Sean Davis, that is. This six tweet thread says it all about GameStop and what the Big Picture meaning of it all is:
Wall Street’s war on reddit and Robinhood isn’t about free markets or price transparency or longs vs. shorts or anything like that.
Wall Street institutions have crushed retail shorts with impunity for decades, even and especially when the shorts were right. (1/x)
What’s happening right now is Wall Street realizing that retail investors, whom Wall Street mocks as nothing more than dumb commission factories for big brokerages, actually have some power that Wall Street believes it has a divine right to wield. That cannot be allowed. (2/x)
The war on reddit and Robinhood is about putting retail investors in their place. Retail investors are not allowed to move markets. Only Wall Street institutions move markets. Retailers are not allowed to squeeze shorts. Only Wall Streeters are allowed to crush shorts. (3/x)
Wall Street, you see, is allowed to make money no matter what. That was the lesson of 2008. Who cares that it’s Wall Street who destroyed the housing market/economy by lying about the risk of their garbage mortgage derivatives? They were entitled to bailouts. (4/x)
Sure, millions lost their jobs and countless people lost their homes. The bankers got paid--with your money. They got bailed out--with your money. Sure, you lost your savings and home. But that’s what you get for being a dumb rube instead of a New York City banker. (5/x)
So don’t get conned by those claiming hedge funds are just trying to protect the markets and price transparency and efficiency and blah blah blah. This is a war between corrupt institutions and normal people, and the institutions simply will not allow the normals to win. (6/6)
Which is why the proposed security around the enablers of the corrupt institutions--in the People's House. And the National Guard transformed into the Army of the Potomac--the Imperial Guard for the Imperial City. Haha! Joke's on you! "People's House"? Guard for the Nation? Not your house, not your nation. At least that's what we're being told.
But what kind of con are they trying out on us? You're not gonna believe this. I mean, you will but you won't:
So I see the Ruling Class has moved to the “Redditors are domestic terrorists” phase https://t.co/qsDSWX0DnJ— Benjamin Weingarten (@bhweingarten) January 29, 2021
Pretty soon they'll have to fence in Wall St., where our masters make their money, and have the "National" Guard patrolling the Financial District.