The Flat Earth Society

Other Discussion Boards => Philosophy, Religion & Society => Topic started by: Rama Set on January 27, 2021, 11:03:13 PM

Title: Wall Street v Wall Street Bets
Post by: Rama Set on January 27, 2021, 11:03:13 PM
I fucking love everything that is happening right now with the Game Stop stocks.  I wish I had an investment account so I could get involved in fucking over a hedge fund or two.  It is really sad how the whole affair exposes the one loyalty every American media outlet and politician has: the money.  A bunch of retards on reddit start gaming the system like billionaires do on the daily and you get the head of NASDAQ calling for increased regulation on stonks and CNBC talking about shutting down discussion of stonks on social media groups.  Its hilariously corrupt and backwards.

Anyone got some GME they want to share?
Title: Re: Wall Street v Wall Street Bets
Post by: crutonius on January 28, 2021, 12:47:29 AM
https://www.reddit.com/r/wallstreetbets/

Alas it has been set to private.

Too bad.  I would gladly contribute $200 to annihilate a hedgefund.
Title: Re: Wall Street v Wall Street Bets
Post by: Rama Set on January 28, 2021, 12:54:14 AM
https://www.reddit.com/r/wallstreetbets/

Alas it has been set to private.

Their discord was banned for bad words too.

Quote
Too bad.  I would gladly contribute $200 to annihilate a hedgefund.

You don’t need to go to the subReddit just use your money to buy a fraction of a share.


Title: Re: Wall Street v Wall Street Bets
Post by: honk on January 28, 2021, 01:29:20 AM
Deliberately manipulating the stock market is going to get you negative attention from the media and government, yes. I don't think it's especially relevant that the people doing the manipulating hang out on reddit, insist that they're not very smart, and frequently make jokes and memes. Their dollars are worth as much as anyone else's, and they can invest in the stock market as easily as any businessperson can. The stock market and investing in general have always been highly regulated, and the rules don't go away just because you're a kid talking about "stonks" on reddit.
Title: Re: Wall Street v Wall Street Bets
Post by: Rama Set on January 28, 2021, 01:51:44 AM
The double standard is the issue. The hedge fund that shorted Gamestop was actively trying to bring about GameStop’s bankruptcy for profit. The redditors fucked them over by broadcasting publicly available knowledge. There is a difference between their actions. No one gave a shit about what the hedge fund was up to but the redditors have no gone too far? It’s a laughably thin cover for oligarch’s crying because they got punched in the nose and are mad at the filthy masses.
Title: Re: Wall Street v Wall Street Bets
Post by: crutonius on January 28, 2021, 01:53:38 AM
Pump and dump schemes are illegal.  This isn't that.  This is throwing away $1 to cost a hedgefund $1000.

I don't think that investing for spite is specifically illegal yet.
Title: Re: Wall Street v Wall Street Bets
Post by: Rama Set on January 28, 2021, 01:55:27 AM
Pump and dump schemes are illegal.  This isn't that.  This is throwing away $1 to cost a hedgefund $1000.

I don't think that investing for spite is specifically illegal yet.

There isn’t any evidence of pump and dump from WSB’s. All indications are that they want to keep pushing the price up further. The higher the price the more hilarious it is.
Title: Re: Wall Street v Wall Street Bets
Post by: crutonius on January 28, 2021, 02:02:12 AM
Down 16% in afterhours trading.  This is why the reddit is useful.  I'd like to have a feel for what that hivemind is thinking.

The media's reaction is predictable and disappointing.  They're trying to mischaracterize it.
Title: Re: Wall Street v Wall Street Bets
Post by: Iceman on January 28, 2021, 03:14:44 AM
(https://i.imgur.com/IYHC0WU.jpg)

Who knew billionaires were such a whiny bunch of bitches?
Title: Re: Wall Street v Wall Street Bets
Post by: Rushy on January 28, 2021, 03:30:19 AM
The double standard is the issue. The hedge fund that shorted Gamestop was actively trying to bring about GameStop’s bankruptcy for profit. The redditors fucked them over by broadcasting publicly available knowledge. There is a difference between their actions. No one gave a shit about what the hedge fund was up to but the redditors have no gone too far? It’s a laughably thin cover for oligarch’s crying because they got punched in the nose and are mad at the filthy masses.

Wallstreetbets should play by the same rules: start picking real estate trusts and short them into oblivion. Bankrupt landlords overnight while making money doing it. We'll suddenly see Wall Street's tune change about how great shorting is for the market. This is just another case of "rules for thee not rules for me" where big institutions are crying about getting blasted by what they consider to be the peasantry.
Title: Re: Wall Street v Wall Street Bets
Post by: Fortuna on January 28, 2021, 03:48:44 AM
The most hilarious thing about this is people being surprised at the big money/media corruption. As if they thought their own institutions and markets were pure and always played by the book.
Title: Re: Wall Street v Wall Street Bets
Post by: Rushy on January 28, 2021, 02:12:15 PM
Many users are now reporting that TD Ameritrade and Robinhood are not allowing them to purchase stocks such as BB, GME or AMC. Larger institutions are now showing just how much control they can exert.

