When, “Robinhood” turns out to be the “Sheriff of Nottingham”


Re-Posted from GrrrGraphics.com JAN 29, 2021 AT 10:02 AM

New Tina Toon

Robinhood was designed to appeal to the millennial generation of stock traders. With its slick design, commission free trades, and trendy catchphrases, (Let the people trade), Robinhood claimed it was all about ‘democratizing finance’ by making it simple.

Unfortunately, when it came to their own customers buying the heavily-shorted company GameStop, Robinhood decided to start stealing from the poor and giving it to the rich.’ The rich hedge funds, that is.

Citadel has a close financial relationship with Robinhood as well as a large stake in Melvin Capital, a hedge fund that massively shorted GameStop, with disastrous results. The millennials didn’t like the thought of their game store being driven out of business by ruthless hedge funds and they fought back by buying GameStop stock. So much so, that the hedge funds began to lose billions of dollars. This could not be tolerated by those who think they control the market and they were backed up by an angry and shrill CNBC, who railed against the young Reddit whippersnappers who upset their money-making applecart.

On Thursday, Robinhood and other brokerages began blocking buys of GameStop, and it plummeted from nearly $500 to nearly $100 in a matter of minutes. This what happens when one can only sell a stock—not buy it.

Citadel denied leaning on Robinhood to skew the playing field in favor of their hurting hedge funds, but it looked mighty suspicious. Many traders on Robinhood were outraged by the blatant market manipulation of the company and many are leaving the platform in droves. Robinhood once bragged about democratizing finance, but when push came to shove, Robinhood chose the hedge funds over its own customers.

Robinhood claims to give a voice to the voiceless, except when they disagree with what those voices say. Then they silence those voices. Robinhood stated they will allow normal trading on Gamestop today, but the damage has been done. Robinhood has been exposed. They serve the interests of the mega-rich, who are not allowed to lose. Hedge funds got to trade GameStop but not Robinhood’s own customers. When that happened we knew there were no free markets. Rules are for the little people, who usually lose. The mega-billionaires get to change the rules as they go along to benefit themselves. They are not afraid of the regulators since they are already interwoven with the corruption at the top.

If they can rig the markets, they can rig the elections, the courts, the state legislatures, the media, the science, and so on.

Every lie is being revealed.

We should all condemn the actions of Robinhood, but more importantly….some of these big shots need to go to prison for the stunt they pulled on Thursday.

—The GrrrTeam

Congress is Deeply Divided & it’s Not Repairable


Armstrong Economics Blog/Politics Re-Posted Jan 30, 2021 by Martin Armstrong

Rep. Alexandria Ocasio-Cortez (D-N.Y.) is refusing to work with GOP Sen. Ted Cruz of Texas after he tweeted a signal that the two of them could work together on a congressional probe into GameStop’s recent stock trading. She responded: “I am happy to work with Republicans on this issue where there’s common ground, but you almost had me murdered 3 weeks ago so you can sit this one out.”

All my sources say the divide is so great that it is not likely to be mended at least into 2024.

Forget unity. Forget bipartisanship. Biden is signing executive order after order, denying Congress the right to vote on any issue. I believe NO PRESIDENT should have the power to simply write an executive order. We are supposed to be represented by these people. Right now, Biden is taking the same approach as Boris Johnson in the UK, who does not allow voting on his decrees and refuses to even listen to anyone else.

Archie Bunker on Politics


Armstrong Economics Blog/Politics Re-Posted Jan 30, 2021 by Martin Armstrong

Canada & The Canceling of its Currency


Armstrong Economics Blog/Canada Re-Posted Jan 29, 2021 by Martin Armstrong

QUESTION #1: If Canada is not a dictatorship, how can Trudeau cancel the dollar? How can he do so in secret?

RW

QUESTION #2: Why can’t Biden follow Trudeau and cancel the dollar?

EH

ANSWER: The answer lies in the difference in history.  Because the paper currency called bills-of-credit back then became worthless, the Framers of the Constitution expressly took into account currency. I have written before that when I was a market-maker in gold and one of the three largest in the country, the IRS walked in and declared me to be a bank and then I was supposed to report everyone who bought or sold gold in $10,000 amounts or more. They cited the Constitution saying that gold and silver were money thereby making me a bank because Nixon only closed the gold window, he never DEMONITIZED gold. So I was suddenly a bank in no need of such a license for the purposes of the IRS. Hence, I retired.

