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Credit deflation and the reflation cycle to come (part 2)


spunko

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geordie_lurch

Chamath closed his position but discusses quite angrily at times how all this has been such an incredibly important event including how the hell can you have a 136% short position despite the CNBC (w)anchor trying to shoot him down...

 

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36 minutes ago, ThoughtCriminal said:

This is apparently the ringleader of fight club. 

 

I mean finance club....... 

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Yeah, this is more angry mob then rational investors.  Wall street might have bitten off more than they can chew this time.

fucking%20banned%20us.jpg?itok=tEC9-BmR

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ThoughtCriminal
6 minutes ago, Majorpain said:

Yeah, this is more angry mob then rational investors.  Wall street might have bitten off more than they can chew this time.

fucking%20banned%20us.jpg?itok=tEC9-BmR

Yup, people with fuck all to lose are the most dangerous. 

😂😂😂😂😂😂

 

Love the humour of these fuckers 

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7 hours ago, wherebee said:

Looks like the Melvin hedge fund has a lot of shorts coming due on friday.  That means if they are going to survive, they have to get in there and buy as much Gamestop stock as they can as soon as the market opens.  It's going to be carnage.

 

 

I thought they were playing the options? (i might be wrong). Usually the options expire on the monday and they either get called or put the stock. That means they have to go out into the market on monday which is why the market usually crashes on a monday. Short stock they will be able to hold as long as they have enough cash to cover the margin call. If they dont then the stock moons.

7 hours ago, wherebee said:

Looks like the Melvin hedge fund has a lot of shorts coming due on friday.  That means if they are going to survive, they have to get in there and buy as much Gamestop stock as they can as soon as the market opens.  It's going to be carnage.

 

 

I thought they were playing the options? (i might be wrong). Usually the options expire on the monday and they either get called or put the stock. That means they have to go out into the market on monday which is why the market usually crashes on a monday. Short stock they will be able to hold as long as they have enough cash to cover the margin call. If they dont then the stock moons.

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ThoughtCriminal

Well, we've had our fun. 

 

I'm sure the 1% will crush them today. 

 

I'll go back to mostly lurking after DB had to spend yesterday watching us shit post whilst thinking "aren't these pricks done yet?" 

 

Sorry DB. 

 

At least you got to bulk freeze your pizza dough. 

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10 hours ago, ThoughtCriminal said:

I've long thought we should do a mass investment with one of the trusted members in charge. 

 

I mean, we're all pretty like minded. 

 

And it's not like any of us are maniacs or anything. 

 

Well........... 🤔

Agree, @YRS gets my vote...sorry mate I know I give you a hard time but i couldn't resist this opportunity! :-) :-) :-)

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An Open Letter to Melvin Capital, CNBC, Boomers, and WSB

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Mods do not delete, this is important to me, please read

 

I was in my early teens during the '08 crisis. I vividly remember the enormous repercussions that the reckless actions by those on Wall Street had in my personal life, and the lives of those close to me. I was fortunate - my parents were prudent and a little paranoid, and they had some food storage saved up. When that crisis hit our family, we were able to keep our little house, but we lived off of pancake mix, and powdered milk, and beans and rice for a year. Ever since then, my parents have kept a food storage, and they keep it updated and fresh.

Those close to me, my friends and extended family, were not nearly as fortunate. My aunt moved in with us and paid what little rent she could to my family while she tried to find any sort of work. Do you know what tomato soup made out of school cafeteria ketchup packets taste like? My friends got to find out. Almost a year after the crisis' low, my dad had stabilized our income stream and to help out others, he was hiring my friends' dads for odd house work. One of them built a new closet in our guest room. Another one did some landscaping in our backyard. I will forever be so proud of my parents, because in a time of need, even when I have no doubt money was still tight, they had the mindfulness and compassion to help out those who absolutely needed it.

