Hunter Biden is Guilty, But Who Cares?

This guilty verdict is so unsatisfying [Morning Reckoning] June 13, 2024 [WEBSITE]( | [UNSUBSCRIBE]( Hunter Biden is Guilty, But Who Cares? Asti, Northern Italy June 13, 2024 [Sean Ring] SEAN RING Good morning Reader, I admit, I wasn’t fussed about the whole Hunter Biden conviction. But I couldn’t understand why. I mean, they finally got a Democrat on something. But Hunter Biden is such a dirtbag; gun charges don’t do him justice. No, this isn’t the same as getting Al Capone on tax evasion. It’s more like getting Lex Luthor on a jaywalking charge. Let’s not mince words. Hunter is a crackhead who shagged his dead brother’s wife. That may be immoral and unethical, but it’s not illegal. Ok, smoking crack is illegal, but being a crackhead isn’t. It’s a slight distinction, all the same. Biden describes the affair in his unintentionally ironically titled book Beautiful Things: I was at my lowest, she was at her neediest, and we clung to each other with abandon. We talked at length about how much we had come to rely on each other, how our health and well-being seemed dependent on the love we’d grown to share. “It was an affair built on need, hope, frailty, and doom,” he adds. Ewwww… But really, we needed to get Hunter on what he’s really done wrong: being a target for blackmail by foreign powers. How did he do that? By playing fast and loose with his “jobs” overseas. For instance, Junior Biden's involvement with Burisma has been a subject of much debate and speculation. Hunter's appointment to the board of Burisma in 2014, while his father was the Vice President of the United States and involved in U.S. policy on Ukraine, was an example of nepotism or an attempt to gain influence through family connections. That’s not illegal, but it opened Elder Biden to much criticism and potential blackmail. After all, why else hire the unqualified son of the US Vice President? That’s why people have speculated Hunter’s involvement with the company was part of a broader pattern of corruption or influence-peddling. To be fair, Junior Biden has denied any wrongdoing. He stated that he was qualified for the position based on his experience as an attorney and a board member of other organizations. Alas, a conviction for a big-picture crime didn’t happen. But to get to the heart of my apathy over Biden’s conviction, look at this X thread: Credit: [@Chesschick01]( I think the world of Thomas Massie. He’s an MIT graduate who’s also a libertarian. By his voting, he demonstrates time and time again that he puts people’s freedom first. But I disagree with him on this point. After all, why have laws if we don’t abide by them? [Make These 3 Money Moves Before Biden STEALS Billions June 13]( Hundreds of billions of dollars could be [STOLEN any day now…]( In fact it could happen as soon as Thursday, June 13th. Biden has made a move that cannot be reversed… And as a result, America will never be the same. [Click here to make these 3 money moves in order to prepare.]( [LEARN MORE]( Biden’s Conviction Let’s look at why Biden was convicted: Hunter Biden was recently convicted on three federal felony charges related to a gun purchase in 2018. These charges include lying on a federal screening form, lying to a gun dealer, and illegal possession of a firearm as a drug user. Inevitably, Biden and his defense team expressed disappointment with the verdict, indicating plans to appeal the decision. The special counsel, David Weiss, emphasized that the conviction underscores the principle that no one is above the law. We’ll talk about this point later. Biden lied on a federal screening form when purchasing a gun in 2018, falsely stating that he wasn’t using illegal drugs at the time. This “misrepresentation” occurred despite his ongoing struggles with drug addiction, which he later acknowledged publicly in his memoir and other statements. The lie was an attempt to avoid legal disqualification from purchasing a firearm that applies to illegal drug users or addicts. By falsely answering "no" to the relevant question on the background check form, he was able to buy the gun, which formed the basis for his conviction. The case is cut and dried. He’s undoubtedly guilty. Just the pictures of him with a crackpipe in his mouth would’ve done him in. But if you understand libertarians like Massie, you can see why he thinks the whole trial is bogus. Libertarians and Guns Libertarian theory on gun ownership is rooted in the principles of individual liberty, personal responsibility, and limited government. Libertarians generally believe that individuals have the inherent right to own and bear arms for self-defense, property protection, and as a safeguard against potential tyranny. Key points of the libertarian perspective on gun ownership include: Individual Rights: Libertarians believe self-defense is a fundamental human right. They argue that everyone should be free to own firearms to protect themselves, their families, and their property from threats, regardless of their personal habits, traits, or behaviors. Minimal Government Intervention: Libertarians advocate minimal — or zero if you’re of the