Shocker.

“We’re all derivatives.” 🛟

Trump will claim (to the Wall Streeters) that this was his plan all along and that he made them a lot of money, so they should support him.

Sharks are always sniffing around making a buck on desperate people. Tariff Refund Rights should only be able to be cashed in by the name on the importers' legal papers. Non-transferable.

what…how… is that even a thing?

Of course they are. Ugh. Just like the junk mortgages. They’re buying storage units of crappy t-shirts for 40x their value and then they’ll demand government assistance when they can’t turn a profit.

"free market"

I wonder if that includes limits on end purchaser refunds? Or are they all conveniently ignoring that possibility as a "it's too hard so the courts won't make them do that" assumption.

That's the kind of thing where you can make an 18%-24% return, same model as personal injury settlements. If you need the money now you accept the big vig and cash out.

Exactly. Probably a good deal for both sides, such as it is. Very curious what odds the purchases are buying on.

The new credit default swaps.

Had to look it up and found this. www.strtrade.com/trade-news-r...

ENRON 2.0

Looked up details on the newest grift

Is it true that Howard Lutnick's firm (now his sons') is leading the charge?

Well one of the people funding the anti-tariff lawsuit is Leonard Leo. The guy who funneled money to Ginni Thomas. The Supreme Court knows where their bread is buttered. I think the smart money says SCOTUS rules against Trump tariffs and with their benefactors.

Why not? They’re involved in every other morally corrupt venture.

A subsidiary of Canter Fitzgerald, run by Lutnick’s son.

What’s your take on the genocide Israel is committing on the Palestinians?

Why would importers sell their rights to refunds though? Quick cash?

If you need the money now, yeah.

What is the percentage?

I read only 20-30% of amount of refund.

But that was back in July. I bet they’d have to pay a lot more after Friday’s decision

Oh, that may be true since the odds of overturning just went up. Though, who knows what SCOTUS will do or how they might twist the law to give trump the win. Screws everyone else, but SC doesn't care about law or citizens.

we really need add some restrictions to wall streets gambling addiction

imagine if we treated money addiction like smoking, or heroin it really needs an image overhaul bc right now, people think it's a *good* thing

He’s not going to like it when those boys latch on because they won’t let go.

People who focus on money everyday all day and how to get more of it regardless of who they have to walk all over to get it are sick motherfuckers.

Cantor Fitzgerald. Run by a certain Commerce Secretary's sons. What an amazing coincidence

Another shocker.

Bare faced corruption

📌

omg

omg

SMH

Tariffs are enacted Businesses pay tariffs Consumers pay increased cost bc of tariffs Tariffs ruled illegal Businesses get payments back Consumers that paid the tariff costs get nothing 😶

Oh, no, I'm perfectly sure that all those nice businesses kept a careful record of who paid the tariff-inflated prices, and have a mechanism to return the money. Aren't most businesses moral?

Can someone explain the meaning of this? I don't understand.

If the tariffs are ruled illegal, all the revenue must be returned by the govt to the people who paid them. Traders are apparently buying the rights to these refunds, likely at a discount, meaning they’re betting the tariffs WILL be deemed illegal and refunded, resulting in a profit.

Thanks very much.! Sewing up mouth to contain vomit.

indeed…wow!

Some people will bet on anything.

And evidently Secretaryy Lutnick's Canter Fitzgerald is right at the forefront of this.

At what discount?

The only source I found says they’re paying 30 cents on the dollar. Seems WallStreet isn’t very certain which way SCOTUS will go on this.

Just read about this. Apparently Cantor Fitzgerald is involved which is run by sons of resident evil next door neighbor of Jeffrey Epstein and Trump's fav secretary of commerce Howard lutnick $$$

I thought this was satire. But no. Lutnick imposes the tariffs. Then Cantor offers to pay them a percentage of what they paid out. In exchange, Cantor gets 100% of the tariff refund, if Courts overrule this illegal taxation scheme.

Refund plus interest from govt. Big windfall if tarriffs get struck down. Big risk if not.

They can speculate on illegally obtained funds? Cool.

Could Congress retroactively approve the Trump tariffs, mooting the lower court ruling?

Good luck defending that with voters in '26

I don't understand how this works? What are they doing? ???

Investors offer to pay a company in advance, but for 30% of the tariffs it paid. So, companies that paid $10M since April would get $3M and not have to wait for the actual refund if they needed the money now. Some companies might take the money now. Investors would get big windfall, but it's risky.

With stuff like this and polymarket etc.the roulette wheel just gets bigger and bigger.

Next thing you know these fucking private equity fucks will be making bets on who's gonna die in the hospital and then go around pulling the plugs

I hope they lose their fucking shirts

Turning our entire economy into speculation plays

Began in the 90s, first with the legalization of market derivatives that had previously been considered gambling (incl CDOs), then w/ the repeal of Glass-Steagall. Set the table for the global debt collapse of 08-09 because so much borrowing was against CDOs based on inflated US real estate values.

