The Grow System
Anyone else keeping up with the shenanigans in the stock market, where the hedge funds tried to short some stocks (and kill some companies) and people are revolting by buying up said stocks?
Yay to the people! Hedge funds have adversely affected so many companies in the past.
I love it that here is one case in which ordinary people still seem to have some power to stop the big guys. My son is a small-level investor and we hear day by day updates--it's a bright spot in my days.
I'm sure @Marjory Wildcraft has, and likely has some good insights. To me, selling short is more gambling than investing and betting against the company to alter the odds seems to undermine the entire system and spirit of investment. Granted, regulations generally do more harm than good.... the more laws and regs, the more the more the wealthy and powerful can pay lawyers to game the system against the very people those laws and regs were "intended" to protect. Isn't it odd that the big firms never or rarely get charged under monopoly laws, but always say "we need more laws and regulations to protect us from ourselves!"
We hear hourly reports from our son who is not old enough to have an investment account, but he follows what is going on in some of the big gaming chatroom servers. According to him, it's mostly the gamers who behind it, dumping boatloads of money into certain stocks to prove that there is power in numbers and to give the big investors a taste of their own medicine.
I wouldn't call it insanity - it's a process of the truth being revealed.
This Robinhood group of small traders could very well be the crack that brings down the entire global financial system. Serious.
Yes @naomi.kohlmeier most of the gaming community knows about this. Gosh, we spent a lot of money at Game Stop when my son was a teenager. A lot of gamers are also Robinhood day traders. These kids are smart and they see through all the media BS, and they understand the games of what the hedge funds have been doing for decades (they are gamers after all).
Game Stop - and I just love that means "stop the game" is a dying company as games can be downloaded and physical stores and equipment isn't as big as it used to be. Melvin Capital, the biggest hedge fund on wall street was shorting Game Stop stock and these Robinhood traders are pushing the price of the stock way, way up not necessairily to make money, but to punish the big short sellers. The higher the price of Game Stop goes, the more Melvin Capital will lose. Many of the Robinhood traders expect to lose their money because the underlying company is not sound and they know that, but if they can crush the hedge funds, then its worth it. The higher the price goes the bigger the losses for the hedge funds. There is tremendous pent up anger by everyone at how these big wall street guys get bailed out because they are too big to fail (remember 2008?), yet they rake in tremendous profits using tactics that up until recently, only they could pull off. But the Robinhood / Reddit crowd have banded together and are using those same tactics against the hedge funds. So many people have nothing left to lose anymore - why not blow your last few hundred dollars on a share of Game Stop which is a vote to send the hedge funds to go to hell? I am guessing that the reason there are still so many troops in DC is that if Congress tries to bail out Melvin Capital this time, then there will be real violence and no politician is safe.
Here is a really excellent review of the Reddit / Robinhood / Game Stop story and why it is so important. It also explains shorting in an easy to understand manner.
Glen Greenwald https://www.zerohedge.com/political/watch-glenn-greenwald-opines-reddit-revolution-gamestop-and-melvin-capital
THREE more important things:
People used to laugh at me telling me there is no way that commodity markets or stock markets could be so rigged - and I just shook my head - I know what's true and I knew the day would come when it would be exposed. I am heartened that so many young people can see it and have found a way to take action. I know that this will likely cause a collapse of the entire global financial system. A collapse is in the cards anyway. I'm glad to see it although my heart goes out to the unprepared - it will certainly be painful for a lot of people for a long time. But like all the Robinhood traders I want this thing exposed and an end to the corruption.
Those hedgehogs, at it again...
😲 @blevinandwomba And our hedgehog is still mum on the whole subject. He is acting all innocent, pretending to sleep the day away like he knows nothing...😴
But little do we know what he wants to do at night. You do know that we have him locked up behind bars, so he can't do much and his southern 🦔relatives, well, I'm not sure that they like the cold Canadian winters and the deep snow. Notice their bare feet? They haven't figured out how to make winter boots yet, so prefer the warmer temps. Besides, the 🇨🇦🇺🇲international border is still closed and to visit here would require some expensive extensive quarantine at their expense, and a lot of wasted time in their opinion, when they could be busy otherwise executing their plan.
They haven't been in contact with him lately either as far as I know. I've seen nothing of his computer systems/smartphone lately. But just the same, I think those relatives down south have been way too busy causing all of these shenanigans that you are now seeing.
