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Title: Revenge: An Internet Mob Is Turning The Stock Market Into “A Video Game”, And The Establishment Is Freaking Out
Source: [None]
URL Source: https://www.newswars.com/revenge-an ... establishment-is-freaking-out/
Published: Jan 28, 2021
Author: Michael Snyder
Post Date: 2021-01-28 08:57:09 by Horse
Keywords: None
Views: 226
Comments: 18

Retail investors have banded together to turn over the tables on Wall Street, and it has created a wild frenzy that is making headlines all over the globe.

Unprecedented short squeezes have pushed the share prices of GameStop, AMC, Macy’s and BlackBerry to insane heights, and prominent voices in the financial world are complaining that trading in those stocks has become completely divorced from the fundamentals.

In fact, these young retail investors are actually being accused of turning the market into “a video game”.

Infamous investor Michael Burry, who made crazy amounts of money betting against the housing market during the last financial crisis, even had the gall to claim that recent trading in GameStop was “unnatural, insane, and dangerous”.

Of course Burry is right, but the truth is that the entire market has been transformed into a giant casino and has been “unnatural, insane, and dangerous” for a very long time.

If the entire market fell 50 percent tomorrow, stock prices would still be overpriced.

So it is more than just a little bit hypocritical for the Wall Street establishment to be complaining about GameStop when they have been gaming the system for years.

Ultimately, GameStop is not a good long-term investment. Most people download video games these days, and so a brick and mortar retail chain that sells physical copies of video games shouldn’t be attractive to anyone.

GameStop lost money last year, and they will lose money again this year.

But a group on Reddit known as “WallStreetBets” noticed that some big hedge funds had taken ridiculously large short positions against GameStop, and they sensed an opportunity. They realized that if they all started to buy GameStop all at once, it would likely create a short squeeze of epic proportions.

And that is precisely what has happened.

A year ago, a single share of GameStop was going for about four dollars.

At the beginning of the month, GameStop was sitting at $17.25.

On Wednesday, it closed at $347.51.

In addition to making huge profits, the investors on “WallStreetBets” also wanted to get revenge on the big hedge funds for all the evil things they have done in the past.

Every great story needs a great enemy, and in this case the great enemy is a hedge fund called Melvin Capital…

Melvin Capital, the $12.5 billion hedge fund founded by Gabriel Plotkin, was one of the main targets of the Reddit campaign, after an SEC filing revealed that the fund had a large short position in GameStop.

‘By the end of the week (Or even the end of the day), Plotkin is going to have less than a college student 50k in debt who works part time at starbucks,’ one Reddit user wrote on Wednesday morning.

Nobody knows for sure how much money Melvin Capital has lost, but it appears to be in the billions…

CNBC could not confirm the amount of losses Melvin Capital took on the short position. Citadel and Point72 have infused close to $3 billion into Gabe Plotkin’s hedge fund to shore up its finances. On Wednesday’s “Squawk Box,” Sorkin said Plotkin told him that speculation about a bankruptcy filing is false.

Melvin Capital has supposedly closed all of their short positions in GameStop now, but not everyone is buying that claim.

In any event, the crowd on WallStreetBets intends to continue to drive up the prices of GameStop, AMC, Macy’s and Blackberry for the foreseeable future.

Eventually, each of those mini-bubbles will collapse, but for now the big short sellers are squealing in pain.

Needless to say, the large hedge funds have been reaching out to their “friends” for help, and the SEC just released a statement which indicated that they are watching developments closely…

We are aware of and actively monitoring the on-going market volatility in the options and equities markets and, consistent with our mission to protect investors and maintain fair, orderly, and efficient markets, we are working with our fellow regulators to assess the situation and review the activities of regulated entities, financial intermediaries, and other market participants.

And White House Press Secretary Jen Psaki told reporters just a few hours ago that the White House is “monitoring” the situation.

But what is there to “monitor”?

All is fair in love and investing, and the retail investors of “WallStreetBets” caught some big hedge funds with their pants down and punished them for it.

After everything that big hedge funds have gotten away with over the years, many would argue that a little bit of revenge was definitely in order.

