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If you could crash the system by contributing 500 quid, would you?


If you could crash the system by contributing 500 quid, would you?  

62 members have voted

  1. 1. If you could crash the system by contributing 500 quid, would you?

    • Yes, fuck the system, burn it all down
      28
    • Yes, but it might all end in tears
      25
    • No, history shows revolutions almost always end up hurting the commons
      9
    • No, I am short Gamestop you pleb
      0


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So - there seems to be a bit of a thing amongst DOSBODDERS re gamestop.  Some (MT) say the retail investors are going to lose their shirts and it's a cunning ploy which the system will absorb to take money off the poor.  Some (me) say that retail investors are investing knowing they will probably lose it all, just to fuck over wall street and maybe crash the whole system.  The younger generations have rumbled the whole game is rigged.

What would you do?

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OK - here's my low-information, knuckle-dragging perspective, for what it's worth. I reckon the majority of participants will lose money in this adventure. Some will do very nicely out of it, enough t

The fact that rich people can lose money from bad financial decisions is one of the few moral justifications for capitalism. If it is removed by governments and central banks constantly bailing them o

Revolutions are never beneficial to the general plebeian, they are simply a means to remove one bunch of parasites and replace them with another.

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from yesterdays WSB reddit thread:

 

I don't belong here really, I am a 63 year old Grandma who knows really nothing about the market. I do know what it is like to have bigwigs from corporate expoit workers and profit from them.(retired after 32 years working for Blue Cross and other health insurance Cos.) I had $396.00 cash purchasing power on etrade from a pretty unused account. If I did it right, (got confirmation that trade was placed) bought one share of GME. I hope come Monday I do have it! It is the principal of this not the profit that motivated me

Carry on young'uns. You have given me hope for the future of your generation. I will hold!

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14 minutes ago, unregistered_guest said:

OK - here's my low-information, knuckle-dragging perspective, for what it's worth. I reckon the majority of participants will lose money in this adventure. Some will do very nicely out of it, enough to make the official narrative 'problematic', but that's the nature of investment anyway.

But, as we have already seen; if they get anywhere close to bringing down too many of the big players, strings will be pulled, illegal action will be taken in the name of 'saving our free market', but those acts themselves will completely undermine the basic principle of what a free market should be. 

Any attempt to redress this lunacy through the courts will be met with the response that allegations of a rigged market are so serious that if they were to be proven true, they would destroy Wall Street; therefore the court will refuse to investigate or judge on such a matter.

New regulations will follow to retrospectively legitimise the illegal plundering of individual investors' accounts if is necessary to ensure market stability.

Well the Chinese aready do this

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3 minutes ago, GBDamo said:

Revolutions are never beneficial to the general plebeian, they are simply a means to remove one bunch of parasites and replace them with another.

The majority will be significantly worse off which ever way this goes but one can only hope for a less crooked system with big business removed from representing their slaves.

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The institutions will never run out of money as in the last resort the government will simply print more and give it to them.  Having said that a play into PMs where people take delivery of the physical product is probably the thing that will discomfort Wall Street and government most as unlike shares and money printing there is physical constraint on the supply. In that respect I understand why some traders think it is a suitable target and they have focussed on silver because it’s price is currently low enough to attract small buyers. It is also a relatively easy to store non perishable commodity.  My problem with just looking at the capital value is that there is no  added value yield on PMs. That said all the time interest rates are near zero people may not worry about that point too much.
 

Looking at history the Hunt brothers tried and failed to corner the silver market in 1979 though they did bid up the price to $50 dollars in January 1980. The authorities were able to crash that bubble in March 1980 but they only achieved that result by raising interest rates to 20% and triggering the worse recession in post war history that basically wiped out much of the old industrial infrastructure in the US and U.K. It was that event which really began the absolute dominance of financial institutions in the western economy.

Edited by Virgil Caine
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The powers that be need to let Melvin Capital and possibly some other minor hedge funds collapse here. Bail out anything systemically important. They just need to give the little guy a symbolic win. Then they need to make sure that they don't go overboard with the shorting again. They'd be dumb to do that as it will be under constant review by people wanting to spot the next squeeze.

From reading the boards there are a lot of new people ready to put a small amount in on Monday. Collectively it ought to push the price up further. It could be that some other will sell out at that point. I really wouldn't be surprised to see it go up at open and then shoot about all over the place.

If instead of allowing the symbolic victory and becoming a little bit more humble they crack down then that could have consequences. Doing things like banning retail from options or banning free trades.  Or preventing access to information like short share selling numbers. Not hard to see people react by pulling their money out of all shares and crashing the broader market. Maybe going big into physical silver, gold and also crypto currency. 

Edited by Yadda yadda yadda
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Surely now that the shoe shine boy knows that Silver is to be stonked on Monday the hedge funds know how to play the game? If they have massive short positions then surely they will be the first in buying the bulk of it, selling about 10 mins later when Joe Gullible finally logs on when the price has already risen 15-20% and the hedge funds have covered thier short?

Or am i proving why i shouldnt, and dont play the markets?

