The president may not be benefiting directly from betting markets, but he has encouraged a culture that treats politics like a casino floor
Odd things are happening in the markets. Last Monday, 15 minutes before Donald Trump posted an announcement that “productive talks” with Iran had taken place, oil traders placed half a billion dollars’ worth of bets on the future price of oil. Trump’s statement triggered a drop in crude oil prices, and it seems as if some people knew that the announcement was coming, and so a profitable wager was made. Do not be envious; some people are just born lucky.
We do not know if the transactions were made with prior knowledge of political developments, but it’s a hell of a coincidence. It all appears “abnormal for sure”, an oil analyst told the BBC.
Nesrine Malik is a Guardian columnist
Discover more from Stayupdated.co.uk
Subscribe to get the latest posts sent to your email.
