Here’s an intro explanation I liked. MM text begins below the screencap. Apparently the idea is that these financial elites agreed to put Gamestop out of business before Friday, releasing them from their obligations.
EDITED FOR POSTING, ADDED LINKS
‘GME SHORT SQUEEZE SLIPS THE MASK’
What happened today, Jan 27, 2020, with the GME (and to a lesser extent: AMC, NOK, BB, etc) short squeeze and the subsequent rallying of all of power to silence retail traders who have banded together to push the stock higher, is exactly the kind of thing that gives me immense hope, because of how absolutely unjustifiable it is to even common people to see all the powerful institutions band together to protect some fucking ‘hedge’ funds that are shit at risk management.
Here’s a rundown of the day:
-The brokers- Schwab, TD, etc shutting down for long stretches (Can attest personally. Schwab wasn’t down even in March of 2020, much crazier vol, so yes it is coordinated)
-The media losing their shit, calling ppl that bought gamestop white supremacists, blaming Trump, being retarded:
Here’s just one little GEM: “How Trumpism explains the GameStop stock surge”
-Nasdaq CEO suggesting halting trading to help Melvin Capital and gang.
-The fuckin SEC opening an investigation
-Fed chair Jerome Powell talking about it at the federal reserve hearing
-The White House: “monitoring the situation” (but actually- not like Trump)
-big tech censorship (WSB discord banned for “hate speech”), much more of this to come in coming days/weeks unfortunately.
The general semi-normie response:
Normies scratching their heads asking
“wait, if you buy Gamestop stock you are a white supremacist?”
“wait, all of power thinks we should not be allowed to talk about stocks in public, or go against institutional money?”
“Wait, they might halt the stock for DAYS explicitly to screw the little guy and allow shorts to cover/get out?”
“wait, they dont just get near infinite bailouts, they are never allowed to lose, and we are not allowed to win?!”
“wait I might go to jail because me and others discovered 130+ percent of GME’s float was shorted (illegal, btw) and we talked about it on a public forum and now are under investigation, some of us may perhaps actually go to jail!? When market makers openly coordinate with each other and all of the media engage in daily and actually illegal coordinated market manipulation!!?!”
Wall street bets Discord banned, the reddit probly next, and if the big boys DO NOT manage to push GME down before friday options expiry (literally all calls will expire in-the-money) then GME has another massive leg up. 1000 is entirely possible (Do not buy now unless you assume you will lose what you put in and are ok with that).
The institutions are going to do whatever they can to stop this. They have to, considering that WSB/retail could just keep doing it with other extremely shorted stocks like Bed Bath and Beyond.
Its not just about money though, which they have lost a fucking ton of by the way:
It’s about financially DESTROYING the people who had the audacity to take a swing at them.
This is not the same is shutting down 4chan, or the usual shit. No.
This fucking crap from the powers that be is pissing off people with actual balls and collectively enormous bank accounts.
2016 tier. Far more emotionally blatant to a normie then 2008 bailout or even 2020 bailouts.
Pissing off dissatisfied young white men dis-proportionally. An inflection point.
Near open admission that the rigged market of global finance is the engine that powers cultural tyranny.
Also, things are about to get rough.
“How will they distract people this time?”
This is also the first move to truly being disallowed from participation in any part of the economy for non-elites.
Anyway, this was something you should all know about. Hence, the breakdown.
It’ll keep being crazy for a while. I hope they make their power grabbing and double standards even more blatant, show everyone the reality of this open air hellhole of a country while we have the demographics to fix it.
HOW WERE THE ACTUALLY CHEATING SENATORS ON THE SENATE INTELLIGENCE COMMITTEE TREATED, IN COMPARISON???
(tldr- investigation dropped)
(Feinstein just fucked up again, and Nancy Pelosi’s husband bought a shit load of EV stock- Tesla, I believe, right before Biden announced he wanted all gov vehicles to be electric. Fuck these people.)
Bonus bonus: CCIV merger best play in terms of risk/reward if lucid merger announced for realzies and if got under 50 bucks. Just dont hold into the merger, SPACs run up then dump. Very predictable, look at Hylion.
Last thought: Hope they don’t spiral the market into a crash just so they can say “see, you peasants ruined everything”.