Thanks!
This is the #1 piece of FUD I’ve seen for the last 12 months and it’s just been blown to bits. I’ve been all-in on GME since Jan 20, 2021 and every week I see a post or comment either begging for or asking why not has a long whale just come in and blown up the hedgies positions (implying that because it hasn’t happened, the squeeze isn’t real).
It’s because they’re not allowed to do so by the SEC due to mArKeT mAniPuLaTioN.
Charles Gradante in his awesome tirade explains that retail, since we’re all just individual investors, were (and are) able to just keep buying and buying more shares and calls, which Melvin and other hedgies hedged by buying more shares, hoping the buying would eventually stop, but retail just kept buying more and more as the hedging raised the price more and more, death spiral infinity loop to Oort Cloud.
We were allowed to do it because the SEC can’t act unilaterally on millions of people simply buying a stock and options on that stock, it’s completely legal and normal market activity. So instead, the market makers, Shitadel especially, used their influence and power to get brokers to turn off the buy button.
Then the SEC and Congressional Finance Committee launched BS investigations that completely avoided talking about the real issues and instead talked about RETAIL needing to be regulated, rather than rightly pointing the finger at the market makers who abuse their privileges to swing the market to their whim and advantage.
So, at least from all this, we can finally put to bed the FUD idea that the squeeze isn’t going to happen because otherwise long hedge funds would just have blown up the whole situation by now. We now know they’re not allowed to and we simply have to continue holding, buying, DRSing, and also playing smart options (far-dated near the money or in the money calls) because THAT is the exact recipe that led to last year’s sneeze, and will ultimately lead us to the short squeeze.
This January, the end of this month, we’re heading into the same conditions as last year but with a fraction of the liquidity, which means the price is WAY more volatile on MINISCULE volume. We’re seeing 10% upswings and downswings on less than 5 million volume. Do you not realize how fucking insane this is?
Last year, that 10% price swing would take 50 million volume or more. If you were around last February, you remember that we used to forecast “slow days” by measuring if we got less than a million volume in the FIRST M
... keep reading on reddit ➡I'm not insulting Americans. But you do have the Vietnam War ingrained in your culture (Forrest Gump, Rambo, Full Metal Jacket, Platoon, Apocalypse Now). Why is the Afghanistan war not seen the same way?
A year ago today retail was trading GME on the 100% correct thesis* that it was shorted more than 100% of the float and THIS IS WHAT PEOPLE WERE TRADING ON --- THE CONTINUED BUY PRESSURE of a 100% shorted stock and potential squeeze (an actual squeeze, not the BS that's been mentioned with every MSM article mentioning a new ticker squeeze candidate ever since).
Well instead of letting the "free market" play out, the monopoly game was flipped upside down because they didn't like how the game was playing out…i.e., the buy button was simply turned off for multiple securities.
If you have not seen Interactive Brokers Founder and Chariman Thomas Pettery's interview February 2021 before the gamestop hearings, this is the most important concise background info as to what was actually going on behind the scenes 1/28/21 and it MUST BE WATCHED here: https://www.youtube.com/watch?v=_TPYuIRVfew&t=41s
In it, Thomas Peterffy confirms that continued GME buy pressure would have gone exponential "into the thousands" and that it would have caused a cascading effect across the market collapsing the financial system. *Peterffy also states GME short interest was way WAY over the float with options (70 million + 150 million calls short interest vs 50 million shares outstanding). You know…confirming the thesis that many were trading on in January 2021 was 100% correct.
This is full admission that the price would have gone into the thousands, so brokers purposely shut off the buy pressure 1/28/21 to keep GME from going exponential to save their own skin…OR it's a lot like rewriting the rules of the game and breaking the opponents legs at the same time in the 4th quarter.
In turning off just the buy pressure (and not the sell pressure) they straight up robbed retail in broad daylight with the police watching and the world recording it on their phones and these people running the shit show are still out there as if NO WRONG has occurred. Shutting off just the buy pressure instead of halting trading overall artificially affected the supply and demand for the securities they did this to. THIS IS STRAIGHT THE FUCK UP MARKET MANIPULATION as defined by the SEC and cost retail share holders and long option holders BILLIONS of dollars. ONE YEAR LATER after this exposure and almost NOTHING of consequence has been done. It's really all as simple to understand as this and these mother fuckers need to be placed in prison.
