto scams will never see justice. What's the path for that, really?

For starters, you're not alone in this feeling. A lot of us are very hungry for justice, and a lot of the Trump administrations current tactics are openly grappling with the reality of jailtime and restitution if they lose power. These are unusual times, and so people who are not usually inclined toward retribution are hungry for it.

That said, it's hard to reconcile that with the fact that Democrats continue to be the opposition party, and failed to even imprison Trump over four years for the things he'd done. And even in the best case scenario, we wouldn't expect Trump himself to live long enough to face much justice.

The optimism left in me hopes that this era can serve as an enduring cautionary tale for future societies.

Re: Mystery jump in oil trading ahead of Trump post draws scrutiny

#52

I'm growing pessimistic that this kind of activity + the egregious presidential-level crypto scams will never see justice. What's the path for that, really?

Zero when the president has the power to issue blanket pardons to his family and inner circle. Hell, he might even extend it fully to ICE. There's precedent too since the previous president pardoned his son for all crimes committed over a period of time.

The president can't issue pardons for state convictions, so: prosecute offenders at the state level for state crimes.

Re: Mystery jump in oil trading ahead of Trump post draws scrutiny

#53

I'm not smart enough to understand why - but surely this isn't sustainable? At some point wont the price not reflect the reality of simply not having gas to put in your car? What is going on... The price of oil went down 10% yesterday, opened +0% today and is back to +4%...

It's beyond simple supply and demand. This was in response to a social media post that had a tenuous relationship with reality (or 'fluid' as the Whitehouse now calls it).

Re: Mystery jump in oil trading ahead of Trump post draws scrutiny

#54
post #10

[flagged]

Yeah, you're right. Guess we shouldn't talk about what's happening now or do anything to address it.

Not what I'm saying, but this has happened _so many times_ and nothing has come of talking about it so far. I would love to see things change, but in this specific instance I'm not holding my breath

Re: Mystery jump in oil trading ahead of Trump post draws scrutiny

#55

I'm growing pessimistic that this kind of activity + the egregious presidential-level crypto scams will never see justice. What's the path for that, really?

You are completely right. There are no avenues to seek justice here because the levers of power control the justice. And if the holders of power change, they won't spend political capital on this kind of thing. It's free crime.

Re: Mystery jump in oil trading ahead of Trump post draws scrutiny

#56
post #48

I'm growing pessimistic that this kind of activity + the egregious presidential-level crypto scams will never see justice. What's the path for that, really?

Revolution, not election. We need a new governance framework in the US. I believe it’s genuinely silly to think this type of activity is limited to one party or one administration or that it is new. I believe the Constitution and related artefacts should be stored in the British Museum with other historical documents. Civic religion needs to be done away with.

>We need a new governance framework in the US.

And what does that new framework look like to you?

Re: Mystery jump in oil trading ahead of Trump post draws scrutiny

#57
post #41

I'm growing pessimistic that this kind of activity + the egregious presidential-level crypto scams will never see justice. What's the path for that, really?

Donald Trump has one big advantage over many other members of the administration: He will be long dead before the justice system can act on him. Also something to keep in mind in the future: Old people have no reason to fear prison, they will die before they can get convicted.

Partly why I'm against anybody over retirement age taking office even if it is a heavy handed approach and could be seen as age discrimination.

The odds are too low of anybody getting meaningfully punished while they get to openly setup their entire family for generations using means and information not available to any normal citizen.

And while not guaranteed they are statistically more likely to suffer age related cognitive decline while still in office.

Re: Mystery jump in oil trading ahead of Trump post draws scrutiny

#58

I'm growing pessimistic that this kind of activity + the egregious presidential-level crypto scams will never see justice. What's the path for that, really?

I think it's likely that they'll see justice in a chaotic way, ie not connected to the specific crime. Most likely outcome is that they make huge paper profits that are then absolutely worthless because the dollar collapses and the property rights that enforce the wealth they gained from these transactions disappear as the government is toppled. Another likely outcome is that they get in the habit of doing criminal things that piss people off, piss the wrong person off, and then get offed.

There was an AskHistorians post about the French revolution a few years ago that really stuck with me:

https://www.reddit.com/r/AskHistorians/comments/w18qt5/what_...

> Stability had hardly been a hallmark of the Revolution til that point, and really what we have seen is a revolving door of men rising to the summit of power, only to realize that once your head is above the rest it's a prime target for the guillotine. Of the early years of the Revolution, virtually any man who had been considered a leader was either dead or in exile. The King was executed in January of 1793. The Girondin, formerly indistinguishable from the 'left,' went en masse to the guillotine in October 1793. Danton & friends (dubbed by Robespierre 'the indulgents'), the literal authors of the Insurrection of August 10th which overthrew the King and declared the Republic, the 'giant of the Revolution,' had been executed in April 1794. Interspersed with these prominent deaths were hundreds of individuals who had been important players in the Revolution, whether in national or local politics, and who had now paid the price for their notoriety

In times of crisis and scarcity, the usual outcome is that anyone whose ego is big enough to think that he can lead or profit finds that they become a target for elimination. The folks who survive are the ones who focus on, well, surviving. We're headed for one of those times of crisis now, though most people don't want to admit it, and a lot of the people who are profiting off ill-gotten gains now may find that they don't live to enjoy it simply because it gives them a taste for profiteering that eventually makes them take stupid risks.

Re: Mystery jump in oil trading ahead of Trump post draws scrutiny

#59

I'm growing pessimistic that this kind of activity + the egregious presidential-level crypto scams will never see justice. What's the path for that, really?

Elections and a collectively demonstrated will for justice.

Elections are already being used for collectively applying "justice", just not the type that stops corruption. Instead it's right wing mob "justice" against the woke and immigrants and all the liberal tears are the prize the braying mob that voted for autocracy wants and they're happy to accept corruption as long as they don't think it affects them. Democracy is the worst form of government, except for all types we've tried.

Re: Mystery jump in oil trading ahead of Trump post draws scrutiny

#60
post #10

[flagged]

Yeah, you're right. Guess we shouldn't talk about what's happening now or do anything to address it.

That isn't very nice. OP never suggested we shouldn't talk about this topic, only that we all know this has been happening for a century.

Legislation has been introduced to address this exact problem. Edit: Polymarkets should be hevialy regulated or made illegal. In fact, they were illegal, until someone found a loophole.

Stop Insider Trading Act (House): Introduced by Rep. Bryan Steil, this bill aims to prohibit purchasing publicly traded stocks, requires 7-day notice for sales, and imposes penalties for violations. It is supported by GOP leadership.

Restore Trust in Congress Act (Senate): Introduced by Sens. Kirsten Gillibrand and Ashley Moody, this bill bans trading/ownership of individual stocks and requires divestment within 180 days of enactment.

Post reply on HN