Big Foot Hedge Funds Get CaughtThe big-footed hedge funds thought it would be easy as usual. They planned to stomp GameStop into the ground. They were so arrogant that they decided to sell short more shares than what existed in the stock’s float. This is known as ‘naked short selling’ and it’s illegal, but the law isn’t enforced. The SEC looks the other way. Wall Street is a big club run by mega-billionaires and they always win.
Find @GrrrGraphics on GAB.COM Freedom Of Speech! No more Twitter, should be renamed “Snitcher” Help fight against the tyranny of Big Tech, Democrat Communists and Cancel Culture! Will You Make A Donation to Support Our Work Today? Fictional Gordon Gekko was once asked, “Why did he needed to wreck a company,” and he replied, “Because it’s WRECKABLE, all right?!” It’s easier to quickly destroy for profit than build something over time for that same profit. The hedge funds profit from misery. Now it’s their turn to be miserable. If they are forced to pay up, look for the stock market to crash. Wall Street will have to pop the bubble to cover their shorts. This is what should happen in a free market. It’s a lesson that went unlearned in 2008 when the taxpayers bailed out corrupt Wall Street bankers instead of letting them fail. Sign Up For GRRRNews and NEVER miss a new cartoon- click to join our news letter Let them all fail now. They’ve put their big foot in it and they should get what they deserve.
Ben Garrison Original Cartoon Now Available- Click to reserve your historic art today- only ONE exists in the world via Political Absurdity New Tina Toon- When “Robinhood” turns out to be the “Sheriff of Nottingham”Robinhood was designed to appeal to the millennial generation of stock traders. With its slick design, commission free trades, and trendy catchphrases, (Let the people trade), Robinhood claimed it was all about ‘democratizing finance’ by making it simple. Unfortunately, when it came to their own customers buying the heavily-shorted company GameStop, Robinhood decided to start stealing from the poor and giving it to the rich.’ The rich hedge funds, that is. Citadel has a close financial relationship with Robinhood as well as a large stake in Melvin Capital, a hedge fund that massively shorted GameStop, with disastrous results. The millennials didn’t like the thought of their game store being driven out of business by ruthless hedge funds and they fought back by buying GameStop stock. So much so, that the hedge funds began to lose billions of dollars. This could not be tolerated by those who think they control the market and they were backed up by an angry and shrill CNBC, who railed against the young Reddit whippersnappers who upset their money-making applecart. On Thursday, Robinhood and other brokerages began blocking buys of GameStop, and it plummeted from nearly $500 to nearly $100 in a matter of minutes. This what happens when one can only sell a stock—not buy it. Find @GrrrGraphics on GAB.COM Freedom Of Speech! No more Twitter, should be renamed “Snitcher” Citadel denied leaning on Robinhood to skew the playing field in favor of their hurting hedge funds, but it looked mighty suspicious. Many traders on Robinhood were outraged by the blatant market manipulation of the company and many are leaving the platform in droves. Robinhood once bragged about democratizing finance, but when push came to shove, Robinhood chose the hedge funds over its own customers. Robinhood claims to give a voice to the voiceless, except when they disagree with what those voices say. Then they silence those voices. Robinhood stated they will allow normal trading on Gamestop today, but the damage has been done. Robinhood has been exposed. They serve the interests of the mega-rich, who are not allowed to lose. Hedge funds got to trade GameStop but not Robinhood’s own customers. When that happened we knew there were no free markets. Rules are for the little people, who usually lose. The mega-billionaires get to change the rules as they go along to benefit themselves. They are not afraid of the regulators since they are already interwoven with the corruption at the top. If they can rig the markets, they can rig the elections, the courts, the state legislatures, the media, the science, and so on. Every lie is being revealed. We should all condemn the actions of Robinhood, but more importantly….some of these big shots need to go to prison for the stunt they pulled on Thursday. —The GrrrTeam
Click to order your signed print today! via Political Absurdity UPDATE: GameStop HAS been stopped. It went up to nearly $500 early this morning, but corrupt brokerages—including Robin Hood—made it harder to buy the stock while also encouraging selling by means of halts and restrictions. In short, the mega-billionaires were able to change their own rules as they went along. The casino is theirs and they always win, even if it means they put their fat thumb on the roulette wheel right in front of your face.
The markets are rigged, just like our politics.
Thanks for playing—you lose!
