This took real work, but a former SEC commissioner by the name of Laura Unger has officially given the absolute worst take on the Reddit revolt that has caused hedge fund managers to wake up in cold sweats.
Appearing on CNBC (because they are ground zero for market manipulation), Unger decided to compare some Reddit users legally buying stocks to those that stormed the Capitol Building on January 6th.
These people have lost their minds pic.twitter.com/QFF3LapyDP
— Barstool News Network (@BarstoolNewsN) January 29, 2021
The Federalist provides a transcript for those that can’t view the video.
“It really puts a lot of question about the integrity of the market, right? And it really, kind of, everybody’s scratching their heads over this … not unlike what we saw on Jan. 6 at the Capitol, right?” Unger said on CNBC. “If you don’t have the police in there at the right time, things go a little crazy. And that’s kind of feels like what’s happening with this. Much different, much lesser degree: It’s financial harm, not personal bodily harm, but certainly that’s the same kind of, you know, platform-created frenzy that people are operating under, and these are very trying times.”
She tries to hedge by saying that it’s different because this is only causing “financial harm,” but even that framing shows how corrupt these people are. There was no financial harm caused here, at least not outside the normal reality that anybody can lose money in the stock market. This wasn’t some terrorist attack that killed innocents. It was retail investors making hedge funds pay for over-shorting GameStop and several other companies. That’s the game, and if you lose, you lose, or at least that’s how it’s supposed to be. Her suggestion that we need “police” to stop what the Reddit users did is insane. Unger then doubles down by insisting that the Reddit investors are the driven by the same kind of “online frenzy” that caused some crazy QAnon people to steal Nancy Pelosi’s podium earlier in the month.
Notice the comparison here because it tells us something. Elites like Unger see the system as theirs, and they resent any outsider who might try to use it for themselves. They also see everything through the same woke lens whereby anyone they don’t like is actually all part of the same online, probably racist mob. In fact, one of the main reasons Wall Street Bets had their discord shut down was because of claims of “hate speech.” It’s the catch all that allows liberal crony capitalists to basically justify anything. Don’t like that some hedge funds lost money? Just blame it on hate speech and shut down the competition.
All of this plays into a much bigger ploy by the big tech and big finance elites. They’ve successfully rigged the system in their favor, and now they are seeking to crush any and all dissent, whatever form that may come in (speech, buying stocks, etc.). We’ve seen it with online censorship on the social media sites, and now we are seeing it on trading sites that are bought off by the big Wall Street players. None of this is actually free speech or a free market.