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No Chinese company involved in the CCP’s genocide, human rights abuses and use of forced labor should be able to access our markets and raise money from American investors -- House Speaker Nancy Pelosi, D-Calif. and Senate Majority Leader Chuck Schumer, D-N.Y. say they want to send what's being called a big China bill to President Joe Biden. That's Washington-speak for major legislation that will push back on China's economic power. But to back up their words with action, the two Democratic leaders are going to have to take on one of Washington’s most powerful special interest groups and financiers...

Wall Street trading will never be the same again. This “thing” they call the meme stocks, the Reddit Army, the Robin Hood traders -- it's not a fad. It’s real. And it has only just begun to change Wall Street forever. What happened? In the last few years, the friction that used to benefit the powerful in the system of trading stocks has been eliminated. And on top of that, social media has become widely adopted and used by bajillions of people around the world. The way this has changed things requires us to look at the way things were...

Woke capital, like the railroad barons of 150 years ago, leverages its economic power for its own privileges and purposes, increasingly inimical to those of red state workers, voters, and taxpayers. It is indefensible that red state governments are heavy investors in an economic structure dedicated to their repression, and that state workers have their long-term economic interests aligned against their own employers, the taxpayers. State pension funds should sell Wall Street and buy American.

These disclosures were provided by the White House to CNBC early Saturday morning after requesting the documents a day earlier. None of these positions were confirmed by the Senate. Many of these advisors have previous ties to Biden’s campaign or former President Barack Obama’s administration. A White House spokesperson did not return a follow up request for comment. Deese was previously the Global Head of Sustainable Investing at BlackRock before becoming the head of the National Economic Council. While at the investment firm, Deese’s disclosure shows he made over $2.3 million in salary and bonuses. His disclosure also suggests that...

S&P Futures 3,982.75 +8.75(+0.22%) Dow Futures 33,101.00 +84.00(+0.25%) Nasdaq Futures 13,234.00 +32.50(+0.25%) Russell 2000 Futures 2,339.00 +4.60(+0.20%)

The GameStop hearing on Capitol Hill was a chance for elective leaders to challenge Wall Street hedge funds on the ethics of taking large short positions on struggling stocks.However, viewers of the highly anticipated hearing were left with plenty of questions and few answers. In fact, the only clear answer from Thursday’s hearing was the majority of politicians on Capitol Hill seem to favor the elites on Wall Street over working class Americans. ...While committee members seemed to completely dismiss the idea that Melvin Capital and other hedge funds conducted an illegal naked short on GameStop, one person who did...

Here’s the secret banks in Indiana don’t want Hoosiers to know. Big banks discriminate. They do it all the time and they’re fighting hard to make sure that doesn’t change. Banks have been openly discriminating against businesses they feel have fallen out of political favor. The firearm industry knows this all too well. This has been happening since the Obama administration, when then-U.S. Attorney General Eric Holder instituted Operation Choke Point. It was an illegal scheme contrived to use the muscle of the Federal Deposit Insurance Corporation, which backs banks’ assets with taxpayer funds, to force banks to deny banking...

Once upon a time, stock trading served as a way for businesses to raise capital and for traders to make investments. If companies flourished, stocks rose and investors made money; if not, stocks fell and investors lost money. This was the way the stock market was intended to function. Over time, however, more and more rules and regulations were added, each to address something that at the time was thought necessary to prevent cheating and manipulation. Just like the proverbial “Road to Hell,” Wall Street became paved with regulatory good intentions. Instead of eradicating cheating, manipulation, and fraud every new...

Redditors captured national headlines last month by driving the price of GameStop stock over 14,000%, catching bearish institutional investors in a classic “short squeeze.” A spike last Wednesday drove the shares up 40% and sent the broader market into a frenzy. Everyone wanted in on the action. New “meme stocks” like AMC, Nokia, and Blackberry—hot brand names from 2005—percolated up from the online ferment to ride the tail winds of GameStop’s success. Dave Portnoy of Barstool Sports purportedly invested a million bucks in a handful of these names. Others followed. I followed. On Wednesday, 1.25 billion shares of AMC were...

There’s nothing more tiresome than hackneyed references to The Matrix, except for the constant propaganda we’re hosed down with by the Establishment and its media lackeys about how everything is groovy in our totally free, free enterprise paradise of freedom and happiness and more freedom. Some of us have been woke for a while, having realized the undeniable truth that the system is rigged for the benefit of a garbage ruling class, whose sole accomplishment is to perpetuate a paradigm in which they maintain power and prestige by controlling institutions they didn’t create or build. Instead, they are cultural trust...

The silver markets are rigged. Every day. Every trade. Every option. Every derivative. The silver markets have been rigged since the early 1970's when Alan Greenspan introduced computer market trading systems to the world beginning the long term commodity market rigging operation. Greenspan's Golden Secret //www.roadtoroota.com/public/101.cfm Since that time there has not been a day when the silver markets have been "freely traded". Nobody, and I mean NOBODY, knows the true "Fair Market Value" of silver! But like all price suppression schemes, the silver manipulation must come to an end and we are on the brink of that moment. The...

