Posted on 01/29/2021 12:57:13 PM PST by Onthebrink
If you are not a member of the ruling oligarchy, you can buy a stock only when it benefits the ruling oligarchy, but not when the oligarch shorted the stock and will lose money. In that case, you can only sell. They, the esteemed members of the system, on the other hand, can do what they want at any point to win the rigged game.
(Excerpt) Read more at theblaze.com ...
I’ve always said that Wall Street was rigged; now there is finally clear proof.
Beautiful picture! Gives me chills. The rise of the financial populists.
When do the short positions come due?
End of the business day or midnight?
They were supposed to be due today but the fine for breaking the contract is less than the loss.
At closing:
GME as of Jan 29 3:52 PM ET
325.00/share | Up 131.40 pts or 67.87%
Not sure if anyone has watched Mr. Robot, but this whole situation could have been written into a season easily. Very reminiscent of the vibe depicted in the show.
If history is any indication, when that happens it will not be pretty.
I like the quote someone said on War Room: “In 2008, the elites were too big to fail and buying short was prohibited. In 2020, the little guy is too little to succeed and buying long is prohibited.”
Really - so do they ever have to close the position now? How does that work?
I have gone completely to the cynical side. If a normal person did this you would be in serious trouble. I guess there is no controlling legal authority.
23h
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The CEO of Omega Advisors & billionaire investor, Leon Cooper Cooperman crying on CNBC today.
Shanty Shaker: "They were supposed to be due today but the fine for breaking the contract is less than the loss."
Gentlemen, you have been thoroughly scammed.
Short positions do not come due at the end of the month.
There is no fine, and no contracts have been broken.
Short positions can open and close thousands of times every trading day.
And, the fact that 100% of the shares of GameStop have been shorted does not mean that everyone who owned the stock today is going to get paid $325 a share.
GameStop is going right back to $20 on Monday.
Sorry you had to learn the hard way.
Barstool Sports founder and President Dave Portnoy weighs in on the GameStop stock price stock surge and how Robinhood and Wall Street have reacted to the short squeeze.
https://www.youtube.com/watch?v=zWBtQgxSSLs
Dave believes that Robinhood acted criminally when they stopped/restricted GME buying.
The New York Fed, Pumping Out More than $9 Trillion in Bailouts Since September, Gets Market Advice from Giant Hedge Funds
Since the Fed’s inception in 1913, the statutory role of the Federal Reserve has been to serve as lender of last resort to commercial banks – so that those commercial banks could help the overall economy by making sound business and consumer loans. The statutory role of the Fed has never been to be a lender of last resort to the trading houses on Wall Street or hedge funds. But beginning with the 2007 to 2010 financial crisis, the New York Fed has simply arbitrarily decided to provide an unlimited money spigot to Wall Street’s trading houses whenever they are at risk of blowing themselves up as a result of their own hubris.
To say that Congress has been negligent in reining in this abuse barely captures the reckless irresponsibility of what the New York Fed has been allowed to continue to do with barely a whimper from Congress or mainstream media.
I do not daytrade and steer clear of any controversial investments of any type. I understand what you are saying but the ethics of this one are a bit opaque at best.
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