This raises an interesting question. Can Congress create a digital dollar constitutionally?The question of money was thus settled directly in the Constitution because each state had previously issued its own coinage and paper bills-of-credit (paper money).

Article 1 – The Legislative Branch
Section 10 – Powers Prohibited of States
<<Back | Table of Contents | Next>>

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

No State shall, without the Consent of the Congress, lay any Imposts or Duties on Imports or Exports, except what may be absolutely necessary for executing it’s inspection Laws: and the net Produce of all Duties and Imposts, laid by any State on Imports or Exports, shall be for the Use of the Treasury of the United States; and all such Laws shall be subject to the Revision and Controul of the Congress.

No State shall, without the Consent of Congress, lay any duty of Tonnage, keep Troops, or Ships of War in time of Peace, enter into any Agreement or Compact with another State, or with a foreign Power, or engage in War, unless actually invaded, or in such imminent Danger as will not admit of delay.

Under the Articles of Confederation, both the federal and state governments were guilty of issuing limitless bills of credit to finance the Revolutionary War. This led to hyperinflation. In response to this Revolutionary history, Article I, Section 10 of the Constitution expressly prohibits the states from issuing bills-of-credit. With respect to Congress’s power, however, the issue is not as clear. At the Constitutional Convention, it was proposed to give the federal government the power to “emit bills on the credit of the United States,” but the Framers defeated this language as being too prone to abuse.

Consequently, the Constitution’s monetary clauses expressly grant Congress the power to coin money and to borrow money by issuing “notes” meaning interest-bearing government bonds. Nonetheless, Congress did not have the power to issue bills-of-credit. Given the Framers’ general hostility to paper money, it seems likely that the Framers’ intended to prohibit the federal government from issuing any bills-of-credit (paper money) whatsoever as was the case concerning the states.

Without question, the Constitution created a government of enumerated powers meaning that without an express grant of an expressed power, Congress thereby lacks the power to act. Therefore, it was clearly understood at the time of drafting the Constitution that striking the language to grant such a power amounted to a prohibition on Congress’s power to issue paper money.

I will do a report on the whole constitutional problem presented. Canada has a different history. The US expressly went through hyperinflation so the Framers dealt expressly with the power to issue money. That does not exist in Canada. Nonetheless, Trudeau canceled all the currency and it is no longer a LEGAL TENDER as of January 1sy, 2021. However, this is only phase #1. The currency is NOT worthless. You can still deposit it and present it to the Bank of Canada for credit to your account.

We will be issuing the 2021 report on Canada. It will be available on Monday.

Tucker Carlson and Dave Portnoy Outlines the Reddit vs Wall Street Market Manipulation


Posted originally on The Conservative Tree House on January 29, 2021 by Sundance

Last night Tucker Carlson and Dave Portnoy discussed the merge between Wall Street and Big Tech to protect the hedgefunds from ‘We The People’.  Good outline:

It started with a bunch of smart ordinary Wall Street market watchers assembling on Reddit and noticing that hedgefunds were making millions destroying the stock value of GameStop (GME) -and others-  by short selling the stock and trading the position.

[Short Lesson to Understand Short-Selling Here]

The hedgefunds were so greedy the short-sellers borrowed more than 140% of the total number of shares of stock of GME (GameStop) in order to destroy it. The stock value dropped from $20 to $4 as the sharks made millions in the short-sells. That’s when the Reddit investment community,Wall Street Bets, noticed an opportunity.

One of the issues with short-selling is that short-sellers must always eventually purchase the stocks they borrowed.  That means if the stock value increases you are committed to buying it, you will lose money, and you cannot get away from the loss in your short-sell position so long as the stock value is high.

Knowing the borrowed shares were more than the total number of outstanding shares of the entire GME stock, the rebellious alliance knew the short-sellers (hedgefunds) would have to eventually buy them.  So the independent group, mass numbers of individual investors, started purchasing shares and driving up the GameStop stock value.

The GME stock skyrocketed and the short-sellers (hedgefunds on Wall Street) were freaking out.  The higher the stock went, the more it was going to cost the hedgefunds to get out of their short position.  Billions were being wiped out as the pesky rebel alliance kept purchasing shares and driving up the value.  [Go Deep] That’s when the biggest eye-opening series of events in financial history took place….

♦ First Big Tech jumped-in to protect the hedgefunds.  The servers that handled Reddit’s investor discussion “WallStreetBets” were shut down, essentially trying to break down the communication of the rebel alliance.  They used the oft-familiar “hate speech” justification, but that was really a ruse… Big Tech was supporting Wall Street.