The plannedemic helped the mega rich get mega richer while the little people got poorer. The biggest global corporations got bigger while smaller businesses were told they weren’t necessary. They were locked down. Many companies struggled was a result. Like weakened animals, they became prey to the powerful wolves that are Wall Street hedge funds. The hedge funds specialize in ‘shorting’ targeted stocks. A fund ‘borrows’ company shares from brokerages in a process known as ’selling short.’ For example, if you own shares of XYZ Corp., they can be borrowed by a hedge fund and then sold on the spot without you even knowing about it. With enough short selling the price of the stock goes down. The hedge funds eventually buy back the shares at much lower prices and pay back what they borrowed. This is known as short ‘covering.’ They profit by a stock’s decline. The shorts prey on vulnerable companies and hope to drive them out of business. When that happens they don’t even have to cover. Many investors consider hedge funds to be villains because they destroy companies and jobs. Elon Musk railed against those who shorted his company, Tesla. Some consider shorting to be a form of robbery. The hedge fund robbers are now complaining about getting robbed. They expected GameStop to go to zero. Instead it quickly went up from a few dollars to over $300 and cost them billions. Not only had they massively shorted GameStop, they were also ‘naked’ short, which means they sold shares they didn’t even borrow. Shares that never existed. How can they pay those shares back? They can’t, and many young people caught onto what was going on. When one of their beloved companies was attacked by the hedge funds, the millennials fought back by buying shares. They spread the news about GameStop on social media sites such as Reddit and 4chan. Many who got in early become millionaires, but many are doing it for another reason: It’s not about money so much as teaching the powerful Wall Street oligarchs a lesson. The millennials have gotten the short end of the stick. They’re burdened by college debt. They don’t have jobs that pay a decent wage. They’ve been marginalized and treated as inconsequential little people. They have been cut out of the American Dream, while mega-billionaire globalists collect more wealth and power. Yet in this instance the weak and powerless have successfully fought back. What they have revealed is just how rigged and collusive Wall Street has become. So has the regime that recently and blatantly stole a presidential election. The top of the pyramid have revealed themselves to be hopelessly corrupt. They are liars and ruthless con men. They are criminals who don’t have to follow their own rules while they display contempt for the powerless. Find @GrrrGraphics on GAB.COM Freedom Of Speech! No more Twitter, should be renamed “Snitcher” The SEC doesn’t care if hedge funds are naked short, which is supposedly illegal. Instead, the regulators want to shut down the ‘longs’ who are buying GameStop. The little people always get the blame. A hedge fund going bankrupt and losing billions of dollars can’t be tolerated, so now it appears that the corrupt brokerages and regulators are going to change the rules midstream—just as the Democrats changed voting rules in key states to steal the election. The corporate media are already blaming those who bought GameStop stock. The little people are accused of ‘manipulating’ the stock. Next they’ll be smeared as ‘financial terrorists,’ when in fact it’s the naked shorting hedge funds who are the real terrorists. In this instance, the little people have won—even if GameStop is forced back to Earth. What the millennial generation has shown us is just how corrupt and rigged the stock market really is. My hat is off to them. Seeing them win a battle against a powerful and corrupt financial system sure does help morale. The bad guys can lose and that brings hope.
—Ben Garrison
via Political Absurdity Hey Hedge Fund Guys..Learn To Code! The plannedemic helped the mega rich get mega richer while the little people got poorer. The biggest global corporations got bigger while smaller businesses were told they weren’t necessary. They were locked down. Many companies struggled was a result. Like weakened animals, they became prey to the powerful wolves that are Wall Street hedge funds. The hedge funds specialize in ‘shorting’ targeted stocks. A fund ‘borrows’ company shares from brokerages in a process known as ’selling short.’ For example, if you own shares of XYZ Corp., they can be borrowed by a hedge fund and then sold on the spot without you even knowing about it. With enough short selling the price of the stock goes down. The hedge funds eventually buy back the shares at much lower prices and pay back what they borrowed. This is known as short ‘covering.’ They profit by a stock’s decline. The shorts prey on vulnerable companies and hope to drive them out of business. When that happens they don’t even have to cover. Many investors consider hedge funds to be villains because they destroy companies and jobs. Elon Musk railed against those who shorted his company, Tesla. Some consider shorting to be a form of robbery. The hedge fund robbers are now complaining about getting robbed. They expected GameStop to go to zero. Instead it quickly went up from a few dollars to over $300 and cost them billions. Not only had they massively shorted GameStop, they were also ‘naked’ short, which means they sold shares they didn’t even borrow. Shares that never existed. How can they pay those shares back? They can’t, and many young people caught onto what was going on. When one of their beloved companies was attacked by the hedge funds, the millennials fought back by buying shares. They spread the news about GameStop on social media sites such as Reddit and 4chan. Many who got in early become millionaires, but many are doing it for another reason: It’s not about money so much as teaching the powerful Wall Street oligarchs a lesson. The millennials have gotten the short end of the stick. They’re burdened by college debt. They don’t have jobs that pay a decent wage. They’ve been marginalized and treated as inconsequential little people. They have been cut out of the American Dream, while mega-billionaire globalists collect more wealth and power. Yet in this instance the weak and powerless have successfully fought back. What they have revealed is just how rigged and collusive Wall Street has become. So has the regime that recently and blatantly stole a presidential election. The top of the pyramid have revealed themselves to be hopelessly corrupt. They are liars and ruthless con men. They are criminals who don’t have to follow their own rules while they display contempt for the powerless. Find @GrrrGraphics on GAB.COM Freedom Of Speech! No more Twitter, should be renamed “Snitcher” The SEC doesn’t care if hedge funds are naked short, which is supposedly illegal. Instead, the regulators want to shut down the ‘longs’ who are buying GameStop. The little people always get the blame. A hedge fund going bankrupt and losing billions of dollars can’t be tolerated, so now it appears that the corrupt brokerages and regulators are going to change the rules midstream—just as the Democrats changed voting rules in key states to steal the election. The corporate media are already blaming those who bought GameStop stock. The little people are accused of ‘manipulating’ the stock. Next they’ll be smeared as ‘financial terrorists,’ when in fact it’s the naked shorting hedge funds who are the real terrorists. In this instance, the little people have won—even if GameStop is forced back to Earth. What the millennial generation has shown us is just how corrupt and rigged the stock market really is. My hat is off to them. Seeing them win a battle against a powerful and corrupt financial system sure does help morale. The bad guys can lose and that brings hope.
—Ben Garrison
via Political Absurdity |
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