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Speaker 1: From UFOs to psychic powers and government conspiracies. History is

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Speaker 1: riddled with unexplained events. You can turn back now or

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Speaker 1: learn the stuff they don't want you to know. A

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Speaker 1: production of I Heart Radio. Hello, welcome back to the show.

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Speaker 1: My name is Matt, my name is Noel. They call

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Speaker 1: me Ben. We're joined as always with our super producer Paul.

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Speaker 1: We like the stocks decond Most importantly, you are you

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Speaker 1: who are here, and that makes this stuff they don't

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Speaker 1: want you to know. Gentlemen, one yeah, is the squeeze

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Speaker 1: cloes bro What a ride? Yes? So in an earlier episode,

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Speaker 1: we we referenced this episode fairly often. Actually, we explored

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Speaker 1: the concept of quote unquote economy, and in that up

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Speaker 1: episode we put out a call to all our fellow

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Speaker 1: listeners to tell us the difference between the current ideology

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Speaker 1: of the economy and the tactics of religion. At the

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Speaker 1: time of this recording, so far none of us have

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Speaker 1: discovered a differentiating trait. If if an economy is a religion,

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Speaker 1: and if that religion has a god, then that god

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Speaker 1: is the concept of energy over time. We'll call it value,

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Speaker 1: and exploiting that value over time is a multi billion

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Speaker 1: dollar business. And it gainst surreal pretty quickly. Like, do

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Speaker 1: you guys remember game stop? When's the last time we

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Speaker 1: were in a game stop? You know? I actually I

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Speaker 1: like to pop into a game stop every time I

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Speaker 1: go to a mall. Uh. And there's actually there are

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Speaker 1: some freestanding game stoff. People always assume they're only in

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Speaker 1: malls where there's one near me, um in the local

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Speaker 1: Target shopping center on Moreland Avenue in Atlanta. I don't

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Speaker 1: know why the nostalgia thing. Did you guys remember the

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Speaker 1: game stop used to be Babbage Is talk about? Remember

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Speaker 1: a mall store? Yes, and I too have a local

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Speaker 1: game stop, which I still frequent because I'm a thirty something.

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Speaker 1: You're old man that still plays video games. I dig it,

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Speaker 1: I dig it. I like I'm a physical copy guy,

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Speaker 1: you know what I mean, whether books or games. It's

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Speaker 1: the only way to make sure that you actually own

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Speaker 1: the thing you buy. It's a good point because if

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Speaker 1: you're getting it from a server situation, who knows if

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Speaker 1: the thing you get when you stream it or whatever,

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Speaker 1: or for all of a sudden be bricked because he

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Speaker 1: didn't do the latest update. So well, I guess that

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Speaker 1: could happen with discs too, but it's it's a really

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Speaker 1: good point. You make them shout out to Kendall for

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Speaker 1: their infamous deletion of George Orwell's after people bought it. UH. Look.

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Speaker 1: On Tuesday, the week we record this, we're recording January

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Speaker 1: twenty nine, game Stop, which is still around UH, saw

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Speaker 1: its fortunes turn in a very weird way. There's stock

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Speaker 1: price skyrocketed over the previous price, and this sent shock

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Speaker 1: waves through the stock market, through the world of finance overall.

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Speaker 1: And this is an ongoing event, meaning there's information on

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Speaker 1: the way that we don't have yet no one does,

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Speaker 1: and the story we're covering today continues. So by the

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Speaker 1: time this reaches the air, some of the information may

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Speaker 1: be outdated. But as the Matt Hatter says, let's start

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Speaker 1: at the beginning. We'll go through the middle and do

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Speaker 1: our best to find the end. Game Stop, Wall Street Reddit,

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Speaker 1: here are the facts. What the hell just happened? How

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Speaker 1: is how is this brick and mortar business suddenly one

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Speaker 1: of the hottest stocks on the planet. Yeah, it feels

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Speaker 1: very weird to even be talking about game Stop in

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Speaker 1: the news outside of something terrible happening to yet another

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Speaker 1: brick and mortar store. I don't know if any of

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Speaker 1: you guys got like messages from friends like what's going

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Speaker 1: on with game Stop? Because it was a little confusing.

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Speaker 1: It was like game Stop was trend and we do

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Speaker 1: something weird was going on with the stock market and

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Speaker 1: game Stop. But because of the kind of a little convoluted,

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Speaker 1: uh and and mysterious nature of the stock market, it's

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Speaker 1: not something that everybody can immediately wrap their head around.

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Speaker 1: So it definitely does do a little digging and requires

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Speaker 1: some kind of basic knowledge of some foundational yet very

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Speaker 1: odd concepts of the stock market. Yeah, I wanna on

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Speaker 1: that note, I want to thank everybody who reached out

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Speaker 1: via Twitter or Instagram or sent send a text. Uh.

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Speaker 1: This this story broke in the mainstream pretty much this week,

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Speaker 1: but there's there's a lot to it, and I think

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Speaker 1: you're right. We have to We have to first start

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Speaker 1: with the stock market, which is a ridiculous thing. We

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Speaker 1: all we all pretend it's not ridiculous, but it's it's

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Speaker 1: a ridiculous thing. So imagine your company. You have two

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Speaker 1: ways to raise money to cover your startup costs or

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Speaker 1: to grow your business. You can either borrow money that's

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Speaker 1: debt financing. Or you can sell stock, sell shares of

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Speaker 1: your company, that's equity financing. And a share of stock

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Speaker 1: is literally a little piece of ownership of your company,

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Speaker 1: whether that's Applebee's, whether that's Game Stock, BlackBerry, AMC Theaters, Nokia,

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Speaker 1: all the rest, all the good ones, Discovery Communications, Classic Stock. Yeah.

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Speaker 1: Well it's interesting too because even if you're not like,

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Speaker 1: say h, a Lion's share stockholder, you know, of a company,

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Speaker 1: you are still entitled to a lot of the same

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Speaker 1: information and uh privy to some of the same kind

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Speaker 1: of meetings that those people are. So even if you're

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Speaker 1: like just hold a little bit of stock, you get

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Speaker 1: prospectus is on what's going on with the company, um,

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Speaker 1: and you are able to sit in on these shareholder

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Speaker 1: meetings where like the CEO gives kind of the rundown

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Speaker 1: of what's going on with the company. And that's because

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Speaker 1: you have bought a share of the stock. So you

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Speaker 1: are you are part of you are part of the

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Speaker 1: ownership or the owner class. Uh. That means you're entitled

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Speaker 1: to a proportional fraction of the assets and the earnings

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Speaker 1: of that company. Assets or everything a company owns and

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Speaker 1: earnings or all the money brings in from whatever it's selling,

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Speaker 1: whether it's a product or a service. And this is

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Speaker 1: this is what happens on the stock market. The stock

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Speaker 1: market kind of mimics two other concepts. Number one insurance,

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Speaker 1: somebody cover us, somebody have our back. Number two gambling

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Speaker 1: Vegas baby, Uh it's uh. Wall Street is is in

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Speaker 1: some ways Vegas with a tie, you know. And an

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Speaker 1: investor uses money to support this given idea, this company,

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Speaker 1: this endeavor, and if the endeavor succeeds, the investor wins.

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Speaker 1: If it fails, the investor loses their influence. Ordinarily in

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Speaker 1: a basic buying a stock kind of thing, but there

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Speaker 1: are there are multiple ways to participate, to play in

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Speaker 1: this casino. For the vast majority of people, the vast

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Speaker 1: majority of individual investors what are called retail investors. This

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Speaker 1: means that you buy a certain stock at a certain price,

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Speaker 1: hopefully a low one, and then hopefully later on down

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Speaker 1: the line, you sell it at a higher price. So

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Speaker 1: you you get your let's see, what's what's a good one? Uh,

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Speaker 1: you get your coffee whatever, You get your coffee stock

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Speaker 1: at ten dollars, and next month you sell it for fifteen.

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Speaker 1: Good job, but as we said, that's just the beginning.

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Speaker 1: To understand what's happening, we have to understand the concept

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Speaker 1: of something called short selling, yeah, which is essentially the

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Speaker 1: reverse of that concept. Instead of buying low and selling high,

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Speaker 1: you're buying high and selling low. Kind of that's a little,

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Speaker 1: you know, oversimplification, but um, the idea is that you

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Speaker 1: borrow a stock that you don't actually own, and then

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Speaker 1: you sell it. You're making a bet that the stocks

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Speaker 1: price will go down, um, and then you can sell it.

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Speaker 1: You can return it back to the person the broker,

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Speaker 1: I guess that you've borrowed it from UM, and then

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Speaker 1: you pocket the difference in you know, in the stock

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Speaker 1: price from when you borrowed it to when the end

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Speaker 1: of that contract expires. It's a really weird concept, and

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Speaker 1: it's still difficult for me to wrap my head around

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Speaker 1: it necessarily UM, and so many different places have attempted

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Speaker 1: to explain it. Um. It still doesn't make sense that

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Speaker 1: there's money in it, except except for the fact that

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Speaker 1: you're the borrowing is really important, borrowing it and then

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Speaker 1: selling it in hopes of I I don't understand. God.

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Speaker 1: It's the old line from Popeye's right I'll gladly pay

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Speaker 1: you on Wednesday for a hamburger on Tuesday. Vulture has

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Speaker 1: a really good explanation of this that I hope is

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Speaker 1: how full for a lot of us in the audience today.

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Speaker 1: Let's say, um, Matt, Let's say Paul has a book.

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Speaker 1: That book is worth ten bucks. And so you go

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Speaker 1: to Paul and you say, that's that's a kick ass book.

