Gamestop, Hedge funds, and bailouts.

If you check out the interwebs lately, there is a story that sounds like the beginning of a economic collapse comedy/adventure story.

Crazy as it seems, a hedge fund named Melvin Capital (apparently named after the kid everybody gave a swirly to in school), shorted the Gamestop stock in order to make massive profits by destroying the company in the process. Only once social media sites got ahold of the info (which is public), they decided to screw up Melvin's plan by buying and not selling Gamestop stock, thereby raising the value of the stock wayyyy beyond the actual value and keeping it there. Now the hedge fund execs are livid that the plebs are using their tactics and rules to make them (gasp!) lose money in the stock market.

The masters have put out the call to their politicians, media, and corporate shills. They demand a stop to this subterfuge of Wallstreet rules and regulations. They know the law, they wrote it, and according to the rules the unwashed masses lose money, not them. There is already some sites which halted trading Gamestop and AMC stock in an attempt to please their overlords, but it came too late.

I can already see Washington hearings where they trot out retired Boomers who will have lost their vacation home when Melvin won't be sending them a dividend check next year. It will be a larger bailout than GM in 2008. Remember the phrase they trotted out time and time again? TO BIG TO FAIL.

 

14-18 Bill I hear !!
From redit

 

Its been quite entertaining to follow. Twatter is full of advice for suffering Wall Street such as, give up lattes and avocado toast, and learn to code, heh.


I believe the hedge fund guys have lost around 14.5 billion. Wall Street wants to shut down so they can "recalibrate". Because its ok for us to lose money at the market, but not them.

And now India enters the chat

 

"Mr. President, we have an urgent concern"
"Is North Korea preparing a test?"
"No, sir. It's the middle class. They are making money on GameStop."

 

I have no doubt he'll sign off on a bailout for them. He'd sign a roll of toilet paper if they put it in front of him. Dude is so far gone, he probably thinks he's signing autographs after winning a cage match with Corn Pop.

 

Serves them right. Did Melvin Capital ever think of firing those that thought up this plan?

 

Wonder if the SEC can roll back the trades.
Kinda like, We are gonna give ya a mulligan.

 

If only Luxor would do that for me at the casino when I bet on roulette and lose.

 

Walstreet is a form of capitalism is it not,might just be the way for the old shit in the White House to get even with capitalism.

 

If they get bailed out for losing their butts on the game stop short then it isn’t capitalism. Capitalism is the small investors that make up the market handing it to Melvin.

 

My God! The Dukes are going to corner the entire frozen orange juice market!

 

Robinhood Reportedly Selling People’s GME Positions Without Warning, Investors Sue | ZeroHedge

Robinhood Reportedly Selling People’s GME Positions Without Warning, Investors Sue

BY TYLER DURDEN
THURSDAY, JAN 28, 2021 - 14:25


Update 1445 EST: Users are starting to report that Robinhood is selling their GME shares without warning. Screenshots like the one below are starting to make their rounds on social media. Meanwhile, platforms like Webull and Merrill Edge have also joined in the restrictions.

article at link above

 

Yeah and they put BUY restrictions on GME as well

 

I posted about this earlier in the NEWS HEADLINES area
https://www.survivalmonkey.com/thre...h-hedge-funds-by-buying-gamestop-stock.67821/

 

(sigh)

How I long for the simple days -- when a pair of brothers could try and control the silver market./...

 

AG @ 23. usd , 29CDN
Monster boxes
AU is great also
S

 

Playing in the stock market isn't all that much different from playing in the casinos. If you don't know what you are doing, don't. And when the casino managers are waiting at the door to restore your losses, maybe then dot gov will step up and bail the market gamblers out.

 

A long time ago, in a land far far away, one could invest in the stock market and expect a reasonable return in the form of dividends and some stock price appreciation over time. That all went out the window in the late 90's (maybe earlier) when the tech boom hit, and since then, Wall St has been way more of a casino than a place to invest for the long haul. I moved my little pile into silver in the early to mid 2000 time, and both gold and silver since.

Even though both are CLEARLY subject to manipulation, they have been forced by the market and uses of the metals (mostly silver) to allow them to hold, and maybe slightly gain, on money invested in traditional 'safe' investments (govt bond, bank accounts). I continue to put my faith in real money, and avoid scratch off tickets and the big Casino on Wall St.......and sleep quite well at night.

 

Silver (AG) has been running in the 25ish range for weeks now....yesterday and today, it's bumped up a couple bucks to 27ish. I watch it for fun, not considering selling.

My prediction is mid to upper 30 range by end of the year.