Dumb Money in the Past few weeks has flooded from retail investors into the hands of the wealthy.
This is nothing new. Welcome to speculative markets 101.
Most concerning is people flooding into Hertz Rent-a-car stocks after the company went bankrupt.
Why?
Because lemmings.
On the surface Robinhood appears like a sweet deal: No commission trading. With this lowering of the bar, people who shouldn't be messing in the stock market can, and with a name like Robinhood it must be helping to rob the rich to feed the poor, no?
We're living in times where everything is backwards, upside down and inside out. Change and rebirth.
Robinhood is not a part of the revolution. It's a tool for the wealthy to squeeze just a little bit more out of the poor, and the poor souls think they're getting rich.
No matter what you do, if you're using fiat currency, you are playing in their (the wealthy's) world. If you do make money trading stocks, oops there's capital gains tax. When you cash out into newly created currency diluted into the money supply, oops there's a tax as well (inflation). No matter how you play the game, its rigged so that you always lose. And, the more you play, the more often they take from you.
We're definitely on the cusp of financial revolution, but we've been here before. It was the poor getting a glimpse of how the king lived in France that sparked the French revolution. Now that Powell's printing press is going brrrrr, Americans (many of whom are living in poverty) are seeing how the wealthy live and how they create new money when they need it.
This next revolution is centered in the US, but it is resonating everywhere in the world where central banking and fractional reserve banking (one cannot exist without the other for very long) have bled the bottom 99% dry.
Thanks for dropping by, and don't be a lemming.