GameStop Rebellion: Retail Traders Take on Wall Street Hedge Funds

[Luis Miguel]

I'd imagine the system and its minions are in freakout mode. I'd wager if they react in the wrong way, which I think they will, such as to protect and bailout the hedge funds and mess and screw over the masses, which they started to do today, then people may be out for the proverbial 'blood' no matter what your political persuasion is. I saw left and right people starting to unite behind the Occupy Wall Street stuff years ago, but it didn't exactly go anywhere or was vectored, and this has a similar feel to that and the potential to unite all to some extent and degree in an even larger fashion, since a large majority hate the banks and Wall Street shenanigans imo. The WallStreet Bets guy mentioned Dogecoin (a crypto) and it went up 700-800% today.

WallStreetBets Fever Hits Dogecoin, Price Soars 142%

A Twitter account not officially affiliated with WallStreetBets prompted DOGE's latest social media-based price boost.

www.coindesk.com

Dogecoin's move may just be a precursor for the move crypto overall is going to make this year or any other thing or alternative people might look to buy as a big middle finger to the system where they know they have no voice and also to exit the rigged system. I can hear it now, "Screw Wall Street, the Fed and the banks, BUY XXX” (crypto, silver, whatever is the weak point of the corrupt system everyone both left and right knows is in control and knows could care less about them). Basically, this picture where the ‘ants’ harness their power of numbers via viral flash mobs of action.

Wouldn’t be surprised if someone recommends this to the flash mob of ‘ants’ – “if you want to really see a rigged system and make it react, how about everyone interested take out $600 cash a day from the ATM, until…”

People continue to buy Dogecoin in mass and the PTB are not happy. The price is rising pretty fast .

Funny that dogecoin started as a joke but in a matter of days became the ninth-largest cryptocurrency... it tells a lot about the current economic system.

https://twitter.com/x/status/1354944625086095367

https://twitter.com/x/status/1355234523928260608

https://twitter.com/x/status/1355241733257375751

- Twitter mentions of the dogecoin cryptocurrency rocketed to record levels after prices hit all-time highs Thursday.
- WallStreetBets craze pushes dogecoin up 5x in 24 hours. The social media mob that pumped up GameStop is now dabbling in cryptocurrency.

This session came to my mind out of all this:

November 25, 1995

Q: (L) Enough. The other day I experienced one of those extended pre-sleep states, and it seemed that I was in a class and there was someone explaining things to me. What they were telling me was that during this Christmas season [the Christmas season of the dream], certain steps would be taken by those controlling the economy, and that after Christmas, in January and February, a whole lot of stuff was going to be put into motion to send the economy into a dive of major proportions. It was not clear that it was THIS year, but that it was right after a Christmas. Can you tell me where this information was coming from, and what was I experiencing?

A: This is a long and complicated subject, but we will do our best to explain it. What you were seeing was one possible future. The economy of our 3rd density world is entirely manufactured. The forces that control it are both 3rd density and 4th density. There are conflicting opinions in the 3rd density sector right now as to when, where, and how to institute an economic depression. This has been "in the works" for quite some "time" as you measure it. So far, the forces arguing against institution of a collapse have prevailed. How long this condition will be maintained is open to many outcomes. Also, please be aware that the state of the economy is entirely an illusion. In other words, the world economy performs solely based upon what the population is told to believe.

 

[bjorb]

People continue to buy Dogecoin in mass and the PTB are not happy. The price is rising pretty fast .

Yeah, I bought some. Not complaining.

 

[Revolucionar]

I don’t know if these hedge funds have stock to buy or sell, but wouldn’t it be cool if people banded together and used their earnings from GME to short sell the hedge funds? Now that would be a move for the ages.

 

[Joan]

This is an interesting discussion posted on the website of Tim pool, it's on the right hand sidebar, episode 213, it's a panel discussion regarding the issues surrounding the Gamestop phenomena, some interesting points are brought up and discussed, I have only watched about 45mins, it's over 2 hours long.

Also the post from a supposed Robinhood insider is declared a fake and gives explanations why,. The fo9rmat is somewhat similar to Steven Crowder's style but without the satire and sponsor plugs, just networking and sharing knowledge. Interesting.

