We’re not. Plain and simple. Anyone who frequents WSB knows this.
This means whatever media source is indicating this to be the case is a sellout and their credibility should be in serious question since they either
1) don’t do their due diligence, or
2) are okay with getting their strings pulled to be used as tools by the wealthy to manipulate masses.
If there was any doubt of these hedge fund’s influence and manipulate, this whole “WSB going silver” just put that conspiracy theory to rest and only does more to confirm that the game has always been rigged against the average person.
Edit: You know what would be AMAZING?? This was an idea already thrown out there, but if the mods could use twitter (and by pinning a statement on this subreddit) to invalidate the silver BS… That would be SUCH a great fucking move. Maybe a message like “There is no sentiment among WSB members to buy SLV stock and the little that exists is under scrutiny of WSB members”. That would just slam the door on any sources propagating that false information and call them out on their BS (because it’s just so obviously untrue). It would also make it clear for those checking the credibility of this fake news that the silver hype is a fabrication by variables outside of WSB and inform them of how convenient it is for hedge funds if people pulled from GME, and supported a stock they own massive shares of.
This goes without saying that I’m holding GME till the very end. Given how the media and some brokerages have gotten involved (and in a not so subtle way that benefits the hedge funds), it’s not even about the money anymore. And that’s coming from someone with student loans who stands to profit by exiting right now. Money comes and goes, but getting to witness firsthand just how rigged the system is and knowing who’s involved in keeping people in line is just something you can’t put a price tag on.
We will posit that: 1) the world is dividing into two blocs – the plutonomies, where economic growth is powered by and largely consumed by the wealthy few, and the rest. Plutonomies have occurred before in sixteenth century Spain, in seventeenth century Holland, the Gilded Age and the Roaring Twenties in the U.S. What are the common drivers of Plutonomy? Disruptive technology-driven productivity gains, creative financial innovation, capitalist-friendly cooperative governments, an international dimension of immigrants and overseas conquests invigorating wealth creation, the rule of law, and patenting inventions. Often these wealth waves involve great complexity, exploited best by the rich and educated of the time.
2) We project that the plutonomies (the U.S., UK, and Canada) will likely see even more income inequality, disproportionately feeding off a further rise in the profit share in their economies, capitalist-friendly governments, more technology-driven productivity, and globalization.
3) Most “Global Imbalances” (high current account deficits and low savings rates, high consumer debt levels in the Anglo-Saxon world, etc) that continue to (unprofitably) preoccupy the world’s intelligentsia look a lot less threatening when examined through the prism of plutonomy. The risk premium on equities that might derive from the dyspeptic “global imbalance” school is unwarranted – the earth is not going to be shaken off its axis, and sucked into the cosmos by these “imbalances”. The earth is being held up by the muscular arms of its entrepreneur-plutocrats, like it, or not.
Saagar Enjeti provides the latest updates on the Reddit versus Wall Street story.
Federal Reserve Chair Jerome Powell is grilled by Representative Katie Porter, a California Democrat, during his semi-annual congressional testimony Tuesday for his attendance at a party thrown by Amazon.com Inc. Chief Executive Officer Jeff Bezos last month.
Andrea Bernstein is a senior editor at WNYC and co-host of the “Trump, Inc.” podcast. A Peabody and duPont-Columbia award-winning journalist, Bernstein’s new work is an exposé on two families at the pinnacle of American power. American Oligarchs: The Kushners, the Trumps, and the Marriage of Money and Power, is Bernstein’s investigative journey into two emblematic American families—the Kushners and the Trumps.
Jared Kushner and Ivanka Trump enjoy limitless access to the Oval Office, but beyond their marriage, little about the families’ relationship is public knowledge. Throughout American Oligarchs, Bernstein reveals their campaign into the White House by tracing history stretching from the Gilded Age to WWII to the 21st century. Bernstein draws on private interviews, never-before-seen documents and forgotten files in order to expose the families’ accumulated wealth through real estate, manipulation and crime.
Bernstein’s American Oligarchs is a serious examination of the half-truths, secrecy and media manipulation weaponized by the Trumps and the Kushners. Join us as she discusses the Trumps, Kushners, and the marriage of money and power.