Update README.md

This is defunct. Removing to avoid confusion.

00-Getting-Started/2021-05-27-GME-Explained-for-New-Apes.md

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+GME explained for new apes
+==========================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/lawrgood](https://www.reddit.com/user/lawrgood/) | [Reddit](https://www.reddit.com/r/GME/comments/nm40vh/gme_explained_for_new_apes/) | 
+
+---
+
+[🔬 DD 📊](https://www.reddit.com/r/GME/search?q=flair_name%3A%22%F0%9F%94%AC%20DD%20%F0%9F%93%8A%22&restrict_sr=1)
+
+If you are new to the sub or have been struggling to wrap your head around the DD (due diligence), hopefully this can make things clearer.
+
+Why is GME's price changing?
+
+Short hedge funds (SHF) sold shares that they didn't own because they thought GME would go bankrupt.
+
+Think of it like an airline. There's only so many seats on the flight. The hedgies thought the flight was going to be cancelled so they printed some fake tickets and sold those too. Then the flight didn't get cancelled. Now, because there are only so many seats available, they need to stand at the gate and buy back the extra tickets, then rip them up so no-one tries to use them. It doesn't matter if that ticket was a real one or the fake one. They need to buy it and destroy it until only the original number remains.
+
+The problem is, everyone is really excited for the trip, so no-one wants to sell. So the price of the tickets is too high for the hedgies. Short term, they are printing even more tickets to give them cash to deal with the people at the front of the queue, but all that does is make the line longer. And there is still only the original number of seats on the plane.
+
+How can they sell shares that they don't own?
+
+If SHF think a stock will go down in price, they are allowed to locate and borrow shares from other people, sell them and try to buy them back later. To keep the metaphor going, they can give you a few bucks to hold your ticket and promise to sell it to me at today's price. Then if the price goes down they can buy it from you at the cheaper price to deliver to me.
+
+What we think has happened is, they didn't just borrow your ticket, they photocopied it and lent it to someone else at the same time as they sold it to me. As in, they lent out the shares they had borrowed. Because they have a few days to sort that out before anyone notices, they usually get away with it. Normally people buy and sell all the time so it gets lost in the noise.
+
+Isn't relending shares you've borrowed illegal?
+
+Yes. You aren't allowed to sell shares that don't exist. If you see the term "naked short selling" this is what they mean. There may be some misreporting going on to cover up the fact but punishments are relatively lean historically such as a proportionally small fine. There's been a lot of regulation changes in a short period of time which may be gearing up to deal with that.
+
+What's with the massive price spikes every so often?
+
+This is probably cyclical. If you see T+21 or T+35 mentioned this is referring to the time after a trade that they have to find that share they promised to give you. Market Makers get a little longer than your standard HF. Because shares are so hard to find, it could be that SHF have to keep kicking the can down the road. In our airline metaphor, this is them printing extra tickets. T+21 and T+35 would be the day that people are arriving to collect their tickets so the SHF needs to order more from the printers. The last week of May was when these two dates overlapped so lots of pressure to find shares to deliver.
+
+If the price keeps going up, who will pay?
+
+First the SHF has to buy back what they can from the market. If they run out of cash, the clearing house auction off all their stuff and buy back with that. If that's not enough, the clearing house is on the hook because they rubber stamped the trades. They can use the cash they have but, if they run out, they can ask for cash from their members.
+
+If that isn't enough, the DTCC is on the hook for failing to keep the records straight. If they run out of cash, it's down to the government for not intervening in the fraud soon enough. When it gets to this point, trillions will have been spent buying back shares.
+
+How long can they keep this going?
+
+No-one knows for sure. It seems that SHF are running low on money already. There have been massive sell offs across all their other holdings. This is why, when the market tanks, it's usually at the same time GME is doing well.
+
+There have been lots of rule changes too. The clearing houses are asking for more collateral (the money or assets that needs to be put up as assurance in order to keep or establish these short positions). They can also ask for reports more often and can force members to close their positions sooner.
+
+How do we know the SHF haven't bought back enough shares?
+
+There may be some misreporting going on. SHF's may be mislabeling short positions as long, not reporting them at all, or putting out press releases of how they have covered their positions. The fines for doing so are relatively minor, and if it means the difference between going bankrupt or getting another day to dig themselves out of a hole, there's a lot of incentive to cheat.
+
+There's been a large increase in whistleblower awards handed out by the SEC this year for information that leads to a penalty.
+
+The push to vote will shine a light on this. There is a shareholder meeting on June 9th and many have already voted. The vote count will give an insight into how many fake shares have been sold. Even this number will be lower than the true number. Remember that not all holders can/will vote.
+
+There are also other indicators that shares are hard to get hold of. Volumes traded each day have been declining meaning fewer shares are flying back and forth between traders. Shares have been harder to borrow than they were before.
+
+What's the company like?
+
+GME have had some great news lately. The incoming chairman is an e-commerce legend (Ryan Cohen) who is putting together a team to take the company into the future. He's already built a successful e-com company (Chewy) and is very customer focused with an eye for quality.
+
+The latest news is that they are developing an NFT to be built using Ethereum. This will allow for digital games to be traded in and resold. An NFT is an encrypted record of who owns a specific digital asset. When you buy a game download, a corresponding digital coin would be minted that says it belongs to you. If you want to sell it on, you could transfer ownership of that coin just like you do with bitcoin or Ethereum now.
+
+They also have no debt and $500+ million dollars in the bank.
+
+None of this is investment advice. Do not take advice from internet strangers. I am in no way qualified to give it. If you think I've got any part wrong, call me out in the comments. If you think I need to add something, ask. If you have more questions, I will try to answer but, I repeat, I know almost nothing.

