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Friday, January 29, 2021

Burning Wall Street

Thanks to the GameStop defense, hedge fund short sellers have lost nearly 27x more in the last month alone than all short sellers combined did in the average month last year.

Wall Street investors are sitting on estimated year-to-date losses of $70.87 billion on their bets against U.S. companies following massive surges in some of the heavily shorted shares, data from analytics firm Ortex showed on Thursday.

Some shares such as in video game retailer GameStop have jumped more than 1,000% in the past week, driven primarily by retail investors trading on online apps and sharing tips on social media messaging boards

Such gains have forced short-sellers to buy back stock to cover potential losses in what is dubbed a short-squeeze. Moves were exacerbated by more retail investors piling into the stock.

Ortex data showed that as of Wednesday, there were loss-making short positions on more than 5,000 U.S. firms.

Shorting GameStop may have cost $1.03 billion year-to-date, Ortex estimates, while those shorting Bed, Bath & Beyond were looking at a $600 million loss.

Its short interest data, sourced from submissions by agent lenders, prime brokers, and broker-dealers, showed that around 62 million GameStop shares with a value of $2.2 billion were out on loan as of Wednesday.

To put this in perspective, the average monthly profit/loss for short sellers in 2020 was $2.7 billion. Now you know why Wall Street is shrieking like little girls for the government to stop the public from being able to do what they do.

One thing is clear from all of this. The America public is not going to support another bank bailout once the next financial crisis begins. They'd rather see Wall Street burn, and rightly so.

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116 Comments:

Blogger Eduardo January 29, 2021 5:49 AM  

We don't need no water...

Blogger Karen took the Kids January 29, 2021 5:50 AM  

I'm uneducated on all this, are regular Americans going to hurt financially in the short term (not including a bank bailout) or is this solely a solid 'fuck you' to these parasites with no downside? Thanks

Blogger God Emperor Memes January 29, 2021 5:57 AM  

Ecclesiastes 1:9

Anonymous Anonymous January 29, 2021 6:11 AM  

It is even funnier that gamers (and a lot of publishers), don't even like GameStop and until this week were welcoming their slow demise. Yet as they go down they will unwillingly do something of great good. It would be just perfect for the history books if shares in GameStop were what stopped the game forever. God has a sense of humour.

Power to the Players, indeed.

Blogger basementhomebrewer January 29, 2021 6:26 AM  

We have finally broken the illusion that wall street = the economy. The pandemic helped with that, along with 40 years of vulture capitalism. This is putting that final nail in the coffin. The story is more often, when wall street is doing well they are draining money from main street.

Blogger T.L. Ciottoli January 29, 2021 6:27 AM  

burn burn burn burn burn burn burn burn

Blogger oldvet1950 January 29, 2021 6:35 AM  

The only problem with your prediction is the gov't will do whatever it wants and the public will shriek like little girls. We have been shown the gov't does not need our support.

Blogger Greg January 29, 2021 6:38 AM  

I'm still waiting to hear about the dog that caught the car, and seemingly unrelated events are putting constraints on the Biden/Harris administration.

I recall something about revolutions being brought about not, as might be intuitive, from people living under tyranny, but rather, being ruled by a slightly lighter hand. What the Biden admin has been doing since the 20th, is nakedly trying to impoverish and humiliate us.
I'm buying stock in popcorn!

Blogger Balazs Varga January 29, 2021 6:40 AM  

These parasitic companies create no value and just manipulate numbers. Nothing of actual use is made by them, they are literally just a monetary illusion that exists to waste electricity and make the rich even richer by underhanded means.

Their loss is Humanity's gain.

Blogger Arthur Isaac January 29, 2021 6:41 AM  

@Karen took,

Quote: "We can remain retarded longer than they can stay solvent".

There is always a downside when the shooting starts. Is a global financial collapse a downside? Depends on how invested you are in the system as it is.

I might give up construction and switch to apple picking. Beats letting (((Gordon Gecko))) continue to live with his boot on my neck.

Blogger Shimshon January 29, 2021 6:44 AM  

GameStop has two new games it's launching:

CrashGo, and its sequel, CrashBurn. Coming soon.

Blogger Mr.MantraMan January 29, 2021 6:44 AM  

The script is throw out a bunch of kayfabe BS bafflegarb then slink off to keep up all the synthetic phony baloney which allows them their skim.

Blogger urthshu January 29, 2021 6:45 AM  

There's this constant refrain that gamestop is some crappy dying company but that's not really true their financials are good from all of their statements. Bigger irony would be if GME was also part of the scam and went under themselves because everything is fake and rigged.

Blogger MagisterGreen January 29, 2021 6:45 AM  

Couldn't have happened to a nicer bunch of ((folks))

Blogger Arthur Isaac January 29, 2021 6:52 AM  

Meanwhile the algos/autists are hunting for stocks that are >100% short sold. It's not safe for the vultures. Where can they get their money in that isn't going to get Hulk Hogan'd? What you gonna do when the retardation runs wild on you?

It's all Monopoly money with Bidet in the WH anyway.

Blogger rognuald January 29, 2021 6:52 AM  

Where GME stock can still be purchased:

https://www.shacknews.com/article/122445/where-to-buy-gamestop-gme-stock-right-now

Blogger Doktor Jeep January 29, 2021 6:58 AM  

And it appears that the White House is doing some collusion as well. RH might have broken the law. There's Election 2020 taste to this.

Blogger Crew January 29, 2021 7:01 AM  

Strangely, Gabbin Nuisance has lost the support of parts of Silicon Valley and one of the central figures in the GameStop saga wants to replace him:

https://www.zerohedge.com/political/silicon-valley-joins-push-recall-newsom-new-candidates-eye-gubernatorial-bids

The big question in my mind is what did Nuisance do to lose that support? Did he fail to suck enough cock? Did he balk at doing the things required of Ticket Takers?

