Gamestonks Takeaways

Message for Congressmen:
When Congress inevitably takes action in response to the Gamestonks event, You are going to side with Main St over Wall St. This is NOT market manipulation, this is a peaceful protest. They are protesting the corrupt financial institutions that caused the ‘08 crisis that was never held accountable. They are protesting the idea of short selling. The financial oligarchies routinely do the exact same thing by having their buddies in the media oligarchies publish stories to manipulate the market so that they can swoop in and buy up a bunch of cheap stocks. One hand washes the other. As George Carlin said, “it’s a big club and you’re not in it.” Well, you are because you’re a US Congressman but I’m not and YOU WORK FOR ME.Show more

Reign in their anti-competitive practices such as Robinhood forcing their users to sell their stocks and Google deleting negative reviews from it. Review the existing anti-trust legislation, hold Congressional hearings on the issue, and if there are any holes then fill them. Make Theodore Roosevelt proud.

Enforce free speech onto publishers masquerading as platforms like Discord that banned the r/WallStBets Discord for “hate speech.” They did not do that, they banned it because it was a threat to the corporatist system and you know it. This suppression of peaceful and legal political action by the people by private corporations must not be allowed to happen again. Platforms should not be able to suppress political behavior such as this.

Finally, do NOT bail out these hedge funds. They took a risk, they reap the rewards both good and bad. Bailing them out would cause far more harm long term than the short term damage of them going under would cause. The backlash would be too great.

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