Now Nobel Prize-winning economist Paul Krugman is calling what he sees: treason.
Iran’s parliament speaker, Mohammad-Bagher Ghalibaf, denied that any negotiations with Washington had taken place, calling the claim “fakenews” used to “manipulate the financial and oil markets.”
Rory Johnston, an oil market analyst, said the pattern has been hard to ignore even without a smoking gun.
“Everyone—every analyst, every oil trader—has been questioning downward pressure on prices,” he told Fortune.
Trading volumes for S&P 500 futures also spiked moments later, meaning that any potential insider got upside on both ends.
Krugman argued that insider trading on national security decisions is illegal for reasons besides unfairness: it presents a strategic vulnerability.
His Monday morning reversal, which he attributed to ongoing talks, blindsided markets—and, apparently, Iran. »