A raw expression of power from those at the top.
In a truly free market, truly democratic society, the rules apply to everyone.
And the rules aren’t just changed out of nowhere.
But as we have seen, we don’t have a real free market, and our society is becoming less and less democratic.
Consider that for years massive hedge funds have been glad to get rich off their bets that a company would lose value.
They profit from the financial decline of others.
And that’s a legitimate part of the system, as in a free society, in a free market, people should be allowed to make those bets.
But here’s the thing.
Being free to make those bets is also supposed to mean you are responsible for the consequences.
When the bet goes bad, and if you lose it all, that’s on you, not somebody else.
But that’s not how things went.
No, when a bunch of retail investors, spurred on by WallStreetBets decided to push back against hedge funds shorting stocks like GameStop, the elites went absolutely crazy.
How dare regular people interfere in the market!
Only the elites should be allowed to do that!
In a rapid twist, the same people who loved to profit from the financial collapse of others in the free market were begging for intervention.
All of a sudden, it was ‘unfair’ for them to go out of business.
Others should be able to lose everything, but not those hedge funds, right?
Robinhood, a trading app that built their entire brand on ‘democratizing finance’ and saying ‘Let the people trade,’ shut down trades of GameStop just as the hedge funds got most desperate.
“I love how @RobinhoodApp is like we’ll go back to normal tomorrow. What changed? Oh right? They crashed the market and let the hedge funds get out. Now suddenly there are no issues with it.”
I love how @RobinhoodApp is like we’ll go back to normal tomorrow. What changed? Oh right? They crashed the market and let the hedge funds get out. Now suddenly there are no issues with it.
— Dave Portnoy (@stoolpresidente) January 29, 2021
Robinhood – and some other trading apps – shut down the ability to buy new shares of GameStop – the exact trade that was crushing some hedge funds, while still allowing people to offload their shares. So, people could drive the price down, but not drive the price up.
The move was a blatant and coordinated effort by much of the financial infrastructure to simply stop regular people from making more money, in effect a de facto bailout of the hedge funds by giving them the chance to escape the true consequences of their ‘free market’ bets.
It also flew completely in the face of Robinhood’s entire brand:
Let the people trade.
— Robinhood (@RobinhoodApp) March 23, 2016
Yeah, unless they start hurting the big guys…
In my latest column for the National Citizens Coalition, I pointed out that the elites are lying to us, know that they are lying, know that we know they are lying, and keep lying anyway:
“What is true arrogance?
What is true power?
The ability to lie to someone’s face, know that you are lying, know that they know you are lying, and get away with it anyway.
Thus, after months of denouncing critics of The Great Reset as ‘conspiracy theorists,’ much of the media and political establishment expects people to simply ignore that an entire conference on The Great Reset is taking place as you read these words (and yes, the Trudeau Liberals are in attendance).”
As I point out in the article, every crisis ends up with regular people and small businesses being allowed to get crushed and wiped out, while the elites are exempted from damage.
It happened in 2008, with all the big banks even stronger than before while millions lost it all, it happened (and is still happening) to small businesses as they got wiped out in the Wuhan Virus crisis while big corporations were allowed to stay open, and it’s happening now as hedge funds are protected while regular investors get screwed over.
The game is rigged.
We know it.
The elites know it.
And the elites don’t care that we know it.
But that can’t go on forever.