♦ Then the New York Stock exchange stepped-in to protect the hedgefunds by blocking trades of GameStop and other Reddit targeted stocks (Nokia, Blackberry, AMC theaters).  Ameritrade also blocked any trades.  The NYSE was essentially trying to protect the institutional investors, billionaires, from the citizens, independent investors.   Wall Street went to war against day-traders, ordinary Americans.

♦ Then the stock trading App “Robinhood” which was used by the citizens to make their trades, actually stepped-in to stop users from purchasing GameStop shares.  The Robinhood app will now only allow sales of GME and the other stocks because the app is protecting the billionaire class from their short position.

Wall Street, the New York Stock Exchange, the entire financial trading system is trying to protect the short-sellers by driving down the shares of stocks so that the short-sellers can get out of their positions.   Never has there been such blatant market manipulation by the organized efforts of the elite financial class.

Big Tech and Wall Street are working together to keep a rigged system tilted in their favor and their aligned efforts are spotlighting just how rigged that system is.

The elites don’t care what happens to the ordinary citizens in the stock market… they are protecting their own status.  All of this is brutally illegal market manipulation and collusion by the financial sector.   [Story Here and Story Here]

Keep watching….

Masks are dropping at an alarming rate as more people are witnessing in real time just how this market is rigged against the interests of ordinary Americans.

FBI Lawyer Who Doctored False Information to FISA Court Gets 12 Months Probation, 400 Hrs Community Service and No Fine


Posted originally on the conservative tree house on January 29, 2021 by Sundance

We suspected that Kevin Clinesmith was going to get the James Wolfe leniency treatment, not only because the DOJ (Main Justice) wanted to avoid highlighting the severity of his criminal conduct, but rather -more specifically- because that criminal conduct took place under the direction of the Robert Mueller and Andrew Weissman special counsel (June 29, 2017)…. And that is what has happened.  It is all corrupt as hell…. all of it.

The judge over the case against former FBI lawyer Kevin Clinesmith was is James Boasberg.  Not coincidentally Boasberg is also now the presiding judge over the secret FISA court.  Judge Boasberg also carried an insitutional preservation motive to downplay the consequences of Kevin Clinesmith altering evidence at the behest of the Robert Mueller special counsel team.

Main Justice is protecting Rod Rosenstein, Sally Yates, Andrew McCabe, James Baker and Dana Boente, all of them knew the Mueller special counsel was corrupt from the outset.  Judge James Boasberg is protecting the secret FISA court.  It’s all FUBAR !

WASHINGTON – Former FBI lawyer Kevin Clinesmith was sentenced to 12 months probation and 400 hours of community service Friday after pleading guilty to making a false statement in the first criminal case arising from Special Counsel John Durham’s investigation into the origins of the Trump-Russia probe.

Clinesmith in August pleaded guilty to “one count of making a false statement within both the jurisdiction of the executive branch and judicial branch of the U.S. government, an offense that carries a maximum term of imprisonment of five years and a fine of up to $250,000.”

U.S. District Judge for the District of Columbia James Boasberg on Friday during Clinesmith’s sentencing hearing said Clinesmith had suffered by losing his job and standing in the eye of a media hurricane.

Boasberg gave him 12 months probation, 400 hours of community service, and no fine.

[…]  “[He] lost his job, and his government service is what has given his life much of its meaning,” Boasberg said Friday. “He was also earning $150,000 a year and who knows where the earnings go now. He may be disbarred or suspended from the practice of law, you may never be able to work in the national security field again. These are substantial penalties.”

Boasberg added: “What is more, he went from being an obscure career government lawyer to standing in the eye of a media hurricane. He has been threatened, vilified and abused on a nationwide scale.”

[…] “Altering the email has forever changed the course of my life,” Clinesmith said. “I have lost the means to provide for my growing family…lost the ability to give back to my nation… the shame and remorse will stay with me forever.”

[…]  Carter Page was also present at the sentencing hearing and told the court his life had been, “severely affected,” by Clinesmith’s actions, saying at certain points during the ordeal he felt like a, “man without a family,” constantly under media scrutiny.

However, notably, Page asked Boasberg to show Mr. Clinesmith leniency. (read more)

1. Remember, the Special Counsel was appointed in May 2017, and from then until April 2019 any matter which had anything to do with Spygate or Trump/Russia, was managed exclusively by the Special Counsel team. [Rosenstein testified to this June 2, 2020]

2. The Carter Page FISA warrant of June 29, 2017, was renewed during the tenure of the Special Counsel. They alone ran the FISA process for the third renewal.  Clinesmith did not lie until the Special Counsel stepped-in…  The timing speaks volumes.

