Replies

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

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.

Note: I can't seem to get a hold of mods and they keep fucking removing the post. I have no idea how to get this to stick and its important to me that the people I'm addressing read it.

Posted byu/ssauronn 23 hours ago

I’m sympathetic to the writer, but shouldn’t she have included that this started with the Clintons? And if I remember correctly, George Bush warned that there were problems with housing lending. And I wonder if she voted for Clinton, Obama, and Biden.

Hedge funds make money by essentially stealing the equity of stock holders. The scheme is really quite simple. They target a listed company that is usually experiencing some temporary difficulties. They “short” the stock. The process is they “borrow” the targeted stock from those with large holdings for a fee and interest. They immedeatly sell the stock. Then with confederates in brokerage house and the MSM such as CNBC and the “financial press”, then begin a selling and disparagement campaign to drive down the value of the stock. When the price is low enough, the hedge fund buys the stock and returns it to the entity they “borrowed” it from. Example borrow 1,000,000 shares at $60/share, sell it obtain $60,000,000 in cash. Stock goes down to 45. Buy 1,000,000 shares cost $45,000,000, return stock to lenders, profit minus expenses about $15,000,000. Nothing created of economic worth, stock holders who sell lose their equity to the Hedge fund.

This is barely legal. The Hedge funds make huge contributions to politicos to avoid scrutiny and investigations. This episode with Robinhood and Gamesstop however will result in some eye opening civil suits and possibly ( but not likely given the current political realities) some criminal prosecutions.

Dear Jennifer; your hate is misplaced. It wasn’t shorts that screwed you, it was the Community Reinvestment Act combined with politicians forcing banks to make subprime loans...and then letting banks to turn a profit on them by doing something that had never been done before. That would be bundling the mortgages and then permitting them to sell bits and pieces of those securities.

The merry go round went faster and faster until they needed it to blow up before a Presidential election.

The closing of trade on stocks today was very telling. Their is several tiers to power in this country. Even if you were not part of the hostile short squeeze, please read about it They just reset the rules so the big dogs win. No pretense about it. Just shoved it down their throats. Pathetic. Tails you lose heads I I win.

The USA is dead Thousand cuts.

PING!

DeceptiCon Maneuvers, Don’t Forget Who Owns The New York Stock Exchange

Posted on January 28, 2021 by Sundance

With the elite financial class being increasingly exposed over the past 72 hours; and with the collusion between Big Tech and Wall Street in the public spotlight; and knowing the elite Washington DC establishment is a part of that entire corrupt system; and with millions of Americans more able to accept the scale of the issues; perhaps this is a moment to remind ourselves how the BIG CLUB works to deceive under false pretense.

Washington DC is part of the corrupt Wall Street, K-Street, Big Bank, and BIG TECH system. Everything within that system is self-serving and done deliberately with the intent to maintain a particular status for the people within it. This is the moment of opportunity to expose just how the DeceptiCons trick us… this is information and dot-connecting that created The Last Refuge. This is the bitter pill that needs to be swallowed.

Everything from within the DC system is designed to lie to you. Accept that and you begin to realize how events are NEVER what they appear on the surface.

The owner of the New York Stock Exchange (NYSE) is Jeffrey Sprecher. Remember the position of Senate Majority Leader Mitch McConnell in regards to Senator Loeffler? Well, Mr. Sprecher is the husband of former Senator Kelly Loeffler.

Kelly Loeffler’s seat was purchased by their elite status and position. Why would a billionaire run for an elected office paying a few hundred thousand?

Majority Leader Mitch McConnell positioned Loeffler with committee assignments based on that status of influence and affluence.

Jeffrey Sprecher and Kelly Loeffler entered politics for their elite interests.

The ruse of the DecptiCons is always that a motive to the benefit of the republic lies behind their candidacy. This is the same ruse that lay behind Mitt Romney, another DeceptiCon. There are no purely altruistic motives behind these politicians, particularly in the Senate.

Their motives are all about status, power and greed. They are not representatives of the people; they are representative of their own elite fellowship and interests, and this crosses both parties. Everything else is chaff and countermeasures to ensure their position.

That is the brutal and uncomfortable reality to accept. The entire system is corrupt.

