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GameStop exposes the rigged system

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3 minutes ago, NickW said:

Whaever it makes me feckin sick. 

I invest real money. A fair amount through venture capital trusts to  make money and hopefully create jobs, not destroy them. 

And try working in the oil industry, oil prices have always been 100% manipulated, for no fault of your won you get your life turned upside down and destroyed because of the market manipulators sometimes they're even countries!

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Just now, El Nikko said:

And try working in the oil industry, oil prices have always been 100% manipulated, for no fault of your won you get your life turned upside down and destroyed because of the market manipulators sometimes they're even countries!

My time in O&G came to end in 2016 due to the slump. 

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1 minute ago, NickW said:

My time in O&G came to end in 2016 due to the slump. 

I've had 20 years of being brutalized by corporations chasing profits, losing work because I was 'too expensive' but expected to train my replacements.

I will not shed a tear seeing those sort of people get ruined and I pray it happens.

I sold my house in 2016, I didn't have to but I had a serious gut feeling that things would keep getting worse. That's not a prediction I'm happy to have been right on but I'm glad I did because I down sized at a time I should have been doing the opposite at 44 years old in the peak of my 'earning potential'.

 

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15 minutes ago, El Nikko said:

I've had 20 years of being brutalized by corporations chasing profits, losing work because I was 'too expensive' but expected to train my replacements.

I will not shed a tear seeing those sort of people get ruined and I pray it happens.

I sold my house in 2016, I didn't have to but I had a serious gut feeling that things would keep getting worse. That's not a prediction I'm happy to have been right on but I'm glad I did because I down sized at a time I should have been doing the opposite at 44 years old in the peak of my 'earning potential'.

 

I had 5 years in oil. Always knew the pay rates were unsustainable so used the opportunity to save most it. We live comfortably now - I work in rail. Mrs is a process engineer in food industry. 

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On 1/29/2021 at 10:00 PM, ronwagn said:

I have heard of people growing a lot of food on a simiar lot. Are you allowed chickens? They provide great fertilizer but it is too "hot" so needs to be mixed with wood chips or other cellulose. What growing climate are you in? https://www.gardeningknowhow.com/planting-zones/uk-hardiness-zones.htm

In the Uk, unless there is a specific condition you can keep chickens as they are classed as domestic livestock. Need to be careful with cockerels as their crowing can come foul of nuisance legislation. 

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Just now, NickW said:

I had 5 years in oil. Always knew the pay rates were unsustainable so used the opportunity to save most it. We live comfortably now - I work in rail. Mrs is a process engineer in food industry. 

My pay rates we never that great because geologists tend to be lower down in the food chain in pay unless you work offshore and get a good gig...highly unlikely in the last 5-10 years due to the foreign trained people as per my previous post.

But like you I had a few years where I put money into a pension fund which is probably going to be decimated if/when the crash happens.

I'm almost 50, retraining would be so brutal I'm not sure it would be worth it.

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23 hours ago, El Nikko said:

Actually I've been reading so much about all of this stuff, in the old days this information would have been passed down but we have a broken society now so youtube is like 'the old guy over the road'. 

We have a horse so we're bringing back loads of manure and I have been composting wood chippings ( not deliberate...I was just being lazy) and apparently chippings and leaves are full of carbon and accelerate the compositing of high nitrogen stuff like manure or grass cuttings.

After the (probably stolen) election fiasco I'd decided to get outside and stop caring and that is the result lol. I've been working on this plot for a few years. This time last year we had 6 storms/gales in a row, I was working and I couldn't go fishing either but the storms put everything back two months. On top of that I yet again lost a contract due to our clients pulling back in advance of the crash that came later Feb/March 2020.

We're getting loads of so called free money here in the UK and while I am a massive worrier and have made my own life even worse (through stress) over the last year I've at times enjoyed being unplugged. If I could be guaranteed to live this frugal life then I'd honestly be ok with it.

 

 

The best liquid fertiliser comes for free

Can You Use Urine to Fertilize Plants? - Dengarden - Home and Garden

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1 minute ago, El Nikko said:

My pay rates we never that great because geologists tend to be lower down in the food chain in pay unless you work offshore and get a good gig...highly unlikely in the last 5-10 years due to the foreign trained people as per my previous post.

But like you I had a few years where I put money into a pension fund which is probably going to be decimated if/when the crash happens.

I'm almost 50, retraining would be so brutal I'm not sure it would be worth it.