00-Getting-Started/2021-07-08-For-New-Apes-This-is-What-Happened-Yesterday.md

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+For new Apes: This is what happened yesterday
+=============================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/derAres](https://www.reddit.com/user/derAres/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/og5llh/for_new_apes_this_is_what_happened_yesterday/) | 
+
+---
+
+
+[HODL 💎🙌](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22HODL%20%F0%9F%92%8E%F0%9F%99%8C%22&restrict_sr=1)
+
+![image](https://user-images.githubusercontent.com/82035192/125073276-b367d580-e089-11eb-9b97-7676cf51bfc8.png)

00-Getting-Started/2021-07-18-Small-Recap-of-GME.md

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+A small recap of GME - Shorts are fucked
+========================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/PowerRaptor](https://www.reddit.com/user/PowerRaptor/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/omk4ch/a_small_recap_of_gme_shorts_are_fucked/) | 
+
+---
+
+[HODL 💎🙌](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22HODL%20%F0%9F%92%8E%F0%9F%99%8C%22&restrict_sr=1)
+
+*The list below is how I understand the events of GME based on the DD I've read across all investment subreddits, but especially this one. Correct me if I get any parts wrong, and I'll edit*
+
+* * * * *
+
+* * * * *
+
+The Recap:
+
+1) Hedge funds colluded with market makers to short GME over 140% and likely over 200%
+
+* * * * *
+
+2) Hedge funds have not closed these shorts, but only hidden them in options chains, so they don't need to be reported, and have since moved on to short the stock through ETFs and other mechanics.
+
+(Short the ETF and buy every share in it except for GME, to effectively just short GME EDIT: *or as *[u/dubaicurious](https://www.reddit.com/u/dubaicurious/)* explains, borrow ETFs, break them down into individual shares, and sell the GME*) This is not reportable as a GME short, hiding the true SI%.
+
+This Friday, 430K (43 million shares) Deep OTM Puts expired, which were previously used to hide 43 million short shares. With this expiry, the shorts should show back up on hedge funds' books and require margin coverage, unless they deliver all of them through other mechanisms.
+
+* * * * *
+
+3) Lawsuits allege over 200% SI in january (at 100m shares), which was at the time well above the legal limit of 140% (source needed). This corresponds to what users in this subreddit can support using options data from January (Deep ITM calls and deep OTM puts at the same strike price)
+
+* * * * *
+
+4) Buy orders vastly outnumber sell orders, some days over 7:1 ratio, and apes know short hedge funds *must* buy back GME shares to close their debt. Similarly, since the price stays stable or even drops, the logical explanation is that hedge funds continue to naked short GME to avoid the price exploding upwards.
+
+* * * * *
+
+5) GME has not yet announced a dividend, but has revealed in their market offering prospectus that they may give a non-cash dividend. This could make it very hard for the DTC to distribute said dividend, at which point Gamestop may move their shares out of the DTC. This could trigger a short squeeze.
+
+-   Similarly, as hedge funds keep shorting GME, if there's a financial crash, their collateral used as margin to allow their short position may drop significantly in value, and it may no longer cover their margin requirements - this could trigger a short squeeze.
+
+-   Third, new regulations may make it tougher to hide shorts through obscure mechanisms, and put a more realistic or accurate number on their books, which would increase their margin requirements drastically - this could trigger a short squeeze.
+
+-   If the price drops significantly (say to $50 or less), Gamestop could announce a share buyback, and use some of their cash they got from the ATM share offerings to buy back more shares than they sold - this would reduce the free tradable float and spike the relative SI%. Similarly, the buy pressure from retail would increase drastically - this could trigger a short squeeze.
+
+-   If hedge funds keep selling naked shorts, eventually the SI%, hidden or not, will be so high that they will fail any factual liquidity check. Similarly even a cash dividend, they'd be required to pay out many times over, which would eat into their liquidity. This could trigger a short squeeze.
+
+-   As Ryan Cohen keeps developing Gamestop into the business it deserves to be - an online powerhouse poised to compete with Amazon, the straight up fundamental value of the stock will so obviously be above what it's currently trading at, that buy pressure increases drastically, on a global scale. This could trigger a short squeeze.
+
+* * * * *
+
+TL;DR
+
+*So long as people refuse to sell their shares, shorts cannot avoid any of these risks, and cannot close their debt. They have a foot in the beartrap and there's hungry wildlife around.*
+
+Shorts are super duper fucked
+
+* * * * *
+
+Did I get this right?
+
+*this is not financial advice*

