Manage episode 283531023 series 2855343
Thomas Talleyrand 0:03
Thomas Talleyrand. Welcome to the populist cast. And here we go, this is going to be a quick one. I'm going to finally get in and talk about this disaster of Robin Hood. And here's the reason it's a disaster. The Robin Hood traders.
Thomas Talleyrand 0:26
They purchased some stocks that another company had shorted, a bunch of other companies had shorted. I have 00 sympathy for any Wall Street firm, hedge fund manager, or executive or billionaire who does a naked short doesn't have his ass covered because he's too effing greedy. You are irresponsible, and you deserve to lose your money. Moral hazard has been thrown out the window. Thank you, George W. Bush, and Barack Hussein Obama, Barack. Obama and George Bush are totally to blame for our stock market being randomly it is now. And then the Democrats, the idiots that they are, they go and vote in Mr. frickin Wall Street, Mr. K Street, Mr. My hands out, put a stack of motherbleep money in it now. And I'll do what you say, Joe Biden. And that's the biggest thing that I'm mad about right now. It's looking at all of these tweets from these moronic. idiotic Democrats. Where's our $2,000? Where's our health care? I thought Joe Biden was gonna fix everything. Now he isn't gonna fix the fucking thing. Unless you're a freaking Insider unless you have a job on K Street. Unless you're a billionaire in China, the billionaires in China went to Wall Street and they recruited Joe Biden Iran because he's the most corrupt politician we've had in the last 50 years. 50 years this guy has had his hand out, he is demanded that he gets paid. And then if you pay him, he does what you pay him to do. Really, you either have to be extremely naive or extremely ignorant, in order to thought that Joe Biden was going to come in here and fight for the little guy when you vote for a corporatist that's an insider with a long history of corruption, the man that transferred the risk of moral hazard from the credit card companies onto the blue-collar worker when he rewrote the bankruptcy bill. Back in the 2000s. under Bush, tried he ganged up with bush and Schumer and they rewrote the credit card, the bankruptcy bill so that if you make any amount of money whatsoever, you can't discharge credit cards, under Chapter Seven, for those of you who don't know, moral hazard in the stock market is that you can lose your business. If you bet the wrong way. However, we removed that and 2008. And really, we transferred that from the banks to the American taxpayer, both with the aforesaid credit card, bankruptcy changes, the bankruptcy law changes, but also with the 2008 bailout. It was started by President Bush and finished off by Obama, but it was Clinton Central, insider deep state politics where the big guy doesn't have to take a bath in the little guy does. They did that under the guise that well, if we let all these foreclosures go through, and we let all these banks lose all of this money, they'll all go out of business and we'll go into a depression. Instead, what we had was essentially a prolonged malaise or a prolonged situation with no growth until Trump came in and started playing some things. This is why I am so frustrated with the people who fell for orange man bad. Who cares what the guy says, Who cares what his status is? Who cares how great he sounds? Or how articulate he is. it's not style over substance. you're hiring the guy for a job, you're not trying to date him. You're not trying to set him up with your daughter. You're not setting him up with your son. You're not even gonna let him pet your dog. All you wanting to do is run the country yet. Hey, orange, man bad. I mean, there's that one time he said that thing about Charlotte. You know, he dared say that the left-wing people were as bad as the right-wing people when we all know damn good and well the crazies in anTifa about his racist visit crazies in the Ku Klux Klan, and many ways they're the exact same organization. They are used by the democrats to depress vote or to increase But where they see fit. That's what they did with the clan. That's what they're doing with Antifa. The stuff is getting old. Here's a text from Dave Portnoy. The thing that drives me and so many people nuts is Lovelace that when did this is over guys like Ken Griffin from Citadel, Gabriel Plotkin from Melvin Steve Cohen and Vlad will be at some secret Country Club laughing at all of us. And deep down we know we arrived. Lauren Bobert plates. first big tech-centered conservatives. Now it appears big tech is colluding with Wall Street to bail out hedge funds. After private investors beat them at their own game. Congress should subpoena Robin Hood and anyone involved with the GameStop halt and make them explain themselves. Here's the thing, but Congress centering or subpoenaing anybody, Congress does not have the ability to do a criminal investigation, they damn sure don't have the ability to do any kind of deep meaningful investigation without a dominant party involved being mad about it. And the problem is that there's plenty of Republicans that are right there with the democrats that are really happy that the hedge funds were able to get bailed out by Robin Hood, simply pausing trading, Robin Hood used the excuse of margin calls, they knew the margin calls were coming, though, then they closed out their customer's positions at the absolute lowest point in the market. And anyone with the brain can tell that what they what Robinhood did was at the very best short-sighted and what actually looks like market manipulation to anyone who just looks at the backs as you can read them in public.
