Suck It, Wall Street

TK News by Matt Taibbi ^ | 28 January 2021 | Matt Taibbi

[JohnnyP]

How does one buy physical silver? Coins or bullion? Local pawn/jewelry store ok?

[amorphous]

Reports of our "honorable" representatives soiling themselves during the "riot" brought tears to my eyes...

And to pile on the indignity of all indignities, some deplorable had the Gaul to set in Nan's chair!

What's the world coming to, when our elite can get no respect?

[Svartalfiar]

Whispers out there say the reddit crew & everyone that’s joined the party will not sell their shares until they see $1,000 per share

I thought the short seller already hit the brick wall and had to shell out ~$3B?

They don't have to actually buy the shares they fake-sold, they simply have to pay the actual original owner the current market value for them. Once that's done, there's no need for them to obtain the shares, and the price will crash back to about where it was originally.

[T.B. Yoits]

They don't have to actually buy the shares they fake-sold, they simply have to pay the actual original owner the current market value for them.

My understanding is that they have to buy the shares and return them to those they borrowed them from.

[thinden]

my brokerage account showed GME short interest on 1/15/21 at 121.91%

another service I use shows friday closing quotes & short interest at 131.76% but doesn’t specify the date

there has been some selling since fridays close, so prolly reduced short interest over the weekend, but no official numbers

[Still Thinking]

Oh yeah, cause McStain’s a paragon of virtue when it comes to financial institution integrity. [eyeroll]

[Still Thinking]

Or be extras at a mostly peaceful Antifa rally and BBQ.

[Jane Long]

Evening market is open, now, isn’t it?

[Salvavida]

Yes it is. It’s up 1.84.

[CodeToad]

Physical silver is gone, or at least gone enough you’ll probably not get any.

[Justa]

We used to join in on short squeezes via Yahoo message boards in the 90s. They are more aptly named Bear Traps. Back then you didn’t even know who the shorts were, just the short interest on a stock. When it was high word got out and we’d buy the stock going down to trap-the-bears. For all we knew the shorters were other retail investors. Not so today.

Short squeezees are as old as shorting.

[Svartalfiar]

My understanding is that they have to buy the shares and return them to those they borrowed them from.

Maybe, I don't know stock stuff as well as I wish I did, but I would think the "lender" would accept the greater of the original market value, or current value, of those shares instead. Probably varies depending on the agreement.

But I don't see why 'borrowing' shares is legal - if you're selling them, you should have full ownership rights in the item you're selling. Borrowing and 'selling' is basically legal fraud.