00-Getting-Started/Basic-Education/2021-05-21-Cost-Basis-and-Trade-Price-Issues.md

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+Cost basis and trade price issues
+=================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/dlauer](https://www.reddit.com/user/dlauer/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nhtt04/cost_basis_and_trade_price_issues/) | 
+
+---
+
+[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
+
+Hi everyone,
+
+There have been a lot of posts recently on these two subjects - crazy cost basis reports when transferring out of Robinhood, and some anecdotal reports (or maybe just a single report?) about some fractional share executions outside of the NBBO. I've made some comments on those threads but I thought it might be helpful to put everything together in one place.
+
+First, I don't mean to throw cold water on these theories all the time, or to constantly be talking about technical glitches. But I have seen how many of these systems work, and it's also common sense to think about incentives - firms invest in technology that makes them money (like trading), and they don't invest in technology for cost centers (like record keeping and compliance). Front office trading systems are sophisticated and high-performance. Back office record keeping systems are often ancient, and always under-invested in. This is especially true when regulatory fines are little more than a cost of doing business / slap on the wrist.
+
+If you want to see this in action, just go to [FINRA BrokerCheck](https://brokercheck.finra.org/) and search for a broker. As I explained in another comment: " Lookup a broker and start looking at their violations (I've done this systematically in the past when evaluating broker dark pool enforcement action risk for institutional asset managers). It's a constant stream of OATS violations (the Order Audit Trail System is a record of all orders and trades that a broker reports to FINRA, being replaced by the CAT), order marking violations, failure to produce trade records, mistakes with order flag records, etc. A constant stream of technology problems. I even [presented](https://www.sec.gov/comments/4-652/4652-32.pdf) to the SEC on this after the Knight Capital incident 9 years ago." This is not meant, in any way, to excuse the behavior. Record keeping mistakes should honestly be criminal - without accurate records, regulators can't do their jobs. So under-investment in compliance and record keeping systems makes sense in both ways for these firms - the fines are paltry, and if they're trying to avoid detection, shitty record quality is a feature, not a bug.
+
+Now, all of that being said - for those of you who have gotten these insane cost bases when transferring out of Robinhood - [file a whistleblower complaint](https://www.sec.gov/whistleblower). Seriously, this is your best course of action. If there is, in fact, a systematic problem with Robinhood back office systems, and the SEC goes in and fines them, you could get a cut of that. You might think it's just GME, but it's very likely that it affects other stocks too. And keep good records of your trades for filing taxes so that these mistakes by RH don't affect you.
+
+Next, on the topic - I have no idea why you're seeing insane fractional share cost bases when transferring, especially when you didn't buy fractional shares. I have no good explanation for it. My assumption is that it's a result of under-investment in back office technology. I can't possibly see how it is a reflection of any actual trading though. Keep in mind that these are tax records - they are not trade reports. There's a big difference. And even though these records appear to be all messed up, it doesn't really mean that any trades were executed at that price. For those of you who did transact in fractional shares, you have to also know that there is very little regulation around fractional shares. Fractions are not reported to the tape/market, and while firms are under a best execution obligation, that obligation is hardly enforced at all. So most of the rules I talk about are kind of thrown out the door when dealing with fractional shares, because they are not really considered within the current regulatory structure. I would also caution that any fractional shares traded outside of regular trading hours (9:30am ET - 4pm ET) can likely trade at any price, and I would never execute a trade like that.
+
+Ok, finally let's talk about the NBBO and tradethroughs. As I've explained before, the National Best Bid and Offer is the best price in the market, and is protected during regular trading hours. This means that brokers, off-exchange trading systems, and exchanges have safeguards in place to ensure that trades are not executed outside the NBBO. This system is not perfect. A while back there was an effort to have more disclosure for retail brokers and internalizers by the FIF. That has mostly stopped since the new Rule 606 was passed, but I found that Fidelity is [still disclosing](https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/FIF-FBS-retail-execution-quality-stats.pdf) these extra stats. You can see that for most orders, 98% - 99% of the shares get executed at or better than the NBBO:
+
+[![r/Superstonk - Cost basis and trade price issues](https://preview.redd.it/dxc1kgm6eh071.png?width=744&format=png&auto=webp&s=ec0406b878fc475b756bc9328618b6c9f8142940)](https://preview.redd.it/dxc1kgm6eh071.png?width=744&format=png&auto=webp&s=ec0406b878fc475b756bc9328618b6c9f8142940)
+
+Why isn't it 100%? Generally speaking, it's because there aren't enough shares available at that price. If there's only 100 shares on the best offer, and you want to buy 200 shares, you're not guaranteed to get them all executed at the offer (although wholesalers like Citadel talk a lot about size improvement along with price improvement, but that's an entirely different conversation about how they goose and manipulate those metrics). Citadel stopped providing these reports in 2019, but you can see that back then [theirs looked similar](https://s3.amazonaws.com/citadel-wordpress-prd101/wp-content/uploads/sites/2/2016/09/09175131/FIF-Rule-605-606-WG-CitadelSecurities_Retail-Execution-Quality-Stats_Q1_2019.pdf).
+
+Now, I cannot speak to anecdotes - I can only deal with data. I know there are claims about some crazy execution prices out there. I can assure you that these are not systematic issues, but it's always possible that there are crazy trades. That's why FINRA and the exchanges have [Clearly Erroneous rules](https://www.finra.org/rules-guidance/rulebooks/finra-rules/11892). This rule would not exist if it wasn't needed, and when I traded we had to invoke it at times. Sometimes crazy trades happen. When they do, alerts go off, and you get them busted. Remember that for every trade there's someone on the other side of it, and if you got to sell some GME at $2600, that means someone is on the hook to pay that. That person would be incentivized to have that trade busted, and has recourse to do so.
+
+Ok, finally some have questioned why I generally assume Hanlon's Razor - don't ascribe to malice that which can be explained by incompetence. I'm not as quick to accuse anyone of criminality as others. I'm comfortable with that. I'm a scientist, and I need to see data. When I see it, and it's convincing, then I'm comfortable making serious accusations. If that's naive, I'm ok with that. It doesn't make me fight any less to improve markets, and to improve transparency and access to data, so that we can have informed conversations and debates. And as you'll see in an article I have coming out soon, it doesn't make me hesitant to fight Big Tech when there's a serious fight to be had (you have to keep in mind that most of my day job is focused on tech and AI these days). But it does drive me to wait on convincing data before making such accusations. That's my style, and it's not for everyone.
+
+I hope this is helpful. I'll keep trying to answer questions when I can. Market structure is extremely complex, and even when trying to explain it, it's tough to distill it into something understandable when you haven't been immersed in it.

00-Getting-Started/Basic-Education/2021-05-21-Margin-Calls-vs-Forced-Liquidation.md

