**** I AM NOT TELLING YOU HOW TO SPEND YOUR MONEY, I REPRESENT NO ONE BUT MYSELF, THESE ARE MY THOUGHTS AND IN NO WAY SHOULD BE INTERPRETED AS FINANCIAL ADVICE ****
Daily, I am watching the 1% battle each other with money, and the closer it comes to an end, the more I feel that this is somehow connected to everything.
Short story: GME (GameStop stock) has been heavily shorted (bet that the stock price would fall) for a long period of time, to the point that more than 100% of the available shares have been “lent out” and have created counterfeit stock. Normally this is illegal, but if you’re making billions, a $1 million fine is just the cost of doing business. Yadda yadda yadda.
So the 1% have been using this loophole to make billions of untaxable dollars. That’s right, when a business fails, some douche on wall street makes billions. Well they got caught with their hands in the cookie jar, and got a little greedy with all the businesses that failed during the pandemic and saw GameStop as nothing more than another brick and mortar store that would fail.
The problem is that it’s not gonna go bankrupt, and they don’t want you to know the truth.
They went and lied on national television, risking prison time for stopping the rise in January. Billionaires cried on television ? and they want you to believe they covered, but they told Congress that the price didn’t rise because they were covering their shorts.
They spent millions to buy accounts and spread fear, uncertainty, and doubt to every corner of the internet. Telling people to sell their positions now. They paid the media to do the same, preparing articles 12 hours ahead of time for a price drop the next morning.
The biggest thing in my opinion is the 10 minutes edited from the congressional GameStop hearing on CNBC website
https://youtu.be/d2DU6DXfGPM This is the edited version
https://youtu.be/imRzHXRq80I Here is the original
Something big is about to happen and I believe we need eyes on this. It’s a major happening going on coincidentally along side everything else.
There is NOTHING healthy about the market. The fact you can come up with a scenario where shorts helped fix a problem is a perfect example. There is no scenario where betting against a company is healthy. There is no scenario where you should be able to destroy a company if you have sufficient money (which is what the whole concept of shorting allows).
Regardless of the shorts, the entire stock market is a scam. The idea of being able to invest in a company you like is great and straight forward. But having 5000 loop holes and exploits in the system allows for the crap where shorts are a necessary evil. When the Patriots win, shorts need to go, and all the stuff that goes along with it. We should have a market where we can invest in companies we like. Nothing else is necessary or desirable.