patrick.net

WTF is going on with GME?

How does this help bring down the system?

Patrick says

How does this help bring down the system?

It doesn't. But it taught some short-sellers some very painful lessons.

They are helping to rip the mask off to those too obtuse to notice yet. Watch the media narratives.

Patrick says

WTF is going on with GME?

https://patrick.net/post/1337874/2021-01-26-gamestop-shares-are-jumping-again-but-short-sellers-aren-t-backing-down

Everything is fine. Biden is Watching this.

https://www.businessinsider.com/biden-white-house-monitoring-gamestop-stock-market-2021-1?op=1

Right, I see now.

And I wholeheartedly approve, if it helps to fuck the people who are fucking us.

Thing is, the people that are fucking us (BEZOS BIDEN CHINA) have control over the printing press.

They can print as much as it takes to cover their short position.

Though if they do that, it does make anyone who buys GME very rich in the process.

The buyers are attempting to squeeze out the sellers. When the stock goes up the short calls and short stock positions lose. Since the funds must keep cash positions in an account to cover losses, as their losses eat up their cash positions they are forced to liquidate.

It's called a short squeeze and historically has resulted in huge capitulating moves into already unforeseen bullish events.

The only odd thing here is the bullish event appears to be fabricated BUT the paper losses and resulting short squeeze are just as vicious.

The ringleader could end up in prison for stock manipulation.

Basically, it got to the point where a huge crowd of small investors, many high school kids, piled into a trade and fucked over the rich "sophisticated" hedge funds who were obscenely short a company that was not yet dead. I expect this to become commonplace because a lot of these people that end up in high places in Wall St. aren't high IQ individuals and just get to play with money and take home a big rake if they win and just move on if they lose. Chelsea Clinton's husband was a god awful manager and he still ends up on top. I'd love to take the other side of that morons trades.

I had to explain this to my wife:

If you buy a stock, you pay cash.
If you short a stock, you borrow the stock, sell it, pay interest in the meantime, and eventually have to buy it back to return it.

If you have to buy it back at a higher price, you lose.

If you are approaching the limit of your cash on hand, your brokerage has the right to buy it back with what you have, perhaps totally fucking you.

And that sounds wonderful in this case.

Who here is trading online? Everyone? Which platform do you use and why?

CBOEtrader says

The ringleader could end up in prison for stock manipulation.

The person who cooked up this scheme is probably smart enough to remain anonymous.

GlocknLoad says

Who here is trading online? Everyone? Which platform do you use and why?

I'm happy with Schwab, but also use ETrade sometimes.

This has been fascinating to watch play out on WallStreetBets (Reddit subforum) that has reached nearly 4M users.

GME
NAKD
BB
NKLA

To name a few of the short squeeze candidates. Similar thing happened with TSLA.

BayArea says

GME
NAKD
BB
NKLA

Add AMC to the list...

I want to buy...which of the following is it not too late for / will get the most bump:

GME
NAKD
BB
NKLA

I just heard about this last night, didn’t know this was happening.

GlocknLoad says

Who here is trading online? Everyone? Which platform do you use and why?

Everyone. TD Ameritrade.

TD Ameritrade. Trades are free.

Schwab Trades are free too.

Patrick says

WTF is going on with GME?

How does this help bring down the system?

Patrick says

Thing is, the people that are fucking us (BEZOS BIDEN CHINA) have control over the printing press.

They can print as much as it takes to cover their short position.

Though if they do that, it does make anyone who buys GME very rich in the process.

So many of us know stocks, and by extension, the financial system as a whole is rigged. Gamestop just announced going-out-of-business sales this week, at least in San Diego. So the stock gains are obviously in no way tied to actual value, making even more people see the system is rigged. A confidence based system only works as long as there's confidence in the ability to transact with the worthless paper, the dollar in our case. Blowing up hedge funds and causing ridiculous stock gains isn't a confidence booster, as seen by yesterdays closes.

What happens when you blow a big enough bubble Patrick, you already know the answer. But this time what if we're blowing the bubble, on purpose. Not stopping, applying pressure till it bursts? If you read Rothbard's theory, under central banking manipulation, there will be a series of booms and busts, each more severe than the last until you have total system collapse.