Blogger Doktor Jeep January 29, 2021 7:05 AM  

"I'm uneducated on all this, are regular Americans going to hurt financially in the short term (not including a bank bailout) or is this solely a solid 'fuck you' to these parasites with no downside? Thanks"

What's the perspective of money to those who have none?
What's the value of free speech to those who don't have it?
How important are "reproductive rights" to men who don't have any?
How important are elections when your vote does not count?

Blogger VD January 29, 2021 7:09 AM  

The only problem with your prediction is the gov't will do whatever it wants and the public will shriek like little girls. We have been shown the gov't does not need our support.

Shut up, Boomer. You have it backwards and you always have. Because Boomer.

Blogger VD January 29, 2021 7:09 AM  

What's the perspective of money to those who have none?
What's the value of free speech to those who don't have it?
How important are "reproductive rights" to men who don't have any?
How important are elections when your vote does not count?


(nods)

Blogger FutureDeadWhiteButNotDeadYet Male January 29, 2021 7:09 AM  

@2
There is no context in the fraud factory known as the stock market that regular Americans don't get hurt. At least in this case the career fraudsters can be made to hurt from time to time too. In a very President Daddy style, this stunt by the unwashed retail investors betriggers those who side with hedge funds to the point they take off their "muh free markets" clown masks for a week to...

...(Such shit cannot be made up!)....

... condemn shameful market manipulations.
Oy vey! Honk! Honk!

Blogger Glenn January 29, 2021 7:10 AM  

If I own stock in a company and someone conspires to interfere with my ability to increase or decrease my position as I see fit, tortious interference would be the least of the complaints.

Blogger larry January 29, 2021 7:11 AM  

@ karen

No it is not an unalloyed good. The losses are from pension funds. The big bastards who made the bets *may* get smaller bonuses.

Wall Street firms break one of the biggest rules of good societies: thou shalt have a consonant amount of skin in the game.

Closely related, decisionmakers should be held accountable.

Haven't seen that since 1916 at the Somme. From july to november there were 1,000,000 casualties, but no one was ever held responsible, or even scolded.

From that point, "they" must have realized they could do anything at all and get away with it.

Blogger RedJack January 29, 2021 7:17 AM  

The Austies just learned how to play a new game. The group will shut the door to private stock buying soon enough, but they are starting to realize no one likes them and will cheer as they lose it all.

For the smartest group in the room I bet that is terrifying

Blogger FutureDeadWhiteButNotDeadYet Male January 29, 2021 7:25 AM  

@oldvet1950
The only problem with your prediction is the gov't will do whatever it wants and the public will shriek like little girls. We have been shown the gov't does not need our support.

Umm...I'm surrounded by people who have renewed and heightened fear and anger over the sum of the events of the past year. These people-- including me-- do not express this fear and anger with girlish shrieks. There is a calm resolve forming in people like us--but one that is spiced with a hot anger in our eyes.

Contrast this with the behavior of our betters inside THEIR temple on January 6. I imagine the stench of their cowardice--not to mention that of the poopoo and peepee--will linger in those malevolent spaces for a generation.

In other words, go boomering boomeringly somewhere else, boomer.

Blogger David Stanley January 29, 2021 7:28 AM  

When does the tower diving start?

Blogger Jonathon Davies January 29, 2021 7:32 AM  

All your shares are belong to us.

Blogger Nate January 29, 2021 7:32 AM  

It’s gamergate. Except you can make money. We are only asking for ethics in trading regulation enforcement. Shut up and diamond hands retards.

Blogger Emmett Fitz-Hume January 29, 2021 7:34 AM  

Doktor Jeep wrote:"I'm uneducated on all this, are regular Americans going to hurt financially in the short term (not including a bank bailout) or is this solely a solid 'fuck you' to these parasites with no downside? Thanks"

What's the perspective of money to those who have none?

What's the value of free speech to those who don't have it?

How important are "reproductive rights" to men who don't have any?

How important are elections when your vote does not count?



Well put.

Make them squeal. Make them all squeal.

Blogger Mr.MantraMan January 29, 2021 7:38 AM  

Denninger has a good explanation for those still in the dark about the machinations of these crims. Karl also uses National Review as an example of the need to burn conservatism to the ground, then salt that ground while sticking a few skulls on posts around that ground.

Blogger T.L. Ciottoli January 29, 2021 7:43 AM  

Ethics in trading regulation enforcement? ha!

The entire thing needs to come down. And not built back up again, ever.

Blogger Harambe January 29, 2021 7:43 AM  

Karen took the Kids wrote:I'm uneducated on all this, are regular Americans going to hurt financially in the short term (not including a bank bailout) or is this solely a solid 'fuck you' to these parasites with no downside? Thanks

Yes, there will be fallout in the short term. If you invested with a broker who is now insolvent, you're not getting your money back. If you're lucky, you'll get say 10% of it back, but yeah you're going to hurt if you invested with them. There will also be a knock-on effect to everyone you would have spent your profits at. And companies whose stocks were traded in this fashion will probably have trouble generating investments or getting loans based on their tanked stock price.

Long term? It's gonna be alright. Selling a stock in GME doesn't mean you physically take possession of one or more bricks. And if a stock burns up, those same bricks don't vanish into the aether. It only directly affects the traded company when they do their initial offering and the buyer gives them the money. When the buyer sells the stock to another buyer, none of that money makes its way back to GME. So whatever. Let the bankers fight. GameStop will continue offering you crap deals on secondhand goods just like they always have.

Blogger Fernando Covett January 29, 2021 7:48 AM  

GameStop th3 5t347

Blogger Nate January 29, 2021 7:50 AM  

"I'm uneducated on all this, are regular Americans going to hurt financially in the short term (not including a bank bailout) or is this solely a solid 'fuck you' to these parasites with no downside? Thanks"

I confess I have no patience for normie investor whining and fretting over this. This is a great deal more than an Eff You. The hedgefunds exist to suck siphon money out of the market purely for themselves. They thrive by destroying good companies. The more healthy a company is before they destroy it... the more they make.