Like the mighty Gulliver pinned down by the Lilliputians, the Reddit Raiders have had the giant hedge fund boys tied up in knots. The suits were executing a classic short squeeze where they collectively shorted GameStop shares. It’s a time tested strategy where their shorts alone were virtually guaranteed to drive the stock price down. They consistently made hefty profits while the small shareholders lost big. But a funny thing happened to the wolves on the way to this kill. They ran into an army of small day traders, armed with laptops. A few did the research and shared it...

Matt Taibbi In the fall of 2008, America’s wealthiest companies were in a pickle. Short-selling hedge funds, smelling blood as the global economy cratered, loaded up with bets against finance stocks, pouring downward pressure on teetering, hyper-leveraged firms like Morgan Stanley and Citigroup. The free-market purists at the banks begged the government to stop the music, and when the S.E.C. complied with a ban on financial short sales, conventional wisdom let out a cheer. "This will absolutely make a difference," economist Peter Cardillo told CNN. "Now, if there is any good news, shorts will have to cover.” At the...

Go ahead, punk, make my day.If you don’t understand hedge funds here’s a Cliff’s Notes version: A hedge fund is a pooled investment structure set up by a money manager designed to make a return on capital.A hedge fund isn't a specific type of investment, but rather a vehicle for investment.Big Hedge Funds use capital from accredited investors (High Net Worth Individuals, Pension Funds, Charitable Foundations, University Endowments) to execute various market transactions.Often the types of transactions involve risky instruments such as short selling, leverage, derivatives (puts, calls, options, futures) intended to “hedge” the risk exposure of the fund’s capital...

The rules here are simple: Heads Wall Street wins, tails you lose.For those who haven’t heard, there’s a bit of a brouhaha brewing with the video game retailer GameStop, which is publicly traded. Much of Wall Street soured on the company, believing it to be the next Blockbuster or Radio Shack: a dinosaur from a bygone era that has no hope of succeeding in the increasingly internet-run future. As a result, a major Wall Street hedge fund worth billions decided to make a bet that the company’s already low stock price would just keep going lower. The traditional way to...

The beneficiaries of Wall Street’s cash flow have stacked President Joe Biden’s cabinet picks to head various agencies, including the Treasury Department, Transportation Department, and State Department. Despite claims to be at odds with Wall Street throughout the 2020 presidential election, Biden is stacking his cabinet with allies and the beneficiaries of some of the nation’s biggest banks. The appointments are not a surprise for the Washington, DC, beltway as Wall Street spent $74 million to unseat former President Trump. When Vice President Kamala Harris was picked as Biden’s running mate, Wall Street executives and hedge fund managers praised the...

Jon Stewart was prompted to join Twitter on Thursday to defend the renegade Reddit traders who turned Wall Street upside down this week. The former “Daily Show” host hit back at critics of the rogue day traders who used WallStreetBets to send GameStop’s stock skyrocketing in defiance of large hedge funds shorting the business. “This is ********. The Redditors aren’t cheating, they’re joining a party Wall Street insiders have been enjoying for years,” Stewart tweeted.

Janet Yellen, President-elect Joe Biden’s pick for Treasury secretary, collected more than $7 million in speaking fees during more than 50 in-person and virtual engagements over the past two years, according to financial disclosures released Thursday. Her fees came from Citadel too – which has invested billions of dollars in the primary hedge fund now suffering as a result of the GameStop stock surge. Yellen’s financial disclosures reveal over 60 speeches to financial firms, and items 25, 29, and 49 on the list shows her receiving a sum of $810,000 from Citadel in speaking fees. Image below: On Thursday, Robinhood,...

The small investors on the r/Wallstreetbets subreddit (which has 2 million subscribers) and other sites are taking part in a conscious collective effort to drive the prices of these stocks up--most famously GameStop. Many fund managers short sell stocks as a hedge and/or speculation. But if the price goes up to fast, short sellers get stuck and have to cover the short position by purchasing the stocks outright. This causes upward pressure on the prices of stocks.Here is a list of stocks with the highest percentage of short positions compared to eligible shares.Note: The price is unpredictable and the stocks...

Wall Street is offering to help get New York vaccinated and get life back to normal for workers in the Big Apple.Over the last 12 months of the Covid pandemic, the city has been brutalized by small business shutdowns, financial firms moving south, increasing homicides and the general ineptitude of Mayor Bill de Blasio. As we have noted here on Zero Hedge, the result has been barren streets and plunging rents. Now, financial firms - historically not known for helping anyone but themselves - are reaching out and doing what they can to help distribute the Covid-19 vaccine. They are...