And the strong selling of "interest only" loans so that more people could buy a home with little income, when it came time to pay the principal, they couldn't afford it. There were no credit or income checks done, and mortgage servicers, by and large, were unregulated and unscrupulous. Perfect storm

5/ ... those banks & insurance companies began defaulting on THEIR debts. By 2008, the entire house of cards had begun to collapse and many huge financial entities suddenly became insolvent.

4/ Foreclosures followed and "unsold inventory" of housing and even commercial real estate began increasing leading to a collapse of real estate values across the board. Many CDO investors had leverage them as "assets" & borrowed against their value & ROI. When those values & ROI evaporated ...

3/ Insurance companies & pension funds that would have been barred from making such investments prior to the repeal of Glass-Steagal, ate up these CDOs, as did hedge funds, banks, and even Fannie Mae/Freddie Mac. When the ARM balloon payments started hitting in 2007, mortgage defaults skyrocketed.

You are the first person I met on SM that understands how it rolled in the same way I understand how it rolled. I understand it because of several articles I read at the time. Most of the people I meet don't understand but assign blame to either banks or the homeowners. Just not that simple.

Few seem to know the relevant decades-long history at all, despite the fact that several books were written on the subject by Finance insiders. That's why we have "liberals" complaining that candidates advocating for New Deal style regulations are "radical leftists".

I haven't heard any Dem lawmakers say that, but nothing surprises me much in politics anymore. I've tried to explain it, but I think I get into the weeds too much. You did a very succinct but thorough job of it.

2/ Brokers then purchased these sketchy mortgages and packaged them with standard 30-yr mortgages into "Collateralized Debt Obligations" & sold them as investment instruments that were ludicrously overrated by debt-rating agencies (S&P, Moody's, etc.)

Yep, and when the mortgage defaults started to happen the investors (AIG being the big one if I recall) didn't have the money to cover. And we weren't smart enough to let them fail.

The bailout deals had begun even before the 2008 election, and Obama went along with them.

1/ Exactly. Beginning ~2002, yuppies who were eager to buy McMansions in new suburban developments (as "starter homes") were pushed into ARMs by unregulated, non-FDIC lenders (Wall St banks) - activity that had been illegal until the repeal of Glass-Steagall. This mortgage rush inflated home values.

On the horizon is #TheGreatDepressionDeux and We The People (working classes, poor and disabled) will suffer worse than the October 1929 Crash. 🚨BTW, prepare to brace yourselves as October is right around the corner.

And of course instead of deregulators and dishonest mortgagers getting blamed, it was somehow all the fault of - surprise! - POC buying homes. Because mortgagers were in some mysterious way "forced" by evil Democrats to give them mortgages.

Bullshit racism spread by and among people who willfully suck at history and economics and finance and math. I argued against that night and day during Obama's re-election campaign, citing the history of the CRA, how FDR's New Deal regulations had been destroyed, and how their math wasn't mathing

...2008 anyone?

Makes sense. A lot of importers aren't gonna want to spend the time or hassle to win that money back. I'd take x on the dollar as long as they pay cash.

What does that mean? They’re anticipating tariff refunds?

Yes. If the tariff was illegal a refund (with interest) is due

Sort of the opposite. The importers either aren't expecting refunds or don't have the liquidity to wait and see so they're selling the rights to wall streeters at a heavy discount.

If the SC upholds last week's ruling that Trump exceeded his authority with the tariffs then presumably those that already paid will get a refund.

Believe it.

Zuckerberg says "Company Over Country", Wallstreet-ers say "Money over country". We know the Trump regime is all about "Us over country".. And let's not even start talking about Republicans. I hope the American people understand their role here.

Revolutionaries, eaters of the rich

The Trump admin might have to pay all the countries he ripped off with tariffs back.

No, the US government, through our tax dollars, would pay it back. The trump skin will stay in his hands- likely out of country. Maybe check the Russian banks

🤦🏻

Makes sense

Killer trade, better than AI bubble.

But only on Canada rights.

How long have they been planning that trick? Since the beginning?

The tariffs are illegal. Congress has the authority to levy tariffs, not the President

Always follow the money! How much will Trump take in?

Anything to make a buck. So damn gross.

Not surprising. Wall Street is just gambling addicts in expensive suits betting with other people’s money and taking a cut. On the occasional crash, they get bailed out because “too big to fail.” Either way, the rest of us foot the bill.

long gold short trumps heart valves 👍

There’s the USA for ya. Ever classy. Divisive?! The 0.01% have y’all by the short hairs bit still it’s right/left, red/blue. The ppl don’t matter when it comes to making money. Look at your stock portfolio & how bad you want returns; look up every entity in the funds; stop complaining — or sell.

