Ian Carroll
π€ SpeakerAppearances Over Time
Podcast Appearances
Just look at Gary Gensler, the chair of the SEC for the last four years. He worked at Goldman Sachs for 18 years. Every door on Wall Street is a revolving door. And they don't hide it. They brag about how much financial experience all of these stooges have.
Another great example of a crazy conflict is from 2021 when the GameStock folks noticed that the global head of operations of Citadel Securities is on the board of the DTC, the company that's supposed to be overseeing all the stocks in the market.
Another great example of a crazy conflict is from 2021 when the GameStock folks noticed that the global head of operations of Citadel Securities is on the board of the DTC, the company that's supposed to be overseeing all the stocks in the market.
Another great example of a crazy conflict is from 2021 when the GameStock folks noticed that the global head of operations of Citadel Securities is on the board of the DTC, the company that's supposed to be overseeing all the stocks in the market.
Now, this is a little in the weeds, but because the DTC are in charge of issuing everyone's shares of stock, it's not too complicated of a job, theoretically. But then, when everyone noticed that the public numbers were showing that more than double the number of shares in existence had been borrowed for short selling, i.e. selling something that you don't actually own,
Now, this is a little in the weeds, but because the DTC are in charge of issuing everyone's shares of stock, it's not too complicated of a job, theoretically. But then, when everyone noticed that the public numbers were showing that more than double the number of shares in existence had been borrowed for short selling, i.e. selling something that you don't actually own,
Now, this is a little in the weeds, but because the DTC are in charge of issuing everyone's shares of stock, it's not too complicated of a job, theoretically. But then, when everyone noticed that the public numbers were showing that more than double the number of shares in existence had been borrowed for short selling, i.e. selling something that you don't actually own,
Alarmbells started going off. How is that even remotely possible? Pretty quickly, everyone figured out that no one owns any stock. We are actually all what is called beneficial owners. And that means that we get to play pretend with our little monopoly money and it works fine. But if the shit ever hits the fan, in reality, you don't own it. The DTC does.
Alarmbells started going off. How is that even remotely possible? Pretty quickly, everyone figured out that no one owns any stock. We are actually all what is called beneficial owners. And that means that we get to play pretend with our little monopoly money and it works fine. But if the shit ever hits the fan, in reality, you don't own it. The DTC does.
Alarmbells started going off. How is that even remotely possible? Pretty quickly, everyone figured out that no one owns any stock. We are actually all what is called beneficial owners. And that means that we get to play pretend with our little monopoly money and it works fine. But if the shit ever hits the fan, in reality, you don't own it. The DTC does.
And in the world of the stock market, these definitions matter. And so, The freaking retards online found this crazy obscure loophole that it's legal for anyone to take their shares out of the DTC's custody and register them directly in their own name with GameStop's transfer agent.
And in the world of the stock market, these definitions matter. And so, The freaking retards online found this crazy obscure loophole that it's legal for anyone to take their shares out of the DTC's custody and register them directly in their own name with GameStop's transfer agent.
And in the world of the stock market, these definitions matter. And so, The freaking retards online found this crazy obscure loophole that it's legal for anyone to take their shares out of the DTC's custody and register them directly in their own name with GameStop's transfer agent.
It's all a little nerdy and a little confusing, but in about a year and a half, we, yes, I am proudly a part of this statistic, we took about a third of the company's shares off of the public market and stashed them all away so they couldn't be used in this corrupt manipulative system.
It's all a little nerdy and a little confusing, but in about a year and a half, we, yes, I am proudly a part of this statistic, we took about a third of the company's shares off of the public market and stashed them all away so they couldn't be used in this corrupt manipulative system.
It's all a little nerdy and a little confusing, but in about a year and a half, we, yes, I am proudly a part of this statistic, we took about a third of the company's shares off of the public market and stashed them all away so they couldn't be used in this corrupt manipulative system.
People even started making rocket ship graphics and counting up how much the company had been taken off the market. And people were creating multiple ways of tracking it to triangulate against one another. And it was a whole deal. But it was a big deal.
People even started making rocket ship graphics and counting up how much the company had been taken off the market. And people were creating multiple ways of tracking it to triangulate against one another. And it was a whole deal. But it was a big deal.
People even started making rocket ship graphics and counting up how much the company had been taken off the market. And people were creating multiple ways of tracking it to triangulate against one another. And it was a whole deal. But it was a big deal.
GameStop investors realized that all this shady stuff going on, this naked short selling and swaps and failures to deliver, way too much fraud to get into, it all pointed back at the DTC. The giant financial institutions that mostly all sit on its board and the regulators that are asleep at the wheel, also on its board.