On this episode of Magic Internet Money, host Brad Mills invites fellow podcasters Max Keiser and Stacy Herbert onto the show to discuss the stock market fiasco caused by r/WallStreetBets. The group discusses how it resembles the 2008 housing bubble and other stock market crashes. Max passionately defends Millennials and Generation Z’s “right to compete”. Brad discussed the history of fraud that Wall Street bankers have dabbled in over the years and the fallout of those controversies and how they related to the Gamestop Short.
Time Stamps
00:00:19 - Intro
00:02:21 - Show start
00:04:10 - What is shorting?
00:11:20 - Why did Millennials buy GME?
00:16:18 - How GME resembles 2008
00:19:45 - The Bailout Chain
00:21:14 - Citadel, RobinHood, and how dominoes fall
00:24:00 - Occupy Wall Street in cyberspace
00:28:48 - Market rigging software
00:31:40 - London: the capital of fraud
00:35:18 - What could crash markets?
00:42:00 - Banking crisis
00:47:55 - How banks “killed Greece”
00:50:51 - “Bitcoin is the best way to do battle against crooks”
00:53:03 - Bitcoin vs “Shitcoins”
00:57:53 - “Attack on the Capital in cyberspace” and closing remarks
Links to Mentions in the Show
How are Melvin, Citadel, and RobinHood Related?
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Produced by Brad Mills - Twitter, Hamilton - YouTube, Jason Sanderson - Podcast Tech
Other Credits: bitconnect theme by schmoyoho, graphics by CryptoScamHub, Magic Internet Money inspired by u/mavensbot, invention of Bitcoin & all cryptocurrencies by Satoshi Nakamoto.