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Speaker 1: Can I borrow it. I'm going to give it back

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Speaker 1: to you in a couple of days. And then you

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Speaker 1: take that book, which you do not own, and you

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Speaker 1: sell that book to someone else for ten dollars. That's

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Speaker 1: that's how much the book is worth. But you're thinking

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Speaker 1: this book is gonna be less valuable before you have

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Speaker 1: to give the book back to Paul. And so the book,

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Speaker 1: let's say the book drops um to four dollars. Everybody said,

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Speaker 1: this is not a ten dollar book. This is a

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Speaker 1: four dollar book. There's so many of them. And so

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Speaker 1: now you can go and buy the actual book for

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Speaker 1: four dollars and you can give it back to Paul,

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Speaker 1: and now you have six dollars. That makes so much

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Speaker 1: more sense. So that makes a much more sense. Okay,

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Speaker 1: So that's a very that's oversimplified. Um, what you're doing

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Speaker 1: in that example is you're closing that short position. You

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Speaker 1: were buying those shares. You're getting that book from the market,

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Speaker 1: and you're getting it cheaper than than it was when

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Speaker 1: you borrowed it and sold well. And it makes so

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Speaker 1: much more sense why you would have you know, uh,

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Speaker 1: firms that represent a bunch of people buying a ton

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Speaker 1: of stock in when they're shorting it. That makes so

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Speaker 1: much more sense. Okay, I would argue that the book example,

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Speaker 1: UH is almost like you're you're doing this without the

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Speaker 1: person's knowledge. You're you're you're essentially stealing their property, and

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Speaker 1: then if it doesn't work out, you're paying them back

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Speaker 1: for it without having gotten permission to sell it in

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Speaker 1: the first place. I am assuming that there is an

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Speaker 1: understanding when you're shorting these stocks that that's exactly what

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Speaker 1: you're going to do. This. This is a contract that

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Speaker 1: that sets some terms as to what the parameters are

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Speaker 1: around this relationship. Yeah, to make it to give people

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Speaker 1: a better sense of the stakes, let's let's get rid

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Speaker 1: of the book example and say that instead Matt has

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Speaker 1: borrowed Paul's Lamborghini and sold Paul's Lamborghini, and now as

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Speaker 1: ten days to find a cheaper Lamborghini because he has

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Speaker 1: to give the car back. So Jeffrey A. Borne, who

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Speaker 1: is a professor of finance and Associate dean of undergraduate

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Speaker 1: Programs in the Damore mckim's School of Business has has

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Speaker 1: a great explanation and it's it's kind of what you

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Speaker 1: were you were saying earlier, Nold. We know the way

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Speaker 1: to make money on the stock market is to buy low,

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Speaker 1: sell high. But you can do that in either order,

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Speaker 1: and shorting is the backwards order. That's where it gets risky. Okay,

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Speaker 1: because back to this vulture example with the book. Let's

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Speaker 1: say that Matt, the book you you got, you borrowed

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Speaker 1: ten dollar book, but now all of a sudden, a

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Speaker 1: few days later, it's a one thousand dollar book and

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Speaker 1: you have to buy that book. And you can only

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Speaker 1: buy it for a thousand dollars because you have to

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Speaker 1: give it back to Paul. So if the price increases

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Speaker 1: instead of declining, then you as the investor, as the

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Speaker 1: book borrower, are on the hook and you just lost money.

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Speaker 1: You just in this example, you just lost a ton

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Speaker 1: of money. It's a bad day to the person on

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Speaker 1: the other end doesn't matter to them because they're gonna

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Speaker 1: get the book back either way. They're gonna get the

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Speaker 1: stock back either way. They don't care what's happened in

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Speaker 1: the interim as far as they're concerned. They just let

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Speaker 1: you borrow the thing and then they get it back

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Speaker 1: no matter what. So it's up to you to make

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Speaker 1: sure that that thing is returned. It's going to be

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Speaker 1: returned one way or the other. There's no like, oh sorry,

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Speaker 1: I don't have it anymore that that's not part of

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Speaker 1: the arrangement. You absolutely have to get it and pay

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Speaker 1: whatever it takes to get it. But if you get

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Speaker 1: it back for cheaper, then you pocket that difference. And

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Speaker 1: that's how you make your money. And if you do

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Speaker 1: this a bunch successfully, you can make a lot of money.

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Speaker 1: But if if you're thinking at home, this sounds really

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Speaker 1: dodgy and kind of unethical and sort of sleazy. I mean,

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Speaker 1: there's an argument that that's the case, and it's a

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Speaker 1: very controversial practice even among high level Wall Street types.

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Speaker 1: Maybe that maybe would be considered like the ethical set

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Speaker 1: of of Wall Street. Yeah, just to jump back to

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Speaker 1: that book example of a second, if that book was

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Speaker 1: then worth a thousand dollars and then now I owe

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Speaker 1: I have to do like spend a grand to give

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Speaker 1: the book back to Paul. I'm definitely calling Congress or

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Speaker 1: the SEC and and asking for a bailout immediately. Oh yeah, yeah,

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Speaker 1: yeah yeah uh. And if you're the right kind of entity,

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Speaker 1: your chances of getting a bailout are much higher than

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Speaker 1: if the you know, if you were like Matt's mutual funds,

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Speaker 1: that's hedge funds, you probably have a better chance candidly

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Speaker 1: of getting getting some help from Uncle Sam than you

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Speaker 1: would if you were just Matt the person. So this

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Speaker 1: all brings us to Game Stop. This is the environment

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Speaker 1: in which Game Stops story is occurring. Yes, that game

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Speaker 1: Stop used to be Babbage is brick and mortar store.

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Speaker 1: They sell video games, new and used video game consoles, toys,

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Speaker 1: and movies. It turns out someone was attempting to short

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Speaker 1: sell game Stop, and that makes sense because game Stop

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Speaker 1: is in a mall. Game Stop is a physical store.

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Speaker 1: Those those are two very difficult things to navigate nowadays.

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Speaker 1: And as they say in Scooby Doo, the people attempting

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Speaker 1: to short sell game Stop would have gotten away with

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Speaker 1: it too. If it wasn't for some sharp eyed nerds,

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Speaker 1: and I say this with great affection with their eyes

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Speaker 1: on the market. There's a guy who was known as

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Speaker 1: Roaring Kitty or Deep in Value, who actually got docs recently.

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Speaker 1: So we're just gonna keep with his internet handles. Uh.

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Speaker 1: He he's the one who realized there was a hedge

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Speaker 1: fund shorting game stop stock. In July, he made a

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Speaker 1: video that's about an hour long where he explained his

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Speaker 1: logic and why he is bullish on the stock, which

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Speaker 1: is about I think about four dollars per share when

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Speaker 1: he recorded it. Uh, and which right right? And uh?

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Speaker 1: And we were talking earlier with with Paul and Paul

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Speaker 1: what was the stock at today? Did you check? Paul

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Speaker 1: has just told us the stock is as we record

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Speaker 1: at three hundred and forty eight dollars a little north

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Speaker 1: of that per share, So for four dollars to three

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Speaker 1: and forty eight dollars. Uh. This video came out in

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Speaker 1: twenty but he's been buying this stuff earlier, yes, since

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Speaker 1: twenty nineteen and as we record today, Uh, this kind

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Speaker 1: of packet of stocks including you know again, the whole

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Speaker 1: idea behind this this practice is to target stocks that

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Speaker 1: will likely fail to target companies that will likely fail.

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Speaker 1: It's not like doing this is going to make them

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Speaker 1: more likely to fail, because that would be extra crappy.

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Speaker 1: But it's it's it's just a practice of kind of

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Speaker 1: making bets that these stock and these companies are not

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Speaker 1: going to do well. So a lot of companies that

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Speaker 1: were affected by the pandemic, like Game Stop, like the

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Speaker 1: movie theater chain AMC are on the table for this

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Speaker 1: type of practice. Um So a lot of these stocks

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Speaker 1: have been bundled up and would have been widely reported

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Speaker 1: as something called a short squeeze, which is a combination

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Speaker 1: of it's basically a a way to screw over these

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Speaker 1: investors that make their money shorting stocks. What a step

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Speaker 1: back real quick though, because there's an important point and

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Speaker 1: I think a lot of our listeners are thinking this too,

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Speaker 1: which is what you said is absolutely correct in theory.

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Speaker 1: It's absolutely correct. However, we have to remember we're talking

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Speaker 1: about influence on a macro scale. If you have the

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Speaker 1: juice for it, and if you have the connections. Let's

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Speaker 1: say you're Matt's mutual fund and you're short selling books. Uh,

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Speaker 1: you can have Matts or one of Matt's employees where

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Speaker 1: someone who knows Matt from college or something go on

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Speaker 1: seeing it, go on Fox, go on MSNBC and say

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Speaker 1: something like, you know what sucks this book, and then

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Speaker 1: that can that can influence the price of that book,

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Speaker 1: and that does happen. Uh, there's not really. I mean

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Speaker 1: it's kind of you can see how it's tough to

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Speaker 1: regulate that. Uh, and that's yeah. Yeah, there aren't a

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Speaker 1: lot of regular folks showing up on CNBC to tell

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Speaker 1: you a viewer about their special stocks that they like

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Speaker 1: to trade in. Elon Musk got in trouble quite a

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Speaker 1: few times for saying things on Twitter that affected his

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Speaker 1: own stock price. Uh, and then he got in trouble

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Speaker 1: with his board and they basically said, yeah, you can't

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Speaker 1: do that. Stop stop doing that. Whether he was knowingly

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Speaker 1: doing it to game the system, as you know, he's

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Speaker 1: he's kind of an interesting mavericky type fellow. It's hard

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Speaker 1: to say I would lean towards he knew exactly what

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Speaker 1: he was doing. But you know, Donald Trump, for example,

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Speaker 1: and I can't think of any direct examples of um

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Speaker 1: using his presidential platform to directly call out an individual stock,

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Speaker 1: but he certainly did for sectors and certainly indicated that

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Speaker 1: you know, certain investments where we're gonna be going into

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Speaker 1: certain sectors, and that would absolutely affect stock prices, but

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Speaker 1: it would be harder to pend because again the language

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Speaker 1: that he used was more broad and vague. Yeah, it

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Speaker 1: gets it gets sticky real quick and does By the way,

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Speaker 1: have you guys, have you guys looked at what's been

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Speaker 1: going on with Tesla stock? Dear God, it's out of

