Name: The Gamestop Stock Situation
Uploaded: 2021-01-29T18:29:32.000Z
Description: Watch the stand-up comedy video 'The Gamestop Stock Situation' from PowerfulJRE on Comedy Buff. Published 2021-01-29. Transcript available.

Watch the stand-up comedy video 'The Gamestop Stock Situation' from PowerfulJRE on Comedy Buff. Published 2021-01-29. Transcript available.

the Joe Rogan experience anyone defending institutional Wall Street right now
got an
envelope with photos of themselves at Jeffrey Epstein's birthday so what's what
Jamie's just
pulled up with that and what Tim was talking about is this insane situation
that's happening
it started out with GameStop on with with these these intelligent vipers from
Reddit decided they
were going to figure out well what they here's the thing Wall Street
speculation and these people
that have been these hedge fund guys they've been manipulating the stock market
in a very similar
way forever yeah but these guys on Reddit decided to get together collectively
and what is it called
the the subreddit called Wall Street Bets so Wall Street Bets decided that
these hedge funds were
shorting GameStop right so they decided we're gonna buy GameStop we're gonna
fuck their whole system up
just to boost GameStop yeah well just to see if they could and just the it's
fun it's fun so a bunch of
people bought GameStop stock GameStop stock rose higher than it's ever risen in
the entire history of the
company i think it was up 11 000 is that the case uh the actual percentage yeah
i don't know
i might have made that number up sounded good though didn't it yeah i mean yeah
it had never
been higher than 50 60 bucks and it shot up to three to four hundred dollars at
some point
yesterday which is crazy a little bit which is which it's great that's a crazy
jump for no reason
and it was all because of these guys so this is where it gets complicated
because now regulars
do me a favor and go to sager uh his uh instagram page because he gave me
permission to play this
today because he he talks about how this is really exposing the actual
corruption in the stock market
and real market manipulation because they're trying to do something about the
fact that these
wall street guys are getting fucked over and like hedge funds have lost
billions of dollars because
and so but the thing is that now that these guys yeah let's play it let's play
it real quick this
is the one you sent me yesterday right no um yes the one from today um let me
um i'll send regulate and
uh perhaps let's see all right sager what's on your radar well i have a
confession to make this is the first
story that's excited me in a long time covering the pandemic and trump and stop
the steal and capital
riots and the biden presidency it's been a real bummer and i have not felt a pep
in my step like this in
many months and it is now thanks to a bunch of redditors going after the people
i despise the most in our society
speculators on wall street by now i'm sure that you're all familiar with the
story hedge funds and
billionaires took out a massive short position on the company called game stock
a band of redditors
on a subreddit called wall street bets called their bluff drove the stock up to
the tune of thousands
of percentile more to force those hedge funds to liquidate billions of dollars
in losses while the
merry band of redditors gets rich it's the ultimate david and goliath story underemployed
and unemployed
sitting at home in their pajamas using the power of the internet and new
trading platforms like robin
hood to destroy the kings of american finance we are never going to go back to
the old ways of doing
business and wall street knows this so what's their solution it's one that we
my friends must resist
absolutely at all costs now they know that they do not have a monopoly on
manipulating the market
they are going to do everything in their power to go after you and people like
me who are not on the
side of the billionaire elite as i laid out yesterday they are already going
into overdrive on cnbc who
started off yesterday by inviting the literal ceo of the nasdaq on to call for
more regulation let's take a
listen to that again one of the things that we're talking about is maybe
misinformation and and uh
pump and dumps and it's occurring on social media again it just i'm wondering
whether it's part of the
same problem the type of regulation that that uh that we finally need to uh to
consider and like i said
we should always have a light touch with regulation but you're you're seeing
the way things can get
started again this is different maybe it's reddit maybe it's not facebook but
you're seeing the the the
the same situation at this point it's not about an election it's not about a
well he's also pause for a
second pause for a second he's also calling for regulation yes they never call
for regulation never
he's super assholes like him the last thing that guy wants yeah with in terms
of like being able to
manipulate the market and make as much money as possible is fucking regulation
yeah so he's calling for
regulation is kind of hilarious and him saying that they're manipulating it
with social media like
this is literally what they do yep it's what they do you know keep going
there are interesting things happening that that seem to be spawned to some
extent or at least
at least blown out of proportion by social media again adina well i i do think
though that as we look
at these new technologies that are there available to everyone including
investors i i think it's also
important for regulators to understand that you know manipulation is
manipulation whether it's happening
through a new technology medium or it's happening through traditional male i
think it's just a matter
of making sure that we understand what the behavior is what's underpinning the
behavior and working
appropriately with the regulators to to uh to manage the situation she looks
like a female version of the
blind scientist from contact with jody foster tell me she doesn't pull up an
image of that guy
all these people on the on the on this clip have issues he has richard ramirez
teeth it's a nightmare
contact contact with jody foster go to images that the guy in the far right
yeah oh a little bit
come on give me that picture yeah i'll give you that come on right there yeah
go back to her no they
look pretty fucking similar yeah get called up good reference
almost identical that's so crazy it's the cheekbones in the mouth are you sure
that's not him or her i don't mean to dead name or misgender
okay keep playing it working appropriately with the regulators to to uh to
manage the situation
yeah you heard that correctly the guy from cnbc who hates regulation is now
calling for more regulation
and the ceo of the head of one of the largest trading exchanges in the world is
agreeing with him
notice when hedge funds manipulate markets when they screw over regular people
in different companies
when wall street requires billions of dollars in bailouts and floats from the
federal reserve there isn't
any call for more regulation but a couple of average joes on the internet make
money at the expense
of a billionaire hedge fund well that just can't stand and i'm not exaggerating
here just showing you one clip
the idea across the american elite right now is that what has happened with gamestop
is unacceptable
don't believe me check this out as gamestop and other stocks soared arthur levitt
jr he decided to weigh in
and if you don't know who that is it's the former sec chairman who literally
presided over the dot-com bubble
and was appointed by bill clinton who perhaps more than any president is
responsible for much of the
financialization of our economy beginning in his administration levitt wrote an
op-ed in bloomberg
calling for a full agency investigation into online stock trading platforms and
said that social media
is taking advantage of users behavioral psychology and pushing them into
dangerous territory okay maybe i don't even really disagree with that but doesn't
it just tell you everything that this is what they want to investigate now that
this is what they want the government to do something about now
don't underestimate how mainstream this view is yesterday the white house press
secretary said janet yellen is quote monitoring the situation elizabeth warren
tweeted out that we need more regulation the state securities regulator for the
state of massachusetts said gamestop trading should be halted for 30 days and
the sec now says they're working with regulators to assess the situation review
the activities and other participants like i said hey maybe that's just what
they want to do for the state of massachusetts and the SEC now says they're
working with regulators to assess the situation review the activities and other
participants
like i said hey maybe that's justified but you people are silent on the crimes
of the actually influential people who rig our economy on a daily basis
you want a near perfect corollary billionaire investor bill ackman he went on cnbc
in march 2020 to give an emotional interview to say hell is coming and that
hotel stocks would go to zero his
interview sparked a panicked sell on wall street it is seen in retrospect as
one of the precipitating events of that drop guess what at the exact same time
right after that interview ackman was buying billions of dollars in the stock
as a
it hit rock bottom in fact he pocketed two billion dollars in bets against the
market as it was crashing okay let's pause it was a crap billionaires gonna
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