... keep reading on reddit ➡
I need to pay $3 a day for my meds to a multi-billion dollar company. The Walgreens I pick them up from is ALWAYS understaffed, because they famously pay their employees like shit and treat them like dogs.
I just called to refill a prescription, they said “ok, it’ll be ready for you, btw we close at six” which was great. The past few times I’ve called, I’ve been put on hold for three hours (literally), so it was nice to only be put on hold for thirty minutes this time. They didn’t even hang up on me while I was on hold like they usually do.
It recently snowed, so I prepared for a walk through the elements, pulled all my old snow clothes out of the closet, got plastic fucking bags on my feet, walk through freezing weather to get my life saving medication. I get there at 4 and it’s just as they’re shuttering up the pharmacy! Apparently not enough people came in, and apparently the pharmacist who said they close at six meant “actually I’m the only one here and I’m leaving the second this phone call ends.”
I know that snow fucks everything up, but it wouldn’t be as much of a problem if they actually staffed the fucking place! I’m in a huge city. Just pay an extra $5 an hour and you’ll have pharmacists applying like crazy!
Or here’s an even better idea, give us universal healthcare already, and we won’t need to rely on abusive billion dollar companies that fuck up our life saving medication! Holy shit everything is so broken in this country, I hate it so much. Instead I’m paying the government to spend trillions murdering poor people on the other side of the earth who get better healthcare than I do.
What are the Pandora Papers ?
"The Pandora Papers is a leak of almost 12 million documents that reveals hidden wealth, tax avoidance and, in some cases, money laundering by some of the world's rich and powerful.
More than 600 journalists in 117 countries have been trawling through the files from 14 sources for months, finding stories that are being published this week.
The data was obtained by the International Consortium of Investigative Journalists (ICIJ) in Washington DC, which has been working with more than 140 media organisations on its biggest ever global investigation.
What has been uncovered?
The Pandora Papers leak includes 6.4 million documents, almost three million images, more than a million emails and almost half-a-million spreadsheets.
Stories revealed so far include:
- the owners of more than 1,500 UK properties bought using offshore firms, including individuals accused of corruption
- the Qatari ruling family who avoided £18.5m tax on a London super-mansion
- Sir Philip and Lady Green went on a property spree after off-loading the BHS retail chain which went on to collapse
- the prominent Tory donor who was involved in one of Europe's biggest corruption scandals
- the King of Jordan's £70m spending spree on properties in the UK and US through secretly-owned companies
- Azerbaijan's leading family's hidden involvement in property deals in the UK worth more than £400m
- the Czech prime minister's failure to declare an offshore investment company used to purchase two French villas for £12m
- how the family of Kenyan president Uhuru Kenyatta's secretly owned a network of offshore companies for decades
The files expose how some of the most powerful people in the world - including more than 330 politicians from 90 countries - use secret offshore companies to hide their wealth."
(Source: https://www.bbc.com/news/world-58780561)
"The leak shows that former British Prime Minister Tony Blair, singer Shakira and many other familiar faces engaged in, at best, aggressive tax avoidance that was accomplished by hiding assets in extremely complex corporate legal entities. Though in some cases hidden funds seem linked to outright corruption, much of this activity is nominally legal – but the very existence of such structures almost guarantees they’re being used for deeply harmful ends well beyond dodging taxes.
For those in the crypto world, it is tem
... keep reading on reddit ➡
Why should I stop using my car and pay multiple times more to use exorbitant trains?
Why should I stop eating meat while people like Jeff Bezos are blasting off into space?
Why should I stop flying when cruise ships are out and about pumping more CO2 into the atmosphere than thousands of cars combined?
I'm not a climate change denier, I care about the climate. But I'm not going to significantly alter my life when these companies get away with what they're doing.
I think the whole backlash against climate change is most often not out of outright denial, but rather working class people are sick of being lectured by champagne socialists to make changes they often can't even afford to, while the people lecturing them wizz around in private jets to attend their next climate conference.
🦍💯
Health care and medications are so expensive these days, and so should the cost of blood. It's really strange that volunteers give blood away for free to the billion dollar for-profit companies.
Do you volunteer to give used shoes back to Nike, or clothes back to True Religion? How is that different than giving blood away?
If these billion dollar companies need blood, they can pay me for it. Otherwise, ain't gonna happen.
EDIT: Yes, I'm American with a for-profit health care system where donated blood is sold to for-profit companies who then charge us back a ridiculous fee per pint of blood of like $250.
