Treasury Secretary Janet Yellen plans to meet with top federal financial agencies to discuss the Democratic administration’s response to Redditors’ ongoing hedge fund shorting game.
History has shown us over and over again that government ‘fixes’ just worsen the very problems government created to begin with.
Those worried about loose monetary policy, angry Redditors, and retail investors looking to get rich are all jumping into the crypto game, hoping the value of their coins rockets “to the moon.”
Ben Domenech railed against Wall Street and Big Tech elites for exploiting the current stock market situation to change the rules mid-game.
What’s happening right now has nothing to do with hedge funds, free markets, pricing theory, or any of that. It’s another front in the major war taking place across the world: It’s the elite vs. the populists.
Despite an $810,000 conflict of interest, newly confirmed Treasury Secretary Janet Yellen will not recuse herself from the ongoing hedge fund mania with Robinhood and GameStop.
An irony fit for the first month of 2021: A trading app that touts ‘democratizing investment’ reveals it’s willing to quash the little guy to keep hedge fund giants afloat.
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