:sicko-yes:
This could possibly bankrupt the financial system. There's no limit to the money they can lose here.
If the Fed starts printing money to hand to retail traders in exchange for GME, the USD is toast lol
Gamestop crashing the dollar would be the funniest thing in the universe. Impossible to top
Damn it, I thought I made an alt account with this username... maybe I did moderatetankie. Good minds think alike. Godspeed in your posting comrade
Like I feel the general dislike for this whole phenomena from most on this subreddit comes from not really getting the size of the opportunity here
Yeah, there's a lot of ignorance & hostility. I've been trying to explain the situation as much as possible with mixed reception.
The bourgeoisie could pull out more bullshit like today. But honestly, I just want to see them try to close this pandora's box.
It was $7b two days ago, and $14b today. $70b a shit ton. And it looks like their losses are growing exponentially.
There's no limit to the amount of money you can lose on a short position, so this could literally go to infinity.
Total.
$7 billion was lost between last week and two days ago.
Another $7b was lost by the middle of yesterday.
Another $56b was lost between then and now.
You just know they're terrified that the next round of stimulus checks are gonna go into GME.
I thought we were named after our predilection for fine French hats?
Spoken like somebody who has absolutely no idea what's happening right now.
You think the government is gonna just start being a neutral arbiter all of a sudden? Ha! They are playing with house money, their losses don't matter.
The government will absolutely not be a neutral arbiter. Again, you have no idea what you are talking about.
The options for federal government intervention are one of:
- The Fed opening a swap line to cover Hedge Fund losses, which will hyper-inflate the price of GME.
- The US government forcible seizing peoples' assets and handing them to Hedge Funds to cover short positions.
If you think either of these options can occur without extraordinary consequences for the financial system, you are deranged. US finance capital is already on thin fucking ice around the world between their use & abuse of the SWIFT system, and the dumping of USD into international markets. 2020 had the fastest rate of de-dollarization the world. The action necessary to cover this crisis will be the greatest accelerant so far to de-dollarization.
No investigation, no right to speak.
They can. If they do, their brokerage is liable for their debts, then their brokerage's bank, hen their brokerage's bank's bank, etc, etc. This might become the next housing crisis if it keeps bubbling up.
Although, the housing crisis involved collapsed housing prices due to subprime loans. This crisis involves GME stocks inflating due to extraordinary short options that have been put on the company. Unlike 2008, there is no limit on the losses that can occur here.
So ridiculous. It'll pretty much confirm my suspicion I've been in a coma since 2012 and all of it has been a weird dream since then. That, or my first DMT trip never actually ended.
Yeah everything has extraordinary consequences for the financial system, best case scenario they might throw a body out the door and then make whole whoever needs it, excluding retail investors.
I don't know you keep responding.
I'm talking about material reality. You keep responding as if they are going to cast a magical spell to make all this go away.
Because that's their function under capitalism, to preserve property relations through the market. Did you forget about that material reality?
Because that’s their function under capitalism, to preserve property relations through the market
If you are talking about the bourgeois class, not some magically they you making up, then this is a miscategorization. The bourgeoisie don't "preserve property relations through the market." They use the market to turn commodities into money, which gets reinvested into capital.
The bourgeoisie do not have magical control of the market. It is anarchistic in nature and sows the seeds of its own destruction, as we are seeing right now.
I'm done responding. You are horribly ignorant.
Did you SNIFF forget the material reality SNIFF of magic?! :frothingfash:
History books in 2060 talking about the great game-stop collapse of 2021
Yeah it's mostly speculative losses so far. The problem for these short sellers is that they have not begun to cover their positions yet. When they do, things will start to get even more jokerfied.
Closing old short positions and opening new short positions does not address the root of the problem. They are still on the hook for 140m shares, regardless of the position they are at.
There has been no effort thus far to cover their shorts . Unless an extraordinary panic sell starts happening by tomorrow, these Hedge Funds are just digging a deeper grave. Even then, covering 140m shares with 30m shares freely circulating will take a long time.
They're paying back 10x as much per share as they bought by having to buy at 300, while the fact remains that there's STILL more shorted stock than actual shares in circulation. They must be squeezed more
