Economy stonks v14, brokergate

[TeTe]

That has been in the works for about 2 months publicly.

Looks like it's sketchy at best. Can't transfer the crypto to an outside account and basically Paypal can lock your account whenever they feel like it.

 

[brackis1]

I use TD Ameritrade and I had limits on what options I could buy and sell. Other brokers wouldn't even allow buying of the stock itself or limited it to a few shares.

Let's be honest. They all got caught with their pants down. They are saving themselves from insolvency. They allowed a situation with infinite downside and with the potential for never being able to close said position by allowing more than 100% short. They were making money hand over fist and when it turned they shut the markets down.

TD Ameritrade isn't short GME.
When you have shitloads of people buying out of the money options on the stock it would create an insane scenario where they'd have to buy the underlying stock too in many cases and they have the right to not do that. Just like any casino has a maximum bet on any single table game and they can change it whenever they please.

Fidelity Blackrock Vanguard are making shitloads of money selling the 30%+ of GME they own.

Were lenders who didn't participate in making shitty2008 home loans tp retards saving just themselves? No, they're protecting their customer too who would never be able to pay.

 

[rob mafia]

I've had Fidelity for a very long time which is what I used. Sell of Amazon and buy of GME was instant. This was posted on wallstreetbets today. Just sharing info for those that have that have been beaten down by those elitist hedge fund fucks at Robinhood. They also say in wallstreetbets to TRANSFER your funds from Robinhood to Fidelity and NOT SELL them out of Robinhood. Selling is what they want us to do. One poster said it did say it would take until Feb. 6th to transfer from RH to Fidelity. Is it a rumor that RH will be down on Monday for "maintenance?" That RH CEO is a fucking bastard to us regular folk.

THIS IS A REPOST Credit: u/StocksAndSports

Lets get this shit out of the way right now. The reality of the situation is Robinhood does NOT have the liquidity or capital to support buys any further due to their clearing house being in house and run by baling wire and dreams. Their owners have a vested interest in ensuring they don't make the collateral demanded by the DTC to move the cash required.

So here's the fucking rub. There are two CONFIRMED brokers that will do anything in their fucking power to ensure we trade as much as we fucking want. They are...

Fidelity and Vanguard. You want to know why? They both own millions of shares in GME, do you think they won't do whatever they absolutely can to ensure collateral is covered on GME? They are profiting hardcore off of this. We NEED to be throwing their weight behind them, they are the ONLY future we have if we need to be backing this stock as retail.

This weekend, we need to push harder than we ever have before to educate people on this reality. Robinhood is bush league shit for processing this kind of demand, and it's time we take it to the big boys like Fidelity and Vanguard to handle the rest of this.

TLDR: Robinhood CANNOT SUPPORT OUR VOLUME. The ONLY brokers right now are Vanguard and Fidelity because they OWN GME SHARES. This is PERFECT for us. Their clearing houses will flip fucking gravity to keep us trading. PUSH ON.

Take this opportunity by the balls and never let go.

USE YOUR

you're proving my point(s) with this crap:

lolz @ vanguard being 'on the side of the people vs the billionaires' vanguard IS the billionaires.

and you're parroting this (as in, blindly copypasta) without knowing anything about it.

the only part that's probably on-point is (if one wants to move from rh) to do an ACATS vs selling, moving funds, and repurchasing - and even this isn't concrete. even selling/rebuying can be in many's best interest. the biggest issues tend to be from tax standpoints, which are probably moot to everyone who's not deepfuckingvalue.



edit: oh, ffs. the very next post was...

I'm just down for the movement. Fuck those rich fucks that try to keep us down.

...so fuck vanguard, then? who you JUST promoted, literally seconds before saying this dumb shit?

 

[Officer Rick]

you're proving my point(s) with this crap:

lolz @ vanguard being 'on the side of the people vs the billionaires' vanguard IS the billionaires.

and you're parroting this (as in, blindly copypasta) without knowing anything about it.

the only part that's probably on-point is (if one wants to move from rh) to do an ACATS vs selling, moving funds, and repurchasing - and even this isn't concrete. even selling/rebuying can be in many's best interest. the biggest issues tend to be from tax standpoints, which are probably moot to everyone who's not deepfuckingvalue.



edit: oh, ffs. the very next post was...



...so fuck vanguard, then? who you JUST promoted, literally seconds before saying this dumb shit?

So i am new(ish) to stocks etc.. i have about 20 shares of gamestop i got in around 40 and bought some more at 70.... whats the optimal endgame for the stock??
are we holding for like 1000 a share or do you think we can hold this till like 5k a share?

 

[rob mafia]

How long do you think they can keep this up Rob?

dunno. this is kind of unprecedented, so perhaps a while longer. as long as they can...

What do you believe the end goal is?

profit for themselves and the most insane loss porn ever posted. ie: $ and entertainment.

