“War Is a Racket!”
The famous short book by Major General Smedley D. Butler, printed in 1935, described war as nothing more than profiteering for bankers and corporate interests.
It’s message rings true today.
Banking cartels profit at the expense of innocent lives on all fronts.
As the Israel-Hamas conflict continues, U.S. defense stocks soared in response.
“Shares of Lockheed Martin, Northrop Grumman, RTX and General Dynamics all rose as investors speculate how the U.S. made aid its ally which could include ordering more weapons,” Fox Business reports.
“Shares of Lockheed Martin, Northrop Grumman, RTX and General Dynamics all rose as investors speculate how the U.S. made aid its ally which could include ordering more weapons.” pic.twitter.com/J9VUG70dXk
— Chief Nerd (@TheChiefNerd) October 11, 2023
Per Fox Business:
The Israeli leader has previously said that the war against Hamas will be “long and difficult.”
Hamas terrorists struck Israel over the weekend in the deadliest attacks the country has experienced in decades. Israel’s government has launched airstrikes on the Hamas-controlled Gaza Strip and is mobilizing military reservists in preparation for a response, while Hezbollah – an Iran-backed terror proxy based in Lebanon – has expressed support for Hamas and remains a threat on Israel’s northern border.
Shares of General Dynamics, which makes submarines and combat vehicles, rose the most since March 2020 when it gained over 9%, according to Dow Jones Market Data Group.
Lockheed Martin makes F-35 fighter jets as well as Sikorsky and Black Hawk helicopters.
The fiscal 2024 National Defense Authorization Act is asking for a 3.3% rise in U.S. defense spending to $886.3 billion, while analysts at Bank of America predict the U.S. Department of Defense’s discretionary spending will shoot past the $1 trillion level by fiscal 2026.
Many U.S. Congress members financially benefit from these defense stocks.
Most of congress has stock and takes PAC money from these. pic.twitter.com/JijQ1X5dH2
— Ted (@ted_macie) October 11, 2023
According to financial news outlet Finbold, “US congressional leaders have been making some strategic investment moves into military-related stocks.”
X account @unusual_whales provided insight into what stocks Democrats and Republicans purchased.
“Congress has been buying war stocks. Many bought defense company $GD, General Dynamics,” unusual whales noted.
“Numerous Republicans bought heavy into oil + energy companies, with buys in $XOM, $DVN, $CVX. Democrats bought cybersecurity like $FTNT. These companies lobby Congress heavily,” unusual whales added.
BREAKING: Congress has been buying war stocks.
Many bought defense company $GD, General Dynamics.
Democrats bought cybersecurity like $FTNT.
These companies lobby Congress heavily. pic.twitter.com/0JUKURNmMT
— unusual_whales (@unusual_whales) October 8, 2023
*Screenshots from unusual whales X post*
Now, there’s no ignoring the fact that these companies lobby Congress with gusto. Lobbying, in many ways, serves as an avenue for corporations to communicate their perspective and interests to policymakers.
Taking a closer look, some of the notable members who’ve entered the fray include Republicans Michael McCaul (Texas), Kevin Hern (Oklahoma), and Michael Guest (Mississippi), with the latter acquiring up to $15,000 of XOM in August. Among Democrats, Fankel (Florida), Richard Larsen (Washington), and Walter Schrader (Oregon) stand out.
The market is a reflection of geopolitical events, and those with the right foresight can harness its potential. As they say, it’s about ‘buying the rumor and selling the news.’ Congressional moves, while subject to scrutiny, can often offer a finger on the pulse of where the ‘smart’ money might be heading.
“Here is every US politician in Congress who currently holds stock positions that directly benefit from war in the Middle East,” unusual whales posted Tuesday.
BREAKING: Here is every US politician in Congress who currently holds stock positions that directly benefit from war in the Middle East:
— unusual_whales (@unusual_whales) October 10, 2023
My report is coming soon. Be ready.