We all saw what happened last week with the GameStop short squeeze incident.
Big Hedge Funds routinely play these short sell “Kill the Company” games.
“(M)any hedge funds have effectively ignored the suggestion by the Bank of England governor that they should stop betting that the share price of UK firms will fall.”
But the US stock market is demonstrably more corrupt than the UK’s – and just about everyone else’s.
Britain’s Big Bank ASKS Big Hedge to stop short selling – to save We the Littles. Which Big Hedge blithely ignores.
In the US? Not so much.
Of course, the people paying protection money never admit or acknowledge they’re paying protection money.
“Conspiracy theory?” You mean like this “conspiracy theory” from one month before the election?
One month after the election? Not so much conspiracy or theory.
But get a load of this….
“At 3 a.m. on Thursday, Tenev said that Robinhood’s operations team was sent a file by the clearinghouse that handles all stock trades – the National Securities Clearing Corporation (NSCC) – requesting a security deposit of $3 billion….
“‘(T)hey give us a file with the deposit and the request was around $3 billion, which is, you know, about an order of magnitude more than what it typically is.’”
The NSCC doing this – makes zero economic sense. It makes eminent Bigs crony sense.
The stock buyers were buying with cash. Therefore, the NSCC didn’t need to secure anything. Certainly not three billion dollars’ worth.
What the NSCC was securing – was Big Hedge. And that meant royally screwing We the Littles finally making a little money in their rigged game.
This is Big Money – cleaning up Big Hedge’s mess.
This was a small version of the very large 2008 housing market version that destroyed the global economy.
When Big Banks pretended the housing market wasn’t completely collapsing – thereby screwing the 2008 version of Redditors who had smartly shorted the housing market.
The Big Banks screwed these Little Guys – until they could join them in shorting the housing market enough to offset their long positions. Which massively exacerbated the global damage done.
Then the Big Banks got a trillion-plus-dollars in bailouts from Big Government – and paid themselves exorbitant bonuses. And in the end – one guy went to prison. ONE.
The Bigs have the system rigged and wired. And more and more, they know we know it – and they don’t care.
But they do sometimes pretend to care. For instance, Big Media and the Bigs-assisting-Left dress up helping their fellow Bigs – in populist, We the Littles language.
Except there’s big – and then there’s BIG.
Some of the Internet Service Providers (ISPs) are pretty big. Here five top US ISPs – and their Market Caps.
Verizon: $226 billion.
Comcast: $225 billion.
AT&T: $202 billion.
Charter: 120 billion.
CenturyLink: $13 billion.
But Big Tech wants Net Neutrality. In no small part because it is government mandating ISPs can charge Big Tech NOTHING for all the bandwidth they use.
So We the Littles have to pay MUCH more for our Internet access – to subsidize Big Tech paying NOTHING.
And Big Tech ain’t just big – they’re BIG.
Apple: $2.25 trillion.
Microsoft: $1.8 trillion.
Amazon: $1.7 trillion.
Google (Alphabet): $1.3 trillion.
Facebook: $739 billion.
Netflix: $239 billion.
That’s six companies – all larger than the nation’s largest ISP. Some of them many-multiple-times larger.
Apple, Microsoft, Amazon and Google could each purchase Verizon or Comcast with what they keep in their petty cash drawers.
Behold the pro-Net Neutrality Internet Association membership list. They represent multiple trillions of dollars of market cap wealth – and power.
To claim the fight for Net Neutrality is against big, vested interests is patently absurd.
If you’re fighting for Net Neutrality – you’re doing the bidding of the biggest companies and richest men in the history of the world.
How about that “grassroots push for Net Neutrality?” Yeah – not so much.
And why would We the Littles want Net Neutrality? It will drastically jack up our Internet costs – so we can all augment the profits of Trillion Dollar Big Tech.
Of course, Net Neutrality is MUCH bigger government. So of course Big Government is on board.
Oh – and remember how we said the Left is actually, routinely assisting the Bigs? Here’s Diet Communist joint Public Knowledge:
As we very recently and have repeatedly noted:
“If you find this confusing – that’s only because the Left is perpetually confused.”
On these whiplash-inducing heels – rides this Left-Right harmonic convergence….
But get not too “Unity!” cozy….
And the Bigs. Don’t forget the Bigs.
No one wants Net Neutrality – except the Bigs.
Want to bet the Bigs won’t get what they want?
What – no wager takers?
This first appeared in Red State.