TIMCAST | TIMCAST

Timcast IRL is producing podcasts on cultural and political issues as well as interviews with prominent figures on topical issues.

timcast.com

 

[bjorb]

Gamestop closed at a solid 325.00, 68% higher then yesterday. I've feeling that Monday is going to be interesting.

 

[Deleted member 9511]

Funny that dogecoin started as a joke but in a matter of days became the ninth-largest cryptocurrency... it tells a lot about the current economic system.

I'm beginning to think the cosmos started as a joke...

No, wait. I sure of it.

 

[seek10]

It looks manipulations by limiting how many shares people can buy continues for other shares beyond GME and AMC. They are changing the limits dynamically so that wallstreet can make money on shorting

 

[duyunne]

One thing I find odd about the state of gaming, is the recent release of the Playstation 5. Whenever a new game or console comes out, it is hyped up as people like the latest things.... well, the PS5 was sold out before it even reached the store shelves. And it was mass purchased by groups of people intent on scalping them - at 2-3 times the retail price. Scalping electronics products? Really?
So this was a big thing on youtube for a month or so and it seemed ridiculous. I suspected a shortage because of something going on in China, or trade relations with them, and so this 'scalping' was the excuse that the new consoles never hit the shelves.
So, all the consoles - PS5s and the new Xboxes -aren't available in stores and in the hands of scalpers... who has the money and organization to buy up all that electronics in order to profit 2-3 times the investment?
And how is Gamestop supposed to sell games when there are no new consoles to sell? Who would invest knowing that there are no consoles to buy?

The scalping phenomena doesn't last as their only customers are people who actually buy fast and early to gloat that they have the next big thing first. Most people sensibily wait them out and never purchase from them out of principle. There will be consoles to buy at retail just as there always is because people will still want the PS5 even if they have to wait out scalpers.

 

[Joan]

The thing that makes wonder about this phenomena. Is it orchestrated, to bring down the stock exchange, and bring in, the proposed New Reset. The collapse of all know institutions, be it civic, financial and political.

Can't help thinking, this is such a blaring in your face toward the elites. I find this strange, given all the surveillance on the planet, with all activity, logged and recorded, in real time.

I have this niggling feeling at the back of my mind. And we left wondering, As Carl Rove said many years ago, We are the Reality Creators.

 

[dredger]

The thing that makes wonder about this phenomena. Is it orchestrated, to bring down the stock exchange, and bring in, the proposed New Reset. The collapse of all know institutions, be it civic, financial and political.

I don't think this was "plotted" by the PTB, but who really knows ?
In a way, this was plotted by the universe, that's sure, and then, which side influenced this ? STS or STO ? Is this another STS maneuver from an higher level than the (human) PTB ? I would say that it's ... simply a normal reaction from a population that learnt a lot these last 4y and slowly start to kick back. Like in Rocky, he received a lot in his face at the begining of a combat, then starts to strike back. Same here, people are striking back, and it's time !

On the fun side, laughing time here, posted on GAB, a small clip that should make any

Mark Smith on Gab: ':soy:'

Mark Smith on Gab: ':soy:'

gab.com

 

[taratai]

A thought just occurred to me (predicated on the assumption that GameStop is the consequence of a psyop) - Elon Musk is cheering this whole thing on. What kind of crowd is he associated with? Trans humanists. The same crowd involved with the great reset. Hmmm

Elon Musk is a memelord and a sheetposter among billionaires. He does things for the lulz. He even tanked the stocks of his own company because of an April Fools joke. He's very much like many other people on the internet, making fun of the mainstream media and other rich people, and that's why he's loved so much.

So him cheering as this goes on is not surprising at all. Even among transhumanists there are people that hate the elites, and would gladly watch the world burn. For the memes.

 

[Metrist]

The scalping phenomena doesn't last as their only customers are people who actually buy fast and early to gloat that they have the next big thing first. Most people sensibily wait them out and never purchase from them out of principle. There will be consoles to buy at retail just as there always is because people will still want the PS5 even if they have to wait out scalpers.

When I think of scalping, the first thing I think of is concert tickets, or sports events - things we know that are limited to time or space constraints.
But mass produced factory items? I think this is hype going too far, and it is still hard to believe someone with the money would think it a good investment strategy, or someone would be so desperate to be the first to own one. I guess Christmas might have fed into the exploitation, but there is also just as many reasons to wait.
So, seeing as someone believes that consoles are scarce enough to scalp them, maybe that is more the reason for it - scarcity. Maybe covid, or flooding, trade, ect. is causing the shortage.
And since Gamestop is in the news at a time where game consoles are scarce, it would seem that people wouldn't want to invest in it.

