Ghostnuts Podcast #39 – Social Credit Score, Universal Basic Income & WallStreetBets / Gamestop
A virtual representation of the Ghostnuts Podcast #39 which can be found at https://ghostnutspodcast.com
18:50 - Gamestop / WallStreetBets discussion.
As part of the Xi Jinping government’s larger goal to make China a world leader in Artifical Intelligence and Big Data by 2030, the state is now working towards bringing its 1.4 billion-strong population within the purview of a system that can monitor the behaviour of its population in real-time — and also rank them based on social credit.
An example of the Social Credit System can be compared to the Black Mirror episode ‘Nosedive’. The basis of lifestyle is based on a rating every person has. For example, higher ratings get you to live in prominent areas, and poor ratings will make key decisions in what car you will be able to rent or even booking flights. Also, everyday actions can also affect your rating such as appearing to talk to someone to someone who is frowned upon.
In other words, the Social Credit System in China isn’t merely a punishment for criticizing the state as is the case in most totalitarian regimes, the Social Credit System can bring the hammer down for even the slightest infraction and seems to be a benchmark by many governing leaders and globalists worldwide.
It doesn’t stop at a social credit score, once this gets allowed in, it gives the excuse to usher in the cashless society, which the ushers in the universal basic income. Universal basic income is a government program in which every adult citizen receives a set amount of money on a regular basis. The goals of a basic income system are to alleviate poverty and replace other need-based social programs that potentially require greater bureaucratic involvement. The idea of universal basic income has gained momentum in the U.S. as automation increasingly replaces workers in manufacturing and other sectors of the economy.
Pope Francis is pushing UBI in a post-Wuhan pandemic world as the means to a more equitable economy. “I believe it is time to explore concepts like the universal basic income (UBI), also known as ‘the negative income tax’: an unconditional flat payment to all citizens, which could be dispersed through the tax system,” Francis asserts.
Gamestop goes from 4-5$ last year to a massive $400 something in the last few days, how does this happen? (Gamestop is a retailer of video games / Kind of an undoubted model think Blockbuster of video games, a lot of people did not think this company would survive the current trend (more people buying games online). Hence the stock price gradually going down.)
This increase in stock price has been greatly attributed to an online forum/group on reddit that goes by the name of Wall Street Bets, now the media is going to make them out to be the bad guys, they have been portrayed as market manipulators “hackers” even, as their platform is an orgy of memes where they call each other by various slanderous words such as gay bears in an obviously joking manner making them an easy target. But the actual cause is due to the hedge fund investors and their greedy practice of “Short Selling”, now what is “Short Selling” to put it simply Stocks go up when more people want them and stocks go down when less people want them (company is doing worse or they’ve done something stupid.) For e.g. Supply & demand.
Hedge fund managers (Citadel & Melvin Capital) were shorting GameStop’s stock, meaning they were betting on Gamestop failing, the problem is they shorted over 100% of the available shares, so instead of saying I think Gamestop is going down, let me put a small bet on it, they decided to bet more than everything (how the fuck is this even possible), HFM got so greedy with shorting the stock they eventually got caught with their dick in the nanny.
Now the media is making it sound like these people from WSB robbed the institutional investors, that is not the case. They just bought shares and caught the Investors out in a greedy practice that should be illegal. Now the hedge funds are forced to cover their debt and are now playing the victim.
When the big wigs realised that the average person was making $ of this they decided to close methods communication (shutting down Discord servers and shutting down forums) as well as limiting and even stopping the buying of buying stocks (e.g. Robinhood) and even forcefully selling peoples positions (stocks) without their consent. They are still restricting people from buying stocks like AMC, BB, GME and potentially flipping the table on wall street.
DISCLAIMER: All topics discussed are hypothetical and may or may not be true, it is just a couple of friend's take on the subjects brought up. We advise you to please do your own research and don't just take what we say as gospel. This is all for fun and entertainment. Godspeed everyone.
Also, we don't own any of the clips in the video. All credits go to the original producers/distributors.
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