As you’ve probably seen the last days, there has been a headline going around the internet: FED officials are banned from trading stocks, bonds and also cryptocurrencies.
Obviously there were many complaints and many that thought this should have been introduced long time ago.
I personally think it’s a good decision, as they are the ones who have a word in the way the economy is going, so it wouldn’t be fair if they were allowed to trade prior to their own decisions (unfair advantage).
Also, last year there were controversies regarding some positions traded by them right before the COVID measures to help the economy.
What’s your opinion?
Tell me in the comments below.
Dope!
Next up, congress.
“Well. We’re about to crash anyway. So. Sure we won’t buy anymore stock”
This is a good move, but I do not think it will stop them from trading because they will probably find a way to circumvent the rules.
There is a theory that all this is because they know we are at/ nearing the stock market top, so this gives them an excuse to sell without worrying the market.
It should be illegal for politicians to. But in regards to FED employees, its insane they have had the opportunity to basically control which way the markets move and buy stocks.
What about congress?
I’ve worked in various big companies, and suspect this will hold true to politicians as well….
When they say banned, they just mean, you will be fined if caught. And you can 100% guarantee they will continue to do whatever they want, if profit losses work out. If you’re getting fined 1,000,000 for doing trades the resulted in making 10,000,000, you will not be deterred from just paying your fines. And many municipalities are a-ok accepting this new income stream, so nothing really changes.
Companies and politicians need to know they will be shut down and prosecuted if they violate these laws. It should ruin them like it would ruin a simple pleb breaking the law.
Next up:
TERM LIMITS
Don’t think it’ll be good for price action imo, if they can’t play I wouldn’t be surprised they wouldn’t want others to play either so in return more harder regulations since it doesn’t effect them.
Just out of curiosity, and I will admit I haven’t researched the subject, but can they slyly get people to trade on their behalf?
” hey _insert random person or potato here_ , could you please take this money and buy _insert random asset here_ for me? Cool, cool, cool. Thanks my man.”
FED official: Sir…I had a boat accident
Now they can turn the tax rate for profits through the roof so ultimately the joke is on us
Whelp banned now. Guess we better dump everything we got at the low before we printed all this $
I am sure they would have a loophole that will allow them to still trade. Probably just smoke and mirrors.
it should be legal in the first place; now do congress.
Bullish on Monero
Fantastic
Nancy is not happy
Its a good start. But its more about enforcement than statement
Not a good move, in my opinion. People should be able to do whatever they want with money. The only “fairness” should be in the opportunity to participate in the economy.
There was a sudden spike in signups for my defi trading course… Lots of IP address from Washington DC
Could go both ways, but it does make sense as more govs and bigger institutions have expressed their interest in cryptocurrencies.
About damn time!
But their husbands totally can trade right?
Can they at least buy ETFs?
If I was forced to spend everything I earn, I’d quit any position straight away. Regardless of pay cut or loss of political influence.
Portfolios are more powerful for an individual than any job title.
Power lays in freedom.
This is definitely fair! Just like athletes can’t bet on their own games
I can’t believe they have been allowed to all this time.
That won’t stop them…
Probably a step on the right direction, but it won’t stop then from letting their friends and families in on insider knowledge.
Not their wife or children.
And the number of ratholes was increased three fold that day.
*AOC hangs up her cape in her closet*
“Today was a good day for justice”