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Speaker 1: control right, Like, it's just it's nuts. I don't like

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Speaker 1: I don't like being a person that thinks about stocks

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Speaker 1: a lot. I don't like this feeling that I've had

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Speaker 1: over the past couple of days thinking about money all

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Speaker 1: the time. Yeah, I don't even I don't particularly care

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Speaker 1: for casinos myself. I just, you know, if you have

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Speaker 1: fun with them, have fun with them, and just do

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Speaker 1: so responsibly. A short squeeze is another thing that's a

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Speaker 1: little bit difficult to regulate against. Is one a stock

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Speaker 1: or other asset has a huge jump in price, and

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Speaker 1: this forces all our book buyers in this example UH

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Speaker 1: to buy up the stock to try to stem the

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Speaker 1: flow of financial blood, and that scramble only drives the

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Speaker 1: stock higher and higher. And this is why At one

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Speaker 1: point recently, the cost of game Stop stock, which is

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Speaker 1: our tongue twister for the day, swared by like as

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Speaker 1: much as seventeen h percent, not a hundred and seventy

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Speaker 1: one thousand, seven zero zero percent. This can lead to

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Speaker 1: insane losses for those short sellers. These losses, by the way,

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Speaker 1: a little bit of foreshadowing could in theory be much

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Speaker 1: much higher than say an SEC fine for illegal market manipulation. Dude, dude,

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Speaker 1: you know what we're gonna do this Ben. Throughout this episode,

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Speaker 1: I'm just going to tell you what Game Stop stock is. Okay,

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Speaker 1: because we said before it's now three uh so it's

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Speaker 1: our It's like you know, obviously stocks fluctuate a ton

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Speaker 1: throughout the day, up and down like that. But we're

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Speaker 1: just gonna see where we where we land. Okay, let's

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Speaker 1: keep going, and what a good time to pause. We'll

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Speaker 1: be back after a word from our sponsor. Maybe Matt,

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Speaker 1: maybe you can kick us off by telling us if

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Speaker 1: the price is the same, Oh it's it's back down

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Speaker 1: now it's three fifty seven and we're back. How did

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Speaker 1: this happen? Someone got caught with their hand in the

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Speaker 1: cookie jar. As we said, Game Stop was ailing. A

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Speaker 1: lot of people thought it's demise was on the horizon

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Speaker 1: very near. Uh. Sales were sluggish because for all the

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Speaker 1: reasons that we just named, you don't really have to

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Speaker 1: go to a physical store to buy a new game

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Speaker 1: nowadays you can download it. Malls are the native environment

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Speaker 1: of Game Stop stores, and they were already in dire

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Speaker 1: straits way before a pandemic. And so traditional investors are

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Speaker 1: being rational about this and they're saying, hey, there's a

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Speaker 1: chance to do our short selling thing. But they overdid it.

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Speaker 1: In a worst case scenario, a lot of folks will

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Speaker 1: tell you that somewhere around five to ten of a

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Speaker 1: stock could be shorted. This was not the case with

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Speaker 1: Game Stop. No, those investors shorted one of Game Stop

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Speaker 1: stock more than one, and then and then it went

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Speaker 1: to more, and then you just kept going. But I

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Speaker 1: don't understand, how is there not a ceiling? How can

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Speaker 1: the I be Nope, sorry, the markets closed on Game Stop.

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Speaker 1: You can't do anymore. It's like it's like overselling a concert.

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Speaker 1: I've never understood how you can over sell a concert,

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Speaker 1: or it's on an airline. It just seems like the

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Speaker 1: very basic level of green kind of I don't know

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Speaker 1: what it is. So they're borrowing these shares, right, so

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Speaker 1: they're borrowing more shares than actually exists. And people initially

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Speaker 1: didn't really didn't really heed what Roaring Kitty or df

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Speaker 1: V was saying. He invested fifty three thou dollars in

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Speaker 1: the beginning, and people were kind of mocking them and

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Speaker 1: they were like, oh, wow, you're crazy. I mean, yolo

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Speaker 1: do you bro, but don't expect much. And then online

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Speaker 1: forms specifically read It eventually had his back and an

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Speaker 1: online community of stunk watchers that's s t O n

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Speaker 1: k Uh saw an opportunity to do a couple of

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Speaker 1: things with GameStop picture and you can see the memes

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Speaker 1: picture the famous Heath Ledger take on the Joker in

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Speaker 1: the Nolan Dark Knights series saying, it's not about the money,

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Speaker 1: it's about sending a message. Yeah, or the the other

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Speaker 1: Joker from the Joker. There's a fantastic video that you

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Speaker 1: can find online or it's I guess it's more of

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Speaker 1: a gift that's animated, but that goes throughout the whole

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Speaker 1: scene there at the end where the Joker does some

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Speaker 1: the thing that he does on that show. You know,

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Speaker 1: what I'm talking about. Uh, it's it's just fantastic, and

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Speaker 1: it does speak to millennials and people who are younger

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Speaker 1: than us, and it really hits home and it makes sense.

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Speaker 1: Why why a group of folks who are investing on

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Speaker 1: their own and don't have a lot of assets to

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Speaker 1: their name, and don't feel like they don't have a

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Speaker 1: lot of opportunities because the situations have changed since their

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Speaker 1: previous generation, Why that group of people would want to

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Speaker 1: do this? Yeah? Yeah, they had a couple of reasons.

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Speaker 1: Of course, there's there's a there's a profit motive, right,

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Speaker 1: we could make some money off of this. Uh. There's

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Speaker 1: also this ideological push that has has some kind of

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Speaker 1: like cognitive DNA in common with Occupy Wall Street if

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Speaker 1: anybody remembers that from a thousand years ago. Now, Uh,

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Speaker 1: they wanted to damage these hedge funds that make billions

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Speaker 1: of dollars by betting on the failures of these companies.

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Speaker 1: They also wanted to troll this industry, and frankly, if

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Speaker 1: you talk to a lot of people involved, they'll say

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Speaker 1: they like games stop, they have nostalgia for it, just

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Speaker 1: like many of us listening today. We like the stock

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Speaker 1: and they also wanted to show the collective power that

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Speaker 1: people without millions of dollars of capital could could exert

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Speaker 1: if they worked together. And that's where that's where a

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Speaker 1: subreddit called Wall Street mets comes in. And uh, you know,

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Speaker 1: we've all been having various conversations about this off air.

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Speaker 1: Wall Street mets is is getting portrayed in a weird

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Speaker 1: way in the mainstream media in some ways that are

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Speaker 1: either intentionally or accidentally misleading. But it it's a lot

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Speaker 1: of people who are identifying themselves as day traders or

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Speaker 1: retail investors, and they were keeping an eye on these

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Speaker 1: companies that had a lot of stock shorted, and they

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Speaker 1: coordinated their efforts having d f vs back to buy

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Speaker 1: tons and tons of Game Stop stock as much as

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Speaker 1: they could, and they wanted to to drive up the

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Speaker 1: price for this hedge fund and make it very expensive

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Speaker 1: for them to buy back these stocks and make good

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Speaker 1: on their short positions. That's the short squeeze, and it

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Speaker 1: it kind of well, the story is not over yet,

428
00:25:40,480 --> 00:25:43,600
Speaker 1: but it kind of worked. Financial data companies estimate short

429
00:25:43,640 --> 00:25:48,239
Speaker 1: sellers lost upwards of seventy billion dollars so far just

430
00:25:48,440 --> 00:25:53,600
Speaker 1: because of this short squeeze on Game Stop and on

431
00:25:53,680 --> 00:25:57,520
Speaker 1: other stocks. But this is not the crazy part. Let's

432
00:25:57,520 --> 00:26:00,600
Speaker 1: look at what happens uh, At what Wall Street did,

433
00:26:00,760 --> 00:26:05,200
Speaker 1: how they reacted when peasants invaded the casino. Here's where

434
00:26:05,240 --> 00:26:11,520
Speaker 1: it gets crazy. Yes, enter robin Hood, an app that

435
00:26:11,600 --> 00:26:13,840
Speaker 1: many of you may have heard of from this very show,

436
00:26:13,880 --> 00:26:18,000
Speaker 1: because we in fact have done some advertising with robin

437
00:26:18,040 --> 00:26:22,919
Speaker 1: Hood in the past. Robin Hood is a investment tool

438
00:26:23,480 --> 00:26:26,479
Speaker 1: APP that folks are able to use to kind of

439
00:26:26,520 --> 00:26:28,720
Speaker 1: get dip their toe into the stock market. It's sort

440
00:26:28,720 --> 00:26:31,760
Speaker 1: of presented as like for the people. Uh. They very

441
00:26:31,840 --> 00:26:34,359
Speaker 1: much aligned themselves with kind of the aftermath and the

442
00:26:34,440 --> 00:26:37,879
Speaker 1: fallout uh and public sentiment towards Wall Street after the

443
00:26:37,880 --> 00:26:41,280
Speaker 1: Occupy Wall Street movement. UM and and very much capitalized

444
00:26:41,320 --> 00:26:43,240
Speaker 1: on that, you know, the idea of robin Hood robbing

445
00:26:43,280 --> 00:26:45,440
Speaker 1: from the rich and giving to the poor or the people.

