2021 legit to me is just "Oh for fucks sake what now"
Can someone explain to me the whole gamestop thing going on, keep in mind I'm an idiot so please treat me as such.
@Ivafakename okay so
the basic, most simple premise is thusly:
step 1: Gamestop's stock market value was going down as they were failing.
People who get rich off basically gambling on, and manipulating (so they can guarantee their 'risks' as being wins, ergo, not gambling any more), the stockmarket, rather than doing any actual fucking work and just living off other people's hard work, thought this was a great opportunity to cheat the system more to win big by inflating the stock price.
@Ivafakename Step 2: Redditors see this, figure "fuck it, fuck these rich fucks, let''s fuck 'em see how they fucking like it" and do the ABSOLUTELY UNPRESCIDENTED, UTTER BLINDSIDING MOVE OF doing exactly what the rich fucks are doing and doing the same cheat that anybody else could do if they had the money and the time, but INSTEAD of doing it to inflate the value to then rapidly sell the stocks again, to make a quick buck before it all collapses, they deliberately make the stock go HIGHER.
@Ivafakename Step 3: all the rich fucks in step 1 are now nervous because their whole cheat relied on the value dropping more so they can basically sell them off at a 'loss' but actually NOT lose anything because they didn't actually BUY them with their money, they BORROWED them off someone else, then SOLD them to A THIRD person, who then would lose out.
But this only works if the value doesn't go UP any more.
@Ivafakename Step 4: These same rich fucks start buying MORE stock to cover this incoming loss, thus inflating the price MORE, but Reddit goes "LOL MY TURN NOW :D :D :D" and MORE people get involved, inflating the stock EVEN MORE, to the point that GameStop's share price goes fuckin' THROUGH. THE. GODDAMN. ROOF
Investors are now in full panic mode because they're gonna lose big, and the subreddit users who made this happen are laughing their ass off, as long as rich fucks lose, they're happy.
@Ivafakename Step 6: it isn't working : )
They're still trying to stop the redditors, and some investemnt apps and services are straight up just blocking anybody doing any trading to mitigate the losses of their owners and all these rich fucks who were cheating the system anyway, but it's still happening and HOPEFULLY they'll lose massively anyway.
and no, it doesn't make any sense, because of the following reasons, in the next toot
@Ivafakename
A) The stock market is NOT the economy despite what some "economists" and dipshits who think bitcoin is a legit thing still, and who probably think Pyramid Schemes/Multi-Level Marketing/Direct Sales bullshit should be legal and isn't a scam at all that they haven't totally got money riding on
B) Capitalism is all fake anyway and is already in its death throes, and is flailing rabidly, so someone should put it out of EVERYONE'S misery
and C) money is bullshit anyway and imaginary.
@Ivafakename
Step 5: the rich fuck market manipulators now play their hand, revealing that A) the stock market is a fuckin' joke anyway, and B) "the free market will regulate itself!!" is complete bullshit of the highest order, by begging regulatory bodies to regulate the market so they don't lose out because "the wrong people" are cheating the system in the way only THEY'RE meant to be allowed to do.