Article: Here’s what to expect at the congressional hearings on GameStop and Robinhood

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Here’s what to expect at the congressional hearings on GameStop and Robinhood

Scum sucking sack of shit lawmakers will seek to make headlines, not legislation — and all the witnesses are probably RICO eligible!

Chris Matthews, MarketWatch, 16 February 2021

Executives at Robinhood, market maker Citadel Securities, hedge fund Melvin Capital, social media firm Reddit, and Keith Gill, an independent investor who found fame and riches with his early purchases of GameStop Inc. GME, -5.52% shares, will all testify at the hearing, scheduled for noon on Thursday. Here’s what to expect:

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Article: Exposing The Robinhood Scam: Here’s How Much Citadel Paid To Robinhood To Buy Your Orders

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Exposing The Robinhood Scam: Here’s How Much Citadel Paid To Robinhood To Buy Your Orders

Tyler Durden, Zero Hedge, 14 February 2021

Frankly, we’ve had it with the constant stream of lies from Robinhood and neverending bullshit from the company’s CEO, Vlad Tenev.

With Tenev scheduled to testify on Thursday, alongside the CEOs of Citadel, Melvin Capital and Reddit, the apriori mea culpas have started to emerge – if a little too late – the former HFT trader spoke late on Friday on the All-In Podcast hosted by Chamath Palihapitiya, who had strongly criticized Robinhood over the trading restrictions, and Jason Calacanis, a Robinhood investor, and said that “no doubt we could have communicated this a little bit better to customers.”

David K. Lifschultz: New Forms of [Wall Street] Treason?

Letter

Max Keiser does not really understand what the monetary expansion has to cover.

Central banks are transferring wealth from the average person to the likes of Bill Gates and Jeff Bezos – RT’s Keiser Report

You have according to the BIS 600 trillion in derivatives against a 81 trillion dollar world GDP or a multiple of 7. The BIS coordinates only the banks so this figure does not include insurance company derivatives or others in private industry unless a bank is connected to the transaction so it is grossly understated.  Some Swiss bankers tell me it is more like 1.2 quadrillion and others up to 2.5 quadrillion. 1.2 quadrillion gives you a multiple on the world GDP of 14 and 2.5 quadrillion a multiple of 30.

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Article: GameStop Isn’t a Popular Uprising

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Robert J. Shapiro | 21.02.03

The investors’ struggle over the video game retailer GameStop has been cast as a David versus Goliath story. Allegedly, this is the tale of scrappy, small online day traders buying shares of a beleaguered company to thwart a hedge fund scheme to take it down. Like GameStop’s stock, this narrative is mostly speculation because the facts about the buyers and sellers and their trades are hidden in the records of Robinhood, the new online trading platform, as well as Charles Schwab and other traditional broker-dealers. Only the SEC could demand to inspect those records.

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Article: In the ‘Reddit vs Wall Street’ Battle, Muddy Waters sees a Smokescreen of Internecine Warfare Between Hedge Funds

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SCMP | 21.02.02

“When we get tagged as establishment, you can’t be more inaccurate than that,” he said. “It’s almost funny if it weren’t for the fact that I now have all these people trying to troll me.” What Block agrees with is the growing sense that financial markets are overvalued and predominantly small investors will be hurt when the bubble finally bursts. He faults the Federal Reserve for pumping in too much liquidity, allowing for too much credit extension and too much leverage.

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Article: Short Squeeze Stockbrokers And Hedge Funds Face Proposed Antitrust Class Action

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Joseph Saveri Law Firm | 21.02.02

On January 28, many brokerages abruptly and unilaterally restricted retail investors’ ability to buy long positions—in some cases removing the option to buy shares of the relevant securities while openly permitting them to sell their existing shares or prohibiting users from viewing the tickers for some or all of the relevant securities.

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Hedge Funds are Getting Crushed by the Worst Short Squeeze in a Quarter Century

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Matt Egan | 21.02.02
A mob of traders on Reddit’s WallStreetBets page have sent GameStop (GME), AMC (AMC) and other stocks skyrocketing in recent days. GameStop lost a quarter of its value Monday but it’s still up nearly 1,200% on the year. WallStreetBets successfully triggered an epic short squeeze, where investors that bet against GameStop have been forced to unwind their bets and buy the stock back. That in turn has driven GameStop even higher, creating even more losses for short-sellers.

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