It matters when you see it being used in its original context, which immediately shows it to be false. That neo-nazi believes that we're ruled by ethnic minorities and (to his mind) moral degenerates, with his proof being that he's not allowed to speak his mind about them.
I kind of don't care about baggage of the original context; not about who said it, nor under what circumstances it was said. Just evaluate the words on their own.
> to learn who rules over you, simply find out who you are not allowed to criticize
As someone who lives in a country where you can't criticize certain people, because the full force of the government can come at you, it's certainly true.
Hopefully this crowd will realize regular finance is a rigged game rotten from the top down, and that crypto, for all of it problems and scams and whales manipulating the market is a paradise in comparison.
Good luck to them on their DOGE bet! If there's one crypto that deserve to be at the top, it's DOGE.
The bigger issue is how a problem caused by hedgefunds doing stupid things that verge on criminal (naked short selling) ends up getting weaved into a narrative about normal buying action in the market being market manipulation.
There is no convincing evidence of naked short selling in GME.
And it’s always been considered market manipulation to coordinate groups of investors to make the same trade, since the 1920s. I don’t think anything done on WSB crossed the line but it was in the vicinity.
The only clearly illegal acts were committed by DeepF**ingValue, since he had special obligations as a heavily licensed broker and brokerage firm employee while making his tout videos.
I definitely prefer working with random cryto people than with random finance people - at least, they are not trying to pretend to be what they aren't.
Well it is more complicated than that. The power structure is a complex web of entrepreneurs, government officials, land owners, military, finance, families who own businesses, CEOs of public companies etc.
WSB started the squeeze back in September. https://www.reddit.com/r/wallstreetbets/comments/iu3j38/gme_... GameStop is still trading at 6x the value it was back then. So even now those redditors are getting considerable returns. It's been a huge transfer of wealth from wall street fat cats to nerds on an Internet forum.
It's been a huge transfer of wealth from wall street fat cats to nerds on an Internet forum.
Once you factor in all the "nerds" who bought at 100+ and are now massively in the hole and all the "fat cats" who made millions playing the WSB crowd, I suspect you'll find a there will be a roughly net zero wealth transfer from the "wall street fat cats".
I dont think it is that simple and more of a spectrum. Some early nerds probably made a lot of money and then many nerds came in mid-to-late in the price run-up. Those guys probably lost money.
I feel like Reddit's moderation system might need an overhaul. Its happened quite a few times where "inactive" mods come back and wreak havoc on an otherwise successful subreddit. I feel like there should be a process to remove inactive mods.
In my opinion: The charm of reddit is the smaller subreddits, once a subreddit grows too large, it's usually better to just find a new one with the same purpose.
Reddit should definetly be investigated in that bump and dump scheme. They turned a blind eye to this whole saga and should be more transparent. Everything critical about the hysteric theories were either hidden or downvoted so no one can see the reality, they have to a responsibility to this situation.
And everything makes a lot more sense now. It had turned into complete garbage. I thought there must be no mods or they are completely in on the pumping.
I found this ongoing exuberance/push to hold terrifying. All the time posts felling people to hold with weird us vs them narratives - sounds to me like a ponzi scheme with the most naive left to hold air at the end when all of the early pushers have cashed out.
Who is 'us' and who is 'them' in this scenario? Are the people who cashed out at 300 while posting memes about "holding the line to fight The Man" 'us' or 'them'
To me the latest activity resembles T_D more than any other subreddit. In particular the desperate “us vs. them” mentality has echoes of recent pro-Trump communities. It’s like someone realized the QAnon energy could be channeled into a pump-and-dump scheme.
It seemed like someone figured out how to weaponize social media.
A lot of things that happened on T_D happened on wsb recently too.
- bots spamming 'X from Y, I just put in ZZZ cash' similar to T_D picture comments when Trump got elected with 'I just voted' where it was mostly spam
- copy pasta same thing, constantly on the GME thread even though it was outdated and moronic... (usually content is either well thought out, sarcasm/jokes, fresh memes)
- An insane amount of bots posting new spam threads visible when reddit ban limits were reached. (good thing for the moderators)
bitcoin is very much driven by an ideology of us v them, but the "them" is either bankers or the state, or both, depending on the flavor of libertarian LARPing you encounter.
You’ve got this completely backwards. Short sellers by definition have massive implications. And worse, they have limited upside and theoretically unlimited downside. Unlike the bulls who have limited downside and unlimited upside.
And that’s before we get to the fact that the markets are rigged against short sellers (e.g., there are circuit breakers that pause trading activity when prices are plummeting. There is no such circuit breaker when prices are rising steeply). There’s also massive information transparency issues. Pretty much everyone who is charged with making private company information public has extremely significant financial incentives to skew that information to be as positive as possible.
How many recessions have been caused by shorts going overboard?
On the other hand, a majority of recessions have been the result of assets being overpriced.
The idea that attacking shorts is somehow a good things, when the entire financial system is already tilted against shorts and is ridiculously in favor of those wanting to increase stock prices is beyond stupid.
Long time lurker there I also found it strange and manipulative.
It was also strange to see GME pushed since the sub had a no-penny-stock rule which means anything below 5B market cap would get insta delete.