Ever wander what happened to Blackberry in the first place? Oh... Apple came along and made better phones and poor dumb blackberry just couldn't adapt. Except tons of other companies are making phones just fine. Blackberry was picked out by hedgefunds and deliberately destroyed. Thousands of really good manufacturing jobs were lost so the fat billionaires could buy a few more yachts. They short the stock... then they go on TV and run down the stock... which drives the price down. Then they get with their buddies in media who contribute by running down the products the company makes. They cannot lose. They never lose.

Until now.

So will normie investor get hurt? Does surgery hurt the patient? America has a bunch of leaches sucking billions out of its economy and destroying jobs. WSB is setting those leaches on fire.

Normie doesn't have to help. He can just stand on the sideline where you belong... fretting over your garbage 401k full of apple and facebook and microsoft.

Blogger Claudio January 29, 2021 7:51 AM  

Pandora's box is open. There is no way they can stop this! hahahahah

Blogger Black Bird January 29, 2021 7:57 AM  

Revenge of the little peoples Walstreet is one Big fake.
It’s all wallpaper. So tell me who is going to explain this to Biden. That would be fun to listen to. LOL

Blogger Doom January 29, 2021 8:00 AM  

As I remember it, most of us didn't support a bailout last time, actually... the last several times. They have proven they need neither our support nor our votes. If... it seems, they don't, yet, have complete dictatorial power of everything.

They did try to completely steal even this minor token thing. It was just too public? Too fresh after the election steal? Something. Don't expect it next time, or to last. Look to Hong Kong for the future.

Still, good show. I wonder if anyone is going to get disappeared or frog hopped to shove it in our faces? Whatevs... keep up the good work. I'd love to be on the front line, don't care about consequences. I just don't hop fast enough these days.

Blogger Ingot9455 January 29, 2021 8:05 AM  

The losses are not from pension funds. They are from over leveraged hedge funds.

But when the hedge fund (Melvin) goes bankrupt, it's their broker (Citadel) who has to make good on the short trades. That's why Citadel loaned Melvin 2 billion dollars to close their position.

Citadel is very big and a lot of people do business with them. If they go down. Then there's some confusion.

Blogger Jon January 29, 2021 8:13 AM  

Imagine if Americans invested their money in something useful, like your failing roads, more factories and job creating enterprises. Its time to put these snake oil salesman out on their arses where they belong

Blogger T.L. Ciottoli January 29, 2021 8:15 AM  

Normies? Who cares. If you’re too stupid, rich, and self-involved as to not realize what’s going on or have any empathy or sympathy for the masses who now live under the jackboot of the Jew and his orc and goblin minions, then fuck you anyway. You are either a goblin or orc yourself, or a hopelessly brainwashed lefty or Boomer Civnat. Which means you are the enemy of my people.

Blogger Avalanche January 29, 2021 8:18 AM  

@16 "Where GME stock can still be purchased:"

That horse is already in the next county... no point in locking THAT barn door now, is there? WHY would you try to buy Gamespot at XXX% of its value?!

The 'game' is supposed to be buy LOW and sell high....

Blogger Troushers January 29, 2021 8:18 AM  

Also - the men who potentially offered the greatest resistence were among the dead.

Blogger Balkan Yankee January 29, 2021 8:28 AM  

"I'm uneducated on all this, are regular Americans going to hurt financially in the short term (not including a bank bailout) or is this solely a solid 'fuck you' to these parasites with no downside?"

What Nate said.

I have substantial skin in the game, and I will take a sizable hit if the Great Short Squeeze of 2021 morphs into a sustained market downturn or a full-blown financial crisis.

And you know what? If that is what it takes to cut Wall Street psychopathy down to a manageable level, then that is what it is going take.

We didn't pick this fight. They did.

I'm at peace with the situation.

Blogger M In The 517 January 29, 2021 8:33 AM  



ErikEstradaYoureAFag.jpg

Shit happens when the entire Social Contract gets thrown down the memory hole.

And then at some point, (((they))) suddenly remember why it's good for (((them))) at the very least to appear and pretend to adhere to some kind of Social Contract.

Blogger rumpole5 January 29, 2021 8:33 AM  

Ad hominum is effective but it is puzzling to see it used by someone blessed with superior ability to analyze actual issues.

Blogger Maniac January 29, 2021 8:36 AM  

An article in the Financial Times claimed that some of the Redditors who helped launch this are members of the alt-Right.

Yeah, they're scared.

Blogger Charlie January 29, 2021 8:39 AM  

"One thing is clear from all of this. The America public is not going to support another bank bailout once the next financial crisis begins. They'd rather see Wall Street burn, and rightly so."

The only thing clear is that there will be another bank bailout and/or big business bailout. Too big to fail has not gone away.

The American public did not support the last bailout. We won't support this one either. Of course, not having anything to say whether it happens or not, we will be paying for the bailout.

Blogger Grandpa Lampshade January 29, 2021 8:52 AM  

Yet another sign of societal collapse.
Every single aspect of our "society" now is a hoax of some form or another. Our self appointed elites believe that since they control the media, government, banks, wall street, etc. that nothing can go wrong. Here's the thing though; once people cease believing in the legitimacy of the system, they no longer feel compelled to play their appointed role in the game as the losers. This Game Stop episode is a poignant example of what happens when nobody believes in the system anymore. These people have done nothing illegal and yet have found a way to stick their thumb in the eye of the oligarchy, using their own system against them.
When people believed the system on some level or another worked, you got "Occupy Wall Street", as though anyone cared if a bunch of people sat around chanting about the (((1%)))
When people know the entire system is illegitimate, you get hedge fund oligarchs losing billions and getting wrecked. They'll probably demand the government bail them out (and they'll probably get it, of course) but this will simply throw more fuel on the fire as yet the six millionth example of how corrupt the system is.

