The REDDIT revolution is as historic as the French Revolution [see photo].
This revolution began as a money-making game for individuals who were locked into their houses. These gamers then realised that they could do what the Occupy Wall Street movement failed to achieve. They could cooperate and form a coalition of individuals who could outplay Wall Street hedge funds at their own game. They could buy GameStop stocks when the hedge funds were selling them. Indeed the hedge funds had over sold their position by around 71 million shares. So the hedge funds were stuck between a rock and a hard place. The hedge funds were losing billions on their positions and the cost of holding their positions was rising and rising. And with the gamers buying not selling shares a tight liquidity squeeze was on in the market for GameStop stock. A revolution was on because the hedge funds no longer controlled the stock price of GameStop.
The REDDIT revolution is being played out on Wall Street in the full gaze of the world. The world is shocked because the gamers have overturned the dominance of hedge funds money and connections. The hedge funds are an integral part of The Collective who rule the world in 2021 and so they were not prepared for this attack from a determined coalition of individual gamers. This is a battle between collaboration [hedge funds] and cooperation [gamers]. This battle is being played out in the stock market but it gives us an insight into what the coming war between The Collective and The Individual.
On Wall Street we can see The Collective using all the power of existing institutions to exert the amount of financial pressure on The Individuals who do their best work outside the power hold of the current system. In the capital, Washington DC, the Biden Administration has an army and barbwire fences to seal off their seat of power from The Individuals who pay the bills for government. Biden is clamping down on his taxpayers, his citizens, and his bureaucrats.
Can Biden hold the line and form a new America? His version of America is not one that the gamers will accept lightly and so we are about to see a war between the power of The Collective and imagination/ingenuity of The Individual.
Richard.
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