'Government Grift' ETF Tracking Congress Trades Could Launch This Week - Astute or Disgusting?
Posted by freedomforall 2 days, 5 hours ago to Politics
Excerpt:
"An exchange-traded fund tracking the trading activity of American politicians, individuals and companies with close ties to the US president could launch later this week, according to an analyst.
Bloomberg ETF analyst Eric Balchunas said that Tuttle Capital Government Grift ETF (GRFT) could launch as early as Friday, as the Securities and Exchange Commission on Monday set Oct. 3 as the date that Tuttle’s S-1 registration statement will become effective.
First proposed by Tuttle Capital Management earlier this year, the ETF would scan STOCK Act transaction reports to track trades made by members of Congress and their spouses.
The fund would also invest in companies with demonstrated ties to presidential influence, which may include companies with executives or directors affiliated with the White House, or businesses that receive praise from the US president, currently Donald Trump."
"An exchange-traded fund tracking the trading activity of American politicians, individuals and companies with close ties to the US president could launch later this week, according to an analyst.
Bloomberg ETF analyst Eric Balchunas said that Tuttle Capital Government Grift ETF (GRFT) could launch as early as Friday, as the Securities and Exchange Commission on Monday set Oct. 3 as the date that Tuttle’s S-1 registration statement will become effective.
First proposed by Tuttle Capital Management earlier this year, the ETF would scan STOCK Act transaction reports to track trades made by members of Congress and their spouses.
The fund would also invest in companies with demonstrated ties to presidential influence, which may include companies with executives or directors affiliated with the White House, or businesses that receive praise from the US president, currently Donald Trump."
It's not what I'd call earning anything. It's just another way to steal.
Amazing how Americans keep re-electing the same grifters election after election, without demanding term limits and an end to insider trading (among other unethical, self-serving rules concerning members of Congress).
Here's a new tax.
All Investment Income by sitting politicians, their spouses, etc... If they exceed 10% are taxed at 90% And this carries with them until the sale of the asset. So, if they held GOOG for 20yrs and left office. WHEN they sell. The compounded rate of return is calculated. Above 10% the govt collects 90% of the gains.
We need to tax the UNDESERVING RICH.
AND if you have a CHARITY that trades. That CHARITY pays the taxes at that rate for any such investments.
Called the "No Self-Serving While in Office"
With that said I notice this: "...trading activity of American politicians, individuals and companies with close ties to the US president...". Watching Trump would be a waste of time compared to watching con-gress critters - especially Democrats, IMHO. I don't think President Trump profited much "serving the people" compared to, say, the Biden or Clinton crime families or the Obamas.
I'm looking forward to this ETF as it is likely something to pay close attention to the underlying securities and why. I'd like to know who the "fly on the wall" is that can scoop up all the required data as the critters being tracked are usually pretty slippery.