I have been following the GameStop/AMC/Nokia trading story for about a week, and I have loved every second of it. For those of you who are out of the loop, here is a quick primer. The credit for this goes to a twitter user Aaron D. (@MrBrownEyes2020) whose twitter thread can be seen here:

https://threadreaderapp.com/thread/1354517067240771584.html

Basically, a bunch of hedge funds were shorting Gamestop stocks and the intuitive individuals on the WallStreetBets subreddit started to pump the price up. As the thread above explains:

So for example:

Tim borrows Bob’s shares in GME, and sell them for $10, he pays Bob $1 to do this, and promises to give all of Bob’s shares back. Then, if the stock goes down to $5, Tim buys the shares back at a cheaper price. So Tim’s profit is $10-$5-$1 = $4 profit.

So that’s where we start. A hedge fund tried to force down the price of Gamestop, and short the stock. It usually works fine. It’s been done thousands of times, with no problems.
So they shorted Gamestop (GME) from $20, to $10, to $4. Their greed kept compounding. They kept doing it again, and again, for months. Making billions of dollars, and almost bankrupting this company. (shares and share price are used as collateral for loans and access to capital).

Enter Wallstreetbets- A trading/investing subreddit. Someone noted that these hedgefunds shorted 140% of all shares available. These hedgefunds were so damn greedy, they borrowed more shares than actually existed. That’s how arrogant and dumb they were. They borrowed 140% of all the available shares. It was literally impossible for them to buy them all back. So someone on Wallstreetbets realized this, and told everyone.

Now, the rule with short selling is that ALL those shares that they borrow, MUST be paid back. And so we reach our main story of how the hedgefund’s greed ruined them. Realizing that these hedgefunds shorted GME by a ridiculous amount, these Redditors (normal people like you and me), bought every share they could get their hands on. Driving the price up like crazy. Why?

Because these hedgefunds eventually (within a few months) HAD to buy all those shares back, at whatever price they could get them. They didnt have a choice. So for example, if they borrow 10 million shares, and sold them for $10. They made $100 million in immediate profit. But eventually, they HAD TO buy those million shares back. They didn’t have a choice. That was the deal they made when they borrowed the shares. So these Redditors bought the shares, driving the price up, forcing these hedgefunds to buy back at crazy prices.

Yeah, the hedgefund sold and made $100 million, but now they had to spend $1.4798 BILLION getting those same shares back. A HUGE FUCKING LOSS of $1.3798 BILLION.

The fallout from this has been, up to this morning, akin to B52 carpet bombing in the market. Wall Street has been getting pummeled and Main Street, for once, has been beating them at their own game – so much so that two hedge funds ate huge losses and got out. Publications like the Financial Times tried to link the WSB subreddit to the Alt-Right.

This is where the story takes a turn for the insane and turns from a B52 carpet bomb to an absolute Tsar Bomba.

This morning around 7am, I went on the Robinhood trading app and put a $300 buy order in for Nokia, which is one of the other stocks target by WSB (alongside Bed Bath and Beyond, Blackberry, and AMC Theaters). The purchase went through. When I went back to the app about a half hour later, THE APP HAD REMOVED THE ABILITY TO BUY NEW STOCK IN NOKIA, GAMESTOP, AND THE OTHERS I MENTIONED! Robinhood, who has “democratizing finance for all” in their Twitter profile, has basically committed suicide with consumers.

They were not the only to do so, however – TD Ameritrade also limited some stocks briefly yesterday and appeared to have done it again today. The kicker – Institutions were NOT RESTRICTED, only INDIVIDUAL INVESTORS on two of the most common “Main Street” trading apps out there today. By delisting those stocks, the prices have begun to fall back down. The rallying cry amongst those holding these stocks is to HOLD. By holding, it can resist the downward pressure on prices so that Wallstreet does not win.

The internet has exploded in anger. Investors like Mark Cuban are tweeting about the insanity of it, and the story has blanketed the financial news sector. Barstool Sports CEO and fellow investor Dave Portnoy received this text, which so far has the most valid theory on Robinhood. I definitely see a class action lawsuit coming down the pipes.

The controversy has also created strange bedfellows:

In addition, the movement has gone international, where these restrictions do not exist.

None of this should be surprising, however. We knew that the Suits on Wall Street preferred Joe Biden over Donald Trump by their campaign contributions.

As soon as Biden took office, he nominated Janet Yellen for Treasury Secretary. Everyone here should recognize the name, but if they don’t:

Yellen was a member of the Federal Reserve Board of Governors from 1994 to 1997 and again from 2010 to 2018. She chaired the Council of Economic Advisers under President Bill Clinton from 1997 to 1999 and was the president of the Federal Reserve Bank of San Francisco from 2004 to 2010. She served as vice-chair of the Federal Reserve from 2010 to 2014. In 2014, Yellen was nominated by President Barack Obama to succeed Ben Bernanke as chair of the Federal Reserve.[2] She served one term from 2014 to 2018 and was not re-appointed by President Donald Trump.

A look at Janet’s disclosures shows that she has been quite busy with Wall street.

This event has the ability to demonstrate to the masses that the system is absolutely rigged for the wealthy and politically connected, particularly those with crony ties to President Joe Biden. The size of this Red Pill MOAB truly cannot be understated. The Right and Left seem to finally have something they agree on – the system is rigged. This particularly applies to those who are not normally involved in politics. Indeed, the number of conversations I have had with people about this that are not normally paying attention to the system has been staggering. It is a great way to get people to wake up, and once the rest of Biden’s platform is implemented (energy cost increases, potential gas tax, increased entitlement spending for illegals, etc) and the system again shows that the game is rigged for a small circle of people – and you ain’t in it – it will further highlight the decline of the American Empire.

And, if any Wall Street elitists, Hedge Fund crooks, or related defenders are reading this:

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