So within the next few months, Congress is going to vote on whether to ban themselves, staff, and family from trading stock. This is long past due as the conflict of interest in members owning stock in industries they are regulating is more obvious than banks being irresponsible when they regulate themselves. But why now? Yes the midterms are coming up and this could be used in TV ads for re-election campaigns. “We’re so responsible we regulate ourselves”
But with anything Congress does, what they say are the reasons for doing things are just coincidental to why they are actually doing those things. I believe Congress will pass this bill (40 years too late) for the same reason the Fed banned it’s insiders from owning stock and other assets. It gives them a plausible excuse to exit all of their positions right before the Mother of All Market Crashes happens.
The Fed insiders got out coincidentally right at the ATH of the market, and this will give Members of Congress the excuse they need to exit the markets en mass right before the biggest drop off since the Great Depression. If there is one thing you can count on, it’s Congress will always and only act in its own best interest.
My guess is they pass this by September, and the market crashes Mid September/beginning of October, just like in 2008.
PS: the market is 100% rigged and controlled by algorithms to extract the most amount of money from Retail, 401k’s, and retirement funds all for the benefit of the top .01% and govt insiders
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence or consult your financial professional before making any investment decision.
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