anarcho-capitalist variety - government interference in personal affairs, including gun ownership. They argue that regulations and restrictions on firearms ownership infringe on individual freedoms and are ineffective in preventing crime. Second Amendment: In the United States, libertarians strongly support the Second Amendment of the Constitution, which guarantees the right to keep and bear arms. They view this as a critical check on government power and a means to ensure a free society. Self-Responsibility: Libertarians believe that with the right to own firearms comes the responsibility to use them safely and responsibly. They advocate for education and training in firearm safety rather than restrictive laws. Deterrence Against Tyranny: A fundamental aspect of libertarian thought is the idea that an armed populace can serve as a deterrent against potential government overreach and tyranny. They argue that disarming citizens can lead to increased government control and diminished freedoms. Massie’s view makes complete sense when considering where they come from. Nevertheless, this time, I think the conviction was justified. Elon’s Take I somewhat agree with Elon’s take. As I mentioned, the conviction was correct. But what Elon alludes to is spot on. Hunter Biden almost certainly “took bribes,” not in the paper bag sense, but in the nepotism baby hiring at Burisma. Or even better, [the “art” he sold for $1.5 million](. That’s not a bribe, technically. But anyone can buy fingerpainting to launder the bribery. “You swirl some paint on the canvas, and I’ll pay $150,000 for it!” “Great idea! I took art in junior high school!” Chesschick01 Hits the Nail on the Head She’s got it in one. The gun charge has nothing to do with the President. Hunter is the sacrificial lamb in this case. After Trump’s sham of a trial, the left can claim “no one is above the law” by getting the younger Biden on three federal gun charges. Isn’t the justice system fair? Give me a break. Wrap Up In May 2022, [NBC News]( wrote: From 2013 through 2018 Hunter Biden and his company brought in about $11 million via his roles as an attorney and a board member with a Ukrainian firm accused of bribery and his work with a Chinese businessman now accused of fraud, according to an NBC News analysis of a copy of Biden’s hard drive and iCloud account and documents released by Republicans on two Senate committees. The documents and the analysis, which don’t show what he did to earn millions from his Chinese partners, raise questions about national security, business ethics and potential legal exposure. In December 2020, Biden acknowledged in a statement that he was the subject of a federal investigation into his taxes. NBC News was first to report that an ex-business partner had warned Biden he should amend his tax returns to disclose $400,000 in income from the Ukrainian firm, Burisma. This guilty verdict is so unsatisfying. It’s like going to Peter Luger’s and getting served a Big Mac. All the best, [Sean Ring] Sean Ring Contributing Editor, The Morning Reckoning feedback@dailyreckoning.com X (formerly Twitter): [@seaniechaos]( [Ex-CIA Insider: “Prepare for Election Meltdown”]( [Click here to learn more]( After correctly predicting the Great Recession of 2008, Trump’s 2016 Election and the Covid Crisis of 2020… Former advisor to the CIA, the Pentagon and the White House Jim Rickards… Is now warning everyday patriots like you to prepare for a historic election meltdown. [Click here to learn the five steps you need to take because things are about to get ugly](. [LEARN MORE]( In Case You Missed It… A Speculator's Paradise Turns Sour Greg Guenthner, Editor [Greg Guenthner] GREG GUENTHNER Good Morning Reader, The paint isn’t even dry on the freshly-split NVIDIA shares and the financial media is already crowning it as the next big addition to the Dow. It’s all just speculation at this point. But if NVDA keeps pace with its historic run, it would certainly be a welcome addition to the industrials. After all, NVDA just casually added another trillion bucks to its market cap as it stacks up a gain of nearly 40% over the past four weeks. As the crypto kids like to say, number go up. Speculators have no problem chasing NVDA higher as summer approaches. Sure, there are other distractions — mainly a meme-stock resurgence that’s bubbled up over the past several weeks. But even GameStop (GME) and other potential squeeze trades have hit the skids. Aside from whatever semiconductor is hogging the attention on any given day, the market’s gotten pretty darn quiet… perhaps tooquiet. Daily trading volume continues to dwindle this month. And the S&P has gone 328 trading days without a 2% one-day decline, CNBC’s Michael Santoli notes. That’s a crazy stat — and the third-longest streak of its kind so far this century. Volatility is nowhere to be found. Or, maybe we’re simply not looking in the right places… Markets are funny sometimes. We can examine the major averages and the VIX and assume not much is happening. But there are more than a few stocks out there posting big moves higher and lower. As the Wall Street Journal reported over the