To Melvin Capital: you stand for everything that I hated during that time. You're a firm who makes money off of exploiting a company and manipulating markets and media to your advantage. Your continued existence is a sharp reminder that the ones in charge of so much hardship during the '08 crisis were not punished. And your blatant disregard for the law, made obvious months ago through your (for the Melvin lawyers out there: alleged) illegal naked short selling and more recently your obscene market manipulation after hours shows that you haven't learned a single thing since '08. And why would you? Your ilk were bailed out and rewarded for terrible and illegal financial decisions that negatively changed the lives of millions. I bought shares a few days ago. I dumped my savings into GME, paid my rent for this month with my credit card, and dumped my rent money into more GME (which for the people here at WSB, I would not recommend). And I'm holding. This is personal for me, and millions of others. You can drop the price of GME after hours $120, I'm not going anywhere. You can pay for thousands of reddit bots, I'm holding. You can get every mainstream media outlet to demonize us, I don't care. I'm making this as painful as I can for you.

To CNBC: you must realize your short term gains through promoting institutions' agenda is just that - short term. Your staple audience will soon become too old to care, and the millions of us, not just at WSB but every person affected by the '08 crash that's now paying attention to GME, are going to remember how you stuck up for the firms that ruined so many of us, and tried to tear down the little guys. I know for sure I'll remember this. In response, here is a list of CNBC sponsors and partners. They include, but are not limited to, IBM, Cisco, TMobile, JPMorgan, Oracle, and ZipRecruiter. Their parent company is NBCUniversal, owned by Comcast and GE.

To the boomers, and/or people close to that age, just now paying attention to these "millennial blog posts": you realize that, even if you weren't adversely effected by the '08 crash, your children and perhaps grandchildren most likely were? We're not enemies, we're on the same side. Stop listening to the media that's making us out to be market destroyers, and start rooting for us, because we have a once in a lifetime opportunity to punish the sort of people who caused so much pain and stress a decade ago, and we're taking that opportunity. Your children, your grandchildren, might have suffered as I described because of the institutions that we're fighting against. You really want to choose them, over your own family and friends? We're not asking you to risk your 401k or retirement fund on a single GME bet. We're just asking you to be understanding, supportive, and to not support the people that caused so much suffering a decade ago.

To WSB: you all are amazing. I imagine that I'm not the only one that this is personal for. I've read myself so many posts on what you guys went through during the '08 crash. Whether you're here for the gains, to stick it to the man as I am, or just to be part of a potentially market changing movement - thank you. Each and every one of you are the reason that we have this chance. I've never felt this optimistic about the future before. This is life changing amounts of money for so many of you, and to be part of a rare instance of a wealth distribution from the rich to the poor is just incredible. I love you all.

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ThoughtCriminal
Just now, MrXxxx said:

Agree, @YRS gets my vote...sorry mate I know I give you a hard time but i couldn't resist this opportunity! :-) :-) :-)

Your vote for being a mad bastard? Or to run our investment fund? 

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7 hours ago, ThoughtCriminal said:

They're getting reddit to close the forums, they're closing the broker access. 

 

We truly are ruled by scum

In the era of centralised monopoly's over social media, I'm surprised that people are still using these. They need to move on towards censorship resistant platforms (and if there isn't one up to scratch make one! )

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Democorruptcy
17 minutes ago, Majorpain said:

Yeah, this is more angry mob then rational investors.  Wall street might have bitten off more than they can chew this time.

I can understand their anger if it's largely younger folk. Reading that Reddit thread there seems to be lots of new people who have never bought shares before, throwing money at it just because they hate TPTB. The VIX is down so far so somebody must think TPTB are going to be able to close it down. There could be some bargains before that, as people sell to raise money to cover short positions in other things that they are worried about, then presumably if TPTB can close it down things spring back up. I'm putting some low orders in, just in case things dip.

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7 minutes ago, Green Devil said:

In the era of centralised monopoly's over social media, I'm surprised that people are still using these. They need to move on towards censorship resistant platforms (and if there isn't one up to scratch make one! )

In this day and age it seems impossible to me. The bigger it gets, it gets more dependent on others for hosting, banking.  Both of which can be removed.

Pressure can be put on the top person; who wants to become another Assange? You can tell that people are trying really hard to make up some crimes that WSB has committed.

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ThoughtCriminal
Just now, Boon said:

In this day and age it seems impossible to me. The bigger it gets, it gets more dependent on others for hosting, banking.  Both of which can be removed.