The swamp is deep and filled with DeceptiCons who will strike at any given moment once they attain a useful position. President Trump went to Georgia to campaign for Senator Kelly Loeffler. Simultaneous to President Trump’s visible support, Loeffler’s husband Jeffrey Sprecher, owner of the New York Stock Exchange (NYSE), announced the NYSE will not blacklist Chinese telecommunications firms outlined in Trump’s executive order.

Background: On November 12, 2020, President Trump signed an executive order prohibiting American companies and individuals from owning shares in any of the 31 Chinese companies previously listed as enabling the People’s Liberation Army, effective Jan 11, 2021. Three telecommunications companies China Mobile Ltd., China Telecom Corp Ltd., China Unicom Hong Kong Ltd., were targeted.

Literally as President Trump was traveling to Georgia to rally in support of Senator Loeffler, the NYSE –owned by Loeffler’s husband– announced they would not delist the Chinese companies:

CNBC – The New York Stock Exchange said it no longer plans to delist three Chinese telecommunications giants.
In a late Monday statement, the NYSE said it dropped the plans after “further consultation with relevant regulatory authorities in connection with Office of Foreign Assets Control.”

[…] The exchange had originally planned to drop those listings in order to comply with an executive order that President Donald Trump signed in November. That order sought to bar American companies and individuals from investing in firms that the Trump administration alleged aid the Chinese military.
That ban is set to take effect Monday, a little more than a week before President-elect Joe Biden is set to to be inaugurated. (link)

Via Axios: “NYSE spokesperson Farrell Kramer declined to comment on what had changed in relation to compliance with the executive order. But Kramer referred Axios to a stock exchange statement saying that “in light of further consultation” it no longer intends to move forward with the delisting action.” (link)

Senator Kelly Loeffler and husband Jeffrey Sprecher, owner of NYSE

Kelly Loeffler was appointed by Georgia Governor Kemp because Loeffler is married to Jeffrey Sprecher; a GOPe party insider, mega-donor, and multi-millionaire CEO of the Intercontinental Exchange (ICE).

Jeffrey Sprecher is the founder and CEO of ICE, which now owns the New York Stock Exchange. Kelly Loeffler’s company, the financial platform Bakkt, is a subsidiary of the Intercontinental Exchange.

Corrupt as hell. All of it. Insider party schemes, combined with Deep Swamp politics and personal influence peddling for financial interests. The familiar network of personal financial benefit. In 2012 Mrs Loeffler donated $750,000 to Mitt Romney’s Super PAC.

Political connections is why Kelly Loeffler was selected by Governor Kemp, and that same pay-to-play political network is exactly why Nikki Haley originally endorsed her and campaigned for her in the 2020 election.

I have ZERO doubt Loeffler’s husband will be providing considerable financial payments to Nikki Haley in her run for the presidency. Transparent swamp dealing.

Yes, Jeffrey Sprecher owns the largest stock exchange in the world: the New York Stock Exchange with more than 2,400 listed companies and a market capitalization of about $22.9 trillion….. There are Always Trillions at Stake.

I was watching this with amusement, but I'm siding with the Reddit revolution on this one.
Its making THEM (coastal elites) hurt, and is exposing just how corrupt its gotten.
What's even better it that the stooges in DC are probably going to jump in on the side of their hedge fund benefactors, and while the average Joe may not understand shorts and puts and calls, they do understand corrupt politicians protecting their corrupt fellow travelers, while screwing over everyone not in the club.

CNN, CNBC, and the like can try to put lipstick on this pig, but it shreds any little credibility they still might have. By the responses on Reddit, it sure looks like a growing number of people aren't buying their BS anymore.

So long as the stock market does not materially interfere in standard, long-term stock investments, it is pretty much doing what it was designed to do.

If you evaluate a company, and think it has good prospects, and are correct, and buy the stock, and hold it, nothing done by short-sellers, reddit anarchists, or idiot day-traders will really matter.

The key is to never get in a position where you are forced to buy or sell.

I quoted this article in a post I made on another board.

http://www.ballparkguys.com/ubbthreads.php?ubb=showflat&Number=615030#Post615030