3. Kevin Clinesmith’s boss at the FBI during the period for FISA assembly was a supervisory special agent and Trisha Beth Anderson was the lawyer responsible to sign-off on the final assembly. [LINK]

4. The Clinesmith criminal indictment (actually an “information”) informs that, while the Special Counsel was running the DOJ, and Andy McCabe was running the FBI, Clinesmith made this request to another government agency “OGA”:

We need some clarification on [Carter Page]. There is an indication that he may be a “[digraph] source.”

[LINK]

5. Why is this “digraph” redacted from the Clinesmith information?

6. Clinesmith continued:

“This [the status of Carter Page] is a fact we would need to disclose in our next FISA renewal…”

7. Why is the sentence following that critical question redacted from the Clinesmith indictment with “….”?

8. Clinesmith continued:

“To that end, can we get two items from you? 1) Source Check/ Is [Carter Page] a source in any capacity? 2 ) If he is, what is a [digraph] source ( or what ever type of source he is) ?”

[LINK]

9. Why again is the critical “digraph” source code redacted out of the Clinesmith indictment?

10. The entire issue is that a supervisory special agent is asking Clinesmith to ask the CIA whether Carter Page is any kind of CIA informant. Why redact out that specific material from the Clinesmith indictment, unless the intent is to conceal that material?

11. Why is the specific 2-digit number “digraph” supposedly secret, and why is the “type of source” omitted form the criminal information? The FISA affiant, SSA, is asking, “what is this kind of ‘source’ is Carter Page? He’s claiming to be a source, so check with the CIA to verify ‘if he is any kind of source.’”

12. Again, despite the redaction of what appears to be critical exchange, the Clinesmith indictment still includes asking for official CIA confirmation about Carter Page, “whatever kind of source he is.”

13. We know from the Clinesmith indictment that (at a minimum) he reported back that Carter Page “was a subsource” for the CIA.

14. So when the DOJ (now run by the Special Counsel) signed the Carter Page FISA renewal [June 29, 2017], we know without question that the FBI Supervisory Special Agent who reported directly to the FBI’s Deputy Director (McCabe) knew that Carter Page was at least a CIA subsource.

15. And we know without question that Clinesmith had been informed by the CIA that the CIA has already informed the DOJ and the FBI about Carter Page’s status, a year earlier, on August 17, 2016.

16. The CIA gave Clinesmith an email with all of that information. [LINK]

17. Without any push-back from the DOJ or FBI, in 2020, in connection with Clinesmith’s guilty plea, he stated that he (Clinesmith) never bothered to read the Carter Page file that the CIA gave to him. [LINK]

18. His boss had asked him specifically to check with the CIA as to the status of Carter Page. The CIA confirmed that Carter Page was some kind of source, and provided the file explaining it all.

19. Clinesmith first reports to his boss that the CIA has confirmed that Carter Page is some kind of a source – a “sub-source,” but we don’t know exactly because the “digraph” code describing what kind of source he was had been concealed out of the indictment.

20. What possible reason is there for the DOJ to redact out that code?

21. When Clinesmith reports to his boss that Carter Page is definitely some kind of CIA source, without question the SSA now knows:

“This [the CIA source status of Carter Page] is a fact we would need to disclose in our next FISA renewal…”

22. Yet a few days later, Clinesmith sends an email to his boss evidencing that Carter Page “was never a source.” Yet the DOJ’s indictment redacts the “digraph” code about this.

And…

23. Isn’t it a logical conclusion that the combination of the following highlight a DOJ whitewash: (i) the redactions of the digraph code from the indictment, “(ii) the DOJ allowing Clinesmith, unchallenged, to assert that he “did not recall ever reviewing the documents referenced in the [CIA’s] email” disclosing Carter Page’s informant status with the CIA.

24. And how could a veteran FBI attorney (Clinesmith), in the space of a few days, twist “A” into “B”?

25. Here is “A” the process the FBI started with:

Getting “clarification on [Carter Page]. There is an indication that he may be a “ [digraph] source… we would need to disclose in our next FISA renewal… To that end….[contact the CIA and find out]: (1) Is [Carter Page] a source in any capacity? and (2) If he is, what is a [digraph] source (or what ever type of source he is)?”