But Wall Street has never seen anything like this before.

Retail investors are supposed to be small fish that get eaten alive by the bigger fish, but now technology has changed the rules of the game…

The way people trade stocks has been upended by the rise of no-fee apps like Robinhood. That technology has democratized investing, giving armchair investors far removed from traditional banks free access to sophisticated trading instruments, like options.

You could pay an analyst to tell you what stocks to buy, or you could create a Reddit account and follow forums like WallStreetBets. Millions of young people are opting for the latter, which is partly why the sudden surges in GameStop and AMC have caught Wall Street veterans by surprise.

Nobody should shed a tear for the short sellers.

They have made obscene amounts of money over the years by manipulating the markets and by preying on weak companies.

Now an Internet mob is preying on them, and many that are involved believe that revenge is a dish best served cold.

If you can’t handle the pain, don’t play the game.

In the end, this entire farce of a market is going to utterly collapse anyway. So the truth is that very few are going to get out of this thing unscathed.

Since the financial crisis of 2008 and 2009, investors have seen their portfolios increase in value by trillions of dollars, but this bubble only exists because of unprecedented manipulation by the Federal Reserve and others.

Now a relatively small group of retail investors is manipulating stock prices to punish a couple of hedge funds and everyone is in an uproar over it?

What a joke.

Our financial markets are fraudulent, and they have been for many years.

Nobody should be accusing retail investors of turning the stock market into “a video game”, because the Federal Reserve already did that a long time ago.

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#1. To: Horse (#0)

Short sellers are the ass-pirates of the stock market. They take massive short positions in companies, then trash talk the companies, in an attempt to drive them into bankruptcy; riding the melt to make money. They destroy companies for fun and profit. Nobody should be shedding a tear over these guys, and they certainly don’t deserve any kind if bail out or assistance from the government. The pirates are bleeding. Good.

"It does not take a majority to prevail, but rather an irate, tireless minority, keen on setting brush fires of freedom in the minds of men." -- Samuel Adams (1722-1803)‡

"Resistance to tyrants is obedience to God." -- Thomas Jefferson

ghostdogtxn  posted on  2021-01-28   9:16:41 ET  Reply   Trace   Private Reply  


#2. To: ghostdogtxn (#1) (Edited)

massive short positions

JP Morgan was short selling silver to keep the price down. And they just might get caught in a squeeze before much longer, since silver is used and cannot be replaced. Once it is gone, it is gone for good. Those holding physical silver will come out on top. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2021-01-28   12:01:40 ET  Reply   Trace   Private Reply  


#3. To: ghostdogtxn, 4um (#1)

Nobody should be shedding a tear over these guys, and they certainly don’t deserve any kind if bail out or assistance from the government. The pirates are bleeding. Good.

Correct, but start watching for the term "Financial Terrorist". The video gamers gave it to one of the protected class. Now the gamers are holding the bag.

In pre-market trading, GME peaked a little over $500 this morning. It's currently trading at about $250 down 250 -50%.

Yay, we won! W-what? On the bright side, equities can go up infinity percent, but down only 100%.

A no-lose situation, right?

The light that burns twice as bright, burns half as long. - Dr. Eldon Tyrell

Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)

Esso  posted on  2021-01-28   13:08:27 ET  Reply   Trace   Private Reply  


#4. To: BTP Holdings, ghostdogtxn, Lod (#2)

That silver J P Morgan is sitting on actually belongs to China.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2021-01-28   15:04:43 ET  Reply   Trace   Private Reply  


#5. To: All (#3)

ME ME ME! AOC tries to ruin GameStop revolt

LOL.

The light that burns twice as bright, burns half as long. - Dr. Eldon Tyrell

Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)

Esso  posted on  2021-01-28   15:54:54 ET  Reply   Trace   Private Reply  


#6. To: All (#5)

The light that burns twice as bright, burns half as long. - Dr. Eldon Tyrell

Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)

Esso  posted on  2021-01-28   16:46:50 ET  Reply   Trace   Private Reply  


#7. To: Horse (#4) (Edited)

That silver J P Morgan is sitting on actually belongs to China.

