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Trump and cronies may be manipulating markets for gain

Posted by / January 27, 2020

A potentially-damning series of articles in Vanity Fair have suggested that Trump and his inner circle may be intentionally manipulating markets for their own gain. The article suggests that traders may have knowledge of Trump’s tweets and outbursts beforehand, giving them an edge when the markets react.

Late last year, chief of staff Mick Mulvaney said on Fox News that Trump “still considers himself to be in the hospitality business.” That was obvious when Trump named his own resort as the location of the next G7 Summit.

Before he awarded himself the G7 Summit, Trump was awarding himself other contracts. In Spring of 2019, an Air National Guard crew took a routine trip from the United States to Kuwait, bringing supplies. But on this particular trip, something unusual happened: the crew stopped at a Trump resort outside Glasgow, Scotland––both ways. The House Oversight Committee is currently investigating why the Air National Guard C-17 stopped in Scotland as part of broader investigations into how government stays at Trump resorts. A recent New York Times investigation has revealed that Trump entered a partnership with an airport near his Scotland resort. That, as it turns out, is why that National Guard plane stopped at that airport.

The House Oversight Committee has sent letters to the White House, the Trump Organization, the vice president’s office, and the US Secret Service questioning Mike Pence’s stay at Trump’s Ireland resort, as well as Trump’s plan to host the G7 summit at his Florida resort. The committee wrote that it “does not believe that US taxpayer funds should be used to personally enrich President Trump, his family, and his companies.”

Pence’s stay in particular was troublesome because all of his meetings took place across the whole country, about three hours away. Many critics are accusing Pence of downright corruption.

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