A bipartisan group of Senators just unveiled a new plan that would ban members of Congress, their spouses and dependent children from trading individual stocks.
But is this really a ban? Or just another loophole for wealthy politicians to exploit?
Here to give us the full details is a good friend and sponsor of the channel, our go-to expert on corruption and insider trading, Ross Givens.
Ross offers his expert perspective and shows you how to legally benefit from tracking these trades. Join us both on Thursday, July 25th at 3pm ET to get his latest stock pick. Click here to grab one of his remaining spots: https://turleytalksinsidertrading.com
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Are we seeing the revitalization of conservative civilization? All over the world has been a massive backlash against globalization, its leftist leadership, and its anti-cultural liberal values. And it's just the beginning. I'm Dr. Steve Turling. I believe the liberal globalist world is at its brink, and a new conservative age is rising. Join me every day as we examine these worldwide trends, discover answers to today's toughest challenges, and together learn to live in the present in life of even better things to come. This is Turly Talks. Hey gang, it's me, Dr. Steve, and you may have heard about a bipartisan group of senators who just unveiled a new plan that would ban members of Congress, their spouses and their dependent children, from trading individual stocks. It's true. Senators from both sides of the aisle have come together to tackle what's become a major issue in Washington, Missouri, Republican Senator Josh Hawley, along with a number of other senators, are outlining a new version of a measure dubbed the ethics act. That stands for ending, trading, and holdings in congressional stocks. Senator Gary Peters, who chairs the Senate Homeland Security and Governmental Affairs Committee, he pledged that his panel would take up the bill in his committee later this month, so it has some real hope of passing. But is this really a ban? Or is it just another loophole for wealthy politicians to exploit? Here to give us the full details, as a good friend and sponsor of this channel, our go-to expert on all things corruption and insider trading, Ross Givens. Ross, thanks for joining me, man. Great to see you. Hey, my pleasure, Dr. Steve. Always good to talk with you. It's always good to talk with you. So Ross, I mean, talk to us about this bill because you and I have talked at length about the corruption in D.C. and how members of Congress have made millions in the stock market by trading on inside information. So would this bill do what it claims to do? Would it finally put an end to that? I wish I could say yes. But in reading it, there are some loopholes in this bill that you could drive a semi-truck through. So on the surface, hey, looks good, right? Members of Congress, the president, the vice president, they would be forbidden from owning individual stocks while in office. The other one, spouses, dependent children also banned from trading. So that covers the most obvious one. So Senator can't just buy the stock as kids' name or his wife's name. But there's still a couple of things. So first of all, off the bat, this thing would not, even if passed, would not take effect until March 2027. So these guys are making sure they can still make millions for the rest of their current term. It's March 2027. So basically they're saying, you know, what's good for me, not for the, right? I can do it, but I'll make sure that the next guy who comes in after me can't. Right. They love to clean up. I'll make sure the next one doesn't do it. Yeah. So that's number one. That's the obvious. But the other thing here is the penalties. You know, in this country, you steal, you go to jail. You don't pay your taxes. You hit with a big fine, possibly go to jail. There has to be a consequence for violating a law. Otherwise, it's not a law. It's just a suggestion. Right. Right. And that's where this bill really falls flat. You know, the penalty for breaking this law is 10% of the value of what they bought or sold. So at least to me, and I know I'm a bit skeptical, but this is going to be viewed not as a fine as a penalty, but as a tax on insider trading. So take Pelosi right now. She is up roughly $4 million on her Nvidia trade this year on one trade. So under this new proposed law, he would pay a $400,000 fine, but she still gets to keep. Yeah. The other 3.6 million. So, like I said, I see this as a 10% tax. You know, and you and I, Dr. Steve, we don't stop working because the government taxes our wages. Right. I don't think Congress is going to stop trading for the very same reason. Right. Well, yeah, it obviously makes sense. I mean, the mentality of one set of rules for me and another set for the makes a lot of Americans, obviously very, very upset. But you might be one of the only people that I know of who's frankly not upset about insider trading in Congress because you have made a career out of following their trades and essentially using their inside information for your own benefit. And I have to say, you know, you and I have broken bread together. We shared drinks together. I mean, the part I love about you, you, you, you don't just hoard it for yourself. You actually show people how to piggyback on these trades to make money for themselves. I know some of our viewers, myself included, we get our stock picks that you send out. I think it's virtually every week. Some of