X22 Report covers it. Also Tucker Carlson had a great segment two nights ago.
https://rumble.com/vdd9kf-ep.-2390a-cbds-exposed-to-all-the-entire-system-is-rigged.html
Here's the gist:
Melvin Capital, a hedge fund, bought a huge amount of "shorts" on GameStop stock to Drive down the price and make a killing. This would have put GameStop out of business if it worked.
A guy on a Reddit board for investors discovered Melvin Capital's short positions and convinced a bunch of small investors to buy the stock at a low price. (It also appears that some big investors jumped on the bandwagon too.) The high number of trades drove the stock up something like 1700%
The price zoomed higher after Elon Musk linked to the Reddit board discussing the GameStop trades (WallStreetBets)
Because the price rose rather than fell like Melvin Capital expected, they lost billions of dollars (reportedly upwards of $13 billion).
To staunch the losses by Melvin Capital, Robinhood trading platform and E*Trade suspended trades of GameStock (which is unheard of)
A whistleblower at Robinhood posted on one of the boards that Robinhood stopped trading AFTER they received a call from the White House asking them to do so (likely Treasury Secretary Janet Yellen)
Melvin Capital is owned by Citadel Hedge Fund (one of the largest in the world). Janet Yellen received $810K in speaking fees from Citadel in the past few years. So it appears she intervened on the behalf of Citadel
Melvin Capital is insolvent at this point -- but the losses would have been much worse if the trades were allowed to continue as they should have in a free market system
Yesterday Elon tweeted about the rigged system. He clearly exposed the game on purpose. Read it here: https://twitter.com/elonmusk/status/1354890601649610753
The bottom line is that the system is rigged for the elite and well connected. Elon & the day traders from Reddit exposed this BIGLY.
Yes, this is hopefully an eyeopener for many people on how corrupt the system is!
Hopefully they see the connection to the Dems and the rest of the cabal...
Thanks for the information, maybe because it is in bullet form; I finally understood. Do we know if the Reddit group was trying to save GameStop?
WallStreetBets
.
Just saw this one. Adding to the list.
Elon Musk drove the price even higher after tweeted a link to the Reddit board:
https://www.cnbc.com/video/2021/01/27/gamestop-jumps-elon-musk-tweet-link-reddit-board-experts.html
He did it on purpose the expose the market rigging activity. See this tweet:
Interesting. I just posted an article of a fb group, banned as early as 7 Jan. The group was "wall street" investment group. I am glad they have made the exposure but with Yellen as Treasury Secretary, she has been paid big bucks for something and I cannot believe it is for her great amount of finance knowledge.
Great synopsis! Thank you. But why GameStop?
Because the guy on the Reddit board discovered the huge number of shorts against Gamestop and he saw an opportunity because the share price was very low. It could be any stock where the price was low and shorts had been placed against the stock.
Makes sense. I didn’t know if GameStop was a specific target or just a supposedly easy target. Thanks.
(post is archived)