Part of the strangeness included all the 'ape' comments and copy-pastas everywhere. (what ever happened to the previous 'autist' 'retard' and so on ...)
Even when a huge hedge fund sold massive amounts of stock, the forum was still blaming 'ladder' attacks (not that these didn't probably happen at some point).
Alas, the content on non-daily/non-gme thread was fun, the opportunity was there if you knew when to cash out and ignore things.
The "ape" thing came out of a thread where WSB users were trying to figure out how to explain the GME situation to casual observers. The most popular explanation that came out of it used snakes as the shorts, shorting bananas, and the WSB users as apes[0].
This then was built upon with the "aps together strong" scene from the Rise of the Planet of the Apes movie [1].
I've seen this movie so often I know all the lines. They come in and either buy out or leverage a mod, who brings in their cronies, some of whom also become mods.
They then begin banning content/users who don't align with their plan.
I've seen this go several ways. They either take over and use the sub for whatever, or tank the sub/message/whatever.
It's always incredibly frustrating seeing it from the inside. I've seen this firsthand done in personal life, business, online, everywhere. No aspect of existence has this shit not eroded.
The fact that we all just accept this as status quo is mind blowing. It's like rotten politicians in every movie. Why do we accept it?
FWIW I left reddit years ago after seeing exactly this happen to several subs.
56 comments
[ 3.1 ms ] story [ 120 ms ] thread"Cory Bernardi mistakenly 'quotes' Voltaire on Twitter with neo-Nazi's line | Cory Bernardi | The Guardian" https://www.theguardian.com/australia-news/2015/nov/27/cory-...
But the personal views of whoever said it should not matter when evaluating it's validity.
> to learn who rules over you, simply find out who you are not allowed to criticize
As someone who lives in a country where you can't criticize certain people, because the full force of the government can come at you, it's certainly true.
Good luck to them on their DOGE bet! If there's one crypto that deserve to be at the top, it's DOGE.
And it’s always been considered market manipulation to coordinate groups of investors to make the same trade, since the 1920s. I don’t think anything done on WSB crossed the line but it was in the vicinity.
The only clearly illegal acts were committed by DeepF**ingValue, since he had special obligations as a heavily licensed broker and brokerage firm employee while making his tout videos.
Once you factor in all the "nerds" who bought at 100+ and are now massively in the hole and all the "fat cats" who made millions playing the WSB crowd, I suspect you'll find a there will be a roughly net zero wealth transfer from the "wall street fat cats".
Have you been to WSB recently? Half the posts are "moon" and "HODL" chants
A lot of things that happened on T_D happened on wsb recently too.
- bots spamming 'X from Y, I just put in ZZZ cash' similar to T_D picture comments when Trump got elected with 'I just voted' where it was mostly spam
- copy pasta same thing, constantly on the GME thread even though it was outdated and moronic... (usually content is either well thought out, sarcasm/jokes, fresh memes)
- An insane amount of bots posting new spam threads visible when reddit ban limits were reached. (good thing for the moderators)
If there are 5 apples in the world, but I can go to the market and sell 10 of them, that market does not reflect the real price of apples.
Even more so if after that I can pretend to sell apples at even lower prices back and forth between me and my mate, who's also been selling apples.
Sure, you can hold some stock to hurt some "them"s, but at the same time, you will help other "them"s.
And that’s before we get to the fact that the markets are rigged against short sellers (e.g., there are circuit breakers that pause trading activity when prices are plummeting. There is no such circuit breaker when prices are rising steeply). There’s also massive information transparency issues. Pretty much everyone who is charged with making private company information public has extremely significant financial incentives to skew that information to be as positive as possible.
On the other hand, a majority of recessions have been the result of assets being overpriced.
The idea that attacking shorts is somehow a good things, when the entire financial system is already tilted against shorts and is ridiculously in favor of those wanting to increase stock prices is beyond stupid.
It was also strange to see GME pushed since the sub had a no-penny-stock rule which means anything below 5B market cap would get insta delete.
Part of the strangeness included all the 'ape' comments and copy-pastas everywhere. (what ever happened to the previous 'autist' 'retard' and so on ...)
Even when a huge hedge fund sold massive amounts of stock, the forum was still blaming 'ladder' attacks (not that these didn't probably happen at some point).
Alas, the content on non-daily/non-gme thread was fun, the opportunity was there if you knew when to cash out and ignore things.
This then was built upon with the "aps together strong" scene from the Rise of the Planet of the Apes movie [1].
But yeah, its a bit overdone.
[0]:Not the original, but one example - https://www.reddit.com/r/wallstreetbets/comments/l7jnqw/info...
[1]:https://www.youtube.com/watch?v=20LuSlZT4S4
They then begin banning content/users who don't align with their plan.
I've seen this go several ways. They either take over and use the sub for whatever, or tank the sub/message/whatever.
It's always incredibly frustrating seeing it from the inside. I've seen this firsthand done in personal life, business, online, everywhere. No aspect of existence has this shit not eroded.
The fact that we all just accept this as status quo is mind blowing. It's like rotten politicians in every movie. Why do we accept it?
FWIW I left reddit years ago after seeing exactly this happen to several subs.