 

[Joan]

The scalping phenomena doesn't last as their only customers are people who actually buy fast and early to gloat that they have the next big thing first. Most people sensibily wait them out and never purchase from them out of principle. There will be consoles to buy at retail just as there always is because people will still want the PS5 even if they have to wait out scalpers.

This in reality does not concern gamers, or those that like to take part in video games in leisure time, it's an information war (I dislike the use of that word war) or to put another way a sociopolitical ideological transgression against the law of humanity. In other words, the choice between freedom of mind and body, or the alternative, perpetual slavery.

 

[Menna]

The % a companies stock is shorted is public information. You can look up the top 10 publicly traded stocks with the highest short interest.

reddit originally was a forum used heavily by gamers. They do not like how the hedge funds are betting on the failure of game stop AND they also don’t like hedge funds apparently because of their manipulation tactics in betting against a stock. Fir example citron is a company that regularly short stocks. They will establish a short position and then go on the news the next day and talk negatively about a stock (this is illegal)

what the WallStreetBets reddit group is doing is not illegal. They are publicly agreeing to buy a stock A they like because of their business and B because they are buying it out of spite. Others wether they like GameStop or not are also buying the stock out of spite and are openly saying they are on a public forum. This is not illegal. People in a investment clubs to group together and invest in a fund or private investment based on an investment objective...Reddit forum is the investment club they just didn’t hire a lawyer to draft up the documents and get the 50,000 members to sign.

The way it works when you short sell a stock is you borrow stock A at the market at $100 you then quickly sell it for $100 the next day but you have to pay the stock A back to the person you borrowed it from at a specific date. You are betting that on that specific date stock A will be less than $100 let’s say it’s $50 on that specific date well you buy Stock A for $50 and give it back to the person you borrowed it from.

Here is the kicker if on that specific date the stock is now $200 you have to buy back the stock which fuels the stock price to go up even more and now you come out of pocket $100 to pay back the person you borrowed from. Hence the judge funds being pissed.

so GameStop goes up when retail investors / reddit users buy and also when the specific date comes that the hedge funds have to buy Stock A to pay back who they borrowed from.

the hedge funds won’t go out of business as they can barrow from other hedge funds/banks to cover their bad investment until their other investments pay out a return on investment. What will happen here is the return to investors and the hedge funds overal performance will suffer.

They will have to find a new way to profit.
It’s been a year of adaption change and finding new ways. They are upset they have to change and adapt not that they will go out of business.

the first time a group of thousands on the internet found a common cause and came together to fuel that cause and that cause is fueled by the ppl that cause is focused on (short sellers having to buy back the stock) its an interesting dynamic a new one...Who knows how it will turn out or how it will be handled there’s longer than three weeks before a decision is made so we can’t even ask the cs

 

[Niall]

This happened quite a while ago when Bank of England stock was doing poorly and George Soros bought massive short positions, almost bankrupting England. He spotted the Bank (and Country) moving into the Exchange Rate Mechanism and placed massive short bets. He made many Billions of dollars off of it, England had to withdraw from the ERM move and the rest is history, made Soros very rich.

On another note, I saw an article yesterday (since taken down) that the Gold/Silver Cartel was very worried that this same thing could happen to them. JP Morgan, Bank of England and a lot of other major banks and brokerage houses are up to their eyeballs in short positions in the Paper Gold/Silver funds. Been doing it for decades and don’t have the Gold/Silver to back it up if they are forced to exit their positions. Would just love to see it happen to them, couldn’t happen to a finer bunch of crooks!

Indeed, the shorting of the BoE is an infamous case. The British govt just wrung its hands and said 'we saw it and tried to stop it but there was nowt we could do'. Well, they did try to counter it in the way the Redditt community day traders are currently doing, but what this goes to show is that centralized efforts are useless; only a decentralized 'swarm effort', a network of many individuals in concert, can make a dent in the concentrated financial firepower of large hedge funds. It's a tactic that centralized govt will now readily side with hedge funds on because it exposes them to be redundant!