I was an Industrial / Occupational Hygienist

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23 minutes ago, El Nikko said:

I've had 20 years of being brutalized by corporations chasing profits, losing work because I was 'too expensive' but expected to train my replacements.

I will not shed a tear seeing those sort of people get ruined and I pray it happens.

I sold my house in 2016, I didn't have to but I had a serious gut feeling that things would keep getting worse. That's not a prediction I'm happy to have been right on but I'm glad I did because I down sized at a time I should have been doing the opposite at 44 years old in the peak of my 'earning potential'.

 

If you own your own house and haven't done so a good investment is getting it as energy efficient as possible. 

Guaranteed return

Tax free

Cash generative

Increases resillience against supply shocks. its going to happen in the late 20s / early 30's if they don't build some decent baseload to replace decommissioned coal plant / old nucs. I don't have much faith in that 3.6GW CCGT at Drax given the UKs 12 day gas reserve. 

 

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2 minutes ago, NickW said:

I've filled the first bed by half. It has a layer of chippings at the very bottom, then a thing layer of horse sh*t and another layer of chippings. As I was walking on it building the bed i've compacted it which isn't ideal but this is really for the health of the soil and the roots will take ages to get down that deep.

Then from the base of the bed upward there is a layer of small logs, branches leaves etc...that's all high carbon stuff and also helps as a filler because otherwise I'd use all my soil filling it. On top of the logs and branches is another 9 bags of horse manure which should work with the carbon to break each other down. More chippings to be half full and then I'll fill the final half with the soil/compost.

Urinating on the beds might not sound nice but it's a very good idea. Before the Victorian days people would come round to collect urine from people's houses...not like the stupid films where people threw it out the window. It was very valuable.

 

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(edited)

2 minutes ago, El Nikko said:

I've filled the first bed by half. It has a layer of chippings at the very bottom, then a thing layer of horse sh*t and another layer of chippings. As I was walking on it building the bed i've compacted it which isn't ideal but this is really for the health of the soil and the roots will take ages to get down that deep.

Then from the base of the bed upward there is a layer of small logs, branches leaves etc...that's all high carbon stuff and also helps as a filler because otherwise I'd use all my soil filling it. On top of the logs and branches is another 9 bags of horse manure which should work with the carbon to break each other down. More chippings to be half full and then I'll fill the final half with the soil/compost.

Urinating on the beds might not sound nice but it's a very good idea. Before the Victorian days people would come round to collect urine from people's houses...not like the stupid films where people threw it out the window. It was very valuable.

 

The Elizabethans dug up virtually every latrine in the country to get the saltpetre from evaporated piss to make gunpowder

I used to collect fresh horse manure and use it to build hot trenches. Grew fantastic sweetcorn on these. 

Edited by NickW
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By the way take a look at this just...because it's interesting.

As a geologist we always hated geographers etc on our degree...yes it's childish and also we used to look down our nose at soil or anything that wasn't actual rock. Kinda funny...but if I did retrain and I probably wouldn't bother it would be in soil science or something.

Realistically if I did a masters of a year at best or a degree the cost would probably outweigh some of the benefits...although the economic catastrophe we're entering might change that and they will probably be offering all kinds of incentives for people to retrain.

 

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5 minutes ago, NickW said:

The Elizabethans dug up virtually every latrine in the country to get the saltpetre from evaporated piss to make gunpowder

I used to collect fresh horse manure and use it to build hot trenches. Grew fantastic sweetcorn on these. 

We have a massive supply of free manure, how long did it take to turn it to compost using the hot method?

I was looking at hot composting in mounds and someone said they could make it break down in 4 weeks

 

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6 minutes ago, El Nikko said:

We have a massive supply of free manure, how long did it take to turn it to compost using the hot method?

I was looking at hot composting in mounds and someone said they could make it break down in 4 weeks

 

I put about 6-9 inches of earth over the manure and then planted the corn seedlings in that. Left them to it. Got full size very sweet cobs. That was in Cambridge. 

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9 minutes ago, NickW said:

I put about 6-9 inches of earth over the manure and then planted the corn seedlings in that. Left them to it. Got full size very sweet cobs. That was in Cambridge. 

That's sort of what I'm doing but also using the hugelkultur idea a little bit with the logs buried at the base...they should slowly break down releasing nutrients but also create a healthy ecosystem.

