GameStop Stupidity 210127
January 27, 2021
Emailed to United Nations, Fed Chair Jay Powell, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, NYT/WSJ/WP/CNBC/DMN on 1/27/21
GameStop Stupidity is caused by U.S. Government corruption-stupidity! $159.0 Trillion of counterfeit money can buy a lot of video games!
'Peak Stupidity': The End Of The GameStop Short Squeeze Trade?
Mon, January 25, 2021, 11:46 AM
GameStop Short Squeeze January 2021
A handful of heavily shorted stocks experienced extremely volatile trading on Monday morning, leading some experts to speculate the 2021 short squeeze trade may have finally run out of steam.
The poster child of the short squeeze trade, video game retailer GameStop Corp. (NYSE: GME), traded as high as $159.18 on Monday before dropping back below $79.
Meanwhile, Nikola Corporation (NASDAQ: NKLA) initially spiked as high as $22.55 before trading back below $20.50. BlackBerry Ltd (NYSE: BB) initially jumped to $20.83 before dropping back to $17.30. Bed Bath & Beyond Inc. (NYSE: BBBY) rocketed all the way up to $47.73 but then pulled back to $31.0.
Explaining The Action: Benzinga PreMarket Prep co-host Dennis Dick and Tim Quast, founder and CEO of ModernIR and Market Structure Edge, discussed the short squeeze trade on Monday morning’s show.
“There are people arguing with me that GameStop’s fundamentals have totally turned around and this price is justified. And I’m trying to say this has absolutely nothing to do with company fundamentals in a move like GameStop,” Dick said.
Citron Research editor Andrew Left has taken a lot of heat from critics since taking a short position and setting a $20 price target for GameStop earlier this month. Quast said the difficulties Left and other small-time retail traders face in timing these huge runs is that they don’t have access to the same real-time information that large market makers like Citadel Securities do. In addition, the market makers don’t have to play by the same rules.
The corrupt U.S. Government is causing chaos in the global financial system by printing an infinite amount of counterfeit money!
The 'shorts' are right, GameStop is dramatically overpriced, but they are getting killed because the corrupt U.S. Government keeps printing more and more counterfeit money, so far $159.0 Trillion so we can keep on buying more video games! The corrupt U.S. Government has printed $159.0 Trillion of counterfeit money by fraudulently borrowing it from the future Americans so we can buy a billion cars, buy 25-30,000 airplanes, fill up America with big, nice houses, condos and apartments, and buy a whole lot of video games from GameStop!
The corrupt U.S. Government has printed $159.0 Trillion of imaginary-counterfeit money by fraudulently deferring $159.0 Trillion of public liabilities to the future Americans! When this accounting fraud is exposed, nobody will have any money to buy video games and the value of GameStop will be essentially ZERO!
I am a Whistleblower! The U.S. Government is corrupt!
The corrupt U.S. Government is not operating its fiscal policy according to Generally Accepted Accounting Principles (GAAP Accounting)! The corrupt U.S. Government is promising future benefits to the U.S. general public but is not taxing the U.S. upper class to pay for these future benefits! The corrupt U.S. Government is lying to and cheating the U.S. general public by promising them future benefits but is not accruing the money to pay these future benefits!
The corrupt U.S. Government is running a classic Ponzi scheme, I call it USAPonzi, that is in the process of fraudulently borrowing an infinite amount of money, I call it imaginary-counterfeit money, from the future Americans and giving it to the U.S. upper class by undertaxing them!
As a result of this fiscal and accounting fraud, the U.S. upper class is getting rich, the U.S. general public is getting screwed, and we are buying a-whole-hell-of-a-lot of video games!
The following commentaries explain this fiscal and accounting fraud that I call USAPonzi!
USAPonzi-The Great American Fraud
Whistleblower Letter #3 to U.S. General Public
Whistleblower Letter #6 to Congress
The devastating impact of this accounting fraud on Planet Earth is summarized in my Oct 1, 2020 commentary.
Quintet of Global Crises (Economy, Climate, Health, Hunger, Depression)
|Cash Deficit in FY2021
|GAAP Deficit in FY2021
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|Total National Assets
Source: www.usdebtclock.org January 27, 2021
The current fiscal policy of the corrupt U.S. Government, I call it USAPonzi, is Destroying Planet Earth!
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain USAPonzi and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can also be downloaded from my www.usaponzi.net website.
John W. White