446
00:26:45,720 --> 00:26:50,120
Speaker 1: It's anyone's market out there, right. But unfortunately, the this

447
00:26:50,440 --> 00:26:54,800
Speaker 1: particular story, UH put some cracks in that facade that

448
00:26:54,840 --> 00:26:58,639
Speaker 1: they've tried so desperately to to cultivate. UM. Many of

449
00:26:58,640 --> 00:27:01,040
Speaker 1: the retail investors that drove up the price of Game

450
00:27:01,080 --> 00:27:05,840
Speaker 1: Stop and others in these bundles of short squeeze UM

451
00:27:05,880 --> 00:27:10,280
Speaker 1: positions were using robin Hood to do so. UM the

452
00:27:10,400 --> 00:27:13,879
Speaker 1: retail investors noticed something odd though, when this all started

453
00:27:13,920 --> 00:27:17,920
Speaker 1: to hit the fan. Robin Hood and other brokers like them,

454
00:27:18,560 --> 00:27:22,520
Speaker 1: we're restricting these stocks in kind of weird ways. And

455
00:27:22,520 --> 00:27:26,360
Speaker 1: when we say restricting we literally mean they were not

456
00:27:26,440 --> 00:27:31,439
Speaker 1: allowing users to buy them some to some users right

457
00:27:31,720 --> 00:27:35,480
Speaker 1: to buy existing game stop stock. It would only allow

458
00:27:35,520 --> 00:27:40,320
Speaker 1: them to sell the positions that they already had. UM

459
00:27:40,720 --> 00:27:43,439
Speaker 1: why would they do this, you might ask, was it

460
00:27:44,160 --> 00:27:46,600
Speaker 1: out of like some sort of you know, sense of

461
00:27:46,840 --> 00:27:50,080
Speaker 1: justice for the financial market to know this will not stand,

462
00:27:50,359 --> 00:27:53,239
Speaker 1: or is there something deeper at play, or you know,

463
00:27:53,800 --> 00:27:56,800
Speaker 1: why wouldn't they see this as a positive, Because it

464
00:27:56,840 --> 00:28:01,399
Speaker 1: really is an example of the poor rising up and

465
00:28:01,520 --> 00:28:04,440
Speaker 1: robbing from the rich. Is exactly what robin Hood as

466
00:28:04,480 --> 00:28:09,119
Speaker 1: an icon stands for. UM. So, by only allowing you

467
00:28:09,320 --> 00:28:12,280
Speaker 1: some users to sell the stock they already had, it

468
00:28:12,359 --> 00:28:16,159
Speaker 1: allowed this hedge fund, melvin Um, which was already in

469
00:28:16,320 --> 00:28:19,159
Speaker 1: dire straight at this point, to buy up the stock

470
00:28:19,200 --> 00:28:22,080
Speaker 1: that they had shorted in the hopes of kind of

471
00:28:22,119 --> 00:28:26,720
Speaker 1: reducing some of this damage. You know, both robin Hood

472
00:28:26,760 --> 00:28:33,040
Speaker 1: and another UM company called Interactive Brokers also raised margin requirements,

473
00:28:33,080 --> 00:28:36,120
Speaker 1: which means that the trader needed to have more collateral

474
00:28:36,640 --> 00:28:40,440
Speaker 1: in order to maintain that position. Um, if they didn't

475
00:28:40,440 --> 00:28:44,280
Speaker 1: have what these outfits saw as the necessary collateral, they

476
00:28:44,320 --> 00:28:48,320
Speaker 1: they would automatically have their positions closed out. That doesn't

477
00:28:48,360 --> 00:28:52,160
Speaker 1: seem very Robin hoodie, does it. Well, Yeah, it seems

478
00:28:52,200 --> 00:28:55,959
Speaker 1: like you're you're pushing out people who were jumping on

479
00:28:55,960 --> 00:28:57,840
Speaker 1: a bandwagon, or at least that's it. It It seems like

480
00:28:57,840 --> 00:29:02,120
Speaker 1: what they're attempting to do rum on the scale essentially,

481
00:29:02,840 --> 00:29:06,640
Speaker 1: So you're right, the outcry begins. A lot of people

482
00:29:07,240 --> 00:29:10,680
Speaker 1: who are you know, falling victim to this, are crime

483
00:29:10,800 --> 00:29:13,400
Speaker 1: foul and it's a it's a valid thing to have

484
00:29:13,440 --> 00:29:17,560
Speaker 1: a problem with. For the past few years, Robin hood

485
00:29:17,840 --> 00:29:21,480
Speaker 1: has spent a lot of time and energy. Marketing itself

486
00:29:21,600 --> 00:29:25,880
Speaker 1: is something born out of Occupy Wall Street were democratizing

487
00:29:26,000 --> 00:29:30,960
Speaker 1: finance for all. Uh, But it turns out a lot

488
00:29:30,960 --> 00:29:34,000
Speaker 1: of people are saying they feel this may not be

489
00:29:34,120 --> 00:29:38,320
Speaker 1: as impartial an institution as it appeared to be. There's

490
00:29:38,360 --> 00:29:42,120
Speaker 1: a very old cliche on the Internet, not a story

491
00:29:42,200 --> 00:29:45,200
Speaker 1: the Jedi would tell you if a service appears to

492
00:29:45,280 --> 00:29:48,640
Speaker 1: be free to a user. Facebook is a great example,

493
00:29:49,000 --> 00:29:51,320
Speaker 1: then it means that you're not the real customer, you're

494
00:29:51,360 --> 00:29:55,360
Speaker 1: the product. Robin Hood is popular because it's commission free,

495
00:29:55,520 --> 00:29:57,800
Speaker 1: meaning you can make trades and you don't have to

496
00:29:57,800 --> 00:29:59,760
Speaker 1: pay uh, you don't have to pay a little bit

497
00:29:59,800 --> 00:30:02,400
Speaker 1: of a vig to make those trades. So how did

498
00:30:02,440 --> 00:30:05,680
Speaker 1: that make money? How are they doing this for free? Well,

499
00:30:06,160 --> 00:30:10,720
Speaker 1: they're taking these trades that these users are making, and

500
00:30:10,760 --> 00:30:14,840
Speaker 1: they're selling the information about those trades to other firms,

501
00:30:14,920 --> 00:30:19,000
Speaker 1: to large firms before these orders are actually executed. And

502
00:30:19,040 --> 00:30:21,520
Speaker 1: that means that if you are positioned correctly as one

503
00:30:21,560 --> 00:30:25,200
Speaker 1: of these firms, you can see the trends, you can

504
00:30:25,240 --> 00:30:29,600
Speaker 1: see the wind moving through the financial forest, and then you,

505
00:30:30,120 --> 00:30:35,120
Speaker 1: as this large firm, can take that information and use

506
00:30:35,160 --> 00:30:39,280
Speaker 1: it to inform your own financial actions. It's it's pretty

507
00:30:39,320 --> 00:30:41,200
Speaker 1: neat when you think about the system, you get a

508
00:30:41,240 --> 00:30:44,280
Speaker 1: window into what's happening. It kind of reminds me of

509
00:30:44,280 --> 00:30:48,000
Speaker 1: the AI things that we've discussed in the past on

510
00:30:48,040 --> 00:30:51,000
Speaker 1: this show of attempting to find a way to tell

511
00:30:51,040 --> 00:30:55,440
Speaker 1: the future by looking at the past closely enough and

512
00:30:55,520 --> 00:30:57,920
Speaker 1: like right up to the moment um and being able

513
00:30:58,000 --> 00:31:02,480
Speaker 1: to simulate something right. Because it's almost like you can,

514
00:31:02,560 --> 00:31:06,120
Speaker 1: you can see it that way. It's strange, strange that

515
00:31:06,120 --> 00:31:08,960
Speaker 1: that's what it actually was, and that's all confirmed, Like,

516
00:31:09,080 --> 00:31:12,160
Speaker 1: that's that's that's what they were doing. That's the Yeah,

517
00:31:12,160 --> 00:31:16,920
Speaker 1: that's the business model. Jeez. So robin Hood's largest customer

518
00:31:17,360 --> 00:31:22,440
Speaker 1: is allegedly a firm known as Citadel Securities. They apparently

519
00:31:22,440 --> 00:31:25,920
Speaker 1: tried to bail out Melvin Capital. That's the hedge fund

520
00:31:25,960 --> 00:31:28,000
Speaker 1: they got, you know, the one that was popping up

521
00:31:28,000 --> 00:31:31,920
Speaker 1: in the headlines for this shorting of game Stop. So

522
00:31:32,080 --> 00:31:34,880
Speaker 1: the big fish are buying info from robin Hood and

523
00:31:34,880 --> 00:31:39,600
Speaker 1: they're inserting themselves into this process, into this kind of

524
00:31:39,720 --> 00:31:44,320
Speaker 1: chain of events between when you as a customer make

525
00:31:44,360 --> 00:31:47,880
Speaker 1: a deal on robin Hood and when it actually gets

526
00:31:47,920 --> 00:31:52,400
Speaker 1: executed on Wall Street. This is something called order flow,

527
00:31:52,600 --> 00:31:55,080
Speaker 1: and and Vice has a pretty good explanation of this.

528
00:31:55,600 --> 00:31:59,560
Speaker 1: Vice says Citadel Securities pay tens of millions of dollars

529
00:31:59,640 --> 00:32:03,160
Speaker 1: for this order flow, but makes money by automatically taking

530
00:32:03,240 --> 00:32:06,280
Speaker 1: the other side of the order, then returning to the

531
00:32:06,320 --> 00:32:09,000
Speaker 1: market to flip the trade, and then it gets to

532
00:32:09,040 --> 00:32:11,520
Speaker 1: pocket the difference between the price to buy and the

533
00:32:11,520 --> 00:32:14,000
Speaker 1: price to sell, and that's known as the spread isn't

534
00:32:14,040 --> 00:32:17,240
Speaker 1: that interesting that the term spread is another term that

535
00:32:17,280 --> 00:32:21,800
Speaker 1: you often hear and sports betting, horse racing, you know,

536
00:32:21,880 --> 00:32:23,760
Speaker 1: all that kind of stuff. I mean, they really are

537
00:32:24,520 --> 00:32:26,680
Speaker 1: relying on a lot of the same concepts in terms,

538
00:32:27,520 --> 00:32:29,920
Speaker 1: and there's there's a good case to be made that

539
00:32:30,240 --> 00:32:35,760
Speaker 1: some of this retail investment action may be happening because

540
00:32:35,920 --> 00:32:39,240
Speaker 1: of the decline in sports betting during the COVID pandemic.