Might as well use that little bit of autism I have xD 

Do you think I'm a bit late putting down the fresh manure? It will be 2 months before the seeds are planted and it will probably be another 2 months before the roots get down so by that time you would think it would have broken down properly especially with all the chippings.

P.s how did I ruin a cool, thread on gamestop by talking about horse pooh? xD

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2 hours ago, El Nikko said:

I would call that a tad brutal 

 

 

The MA Secretary of State is right: there is no fairness, there is no integrity, there is no reasonable expectation of either.  That has nothing to do with short selling.  O'Leary is right: ALL traders lose money, it is speculation and it has risk, up or down.

I always love the herd mentality of many traders.  They say things like "Well, everybody's selling, so I had better sell too".  I say, "oh really, so who's buying from the sellers?"  "WHY are they buying WHEN everybody is selling?"  You simply cannot have buyers without sellers, and vice versa.

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2 hours ago, NickW said:

Whatever the product I fundamentally oppose naked short selling. 

I used to trade naked all the time, and then my wife said "enough is enough, put your damn pants on!"

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On 1/29/2021 at 4:24 PM, ronwagn said:

During the Carter stagflation I had to pay 12% for interest on a home! 

It was 18% on a five-year closed-end mortgage loan in Canada at that time.  18% is an amazing number.  I actually had an employee that got suckered into that deal.  Me, I don't do 18%.  

In the Canadian system, the mortgage would have a five-year maturity, and at maturity you would have to pay off whatever the outstanding principal might be.  For just about everybody, that means re-financing a new mortgage.  The rate structures are typical: variable, so much over LIBOR  (London Inter-Bank Offered Rate), or fixed and closed-end, which means you pay it all, even if you sell the house part way through.  You have to pay all that interest!  18% basically doubles your total debt.  I never bought a house in Canada, all I did was rent. 

In the American system, you can typically simply re-finance your loan to one with a lower rate.  When that 12% rate collapsed, a flood of home loans re-financed, most to around 6%.  A much better system.   Canadian banks are notorious for ripping off their customers.  Don't do business with Canadian bankers. 

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(edited)

5 hours ago, Dan Warnick said:

You simply cannot have buyers without sellers, and vice versa.

Sure you can.  What you end up with is what is called "open interest," or sellers desiring to sell and offering their shares into the market, but no buyers at the price requested. They are effectively uncompleted contract offers. 

If you have a flood of offers to sell and there are no buyers at that price, then you have downward pressure if some of those seller offers are specified as "at market."  Instead of "Bid" and "Ask," you have an offer at open contract.  What then happens is that a stock brokerage, called the "market maker," buys up your offered stock at a discount. In a volatile market, such as with GameStop, such Orders or Offers are risky, as you never can tell where the contract transaction price will end up.  You could lose your shirt or pay a huge premium. 

GameStop presents an unusual situation because the Buyers, that drove the price up, broke the implicit assumptions of the Wall Street market: that participants are there to make money on trades.  That dictum was trashed by the Reddit Buyers, who bought, not to make money, but to give the Wall Street predators, the "shorts," a first-class fucking. The Reddit-buyers don't care about money at all; they are angry, indeed furious, and see the stock rocketing as a chance to seriously hurt the Streeters where it counts: in their wallets.  So they cleaned out the Street for a quick five billion. This is called a "short squeeze," where the Reddit Buyers had a firm grip on the testicles of the Wall Streeters and are squeezing extra hard.  When you do Vengeance, the Revengers have no compunction about reaching into their adversaries' trousers and grabbing the flesh.  Indeed, it has this visceral component: they like grabbing hard. Really like it. 

The Street operates on the assumption that the Reddit Buyers are rational market players, doing their casino thing, to be suckered and bled dry by the Streeters in their rapacious short-selling.  Indeed, right now yet another group of very well-heeled hedge-fund types are doing naked short selling once again of GameStop at their $350.00 price level, because the Streeters understand that the stock is worth at best maybe nine bucks.  But that assumes that at some point the Redditers are motivated to cash out and start selling, which would crater the stock. 

But they won't.  Those Redditers don't care about the money.  They will hold those shares "forever," and even buy more, just to crater the next round of shorts.  The two groups are operating on quite different paradigms, and the Market just does not understand just how angry the Millenials are with them, for their past behaviour in wrecking the housing markets and industry. The Redditers will spend whatever it takes just to exact revenge.  The Shorts don't get it, because it makes no money sense.  It only makes sense if your goal is blood vengeance. 