Side note: I'm looking forward to Mitt Romney explaining how it's totally necessary to spend billions or possibly trillions to bail these leaches out after having gone on record about being oh so concerned that we just can't afford to spend anymore on stimulus checks for the peasants.

Burn baby burn

Blogger JWM in SD January 29, 2021 8:54 AM  

"Ever wander what happened to Blackberry in the first place? Oh... Apple came along and made better phones and poor dumb blackberry just couldn't adapt. Except tons of other companies are making phones just fine. Blackberry was picked out by hedgefunds and deliberately destroyed. Thousands of really good manufacturing jobs were lost so the fat billionaires could buy a few more yachts. They short the stock... then they go on TV and run down the stock... which drives the price down. Then they get with their buddies in media who contribute by running down the products the company makes. They cannot lose. They never lose."

Precisely. I gave up trading almost 10 years ago because of the algo's and naked shorting made it impossible to predict wht should happen based on the real fundamentals of a company like blackberry. In the past couple of days, I have had to discuss this issue with "Robinhood" account holders and they have no idea what naked shorting...No F'ing Clue. Now these folks are not gamer autists either. They are just normies who saw app being advertised and wanted to get on the trend. They don't even know what is legal or proper treatment. ONe thought it was okay that the GME trading was restricted to sell only. They don't know what happened in 2008 to 2010. They dont know about MF Global and hypothecation. They don't know jackshit frankly which is why they have Robinhood account.

Blogger Harambe January 29, 2021 8:54 AM  

Nate makes a good point RE: Blackberry. They were obviously a very innovative company. Pretending like they couldn't innovate to keep up with a changing market is BS. They actually did make a good touchscreen smartphone right before they went titsup. So their demise can't be explained so easily. Nokia was in a worse position than them, and they're still around. But no one (that we know of) was deliberately leaching them dry.

Blogger Damelon Brinn January 29, 2021 8:55 AM  

are regular Americans going to hurt financially in the short term

Regular Americans aren't heavily invested in hedge funds. Melvin, the hedge under attack here, has seven (7) clients. Some of those clients may have regular Americans as investors, so there could be a trickle-down effect. But Melvin isn't holding your grandma's retirement savings.

If a significant portion of your pension is invested with a hedge fund, which is the claim they're making to scare you into begging for a bailout for a handful of small-hat billionaires, then you need to be preparing a special rope for your pension manager.

The "but muh pension" argument is a lot like the "but muh cheap avocados" argument against closing the borders. They've tried to make the middle class dependent on Wall Street the same way they made us dependent on cheap foreign labor. Ripping off that bandaid may hurt in the short term, but it has to be done unless we're willing to let them just keep leeching off us.

Blogger CoffeeGroundsBear January 29, 2021 8:57 AM  

Would you give a prediction of when the financial collapse may start and what are particularly good things to buy with the money now?

Blogger Harambe January 29, 2021 8:58 AM  

As someone who lost a lot of money on a stock that was manipulated in this fashion by a hedgefund, I say they can go to hell. They literally stole money from my child's education fund. And that made it very, very personal. If international air travel ever opens up again, I'd love nothing more than to go stand outside the building and yell "DO A BACKFLIP, BITCH".

Blogger Azure Amaranthine January 29, 2021 8:59 AM  

Particularly smart and courageous investors would now be looking at what companies are likely to become "suddenly and unexpectedly insolvent" (read: were financially propped up as useful puppets/tools/toys of the financiers about to go down in flames) and shorting those. Chop their legs off on both sides. Keep the fireball rolling forward over the ashes of wall street, everything must burn.

Another way to say it: piranha swarms had best eat everything before the larger fish can adjust to their presence.

A third way: momentum is in the little guy's court, and if the little guys can organize and OODA fast enough, the big bastards will never get back in the loop.

Blogger Nostromo January 29, 2021 9:16 AM  

With RH selling peoples shares of Game Stop without their consent, even if it is "for your own good", I don't see how that company can survive the coming lawsuits. The judges aren't going to save them as evidenced by both AOC and Cruz both wanting their political coup points. Like I told my wife, jews have a 5,000 year old tradition of being hated by the countries they infest, so maybe it's not the countries that are the problem.

Blogger Bigger Bunyip January 29, 2021 9:18 AM  

A couple of comments:
1. I'd estimate at least half the price movement of GME etc. stocks are other hedge funds who were not involved stepping in once this started and going long to both make big $$ and to destroy a competing hedgie
2. That whole things was relatively irrelevant as not big boys were stuck short. However in the case of silver JPM (who is basically the US treasury) are permanently short. They are as big as it gets. IMO, little chance the fed let's them be stuck on the wrong side of a silver spike, and will intervene. But if JPM starts to bleed we know this is legit, not a narrative, and the deep state is losing control (could be China going after the US treasury).
3. Re. Silver the kids were pretty smart to go after First Majestic Silver mining company - it has alpha moves and was heavily shorted by hedge funds. There would be even better plays to crush shorts in precious metals, but this was still a good one.

Blogger Azure Amaranthine January 29, 2021 9:22 AM  

"They've tried to make the middle class dependent on Wall Street the same way they made us dependent on cheap foreign labor."

We aren't actually dependent on cheap foreign labor beyond that we think we are. If it all went away today, almost all of us little guys would be adjusted in a few days to a month, and losing less of our blood, sweat, and tears to the likes of taxes, 0blammokare, and things like EBTs and social security.

The only ones that would be SOOL are the likes of exploitative monopolistic retailers and e-retailers, immigration dependent NGOs, and again, financier types who perpetually jew-I mean ratchet down "capitalist"ic slave shackles on the rest of us. Most everything else would rapidly reform in reverse order of how it's been deformed.

