The other day, I was going through some old notes of mine, and I came across one I took about the 1MDB scandal. This is what I wrote in my notebook:
“The US Government made it clear that, even if it occurred outside its borders, it has the right to investigate and prosecute any illegal transaction and business carried out in $USD.”
Fast forward to today, almost 10 years later, what was once carrying itself around as the sheriff of the financial world now became the lead clown of the financial world. Seriously, what went wrong out there? 🤯
To a certain extent, I can understand the logic of money printing and stimmies helicopter money to boost financial asset values while sharing the bread crumbs with the population, but I cannot really understand the tolerance of financial crime to such an extent. 🫤
Take $SMCI for example; there is clearly something wrong with the parabolic move up of this stock, right (picture1 credit @TrendSpider)? Any other serious regulator out there would have halted its trading and investigated the tape, but no, the SEC doesn’t care. I wouldn’t be surprised if there is at least one group chat, on Whatsapp or Telegram for instance, where a few pros (managing a lot of money) or thousands of retails following a “guru” are coordinating trades on this name.
It doesn’t take a Master in forensic financial investigation to type “stocks trading” in Telegram as I did and start seeing what’s going on there, look at pictures 2 and 3 for example. 🤷🏻♂️
$LYFT this week was another great example of something totally wrong there. Let’s start with Alex Cohen’s “joke” here (TwitterX) that before being recognized as so was reported by plenty of MSM. Last time I checked, spreading false news that could impact the trading of a listed company was a crime and paradoxically the owner of this social network @elonmusk
got busted by the SEC because of that before (but that was another era in human history apparently). Ok ok, it was a joke, but what about the options positions before $LYFT earnings? As per traders positioning, options implied a ~18% move, yes EIGHTEEN PERCENT, and then bang 💥 you get one zero too much in the press release, and someone “wins the lottery”. 🤐
I wrote about $NVDA, $ARM, $CS , $BABA , #SoftBank , banks and plenty of other (more than questionable) cases that yes, someone would claim weren’t too obvious to the general public. But honestly, now we are getting to the point that people don’t even try to cover their trails too much anymore because in Ponzi Land, no one clearly fears punishment for doing something that is supposed to be illegal.
Read on TwitterX