In some other time frame, say 855 A.D., you would settle these disputes with swords and spears thrust through the torso.  Vengeance and revenge is a primitive emotion.  Just because people wear underpants and use toilet paper does not mean that they have suppressed the desire for vengeance.  It just takes on another form, that's all.   They are going to continue to go fucking the Street, using their "free money" stimulus checks as seed capital. Call it "The Revenge of the Nerds." 

Edited by Jan van Eck
typing error
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On 1/29/2021 at 8:59 PM, frankfurter said:

This event exposes the total fraud that is America.  A short sale means you are selling something you do not have.  In honest countries, this is illegal. But America has no morals, so anything goes. Kissinger: “The illegal we do immediately; the unconstitutional takes a little longer.”  Pompeass: We lie, we steal, we kill.  Are any Americans honest?  If yes, why do you tolerate such fraud and immorality? 

We don't tolerate it.  One one hand, a group will do the "Occupy Wall Street."  Another group will go file lawsuits.  A third group will attempt to mobilize the vote.  A fourth group attempted to storm the Capitol and kick the bums out.  

Lots and lots of Americans are decent, moral people - perhaps to a fault.  It is the bums on Wall Street, the Jüde  (and their enablers inside law firms and lobby firms on K Street) that have no morals,  they are the real predator bums.  If you want a prediction from me, those bums will end up living inside gated communities with armed guards.  The mob will storm those places, kill them, and burn down the McMansions.  Then the decent people will start over. 

Getting rid of a parasite class is always difficult.  Just look at Venezuela; or Brasil; or Russia; or Iran; or your own beloved China, where a humongous parasite class puts millions in razor-wire concentration camps.  Ultimately, they all get the Sword  (which they deserve). 

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What does or who is Jude?

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(edited)

8 minutes ago, WOC said:

What does or who is Jude?

Those who might bear a genetic resemblance to the tribe of Judah. But ethically are in the synagogue of Satan.

This is what they do, explained long before this recent blowing

 

Edited by Ward Smith
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(edited)

10 hours ago, Jan van Eck said:

GameStop presents an unusual situation because the Buyers, that drove the price up, broke the implicit assumptions of the Wall Street market: that participants are there to make money on trades.  That dictum was trashed by the Reddit Buyers, who bought, not to make money, but to give the Wall Street predators, the "shorts," a first-class fucking. The Reddit-buyers don't care about money at all; they are angry, indeed furious, and see the stock rocketing as a chance to seriously hurt the Streeters where it counts: in their wallets.  So they cleaned out the Street for a quick five billion. This is called a "short squeeze," where the Reddit Buyers had a firm grip on the testicles of the Wall Streeters and are squeezing extra hard.  When you do Vengeance, the Revengers have no compunction about reaching into their adversaries' trousers and grabbing the flesh.  Indeed, it has this visceral component: they like grabbing hard. Really like it. 

The Street operates on the assumption that the Reddit Buyers are rational market players, doing their casino thing, to be suckered and bled dry by the Streeters in their rapacious short-selling.  Indeed, right now yet another group of very well-heeled hedge-fund types are doing naked short selling once again of GameStop at their $350.00 price level, because the Streeters understand that the stock is worth at best maybe nine bucks.  But that assumes that at some point the Redditers are motivated to cash out and start selling, which would crater the stock. 

But they won't.  Those Redditers don't care about the money.  They will hold those shares "forever," and even buy more, just to crater the next round of shorts.  The two groups are operating on quite different paradigms, and the Market just does not understand just how angry the Millenials are with them, for their past behaviour in wrecking the housing markets and industry. The Redditers will spend whatever it takes just to exact revenge.  The Shorts don't get it, because it makes no money sense.  It only makes sense if your goal is blood vengeance. 

Do you think enough of the Redditers are really purely idealistic enough to keep this going indefinitely? I know many might be, but I'd guess many, maybe most, have jumped on the bandwagon to make some money. Many seem more interested in posting screenshots of their gains and talking about paying off student loans, etc, than talking about the principle of it.

Surely it's quite likely enough will want to cash out, probably soon, that it will start the avalanche, everyone else will be spooked, and it'll go right back to where it started - i.e. what it's actually worth since that hasn't changed? I've read a few comments posted along the lines of people being pissed off with Robinhood's moves so f u they're gonna cash out. Maybe that'll be the catalyst?

Edited by LiamP
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$SLV is next 

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