Thursday News Roundup: Big Tech/Hedge Fund Oligarchs Team up in Day Trader Purge

Something happened related to the stock market yesterday that has everyone up in a frenzy this morning. I don’t really understand it all, but it involves Reddit, something called sub-Reddit and a group of day traders who assemble there, abusive hedge fund managers, short-selling, big tech oligarchs, NASDAQ and GameStop stock, which went way up during the day, but was driven back down in after hours trading. Glenn Greenwald posted a video that kind of explains it here:

When China Joe’s press spokesperson Jen Psaki was asked about it all, she responded by reminding everyone that we have our first female Treasury Secretary:

Holy crap. You just seriously can’t make this stuff up, folks.

Actually, that story at DailyWire does a decent job of kind of explaining what all the hubbub was about:

Biden administration Press Secretary Jen Psaki responded to questions about whether the White House was monitoring an ongoing, social media-driven stock surge by focusing on the Treasury Secretary’s gender.

As The Daily Wire reported Wednesday, the Reddit forum “r/wallstreetbets — the subreddit Wall Street Bets — seems to be the driving factor” in an “explosive stock market growth” for the video games retailer. “As members buy more stock, originally priced at under $5 just a few weeks ago, the stock price continues to increase, with ‘no signs of that collective action stopping anytime soon.’”

“GameStop, hedge funds’ most-hated stock, was targeted by an army of retail investors who marshaled forces against short sellers in online chat rooms. In the Reddit forum ‘wallstreetbets’ with more than 2 million subscribers, rookie investors encouraged each other to pile into GameStop’s shares and call options, creating massive short squeezes in the stock,” CNBC reported.

The effect has been immediate and dramatic, and The New York Times reports, has spread to other companies.

“Millions of amateur stock traders collectively are taking on some of Wall Street’s most sophisticated investors. They’ve piled into trades around companies that other investors had written off, pushing stock prices to stratospheric levels,” the outlet noted. “The main focus is GameStop, the troubled video game retailer. Its stock is up 1,600 percent so far this month, including Wednesday’s climb of 120 percent. AMC Entertainment was up 225 percent on Wednesday, and BlackBerry is up more than 250 percent this month.”

The battle between Wall Street bigwigs and recreational stock buyers has fueled concern in the financial sector, particularly given that Melvin Capital, the hedge fund trader targeted in the GameStop surge, had to beg for a $3 billion bailout from other investors in order “to shore up its finances.” At one point, rumors suggested Melvin Capital might even file for bankruptcy.

At her daily White House press conference Wednesday afternoon, Psaki responded to questions over whether the administration might get involved in the ongoing stock surge by noting that they’d just hired Janet Yellen as Treasury Secretary.

“Is the White House concerned about the stock market activity we’re seeing around GameStop and now some other stocks as well?” one reporter asked Psaki. “Have there been any conversations with the SEC about how to proceed?”

“Well, I’m also happy to repeat that we have the first female Treasury secretary and a team that’s surrounding her and often questions about markets,” Psaki replied.

[End]

Naturally, at the end of the day, the Big Tech oligarchs took sides with the big-money hedge fund oligarchs and shut down the day-trader sub-Reddit group for allegedly saying bad things. Because that’s how things work in China Joe Potato Head Biden’s totalitarian America, where people will now be arrested and charged with imaginary crimes by the DOJ for posting memes on Twitter that the government does not like.

For more on that last subject, check out the other piece I posted this morning.

Well, that escalated quickly.Yesterday I warned you that the media and Democrats were about to mount a full-on effort to brainwash all of you into wearing two masks at a time now. This morning, the Washington Post has a piece up kick-starting that campaign:

Kitty’s gonna need another mask:

caterville — Cat Wearing Gas Mask What's your caption?

Hey, where have we heard that “buy American” thing before?  – When Donald Trump campaigned on a pledge to force the federal government to “buy American” in 2016, the Democrats and their corrupt media toadies recoiled in horror, labeling him a jingoistic racist.

But when China Joe Potato Head Biden plagiarizes the exact same theme, Democrats and fake journalists everywhere praise him to the rafters.

From the story at Breitbart:

President Joe Biden received praise Monday for a new executive order encouraging the federal government to “buy American.” Remarkably, it echoed a similar executive order issued by President Donald Trump in early 2017.

