Charlotte, NC — This week, Main Street and Wall Street went head to head. Average everyday American investors went up against hedge fund billionaires in an effort to utilize the stock market and earn money. It’s something the hedge funds do nearly every day.
Average Americans won the first round. They caused the hedge funds to lose billions as they were forced to try to cover their stock positions. By the time that they fought back, it placed trading platforms and the mainstream media in the spotlight.
The media decided that it was worth reporting on the billions being lost and how it was detrimental. Elon Musk said it was “shorty apologists” and others said the sympathy being received by those hedge fund billionaires ridiculous.
As we previously reported here, Ted Cruz and AOC called for an investigation into Robinhood and other trading platforms that halted trades on specific accounts. They forced investors to lose money, forced them into selling their positions, and manipulated the market to save hedge fund leaders billions.
What happened to these everyday American investors was wrong. The market exists to allow everyone the chance. That chance was rigged by crony capitalism and the elites of America. It caused people to lose thousands of dollars and gives us three important lessons that we must learn.
American elites have too much power
The first lesson is that American elites have too much power. These billionaires simply made a few complaints, it stirred the mainstream media and caused trading platforms to halt the trades.
Trading platforms claim that the cause for halting trades was an absence of liquidity. They stated that they needed to be able to cover the positions being ordered. They certainly didn’t have a problem taking the money of the investors. They also did not have a problem with any other stock that wanted to be traded on the market. It was only those specific ones that these groups were trading.
That is direct market manipulation and discrimination of these individual investors. They refused to allow them the opportunity to capitalize on their unique position. It’s a direct attack on capitalism and should not be allowed.
Capitalism will always win over socialism
We can also see how socialism never works from the above example. In socialism, there are two distinct classes of individuals that are created. Those who have and those who do not have.
Democrats have been dividing Americans into different classes for many years. They have successfully incited new racial tensions, hatred of police, and hatred of conservatives. One other place that they want to divide us is the rich and the poor.
Rep. Alexandria Ocasio-Cortez (D-NY) and her Democratic Socialist friends like Sen. Bernie Sanders (I-VT) consistently deliver the message that the rich should be paying for everything. Except we can clearly see that the rich do not want to participate in this. If the rich were interested in giving away their wealth, then these hedge fund managers would not have had an issue with average Americans taking billions from them.
Instead, we see that they called in a few favors. They had trading halted, the price of the stock was forced down and they saved as much money as they could. This type of market manipulation is wrong.
Socialism in our country would work the same way. Those who have are not going to willingly give up their power and accept less. They are not going to willingly give up their money to distribute to the poor. They will simply change the rules to remain in power or move on, just like what happened here.
Joe Biden is not interested in being a President for all Americans
In his Inaugural address, Biden claimed that he would fight for all Americans. He said it did not matter if you did or did not vote for him, he was going to prove himself and fight for you as your President. That was until he refused to say or do anything.
He refused to make any statements about the actions on Wall Street. He refused to speak out in support of everyday Americans and their rights to make money in the stock market just like the billionaires. He chose to remain silent and sometimes silence speaks louder than anything.
Perhaps it has to do with the millions that Wall Street dumped into Biden’s election campaign. Perhaps it has to do with the millions that the new Treasury Secretary, Janet Yellen, collected from Wall Street. One thing is for certain, his silence tells the full story. He is only interested in being the President for those he chooses. This time, he did not choose everyday Americans.
Americans must take a close look at these three areas that are easily seen in the GameStop stock saga. One area shows how rigged the system is against Americans, just as President Donald Trump said it was. Another shows how bad our situation is, with a leader that will not be a President to all Americans. Finally, we can see what our future will look like as hedge fund billionaires are protected and Americans are forced to lose what they have.
While this week was bad, it is only the beginning. This is what the Democrats have been wanting and this is what millions of Americans voted for.
JD Washington is the Editor-in-Chief at The Liberty Loft and host of The JD Washington Show. Be sure to subscribe to The Liberty Loft’s daily newsletter. If you enjoy our content, please consider donating to support The Liberty Loft so we can continue to deliver great content.