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+MARGIN CALL VS. FORCED LIQUIDATION
+==================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/Dwellerofthecrags](https://www.reddit.com/user/Dwellerofthecrags/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/ni0xmw/margin_call_vs_forced_liquidation/) | 
+
+---
+
+[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
+
+Over the past several weeks I've noticed several posts or comments that lead me to believe there may be a bit of a misunderstanding about what a MARGIN CALL is. Because I love all of my fellow HODLers, I am not going to single out any of the posts or comments.
+
+[![r/Superstonk - MARGIN CALL VS. FORCED LIQUIDATION](https://preview.redd.it/x6wbwddgzi071.jpg?width=800&format=pjpg&auto=webp&s=b65d44ff3b998ee4f2dcd65212a83312771ac210)](https://preview.redd.it/x6wbwddgzi071.jpg?width=800&format=pjpg&auto=webp&s=b65d44ff3b998ee4f2dcd65212a83312771ac210)
+
+https://pbs.twimg.com/media/ERNu7C-W4AAleb4.jpg
+
+I know that I, like many of you, have added a bunch a wrinkles since January thanks to many of the brilliant Apes writing DD and the Silverbacks coming and doing AMAs and I'm hoping that you, like me, never get tired of adding more. Since there seems to be a little bit of a misunderstanding about what a margin call actually is, I thought it would be good to provide some clarification and add a few more wrinkles to all of our smooth brains.
+
+Also, if you're looking for a way to pass the time while waiting for the MOASS, I suggest reading through <https://www.investopedia.com/>. There's seriously a ton of ELIA information about investing and the market. This is of course after you catch-up on any of the [AMAs](https://www.youtube.com/channel/UCI4EET9NJPWxUuXGlG6fxPA), [Dr. T's book](https://www.amazon.com/Naked-Short-Greedy-Streets-Failure-ebook/dp/B08XXXRH7T/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=), and the essential market related movies (MARGIN CALL, The Big Short, The Wall Street Conspiracy, Boiler Room, Wolf of Wall Street, etc.)
+
+Now for what you came here for:
+
+What is a margin call?
+
+Generic definition: ["A margin call is a request for additional collateral when a trader's position or investment drops in value."](https://qz.com/1991073/how-many-funds-are-a-margin-call-away-from-failing-like-archegos/)
+
+This is more of a description of how it works between a retail investor and broker but the principle is the same:
+
+["A margin call occurs when the value of a margin account falls below the account's maintenance margin requirement. It is a demand by a brokerage firm (lender/Bank) to bring the margin account's balance up to the minimum maintenance margin requirement. To satisfy a margin call, the investor (Borrower/Hedge Fund/Institution) of the margin account must either deposit additional funds, deposit unmargined securities, or sell (close) current positions."](https://corporatefinanceinstitute.com/resources/knowledge/trading-investing/margin-call/)
+
+More in depth description about what a margin call is here: <https://www.investopedia.com/terms/m/margincall.asp>
+
+TL;DR: A margin call is the notice that a borrower's collateral has become inadequate for their current investment position. They must either deposit more collateral or close a portion of their "at risk" positions. It is not a forced closeout. A forced closeout is what happens if the borrower is unable to satisfy the margin call. As long as a borrower is continually able to satisfy the requirements of the margin call(s), they are able to keep their position.
