Posted on 01/29/2021 4:41:43 AM PST by blam
Rush Limbaugh on Thursday pointed to GameStop stock as the latest example of Washington elitists coming after ordinary Americans.
Shares of GameStop, a video game retailer, have soared in recent weeks, going from $17.08 to $347.51 at Tuesday's close.
Brokerage platforms such as Robinhood and TD Ameritrade restricted trading on Wednesday and Thursday following an unexpected surge in trading volume of various stocks. Limbaugh said the move was made to protect hedge fund billionaires, per Fox News.
"Folks, it's not just political now. The elites are bent out of shape that a bunch of average, ordinary users have figured out how to make themselves billionaires," Limbaugh said. "I’ve been studying it all morning and the best thing I can tell you is … whatever you think is going on in politics, Washington establishment, the Deep State, what have you, it's the same thing in finance."
According to Limbaugh, there are "those who are allowed to make a lot of money" and those who aren't.
"If you figure out how to make a lot of money, and if you're like Donald Trump and you figure out how to get elected, you figure out how to beat the Deep State, they're gonna come and they're gonna wipe you out," he said. "They're gonna destroy you, and that's what's happening with GameStop."
The radio host explained that users of the social website Reddit figured out how to "game the system." They joined together to turn the stock market in to a "profit-making device for themselves."
Unfortunately for the "ordinary" stock buyers and sellers, there were consequences.
"In the process they are harming the intended winners in this financial circumstance and that would be the hedge funds out there," he said.
(snip)
(Excerpt) Read more at newsmax.com ...
For me, very informative.
Seeing the authors name reminds me of Edgar Bergen.
“I heard Rush talk about this on his radio program yesterday. For me, very informative.”
Ditto. His explanation in the first few minutes of the show was the first time any of this made sense to me. Before that it was gobbledygook.
The elitists have called us deplorable. They find us revolting.
But when will that really happen?
Speaking of stocks, I heard Pelosi violated the Stock act of 2012 again by buying Telsa stock on insider information. Second time in 2 years, that’s twice she violated the law. If you’ll recall in 2011 she was caught trading on insider information and Congress claimed it was legal for her to do so but the public outrage was such that they came up with the Stock act of 2012 which made it illegal, Obama signed it into law. But did that stop Nancy? Nope. She traded illegally 2 years ago and now again Impeach her, remove her from office, lock her up.
Are the people that can get trading stopped in the middle of a trading day the same people that can get vote counting stopped in the middle of an election night?
Could have been by Mortimer Snerd, I suppose.
Selling short........ you believe a stock is going to go down. If you have the right type of account (margin account) the broker that does your trades will let you sell the stock even though you don’t own it. He loans it to you. So you sell 100 shares for 100 dollars per share. If the stock goes down to 50 you can buy the stock for 50 per share and pay off the loan from your brokerage firm. And you netted 50 dollars per share
If it goes up to 150 you have to buy it for 150 per share to pay off the loan. And you lost 50 per share..
The key is you have to have enough cash in the account all the time to pay off the loan. So you could sell other stuff you have in the account to keep the cash necessary. There is no limit to how high a stock can go, so your loss is unlimited. If it exceeds what you have in the account the broker will do a margin call and force you to liquidate your position (pay off the loan)
Basically, if you’re non-elite and you do what the elites do, they will throw the full power of government - federal state and local - at you. And the media will make you out to be a terrorist, Big Tech will take you offline, etc.
Everything boils down to we the people getting cheated. All the time, no matter the subject, no matter the season.
Absolutely! Welcome to your new reality, comrade!
The thing is.... GameStop cannot stay at $300 per share. It’s financials will not support that. It has to come down eventually. There is a lot of mo ey to be made there tight now..... you just have to buy enough time.
Gamestop is a $10- stock. Hedge funds lost money shorting it, and eventually people propping it up will also lose.
Thank you.
For all I am desperately trying to understand, your short but succinct explanation was one of the best.
I still am confused about this “borrowing” stock and all that is involved.
So far I have listened to Dan Bongino and Rush Limbaugh’s explanation. They were good but I still don’t understand it.
I am reading everything I can on it.
people propping it up will lose.
That was what I thought, that unless these people are buying and selling within a few minutes a lot of them are going to lose everything.
yes
Another thread wherein some people will post about the Redditor’s all losing money because they themselves don’t know how stocks work or what is actually happening.
Bingo. That’s exactly how the elites treated/ controlled Trump
You are correct. With the price going bananas, some hedge funds must have been nearing bankruptcy. It couldn’t happen to a more rotten bunch of predators.
Rush is spot on with this one. They will tell a politician to “buy this” or “short that” and it will go the way it needs to go. Invisible way to pay off politicians.
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