In April 2017, Trump issued an Executive Order titled “Buy American and Hire American.” It declared:

(a) Buy American Laws. In order to promote economic and national security and to help stimulate economic growth, create good jobs at decent wages, strengthen our middle class, and support the American manufacturing and defense industrial bases, it shall be the policy of the executive branch to maximize, consistent with law, through terms and conditions of Federal financial assistance awards and Federal procurements, the use of goods, products, and materials produced in the United States.

(b) Hire American. In order to create higher wages and employment rates for workers in the United States, and to protect their economic interests, it shall be the policy of the executive branch to rigorously enforce and administer the laws governing entry into the United States of workers from abroad, including section 212(a)(5) of the Immigration and Nationality Act (8 U.S.C. 1182(a)(5)).

Biden’s new executive order, titled “Ensuring the Future Is Made in All of America by All of America’s Workers,” repeats much, though not all, of the same language as Trump’s executive order:

It is the policy of my Administration that the United States Government should, consistent with applicable law, use terms and conditions of Federal financial assistance awards and Federal procurements to maximize the use of goods, products, and materials produced in, and services offered in, the United States. The United States Government should, whenever possible, procure goods, products, materials, and services from sources that will help American businesses compete in strategic industries and help America’s workers thrive.

Trump issued several other “Buy American” orders during his presidency, including orders relating to infrastructure and the U.S. Postal Service.

Biden argued Monday that his executive order strengthened government policy by requiring agencies to approach the White House before issuing waivers that would allow federal government departments to buy goods or services abroad.

However, Biden’s order is weaker in one crucial respect: unlike Trump, Biden is not directing immigration authorities to  enforce “laws governing entry into the United States of workers from abroad” rigorously to protect American workers.

[End]

Hey, what else would you expect? China Joe has literally made a career out of plagiarizing and stealing the ideas of others to fill his otherwise empty cranium. That life’s strategy has now elevated him to the most powerful office on the face of the earth.

Why mess with success?

That is all.

Today’s news moves at a faster pace than ever before. Whatfinger.com is the only real conservative alternative to Drudge. It’s the tool I use to help keep up with all the day’s events, and it should be your tool, too.

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dick choad

So what else is new…………………….???

Gregg

Regarding Senator Paul’s actions of a couple of days ago:

While they may sound great and served the purpose of further exposing the worst of the RINOs, it was ultimately just words. Politicians are great at delivering words that ultimately mean nothing, especially when up for reelection.

Is it a coincidence that Senator Paul is up for reelection in 2022 and suddenly has grown a verbal backbone now that his party is in the minority and is relatively impotent? 

I don’t remember any such action by Paul during President Trump’s four years in office. He did rake Dr. Fluki over the coals a time or two but to no effect. However, I do remember him and Senator Lee (another supposed constitutionalist “Libertarian”) criticizing Trump for taking out Iran’s Soleimani and the other real terrorist leader (Baghdadi?) by not consulting people like Schiff, Feinstein, Pelosi and Schumer (who would probably leak the attack plans to Iran to ensure a Trump failure) prior to the action as an overstepping of his presidential war power authority. I don’t remember any such criticism of ‘the 0ne’ when ‘the 0ne’ was routinely using drones to take out our ‘enemies’ in a shooting gallery like video game.

Don’t get me wrong, I’m all for any help from alleged conservative lawmakers we can get, but it has to be real and produce results; not the ‘results’ like the barr/durham “investigations”. What we want from the supposed “loyal opposition” are some victories! The donkeys were able to blunt a lot of the Trump agenda in his first two years and beyond when they were in the minority.

They were able to force the appointment of a special council to “investigate” the Russia collusion hoax.

Let’s see how [in]effective mitch’s senators and whatever fraud who runs the GOP House Caucus is in getting a special counsel to investigate the election fraud that provably occurred.

Nothing short of that action with real indictments by a real INDEPENDENT prosecutor like a Mark Levin, Pam Bondi, Rudy Giuliani, Texas’ AG Paxton or even Senator Cruz will cut the mustard. It had better NOT be a bagpipe Barr or a John (Bull S.) Durham type conducting another nothing-burger joke.