weekend, individual stocks are “going haywire” while the averages flatline. In fact, we’ve experienced “far more stocks with 10% swings in a day over the past three months than at almost any other time when the market can barely get above an average move of 0.5%,” the WSJ explains. Simply put, speculators feeling the FOMO are chasing a rotating group of hot stocks while the broad market continues to churn. Can the Historic NVDA Rally Continue? These aren’t the easiest market conditions to navigate. While I still believe there are viable long ideas out there, I’m preparing for some jolts as we get deeper into summer trading. We’re not only dealing with extremely low-volume summer trading this week, we also have to deal with a Fed meeting and another key inflation report (CPI) on Wednesday morning. Plus, investors continue to chase NVDA shares following Monday’s split. I’m on high alert that we’re dealing with a potential sell the news event as speculators pile into this stock following a historic run. To be clear: I’m not predicting disaster this week, or even a big move lower. But I am paying close attention because I want to be prepared if stocks start to slip. I know, I know… I’m sick of all the NVDA talk, too. But it’s the main driver of this year’s market gains — and it’s managed to fuel the averages with a virtually parabolic rally that refuses to die. As we’ve discussed during NVDA’s rise, I don’t believe “calling tops” is a repeatable edge we can exploit in the markets. These major market rallies can last a lot longer than we think, even turning bearish moves into buying opportunities (Remember the dreaded reversal day posted in early March? NVDA has now rallied as much as 40% following a choppy consolidation.) As always, I don’t think it’s wise to attempt to quick-call a major crash in NVDA shares (or any other semiconductor stock, for that matter). Stay on the lookout for downside action — but don’t load up on the short side without confirmation that a move lower has started. Keep Your Head on Straight! It’s almost impossible to tune out the irrational decisions of others — especially when everyone only pays attention to the reckless speculators who are winning big in this market. You can do everything by the book: develop a trading system, hone it for years, and adhere to top-notch risk management practices. You insist on obeying your stop losses. You don’t chase rumors or speculate on low-quality stocks. Meanwhile, an anonymous speculator on a message board posts a screenshot of a massively profitable YOLO trade that netted a 10,000% return. The next day, you tune in to a livestream hosted by a celebrity trader decked out in bandages, sunglasses, and a headband to discuss the development of his GameStop trade that has the potential to net hundreds of millions of dollarsin the coming weeks. He already got rich pulling this same stunt a few years ago. Now, he’s back at it as he attempts to stick it to the man yet again… Of course, these are insane people doing insane things. Don’t get me wrong — Roaring Kitty is no dummy. But it would be completely naive to assume that everyone who follows in his footsteps will find a pot of gold at the end of the GameStop rainbow. Just remember: for every Roaring Kitty, there are thousands of broke traders who bet it all… and lost! You can’t allow these lotto ticket plays to affect your better judgment. I like to say the best thing about trading is the market will always provide another opportunity. The bell will ring tomorrow, next week, and next year. There will be big winners — and big losers. It’s all out there for the taking if you put in the time and effort. You can sit around wishing you put 100% of your trading capital in NVDA on Jan. 1. Or, you can focus on doing the work and following your trading process to help find the consistent winners that will lead to long-term trading success. The choice is yours… Best, [Greg Guenthner] Greg Guenthner Contributing Editor, Morning Reckoning feedback@dailyreckoning.com Thank you for reading The Morning Reckoning! We greatly value your questions and comments. Please send all feedback to [feedback@dailyreckoning.com.](mailto:dr@dailyreckoning.com) [Sean Ring] [Sean Ring, CAIA, FRM and CMT]( is a former banker and financial educator and is the editor of the Rude Awakening. Sean has trained interns and graduates from Goldman Sachs, Morgan Stanley, Citi, Bank of America, Standard Chartered Bank, DBS (Singapore), the Abu Dhabi Investment Authority (ADIA), Bank Indonesia (the central bank), HSBC, Barclays, RBS, and BlackRock. He knows the global economy is being corrupted by forces that most people can't understand and has used his unique and worldly experiences to help people navigate the markets. [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2024 Paradigm Press, LLC. 1001 Cathedral Street, Baltimore, MD 21201. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your The Daily Reckoning e-mail subscription and associated external offers sent from The Daily Reckoning, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@dailyreckoning.com. 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