Blogger T.L. Ciottoli January 29, 2021 9:23 AM  

Balkan Yankee wrote:to cut Wall Street psychopathy down to a manageable level,

There is no 'manageable level' of Wall Street backed by a Federal Reserve dollar system. To think so is cuckery, of the financial policy sort.

Blogger rex@castaliahouse January 29, 2021 9:33 AM  

rumpole5 wrote:Ad hominum is effective but it is puzzling to see it used by someone blessed with superior ability to analyze actual issues.

Boomer go home.

Blogger SCBen January 29, 2021 9:35 AM  

I read some replies by people saying that this was hurting them as they were invested in those hedge funds. They didn't seem to mind the harm done to others by the actions taken by their hedge funds! I sold all my stock at record high prices before Basement Biden and his WRECKING CREW took over. I do believe the market has been artificially kept high so the PROSPECT of Joe in charge did not result in a total collapse and diminish his "shine"!! It's coming!!!

Blogger James Dixon January 29, 2021 9:35 AM  

> I'm uneducated on all this, are regular Americans going to hurt financially in the short term

No. This is solely a matter of bankrupting a couple of hedge funds. They don't let regular Americans anywhere near their doors. Long term it could hit the big banks too, and that could affect regular Americans, but nowhere near as much as it will affect the ruling class.

> There is no way they can stop this! hahahahah

Not without shutting down trading completely, no. There are too many way to attack the hedge funds.

> That's why Citadel loaned Melvin 2 billion dollars to close their position.

Except they've shorted more stock than there is to buy back.

> You are either a goblin or orc yourself, or a hopelessly brainwashed lefty or Boomer Civnat. Which means you are the enemy of my people.

A reasonable summation.

> I have substantial skin in the game, and I will take a sizable hit if the Great Short Squeeze of 2021 morphs into a sustained market downturn or a full-blown financial crisis.

Likewise, and I have absolutely no problem with it. It's going to happen eventually anyway.

> Of course, not having anything to say whether it happens or not, we will be paying for the bailout.

At this point, almost half of government operations are funded by debt. We won't be paying for anything unless we repay that debt, which we're not going to do.

> Would you give a prediction of when the financial collapse may start...

Anytime in the next 12 years or so. Seriously, predicting the exact timing of such things is almost impossible.

> ... and what are particularly good things to buy with the money now?

Farm land with a good water supply. Gold, silver, guns, ammo, food, alcohol. I'm sure I've missed somethings.

Blogger Karen took the Kids January 29, 2021 9:40 AM  

@Doktor Jeep Good point.

Blogger map January 29, 2021 9:41 AM  

Karen took the Kids wrote:I'm uneducated on all this, are regular Americans going to hurt financially in the short term (not including a bank bailout) or is this solely a solid 'fuck you' to these parasites with no downside? Thanks

The US stock market is $30 trillion. A $70 billion loss is trivial. The futures market in the Nasdaq 100 alone trades around $40-60 billion a day. So, no, this is not going to have a large effect on retail investors, although, you may want to pull any cash you have sitting in a trading account, just in case.

Remember, hedge funds are comparatively small. Companies like Schwab, Blackstone and Vanguard have nearly $15 trillion in assets under management so a Citadel or a Point72 isn't even as big as a single fund family managed by Vanguard.

The reason why they are so stressed out is that short-selling and derivatives are integral to how many of these hedge funds make money. Retail investors using these tools against them is huge because, what can they do? Ban derivatives and short-selling?

To put this in perspective, a fund greater than $100 million must publish a 13F. This 13F is a list of all positions that a fund has. The thing is, it requires only the long positions (the buys) be published...but not the shorts. There are companies like Whale Wisdom that will publish the 13F of any hedge fund. I looked at Citadel once and could not make heads or tails out of their portfolio because the shorts are not published. They had 7,000 positions with no rhyme or reason to their trading.

What I don't get is why these short-sellers did not hedge their positions. All they had to do was buy long-dated calls at the price of the short and then they would be protected against the short-squeeze.

Blogger Doktor Jeep January 29, 2021 10:01 AM  

By the way, gamers discovering the stock market has huge implications.

Anybody who played Eve Online and seen how the player driven economy is gamed might have at times wondered what would happen if these people started playing in the meatspace instead of for imaginary ISK.

That time may have come. Let's face a fact: games were like the Ghostbusters' spectral containment system. Except for autists. It has been breached now for nearly 7 years. And they are only getting started.

Notably the character who shut the containment system down in the original Ghostbusters acted very much like the kind of people we are dealing with these days.

Blogger Test 1 2 3 January 29, 2021 10:05 AM  

LMAAAAAAOOOOO @BrotherNathanael was outside the Federal Reserve Bank of Boston, shouting "Bless the Short Squeeze."

It's only January, guys. I wasn't expecting this much unbridled memetic energy to be unleashed this soon! Hold something back for February, at least!


[img]
https://media.gab.com/system/media_attachments/files/063/648/526/original/57ba201d41715212.png[/img]

Video

http://brothernathanaelchannel.com/watch_video.php?v=9YXS6B832GH2

Blogger Bigger Bunyip January 29, 2021 10:07 AM  

SEC just placed their "uptick rule" on GME, which while in place will basically stop naked short selling. This hangs the shorts out to dry. This is the opposite of Wall St protecting the over extended hedge funds. Sacrificial lambs for something bigger?

Blogger Crew January 29, 2021 10:10 AM  

There are claims that RH is only allowing people to purchase 5 shares in GME.

So much for opening up the buying.

Blogger FutureDeadWhiteButNotDeadYet Male January 29, 2021 10:11 AM  

@rumpole5
Boomers are children--mentally and spiritually.
Sit down. Shut up. Eat your pudding. Watch your TVs.
The grown-ups are talking.

Blogger JWM in SD January 29, 2021 10:25 AM  

Well...Karl's site is down now so maybe he got too close to the truth.

