No Robin Hood

We all know about Robin Hood, the folklore hero, who stole from the rich to distribute the booty among the poor. This post however, which is a short follow-up on yesterday's post, is about the trading app Robinhood which certainly is nothing like its folklore predecessor.

First, let me hive a shout-out to fellow Hive blogger Hive account@beelzebubba who pointed out to me yesterday how the establishment would immediately fight back against we, the people after the successful financial uprising against short sellers on Wall Street in the Gamestop fiasco. Well, it was a fiasco from their perspective, but a huge and unique success on the part of retail investors. If you're not yet familiar with this Wall Street vs Gamestop vs the r/WallStreetBets Reddit channel, read yesterday's post: Wall Street VS Reddit. Indeed, the powers that be can't stand the fact that this time it's not them making the money, and display the most unsavory kind of victim mentality you'll ever witness... How right Hive account@beelzebubba was...

So, most of the trading that caused Gamestop's stock price to soar and made traditional Wall Street short-sellers have to buy more Gamespot stock, which in turn made that stock even more expensive, was done on the popular trading app from the American financial services company Robinhood. When we visit their website it says in bold letters "Investing for Everyone", and elsewhere on the site we read:

Our mission at Robinhood is to democratize finance for all. We’re proud to have created a platform that has helped everyday people, from all backgrounds, shape their financial futures and invest for the long term.
_{source: Robinhood}

Well, that's nice. Seeing that the popular uprising against the Wall Street hedge funds, that have made it their business to short-squeeze mom-and-pop businesses as well as regular citizens, was largely done through their app, one might even think it's true that Robinhood is on the side of the people, in the corner of retail investors. But hey, the company manages some 20 billion dollars worth of portfolios, most of which are bound to be owned by millionaires and billionaires, so it's more likely that Robinhood is in their corner. And they have shown just that with the news that they've put a halt to buying any more Gamestop stock: one can only sell that stock anymore via the Robinhood app. So Robinhood have shown their true colors, as have almost all the mainstream outlets who all bitch and whine about how regular citizens were able to trump the "professionals" at Wall Street and are now even calling for more regulation so that this can never happen again. Wait, what?!? Wall Street calling for more regulation?!? Yes, that's right; the insanely rich who normally are all about cutting regulation so that they can keep playing their dirty financial schemes to the detriment of us all, now suddenly want regulation of their playground. But not to hamper themselves of course...

This is so damned infuriating. Just watch the enclosed videos for some more aggravating background information, and to see those rich bastards cry about having lost this one time. Who do they think they're fooling? Well, that's just it: not everyone is involved in crypto currencies or blogs that share information from a non-mainstream perspective, so you can bet that millions will simply believe the bastards that make their lives miserable every day. There's some good news that just came in: there's a Class-action lawsuit filed against Robinhood for restricting trading Gamestop stock. The elites have the financial system rigged. WallStreetBets subreddits has been taken down. This is the system working against the people. Again. That's why, in closing, I'd like you to watch this below linked video to the end, as it has some important information about the critical importance of DEX's, Decentralized Exchanges. The video talks about UniSwap, but there are many more and there will be even more in the future and they will become ever more important in our fight against the highly centralized power of banks, Wall Street and other financial institutions. Share this information, join the decentralized future!

Thanks so much for visiting my blog and reading my posts dear reader, I appreciate that a lot :-) If you like my content, please consider leaving a comment, upvote or resteem. I'll be back here tomorrow and sincerely hope you'll join me. Until then, keep safe, keep healthy!