them have done extremely well. I think I told you about my wife. She made something like an 87% return on one of the picks earlier this year. She was so excited. And you're hosting actually a free online training event this Thursday, July 25th at 3 p.m. Eastern, where you're going to show people how to do exactly that for themselves. Correct. That's right. Yeah. And look, it's like you say parallel economy, right? We all need to have the same advantage. The other thing I'm glad to hear about your wife's trade. By the way, we are also sending out our latest pick again. This is for free to everyone who registers. So if that time is at work for you, if you can attend, I still encourage people to register in that link below this video. That way we're going to email you the full research on our newest pick immediately to everyone. Yeah, that's actually one of the best parts about your free trainings is just the benefits you get just by registering. It's so awesome. You guys don't want to miss that. Well, Ross, tell people, give them a sense of what kind of information Congress has access to that actually allows them to make so much money trading stocks because I don't think a lot of people realize sort of the scale of this problem. Well, there's two things. So the first is just large macro economic events that are going to have a big impact on the stock market. So, for example, an easy one was COVID. Yeah. Congress gets briefed on this before the general public had any idea how bad the situation was, but they knew they planned to close businesses. They knew they planned to shut down the economy. And we all know now that caused a big crash in the market back in 2020. Well, several senators sold all their stocks before that happened. So they saved themselves millions in losses while the rest of a star retirement accounts plummet. So that's, that's the first thing. But the other part is access to information about specific companies that will make those stock prices soar. This is what opportunities are. So, I think I've told you somebody's before, but for your new reviewers, you know, Representative Catherine Clark, for example, she bought hollow logic stock in 2020, a week before the company was awarded a $119 million federal COVID testing contract. And if you want to say that's coincidence, this woman is on the committee that awarded that funding. Okay. You got Rick Allen, trading Merck and Johnson and Johnson, while he's, he's working on prescription drug price legislation. Pat Fallon buys Microsoft stock right before the government announced a $10 billion cloud computing contract with the Pentagon, right? And then, of course, Pelosi, we don't even need to get into this form. And I mean, she is the patron saint of insider trading. She and her husband have made north of $100 million with these kind of trades since he took office. But like you said, look, I know this makes a lot of people angry. But you can use it for your own advantage. And you're exactly right. You summed it up perfectly. What I do is show people how to track these insider trades and then just buy the same stocks in profit right alongside. Yeah, I mean, that's why that's what I love, how you take this corruption and you use it to help people make money for themselves, but legally and ethically no one's being brought. No one's using this to bribe you. In other words, you're just right using the same information that is often used as bribes. In DC, you find stocks where politicians and other insiders are buying them up. And then you alert your members so they can buy it up to and then basically piggyback on that. Correct. That's it. Yeah. Very simple idea. It is. It's ridiculously. It's wonderfully simple. Well, I mean, think of Einstein, E equals MC squared, right? Something so profound could be just summed up in a couple of letters and a number. I just, you know, I find it funny. I find it ironic that they name this bill, the ethics bill. Right. It is. I mean, so ironic given that it's just yet another loophole that allows Congress to make millions in a non ethical way. Yeah. And that's part of the course with Congress, unfortunately, you know that they put these cute names on bills that nine times out of 10 are the complete opposite. The Inflation Reduction Act. How does trillions in spending and printing more money reduce inflation? It does the exact opposite. It made it worse. You know, they pass the CARES Act after COVID for all it was supposed to quote provide assistance to workers and their families. Yeah. Okay. Well, this thing gave $1,200 bucks to ordinary citizens and billions to the country's wealthiest. You know, so it's just like gender affirming care, not affirming any gender. You actually is gender denying care. So, you know, look, I know I can be a bit cynical, but there are no ethics in this new bill. In fact, I was just reading something before I have to call this call with you. There's a site called quiver quant does some pretty deep research on this stuff and they did a deep dive into the house ethics committee. Now, the house ethics committee, they're the ones in charge of penalizing politicians for violating Congress's insider trading laws. Now, they rarely do. And in fact, committee members, Dr. Steve, are some of the worst offenders. Yeah. You know, according to the Stock Act, that's the one passed in 2012. Members of Congress have 45 days to report their trades. Representative John Rutherford, who's a member of the ethics committee, violated the Stock Act 152 