Blogger Teleport me off this rock January 29, 2021 10:31 AM  

One of the ironies is that in two previous "financial crises", the "villains" were retail specs shorting fake-ass companies with made-up numbers and thus exposing the fraud. There were even strident calls from the (((usual suspects))) to ban short selling altogether (for anyone who wasn't them).

Blogger OneWingedShark January 29, 2021 10:33 AM  

Karen took the Kids wrote:I'm uneducated on all this, are regular Americans going to hurt financially in the short term (not including a bank bailout) or is this solely a solid 'fuck you' to these parasites with no downside? Thanks
The simple 10-step rundown:
(1) Melvin Capital and some other hedge-funds short GameStop; this drives stock prices lower than they should be.
(2) /r/WallStreetBets notices it's undervalued @ $2/share and jokes that that they could buy GameStop stock.
(3) /r/WallStreetBets notices that thehedgefunds have shorted MORE STOCK THAN EXISTS ON THE PUBLIC MARKET.
(4) /r/WSB: "Now, wouldn't it be funny if we bought all that stock up??"
(5) Melvin et al are contractually obligated to buy [by today today] at the market-price when they cover their shorts.
(6) Melvin: "OH SHIT! STOCKS AREN'T $2/SHARE, THEY'RE $200+/SHARE, AND WER'RE ON THE HOOK FOR MORE SHARES THAN EXIST!!"
(7) /r/WSB: "No, I'm not selling!"
(8) /r/WSB: "Put another Buy in!"
(9) Melvin: *watches in horror as the price for the stock goes to $500, $700, $1000, $'THE US NATIONAL DEBT'*
(10) /r/WSB: (Laughter.*

Blogger SaltHarvest January 29, 2021 10:36 AM  

Rest assured that Democracy Supporters have no intention of grasping the nettle any time soon.

Blogger Teleport me off this rock January 29, 2021 10:41 AM  

The losses are from pension funds.

I haven't actually that particular hysterical prophecy of doom, which given the boomer baiting bias of MSM seems like the first fake crisis card to play. Are pensions even allowed (I know, I know) to invest in speculative hedge funds like this?
By the way sumthin', all the pensions are doomed not matter what happens. Oversold promises, underbought results.


There will also be a knock-on effect to everyone you would have spent your profits at.

Retail vict-, erm, "investors" were never going to profit from this at all. That's the point of the WSB Crusade.


If you invested with a broker who is now insolvent, you're not getting your money back.

Why would brokers go bust? This is bleeding the hedgies, not the investment banks. Not yet anyway, though Robinhood has dropped their own ass right into the gears on this (arbitration fascination strikes again!).

Blogger Teleport me off this rock January 29, 2021 10:44 AM  

On a more light-hearted note, Yahoo's commenting has been "temporarily" suspend for at least 6 months, and might be closer to 9. Eventually . . .

Blogger OneWingedShark January 29, 2021 10:52 AM  

oldvet1950 wrote:The only problem with your prediction is the gov't will do whatever it wants and the public will shriek like little girls. We have been shown the gov't does not need our support.
Call your Senator and Representative, call the SEC and FBI and report shenanigans, call your state representative, call your state AG and demand RICO and Antitrust investigations.
And, before you whine and cry about being shut down by appealing to the very government allowing this, as someone posted on the chans:
>the government is supporting the fraud
You. Don't. Get. It.
It's not about "we will win in court!", it's about removing EVERY sort of excuse from those in power.
>are you blind?
Again, it's not about what you think it is.
>what will it take for you to see that there is no recourse within the system?
And, when The People decide to hang these people, no-one will gainsay it.
It's about removing ALL legitimacy.
It's the offer of "Do Justice, and we'll quit" and then when they refuse to do Justice, having no excuse whatsoever when it is forced from their very lives.


This is the prospect being put forward: "Do Justice uniformly or lose ALL legitimacy."


Claudio wrote:Pandora's box is open. There is no way they can stop this! hahahahah
Laugh with me friend!
And also pray, that God will use this to bring the people of the US to Him, that His name will be glorified.

Avalanche wrote:
The 'game' is supposed to be buy LOW and sell high....

No, the game is: "Holy shit, these guys are CONTRACTUALLY OBILGATED TO BUY MORE STOCK THAN ACTUALLY EXISTS ON THE PUBLIC MARKET!"
Buy, buy and hold — buy and hold and laugh.

Blogger RadixMalorum January 29, 2021 10:59 AM  

They're already trying to deplatform WSB from the entire internet. Discord banned them the next day for "hate speech". It's really increasing blatant at this point the elites are exacerbating the existing multicultural divide to keep people distracted from going after them. It's a stupid short sight tactic since all that will do is cause the system to collapse faster.

Maybe they're just hoping to cash out before it does and hide out in Switzerland or New Zealand or something. I really hope whoever takes charge after the collapse and civil conflict sends some nuclear ICBMs to those places to clean out the cancer before it comes back.

Blogger Ominous Cowherd January 29, 2021 11:03 AM  

map wrote:What I don't get is why these short-sellers did not hedge their positions. All they had to do was buy long-dated calls at the price of the short and then they would be protected against the short-squeeze.
They never thought she'd lose. Sure, that's a little far afield, but you get the idea. They're the elites, the game is rigged for them, FOR THEM, DAMNIT, and none of this should ever have happened. It wasn't supposed to matter that they are a little stupid and very careless.

Blogger OneWingedShark January 29, 2021 11:04 AM  

map wrote:What I don't get is why these short-sellers did not hedge their positions. All they had to do was buy long-dated calls at the price of the short and then they would be protected against the short-squeeze.
This is the simplest question to answer: because they are 'smart' and can never be caught, and if they are caught they're connected and, quite simply, they believe that neither rules nor laws apply to them.

