I started using Robinhood as a way to get my feet wet investing in traditional markets. Unfortunately, that time has come to an end. Their decision to limit customers based on the pretense of protecting them got me. Let's be honest, they most likely took a train in the face loaning out to the hedge fund sharks.
My friend Zdr's theory is more than plausible. But, like the big tech censorship recently, it carries serious implications. Hedge funds and other multi-billion firms run the country. The political theatre you see is exactly that, a show.
They own the corporations you despise so much. They own the politicians that spew out lies to you. They run the bureaucracy that further their own interests. Best part, they've given themselves lifetime positions as ruling elites.
There's no right or left. Only greed and power. They couldn't even let the little guys make some money on the side after denying relief. Oh no, they don't want you to do it at their expense. Instead, they receive multi-trillion dollar bailouts as small businesses and commoners perish.
They can't even play by their own rules.
Unlike the rest of the idealists out there, I am a realist. I have initiated the process to move my assets from Robinhood to Fidelity. Should take several days to even two weeks. It feels as if it's only a matter of time before "nonaccredited" investors like me can no longer own anything.
As much as I would like to go all in on crypto, I'm the type that diversifies. It's not the optimal strategy, but it's a path I have chosen for myself. Given there exist even talks of forcing KYC on self-hosted wallets, you know they could be coming. Will the crypto world advance fast enough to curb such overreach? We shall see.
In the meantime, enjoy the popcorn 2021 has to offer. We aren't even done with January yet.