26. What was “B”?

After first telling his boss that Carter Page was a sub-source, Clinesmith changed the official story by then stating that Carter Page “was not a source”, as if there is some distinction between being a CIA-approved “source” versus a CIA-approved “sub-source.”

27. Clinesmith’s boss knew this change of story was a smoking gun of a fix. How do we know that? Two issues:

28. First, the Clinesmith indictment concedes it, although it is buried. SSA asked Clinesmith whether the FBI “had it in writing” from the CIA that Carter Page “was not a source.” That’s not a question in this scenario, that’s an instruction.

29. Clinesmith knew any written claim that Carter Page was not a source would be untrue, because the CIA had informed them specifically that Carter Page was working with the CIA as a [digraph], and that his role was described in the CIA briefing memo to the Crossfire Hurricane team dated August 17, 2016. [LINK]

30. The Crossfire Hurricane team consisted of many senior members of the DOJ and FBI who eventually overlapped into the Special Counsel [They had to know what was going on with this June 29, 2017 renewal]

31. Clinesmith also knew Carter Page was a source for the CIA. He deliberately falsified the CIA email to try and create a CYA position for the use of the FISA application. For this event he has now plead guilty to a felony.

32. What happened during the four days: June 15, 2017 to June 19, 2017, that caused FBI attorney Kevin Clinesmith to commit a felony by doctoring an email from the CIA?

33. What happened during the four days June 15 to June 19, 2017, that caused the FBI to pivot from asking about Carter Page’s status with the CIA “in any capacity, and whatever type of source he is” – to later stating something from the CIA they knew was untrue?

34. Trisha Beth Anderson signed-off on the Carter Page FISA application, a title-1 surveillance warrant, under penalty of perjury…. even though we know the application contained materially false information and omissions.

35. Trisha Beth Anderson claims she signed the FISA affidavit(s) because it/they were presented to her in a rather unusual manner. [LINK]

In front of a joint session of the House Judiciary and Oversight committees on Aug. 31, 2018, former FBI Deputy General Counsel Trisha Anderson said she was normally responsible for signing off on Foreign Intelligence Surveillance Act applications before they reached the desk of her superiors for approval. Anderson said the “linear path” those applications typically take was upended in October 2016, with FBI Deputy Director Andrew McCabe and Deputy Attorney General Sally Yates signing off on the application before she did. Because of that unusual high-level involvement, she didn’t see the need to “second guess” the FISA application.

36. Why did she do this? She disclosed why in her previously hidden testimony to congress (August 2018). [LINK]

Anderson said all FISAs need to be signed off on in the FBI’s National Security Law Branch, where she was assigned at the time. Anderson said she was the Senior Executive Service approver for the “initiation” of the Page FISA, including determining whether there is legal sufficiency.

But Anderson stressed “in this particular case, I’m drawing a distinction because my boss and my boss’ boss had already reviewed and approved this application.” She emphasized “this one was handled a little bit differently in that sense, in that it received very high-level review and approvals — informal, oral approvals — before it ever came to me for signature.”

Anderson said that FISA approvals are typically “tracked in a linear fashion” and that someone in the Senior Executive Service “is the final approver on hard copy before a FISA goes to the director or deputy director for signature.” She said the Page FISA was approved outside regular procedures. (more)

37. Anderson had signed-off on earlier Page FISA applications because they came to her already signed: ex. by James Comey (FBI) and Sally Yates (DOJ).

“Because there were very high-level discussions that occurred about the FISA,” Anderson said she believed that meant “the FISA essentially had already been well-vetted all the way up through at least the Deputy Director [McCabe] level on our side and through the DAG [Yates] on the DOJ side.” Yates had already signed the application by the time it made it to Anderson’s desk.

38. When she signed-off on the last Carter Page FISA renewal (June 29, 2017) the Special Counsel was now running the DOJ. Andrew McCabe was in position and running the FBI

39. Trish Anderson signed-off the prior Carter Page FISA’s because they were presented to her pre-approved and pre-signed by the FBI and and DOJ leadership.

“The General Counsel [Jim Baker] … personally reviewed and made edits to the FISA, for example,” Anderson said. “The Deputy Director was involved in reviewing the FISA line by line. The Deputy Attorney General over on the DOJ side of the street was similarly involved, as I understood, reviewing the FISA application line by line.”

[…] Anderson stressed that McCabe, Yates, and Baker all played key roles in reviewing the Page FISA. “My approval at that point was really purely administrative in nature. In other words, the substantive issues — the FISA had already substantively been approved by people much higher than me in the chain of command,” Anderson said.

