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Redditors Proved That The Stock Market Is A Joke And Wealth Is Imaginary - YouTube
Channel: Farron Balanced
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One of the most interesting things that we
have seen happen in this country at a very
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long time happened this week.
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When folks from Reddit got together, saw that
game stock, uh, game stop stock, excuse me,
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game stop stock was being shorted by investors.
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Now I don't want to bore you with all the
intricate details.
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It's very hard to understand exactly what
all that means, but to put it this way, um,
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investors were shorting the stock that they,
uh, had been lent.
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And then once the stock price goes down, down,
down, down, down, then they all scoop it up.
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They make a big profit off it.
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When they sell it afterwards, they artificially
drive prices higher or lower to benefit themselves.
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It's a casino, they're gambling, and they
all get together and they all do this with
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their little hedge funds.
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And then Redditers said, Hey, if we've each
got a little bit of money sitting around,
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why don't we do this and save game, stop and
force these people basically to go out of
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business.
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And they did.
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They caused billionaire investors to lose,
lose billions of dollars.
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Hedge might actually be going out of business
because of what they did.
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It was phenomenal.
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It was remarkable.
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So what they did is they came and they bought
up all the cheap GameStop stock, uh, before
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the shorters could come back and buy it, drove
the price up well, over $600 a share.
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And then they attempted to do it with other
stocks, uh, AMC and a couple others.
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But the GameStop one is really the one that
kind of sealed the deal.
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So again, it proved that wall street, the
stock market is nothing but a casino for rich
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people, and they don't want us playing their
game, but Reddit, uh, Redditers got together
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and he said, you know, we're going to play
the game and we're going to play it by the
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same rules you do.
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And then the second thing they proved with
all this by actually bankrupting, these hedge
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funds is that all this wealth was imaginary
to begin with.
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It didn't actually exist.
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You know, when we think of wealth, we think
of people in mansions, people, driving Maseratis
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people with billions of dollars sitting in
a bank account.
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But apparently for a lot of wealthy people,
that's not what it is.
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It's money that doesn't even really exist,
tied up in a stock market.
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That's also a completely made up thing and
they sell things and buy things without ever
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actually exchanging any money.
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And the things that they're buying and selling
aren't even tangibles.
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It's all a Mirage it's fake.
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And it was exposed this week by a bunch of
people from Reddit.
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That's remarkable.
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Now the sad part of the story is that obviously
regulators are.
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You know, you can do pretty much anything
in this country you want, except for cause
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rich people to lose money.
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If you do that by God, they are going to come
after you.
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And they did think of Bernie Madoff, right?
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Bernie Madoff was doing his little, a Ponzi
scheme at the same time that other big banks
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were over consumers committing all these crimes.
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None of them went to jail, but Bernie Madoff,
who was taking money from rich people did
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go to
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Jail.
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And
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Every time rich people lose money, new regulations
come in to make sure that doesn't happen again.
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So yes, uh, the Robin hood stock trading app,
uh, gets like shut down for a while.
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There's new rules saying, well, you can't
do GameStop anymore.
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We're not allowing to trade trading of that
or, or AMC.
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They're now trying to come up with actual
congressional regulations.
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You know, they're begging Congress step in
and do something.
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They're also begging Congress step in bail
us out because none of it was real.
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None of their wealth actually existed.
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That is what the stock market is.
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It, it is no longer a method for companies
to raise capital, to reinvest in themselves
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and grow.
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That's not what the stock market is.
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That's what it was supposed to be.
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But it's not what it is.
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It's a giant casino meant only for rich people.
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And it got exposed this week because non rich
people finally decided we're coming into your
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casino and we're going to do the same thing
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You do.
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