Gary North notes that GameStop Buyers Lost Their Shirts This Week, Just as I Predicted Last Saturday
The news stories were driven by envy. Supposedly, the Internet has changed the nature of investing. Supposedly, average people who have little money to invest are now able to bankrupt hedge funds that have shorted a specific stock. There was a new age coming. The common man was going to get revenge — not rich. Revenge.
It was all bunk. The common man who didn’t know what he was doing and who bought the shares because he thought he could get rich at the expense of hedge fund managers is now a big loser. There are thousands of them.
They were suckers. They believed they could get rich quick. They believed that a group of anonymous investors on Reddit could make them rich. This would be the New World Order for the common man.
Once again, the New World Order has been delayed.
This is indeed true, at least as far as I can see.
When to Speak
There is nothing for those who bought in late…
…but I am interested in those who bought in early, and got the ball rolling. The men who lead the effort did manage to get rich, and put the squeeze on a minor hedge fund by talking incessantly to drive the market to their goals. Not bad, but minor league as these things do.
I m rather interested in someone like Soros, who got rich while breaking the Bank of England.
There should be a way to financially prosper while betting on the bust-up of the debt-ridden secularist welfare states. The problem is the timing, and in knowing what to look for… both when to pile in, and when to vanish from the field.
When to be Silent
I wonder if that someone will try to make it a political movement, to get more popular support and financial backing, or keep his work under wraps.
Probably the latter: the masses hate rich people, but they love their political masters… when they give them a regular supply of welfare treats.
Someone who publicly threatens the public supply of treats will be crushed, if they get wind of it.
And someone who prospers while the welfare state dies (and the masses lose access to their yummy stolen goods) has a good chance of being outright murdered.
To the cheers of the crowd.
“A word to the wise is sufficient.”