There are many stories circulating regarding alleged insider trading by people in Congress who sold off stock before the crash occurred.
I would have to see actual evidence of insider information before I could endorse any charges being filed on these people.
The fact is, many weeks before the crash occurred I was warning people about what was going to happen. I tried to convince people to stock up on dry and canned goods gradually over weeks because store shelves were going to run bare. Likewise, I advocated selling stock because the disruption in the supply chain was going to cause retail and manufacturing shortfalls, resulting in large scale stock decline. Because declines in manufacturing and the supply chain in China led to decreased freight while freight was already low. A number of trucking companies in the US closed in the last quarter of 2019. This all led to an oversupply in the oil market, leading to steep declines in oil futures.
You can look back over my articles and videos from weeks ago and see where I had talked about these issues. I’m not making any of this up.
Likewise, I advised people to buy gold and silver as safe havens. Both are back on the rise and JM Bullion, one of the largest precious metals vendors in the country, is out of stock on all investment-grade gold and silver at this point. The reason prices have not increased far more substantially is because many investors have been liquidating their precious metals holdings because of losses in the stock market. I have mentioned this as well several times. So, while there is a massive buying binge on one side of this equation, others are selling significant amounts concurrently, causing first a decline in prices and then a subsequent slowing of the rise. Soon the sellers will have their holdings completely liquidated and we will see a sudden, very sharp dramatic increase in the values of metals.
Copper is an exception because it is used more industrially. The slow down in construction will depress the value for a number of months. Then I expect a sudden shift in copper values to extremely high prices. Maybe the highest ever seen. That will not happen until the crisis has abated.
Any way, the point being that if I could see the crash coming before it occurred, then others could predict it as well. It takes nothing more than paying attention. There was no insider trading information required for any of this. There is no magic, there is no shady dealing involved. In this particular case, I cannot even call it unethical. It was completely reasonable.
I do not know if the Congress members who sold off stock had been making any public statements advising constituents to buy or hold stock. Personally, I think any financial advice from a member of Congress would be unethical, whether positive or negative. They are not financial advisers and most financial advisers tied to Wall Street should not be trusted. Have you figured that out yet?