What I've Learned from the GameStop Fiasco...

I'm fucking done with fiat.

What even is our monetary system, policy and national goals with this shit? I bought enough GME shares to be interested in what was going on and it's a filthy sham. The hedge funds and capital management entities are pissing on the government, the people, the laws and the rest of the known world. They're blatantly and transparently breaking laws & regulations, lying and spreading misinformation to our news outlets, buying ads to redirect attention away from their scams, strong arming our brokerages into not selling shares, limiting shares, or straight up stealing peoples shares by forcing them to sell using limit stops that weren't set and couldn't be changed.

How has absolutely nothing been done about their complete lack of accountability? SEC? DOJ? Congress? Melvin Capital has something to the tune of THIRTY employees, shorting a company's stock over 140% of the floated shares, evidence of counterfeiting shares to short, then failing to deliver, then resetting the cover to kick the can down the road. The evidence of shares being created and sold out of thin air is astounding. The ramifications of these actions could bring down themselves, their capital management firm and subsequently the banks and cause a global recession in the worst case scenario. These things were supposed to have been made illegal in 2008 and put to a stop. This is UNPRECIDENTED. A small group of 30 people should NOT have this much influence, should not be able to ladder attack a stocks price from $400 to less than $100 by trading the same few stocks back and forth between each other using lightning fast algorithms.

This absolutely cannot be allowed. If they get away with this they'll just have a playbook by which to do this again and again. Toys R us, GameStop, AMC, Nokia, BlackBerry, just to name a few. Easy targets for these two dozen people to bleed dry, force bankruptcy, unemploy tens of thousands of people and effectively create less competition.

However this ends up, I'm fucking OUT. I've lost all faith in the US governments ability to enforce anything. The pandemic showed us they couldn't step up to protect their own tax paying citizens, they drag their feet on regulations to improve healthcare, equality and the environment. They look the other way when the 1% control the media, the wealth, and are completely immune to laws.

It's over. We've seen what our government is capable of (and not) these last few years. When difficult situations arise, what or WHO comes out to meet it?

I'm already invested in Bitcoin, but after this I'm ALL in. Every penny that I don't need for the immediate future, bills, food etc. is going into Bitcoin. The hedge funds can trade their stocks back and forth until the value of everything is zero. Fuck'em.