SEC goes after Redditors

This is the GameStop in Ames at the corner of Lincoln Way and Grand. It represents so much more than gaming. Reddit was formed largely from what I can tell by the gamer generation. Its in their blood. A world I don’t understand, but am learning about. Max and Stacy on YouTube at the Keiser Report have a really good understanding of it even though like me they are 30 years beyond it.

The millennial’s don’t care if they bring the system down. I don’t blame them. A large part of them have no use for “boomers”, they feel they bled the system dry. They’re right. A common phrase at Reddit is ‘YOLO’, you only live once. Millennial’s were stuffed in a daycare or sent to the basement with a video game. From SSA to job opportunities to buying a house, they know they’ve been screwed.

The people on Reddit who make up Wall Street Bets took offense at shorters wanting to bring GameStop down and started buying its stock with a vengeance (well, with a vengeance and options). They were killing the main shorter Melvin Capital when Robinhood said, “You need us to stop people from buying? No sweat.” So Robinhood illegally stopped people from buying.

Its a crime wave with these billion dollar companies on Wall Street and who does the SEC announce today they are going after? The $2,500 Redditor investor! You can’t write this stuff any better. Robinhood, stealing from the poor to give to the rich. Its a coin flip whether this or after the 2001-2003 crash when the SEC decided the answer to financial malfeasance was to put Martha Stewart in prison!

As I heard one guy put it, you have an entire generation of fighting age males with nothing to live for. You should be scared.

Shifting sands

Immediately after November 3 the freedom wing of America’s population was pretty down I must say. But now 3 months later I’m seeing a shift. Trump didn’t pull the curtain back on the Deep State, he ripped it off the curtain rod. All the corruption and illegalities committed in the election came gushing out. The Reddit heroes at ‘wallstreetbets’ did the same thing with the financial community. Wall Street has been a farce for a long time if not forever, and that has been made quite clear.

The King is riding down the street naked, and more and more people see it. Nekkid as a jay bird. We’re getting down to fundamentals. Many such as Max Keiser, who was on the ground floor of bitcoin, think we are at a pivotal moment in history. One of the affects of having the curtain pulled back on the Deep State and the dollar, even the normies are seeing it. They could continue the Big Lie as long as all they had to dismiss were a few “conspiracy nuts”, but when the man on the street sees it…

It always comes down to “follow the money”. Another fundamental that recently collapsed was freedom of speech. When former president Trump was kicked off of Facebook, YouTube and Twitter, that opened some eyes. You couple that with every video released on Biden gets way more Thumbs Down then Thumbs Up, you know he didn’t win. Which brings me to the two nuggets below that I found on Gab:

It is disorienting—in a good way—to encounter a social platform that doesn’t hate us, doesn’t hate Christians; beyond that a social platform whose founder is a brother in Christ who seems eager to promote and platform Christian pastors. Thank you for building this space and for fighting hard to keep it. You were in my prayers this morning as I drove to church. May the Lord of Hosts keep you, protect you from those who hate you and would slander you, and may He be your shield and reward.” – Brian Sauvé

As the suffocating blanket of tyranny settles in on us, let us remember the stages that our evangelical leaders have brought us through: 1.) There will not be any need to fight. 2.) There may come a time when it necessary to fight. 3.) It is too early to fight. 4.) It is too late to fight. This is a post-Christian era.” – Douglas Wilson

I’ve been on Gab for nearly 3 years now. Until recently I hadn’t seen the intellectual heft there that I do now. I don’t have that intellectual heft, but I do have good observation skills. There is something afoot. 50 years ago there was a change in America. I’m sensing another one now. The link above for Max Keiser is to a very good video that explains it.

The millennial’s aren’t stupid. They have been the ‘gamer‘ generation. Its not by accident that GameStop was their first target. That’s what they do. As Stacy explains in that video, their world was games. They’ve been figuring out games since they were 5. They know this is all a game and that they have the ability to bring down Goliath. They have the tech savvy, they have the numbers, they have the anger.

A “free market of ideas” (Gab) can be very powerful. AstroTurfed social media like Facebook and Twitter could crumble overnight as they are built on the sands of censorship (apologies).

Replace Congress with mannequins!

