UPDATE 8:30: A few hours after this article was published, the WallStreetBets sub on Reddit mysteriously disappeared and seemed like it was deleted all together. Forty minutes later, the sub reappeared. It would not surprise me if Reddit eventually deletes the sub all together; it’s like the book Animal Farm, pigs who walk in Santoni shoes are more equal than the rest of us. In case the sub is deleted, there is a group on Gab by the same name that will be the rally point for all the rebels who are revolting against Wall Street.
This morning, a merry band of traders at r/wallstreetbets sub beat the crap out of short-traders and exposed the scam that is Wall Street in the process. They did this by working in concert; by submitting stock purchases and call options with enough velocity and within close proximity of each other, they were able to drive up the price of GameStop shares from $39 per share to $347 per share by the time the closing bel rung. Each purchase begetting another purchase, a “vulturous cycle” was created out of thin air as greed and fear intersected to create a perfect storm of volatility that gave rise to a surge in GameStop stock and a swoon for the broader markets. Short-sellers were squeezed by the sudden upswing as stop prices were triggered, which generated more buys which then forced more short-sellers to head for the exit ramp and liquidate their positions.
As I saw what was taking place on CNBC, all I could do was clap and tip my hat to Reddit and the cagey “degenerates” as they fondly call themselves at the WallStreetBets sub. Sure, some of the traders who joined in this morning’s gambit did so motivated by profit, but there were many who did so to stick it to short-sellers and institutional holders who continue to thrive as society crumbles. In the process, WallStreetBets Redditors did us a huge favor; they revealed the racket behind Dow Jones, S&P, NASDAQ and equity markets around the world. What Americans have been conditioned through generations of corporate propaganda, the dolling out of bread crumbs called 401Ks to the working and middle-class while institutional holders hoard the vast majority of shares and the rosy narratives of mainstream media were laid to waste by a contingent of mischiefs who gave scoundrels like Andrew Left bloody noses. More importantly, the lie of this economy is now naked before us.
There was a time where one could kind of make sense of Wall Street and invest accordingly. Companies, for the most part, were rewarded based on fundamentals like P/E ratio, cash flow and return on investment (ROI). Those days came to an end after the First Bank President Obama bailed out the criminals who bled the global economy and fleeced the working and middle-class to the tune of trillions of dollars. As criminal as Obama’s act was when it came to rewarding the Chief Felonious Officers of Wall Street, what truly baked in complete irrationality into the markets was Quantitative Easing that Bernanke, Yellen and the cabal at the Federal Reserve implemented in order to tip the scale to Wall Street by plundering Main Street.
They did this by purchasing long-term securities in order to increase the supply of currency and encourage investments. After decimating the earning power of the bottom 90% by lowering interest rates to effectively zero—which incentivized equities by punishing savings—they doubled up on their mendacity by flooding the markets with cheap money which institutional investors used to lever themselves to the hilt in order to go all in and purchase stocks hand-over-fist knowing that the Fed and Treasury would act as a backstop to prevent their losses. What Obama normalized and Trump enhanced was gambling by the top 1% with no risk and unlimited reward. Forget Lenin, Trotsky and Stalin, the biggest communists in the world are Wall Street executives as they privatize profits and socialize risk and debt to the rest of us.
“Reddit buys stock and it’s manipulation. Government prints $4 trillion for Wall Street and it’s called banking.” @BlaineLourd
— Bridget Phetasy (@BridgetPhetasy) January 27, 2021
There is a reason why the Dow Jones skyrocketed from 7,552 on November 20th, 2008 to over 30,500 at this exact moment. Based on the unabashed greed that was loosened by the two previous Wall Street cronies at the White House, mainstream media went into overdrive to convince us that the economy was healthy. Joseph Mengele Biden promises more of the same as he stocks his Cabinet with corporate shysters and Wall Street thieves. The reality is that America has been turned into Paris right before the French Revolution led to the guillotine treatment for the aristocracy. Democrats and Republicans worked together to crush the poor, working, middle and even upper middle-class while the gentry made off like Bernie Madoff.
The markets sold off yesterday and today for one reason, irrational exuberance gave way to logical realization. Traders on Wall Street are notorious group-thinkers; they move and bleat along to the same tune until the music changes. Today could be potential watershed moment; activist traders with a moral motive know going forward that they can act in unison to pressure stocks up or down as they please with assurance that lemmings will be prodded into action once enough movement is manufactured. It is this paradigm that led to heavy losses on Wall Street today and why trading was halted in order to stem losses. I love the smell of fear in the markets!
REMINDER: Wall Street hedge funds running to the exchanges to halt trading to prevent losses is another example of why the game has always been rigged in favor of the elites.
When you lose it is okay, but when they lose the game is turned off.
— Pomp 🌪 (@APompliano) January 27, 2021
What happened today is a preview of what is to come; we have been shown that a team of traders working collaboratively can drive up the price for one stock while engineering a selloff in the broader markets. We now know that the house of cards is in a precarious position at best. If all it takes is wily investors to create havoc, what happens when a big time investor like Buffett, Gates or Icahn decides to do the same? What will happen when one billionaire starts a whisper campaign instead of using Reddit to coordinate a collective purchasing effort?
Know this, when the markets finally crater and the Great Extortion of 2008 returns with a vengeance, it will not be happenstance, it was all planned and we have Redditor to thank for this upcoming revelation. When that day arrives, the rich better be leery because the proletariat will start speaking French and start gathering baskets. But the plutocrats know this, that is why they are pushing us towards a final solution by way of injections. I hope we rise up before we witness mass-wakes that will make the holocaust seem like a misdemeanor.
This is where I turn to Reddit to ask for your help in order to give workers a fair shake and shellack the hyenas on Wall Street. I’m working with a dozen organizers spread out across America on a campaign called #WildcatStrikeUSA2021. The aim is to build up a critical mass of workers who will participate in a national strike and bring commerce to a screeching halt. We the people don’t have any other recourse; either let our government boil us alive with fiscal and monetary policy while vitiating our rights or we unite beyond our differences and defend our collective interests. Reddit and my fellow Americans, I hope you join #WildcatStrikeUSA2021 and finally give Wall Street and the top 1% their comeuppance. #RedditShreddedWallStreet Click To Tweet