Blogger Didas Kalos January 29, 2021 11:05 AM  

@james Dixon. Yes, this.
Matthew 28:19-20

19 Go ye therefore, and teach all nations, baptizing them in the name of the Father, and of the Son, and of the Holy Ghost:

20 Teaching them to observe all things whatsoever I have commanded you: and, lo, I am with you always, even unto the end of the world. Amen.

I Didn't see the hide out part of the verse.

Blogger Ken Prescott January 29, 2021 11:17 AM  

That's going to drive the price insanely higher. Higher than just letting anyone buy as much as they can get.

Blogger Ken Prescott January 29, 2021 11:19 AM  

The brokers have to backstop the hedge funds. But they can't backstop this problem.

He who sells what isn't his'n must pay up or go to prison

Blogger Redbeard January 29, 2021 12:08 PM  

Looks like they're rolling out their controlled puppet now to steer the movement

https://www.wsj.com/articles/keith-gill-drove-the-gamestop-reddit-mania-he-talked-to-the-journal-11611931696

Blogger Mary E. January 29, 2021 12:37 PM  

Next play: everyone refuses to pay their student loan debt.

Blogger Jack Amok January 29, 2021 12:41 PM  

Wall Street investors are sitting on estimated year-to-date losses of $70.87 billion

It's not even February!

Blogger Jack Amok January 29, 2021 1:03 PM  

That horse is already in the next county... no point in locking THAT barn door now, is there? WHY would you try to buy Gamespot at XXX% of its value?!

The 'game' is supposed to be buy LOW and sell high....


Nope, the game isn't making money, it's burning thieves. Buying GME still helps burn thieves.

Blogger Nate January 29, 2021 1:05 PM  

Citron has tapped out boys! Citron Research will no longer report on short opportunities... they will only report on long baggers.

BOOM

Blogger Teleport me off this rock January 29, 2021 1:21 PM  

The MSM is reporting it, so the Gamestop gambit is over. If you really want to set up on next great TBTF ass-rape, it's SLV and GLD, the precious metal ETFs.

As many have said for so long, if everybody went out and bought 1 silver 1 OZ. coin, the bullion banks would be bankrupt from their shorts. Shoving the ETFs is the next best thing.

Blogger FUBARwest January 29, 2021 1:21 PM  

"Citron has tapped out boys! Citron Research will no longer report on short opportunities... they will only report on long baggers."

Is this going to apply to everyone or just the plebs while the in crowd still gets that information?

Blogger Damelon Brinn January 29, 2021 1:42 PM  

Nope, the game isn't making money, it's burning thieves.

It's hard for most people to understand the mentality here, which is essentially the same as GamerGate and Rabid Puppies. I see people trying to figure out what the end game is, or worrying that some other hedge fund will somehow profit from this, as if that would make it a failure. The same people would say GamerGate failed because gaming journalists are still out there shilling for game developers. But none of that matters, because the whole point is chaos.

There's a popular /pol/ meme that sort of describes, in the usual nonsensical rambling language, how the chans got involved in the Trump campaign, and it ends with "because they were bored and it was funny." This time it's "because they were bored and angry and it was funny." With this election steal, the establishment declared that we're not allowed to win anymore. Well, if you're not allowed to win the game, you scatter the pieces and set the board on fire. There's no "goal" beyond that, which means it's already been a success, and now we're just looking for more fuel to throw on the fire.

Blogger John January 29, 2021 3:05 PM  

Why? Are the hedge funds shorting popcorn? Buy and hold $PPC!!!

Blogger OneWingedShark January 29, 2021 3:09 PM  

Damelon Brinn wrote:This time it's "because they were bored and angry and it was funny." With this election steal, the establishment declared that we're not allowed to win anymore. Well, if you're not allowed to win the game, you scatter the pieces and set the board on fire. There's no "goal" beyond that, which means it's already been a success, and now we're just looking for more fuel to throw on the fire.
Not quite: it's now "be such a pain in the ass they flip the board."
And they're clos, real close: H. R. 127.

Blogger Jack Amok January 29, 2021 3:16 PM  

Is this going to apply to everyone or just the plebs while the in crowd still gets that information?

Shut it down! The Goy know! Shut it down!

Blogger Nate January 29, 2021 4:27 PM  

"Is this going to apply to everyone or just the plebs while the in crowd still gets that information?"

Its possible that Citron has actually changed teams. The Retail vs Wallstreet thing has been a big deal since march of 2020 and more than one big firm has run to serve the retail side because there is SO much money there.

Blogger The Lab Manager January 29, 2021 4:49 PM  

https://www.barnhardt.biz/2021/01/29/mailbag-portfolio-manager-im-done-this-is-insane-next-up-is-badthink-stocks-and-then-probably-gold-and-other-bets-against-the-fed/

Blogger Karen took the Kids January 29, 2021 4:50 PM  

Perfect, thank you.

Blogger Karen took the Kids January 29, 2021 4:51 PM  

Thanks map.

Blogger Karen took the Kids January 29, 2021 4:51 PM  

Thanks for the clarification.

Blogger Karen took the Kids January 29, 2021 4:52 PM  

Thanks for the response.

Blogger JM January 29, 2021 6:50 PM  

The GameStoppers now have their own theme song:

https://www.youtube.com/watch?v=rejpDqQUcV0&feature=youtu.be

Hilarious!

Blogger Gettimothy January 29, 2021 7:09 PM  

a good meme for the stonks markets

Blogger Ransom Smith January 29, 2021 7:25 PM  

There's a popular /pol/ meme that sort of describes, in the usual nonsensical rambling language
That meme makes perfect sense my friend.
Especially if you're a disaffected millennial as many channers are.

Blogger CoolHand January 29, 2021 7:59 PM  

@42 You're a terminal boomer Avalanche.

The purpose is to buy at any price, and HOLD, to destroy the hedgies.

This was never about profit, because this was never an investment.

It's a RAID.

Blogger John Rockwell January 29, 2021 8:07 PM  

FUBARwest wrote:"Citron has tapped out boys! Citron Research will no longer report on short opportunities... they will only report on long baggers."