(https://i.redd.it/vboawqu6o2e61.jpg)
Title: Re: Wall Street v Wall Street Bets
Post by: Lord Dave on January 28, 2021, 03:01:30 PM
Many users are now reporting that TD Ameritrade and Robinhood are not allowing them to purchase stocks such as BB, GME or AMC. Larger institutions are now showing just how much control they can exert.

(https://i.redd.it/vboawqu6o2e61.jpg)

This is gonna cause all stock trading firms to add a new requirement: minimum $1,000 purchase to trade stocks.
Title: Re: Wall Street v Wall Street Bets
Post by: Pete Svarrior on January 28, 2021, 03:09:27 PM
Deliberately manipulating the stock market is going to get you negative attention from the media and government, yes.
Quelle surprise, Saddam has no idea what he's talking about, but has a strong (wrong) opinion anyway.

Hedge fund investors manipulating the market: I sleep
Private citizens buying retail amounts of stock because they spotted blatant market manipulation: oh no won't somebody please think about the children

Unfortunately, as amazing as this whole situation is, it'll probably result in nothing because, well, people like Saddam exist. The media will pump out their narrative, idiots will eat it up, the market will reset through questionable means, and the poor will continue to get poorer because capitalism good.
Title: Re: Wall Street v Wall Street Bets
Post by: Lord Dave on January 28, 2021, 03:14:19 PM
Deliberately manipulating the stock market is going to get you negative attention from the media and government, yes.
Quelle surprise, Saddam has no idea what he's talking about, but has a strong (wrong) opinion anyway.

Hedge fund investors manipulating the market: I sleep
Private citizens buying retail amounts of stock because they spotted blatant market manipulation: oh no won't somebody please think about the children

Unfortunately, as amazing as this whole situation is, it'll probably result in nothing because, well, people like Saddam exist. The media will pump out their narrative, idiots will eat it up, the market will reset through questionable means, and the poor will continue to get poorer because capitalism good.

They aren't sleeping that well if they're plan to short sell backfired. At best they're having late night meetings demanding someone fix this so it won't happen again.
Title: Re: Wall Street v Wall Street Bets
Post by: Rama Set on January 28, 2021, 03:14:50 PM


Probably. Maybe Melvin dying can be part of the reset and some retail traders will have a solid retirement. I call it a win and progress of a sort.
Title: Re: Wall Street v Wall Street Bets
Post by: Pete Svarrior on January 28, 2021, 03:16:31 PM
Probably. Maybe Melvin dying can be part of the reset and some retail traders will have a solid retirement. I call it a win and progress of a sort.
Best case scenario - one can always hope!
Title: Re: Wall Street v Wall Street Bets
Post by: Rama Set on January 28, 2021, 05:10:27 PM
So now Robin Hood is no longer allowing users to buy GME or AMC. When you follow the money you see that Citadel routes the trade orders for Robin Hood and Citadel also reportedly gave a multi-billion dollar cash infusion to Melvin.

These fuckers need to be taken down.
Title: Re: Wall Street v Wall Street Bets
Post by: Rama Set on January 28, 2021, 08:04:50 PM
e-trade has joined the parade of wall street sycophants.  Ted Cruz and AOC have agreed that this needs to be investigated.  Hopefully some action gets taken.
Title: Re: Wall Street v Wall Street Bets
Post by: honk on January 29, 2021, 07:33:43 PM
I should have done more research before sounding off about this. You guys are right, it's a blatant double standard in favor of "established" wealthy investors. I think I'm just biased against meme communities in general after "ironic" meme culture played a big role in getting Trump elected, but that's no reason not to call out bullshit when we see it. It's nice to see some Democrats and Republicans united in fighting this.
Title: Re: Wall Street v Wall Street Bets
Post by: jack44556677 on January 29, 2021, 07:50:21 PM
I am right there with you fine folks.

Down with the cleptocracy (aka plutocracy, oligarchy, MIC, capitalist "democracy")
Title: Re: Wall Street v Wall Street Bets
Post by: Rushy on January 31, 2021, 01:25:52 PM
I should have done more research before sounding off about this. You guys are right, it's a blatant double standard in favor of "established" wealthy investors. I think I'm just biased against meme communities in general after "ironic" meme culture played a big role in getting Trump elected, but that's no reason not to call out bullshit when we see it. It's nice to see some Democrats and Republicans united in fighting this.

The only thing both parties are united about is making sure this can't happen again: by crushing retail investors with even more regulations. inb4 shares are for accredited investors only, regulated in some act with an ironic name, like Retail Investor Protection Act or Consumer Preservation Act.
Title: Re: Wall Street v Wall Street Bets
Post by: Lord Dave on January 31, 2021, 03:11:30 PM
The REDDIT Act.