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.
Citigroup’s “Plutonomy Memo” (2005)
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.
An update from Citron Research
Saagar Enjeti: Wall Street Elites REGULATE, DEPLATFORM Redditors Who BEAT THEM On GameStop
Watch Fed Chair Powell Get Asked About Why He Went to a Jeff Bezos Party
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.