Anderson said it “typically would not have been the case” that people such as McCabe and Yates would sign off on a FISA application before she did.

“That part of it was unusual, and so I didn’t consider my review at that point in the process to be substantive in nature,” Anderson said. “In other words, there were smart lawyers, high-level people on both sides of the street who had reviewed and signed off on the application, the details of the application. And so I was simply signaling, yes, this package is ready to go forward.”

Anderson said the seal of approval from such high-ranking FBI and DOJ officials meant that her signature on the FISA application was mostly perfunctory. (more)

40. General Counsel Jim Baker and Deputy FBI Director Andrew McCabe was Anderson’s FBI boss when she signed-off on a false affidavit and assembly. Rod Rosenstein was Deputy Attorney General.

41. Additionally, on June 29, 2017, the special counsel was in control of the DOJ and DOJ-NSD. This third renewal was under their authority.

42. Who told/influenced Kevin Clinesmith to change events and paper the file with a false claim that Carter Page was somehow not a CIA asset?

[Transcript Link]

42. AG Bill Barr knew from December 9, 2019, about Kevin Clinesmith’s felony forgery when OIG Inspector General Michael Horowitz made a criminal referral for the discovery. Why delay the indictment until August 20, 2020?

This thing reeked of another institutional preservation approach. What I suspected, now proven, was that Bill Barr did not want to touch any material that contacted the Weissmann/Mueller special counsel… however, what took place under the Weissmann/Mueller special counsel is actually more corrupt than any activity that preceded it.

What I also strongly suspected was that Bill Barr was using his oft stated “I will not allow the DOJ to be political” as a crutch in his preservation approach. If nothing from the world or sphere of politics is allowed to enter the world or sphere of the DOJ then what is supposed to happen with all those years of congressional evidence gathering?  This is exactly what took place.

Keep in mind I made first hand contact with the Durham investigators to confirm their intense alignment with Barr’s directive.  We knew from July 2020 that nothing from any embargoed political silo would ever be prosecuted regardless of how it percolated out.

If you read all the material you will see there was clearly no arrangement for Kevin Clinesmith to have provided any other evidence to the DOJ. This was a one-and-done move EXACTLY LIKE former SSCI Security Director James Wolfe. The parallels were  very similar.

Clinesmith Supporting Statement:
https://int.nyt.com/data/documenttools/clinesmith-statement-of-the-offense-and-plea-agreement/7df4d0b6279bbf20/full.pdf

Clinesmith indictment/information:
https://int.nyt.com/data/documenttools/kevin-clinesmith-court-documents-filed-by-john-durham/73f2632106afc317/full.pdf

Clinesmith Plea agreement:
https://www.politico.com/f/?id=00000174-0950-dac0-adf5-1bf481a00000

Game Stop Can’t Be Stopped


Re-Posted from GrrrGraphics.com JAN 28, 2021 AT 9:31 AM

Hey Hedge Fund Guys..Learn To Code!

The plannedemic helped the mega rich get mega richer while the little people got poorer. The biggest global corporations got bigger while smaller businesses were told they weren’t necessary. They were locked down. Many companies struggled was a result. Like weakened animals, they became prey to the powerful wolves that are Wall Street hedge funds. The hedge funds specialize in ‘shorting’ targeted stocks.

A fund ‘borrows’ company shares from brokerages in a process known as ’selling short.’ For example, if you own shares of XYZ Corp., they can be borrowed by a hedge fund and then sold on the spot without you even knowing about it. With enough short selling the price of the stock goes down. The hedge funds eventually buy back the shares at much lower prices and pay back what they borrowed. This is known as short ‘covering.’ They profit by a stock’s decline. The shorts prey on vulnerable companies and hope to drive them out of business. When that happens they don’t even have to cover.

Many investors consider hedge funds to be villains because they destroy companies and jobs. Elon Musk railed against those who shorted his company, Tesla. Some consider shorting to be a form of robbery.

The hedge fund robbers are now complaining about getting robbed. They expected GameStop to go to zero. Instead it quickly went up from a few dollars to over $300 and cost them billions. Not only had they massively shorted GameStop, they were also ‘naked’ short, which means they sold shares they didn’t even borrow. Shares that never existed. How can they pay those shares back? They can’t, and many young people caught onto what was going on. When one of their beloved companies was attacked by the hedge funds, the millennials fought back by buying shares. They spread the news about GameStop on social media sites such as Reddit and 4chan. Many who got in early become millionaires, but many are doing it for another reason: It’s not about money so much as teaching the powerful Wall Street oligarchs a lesson.