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49 minutes ago, Virgil Caine said:

Looking at history the Hunt brothers tried and failed to corner the silver market in 1979 though they did bid up the price to $50 dollars in January 1980. The authorities were able to crash that bubble in March 1980 but they only achieved that result by raising interest rates to 20% and triggering the worse recession in post war history that basically wiped out much of the old industrial infrastructure in the US and U.K. It was that event which really began the absolute dominance of financial institutions in the western economy

yeah this is the interesting bit for me :Jumping: Don't forget

History Doesn't Repeat Itself, but It Often Rhymes” – Mark Twain

 

Edited by 5min OCD speculator
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2 minutes ago, Sucralose Ray Leonard said:

Surely now that the shoe shine boy knows that Silver is to be stonked on Monday the hedge funds know how to play the game? If they have massive short positions then surely they will be the first in buying the bulk of it, selling about 10 mins later when Joe Gullible finally logs on when the price has already risen 15-20% and the hedge funds have covered thier short?

Or am i proving why i shouldnt, and dont play the markets?

The reasons why people buy and hold physical PM are slightly different from why they buy shares. Gold prices tend to be tied to fiat currency supplies

https://seekingalpha.com/article/265225-determining-the-true-inflation-adjusted-gold-price#:~:text=Determining the True Inflation-Adjusted Gold Price , %243604.22 17 more rows #:~:text=Determining the True Inflation-Adjusted Gold Price , %243604.22 17 more rows

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12 minutes ago, Virgil Caine said:

The reasons why people buy and hold physical PM are slightly different from why they buy shares. Gold prices tend to be tied to fiat currency supplies

Last year the FED printed 35% of all US Dollars in existence, so they say :o

if the cunts can't keep DXY down this week we could see some interesting moves......what do you think?

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My gut feeling on the GameStop thing (from a position of no particular experience) is that it’s a sort of social media fad/mania more than anything else.

You have a company that looks like it might be in the shit,  with institutional investors making bets in that direction.  You then get a few attention seekers / pranksters who think they can manipulate the price by pumping it up just to feck over the institutional traders.   They create a social media sensation that sucks in lots of idiots to buy an essentially worthless stock at 100x it’s true value..  which they then sell at the peak of the mania netting $$$.  
 

The institutional investors lose money.

The idiots who jump on board the momentum train lose money.

The initial guys who came up with it take money from both of the above groups while claiming they have stuck it to the man.

The system remains standing just as it did before.

I don’t have any particular issue with it.. all’s fair in war and investment/gambling.     But no,  I wouldn’t want to give £500 to some smart ass internet influencer just so he can sell at a profit and gloat about how clever he is.   I’ll keep it for myself ta muchly. 

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59 minutes ago, Libspero said:

My gut feeling on the GameStop thing (from a position of no particular experience) is that it’s a sort of social media fad/mania more than anything else.

You have a company that looks like it might be in the shit,  with institutional investors making bets in that direction.  You then get a few attention seekers / pranksters who think they can manipulate the price by pumping it up just to feck over the institutional traders.   They create a social media sensation that sucks in lots of idiots to buy an essentially worthless stock at 100x it’s true value..  which they then sell at the peak of the mania netting $$$.  
 

The institutional investors lose money.

The idiots who jump on board the momentum train lose money.

The initial guys who came up with it take money from both of the above groups while claiming they have stuck it to the man.

The system remains standing just as it did before.

I don’t have any particular issue with it.. all’s fair in war and investment/gambling.     But no,  I wouldn’t want to give £500 to some smart ass internet influencer just so he can sell at a profit and gloat about how clever he is.   I’ll keep it for myself ta muchly. 

In this case it looks a bit more complicated. The WSB board has been around some time and a lot of people are buy and hold investors not speculators. GameStop is a company stuck with a bricks and mortar retail business but it is relatively cash rich and it is moving to delivering its stuff online. Some evidence too that after disposals it actually trades at a small profit.  It is possible that the underlying the aggressive shorts are  people who are looking to crash the share price so they can take it over cheap and asset strip it.  The company is therefore not as worthless as the short position suggests. The purpose of the market is to determine the correct value and that ultimately is what it will do left unconstrained burning both over exposed longs and shorts on the way.
 

The problem with these events is not that the people involved will lose money but the fact that some positions are probably highly leveraged so that when the price settles they will struggle to cover their margin calls. This looks a real possibility on the short side. Then the risk starts to overspill impacting people who play no role in the whole thing particularly when governments  and Central Banks decide to  start socialising the losses to protect their chums. I don’t think it is going to happen here because the trade is not remotely as big as something like the mortgage market in 2008.  It is however a red flag of what maybe to come.  It also has political implications because the Reddit crowd have effectively pulled back the curtain on the cosy relationship between big finance, big central banks and big government for a generation too young to have experienced  the 2008 banking crisis as adults. There is the possibility too that it is going to expose the sham of the upcoming impeachment trial of Trump as the Democrats now have to decide whether they let some of the Wall Street crowd to take one for the team. I expect the hypocrisyometer to go off the scale over the next few weeks as the usual suspects try to justify the indefensible.

Edited by Virgil Caine
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