Jordan Pelvort, the former financial titles broker, who embodied Leonardo DiCaprio, said in the famous film “Wall Street Wolf” that the Democrats who criticize the American president Donald Trump are only trying to “win positive points with the media and their party”.
Belfort added to the British “Sky News” network, which is “impossible” that Trump is guilty of manipulating the market.
Trump opponents say that he must answer questions after saying to a group of people, according to a video that spread on social media, that it is right to buy actions, 4 hours before the stock market increased on Wednesday, when he suspended the customs duties imposed on the commercial partners of his country for 90 days.
Belfort said that Trump’s declaration means that he was public and not just a warning on his part for some people.
He added: «Personally, I don’t find him exaggeratedly exciting, especially since he told everyone about him with a push, and if he said nothing and said 5 of his closest friends: (I will reduce the weight of customs duties. You have to buy), it would be illegal.”
Belfort said that Trump’s speech was only a repetition of what he said previously and that the purchase when the prices of the shares dropped a well -known investment step.
He added: “He was repeating all the time, and this was not the only time he said, as the Treasury Secretary Scott Beste also says so. It is a basic advice. “
The global share markets decreased abruptly, Monday; Since Trump has started to impose large -scale customs definitions on imports from all over the world, the global economy was exposed to a new shock immediately after two days when he announced the suspension of almost all 90 days.
Competitive democratic politicians affirm that Trump’s encouragement to buy “serious ethical concerns” raises and some ask for an urgent investigation if one of his families or administrative officials has benefited in advance of the treatments in the share market.
The White House said that Trump’s speech was simply reassuring the Americans “on their economic security in the face of a continuous intimidation of the media”.
It seems that the wave of high prices and the disorder of the equity markets are not yet over, and this is mainly due to the continuation of the commercial war between China and the United States; Due to customs tasks.
Belfort declared that, despite his opposition to customs duties in general, Trump’s sudden was necessary due to the “extraordinary” commercial balance of the United States, since it matters much more than exported and said: “The wealth of the United States was bleeding and its factories were private”.
He added: “The situation will not be beautiful. There will be pain, but the path we have used previously is not sustainable. It had to be changed.”
He said it is skeptical about the fears that customs duties will strongly influence American consumers, since some expect raw material prices, including popular goods such as iPhone phones if the costs are loaded to companies.
He said he believed that companies will transfer their production from China, which is in hand of over 100 %, to countries such as India and that the exemptions will eventually be agreed.
He also praised the role of the Trump’s ally, the billionaire Elon Musk, in the management of the efficiency of the government, which led to the demobilization of thousands of jobs and Belvor said: “I admire what is done, because the dimensions of abuse, waste and fraud is completely crazy”.
He added: «It’s a wonderful thing about what is happening. Obama spoke of doing it, and Clinton tried it; This is not a new idea to try to increase government efficiency. “