It seems strange that China would not take physical delivery of that silver. Having it in JP Morgan's vault is a bit like holding paper silver or gold like an ETF. You really should have it in your hot little hands.

China had been accumulating as much gold as they could in a plan to release a 40% gold backed Yuan. But it seems they have been snookered on that deal since many of those gold bars had Tungsten cores. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2021-01-28   20:32:35 ET  Reply   Trace   Private Reply  


#8. To: Horse, anyone (#0) (Edited)

So if Ag does hit 1k/oz, how/where would a holder of say 100lbs take the stuff to sell it? thanks.

Or will this a short lived stock market play?

“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken

Lod  posted on  2021-01-28   22:56:20 ET  Reply   Trace   Private Reply  


#9. To: Lod (#8)

Dispose of silver and gold and mining shares in small increments. Ten million dollars seems like a lot of money today. It won't in ten years.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2021-01-29   8:33:04 ET  Reply   Trace   Private Reply  


#10. To: Lod, 4um (#8)

So if Ag does hit 1k/oz, how/where would a holder of say 100lbs take the stuff to sell it?

I've always used TexMetals.com.

The light that burns twice as bright, burns half as long. - Dr. Eldon Tyrell

Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner.
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)

Esso  posted on  2021-01-29   8:35:49 ET  Reply   Trace   Private Reply  


#11. To: Pinguinite, BTP Holdings, TommyTheMadArtist, Lod (#7)

The Chinese are using JP Morgan Chase to manipulate the price of gold and silver so they can accumulate more gold and silver at bargain basement prices. Then one day in the future they plan to own the world. Actually, that will not work because they will experience even more crop failures and not be able to feed their people.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2021-01-29   8:41:41 ET  Reply   Trace   Private Reply  


#12. To: Horse (#11)

Actually, that will not work because they will experience even more crop failures and not be able to feed their people.

Right now people are picking thru the many garbage dumps trying to find scraps of food for their pets. You know things are tough when you get to that point. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2021-01-29   8:47:18 ET  Reply   Trace   Private Reply  


#13. To: Lod (#8)

So if Ag does hit 1k/oz, how/where would a holder of say 100lbs take the stuff to sell it? thanks.

Major bullion dealers should be able to take it, if you'd feel safe mailing it to them. Small coin shops might take smaller amounts and at a price significantly lower price than spot as they would want to protect themselves in a volatile market.

Locals in your town might also buy it up in small amounts.

Pinguinite  posted on  2021-01-29   10:20:53 ET  Reply   Trace   Private Reply  


#14. To: Horse (#11)

The Chinese are using JP Morgan Chase to manipulate the price of gold and silver so they can accumulate more gold and silver at bargain basement prices. Then one day in the future they plan to own the world. Actually, that will not work because they will experience even more crop failures and not be able to feed their people.

I thought China was pretty much mining their own gold. Not sure of their mineable silver

Pinguinite  posted on  2021-01-29   10:21:58 ET  Reply   Trace   Private Reply  


#15. To: Pinguinite (#14)

China buys silver and gold. They do mine gold. Silver is the traditional metal of the peasants who buried silver. They need to control both metals to keep the price down while they accumulate. China used to have circulating silver dollars and paper money at the same time. The paper money always went to zero.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2021-01-29   13:05:32 ET  Reply   Trace   Private Reply  


#16. To: Pinguinite, BTP Holdings, TommyTheMadArtist, Lod (#12) (Edited)

Please understand this very well. No Chinese government has ever survived a Grand Solar Minimum like the Maunder Minimum of 1645 to 1715.

During the Maunder Minimum the sun radiated less heat. Wheat prices rose as much as 400% in the UK. In 1709 the price of food in France rose 600%. The ground was frozen solid for a depth of one meter (40 inches.)

But Dr Valentina Zarkhova has noticed that more significant than the slight global cooling is the reduction of the sun's magnetosphere. This allows more cosmic rays (nuclear particles from distant decaying stars) to strike the earth. The New Madrid fault had a major quake on 12-25-1699 during the Maunder Minimum (1645-1715). During the Dalton Minimum (1793-1833), the New Madrid fault had 4 quakes on 3 days in 1811-1812.