You make WSB sound like a bunch novice investors hopped up on speed and Mountain Dew that somehow were cleared for $10k on margin.

wsb hates investing/investors. 'gtfo back to r/investing' is something we've said a gazillion times.

wsb was basically a mix of experienced traders and retards. honestly, it's kind of just in the name... wall street BETS. it's about options trades, and generally risky as hell ones. ie: bets. otherwise, they're just... basic trades.

but it was basically all fun&games. sometimes we'd just do something stupid (risky bet) to break up the monotony. sometimes, the people were actually just stupid. sometimes, we just found exploits (typically in rh) and exploited them for absolutely retarded amounts of leverage.

phrases like "personal risk tolerance" (pure risk), "literally can't go tits up," "FDs" (i can't even state what this means on here), etc made up the foundation of wsb culture/lexicon.

(this was repeated a few times until rh [and some other brokers] disabled box spreads)

https://www.marketwatch.com/story/t...sk-then-promptly-loses-almost-2000-2019-01-22



(jamie [casually explained] is/was one of us)

(this was real, btw)

 

[Pride23]

TD Ameritrade isn't short GME.
When you have shitloads of people buying out of the money options on the stock it would create an insane scenario where they'd have to buy the underlying stock too in many cases and they have the right to not do that. Just like any casino has a maximum bet on any single table game and they can change it whenever they please.

Fidelity Blackrock Vanguard are making shitloads of money selling the 30%+ of GME they own.

Were lenders who didn't participate in making shitty2008 home loans tp retards saving just themselves? No, they're protecting their customer too who would never be able to pay.

They are protecting themselves, that is exactly what I said. Brokerages allowed a company to be shorted over 100%, it was public knowledge how short it was. It was allowed to be heavily shorted for years and now that its turned and they are exposed to potential losses they turned the trade off.

 

[rob mafia]

They are protecting themselves, that is exactly what I said. Brokerages allowed a company to be shorted over 100%, it was public knowledge how short it was. It was allowed to be heavily shorted for years and now that its turned and they are exposed to potential losses they turned the trade off.

dude. that's not really what happened or how it works.

brokers are being squeezed by their clearing houses/dtcc, via increased collateral required via the increased volatility.


edit: to be more clear, if a shortseller goes bust, the broker is basically on the hook for the short's losses (assuming the account goes to/below 0). but robinhood doesn't even allow shortselling. rh is the broker most affected by the increase in collateral...

 

[Pride23]

dude. that's not really what happened or how it works.

brokers are being squeezed by their clearing houses/dtcc, via increased collateral required via the increased volatility.


edit: to be more clear, if a shortseller goes bust, the broker is basically on the hook for the short's losses (assuming the account goes to/below 0). but robinhood doesn't even allow shortselling. rh is the broker most affected by the increase in collateral...

Common, really. The Clearing houses for some of these brokerages literally are under a parent company which funded the short side. They are all protecting themselves. They allowed for the stock to be heavily shorted and made money off of it until the trade turned on them and they cut it off. That is what happened. Heavy volatility and capital requirements are a convenient lie. That's how they get the brokerages to stop taking the trade without telling them directly.

 

[rob mafia]

Common, really. The Clearing houses for some of these brokerages literally are under a parent company which funded the short side. They are all protecting themselves. They allowed for the stock to be heavily shorted and made money off of it until the trade turned on them and they cut it off. That is what happened. Heavy volatility and capital requirements are a convenient lie. That's how they get the brokerages to stop taking the trade without telling them directly.

 

[Fluffernutter]

One thing GameStopGate has done is for my kid is gotten him interested in learning about investing.

Hopefully, schools will start teaching economics, financial foundations, or taxes 101. I heard they used to teach something about personal finance back in the 60s to 12th graders.

 

[CatchnShoot]

dude. that's not really what happened or how it works.

brokers are being squeezed by their clearing houses/dtcc, via increased collateral required via the increased volatility.


edit: to be more clear, if a shortseller goes bust, the broker is basically on the hook for the short's losses (assuming the account goes to/below 0). but robinhood doesn't even allow shortselling. rh is the broker most affected by the increase in collateral...

Hey, thanks for being a voice of reason.

 

[Grassshoppa]

lol "FUCK THE MAN BY BUYING ALL THE SHARES THAT FIDELITY AND VANGUARD WILL HAPPILY SELL YOU FROM THEIR RESERVES AT RETARDED HIGH PRICES!!!!"

Weren't you a bitcoin skeptic like a week ago? Christ.

I was and still am. Therefore, I have not yet decided if I am a hypocrite.

 

[Grassshoppa]

you're proving my point(s) with this crap:

lolz @ vanguard being 'on the side of the people vs the billionaires' vanguard IS the billionaires.

and you're parroting this (as in, blindly copypasta) without knowing anything about it.

the only part that's probably on-point is (if one wants to move from rh) to do an ACATS vs selling, moving funds, and repurchasing - and even this isn't concrete. even selling/rebuying can be in many's best interest. the biggest issues tend to be from tax standpoints, which are probably moot to everyone who's not deepfuckingvalue.



edit: oh, ffs. the very next post was...



...so fuck vanguard, then? who you JUST promoted, literally seconds before saying this dumb shit?

I'm too simpleton to understand your logic. Robinhood prevents its users from buying GME = bad. Fidelity and Vanguard allow people to buy GME = good.