If the GOP wants to stay relevant it had better force such action with as much fever as their “colleagues on the other side of the aisle” did and the special prosecutor had better go after everything having to do with 0bama/Biden-gate and the election fraud. Three or four special councils would not be excessive.   

This and not some go-nowhere senate floor speech, or senate or house hearing, or nonbinding resolution, or some arcane senate procedural exercise to embarrass a handful of politicians, or various and forever IG investigations that are worthless, must be on the agenda if the GOP has any hope of recovery.

And the prosecutions for the real crimes committed must be real unlike the crap that was the bogus Mueller probe. All the above special councils need a legitimate Weismann type pit-bull to force real actions on the real crimes, and not some milquetoast swamp hack like Fisk and Starr who can be bullied into submission. The two differences I would like to see in the respective special council investigations are defined and focused investigations and a mandated timeframe to get results to force real action using all legal, and constitutional procedures. There were crimes committed; there needs to be real convictions of the real criminals.

A special prosecutor into Mister Roberts, and Judge Sullivan and other members of the judicial branch would also be very beneficial, as would a special council for many members of congress of both parties. I want to know how so many members of congress got to be so rich – especially btfsplk – on salaries that paid less than 200K per year.

The donkeys, when in the minority, effectively ran much of congress; it is time the elephants do the same and fight fire with fire. If btfsplk’s DOJ refuses to appoint a special council(s) then force it to do so and force an explanation.

Helen G

It’s what I’ve been thinking about Senator Rand Paul. I wish I could give this a Billion likes.

Gregg

Thanks Helen G.

Gregg

I’ve dumped all my investments that are tied to the stock market; got out while the getting is good. The risk of another contrived bubble and crash is just too great. And even if there is no stock market crash in the near future the risk is just too great as the stock market, much like our federal reserve notes, is backed up by nothing and can be crashed by the whims of any of btfsplk’s lackeys or any foreign influence “who are not bad folks” when it suits their purpose.

Even if that crash doesn’t happen, the other plan to steal our wealth may well be:

Sooner or later btfsplk’s administration will pass a law or write up an EO that will somehow confiscate – through a wealth tax of some sort – a percentage of the people’s investments. The excuse will be the money is needed to pay for the CV-19 ‘stimulus’ or the Green New Deal, or “free” healthcare, or “free” college, or the forgiving of existing college loans, or to pay for any other ‘crisis” the Left wants to create and not let go to waste. The phrase will be “Come on man, get some skin in the game…”

They, the gubmint, can’t take YOUR money if it ain’t there.  

I have no faith in any quota hire hack that btfsplk appoints. Janet Yellen was ‘the 0ne’s’ former chair of the Federal Reserve – yeah, she did so well there.

My advice is to do everything you can to get out of debt, even the “good debt” such as home mortgage, and stock up on survival supplies such as food (and don’t forget pet food) etc. and keep an eye out for when inflation begins to hit. When that happens, cigarettes, booze, and even water will become much more valuable than paper money and even precious metals in a barter system. After all, you can’t eat gold.

tecwzrd

Even more important is the word “should” in Biden’s EO vs the word “shall”in Trump’s EO. If not familiar with Government contract law it’s understandable. The word “shall” is an absolute that must be done, while “should” is recommended but NOT required! The EO is pointless if it only says should because there are no penalties if ignored.

Gregg

Correct, but where were the penalties for noncompliance with Trump’s “shall” EOs?

If memory serves, only one (1) low level lackey (Clinesmith?) Of the deep state went to jail in four (4) years. Should have been hundreds.

Sadly, Sharon Campbell was right a couple of years ago when she wrote that only some low level flunky would actually get to see the inside of the grey bar hotel for about a month.

The Searchers

Clinesmith’s sentencing was postponed until after the election, maybe the inauguration, but was postponed, so I doubt he will actually have jail time at all. He had mitigating circumstances such as a new baby at home and not able to find work.
I suspect he might be sentenced to provide legal assistance to aliens, or something like that.

Gregg

Wow! So I can rob a bank, knock someone up, be (willingly) unable to find a job and not go to jail if I belong to the right club.

What, you mean none of his swamp buddies had his back? Can’t wait to see his new anti Trump book come out or be touted as a victim of the Trump Administration’s DOJ, and via paid appearances on the CNNs of the world.

Btfsplk probably pardons him without even knowing it if he gets sentenced at all.

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