Investor Peter Schiff on Sunday accused President Donald Trump of lying about the situation in the Middle East, as Iran closed the Strait of Hormuz once again amid uncertainty.
Market Manipulation
In a post on X, Schiff delivered sharp criticism of Trump, saying that the likely reason for “Trump’s Truth Social lies” about the situation in Iran on Friday was “market manipulation.” He added that Trump’s insiders “must have made billions” from the trade. Schiff then criticized Trump as being “incompetent” or “delusional.”
$760 Million Oil Trade
Schiff’s comments come as Reuters reported on Friday that traders placed a $760 million bet on falling crude oil prices around 20 minutes prior to the Iranian Foreign Minister announcing the reopening of the Strait of Hormuz.
The report said that between 12:24 GMT and 12:25 GMT, multiple investors sold over 7,990 lots …
This post was originally published here
