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2019-10-19 12:13 by Karl Denninger
in Podcasts , 122 references Ignore this thread
Corruption Update (Podcast)
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References:

https://dailycaller.com/2019/10/17/hunter-biden-burisma-ukraine-china/

https://www.foxnews.com/politics/hunter-biden-paid-80g-per-month-while-on-board-of-ukranian-gas-company-report

https://www.vanityfair.com/news/2019/10/the-mystery-of-the-trump-chaos-trades

https://www.newsweek.com/devon-archer-trump-meme-joe-hunter-biden-1462879

CME has claimed it performs "surveillance" of trades and sees nothing wrong.  Maybe.  Let me cite their PR:

These transactions were entered into by a significant number of diverse market participants.

So what?

Does it matter how many participants were involved?  I would think not.  Further, if the assertion by the former SEC dude on CNBC holds, it's not even illegal under present law, so if there's one person or a bunch of them all piling in on the same side, even if there's some sort of organization between them, that doesn't necessarily mean a law was broken!  This, however, doesn't go to the actual question: fundamental fairness, and the fact that for everyone who wins in a futures trade someone else loses; when you have these "binary" event deals and people are on the winning side, if they're on the winning side by a statistically-improbable percentage of the time the presumption is that they know something ahead of everyone else.

Whether that's illegal is a an entirely different question -- just like, one might ask, how Hillary many years ago managed to made a series of profitable cattle futures transactions in sequence that, statistically-speaking, were approximately as likely as my being hit by an asteroid at 2:14 PM this afternoon.

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