The millennials have gotten the short end of the stick. They’re burdened by college debt. They don’t have jobs that pay a decent wage. They’ve been marginalized and treated as inconsequential little people. They have been cut out of the American Dream, while mega-billionaire globalists collect more wealth and power. Yet in this instance the weak and powerless have successfully fought back. What they have revealed is just how rigged and collusive Wall Street has become. So has the regime that recently and blatantly stole a presidential election. The top of the pyramid have revealed themselves to be hopelessly corrupt. They are liars and ruthless con men. They are criminals who don’t have to follow their own rules while they display contempt for the powerless.

The SEC doesn’t care if hedge funds are naked short, which is supposedly illegal. Instead, the regulators want to shut down the ‘longs’ who are buying GameStop. The little people always get the blame. A hedge fund going bankrupt and losing billions of dollars can’t be tolerated, so now it appears that the corrupt brokerages and regulators are going to change the rules midstream—just as the Democrats changed voting rules in key states to steal the election. The corporate media are already blaming those who bought GameStop stock. The little people are accused of ‘manipulating’ the stock. Next they’ll be smeared as ‘financial terrorists,’ when in fact it’s the naked shorting hedge funds who are the real terrorists.

In this instance, the little people have won—even if GameStop is forced back to Earth. What the millennial generation has shown us is just how corrupt and rigged the stock market really is. My hat is off to them. Seeing them win a battle against a powerful and corrupt financial system sure does help morale.

Questions from Around the World


Armstrong Economics Blog/Q&A Re-Posted Jan 29, 2021 by Martin Armstrong

This image has an empty alt attribute; its file name is euro-digital-electric.jpg

QUESTION #1: Hello Mr Armstrong,
Thank you so much for the heads up regarding the elimination of paper cash. Regarding the US things are clear and so we’ll have to wait and will soon see what happens.
Could you elaborate on the elimination of paper regarding the EU and UK? What is the timeframe? What is the alternative going to be? Is it a good idea and is there any possibility to short the euro to compensate for the losses?
Officially there has been no mention of this elimination at all here in the EU (Netherlands), nor what the alternative might be. I’m sure that initially, the general public will be very surprised to say the least.
Thank you for your endless efforts and helping hand.
SR

ANSWER #1: Biden is moving at light-speed with regard to climate. He is fully implementing everything that Gates & Schwab have been directing. He has been doing so all by executive decrees which I have been against constitutionally because this circumvents everything that Congress is supposed to be there to do. Nothing is ever allowed to be voted on.

That said, Biden will have difficulting when it comes to canceling the dollar. Trudeau in Canada has done so as of January 1st, 2021 but nobody knows that yet. He did that is secret. The problem in Europe is that the ECB moved to negative rates in 2014. They cannot raise rates without blowing up their own balance sheet for they not only have to continue buying member debt, but they also have to keep what they already bought and roll it when it expires. So that is a real problem.

Europe will most likely push ahead with canceling its currency in 2021 because they are desperately trying to force people to end hoarding of cash, but our models are now tracking a serious capital flight from Europe seeking yield and much of that is headed to China to collect 3% on their bonds.

In the UK, Johnson is acting like a dictator. He will most likely follow Europe but perhaps not instantly. But the move toward digital will most likely come there in 2021. Looking at our timing models for volatility, that may be May or July/August. Biden will have a much harder time canceling cash because 70% is outside the USA and Americans have never had their currency canceled.

COMMENT #1: Whatever you write they do. You are just part of their game. Someone needs to shut you up.

REPLY #1: No worries. I’m sure those in power will listen to you.

QUESTION #2: Hey everybody, [JB] here.
I always think I’m writing to Marty personally, but I expect maybe a staff member screens this stuff.
Nonetheless, Marty, as always I love you Brother!!! I love your staff as well.
Hey, I’ve been reading the private blog about food shortages and inflation.
You all know me, I was the kid, in the late 1970s, whose father made him go wait in the gasoline lines (anybody remember gasoline rationing?).
Just in a few days since Ol’ Joe started his dictating, gas has jumped up over 20 cents per gallon.
Will we see gasoline shortages/gas rationing/long lines to get gas?
I’m buying an electric scooter this weekend just in case (ha ha).
God Bless everybody.