Vultures

Everything Trump does helps Putin... Everything

What entity sells such rights? Who is the owner of something that previously didn’t exist?? I’m so confused

The company that paid the tariffs would get cash up front, maybe only 30% of what they paid. Investors get the rights to those refunds + interest from govt. So investors get 70% and interest in profit. Some companies might do that rather than wait for refunds. Risky for investors if tarriffs stay.

Thanks for the explanation. I still have a hard time understanding this stuff, speculation. It’s weird.

This is the new swaps and derivatives

invite.bitdu.com/en-gb?invite...

Gawd, I loathe these ghouls.

Yep, that was reported on awhile back, Nutlicks SON was the first one caught investing in the potential fall of the tarriffs his DAD was orchestrating! This administration is just out in the open scamming this time

We all being extracted by Wall Street parasites.

Could you imagine investing in a security that is totally dependent on the whims of one very insecure person, wow!

Or the whim of 9 justices, given the tariffs have been declared illegal by a lower court.

Sure, but for the seditious six we know which way their whims go.

Lutnick's family. Not just any Wall Streeters. Guys who apparently have inside information.

It’s like viatical insurance for businesses. Lovely.

Continued picking of USA connedsumers pockets.

Is that good?

Large corporations buy life insurance on their own employees. Most employees don't realize this goes on.

Import refund rights? I heard Bessent say that there was so much money involved this would be impossible to do so they would have to approve the tariffs.

S Ct majority will have to give up on some of their principles to reverse, but I bet they are up to it

Awesome... they found a new way to make money fucking us all over

Commander Lawrence would be proud

open.spotify.com/track/4Isvje... You're damned right they are 🤬 It's the great American Tariff Scam!

I hope no one inside the White House is involved.

Cantor Fitzgerald is run by Lutnick's sons..... Public reporting indicates that Cantor Fitzgerald offered companies the opportunity to trade their legal claim to a future tariff refund in exchange for 20 to 30% of the duties the company paid.

Oh, I’m sure they orchestrated

Interesting! How does that work?

You offer the people due a refund a fraction of the refund value today, in cash. If they get refunded you get 100% of the refund.

It would be interesting to know if anyone in Congress was doing this...

Probably not directly. But the fact anyone would do it seems to show confidence that the Supreme Court would rule the tariffs were unconstitutional. That seems optimistic.

It's all a damn coin-toss these days, bc the wrinkled old kumquat in charge has tumbleweeds in his brain and sewage in his heart

Yes. One of those companies is connected to Howard Lutnick. There is $100BN & growing in possible tariff refunds if Roberts & SCOTUS shut Donald down. Maybe this was Donald's plan all along.

I have heard, though I haven’t been able to confirm, that cantor Fitzgerald is one of the companies.

This guy has has made an extensive thread covering this over at The Bad Place. Surprised it’s not getting more traction…

Thanks for this. I am too. Time to amplify the information.

They did the same after the revolution and civil war

Just bonkers how many high earners make money doing absolutely nothing of value.

Yup. Our best and brightest are doing finance and AI. We have to import physicians + dentists. We're brutally renditioning to torture centers the people who build our houses; same with our produce-pickers. Surveillance, stealing images, words, identities, pr0n w exes, weapons = growth industries

Yes!! It’s all gambling with a fancy name

Not gambling. It's a rug pull.

How is it not of value? The importers are selling the rights thereby shedding risk. If there were no speculators the importers would be worse off. If anything there's not enough speculators. The only persons worthy of blame are the creator of the chaos - the 🍊 man, his supporters and enablers.

"The importers are selling the rights thereby shedding risk." Which part of that feeds someone, or makes clothes? Who would be harmed if the rights weren't sold?

Soon people would be selling their rights of autonomous decision making and receive money in exchange of becoming slaves.

DO YOU HEAR YOURSELF? It is just insane that you seriously think THIS isnt INSANE

#TheBillionaireDeepState These MF’s have been shorting the American people for too long. #TheBigShort was only one piece of the corruption puzzle. bsky.app/profile/ther...

GWtRUmp

Who pays back the consumers?

lol. lmao even

The refunds will go to companies and speculators and never trickle down to the consumer who paid the higher prices. The cantillon effect.

Thank goodness we have consumer protections! Our govt would never leave us hanging like that, after tariffs were illegally assessed. I'm glad we're not a corrupt nation, where all those dollars would waft away on a misty breeze /s

So Wall St will get money from tariffs WE, THE PEOPLE paid? Sounds about right.

They probably should sell any stock they have in Ebay and Etsy because sellers are shutting down sales to US because of the end of de minimus rates. It's probably going to crush sales on both sites and cause a drop in stock prices.

forget de minimus, most postal services around the world now refuse to send anything to the US

That too. It’s all a mess

But of course they are. Grifting is the real trickle down economics these days.

At a certain point, the US decided not to bother producing or exporting enough and decided it would just juggle hypothetical money on Wall Street. Ad you can see, that worked out very well.

Capitalism! They will do anything for the prospect of a quick buck without involving any labor on their part.

Taco.