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Stock Market Insanity! — The Grow Network Community
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Stock Market Insanity!

stephanie447stephanie447 Ayurvedic PractitionerAnnapolis, MDPosts: 313 ✭✭✭
edited January 30 in Other News

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?



  • annbeck62annbeck62 Posts: 414 ✭✭✭

    Yay to the people! Hedge funds have adversely affected so many companies in the past.

  • Annie KateAnnie Kate Eastern Ontario, CanadaPosts: 513 ✭✭✭✭

    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.

  • judsoncarroll4judsoncarroll4 Posts: 3,475 admin

    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!"

  • naomi.kohlmeiernaomi.kohlmeier Posts: 320 ✭✭✭

    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.

  • blevinandwombablevinandwomba Central PaPosts: 744 ✭✭✭✭

    Those hedgehogs, at it again...

  • LaurieLovesLearningLaurieLovesLearning Moderator Manitoba, Canada 🍁 zone 3, PrairiesPosts: 3,865 admin

    😲 @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!

  • CorneliusCornelius Posts: 328 ✭✭✭

    I wish I wasn't a poor college student right now. I would definitely invest in silver if I could @Marjory Wildcraft!

  • blevinandwombablevinandwomba Central PaPosts: 744 ✭✭✭✭
    edited February 3

    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.

  • ThomasThomas Posts: 81 ✭✭✭

    I find what is going on very amusing also. More power too them.

  • Suburban PioneerSuburban Pioneer Posts: 230 ✭✭✭

    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!

  • RustBeltCowgirlRustBeltCowgirl North Coast OhioPosts: 835 ✭✭✭✭✭

    Well, I can at least say that I have an ounce stashed. Will keep an eye on extra funds to add to that.

  • RustBeltCowgirlRustBeltCowgirl North Coast OhioPosts: 835 ✭✭✭✭✭

    @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.

  • RustBeltCowgirlRustBeltCowgirl North Coast OhioPosts: 835 ✭✭✭✭✭

    And I found this article when I browsing on line magazines. The is from the UK's Money Week magazine.

  • CorneliusCornelius Posts: 328 ✭✭✭

    @Marjory Wildcraft I couldn't agree with you more!

  • Suburban PioneerSuburban Pioneer Posts: 230 ✭✭✭

    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.

  • RustBeltCowgirlRustBeltCowgirl North Coast OhioPosts: 835 ✭✭✭✭✭

    @Suburban Pioneer What are you seeing new? Prices are on the rise.

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