541
00:32:39,480 --> 00:32:45,240
Speaker 1: You know. So there we there we are. Outfits like

542
00:32:45,320 --> 00:32:48,640
Speaker 1: Citadel are supposed to be honest dealers. They're supposed to

543
00:32:48,640 --> 00:32:52,080
Speaker 1: look for the best price for any particular order. Uh

544
00:32:52,080 --> 00:32:55,800
Speaker 1: and whether and that's whether they internalize the order themselves

545
00:32:55,960 --> 00:32:59,760
Speaker 1: or whether they send it to the market. Fortunately, this

546
00:33:00,160 --> 00:33:03,800
Speaker 1: has not always been the case. Back in they were

547
00:33:03,840 --> 00:33:07,600
Speaker 1: fined twenty two million dollars by the SEC because their

548
00:33:07,640 --> 00:33:11,280
Speaker 1: algorithms were taking advantage of retail investors when it was

549
00:33:11,320 --> 00:33:15,440
Speaker 1: purchasing those order flows. We're gonna pause for a word

550
00:33:15,480 --> 00:33:19,560
Speaker 1: from our sponsor, and then we'll be back to explore

551
00:33:19,760 --> 00:33:30,160
Speaker 1: more because the tail continues to unfold. And we're back,

552
00:33:30,280 --> 00:33:32,960
Speaker 1: which means it's time for I don't know about you guys,

553
00:33:32,960 --> 00:33:36,400
Speaker 1: but my new favorite game Matt Frederick what is the

554
00:33:36,480 --> 00:33:40,360
Speaker 1: stock price of Game Stop. Game stock at this moment

555
00:33:40,480 --> 00:33:46,880
Speaker 1: is three seven that's going up and down, baby, you

556
00:33:46,960 --> 00:33:49,840
Speaker 1: never know. Uh. Just to jump back really quickly to

557
00:33:49,920 --> 00:33:53,960
Speaker 1: the Citadel thing, it makes so much sense that it's

558
00:33:53,960 --> 00:33:56,520
Speaker 1: exactly what we're talking about. Citadel is getting all that

559
00:33:56,560 --> 00:33:59,040
Speaker 1: information from Robin Hood right, the order flow of what's

560
00:33:59,040 --> 00:34:02,640
Speaker 1: coming through, and they are they're literally going opposite to

561
00:34:03,080 --> 00:34:07,800
Speaker 1: whatever all of the retail peasants want, and so that way,

562
00:34:08,040 --> 00:34:12,160
Speaker 1: it's almost as if it's canceling out what retail UH

563
00:34:12,239 --> 00:34:16,240
Speaker 1: stock buyers and sellers are doing. It's interesting because now

564
00:34:16,960 --> 00:34:19,640
Speaker 1: since we're talking about game Stop, let's let's introduce the

565
00:34:19,640 --> 00:34:22,960
Speaker 1: next part. This way, a new player has injured the game.

566
00:34:24,000 --> 00:34:28,400
Speaker 1: The sound cue has this cause been co opted. Vice

567
00:34:29,160 --> 00:34:33,440
Speaker 1: has again done some excellent reporting on this, and there's

568
00:34:33,440 --> 00:34:37,879
Speaker 1: a narrative here that's presented online. It's the idea of

569
00:34:38,080 --> 00:34:41,040
Speaker 1: like the little guy, right, the person who is not

570
00:34:41,400 --> 00:34:46,040
Speaker 1: a Wall Street tycoon, banding together with like minded people

571
00:34:46,560 --> 00:34:50,160
Speaker 1: to get back to get revenge of some sort on

572
00:34:50,239 --> 00:34:54,080
Speaker 1: the big fish. But the truth of the matter is

573
00:34:54,120 --> 00:34:59,160
Speaker 1: probably more complicated. It's probably not just like a kind

574
00:34:59,160 --> 00:35:01,920
Speaker 1: of a star war is narrative of the rebels versus

575
00:35:01,960 --> 00:35:06,080
Speaker 1: the empire. Yes, and that's because the financial system has

576
00:35:06,120 --> 00:35:09,560
Speaker 1: a ton of moving parts. Uh. And these day traders

577
00:35:09,640 --> 00:35:13,680
Speaker 1: using robin hood who see themselves as you know, literal

578
00:35:13,960 --> 00:35:17,919
Speaker 1: kind of robin hoods freedom fighters, um, are really just

579
00:35:18,840 --> 00:35:21,560
Speaker 1: just kind of blips on the radar. They're just tiny

580
00:35:21,640 --> 00:35:26,799
Speaker 1: cogs in a massive, massive, very very expensive machine. UM.

581
00:35:27,000 --> 00:35:31,360
Speaker 1: So it's worth you know, mentioning that whatever profits some

582
00:35:31,520 --> 00:35:34,320
Speaker 1: of these day traders end up with on game Stop,

583
00:35:34,640 --> 00:35:37,040
Speaker 1: it's really ultimately a drop in the bucket. Uh. The

584
00:35:37,120 --> 00:35:39,440
Speaker 1: huge firms that own the majority of game stock stock

585
00:35:39,719 --> 00:35:42,680
Speaker 1: will likely in the end, still come out on top,

586
00:35:43,000 --> 00:35:45,880
Speaker 1: not to you know, rain on this whole freedom fighting

587
00:35:45,960 --> 00:35:50,000
Speaker 1: kind of stick it to Wall Street parade. But these entities,

588
00:35:50,320 --> 00:35:54,200
Speaker 1: these massive too big to fail type firms are are

589
00:35:54,200 --> 00:35:57,759
Speaker 1: folks like Fidelity and black Rock, and they all own

590
00:35:58,000 --> 00:36:01,920
Speaker 1: millions of game Stop shares each. Uh. For example, I

591
00:36:01,960 --> 00:36:05,440
Speaker 1: think black Rock owned around nine point two million shares

592
00:36:05,560 --> 00:36:08,880
Speaker 1: worth about a hundred and seventy four million dollars. That

593
00:36:08,960 --> 00:36:12,719
Speaker 1: was at its original price back in December. And that's

594
00:36:12,719 --> 00:36:16,720
Speaker 1: according to SEC filings that were published this week. UM,

595
00:36:16,800 --> 00:36:21,840
Speaker 1: that stake now is worth about three point one billion dollars.

596
00:36:22,440 --> 00:36:25,800
Speaker 1: I hope they sold. Yeah, this is at least me

597
00:36:25,800 --> 00:36:28,160
Speaker 1: to ask something that I asked off off Mike, and

598
00:36:28,360 --> 00:36:30,440
Speaker 1: I think it's something that maybe there isn't really a

599
00:36:30,480 --> 00:36:33,960
Speaker 1: good answer to. But obviously we can see how this

600
00:36:34,880 --> 00:36:38,920
Speaker 1: false inflation of the stock price can benefit these big fish.

601
00:36:39,000 --> 00:36:41,680
Speaker 1: But how does it actually benefit the company? You know,

602
00:36:41,719 --> 00:36:46,600
Speaker 1: because it's obviously like a an incorrect, you know, assessment

603
00:36:46,760 --> 00:36:50,960
Speaker 1: of how the company is actually doing. Because you think

604
00:36:50,960 --> 00:36:53,840
Speaker 1: a stock price would be reflective of how a company

605
00:36:53,920 --> 00:36:57,239
Speaker 1: is doing what they're you know, futures are their perspective

606
00:36:57,320 --> 00:37:00,560
Speaker 1: of growth, et cetera during their quarterly earnings or parts

607
00:37:00,600 --> 00:37:02,120
Speaker 1: and all of that. It should be tied to some

608
00:37:02,200 --> 00:37:05,839
Speaker 1: physical asset, whether it be a brick and mortar store,

609
00:37:05,880 --> 00:37:09,279
Speaker 1: you know, inventory or what have you. So, how does

610
00:37:09,360 --> 00:37:14,680
Speaker 1: this vastly over inflated stock price actually benefit the folks

611
00:37:14,719 --> 00:37:19,160
Speaker 1: that run the game stop company? Yeah, it's an interesting question, right,

612
00:37:19,320 --> 00:37:28,880
Speaker 1: How how closely associated are the stocks and the actual thing? Right? Um,

613
00:37:28,920 --> 00:37:32,880
Speaker 1: it's important to note that, you know, an economy alone

614
00:37:33,160 --> 00:37:36,680
Speaker 1: is not the health of a nation or a country,

615
00:37:36,760 --> 00:37:43,360
Speaker 1: and stock price alone is not always indicative of the

616
00:37:43,440 --> 00:37:47,279
Speaker 1: actual value of the thing, right, Because what we're talking

617
00:37:47,280 --> 00:37:50,360
Speaker 1: about at this point is kind of an article of faith.

618
00:37:51,000 --> 00:37:55,920
Speaker 1: We're circulating ideas and beliefs and values, right, we're betting,

619
00:37:56,080 --> 00:37:59,400
Speaker 1: we're believing in a thing where we're attempting to convince

620
00:37:59,520 --> 00:38:04,719
Speaker 1: other people to believe in a thing. Right and um,

621
00:38:04,760 --> 00:38:07,840
Speaker 1: you know, like the dollar is a coupon. You know,

622
00:38:07,920 --> 00:38:10,440
Speaker 1: we all just sort of believe that it will work.

623
00:38:10,680 --> 00:38:15,239
Speaker 1: It represents um energy and labor over time. That that

624
00:38:15,400 --> 00:38:18,520
Speaker 1: is the value of the dollar. You're really trading time

625
00:38:19,000 --> 00:38:22,360
Speaker 1: when you pay someone a dollar, when someone gives you

626
00:38:22,400 --> 00:38:25,719
Speaker 1: a dollar, and this, I would argue, this is kind

627
00:38:25,719 --> 00:38:28,759
Speaker 1: of similar, and you know it is. It is amazing.

