Financial sector aghast the poors are gaming system designed to be gamed by the rich

Zeedox

Resident Canadian
Dec 1, 2020
2,709
3,046
113
Canada's Ocean Playground

“We should just pull the plug on the whole thing until we can get some kind of entrance exam for buying stocks,” said Kendrick Atherton, the operator of a hedge fund who is deeply concerned that if the Redditors come after him, he will lose his fifth house and fourth wife. “Maybe something where if you can’t immediately discern which is the shrimp fork, or haven’t forced an abused employee to sign an NDA, you don’t get to play with the money the way we do.”
 

Zeedox

Resident Canadian
Dec 1, 2020
2,709
3,046
113
Canada's Ocean Playground
And although the above was satire you should know:


The U.S. Securities and Exchange Commission said in a statement on Wednesday the agency was "actively monitoring" market volatility without offering specifics. The Southern District of New York, which could have jurisdiction over a criminal case, declined to comment.


Wallstreet whine like babies when the market doesn't work they way they fixed it to work...
 

Gomez Adams

Grammar Fascist
Staff member
Dec 1, 2020
3,958
2,937
113
Suwanee, Georgia
exposingwot.com
The entire stock market is a joke. It is bogus in every way, shape and form imaginable.

Case in point: Tesla. It is presently trading over 1000% above it's GDP. That is impossible, but there it is. The most money Tesla has ever made is just this past year. They made 1.89% profit. That's it.

At that rate, the investors are losing money hand over fist every single second.

But it doesn't matter because Elon Musk and others at the top are all multi billionaires. Until it all comes crashing down, that is.

The only reason the day traders were allowed in to begin with is that nobody was investing anymore. Most people figured out after the dot com bubble that there really wasn't anything there.

And they were right. And there still isn't. That's why the Dow has nothing at all to do anymore with the economy. It's literally gambling for the wealthy.

If some yahoo off the street sits down at the table and takes them to the cleaners they have nobody to blame but themselves. They created the monster. Now they have to deal with it.
 
  • Like
Reactions: Zeedox

Gomez Adams

Grammar Fascist
Staff member
Dec 1, 2020
3,958
2,937
113
Suwanee, Georgia
exposingwot.com
They had this one Indian American on just now. He sank 8,000 dollars into it two days ago using an app called Robin Hood.

It's now worth just over 80,000 dollars. Well done!

They also showed a reporter asking about it at the White House press briefing yesterday. Billionaires don't like getting their ass handed to them on a silver platter, it seems.
 

Gomez Adams

Grammar Fascist
Staff member
Dec 1, 2020
3,958
2,937
113
Suwanee, Georgia
exposingwot.com
Now that Robinhood and those other apps shut down the ability to buy the stock it seems patently obvious that big business shut this whole thing down.

I'm really glad you brought this topic up. Typically, I don't care about the stock market. It has no bearing on my life and never has. But this is quite something.

It's the most blatant example of market manipulation on BOTH SIDES that I've ever seen. It is a case study is how worthless our market system is.

What's more, as of today, it's a clear example of how the rich can and always will make the system work in their favor at the expense of any outsider that learns the rules they play by.
 

Zeedox

Resident Canadian
Dec 1, 2020
2,709
3,046
113
Canada's Ocean Playground
The only thing I'll say in regards to the redditors 'manipulating the market' is they are simply holding onto a stock they believe has more value then the 'manipulated market' shows.