Is this going to apply to everyone or just the plebs while the in crowd still gets that information?



incrowd gets the information.

Blogger Ominous Cowherd January 29, 2021 9:15 PM  

OneWingedShark wrote:Not quite: it's now "be such a pain in the ass they flip the board."

And they're clos, real close: H. R. 127.

I wonder if a full 100 million will not comply, or if it will only be 75 or so million?

Blogger Azure Amaranthine January 29, 2021 9:31 PM  

Probably north of 200 million, after all, a lot of felons and people otherwise ineligible to vote are armed, whether they're supposed to be or not.

Blogger CostelloM January 29, 2021 9:51 PM  

What the public wants is irrelevant. The public didn't want Joe Biden as president and delivered one of the most lopsided victories to Trump in the history of presidential elections. They'll go ahead and bail out Wall Street *again* because when have the politicians ever faced personal pain or ruin for being corrupt? It's not like voting them out of office is a credible threat anymore.

Blogger Unknown January 29, 2021 10:47 PM  

85. Jack Amok January 29, 2021 12:41 PM
Wall Street investors are sitting on estimated year-to-date losses of $70.87 billion



Ars Technica ( of Gamergate fame, so you know they have integrity to spare ) attempts to ride to the rescue of the billionaire hedge funds:
https://arstechnica.com/tech-policy/2021/01/the-gamestop-bubble-is-going-to-hurt-a-lot-of-ordinary-investors/

Blogger Ariadne Umbrella January 29, 2021 11:30 PM  

This comment has been removed by the author.

Blogger John Rockwell January 30, 2021 1:37 AM  

CostelloM wrote:What the public wants is irrelevant. The public didn't want Joe Biden as president and delivered one of the most lopsided victories to Trump in the history of presidential elections. They'll go ahead and bail out Wall Street *again* because when have the politicians ever faced personal pain or ruin for being corrupt? It's not like voting them out of office is a credible threat anymore.

Its not about what we want. But what we can do to asymmetrically take advantage of systemic weaknesses.

Blogger Ariadne Umbrella January 30, 2021 1:50 AM  

1. Omigoodness, the tendieman's song. Thank you for posting and
2. There are Boomers telling people to hold the stock, to break the Hedge Funds
3. There are Karens giving tutorials on how to call up companies and menace them with boycotts and social ostracism.

4. Karens getting self-righteous is big: it's what made the Civil Rights Act stuff stick: women at the kitchen table holding up the manners and morals judginess.

5. This is beautiful.

Blogger Blue Drache January 30, 2021 6:54 AM  

> 40 years of vulture capitalism.

And we can solely blame whom for this?

I'll give you a number of hints ... they wear small hats (especially on Saturdays), they're extremely overrepresented in Government, Banking and Media, and they believe that they're the Chosen People to rule the Earth. Oh ... and they also sacrifice goyim babies, eat foreskins, and other such horrible things.

Blogger Avalanche January 30, 2021 10:01 AM  

76. OneWingedShark
86. Jack Amok
90. Damelon Brinn
103. CoolHand

In my defense, yes I'm a boomer (and female), but I sort-of/mostly understand this stuff: not enough to enter the playing field, but enough to cheer madly for the winning team: OURS!

My "The 'game' is supposed to be buy LOW and sell high" was an answer to @16: "Where GME stock can still be purchased: link"

If our team has pushed the stock up to $200-300-whatever a share; and there ARE no shares left to buy -- hence the wailing and bleeding by the hedgies -- then where is our team supposed to find shares at a price OTHER than the one forced on -- and destroying -- the shorts?

Has not the move to silver / precious metals overtaken the Gamestock 'game'; isn't Gamestock now at the 'HOLD and laugh over champagne' position and the battle has moved to a new field?

Blogger Avalanche January 30, 2021 10:11 AM  

@107 "What the public wants is irrelevant. The public didn't want Joe Biden as president and delivered one of the most lopsided victories to Trump in the history of presidential elections. They'll go ahead and bail out Wall Street *again* because when have the politicians ever faced personal pain or ruin for being corrupt? It's not like voting them out of office is a credible threat anymore."

Yessss, and the lack of that credible threat is what has the pols fluttering around and quivering inside an allegedly unclimbable fence, having just moved the police and military OUTSIDE that fence...

The guy with the video of the soldiers and capitol police standing 10-15' apart all along the fence was wondering WHY they put them outside: was it the very small and polite pro-life prayer meeting down the street they feared? No, of course not! The problem with hiring a "mercenary" body guard, is all-too-often, it's easier for him to kill his master, than continue to stand around in the cold for a lesser 'fee.'

Perfect display of the idiot lib-commies both depending on the K-selected, right-side, very armed, and VOWED to the Constitution military/cops being automatons who merely follow their frightened directions -- and their 'reality' that anyone with a gun is suspect. Plastic soldier-boys (toys?) who don't mind being forced into a cold garage with one head/latrine for 5,000 mostly men... They can hardly inspect every single soldier and cop's online presence for "extremism.

Blogger Ominous Cowherd January 30, 2021 11:58 AM  

Azure Amaranthine wrote:Probably north of 200 million, after all, a lot of felons and people otherwise ineligible to vote are armed, whether they're supposed to be or not.
Once you don't get the license, you're committing a felony. After the first, I'm sure more felonies will suggest themselves.

Blogger Beery Swine January 30, 2021 12:27 PM  

Literally "Gamers rise up!"
This shitshow is friggin great. God bless them. Gamers are JUST NOW dipping their toes into the (((stock market))) and already the established and "highly successful" stock traders are shitting their pants.
Fucking gamers, keep it up. Keep it the fuck up. You'll get better at this, and remember the wise words of Martin Prince, Jr. from "The Simpsons":

Individually, we are weak like a single twig, but as a bundle we form a mighty faggot!

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