628
00:38:28,960 --> 00:38:33,040
Speaker 1: We're seeing story after story of you know, a kid

629
00:38:33,120 --> 00:38:35,840
Speaker 1: just out of college that invested a little bit of

630
00:38:35,840 --> 00:38:37,680
Speaker 1: money and game stop and then was able to pay

631
00:38:37,680 --> 00:38:41,160
Speaker 1: off you know, his or her student loans almost immediately

632
00:38:41,320 --> 00:38:44,280
Speaker 1: over the course of a year, or you know, um,

633
00:38:44,320 --> 00:38:46,600
Speaker 1: someone who was able to buy their first home and

634
00:38:46,640 --> 00:38:48,120
Speaker 1: it didn't look like they were going to be able

635
00:38:48,160 --> 00:38:51,840
Speaker 1: to because they couldn't find steady income. Um. But you know,

636
00:38:51,880 --> 00:38:55,799
Speaker 1: it's just it's incredible that that is true and exists

637
00:38:56,200 --> 00:38:58,480
Speaker 1: and came out of this whole deal. It is also

638
00:38:58,560 --> 00:39:02,319
Speaker 1: weird to think that black Rock or whatever you know,

639
00:39:02,360 --> 00:39:07,160
Speaker 1: went from Scrooge McDuck level to buying a palace on

640
00:39:07,200 --> 00:39:12,160
Speaker 1: the Black Sea, right the Mansa Musa or Putin level. Yeah, this,

641
00:39:12,560 --> 00:39:14,760
Speaker 1: I think that's a really good point that we shouldn't

642
00:39:14,800 --> 00:39:18,359
Speaker 1: miss here. Um. Even if even if some of these

643
00:39:18,360 --> 00:39:24,160
Speaker 1: individual investors are at scale accurately described as a drop

644
00:39:24,200 --> 00:39:27,120
Speaker 1: in the bucket, that's a life changing drop. That's that's

645
00:39:27,200 --> 00:39:30,839
Speaker 1: amazing for so many people. Uh. And right now, as

646
00:39:30,960 --> 00:39:34,600
Speaker 1: as we record, there are many people on online forums

647
00:39:35,000 --> 00:39:38,279
Speaker 1: who are urging one another to hold as in, to

648
00:39:38,400 --> 00:39:41,920
Speaker 1: not sell game stop in these other stocks because that

649
00:39:41,920 --> 00:39:46,759
Speaker 1: would enable some of these short sellers to get some

650
00:39:46,920 --> 00:39:49,960
Speaker 1: stocks back, right, to get those borrowed stocks back and

651
00:39:50,000 --> 00:39:53,120
Speaker 1: close their position. And then there are other things that

652
00:39:53,160 --> 00:39:55,520
Speaker 1: are happening. They're really weird things. I don't know about

653
00:39:55,520 --> 00:39:59,959
Speaker 1: you guys, but I didn't I didn't expect neo Nazis

654
00:40:00,280 --> 00:40:05,279
Speaker 1: to show up. But people are recognizing opportunities and things

655
00:40:05,280 --> 00:40:08,520
Speaker 1: are getting even crazier. You're going to see some circulation

656
00:40:08,640 --> 00:40:13,120
Speaker 1: of anti Semitic conspiracy theories, the old stuff you know

657
00:40:13,239 --> 00:40:17,439
Speaker 1: that keeps coming back around throughout history. Uh. And some

658
00:40:17,480 --> 00:40:19,719
Speaker 1: people are just trolling. I guess, you know, in like

659
00:40:19,719 --> 00:40:22,960
Speaker 1: a four Chan level way. Other people are spreading what

660
00:40:23,160 --> 00:40:27,920
Speaker 1: I assumed to be their sincere incredibly misguided ideologies. And

661
00:40:27,960 --> 00:40:31,240
Speaker 1: then this is the thing we have to remember. We're

662
00:40:31,239 --> 00:40:35,960
Speaker 1: talking about the Internet. Anybody can make a Reddit account,

663
00:40:36,360 --> 00:40:40,480
Speaker 1: anybody can log into any number of forums and they

664
00:40:40,480 --> 00:40:43,000
Speaker 1: can say there whomever they want to say they are.

665
00:40:43,320 --> 00:40:46,520
Speaker 1: But that doesn't mean that's their real identity. It's it's

666
00:40:46,640 --> 00:40:50,160
Speaker 1: quite possible, I would say even likely that there are

667
00:40:50,440 --> 00:40:54,400
Speaker 1: professional traders involved. We were talking about this before we

668
00:40:54,480 --> 00:40:57,160
Speaker 1: went on air, But if you go into these forums,

669
00:40:57,239 --> 00:41:00,680
Speaker 1: you will see a lot of a lot of bots.

670
00:41:00,719 --> 00:41:03,120
Speaker 1: You'll also see a lot of people who are trying

671
00:41:03,160 --> 00:41:06,440
Speaker 1: to push a certain stock, like saying, hey, you know

672
00:41:06,480 --> 00:41:10,960
Speaker 1: what the real big thing is? Silver? Right nol? I think, um,

673
00:41:11,880 --> 00:41:13,920
Speaker 1: you you know, maybe you met I don't know. If

674
00:41:13,920 --> 00:41:16,759
Speaker 1: we talked about this, probably had some folks talking about

675
00:41:16,760 --> 00:41:19,560
Speaker 1: silver to us. Is that correct? Yeah? Yeah, I wanted

676
00:41:19,640 --> 00:41:21,799
Speaker 1: up to mention just a buddy of mine. We were

677
00:41:21,800 --> 00:41:24,560
Speaker 1: talking off air before we went on about this concept

678
00:41:24,600 --> 00:41:27,640
Speaker 1: of cryptocurrency and how it's reacting to all of this

679
00:41:28,239 --> 00:41:31,200
Speaker 1: hoop la um, and a buddy of mine yesterday I

680
00:41:31,200 --> 00:41:33,440
Speaker 1: was talking about how he just invested a little bit

681
00:41:33,480 --> 00:41:36,520
Speaker 1: of money in something called doge coin, which is just

682
00:41:36,600 --> 00:41:40,560
Speaker 1: another of these many different varieties of cryptocurrency, like what

683
00:41:40,680 --> 00:41:42,920
Speaker 1: is it ethereum that I make that one up? Something

684
00:41:42,960 --> 00:41:46,280
Speaker 1: like that. Obviously obviously the big one Bitcoin, but Bitcoin

685
00:41:46,400 --> 00:41:49,520
Speaker 1: is so expensive that there's it's really hard to buy

686
00:41:49,560 --> 00:41:51,960
Speaker 1: into now unless you've been you know, in it from

687
00:41:52,080 --> 00:41:55,080
Speaker 1: from the ground up. Uh. And this is um my

688
00:41:55,080 --> 00:41:57,000
Speaker 1: my buddies rationale, and I think it really holds tru

689
00:41:57,239 --> 00:41:59,360
Speaker 1: and it kicks into the silver thing, which thinks it

690
00:41:59,560 --> 00:42:01,520
Speaker 1: is a great used to go. He says platforms like

691
00:42:01,600 --> 00:42:04,800
Speaker 1: robin Hood, restricted trades of stock like game stop and AMC,

692
00:42:05,239 --> 00:42:09,080
Speaker 1: and the real short sell Extravaganza Silver. The metal hasn't

693
00:42:09,120 --> 00:42:11,960
Speaker 1: kicked off yet and may never, so lots of fired

694
00:42:12,040 --> 00:42:16,280
Speaker 1: up retail or day traders investors are ready to trade something.

695
00:42:16,560 --> 00:42:19,439
Speaker 1: Bitcoin is too intimidating because the price in is now

696
00:42:19,560 --> 00:42:22,239
Speaker 1: around thirty k. None of the other coins have any

697
00:42:22,280 --> 00:42:25,640
Speaker 1: sway with the general public except does coin, which opened

698
00:42:26,040 --> 00:42:29,319
Speaker 1: yesterday as we record this, at less than one cent

699
00:42:29,400 --> 00:42:32,280
Speaker 1: per share. When I got locked out of game Stop,

700
00:42:32,320 --> 00:42:34,560
Speaker 1: I looked at the cryptos that had the most activity

701
00:42:34,840 --> 00:42:37,200
Speaker 1: does was ahead by a country mile and already up

702
00:42:37,239 --> 00:42:39,319
Speaker 1: past point oh two, which is when I bought in.

703
00:42:39,719 --> 00:42:42,480
Speaker 1: The creeps on Reddit are targeting a dollar, which would

704
00:42:42,560 --> 00:42:48,120
Speaker 1: leave me more than debt free before student debt um. Yeah,

705
00:42:48,320 --> 00:42:52,719
Speaker 1: so it's it's it's an interesting, uh the way the

706
00:42:52,760 --> 00:42:56,360
Speaker 1: cryptocurrency market is reacting to this, because it's just another

707
00:42:56,440 --> 00:42:58,920
Speaker 1: market that can then be thrown into the mix to

708
00:42:59,040 --> 00:43:01,200
Speaker 1: kind of off lay some of these burdens, you know,

709
00:43:01,400 --> 00:43:04,839
Speaker 1: for these traders. But it causes a lot of action, right, Yeah,

710
00:43:04,960 --> 00:43:08,439
Speaker 1: that's one of the big that's one of the big

711
00:43:08,480 --> 00:43:11,600
Speaker 1: possibilities in the future. Is this going to lead to

712
00:43:12,560 --> 00:43:16,880
Speaker 1: even more mainstreaming of cryptocurrency? And there are tons of

713
00:43:16,920 --> 00:43:20,799
Speaker 1: cryptocurrencies out there. Uh, let us know which one is

714
00:43:20,840 --> 00:43:26,560
Speaker 1: your favorite and why? Uh short sellers. According to the

715
00:43:27,239 --> 00:43:31,920
Speaker 1: Retail Investors, short sellers were attempting to save themselves by

716
00:43:31,960 --> 00:43:37,200
Speaker 1: engaging in something called a short ladder attack. A short

717
00:43:37,280 --> 00:43:40,359
Speaker 1: ladder attack is just putting in lower and lower bid

718
00:43:40,480 --> 00:43:45,360
Speaker 1: prices between yourselves. So there's not really a lot of

719
00:43:45,440 --> 00:43:48,640
Speaker 1: volume on this trade, but it's it's a camouflage thing.