 

[rob mafia]

I'm too simpleton to understand your logic. Robinhood prevents its users from buying GME = bad. Fidelity and Vanguard allow people to buy GME = good.

robinhood, tda, etrade, webull (briefly), ibkr... likely others, too.

shit, fidelity was preventing everyone from all trades for a while on wednesday (outage).

vanguard is basically the yuppiest broker/fund/etc of all. lolz @ even arguing that vanguard is the champion of the retail traders/poors vs the billionaires.

https://en.wikipedia.org/wiki/The_Vanguard_Group

the biggest irony is that the reason they didn't restrict is because their users had the smallest percentages of gme/amc/etc vs other brokers.

 

[Grassshoppa]

Fun Q&A posts on wallstreetbets:

Is over 100% of their stock still shorted? When do those come due? Are they in the form of put options expiring soon?

No, they are short actual shares, so the debt never expires and they are paying interest on it. The higher GME goes the more interest they pay. The only way out is for them to buy, which is why the short squeeze is inevitable if we refuse to sell. They are still 120%+ shorted.

Boys I'm currently $4k in at 250 and have another 10k on standby (most likely buying dips on Monday). What I'm not understanding is... how is this not a guarantee W for the autistic primate astronauts...? They've shorted > 100%, doesn't that mean that the hedges have to buy EVERY SINGLE share back??

The answer to your question is yes.

THIS IS A REVOLUTION. For decades wall street has profited off our backs, manipulated markets, crashed our economy, and laughed the whole way through. For the first time, we've collectively agreed its time to end this trend and expose these frauds for the scum they are. We are a decentralized force hell bent on putting the power into our own hands. Ironically, robinhood has been stealing from us and giving to the rich. We've been stuck with crummy stimulus checks while big money gets all the bailouts and billions, when the fact of the matter is that we are busting our asses just trying to survive.

We are in an unprecedented movement that is actively fucking these turds in the ass, and they're crying themselves to sleep just like we have for years. This is about more than greed and personal gain, this is about equality for all and punishment for the ones taking advantage of us. Our movement transcends the singular person, we are a force that cannot be stopped. I've never been prouder of us retards. This is for all of us who sat at home and despaired at the fact that we knew the system was broken, wishing we could make a change. Well, we're doing it you stupid monkeys. Lets get these tendies and stick it to the man!

 

[brackis1]

Hmmm I wonder who is right about all this: The non-partisan combo of Brackis1 and Rob Mafia who have traded almost every day for years? Or the random idiots pasting conspiracy theories?

 

[mkess101]

Hmmm I wonder who is right about all this: The non-partisan combo of Brackis1 and Rob Mafia who have traded almost every day for years? Or the random idiots pasting conspiracy theories?

Yeah if I gotta pick I'm going with you two. Maybe it runs up to $1k and I'm wrong but I'll side with the ones that know this stuff inside out.

I mean, if there's funds that are long GME and they dump shares to take huge profits now, doesn't that ease the pressure on the Melvins and others that are short? How many actual shares are held by institutional investors?

 

[Grassshoppa]

So apparently the reddit users just bought a billboard in NY talking about GME to the moon. Holy fuck lol.

https://www.foxbusiness.com/markets...square-billboard-as-gamestop-stock-saga-rages

Defiant Redditors buy Times Square billboard as GameStop stock saga rages
'$GME GO BRRR' is a reference to the sound a money-printing machine makes

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By Jon LevineNew York Post
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Murphy: Retail investing is not dead, it’s controlling markets
Defiant amateur investors on Reddit say they are not backing down on their investments in GameStop — and even took out billboards in Times Square and across the country urging the faithful to continue holding the line.

"$GME GO BRRR," blared a digital ad on the corner of 54th and Broadway in Manhattan. The ad ran for an hour on Friday and was a creation of digital billboard maker Matei Psatta.

YOUNG REPUBLICANS PLAN TO 'RE-OCCUPY WALL STREET' AFTER GAMESTOP DEBACLE

The line refers to a popular internet meme that uses "Brrr" to signify the sound a money-printing machine makes. GME is the stock’s ticker symbol on the NY Stock Exchange.

Investors on Reddit have driven the price of GameStop — a dusty mall electronics retailer worth only $2.57 a share at one point last year — to astronomical highs in just days. From a value of just under $40 a share on Jan. 14, the stock skyrocketed to $483 a share. Though price swings have been extremely volatile, the stock has spent much of the last five days comfortably above $300.

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The "movement" was initially organized by those on the Reddit page WallStreetBets. The pirate investors convulsed markets all week, pumping up Gamestop’s price in an effort to stick it to hedge fund short-sellers who bet against the stock and planned to profit from its failure. Instead, prices surged because of the renegade buyers, and some Wall Street institutions were brought to their knees.

 

[Grassshoppa]

Robinhood hit with class action. Fuck yeah.

https://nypost.com/2021/01/28/robinhood-hit-with-lawsuit-after-restricting-gamestop-stock/

 

[Grassshoppa]

GME reminds me of this song from the 90s: