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Posted: 1/27/2021 9:03:24 PM EDT
[#1]
Wallstreetbets is back up (open)
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Posted: 1/27/2021 9:07:55 PM EDT
[#2]
Quote HistoryQuoted: Oh great, instead of a summery we have a 14 page thread to read. Thank you. Quote HistoryQuoted: Quoted: There’s a Oh great, instead of a summery we have a 14 page thread to read. Thank you. Or, you could watch a 5 minute video (there’s a few posted in that lengthy 14 page thread) if you’re too lazy to skip to page 14 for an update and explanation. |
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Posted: 1/27/2021 9:10:39 PM EDT
[#3]
Quote HistoryQuoted: Gamestop (GME) was heavily shorted by hedge funds. Basically, they were betting on the stock to drop. A bunch of people via internet chats started buying the stock driving the demand and price up. As the price ran up the funds had to start covering their short positions. This drove the stock even higher and created a tremendous short squeeze. The group of people who initially pushed the stock higher then sold at the hugely inflated price and some presumably made a killing at the expense of the wall street hustlers. Quote HistoryQuoted: Quoted: Quoted: There’s a Oh great, instead of a summery we have a 14 page thread to read. Thank you. Gamestop (GME) was heavily shorted by hedge funds. Basically, they were betting on the stock to drop. A bunch of people via internet chats started buying the stock driving the demand and price up. As the price ran up the funds had to start covering their short positions. This drove the stock even higher and created a tremendous short squeeze. The group of people who initially pushed the stock higher then sold at the hugely inflated price and some presumably made a killing at the expense of the wall street hustlers. Bets on the SEC and FBI coming down on everybody like a ton of bricks? I have been following this since the inception of the idea. Really thought about participating... On one hand I should have, on the other, I love my dog. |
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Posted: 1/27/2021 9:16:19 PM EDT
[#4]
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Posted: 1/27/2021 9:19:53 PM EDT
[#5]
Quote HistoryQuoted: This. Where is my protection when prices tank? There is none. Protecting the hedge funds should be criminal. Quote HistoryQuoted: Quoted: Quoted: A get rich quick scheme that actually worked? More like a hedge fund's get rich quick scheme that backfired epicly, so now the system's going to step in and crush the little guy rather than let the hedge fund fail over the profoundly stupid decisions they made. This. Where is my protection when prices tank? There is none. Protecting the hedge funds should be criminal. The "invisible hand" of economics is passe. Special interests - this includes govt - maneuver to protect them & theirs, using other people's money at their convenience. GTFO little guys! |
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Posted: 1/27/2021 9:24:43 PM EDT
[#6]
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Posted: 1/27/2021 9:33:01 PM EDT
[#7]
The entire country is devolving into the plebs v. elites, and the elites control the media.
You could see this coming a mile away. What's interesting is it could be a wake up call for a few on the left on reddit that bought the lie Biden was on their side. |
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Posted: 1/27/2021 9:39:56 PM EDT
[#8]
Quote HistoryQuoted: What's interesting is it could be a wake up call for a few on the left on reddit that bought the lie Biden was on their side. 
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Posted: 1/27/2021 9:43:55 PM EDT
[#9]
Quote HistoryQuoted: A get rich quick scheme that actually worked? We used to call them Round Robins in TX, when they did this with real estate. circle of friends would pass a piece of real estate among them until they had an outside buyer and then they would bail. Same basic concept going on with gamestop, just dont be the last smuck holding the ticket when the money guys bail. |
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Posted: 1/27/2021 9:45:07 PM EDT
[#10]
Quote HistoryQuoted: crony captialism is what turns many people into communists When capitalism isn't regulated, it's worse in many regards to communism. Quote HistoryQuoted: Quoted: well she's a commie. say what you will about commies (its all true and worse) but at least they don't support a cronycapitalist system of big-money backed politicians colluding with investment bankers to systematically rig the system against the individual investor  crony captialism is what turns many people into communists When capitalism isn't regulated, it's worse in many regards to communism. Capitalism is leveraging a position to gain an advantage. That's all it is. Communism is a government-less society devoid of a "ruling class". So sayeth Marx. All these "communist" personalities are really just crony capitalists by another name. Does the leadership in CCCP/USSR & the CCP live like everyone else? How could they not engage in capitalistic behavior & get what they have & where they are, distinct from the rest? Communism is a control scheme reserved purely for the masses of outsiders. |
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Posted: 1/27/2021 9:50:12 PM EDT
[#11]
Quote HistoryQuoted: Wallstreetbets has been set to private. Reddit gonna ban the sub. back to public now... |
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Posted: 1/27/2021 9:55:35 PM EDT
[#12]
Quote HistoryQuoted: We used to call them Round Robins in TX, when they did this with real estate. circle of friends would pass a piece of real estate among them until they had an outside buyer and then they would bail. Same basic concept going on with gamestop, just dont be the last smuck holding the ticket when the money guys bail. Quote HistoryQuoted: Quoted: A get rich quick scheme that actually worked? We used to call them Round Robins in TX, when they did this with real estate. circle of friends would pass a piece of real estate among them until they had an outside buyer and then they would bail. Same basic concept going on with gamestop, just dont be the last smuck holding the ticket when the money guys bail. This is what caused the S&L crisis back in the 80s. Difference between then and 2008 crisis was back then, over 1000 assholes went to jail for fraud. How many in 2008? None. |
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Posted: 1/27/2021 10:02:07 PM EDT
[#13]
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Posted: 1/27/2021 10:31:26 PM EDT
[#14]
Quote HistoryQuoted: She hasn't been offered a seat at the table yet, her tune will change when she stands to get rich. |
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Posted: 1/27/2021 10:32:52 PM EDT
[#15]
Quote HistoryQuoted: I'd be pretty happy with a $200,000 annual salary with those congressional perks. Quote HistoryQuoted: Quoted: She hasn't been offered a seat at the table yet, her tune will change when she stands to get rich. Too much drugs is never enough drugs. |
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Posted: 1/27/2021 10:37:45 PM EDT
[#16]
Quote HistoryQuoted: crony captialism is what turns many people into communists When capitalism isn't regulated, it's worse in many regards to communism. Except 99% of the time crony capitalism specifically arises due to regulations. |
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Posted: 1/27/2021 10:37:46 PM EDT
[#17]
Quote HistoryQuoted: Too much drugs is never enough drugs. |
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Posted: 1/27/2021 10:47:34 PM EDT
[#18]
A broken clock...
