Vigilante Dollars Matter Insurrection: Did Capitalism just suffer Gamestop chest pains?

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The joy that we all feel at watching HedgeFund arseholes getting screwed over in the rigged casino of Wall Street is what we all needed after 2020.

Listening to these corrupt Wall street arseholes scream at the people hurting them is just glorious.

The disruptive energy of retail speculators organising online to trip up the hegemonic greed of the Billionaire elites goes so far beyond the tip of this iceberg you wonder if it’s sudden arrival is the first real test of how strong the current house of cards really is.

Much of Wall St’s speculative masses are built on shorting stock, if a disruptive energy like this Reddit Vigilante Dollars Matter Insurrection can crash and burn Hedgefunds in such a manner, expect a rapid unwinding as everyone playing this game gets the fuck out of their positions.

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The continued shuddering of the Dow Jones, down 600 points today, is a market desperately scrambling to understand the magnitude of the seismic earthquake that just hit them.

This could be all the Black Swans coming home to roost. No one panics in anger and rage quite like rich people about to lose their money.

Shit could hit the fan here.

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13 COMMENTS

  1. The irony of course is I’m 99% sure this will be the work of “Trumpers”. While I commend the actions i’m not sure many here will when they realise the engines behind the action.

    This is the people vs the system. For better or worse Trump was the circuit breaker.

  2. The response from some in the economic community and mass media was incendiary, calling the redditors unsophisticated lane changers, Trumpists and dangerous. Various Wall Street creepers are saying WallSreetbets, retail buyers acting under the law, should be investigated for market manipulation. Wall Street, ffs! And then the trading app Robinhood, acting on behalf of all that is greedy elitism, packed a sad and stopped buying on it’s platform (a communication company also banned the subreddit). If all of this isn’t market manipulation, including the opinions of economic luminaries saying buying shares is ok for me but not for thee, then nothing is. This whole system is rigged and the average citizen means less than nothing to these thieving creeps.

  3. It is clear that the looters-and-polluters-and-exploiters club is going to have to do something drastic to prop up their house-of-cards system.

    Options:

    Martial law.
    Completely close down the markets to outsiders, i.e. only politicians and those they serve allowed to participate.
    Increase censorship of the Internet and blocking of legitimate trades by outsiders.
    Declare war on Russia [for invading Crimea in 1797].

    Obviously lowering interest rates is not an option. Below zero just doesn’t work.
    Falsifying GDP numbers doesn’t work either; they’re already doing that (along with falsifying unemployment numbers).

    As Charles Hugh Smith suggested just a week or so ago, the next bailout for the ‘elites’ (scumbags) could well be $5 trillion or $7 trillion.

    I see there have been riots in Lebanon, Tunisia, India, Holland (and probably dozen of other countries, not reported). Thanks, Aljazeera. The peasants are not happy.

    I’m sure TVNZ will maintain its prime focus on the really important stuff -like Americas Cup and whether the Olympics will go ahead or not, and the next wine and food festival.

  4. No – you’re wrong shit is not going hit the fan for hedge fund billionaires – the majority of retail stock brokers in the US (following the lead of Robinhood) blocked the purchase of shorted stocks causing an immediate decline in value to allow the hedge funds breathing space and room to recover some of their losses. Facebook and other social media platforms stepped in as well by shutting down groups that were advocating the purchase of shorted stock in order to catch out the hedge funds.
    Now some hedge funds are announcing they will not publicize their short positions in the future thus making it impossible for retail investors to identify shorted stock.
    Further there will likely be legislation hastily introduced to protect hedge funds from future attempts by small retail investors to collectively push up stock value when larger, politically connected investors need the stock to fall in value. This is what we call free market capitalisms.

  5. Time to tax greed
    The ultra-rich have done very, very well out of the pandemic. Globally, the wealth of the ten richest people rose by US$540 billion last year, enough money to pay for the pandemic in its entirity. And in New Zealand, local billionaire Graeme Hart saw his wealth increase by almost NZ$3.5 billion. All this while over two million people have died, millions more have been plunged into poverty, and governments are building up enormous debts to keep everything running during a global disaster. In these circumstances, such staggering growth gives a real impression that they are profiting from our misery.

    There is an obvious solution to this massive growth in inequality: tax the rich. But we don’t just need to tax them; we need to tax them into oblivion. As Arwa Mahdawi points out in The Guardian, billionaires shouldn’t exist. They are policy failures. No human being needs that much money, and the power it grants distorts our democracies. Directly taxing wealth over a certain threshold at a rate high enough to erode it seems more than justified.

    http://norightturn.blogspot.com/2021/01/time-to-tax-greed.html

  6. There has always been two distinct species or share market participants, investors and traders. Investors put their money into financially sound companies….commercial property for example. Traders try to guess which way the market is going to go in the short term and don’t care about the fundamentals of the company. Gamestop was underestimated by the hedge funds, they over shorted it and now they’re getting screwed. Sure the bricks and mortar computer game industry is in decline, but they’ve moved into online sales now and are still a viable business. Hard not to feel a certain Schadenfreude watching the hedge funds lose billions.

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