California Democratic Senator Adam Schiff, who has long promoted the unfounded assertion that Donald Trump colluded with Russia to “steal” the 2016 election, has introduced a new conspiracy theory regarding both the 45th and 47th presidents.
In a recent video shared on his social media platforms, Schiff accused Trump of leveraging his foreign tariff policies to manipulate stock markets, thereby facilitating “insider trading” that benefits himself, his family, and other officials within his administration.
Furthermore, Schiff has called for yet another investigation into the president, continuing his pattern of transforming conspiracy theories into political leverage for his party.
“Today, Trump lifted many of the tariffs he had previously imposed in this erratic, on-again/off-again policy. This has undoubtedly caused turmoil in the markets, but there is also a significant risk of insider trading occurring within the White House and the administration,” Schiff stated. “Earlier today, you may have noticed Trump tweeted, ‘This is a good time to buy.’ This raises the question: between that tweet and Trump’s announcement about reducing tariffs on most countries except China, who was aware of the president’s intentions, and did those close to him engage in stock trading, anticipating the market’s imminent fluctuations?” Schiff elaborated.
It is widely recognized among stock traders that purchasing shares when prices are low is a common strategy, as markets typically recover and stock values increase. However, Schiff seems to imply that Trump intentionally drove the markets down to gain financially.
“Consider this: we have a president who is involved in trading his own meme coin while in office, and his children are trading their own cryptocurrency. Additionally, individuals like Elon Musk are engaging in their own conflicted self-dealing within the administration,” Schiff added, although he did not provide any evidence to support claims of wrongdoing by Musk.In any administration marked by such corruption, it is imperative to inquire whether individuals have been personally benefiting from insider information while the savings and retirement accounts of the public are being devastated. Consequently, we are reaching out to the White House to demand clarity on this matter. I am fully aware that the White House is likely the least forthcoming source regarding this or any other corruption within the administration. It is essential for us in Congress to go beyond merely seeking answers, he stated.
“We must conduct the necessary oversight to obtain those answers. Up to this point, Republicans have shown reluctance to engage in this oversight, whether concerning the potential for insider trading or any other issues. However, we have been fortunate in the minority, as numerous whistleblowers have come forward with information regarding corruption within the administration,” Schiff elaborated. “Recently, I conducted a hearing with individuals who had to resign or were dismissed from the Justice Department because they witnessed corrupt activities that they refused to be a part of,” he asserted, again without providing specific details.
“We have greatly benefited from the bravery of those who have come forward. Therefore, we encourage whistleblowers to step up, but ultimately, we are determined to uncover the truth about whether individuals have profited from the suffering of the American populace,” he continued. For years, there have been allegations that former House Speaker Nancy Pelosi (D-Calif.) and her husband, entrepreneur Paul Pelosi, have profited from insider trading, as their personal wealth has reportedly increased by over $100 million.
However, Schiff has yet to advocate for a congressional investigation into the Pelosis or question whether she has leveraged her position to enrich her family.
