'An enormous scam:' Senator accuses Trump of massive 'insider trading scandal'
Chris Murphy/X
Sen. Chris Murphy (D-CT) flagged a social media post by president Donald Trump as possible evidence of insider trading.
The president urged investors to buy as the stock market dipped Wednesday morning, saying "this is a great time to buy" on Truth Social at 9:37 a.m., but less than four hours later Trump announced a 90-day pause on nearly all of his tariffs, sending stocks soaring.
"So I have questions about the tariff announcements today," Murphy said in a video posted to X. "Who benefitted, and who made money? This should matter to you, too, because this could be an enormous scam. What we know is at about 9:30 [Wednesday], Trump posts on social media that people should buy, it's a good time to buy, and then three hours later, guess what? He announces that there's going to be a 90-day suspension of many of the tariffs."
.jpg)
Travis Gettys
April 10, 2025
April 10, 2025
ALTERNET
Chris Murphy/X
Sen. Chris Murphy (D-CT) flagged a social media post by president Donald Trump as possible evidence of insider trading.
The president urged investors to buy as the stock market dipped Wednesday morning, saying "this is a great time to buy" on Truth Social at 9:37 a.m., but less than four hours later Trump announced a 90-day pause on nearly all of his tariffs, sending stocks soaring.
"So I have questions about the tariff announcements today," Murphy said in a video posted to X. "Who benefitted, and who made money? This should matter to you, too, because this could be an enormous scam. What we know is at about 9:30 [Wednesday], Trump posts on social media that people should buy, it's a good time to buy, and then three hours later, guess what? He announces that there's going to be a 90-day suspension of many of the tariffs."
.jpg)
The S&P 500 showed the stock market gained back about $4 trillion, or 70 percent, of the value it had lost over the previous four trading days after Trump announced the suspension.
"Predictably, the market, which had been crashing, shoots up, and anyone who made investments early today likely made a lot of money, and so the question is, who close to Trump knew that he was going to suspend the tariffs?" Murphy said. "Which of his Mar-a-Lago friends or his billionaire advisers were able to capitalize on that inside information? Why did Trump send out that post to his supporters earlier in the day? The bottom line is that the chaotic nature of this tariff policy, with Trump's position changing every single hour, gives ample opportunity for any individual who has early access to information about the White House's change in position to make boatloads of money, either by investing at the right time or pulling their money out of the market at the right time."
"This entire White House is one giant grift," the senator added. "Donald Trump and his friends are in power in order to use their access to government to make money. It stinks, and we should get to the bottom of it."
"Predictably, the market, which had been crashing, shoots up, and anyone who made investments early today likely made a lot of money, and so the question is, who close to Trump knew that he was going to suspend the tariffs?" Murphy said. "Which of his Mar-a-Lago friends or his billionaire advisers were able to capitalize on that inside information? Why did Trump send out that post to his supporters earlier in the day? The bottom line is that the chaotic nature of this tariff policy, with Trump's position changing every single hour, gives ample opportunity for any individual who has early access to information about the White House's change in position to make boatloads of money, either by investing at the right time or pulling their money out of the market at the right time."
"This entire White House is one giant grift," the senator added. "Donald Trump and his friends are in power in order to use their access to government to make money. It stinks, and we should get to the bottom of it."
David Edwards
April 10, 2025
RAW STORY
Fox Business/screen grab
Environmental Protection Agency administrator Lee Zeldin insisted that allegations of insider trading were "not something to investigate" in response to allegations from Democrats.
After President Donald Trump paused many of his tariffs for 90 days, Rep. Adam Schiff (D-CA) called for members of the administration to be scrutinized.
"I'm writing to the White House to demand who knew in advance that the president was going to once again flip-flop on tariffs and are people cashing in?" Schiff said. "There is just all too much opportunity for people in the White House and the administration to be inside of trading."
On Thursday, Fox Business host Maria Bartiromo told Zeldin that Trump had urged his Truth Social followers to buy stocks about five hours before freezing the tariffs.
"Your reaction to Adam Schiff coming up with this new claim now?" she asked the EPA chief.
"President Trump has a very good team around him working on trade policy, and there are a lot of countries that are working out to the U.S. We're reaching out to the White House, reaching out to President Trump wanting to talk and enter good deals," Zeldin replied.
"President Trump should be working with this team," he added. "That's not something to investigate, something to encourage."
Watch the video below from Fox Business or click the link.
No comments:
Post a Comment