JRB

ANSWER #2: Yes I find it interesting how the fundamentals unfold to fulfill the model. This is supposed to be a wave into 2024 with inflation based upon shortages. The main goal of these crazy Climate Change people is to drive the price of energy so high people will not be able to afford it.

COMMENT #2: Thank you for responding to my question in Dutch. Everything has been so corrupt with the government trying to find anyone willing to publish is getting very hard.

REPLY #2: I know. I try to translate messages coming in from many different languages. But I am only one person. Perhaps it is time to let others start to write as well. I cannot cover it all.

COMMENT #3 A tourist got 6 months in JAIL for disobeying “covid” rules!! And others are facing up to a year in jail now.

One would have to be insane to travel/fly anywhere in this new global tyranny!

“A tourist was jailed for six months earlier this week for breaching Barbados’ strict Covid-19 protocols, even though he’d only popped out for a drink. Dean George Scott, 49, from Jamaica admitted leaving quarantine to ‘buy Fanta’ and other snacks after arriving on the holiday island at the beginning of December, when he appeared in court. Chief Magistrate Ian Weekes said the sentence served as a was a ‘clear warning’ to others.”

PG

REPLY #3: I know. My staff is stranded around the world and I cannot even get them in for our Conference in December. I am not sure we will be able to have conferences in the future. They might have to be all virtual. Let’s see.

How Splits Take Shape


Armstrong Economics Blog/Ancient History Re-Posted Jan 29, 2021 by Martin Armstrong

QUESTION: Dear Mr. Armstrong –I just fled California for Idaho, since it is one of the most conservative and fiscally sound states. In your blog, you just stated that if the USA splits, it will again be split into north and south. However, since you are pointing out the burgeoning strength and success of Florida and Texas, I am wondering whether the conservative side will be the south this time instead of the north. Did I move the wrong way?

SC

ANSWER: No. Usually, a split takes place along the same historical lines as in the past. So you see north v south in the USA, Britain, Germany, and Italy just to mention a few. In the USA, the West existed but remained out of the Civil War. So the split maybe California, Oregon, and Washington align with the East and the middle of the country aligns with the deep South.

Democrats to Tear Down the Supreme Court?


Armstrong Economics Blog/Rule of Law Re-Posted Jan 29, 2021 by Martin Armstrong

There is no question that the Democrats feel like they have to change everything. Stacking the Supreme Court was attempted by Roosevelt in 1937 and he lost. I have shown that it really does not matter who appoints the justices. Chief Justice Roberts was appointed by Republicans and he upheld Obamacare. The examples are endless. They refused to take the Texas case and committed the country to absolute sheer chaos and did not uphold Trump simply because he was a Republican. I can find no evidence that any justice will always rule based upon who appointed them.

OWEN-Life Tenure for Federal Judges Raises Issues of Senility, Dementia – ProPublica

That said, Eric Holder has brought up three main issues for judicial reform. First, he brings up the issue of age and term limits. He says there should be a limit of three 6 year terms. That should also apply to politicians. Look at who is running the country. Pelosi, Feinstein, Schumer, Bernie Sanders, and even Senator Patrick Leahy, are all 80 or older.  It’s no fun standing before a judge who forgets who you are. In the end, the court of appeals finally took my case away from him fearing he would never release me no matter what. After reassigning the case saying perhaps a “fresh pair of eyes” would help and the other case he had was Frank Quatrone whose case they also took away from him, there is never any possible review of their mental state. Judges were there for life because King Edward I dismissed judges for ruling against him. That risk no longer exists. He says justices should not make the decision when to retire. Justice Ginsberg was trying to hold out for a Democratic president.

Holder wants to dramatically expand the lower courts and he wants to impose a minimum age of 50 to become a federal judge. But he implies that the last time the Supreme Court was expanded to nine was because there were nine circuits. He throws in there that today there are 13 circuits and thus the Democrats should be able to install 4 justices.

There will be judicial tinkering, but the real constitutional crisis remains the Judiciary Act of 1925 which granted the discretion of the justices to hear cases. That is unconstitutional for they swear an oath to defend the constitution but then claim a discretion to do so. You cannot have it both ways. I am NOT bothered by the Democrats appointing four justices to the Supreme Court. I have NEVER seen any evidence that they will vote party lines all the time.

Their whole focus is worried about abortion being outlawed. That is precedent and just because Trump appointed anyone does not mean they would overturn Roe v Wade because it was tied to the right to privacy. Overturn that and they can then do anything to you even under the pretense of COVID.