Japanese scientists also noted an increase in the number of volcanoes during a Grand Solar Minimum. The likely cause of the increase in both quakes and volcanoes is the increased number of cosmic rays energizing the earth.

The biggest result of a major California earthquake would be the immediate collapse of the freeways, sewer lines, water lines and hospitals. 20 million people would have no roads, no food, no water, no sewers and no hospitals.

A weakened magnetosphere for the earth means that our jet stream is allowed to wander about creating havoc with our weather. Intense droughts in some areas and floods in others. More cosmic rays also means that we have more rain, more snow, more clouds, more cloud cover. Not good for farmers and people who like to eat.

The US economy would collapse. Since we have many times more Unpayable Debts to cancel now than in 1933, the economy will be far worse than then. (Expect Hyperinflation. And we have 202 million more people now than in 1929. Open Borders will not be popular with the survivors.)

Note about Richter scale. An 8.35 quake releases as much energy as two 25 megaton Hydrogen bombs. The scale is logarithmic so a 9.35 would be exponentially stronger than an 8.35)

China lost more than 300 million hogs to the African Swine flu. They have a drought in the north and are plagued by locusts in the northwest. Last summer floods destroyed Chinese agriculture.

The Chinese are buying America's food. No other nation is exporting corn, wheat, soy beans and rice like we are. We will have to stop exporting food. That is when China collapses.

The Truth of 911 Shall Set You Free From The Lie

Horse  posted on  2021-01-29   13:19:19 ET  Reply   Trace   Private Reply  


#17. To: BTP Holdings (#2)

A short squeeze on silver would be fun to watch ( and profitable for me).

"It does not take a majority to prevail, but rather an irate, tireless minority, keen on setting brush fires of freedom in the minds of men." -- Samuel Adams (1722-1803)‡

"Resistance to tyrants is obedience to God." -- Thomas Jefferson

ghostdogtxn  posted on  2021-01-29   13:40:12 ET  Reply   Trace   Private Reply  


#18. To: Horse (#0) (Edited)

Whew i watched this all day yesterday real time. And Thursday afternoon right before all thenapp store suspended trading.

It would of done better friday but moments after opening it quickly shot back into the 400s and BOOM trading suspended followed by amc getting suspended.

The establishment is frightend. Billionares are literally cry on news shows and complainjng about the wealthy being attacked by the poor.

It's delcious

Maybe dont short 147 percent Lol

So , end of friday gme closed above the 320 target.

Amc did good too coulda done better but for market cronies but fuckem.

For many the end goal with gme is to sell at 500 For hard core diamond hands the goal is to sell at 1000

And then you got them that are all about sending the message and dont want to sell helping out everyonr else drive up that price.

Oh its fucking magical. We were told the great reset was upon us and we would have nothjng and love it. UnO REVERSE "no u" hahaha

Amc closed at like 14 or 15. Down from 19 the previous day before the fuckering. BuT people have high hopes for it reaching 20 and rocket to the moon hopes of 50... I dont know if that can be acheived but if gme rockets to 1k anything is possible.

Nok and bb didnt fair as well. Meh, they still doing ok bb better than nok but remember its all about betting against the shorts haha.

And id say something cautionary about the SEC getting off their asses, but not with all the jews taking so many power points in government (middlefinger to yellon), the goy got squeezed out. Time to squish the squeeze and beat em at their own game. The SEC will do little to nothing. Robinhood will pay the price as the fall guy for this paridigm shift and little else. Fuck em.

So, my advice?

Start memeing with wallstreetbets. They gone from edge lord loss bragging to rockstars overnight. And they cant stop , wont stop, gamestop lol

And maybe buy some amc and dodgecoin. Im poor af still. Gonna try to open a coin account and buy some doge myself while i can still get in at this level.

______________________________________

Suspect all media / resist bad propaganda/Learn NLP everyday everyway ;) If you don't control your mind someone else will.

titorite  posted on  2021-01-30   8:51:44 ET  Reply   Trace   Private Reply  


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