I guess the secret is out!
I wish I wasn't a poor college student right now. I would definitely invest in silver if I could @Marjory Wildcraft!
@Cornelius invest in yourself, learn to grow food, share it with friends and family and make wonderful memories. That is true wealth.
Well, I dunno @LaurieLovesLearning , some of that hedgehog technology is pretty small. He's probably got some sort of communication device built into his cage. You can be sure he has some sort of smartphone. How else is he keeping track of the stock market? Of course, he waits until night time to engage in these activities.
edit: and by the way, apparently I was on to something with the connection between hedgehogs and roombas. That will be another post, however.
I find what is going on very amusing also. More power too them.
I've been following closely and am not sure what to make of the GameStop play - people's revenge? Or pump and dump? One fact is that Citidel made out on the deal quite handsomely. The whole story is quite confusing and it's going to take time to find out all the facts. The silver squeeze is real, though. Physical silver is the Achilles' Heel of the global financial scam. Draining the silver out of the markets is the one way we can actually affect the system. The rush is on and the establishment's attempts to smash down the spot price is only partially succeeding (they still can't get spot below about $27 for the last three days). The Plunge Protection Team seems to have been throwing God knows how much at the markets, though, to keep them rising and distract investors' attention away from silver. Best guess from my friend at GATA (Gold Anti-Trust Action Committee, GATA.org) is that it's the U.S. Government acting through J.P Morgan who is selling the government's stockpile of physical into the market to depress the prices, while the mainstream financial new does its part to stop the people by reporting that the silver rush is pointless and fading. Actually, it's neither pointless nor fading. Even people who have never bought metals before are sucking silver down like there's no tomorrow, and nobody's selling. Whoever is shorting the market is gambling that weak hands will give out, the price will drop and they'll buy back at lower cost. Might be a bad call, though, as so far, everybody's hanging onto their stash for dear life. My guess is that before Basel III goes into effect on June 25 or 26, there will be such an incredible scramble for silver and gold to cover all the shorts that we're going to be able to put several zeroes behind the spot price for every ounce. I hope I'm right on that! Nobody's talking about it, yet, even though three Swiss banks have started complying early. Please, please, if you can, buy even a few ounces of silver and/or gold to keep the pressure on. Removing all the physical from the market will literally break the back of the markets, expose all the lies, and give everybody a cushion to land on when the trap door opens (which it will do regardless of what happens with GameStop, the broader market or precious metals). It's really our one best chance and is in reach of all, not just the wealthy or people who know how to trade. Silver is the people's money, and now is our opportunity to use it to turn the tables and defend ourselves. Let's take it!
Well, I can at least say that I have an ounce stashed. Will keep an eye on extra funds to add to that.
@Marjory Wildcraft Thank you for posting the link to your previous thread about buying silver. I was going to ask about which coins were best as junk silver. It answered my question. For anyone else, she recommended dimes.
And I found this article when I browsing on line magazines. The is from the UK's Money Week magazine.
@Marjory Wildcraft I couldn't agree with you more!
Silver squeeze is getting tighter. Retail supplies drying up globally, and wholesale (1,000 ounce COMEX "good delivery" bars) now in short supply as well. Two silver ETF's (SLV and Aberdeen) just changed their propectus' to investors, both basically saying that the value of their shares might fluctuate because there's a "temporary" shortage of silver with which to back up their funds. This has NEVER happened before and is NOT good, folks. Stack even an ounce or two if you can. There's no virtue in being left without if thigs implode. Grow food, make medicine and memories - definitely!! - but consider how you're going to pay skyrocketing property taxes? Rent? Repair for your well pump and solar panels? New seeds if you have a crop failure? Vet bills? Etc.? Commodities in general are rising in price - a bad sign - Treasury yields are rising - another bad sign - and real food inflation is about to hit. Heinz and ConAgra just announced that they're going to have to pass on higher food ingredient costs to consumers. Some of us might not buy their brands directly, but they're so involved in practically every aspect of the food chain that unless you're raising ALL of your own food and feed (or getting the balance strictly from a CSA or similar program), you're going to be feeling the pinch. Precious metals are the investment with the greatest upside potential. If silver cracks, it's going to outpace inflation handsomely, and gold will be next. For those who want to keep an eye on the situation, I recommend following Chris Marcus on Arcadia Economics.
@Suburban Pioneer What are you seeing new? Prices are on the rise.