720
00:43:48,760 --> 00:43:51,840
Speaker 1: It's an illusory move because now it looks like the

721
00:43:51,880 --> 00:43:54,719
Speaker 1: stock is plummeting because a bunch of people appear to

722
00:43:54,760 --> 00:43:59,520
Speaker 1: be trading at lower and lower prices quite clever, quite clever. Uh.

723
00:43:59,680 --> 00:44:04,319
Speaker 1: And so this means that not everybody might be the

724
00:44:04,440 --> 00:44:08,959
Speaker 1: retail investor they purport to be. It's possible that other

725
00:44:09,080 --> 00:44:13,000
Speaker 1: factions Wall Street are involved. Wall Street maybe eating it.

726
00:44:13,120 --> 00:44:20,040
Speaker 1: So oh uh okay, okay, just full disclosure here. Uh.

727
00:44:20,239 --> 00:44:24,200
Speaker 1: Ben gave me a gift at at some point in

728
00:44:24,280 --> 00:44:28,080
Speaker 1: our past, and when I remembered it, I was thinking

729
00:44:28,120 --> 00:44:29,759
Speaker 1: about it when I was watching all of this going

730
00:44:29,760 --> 00:44:31,120
Speaker 1: down in the news, and I just want to share

731
00:44:31,160 --> 00:44:34,520
Speaker 1: with everybody in case you may be interested if you

732
00:44:34,600 --> 00:44:39,000
Speaker 1: like graphic novels. Were not sponsored by this this uh,

733
00:44:39,160 --> 00:44:42,799
Speaker 1: these writers or the artists or image comics, but if

734
00:44:42,840 --> 00:44:45,200
Speaker 1: you're interested in graphic novels, there's a thing called the

735
00:44:45,200 --> 00:44:49,240
Speaker 1: Black Monday Murders. Highly highly recommend. This is volume two,

736
00:44:49,280 --> 00:44:53,520
Speaker 1: by the way, but it's about the stock market and

737
00:44:53,640 --> 00:45:01,920
Speaker 1: the truth behind uh like Black Monday, uh and what

738
00:45:02,040 --> 00:45:04,879
Speaker 1: happened you know in two thousand eight. Anyway, it's really

739
00:45:04,920 --> 00:45:09,080
Speaker 1: interesting stuff. Highly recommend. And no, don't feel left out, man,

740
00:45:09,120 --> 00:45:12,120
Speaker 1: because spoiler alert, that's that's the gift. I got you too,

741
00:45:12,440 --> 00:45:17,600
Speaker 1: so surprised. Oh my god, that's awesome. I was I

742
00:45:17,719 --> 00:45:20,319
Speaker 1: was watching your expression. I don't want you to feel

743
00:45:20,400 --> 00:45:22,800
Speaker 1: left up. Oh no, idea, it wasn't. It wasn't an expression.

744
00:45:23,160 --> 00:45:25,480
Speaker 1: Thank you very much that as you said to the office.

745
00:45:26,840 --> 00:45:29,320
Speaker 1: I think. So it's either it's either at the office

746
00:45:29,360 --> 00:45:31,279
Speaker 1: of my you know what, you know what. I feel

747
00:45:31,280 --> 00:45:33,879
Speaker 1: like I'm almost a short seller. It will be there

748
00:45:34,000 --> 00:45:39,680
Speaker 1: by Monday, my friends. So yeah, Black Monday Murders. It's

749
00:45:40,520 --> 00:45:42,560
Speaker 1: it's a wild read. I love it. I do have

750
00:45:42,640 --> 00:45:46,400
Speaker 1: to warn everybody that that, like this story, Black Monday Murders,

751
00:45:46,520 --> 00:45:49,680
Speaker 1: is not yet complete. So creators of that, if you

752
00:45:49,719 --> 00:45:54,920
Speaker 1: are listening, Jonathan Hickman, let's go yes please. Uh. And

753
00:45:55,120 --> 00:45:58,600
Speaker 1: while we're waiting for that story to conclude, let's look

754
00:45:58,680 --> 00:46:03,560
Speaker 1: at some of the update for this, uh, this current saga.

755
00:46:04,120 --> 00:46:10,120
Speaker 1: There is a okay there, wow, jeez, it's ping ponging. Uh.

756
00:46:10,280 --> 00:46:14,080
Speaker 1: There is a class action lawsuit of foot yes, uh,

757
00:46:14,200 --> 00:46:17,040
Speaker 1: and and it's it would seem there's a pretty good

758
00:46:17,080 --> 00:46:20,160
Speaker 1: case to be made because, as we mentioned earlier, Robin

759
00:46:20,239 --> 00:46:22,759
Speaker 1: Hood has this business model where, like you said, Ben,

760
00:46:22,840 --> 00:46:25,319
Speaker 1: if you're getting something for free, look no further than

761
00:46:25,400 --> 00:46:28,440
Speaker 1: yourself to see where the where the product is coming from. Um.

762
00:46:28,680 --> 00:46:31,520
Speaker 1: And the way that robin Hood is situated where they're

763
00:46:31,600 --> 00:46:35,520
Speaker 1: essentially giving like a first look at these trades to

764
00:46:35,719 --> 00:46:38,759
Speaker 1: a third party that I'm sure somewhere in the terms

765
00:46:38,960 --> 00:46:44,000
Speaker 1: is acknowledged, but it does seem like a little bit sketchy. Uh.

766
00:46:44,080 --> 00:46:46,480
Speaker 1: And then this third party is it was directly affected

767
00:46:46,560 --> 00:46:50,240
Speaker 1: by this uh this run on you know, short selling

768
00:46:50,760 --> 00:46:53,560
Speaker 1: or this short squeeze. Um. So the case to be

769
00:46:53,680 --> 00:47:00,200
Speaker 1: made is that they misled uh investors, they misled their

770
00:47:00,520 --> 00:47:04,239
Speaker 1: user base, their customer base. Um. And there's also a

771
00:47:04,360 --> 00:47:06,960
Speaker 1: question of whether or not Citadel actually like pulled the

772
00:47:07,040 --> 00:47:10,120
Speaker 1: trigger on those actions. Right. That's right. There's even a

773
00:47:10,239 --> 00:47:12,800
Speaker 1: rumor that there was a call from the White House

774
00:47:13,120 --> 00:47:17,120
Speaker 1: and said, hey, stop letting people mess with game. Stop

775
00:47:17,360 --> 00:47:19,799
Speaker 1: stop letting people mess with the money. You know, that's

776
00:47:19,800 --> 00:47:25,200
Speaker 1: another unwritten American law. Uh. So, so Citadel comes out

777
00:47:25,960 --> 00:47:30,040
Speaker 1: very recently and denies any involvement with this. They say, quote,

778
00:47:30,239 --> 00:47:34,800
Speaker 1: Citadel is not involved in responsible for any retail broker's

779
00:47:34,880 --> 00:47:39,359
Speaker 1: decision to stop trading in any way. That's pretty explicit, right,

780
00:47:39,440 --> 00:47:43,680
Speaker 1: there's not a there's not much weasel language in there. Uh.

781
00:47:43,920 --> 00:47:47,840
Speaker 1: This lawsuit is directly in response to the restrictions that

782
00:47:47,880 --> 00:47:50,480
Speaker 1: were placed on game Stop. It was filed in the

783
00:47:50,640 --> 00:47:54,640
Speaker 1: Southern District of New York, claiming that Robin Hood was

784
00:47:55,040 --> 00:47:59,239
Speaker 1: rigging the market against its customers. You can see the

785
00:47:59,320 --> 00:48:03,360
Speaker 1: language of the lawsuit. You can see the website of

786
00:48:03,680 --> 00:48:07,640
Speaker 1: one law firm that's been engaged here, Chapman Alban lll

787
00:48:07,719 --> 00:48:11,800
Speaker 1: C out of Cleveland. UH. They specialize in investments and

788
00:48:11,880 --> 00:48:15,240
Speaker 1: financial fraud. And if you go to their website today

789
00:48:15,560 --> 00:48:18,320
Speaker 1: you'll see, uh, you'll see this message on the homepage

790
00:48:18,440 --> 00:48:22,920
Speaker 1: that says, like who's got a good lawyer voice? You know,

791
00:48:23,120 --> 00:48:25,560
Speaker 1: like a good good I want like a good ambulance

792
00:48:25,640 --> 00:48:30,120
Speaker 1: Chasey lawyer voice? Like, uh, are you Robin what us?

793
00:48:30,480 --> 00:48:34,120
Speaker 1: What suffered losses? Dial blow blah blah blah blah blah blah.

794
00:48:34,480 --> 00:48:38,040
Speaker 1: You put in your information on this website. And so far,

795
00:48:38,160 --> 00:48:41,799
Speaker 1: more than six thousand people have signed up, Yes, six

796
00:48:41,840 --> 00:48:45,080
Speaker 1: thousand people, and I'm sure that will grow as well

797
00:48:45,160 --> 00:48:48,000
Speaker 1: as others that are attempting to pile on on the

798
00:48:48,880 --> 00:48:52,440
Speaker 1: On the subreddit Wall Street Bets, there are numerous posts

799
00:48:52,680 --> 00:48:55,680
Speaker 1: right at the top right now having to do with

800
00:48:55,800 --> 00:48:59,240
Speaker 1: exactly that how to essentially jump onto a class action lawsuit.