+
+> *SPECULATION: This explains why we are seeing so many "Pump & Dumps" of securities that Citadel & Friends have positions in. They're printing money off of these other SCAMS in order to satisfy the margin requirements for the positions they currently hold while they string them out to try to slowly unwind them over time.*
+
+DO NOT DAY TRADE GME! DO NOT FALL FOR ANY OF THESE OTHER PUMPED SECURITIES/CRYPTO! DON'T FEED THE BEARS, THEY'LL EAT YOU!
+
+[![r/Superstonk - MARGIN CALL VS. FORCED LIQUIDATION](https://preview.redd.it/msscs7u5ij071.jpg?width=960&format=pjpg&auto=webp&s=0b0bc230858c6cce5120bc04910073938c0d0528)](https://preview.redd.it/msscs7u5ij071.jpg?width=960&format=pjpg&auto=webp&s=0b0bc230858c6cce5120bc04910073938c0d0528)
+
+https://i.redd.it/9llkyh6lvo141.jpg
+
+[What is Forced Liquidation?](https://www.investopedia.com/terms/f/forcedliquidation.asp)
+
+Basic Definition:
+
+"Forced selling or forced liquidation usually entails the involuntary sale of assets or securities to create liquidity in the event of an uncontrollable or unforeseen situation."
+
+"Within the investing world, if a margin call is issued and the investor is unable to bring their investment up to the minimum requirements, the broker has the right to sell off the positions."
+
+THIS IS THE SPECIFIC TYPE OF LIQUIDATION WE ARE WAITING FOR:
+
+"The opposite of forced selling in a margin account is a forced buy-in. This occurs in a short seller's account when the original lender of the shares recalls them or when the broker is no longer able to borrow shares for the shorted position. When a forced buy-in is triggered, shares are bought back to close the short position. The account holder might not be given notice prior to the act."
+
+[![r/Superstonk - MARGIN CALL VS. FORCED LIQUIDATION](https://preview.redd.it/k7xbxtn60j071.jpg?width=500&format=pjpg&auto=webp&s=39079ad5c8e5f5054c711212c0045fa5ba28b747)](https://preview.redd.it/k7xbxtn60j071.jpg?width=500&format=pjpg&auto=webp&s=39079ad5c8e5f5054c711212c0045fa5ba28b747)
+
+https://news.ewingirrigation.com/wp-content/uploads/2015/07/MISC-Ice-Melting1.jpg
+
+TL;DR: Margin Calls are merely steps towards what we really want...a forced buy-in! As long as the shorts continue to meet margin requirements, they will be able to continue to kick the can down the road. A price spike that pushes them beyond their ability to meet the margin requirements, a massive depreciation of their other positions, or regulatory action is needed to trigger the forced selling.
+
+This is the way to MOASS:
+
+1.  BUY & HODL GME
+
+2.  STOP BUYING OTHER GIMICKS/DAY-TRADING/ETC. (Don't feed the bears)
+
+3.  WAIT PATIENTLY FOR FORCED BUY-IN, MARGIN CALLS ARE JUST STEPS TOWARDS THAT END. WHEN SHORTS CAN NO LONGER MEET THE CALL...
+
+🚀🚀 🚀🚀 🚀🚀 🚀🚀
+
+*Let me know if I missed anything...*
+
+Edit: added #DontFeedTheBears
+
+Edit 2: [u/InvincibearREAL](https://www.reddit.com/u/InvincibearREAL/) pointed out that I forgot to include the most obvious movie to be watched (especially considering the post topic): Margin Call ... so I added it to the list
+
+Edit 3: The best TL;DR in ape language courtesy of [u/cryptocached](https://www.reddit.com/u/cryptocached/)
+
+"Margin call is a shart. It stinks and can be a little messy, but it's really just a warning. If you don't heed that warning and take care of your business in a timely fashion, you'll shit your pants in a forced liquidation."
+
+Edit 4: Created [visual TL;DR Post](https://www.reddit.com/r/Superstonk/comments/ni9oc1/margin_call_vs_forced_liquidation_in_ape_ape/)