My genius knows no bounds! Its incredible! Yesterday trading platform Robinhood and others halted trading for GameStop, AMC and a few others. The hedge funds who were short selling them (making money on self fulfilling price declines because of their leverage), had been getting kicked in the nuts by a trading group on Reddit called wallstreetbets. Wallstreetbets had been buying GME for sometime, taking the price from $4 to $400.

Because various hedge funds had made the leveraged bets that prices would fall, they were losing multiples when the price rose. Great stuff. Love it. Sons a bitches like them were trying to make GameStop go bankrupt by taking their stock price to zero. Instead, a snot-nosed group of 20 somethings with a Robinhood app on their smart phone were kicking Wall Streets ass.

Well hold on, the powers that be weren’t going to let Wall Street lose (“private rewards public risk policy”). So they colluded with Robinhood and others to stop trading yesterday. With the inability to buy, the upward momentum of GME halted. Not only that, but they changed the margin rules midday, then said, “Whoa! You’re not in compliance with cash on hand rules, we’re going to sell your holdings!”

The price of GME yesterday was between $112 and $489. Guess when Robinhood did the forced liquidation of their holdings? Yeah, at $118. Their customers lost a rough $370 a share because of this rule change. When Wall Street can’t compete, they just change the rules (kind of like Democrats at election time).

So the point is nothing is going to happen to these Wall Street mother fuckers. The financial press isn’t going to dig into it. Congress isn’t going to do anything. We the people are on our own. That’s when I realized, we don’t need Congress, we need 535 mannequins!

There is nothing more worthless on God’s green earth than Congress. Okay maybe mosquitoes. Mosquitoes and Congress, God’s 2 biggest mistakes. We should replace Congress with mannequins. Think about it. Wall Street is getting away with murder and Congress is not going to do a damn thing. Mannequins wouldn’t do a damn thing either, but there is so much less cost involved with them.

Mannequins don’t need food, security, housing, medical, flying back and forth to their districts, retirements, elections, never a day off. We could just switch wigs on the mannequins every 2 and 6 years and pretend they were different. When the press had questions for them we could just pull a string on the back and they could regurgitate various cliches. The Republican mannequins could say, “I’m going to bring Iowa values to Washington!” The Democrat ones could say, “We’re going to hold corporations accountable!

There wouldn’t be any sex scandals with mannequins. Mannequins don’t take payoffs from lobbyists. When constituents visited Washington think of the photo ops?! Mannequins never have a bad hair day. They always have a killer smile. They always have a flat stomach. All the girl mannequins could look like Barbie, all the boy ones like Ken! Mannequins don’t need huge staffs, just someone to change their clothes every couple a days. I don’t see a downside.

Very interesting!

I’d kind of heard of GameStop, pretty sure I’ve seen them at the malls. I’d kind of heard of Reddit, no idea what it was. Then this morning I hear that the 3 million or so stock traders in a group on Reddit called ‘wallstreetbets’ had kicked a couple of hedge funds in the nuts and made them lose money short-selling GameStop. I cheered.

For the folks at CNBC and Wall Street establishment types, the way the game is supposed to work is you give them money and they give you nothing in return. You’re not supposed to make money, you’re supposed to get fleeced. I am not shitting you, Bloomberg and Barron’s are demanding the SEC protect the professionals from these big bad retail investors! No shit!

Its ludicrous. A bunch of wiz kids in their twenties have learned to beat Wall Street with the aptly named Robin Hood App and a smartphone, and Wall Street goes crying to mommy!

[Today 1/27/21 they halted trading when Blackberry BB rose 42%, can’t have regular people making money. The other 3 wallstreetbets are playing are GME, AMC and NOK. Anytime Wall Street gets kicked in the nuts, its a good day.]

1/27/21 update at 8:00 pm: Reddit closed down the group at about 5:30 pm central. At about 7:30 pm a “subgroup” of it opened back up. For how long I don’t know. A mirror group was opened up on Gab and at ‘Win’ whatever that is. Its reported hedge funds lost $14 billion dollars today. Which is why they lashed out at the Reddit group. One main thrust is that GameStop (GME) is the main thrust and various members of the group are saying Blackberry (BB) Nokia (NOK) and AMC Entertainment (AMC) are distractions. Who can say for sure? Some have suggested the short positions just aren’t there for the last 3.

Create your website with WordPress.com
Get started