Thomas Talleyrand 6:48
Okay, so the company that is an institutional investor in Robin Hood, to try to explain this to you purchased one of the hedge fund organizations that was most exposed by the GameStop short squeeze. When they did that, they had a conflict of interest that Robin Hood should have immediately explained to its investors and invested itself of any decision making authority on when to stop sales and when to call for cash. However, it appears that there was probably a cash call for Robin Hood because they would have had to cover the investments that they're in, excuse me that their customers had made to purchase stock. Many customers in a customer who purchase any stock on margin or borrows money to purchase that stock can have their position closed out under certain circumstances. That's in the user agreement that Terms of Service, I believe Twitter calls it the reason is that they want to make sure that everybody has enough liquidity to pay for everything that's out, this is the same thing costing the shorters to have to sell. So it worked in the reverse on people who were long when you're long and you're borrowing money to be long. You got to get out while the getting's good, then you got to go back in with your cash is something that just your average investor may not realize. But if you're going to go long, and they are you're going to buy something and hold it even for a little while and do it on margin, where you're borrowing the money to purchase those stocks with you can do so. But if the value of those stocks gets up to a certain amount, at some point in time, you got to pay those off. So what Mark what happened was when the hedge funds came in and started selling, it can also happen at the value drops. When the hedge funds came in and started buying and selling and crashing the market. Robin Hood had to stop pause the market. This is what they're gonna say I think they did this more in collusion than they did in separate siloed memory hills or siloed data points. But the way that it looks is that what Robin Hood decided to do was crashed the market by dumping a bunch of stock so that their hedge fund Big Daddy owner could actually recoup as much of its losses. I believe they ended up saving about 50 to 60 billion 50 billion. That's what they be and I'm waiting to be able to sell once that Robin Hood put the paws on and that way they were able to Come out, smelling like a rose. Basically, if you call not losing 19 to $20 billion, smelling like a rose, it's probably the difference between staying in business. And being out of business. However, you got to realize that when you're doing this, what's good for the goose is good for the gander. So once again, going back, if you borrow money to buy a stock, and it goes from $20, up to $400, at some point in time, you've got to take your profits if you want to buy back in, you can, if you see what I'm saying, you're gonna make your money, take your profits, pay off your loan, and then all the money is yours, and nobody can mess with it. It's a risk management procedure that a little guy investor has to do. And it's something that the big guy investors should have done. So I have no sympathy for any billionaire, I don't really care that they're billionaires. If you can make yourself a billionaire by playing the game, I'm all good. But you got to play the game. You can't change the rules as you go. And that's what they're planning on doing. Which brings me to my next set of tweets. This is former, I think, sec chair, Laura Unger,
Unknown Speaker 11:14
it really puts a lot of question about the integrity of the market, right? And it really kind of everybody's scratching their heads over this. What what should happen, what what is the right thing to do to control this or stop this? Not unlike what we saw on January 6 at the Capitol, right? If you don't have the police in there at the right time, things go a little crazy. And that's kind of feels like what's happening with this much different, much lesser degree, it's financial harm, not personal bodily harm. But But certainly, that's the same kind of, you know, platform created frenzy, that that people are operating under. And these are, these are very trying times.
Thomas Talleyrand 11:54
This one wants to police and force, just regular trading, there's nothing that I can see that these people on Reddit did wrong, other than they pumped up stock, pumping up the stock, because you believe in the stock is not illegal, we have the First Amendment pumping up the stock, even to harm someone else. If it's not to then destroy the value of the stock is not illegal, just like when short traders come out and bash GameStop, which they've been doing for months now. They picked on GameStop. And the reason that GameStop became a cause celeb for the redditors is because GameStop is a company that they love, and they hate that the shops that they are used to going to or shutting down to where they have to do business online. And they certainly don't want to do business online with Amazon. And what's the Joe Biden administration's response to this when asked? Well, Jim Misaki, the worst press secretary, and I don't know how long maybe ever had this to say.
Unknown Speaker 13:06
One more question. Apologies if you answered this, in response to Steve's question, but I just want to be clear here is do you anticipate President Biden to address the GameStop controversy when he meets with his economic team a little bit later this morning? No.
Unknown Speaker 13:21
Do you anticipate him addressing it publicly?
Unknown Speaker 13:23
me talking about it with his economic team? Well,
Unknown Speaker 13:27
the focus of the meeting is about the recovery plan about the status of the economic recovery that obviously the data that we saw yesterday, I'm sure they'll cover a range of topics during that meeting. But that's not the focus, right. I know it's a big story. But doesn't that you know, obviously, that our focus and our big story is getting the American people back to work. And
Thomas Talleyrand 13:47
as I said, Joe Biden to America wants him to get up You're no one cares. At least not up there. All they care about taking care of their hedge fund managers getting the SEC to go after the Robin Hood investors. They think that this must be somehow illegal. And now the liberals and the Robin Hood investors, there's the libertarians, and those that thought that Trump is just too icky, have had their Discord server cut off. They've been discriminated against. They've been cheated out of multimillion dollars, at least in their eyes, and they've already filed a class action lawsuit against Robin Hood. Personally, I don't see that Robin Hood survives this fiasco. But somebody will probably try to prop them up. They'll throw out the two guys that founded it because they're too stupid to see thunder in here. Like I have a lot more to add. I want to talk about all the liberal tears and some other stuff. But we'll get into that in another podcast. I want to wrap this up at 15 minutes. Thank you very much. I want to explain what I mean by wear a mask. The government has no Authorities tell you to wear a mask in my opinion, especially since they cannot show that they are effective. Scientifically. There's no study showing mask work. Anyway, take care. God bless you. Have a good weekend. I'm probably gonna put out two or three more podcasts over the weekend. Thanks