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11/21/2024 - David was a man of war; Solomon was a man of peace. David was allowed to make preparations for the... Read More
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The latest “Jericho March” (January 21-27) is now completed. So what happened?
First, here is a report from Sandra and James, who received the revelation to do this Jericho March. They are friends from Canada that I have known since 1991.
The big news on Wall Street is how the big hedge funds lost billions of dollars when they shorted Gamestop. The “little guys” at WallStreetBets beat them at their own game, buying up Gamestop shares, driving up the price, and causing Melvin Capital to lose billions.
Wall Street has fought back by banning purchases of Gamestop shares and allowing only selling to take place. Wall Street is now exposed. Not only are they caught with their pants down, they are also eating their shorts.
In a process known as a "short squeeze," short sellers were forced to buy back stock, bailing out on their gamble before prices rose too much. In Melvin Capital's case, it has sold out of GameStop completely as of January 27. However, previous speculations that the firm would file for bankruptcy are apparently not true. Other hedge funds could find themselves in similar trouble soon. According to Reuters, losses from short positions have topped $70 billion. More than 5,000 firms had losses from shorts as of Wednesday.
The Dow Jones is down overall, possibly as a result of this, with investors having to move around money in order to cover the short bets they had on GameStop.
In another article, we read:
Ever since the Federal Reserve was created in 1913, the game has been rigged against the average person. For years, Wall Street has been manipulating the market to keep ordinary people from “making too much money” while the 1 percent swim in huge gains. They don’t want a truly free market to trade, they want it to be one-sided to benefit them. When it comes to giving a middle finger to the establishment, nobody does it better than Bitcoiners and r/wallstreetbets.
We’re not just making money, it’s about so much more than that. We’re making history.
The subreddit has been making news this week as a hub for retail investors who figured out that Melvin Capital and other hedge funds were short selling shares of GameStop ($GME), essentially betting that the company would fail. Members of r/wallstreetbets bought the stock in high quantities, causing a snowball effect which forced the shorters to chase after the price and buy back at a higher mark to try and cut their losses, pushing the price higher and higher. This is called a “short squeeze.”
Watching Wall Street suits crying because they got outplayed at their own game by a bunch of “dumb” people on the internet has been glorious to watch.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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