801
00:48:59,719 --> 00:49:04,200
Speaker 1: And it's now we're getting close to the horizon, right,

802
00:49:04,280 --> 00:49:05,920
Speaker 1: We're in the we're in the present moment on the

803
00:49:06,000 --> 00:49:08,840
Speaker 1: precipice of the future, and you're probably wondering some of

804
00:49:08,920 --> 00:49:14,000
Speaker 1: the same things we are, namely what happens next. It's

805
00:49:14,280 --> 00:49:18,080
Speaker 1: tough to say, because, as we've established earlier, in some

806
00:49:18,360 --> 00:49:22,200
Speaker 1: cases there's a pretty good argument to be made that

807
00:49:22,480 --> 00:49:25,800
Speaker 1: crime and consequences can be seen as a cost of

808
00:49:25,880 --> 00:49:30,359
Speaker 1: doing business after a certain threshold of profit. Oh yeah,

809
00:49:30,440 --> 00:49:32,920
Speaker 1: we've hit on that way too many times over the

810
00:49:33,000 --> 00:49:38,080
Speaker 1: years here where it's just way, way, way, way too

811
00:49:38,160 --> 00:49:41,799
Speaker 1: profitable to make money in a slightly wrong way if

812
00:49:41,840 --> 00:49:45,560
Speaker 1: it's just a slap of the wrist for for like

813
00:49:45,800 --> 00:49:48,160
Speaker 1: two percent of what you made. But here's the thing,

814
00:49:48,440 --> 00:49:50,080
Speaker 1: you could end up being a lot more expensive to

815
00:49:50,120 --> 00:49:53,160
Speaker 1: actually follow the law and pay for the short selling

816
00:49:53,360 --> 00:49:56,680
Speaker 1: when that bill comes due. Right, think of it this way. Okay,

817
00:49:57,400 --> 00:50:03,120
Speaker 1: let's say you're driving somewhere. Um let's say like, uh, no,

818
00:50:03,400 --> 00:50:05,080
Speaker 1: you're driving. We're all in the car. We're on a

819
00:50:05,200 --> 00:50:08,799
Speaker 1: road trip, and we if we don't get to our

820
00:50:08,880 --> 00:50:11,600
Speaker 1: destination by like five pm, we have to pay a

821
00:50:11,680 --> 00:50:14,560
Speaker 1: thousand dollars, and we know that if we go the

822
00:50:14,640 --> 00:50:17,360
Speaker 1: speed limit, there's no way we're gonna make our destination

823
00:50:17,440 --> 00:50:21,120
Speaker 1: by five pm. Let's say, let's say we put the

824
00:50:21,200 --> 00:50:24,680
Speaker 1: gas on, we break the law, and we speed fast

825
00:50:24,840 --> 00:50:28,600
Speaker 1: enough that we can get there by four fifty seven.

826
00:50:29,120 --> 00:50:31,240
Speaker 1: Even if we get stopped and we get a ticket

827
00:50:31,320 --> 00:50:36,080
Speaker 1: for speeding. Our ticket is a hundred dollars, but we

828
00:50:36,200 --> 00:50:39,760
Speaker 1: got there before five, so we really saved nine hundred dollars.

829
00:50:40,080 --> 00:50:44,080
Speaker 1: And the best part, no one goes to jail ever. Sweep.

830
00:50:46,800 --> 00:50:49,040
Speaker 1: That's that's that's where at there's if there is one

831
00:50:49,120 --> 00:50:53,000
Speaker 1: unwritten law that all Americans, at least all all the

832
00:50:53,040 --> 00:50:56,000
Speaker 1: people in the US are expected to know and follow,

833
00:50:56,440 --> 00:51:00,520
Speaker 1: it's this don't mess with the money. So what happens

834
00:51:01,320 --> 00:51:06,879
Speaker 1: when people invade the casino messing with the money. There's

835
00:51:06,880 --> 00:51:10,640
Speaker 1: actually a really good line from from this show The Boys,

836
00:51:10,719 --> 00:51:12,959
Speaker 1: I think you both have watched as well, a great

837
00:51:13,000 --> 00:51:17,080
Speaker 1: comics series from Garth Ennis, and it's don't quit the money.

838
00:51:18,080 --> 00:51:22,960
Speaker 1: You never put the money exactly. And at this point

839
00:51:23,040 --> 00:51:25,719
Speaker 1: we want to thank everybody who reached out to us

840
00:51:25,800 --> 00:51:29,920
Speaker 1: as a group, as individuals. As we said at the top, this.

841
00:51:30,360 --> 00:51:34,880
Speaker 1: There's still so much in play right now. The situation is,

842
00:51:35,640 --> 00:51:39,000
Speaker 1: what's the diplomatic way to say it, fluid right, Uh,

843
00:51:39,200 --> 00:51:42,879
Speaker 1: And we're not quite sure what will happen, but we've

844
00:51:42,960 --> 00:51:48,080
Speaker 1: seen a nest of conspiracies, and you know, there's there's

845
00:51:48,120 --> 00:51:50,279
Speaker 1: also a pretty good argument to be made that the

846
00:51:50,400 --> 00:51:54,439
Speaker 1: stock market itself is a series of conspiracies. You're conspiring

847
00:51:54,800 --> 00:51:58,480
Speaker 1: to make money selling and and trading things and to

848
00:51:58,920 --> 00:52:03,399
Speaker 1: um to the early your point made today, Uh, how

849
00:52:03,680 --> 00:52:09,960
Speaker 1: closely associated is this with actual assets actual value? You know?

850
00:52:10,680 --> 00:52:14,279
Speaker 1: Mm hm. And we really need to think about the

851
00:52:14,400 --> 00:52:17,920
Speaker 1: apps that we use to access things into, you know,

852
00:52:18,080 --> 00:52:21,120
Speaker 1: make financial transactions on, and even with the best of

853
00:52:21,160 --> 00:52:24,920
Speaker 1: intentions or the best slogans or the best ideological framing

854
00:52:25,000 --> 00:52:28,600
Speaker 1: for an app, we've learned now that it doesn't necessarily

855
00:52:28,640 --> 00:52:31,880
Speaker 1: mean that's what's actually represented by the way. Did we

856
00:52:31,920 --> 00:52:35,719
Speaker 1: already mentioned that site? Is the Squeeze schools dot com

857
00:52:36,160 --> 00:52:39,040
Speaker 1: that Paul told us about. I think you said it

858
00:52:39,120 --> 00:52:42,960
Speaker 1: at the very beginning, but what Okay, Well, I don't

859
00:52:43,000 --> 00:52:48,280
Speaker 1: know exactly what the site is. It's from in flamati

860
00:52:49,040 --> 00:52:54,960
Speaker 1: inflammata o mia inflammataoia. I don't know what that is.

861
00:52:55,320 --> 00:52:58,000
Speaker 1: But anyway, it's it's just a quick little site here,

862
00:52:58,120 --> 00:53:00,400
Speaker 1: and it lets you know whether or not the squeeze

863
00:53:00,440 --> 00:53:03,400
Speaker 1: has been squows and currently it has not been squows.

864
00:53:04,480 --> 00:53:07,480
Speaker 1: And we have no idea who is creating the site,

865
00:53:07,520 --> 00:53:10,040
Speaker 1: whether or not it's accurate. It's just very fun to

866
00:53:10,200 --> 00:53:13,000
Speaker 1: go there and to say that phrase. And I guess

867
00:53:13,120 --> 00:53:16,840
Speaker 1: just just to be safe, Uh, lest anybody assume otherwise.

868
00:53:17,600 --> 00:53:19,680
Speaker 1: None of what we have said is in any way

869
00:53:19,920 --> 00:53:25,000
Speaker 1: financial advice. No, none of it. But we we do

870
00:53:25,200 --> 00:53:28,880
Speaker 1: think it's fascinating. We hope that you agree, and we'd

871
00:53:29,239 --> 00:53:31,839
Speaker 1: we'd love to hear your thoughts. We try to make

872
00:53:31,880 --> 00:53:34,399
Speaker 1: it easy to find us online. Yes, you can find

873
00:53:34,440 --> 00:53:37,160
Speaker 1: us on Twitter and Facebook where we are Conspiracy Stuff.

874
00:53:37,280 --> 00:53:41,520
Speaker 1: On Instagram we are Conspiracy Stuff Show. You can find

875
00:53:41,680 --> 00:53:45,000
Speaker 1: us on the Facebook group. Here's where it gets crazy.

876
00:53:45,440 --> 00:53:48,160
Speaker 1: You can meet up with all of the conspiracy realists

877
00:53:48,239 --> 00:53:50,359
Speaker 1: that are hearing this right now, as well as us

878
00:53:50,520 --> 00:53:53,400
Speaker 1: and some of the greatest mods in history on the

879
00:53:53,719 --> 00:53:57,160
Speaker 1: yield Facebook groups. Um, if you don't want to do

880
00:53:57,320 --> 00:53:59,839
Speaker 1: that stuff, we have a phone number where you can

881
00:54:00,120 --> 00:54:02,759
Speaker 1: hus it's right. You can call one three three s

882
00:54:02,800 --> 00:54:05,200
Speaker 1: T D W y t K. You will have three

883
00:54:05,280 --> 00:54:09,800
Speaker 1: minutes to leave a message, a story, admissive transmission, what

884
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Speaker 1: have you. Try to keep it within those three minutes.

885
00:54:11,680 --> 00:54:14,880
Speaker 1: We've been getting slammed lately with messages and and the

886
00:54:15,000 --> 00:54:17,480
Speaker 1: closer you keep to that three, the more likely you

887
00:54:17,600 --> 00:54:20,520
Speaker 1: are to get on one of our weekly listener Maile episodes.

888
00:54:20,920 --> 00:54:23,160
Speaker 1: You can also find us on YouTube dot com slash

889
00:54:23,239 --> 00:54:27,359
Speaker 1: conspiracy Stuff. Should you feel so moved, you can drop

890
00:54:27,440 --> 00:54:31,160
Speaker 1: by your pod scraper of choice and leave us a review.

891
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Speaker 1: It makes difference. We greatly appreciate it. And if none

892
00:54:35,080 --> 00:54:37,800
Speaker 1: of that quite shorts your stock, there's one way you

893
00:54:37,920 --> 00:54:41,280
Speaker 1: can always contact us. That's our good old fashioned email address.

894
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Speaker 1: Where we are conspiracy at i heart radio dot com.

895
00:55:00,080 --> 00:55:05,640
Speaker 1: Yeah Stuff they Don't want you to Know is a

896
00:55:05,680 --> 00:55:08,680
Speaker 1: production of I heart Radio. For more podcasts from my

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898
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