November '19 take a look at what happened in the repo markets overnight. Covid was a cover for impending collapse, and while it made things worse, it kind of made people believe there was a reason for the economy being bad that could be fixed. So the inflation balloon was hidden. But the economy is still sick as fuck, and now they've strapped it with covid financial losses, and now we're hitting back and pilling up Wall Street losses.

They've blocked buying GME. But this has already gone global. They'll have to stop the market again, maybe for AMC, maybe Nokia. Then we jack up another worthless stock, and another, and another. Market is now in complete chaos, trading paused daily, stocks being blocked left and right. Confidence shatters, system collapse.

They blocked buying AMC and NOK, as well.

Retail investors are not allowed to make money.

Retail investors went on margin $56 billion in December, after a record increase of $62 billion in November. That is money just being thrown away. If instead, they had spent that much on their credit cards, the government would be freaking out because it would be flowing through the economy. Having people put their hard earned money into the markets and borrowing more on top of it, just keeps people from being productive.

They trying to stop the bleeding by increasing market manipulation. But they can't block every short position in every market. There are only two choices, shut it down, or open it up. Either way they now risk implosion.

NuttBoxer says

They trying to stop the bleeding by increasing market manipulation. But they can't block every short position in every market. There are only two choices, shut it down, or open it up. Either way they now risk implosion.

They can prohibit shorting for some time.

The rant in the OP said to buy. The folks in charge simply didn't allow any more buying. The stock price can simply be manipulated. The people holding this stock should hope that the stock price does not go negative. If it does, the brokerage firm can then force sell the stock to prevent further deterioration.

The mainstream media is lining up hit pieces on GME. Expect massive amounts of bad press,

https://finance.yahoo.com/news/why-game-stop-is-destined-to-become-another-blockbuster-video-221243155.html

Project Veritas is doing the job the old media used to do.


The only thing we can expect from the MSM today is to justify this blatant market rigging.

#fuckRobinHood

"Stop attacking rich people. It's only okay when we combine to sell short more stock than exists, not for you to try to squeeze us, you little shits!"
https://www.youtube.com/watch?v=yVl-zt5KKe0

The Media is already blaming "Extremists on the Internet", probably "Financed by Putin"

Patrick says

Schwab Trades are free too.

E*Trade, Fidelity, ML - everyone has dropped trading fees several years ago.

Anyone denying free market trades should be hung out to dry and quickly sentenced.

In the Stock Market, you can short more stock than exists, but you can't buy any.

Patrick says

How does this help bring down the system?

It's showing how corrupt the system is.

Once enough people realize the system is simply rigged, the system stops existing.

In the olden days, when you deposited gold in a bank, you'd get a certificate for your deposit. The problem is that the banks would use the money and steal it. But you still had your certificate for the gold they stole. This would last decades, even centuries, until enough depositors would demand their gold back, and find out it was stolen, 30 years ago.

The banker left town, or they were hung.

This, is our Federal Reserve. The reason that we had a banking crisis in the late 1920's, is they were doing exactly this.

Right now, hedge funds have shorted more GameStop shares then exist. This is blatantly illegal, but notice, no prosecutions and there won't be any prosecutions. What these little "investors" are doing is showing the emperor has no clothes. This isn't just an attack on WallStreet, it's an attack on the judicial system and entire financial system.

I've always thought the Boomers would never be allowed to retire. When the last boomer is 65, the stock market goes to 0 and the dollar becomes worthless.

I am a little unbalanced post “election” but this Gamestop Rebellion has me excited!
I am going to buy a little to support the cause.

Horse Face Kerry said earlier that those who lost their pipeline jobs can get a job making solar panels.

Robert Sproul says

I am going to buy a little to support the cause.

I'm a bit tempted as well, though it's sobering, as the shorts are correct.

Maybe things will get a little better in the morning, maybe things will get a little better.

https://www.youtube.com/watch?v=7MBaGjVdaIk

These White Supremacist Domestic Financial Terrorists In Bed With Putin rigged the market against Patriotic Short Selling Hedge Funds!

Musk is going to get another fine from the SEC before this saga is over....