 
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Posted: 1/27/2021 10:52:27 PM EDT
[#19]
Quote HistoryQuoted: crony captialism is what turns many people into communists When capitalism isn't regulated, it's worse in many regards to communism. Quote HistoryQuoted: Quoted: well she's a commie. say what you will about commies (its all true and worse) but at least they don't support a cronycapitalist system of big-money backed politicians colluding with investment bankers to systematically rig the system against the individual investor crony captialism is what turns many people into communists When capitalism isn't regulated, it's worse in many regards to communism. Crony capitalism is a term used mostly by communists to describe cronyism. |
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Posted: 1/27/2021 11:39:15 PM EDT
[#20]
Quote HistoryQuoted: Gamestop (GME) was heavily shorted by hedge funds. Basically, they were betting on the stock to drop. A bunch of people via internet chats started buying the stock driving the demand and price up. As the price ran up the funds had to start covering their short positions. This drove the stock even higher and created a tremendous short squeeze. The group of people who initially pushed the stock higher then sold at the hugely inflated price and some presumably made a killing at the expense of the wall street hustlers. Gamestop was not just heavily shorted. The hedge funds shorted something like 140% of all available shares in an attempt to crash GME. Autists bought realizing that hedge funds had to eventually buy to cover, driving the price up further, and the hedge funds doubled down and shorted more. Eventually, billion dollar hedge funds needed a bailout from other hedge funds. Big investors got involved, drove more attention, etc. Essentially, hedge funds made a bet that they could short enough to create a selling frenzy and sink GME. That bet would have paid off if autists hadn't noticed that they had shorted all available shares and naked shorted another 40 available shares and gotten organized. IMO nothing illegal or unethical by the autists. They saw an opportunity and took advantage of it. Good summary here: https://imgur.com/gallery/DCCpuZA?fbclid=IwAR01i6bbNU2wfud8Uj3gKApaOPmtRMb71B8awBFt7aFQRWsnJnWeoHfu0Mk |
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Posted: 1/27/2021 11:45:27 PM EDT
[#21]
Quote HistoryQuoted: Crony capitalism is a term used mostly by communists to describe cronyism. Quote HistoryQuoted: Quoted: Quoted: well she's a commie. say what you will about commies (its all true and worse) but at least they don't support a cronycapitalist system of big-money backed politicians colluding with investment bankers to systematically rig the system against the individual investor crony captialism is what turns many people into communists When capitalism isn't regulated, it's worse in many regards to communism. Crony capitalism is a term used mostly by communists to describe cronyism. No, crony capitalism is when large companies with big lobbying budgets (ie bribe accounts) get preferential treatment in tax and other laws. Crony capitalism is when large mega banks can commit fraud on a massive scale, get convicted of it multiple times, and yet they are still allowed to continue to do business instead of being shut down as criminal enterprises and their principals jailed. Crony capitalism is when TBTF is used as an excuse to pour huge mountains of money down a rat hole instead of forcing institutions that made bad bets to eat the losses. I'm a capitalist. I despise crony capitalism which is where we find ourselves today. Crony capitalism is a term used mostly by people who understand how capitalism is supposed to work and are intelligent enough to recognize when it isn't working that way. |
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Posted: 1/27/2021 11:49:31 PM EDT
[#22]
Quote HistoryQuoted: Add NPR to the list. Must be deplorables cashing in. Quote HistoryQuoted: Quoted: Pure propaganda lol Wapo, La Times, Bloomberg, etc. all with negative stories out at the same time. Are they all robots? Add NPR to the list. Must be deplorables cashing in. And PBS, their News Hour tonight had an "expert" interviewed who made sure to point out that these poor, innocent hedge funds' losses mean that people's retirement accounts and pensions are going Down The Drain!!11!one |
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Posted: 1/28/2021 12:09:16 AM EDT
[#23]
Quote HistoryQuoted: Except 99% of the time crony capitalism specifically arises due to regulations. Quote HistoryQuoted: Quoted: crony captialism is what turns many people into communists When capitalism isn't regulated, it's worse in many regards to communism. Except 99% of the time crony capitalism specifically arises due to regulations. It buys, sells, and produces those regulations - market makers for governance. "It's not true capitalism" is no more true than "it's not true communism." Power can be concentrated, and from there, it will be diversified. |
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Posted: 1/28/2021 12:16:59 AM EDT
[#24]
top kek
burn it all and make a few bucks in the process Dems aren’t the only ones who get the finger |
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Posted: 1/28/2021 12:31:29 AM EDT
[#25]
Who do you think owns the media?
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