Secrets of governments: Why congress members are so rich?
These lawmakers are either better investors than Warren Buffett, can predict the future, or have engaged in insider trading.
The yearly salary of a United States Representative is $174,000, which is not bad compared to the median annual wage in the US, which is $59,384.
But the reality shows that 50% of these lawmakers have a net worth above a million dollars. Half of these people are millionaires.
If we take the amount they make in a year it would take them around 14 years to become millionaires. Okay, fair enough. It is possible. So what about the people with a net worth of over a hundred million? Take Nancy Pelosi for example. We are talking about a very sexy amount (not sexy lady) of $115 million. Pretty good right?
In her case, it would take 661 years to get there. Still possible? Yeah, for sure. I hope we all see the problem.
So, how do they do it? I want to point something out here.
Insider Trading
This is the rule for people, who have insider knowledge about the market. Let’s say I’m a close friend of Elon Musk. One day I got a tip from him to sell all of my stocks, the day before Tesla publishes the earning reports which shows that the company’s profits are suck. Now, I’m making a bunch of money because of this.
But this is completely illegal. How it should be. Because it’s not fair at all. Now, these laws work perfectly fine with companies but how about the people who are in charge of the laws? Yep, you guessed it right. The Congress has very little to no restrictions connected to this. These people are allowed to trade stock.
Lawmakers are in a position where they hear a lot of private information. They investigate and talk to these business owners. After all, this is their job. To set rules.
But for some unknown reasons, lawmakers are able to buy and sell stock completely legally.
Data shows that senators outperform even the best investors every year. This basically means that people whose job is to make insider trading unable to happen use this advantage for themselves.
Now, let’s see some of the people who took advantage of these pieces of information and increased their wealth. I’ll take a very good example here, just to show you. The 2020 stock market crash. We are going to start with…
Kelly Loeffler
This lady is…hmmmm. Well, she did a pretty good growth. Her net worth is estimated at over $500 million.
Between February 01 and February 20, Kelly sold over 1 million dollars worth of stocks. But why? In the early months of 2020, the stock market had significant highs. Everything looked good, but then on February 20th, the big market crash happened.
It’s almost as if she knew what was gonna happen before everyone did. Strange. I’m not a conspiracy theorist, just saying. It’s a bit weird, isn’t it?
It might also be important to look a little bit at her family. Especially her husband who’s the founder and CEO of Intercontinental Exchange and Chairman of the New York Stock Exchange.
This makes things even more juicy. I’ll let you figure out the rest because I have some more people you should meet.
Richard Burr
So I’ve been looking at the publically available information and one name kept coming up: Richard Burr. He was selling like a madman between February 01-20.
It’s the same scenario. He got the insider knowledge. What’s even more interesting is that Richard Burr got investigated by the FBI but they’ve dropped the case. What we know is that Richard informed his brother about the situation as well.
It is pretty hard to prove something like this, that’s the problem with all of this.
Dianne Feinstein
Dianne was also questioned by the FBI for the same reason Richard was. It’s a bit suspicious when you sell your stocks when the whole market is doing incredibly well, and just before it is about to crash.
What did she say? It was her husband and it was only a perfect market timing. Bullshit.
As always, they couldn’t prove it, so the case was dropped. But it is so obvious, that anyone with a brain can understand what is going on.
Dianne died in 2023 on September 29th, in Washington. May she rest in piece. Most people would say that I’m an asshole for writing about her now that she passed, but I think just because she’s not with us anymore it doesn’t mean her past is clean.
Do you know what is common in these and many other senators? They all took part in a meeting on January 24th 2020 where the Senate discussed how bad the pandemic is about to get.
This is even a bit funny. They know, that we know what they are doing, and everyone knows it, but until we can’t prove it, this still remains the case.
Conclusion
The problem here is that we simply can’t do anything about it. We trust these people to control and make the laws, but they use their advantage to make themselves rich.
There is no honour or dignity left in these people.
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