"There appears to be a need of some bold man who will say outright what is best... opposing the mightiest lusts and following reason only."-Plato - Laws, VIII, 835-
Losses on short positions in U.S. firms top $70 billion - Ortex data.
While the big guys at wall street we pushing GAMESTOP and other companies down towards 0 many Redditors had other plans. While Wall Street Hedge Funds and banks where actively tanking the price of the stock many anonymous users decided to start buying this stock, and keep buying, and keep buying. The result was a massive rocket as price exploded towards 400$+ in a single day.
Sal Baldovinos made a facebook post explaining what was going on with GAMESTOP:
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For every $11.00 the price of GameStop shares go up, the banks lose about a billion dollars. 2008's housing market collapse only cost the banks around 50 billion.
$1000 GME/Funcoland is WORSE FOR THE BANKS THAN THE 2008 HOUSING MARKET CRASH. This is going to crash the entire financial system.
And it's not limited to GameStop, or AMC or BBRY. These funds make up a significant amount of trading volume on the NYSE, and the average hedge fund has $30-40 in debt for every $1 of actual money on their books.
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What does this mean? It means The collapse of central banks and a move towards a new monetary system. The fiat dollar scheme is collapsing in front of our eyes.
I hope you are not missing on the action. Make sure to investigate as much as you can and get ready, the next months are a time of GREAT AWAKENING towards the serious evil which has been living behind the curtains.
Chad trader from ClearThoughtCrypto