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Video of Trump Bragging About Enriching His Billionaire Pals Draws Outrage (www.commondreams.org)

submitted 8 months ago by pelespirit@sh.itjust.works to c/politics@sh.itjust.works

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Nitter link to video: https://nitter.net/MorePerfectUS/status/1910340290260463771#m

The market surge added over $300 billion to the collective wealth of the world's top billionaires in a matter of hours, according to Bloomberg. Shortly before announcing the tariff pause, Trump posted to his social media platform that it is a "great time to buy" stocks, prompting accusations of market manipulation.

A video clip of U.S. President Donald Trump openly boasting about enriching his billionaire friends is drawing outrage as the administration faces growing scrutiny for possible market manipulation and insider trading in the aftermath of his partial tariff pause.

"He made two-and-a-half billion today," Trump said in the Oval Office on Wednesday, just hours after announcing the pause, "and he made $900 million."

"That's not bad," the president added.

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[–] Blue_Morpho@lemmy.world 52 points 8 months ago* (last edited 8 months ago) (2 children)

There is nothing "choose wisely" about getting an insider tip from the President.

[–] Karyoplasma@discuss.tchncs.de 30 points 8 months ago (2 children)

Even if the average American got the same tip, there is no way they could have made even close that much.

You need to be a soulless parasite, grifting and leeching for decades prior to have the capital to cash in that big from an insider tip.

[–] Steve@startrek.website 4 points 8 months ago

Futures with intraday margin is a hell of a drug

[–] NarrativeBear@lemmy.world 1 points 8 months ago

With the fear of a resession or depression, many average Americans more then likely panicked and withdrew their investments understandable.

This caused the markets to go down, and then simultaneously allowed investors and trumps buddies to buy up stocks "at a discount".

Now the people hit the hardest are the ones that withdrew when the markets were already down.

Sell low and buy high is definitely not the recommendation.

[–] pennomi@lemmy.world 8 points 8 months ago

Yes, wisely was a poor choice of word. The intent of my post was on “stealing” not on “wisely”.