Pressure can be put on the top person; who wants to become another Assange? You can tell that people are trying really hard to make up some crimes that WSB has committed.

Funny you mention that. 

 

Can we all put on our surprised face? 

 

The catchall for the next few years will be "He was engaged in hate speech, we had to kill him/murder his family/torture his dog/sell his children into slavery" 

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DAX IS DUMPING! Got my arse kicked but I'll be back later for more fight club action...

UP the Reddit massive, fuck dem bankers!!! :Jumping:

 

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2 minutes ago, Boon said:

In this day and age it seems impossible to me. The bigger it gets, it gets more dependent on others for hosting, banking.  Both of which can be removed.

Pressure can be put on the top person; who wants to become another Assange? You can tell that people are trying really hard to make up some crimes that WSB has committed.

Market manipulation for financial gain is not legal. They have been moving too fast for the authorities but that won't last long, they wrote everything down on a public forum (that is a mistake the hedge fund managers don't make).

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5 minutes ago, planit said:

Market manipulation for financial gain is not legal

always seem to work for JP Morgan.....and other cunts 9_9

Those 5min charts are shit nowadays, I've gone down to 1min xD

 

races crash.jpeg

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ThoughtCriminal
4 minutes ago, MrXxxx said:

Both...there can be "genius in madness"! :-) :-)!

I'd go with that. 

 

I'm actually serious. 

 

DB for instance has often alluded to the riskier investments he'd be making if he were younger. 

 

Well why not create a mad bastards fund of high risk investments? 

 

Must be at least 30 of us active on here. Daft 100 quid each, abandon all hope of ever seeing it again and just give one of the sensible members license to go off his tits as far as risk is concerned. 

 

Not literally. I don't mean spend it all on hookers and coke then get kicked out by the wife. 

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Yadda yadda yadda
4 minutes ago, planit said:

Market manipulation for financial gain is not legal. They have been moving too fast for the authorities but that won't last long, they wrote everything down on a public forum (that is a mistake the hedge fund managers don't make).

I'm not sure laws have been broken here. All they have done is pointed out that a stock had short interest exceeding its market float. A big weakness in the market. Then explained how this can lead to a massive short squeeze.

They probably can be fitted up for something.

It very much looks like a shoeshine moment though.

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2 minutes ago, ThoughtCriminal said:

Well why not create a mad bastards fund of high risk investments? 

I'm in, call it 'rampers r us'

who we targetting first???

I need to go pick up some rubber.....tyres.......but let's go long rubber johnnies for starters??? :Jumping:

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8 minutes ago, planit said:

Market manipulation for financial gain is not legal unless you donate to the right political parties.. They have been moving too fast for the authorities but that won't last long, they wrote everything down on a public forum (that is a mistake the hedge fund managers don't make).

FTFY

https://boingboing.net/2014/09/18/the-olive-garden-all-you-can.html

Hedge funds have deliberately issued 'information' to the 'market' to drive stock down.  They then clean up.

For gamestop, the shorts exposure was 140%.  Nobody is contesting that figure.  That in itself is, in my view, market manipulation for financial gain.

Fuck, the whole of Wall Street is built on manipulating the market.  Ever seen wolf of wall street?

 

I'm cheering these guys and gals on.  It's another example of hypocrisy at the top being exposed by people power - same as the election fraud, same as twitter and facebook censorship being exposed by people sharing information, same as Gab and Parler being under attack.  It's part of the fightback against a dark future, in my view.

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Democorruptcy
6 minutes ago, Yadda yadda yadda said:

I'm not sure laws have been broken here. All they have done is pointed out that a stock had short interest exceeding its market float. A big weakness in the market. Then explained how this can lead to a massive short squeeze.

They probably can be fitted up for something.

It very much looks like a shoeshine moment though.

Yes, it was them that were shorting it would seem worse. All they are doing is buying. Though of course TPTB would call manipulation because they don't like it. It's not that much different to a talking head going on Bloomberg and they put the ticker up show the stock rising as he speaks. That's often to pump and dump to rob the retail investors! This whole episode largely relates to improvements in technology, it couldn't have been done in the old days. The high tech firms like to make their money but won't like technology working against them if it lowers their share prices in a general market sell off.

VIX was -8% now -4%.

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