Originally published at: Truth Social’s Audacious Plan to Sell Banks Early Access to Trump’s Posts Goes Live - TPM – Talking Points Memo
The ‘Depraved Essence of Insider Trading’ An API built by Truth Social, offering financial institutions faster access to the most influential posts on the platform — Trump’s — for $100,000, has gone live. The company has struggled for years to find a business model that works. Now it proposes to distribute early access to the…
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After WWII, the economist Milton Friedman took the view that insider trading was a good thing as it brought information to the market faster. I guess you could argue the same thing about Trump’s latest scam, he’s selling the heads-up to investors in markets where the information digestion takes billionths of seconds. If an investor pays the $100,000 for this service and acts openly on that information, the value of Trump’s scam falls to near-zero for all subsequent investors when the information is already public anyway. As far as the markets and Trump announcements of the Iran War we know intensified bombings and attacks as the week wears on and then talk of peace at hand on the weekend before markets open in Asia. Gradually the information loses value as Trump’s word is meaningless. The other problem with paying for insider access is that it still won’t make you an inside-insider. Trump’s diaper-changer, teleprompter operator or members of his security guard, not to mention the gaggle of people around his various ministers and gofers, still have access to Kalshi or Polymarket before the paying insider. Sad and potentially costly if Trump gives unreliable signals.
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Again? Sure:
Is that a “special military operation?”
Has Donnie also considered naming it with the letter ‘Z?’
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So, Milt was also in favor of doping horses at the track?
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So, along with leasing his name, Trump is leasing his brain?
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Brain?
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There’s no need to purchase insider information, because this will be the schedule until Jan 20, 2029:
Friday evening: “WAR!!!”
Sunday afternoon: “INCREDIBLE DEAL INCOMING!!!”
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Market influencing isn’t enough for TCF.
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Is there a need to anthropomorphize when talking about Dear Leader?
A nematode’s “brain” is a dense, circular nerve ring at the front of the body that surrounds the pharynx. From this ring, several nerve cords extend along the body and help with sensory and motor control. (Duckduckgo reply to prompt nematode’s brain)
The world offers up a universe of possibilities!
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Insider trading erodes confidence in stock markets as they are not seen as fair or level playing fields. When Rajat Gupta, walked out of a board meeting in 2008 and called his friend Raj Rajaratnam, who traded on information about Warren Buffet’s large purchase of Goldman Sachs shares set to be announced the next morning. Rajaratnam pocketed nearly a million bucks in profits the following day. The trade was a wake-up for boards and fed the perception that markets were not really fair. I had an uncle who worked at the Santa Anita Race Track throughout the 1960s. Definitely not a level playing field.
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"It’s Sen. John Cornyn (R-TX), who finally has his off-ramp! He’s ready to greenlight Todd Blanche for attorney general after receiving “assurances.”
Cornyn’s so called moral stand amounts to a bunch of Sound and Fury signifying nothing!
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the corruption that has become endemic throughout the executive branch
Not to quibble, but this is corruption that has become endemic to the Republican Party.
This isn’t “both sides”. Republicans have crafted an organized, purposeful corruption machine, backed by government officials, lawyers, legal researchers, and rich donors.
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Some manly reporter, with tears in his eyes, has to ask him, “Sir, could we call it a second Gilded Age?”.
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The Truth API
Wanna get rich?
Subscribe to the Truth API, then make your own API to resell it for a lot less. Say, $99,999.99.
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Yes, it destroys the institution as a desirable locus for competitive investment.
It’s looking like that’s ‘a sacrifice Dear Leader is willing to make’ for his chance to cash out.
[h/t Shrek: ]
What institutions is he actually unwilling to risk or destroy?
ETA: It’s not DoJ, the Fed, DHS, the Treasury or any other government department I can think of.
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Has a new bill of rights been written to conform to Dear Leader’s cronies’ prejudices?
(@emptywheel.bsky.social on Bluesky )
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It’s just the next logical step for a lifelong malefactor; it’s been going on for years. Now that the Trumps are feeling their power and grossly abusing it as they put the muscle on ever larger prey. the frogs may finally feel the boiling water; e.g,
The Trumps have gotten pretty cocky but deciding to sue and risk discovery rather than just hand the strong-arm over to one of their cabinet flunkies or billionaire bros may be over-reach. Trump did draft an executive order forbidding ‘debanking’ on woke grounds but hard to see how that sticks. Still, it says something bad about a country when stupidly venal, vindictive trash like the Trumps not only get away with this kind of stuff but profit hugely thereby and successfully expand operations. SMHCapital One Financial hit back on Friday against a lawsuit over its decision to close the Trump Organization’s bank accounts …stating that it did so after a review by anti-money-laundering experts.
The disclosure marks the first time a bank has formally tied money-laundering concerns to Donald Trump’s family business. Capital One is seeking to dismiss the case by casting doubt on claims of illegally debanking – or denying services on religious or political grounds – the Trump Organization.
– The Guardian
When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it. – Frédéric Bastiat
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Dear Leader’s market manipulation just doesn’t stop, does it?
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