times. David Joyce, another member, 136 violations. The penalty for doing so is a measly $200 fine. They don't care. Representative Williams. This guy just disclosed trades in 2019. He's reporting them 2000 days late. So, I think the whole thing's a joke. The ethics act. I don't think it's going to be any different. You know, look, I don't know why I'm getting worked up about this. I honestly don't care. I'm going to keep doing the same thing I've been doing since 2017. I'm going to keep piggyback in their trades. I'm going to use this information for myself. You know, our portfolio, the recommendations we've made, we tracked this is 2017. We're over 19 hundred percent down over the last seven years. So, we got a lot of members riding this corruption all the way to the bank. That's right. I love it. That's right. Making lemonade out of them lemons. And you're holding another free online training event. This is this Thursday, July 25th, 3 p.m. Eastern, where you're going to show people to do just that, where they can find the information and how to do it themselves. I can tell everybody, you know, a little bit about what to expect if they attend. Well, like you said, it is completely free. It is online so anybody can attend. And what we do is we just show people a couple of things. One, how to access the public database where you can see all these insider trades. We show people what to look for, what to look out for. Some of the things are biggest winners have had in common. You know, we've been doing us a set since 2017. We've never had a losing year. They're not, they're not all enormous. We've had some stocks with a thousand percent or more. The one I gave away January for registering for that January event we did. That thing quadrupled in four months. So, and like I said, we are giving away the research to our newest picks. So, I hope everyone can attend. It's free to join. Even if you can't, I encourage you to register. When you do, you'll automatically get an email, all the research, our newest pick, the ticker, what insiders are buying, why we like it, you can make a decision for yourself. I think it's going to be really eye opening for people to see what's out there and what kind of advantage they have available to them. Yeah, again, I mean, that's seriously just registering itself. You get all these free bonus materials. So, got nothing to lose. Just click on that link below. Register for the event. The link is in the description just below the video. Even if you can't attend, keep in mind the free training event, you'll still get that research that Ross is a newest insider stock pick. I mean, it's just amazing stuff. Guys, trust me. I've sat for Ross's free trainings numerous times. You do not want to miss this. This is amazing. The next live training event is this Thursday, July 25th, 3 p.m. Eastern. It is completely free. Just show up. Excited and hungry to learn. It's online, so you don't need to travel. Just do it from your couch. Anyone can come. I mean, there's no prerequisite to like having to know stuff about the stock market or trading or anything. No, there's not. And to be honest, the majority of our members have never bought and sold stocks before, and they join. We try to make this as simple as humanly possible. The only catch, I would say is that, as you know, the streaming software we use is called GoToWebinar. It limits us to 1,000 attendees. It's just a bandwidth thing. So, we filled these up in the past. You got to go out there and get a million, million and a half subscribers. You get too popular. I can't fit all your people in a room. So, we do tell people, just be sure to register early. So, you secure your spot, but nothing to it. Name, email, put your cell number in if you want. We'll text your reminder along with the details right before we get started. And, of course, that newest pick. So, yeah, I hope we have a big turnout again, and I can't wait to share this with people. Yeah, and that is important, Gang. There is a 1,000 seat limit, so make sure you do it right now. Do not wait. Ross's free trainings fill up fast. Anybody who's been to one knows it. So, Gang, as you can see, I mean, insider trading is a huge issue that just stubbornly remains front and center in Congress. Thankfully, we've got good friends like Ross who cuts through all the BS and highlights the loopholes for us. But more than that, he shows us how we can use our politicians corruption against them for our own benefit. You do not want to miss Ross's free training where he offers his expert perspective and shows you how to legally benefit from tracking these trades. So, join us both. I'll be there as well. On Thursday, July 25, 3 p.m. Eastern to get his latest stock pick. But don't wait again. Like I said, spots for Ross's free training fill up super fast. So, click on that link below right now. Rob, one of your remaining spots there. Ross, you're the best man. Thanks for shedding some much needed light on some pretty dark practices. It's always appreciated. I love you, Dr. Steak. You're doing God's work, man. Appreciate all you do. Love where you're right back, man. Thank you. Thanks so much for listening to this episode of the "Truly Talks" podcast. Don't forget to subscribe, leave us a five-star review, and share this episode with your friends. Help us defeat the fake news media and rank us the number one news and commentary podcast all over the world. Come back again tomorrow for another episode celebrating the rise of a new conservative age. ♪♪