00-Getting-Started/Deep-Fucking-Value-series-by-Meticulous/2021-07-02-Wealth-Management-DD-Compilation.md

@@ -0,0 +1,26 @@
+Wealth Management DD Compilation
+================================
+
+[𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲](https://www.reddit.com/r/DDintoGME/search?q=flair_name%3A%22%F0%9D%97%A5%F0%9D%97%B2%F0%9D%98%80%F0%9D%97%BC%F0%9D%98%82%F0%9D%97%BF%F0%9D%97%B0%F0%9D%97%B2%22&restrict_sr=1)
+
+1\. Overview and TLDR
+
+I have been compiling, organizing, and archiving important and relevant GME content on [Github](https://github.com/verymeticulous/wikAPEdia#readme) since early 2021.
+
+Below is a list of due diligence on how to manage yourself and your tendies before, during, and post-MOASS.
+
+2\. Resources
+
+If I am missing any useful wealth-management posts, please share them!
+
+| Name | Description | Author |
+| --- | --- | --- |
+| [MOASS Preparation Guide](https://github.com/verymeticulous/wikAPEdia/tree/main/01-Must-Read/MOASS-Preparation-Guide-by-socrates6210) | In-depth guide on steps to take pre-liftoff, during MOASS, and what to do in the aftermath. | [u/socrates6210](https://www.reddit.com/u/socrates6210/) |
+| [Tax Cheat Sheet](https://github.com/verymeticulous/wikAPEdia/tree/main/Managing-Wealth/Tax-Cheat-Sheet-series-by-areallygoodsandwhich) Series | Tax advice on Income, Deductions, IRAs, and CPAs. | [u/areallygoodsandwhich](https://www.reddit.com/u/areallygoodsandwhich/) |
+| [Financial Tips for the Suddenly Wealthy](https://www.reddit.com/r/GME/comments/m6lyid/financial_tips_for_the_suddenly_wealthy/) | Useful tips for Taxes, Insurance, Legal Advice, Investing, etc. | [u/Minako_mama](https://www.reddit.com/u/Minako_mama/) |
+| [How to Keep Your Newly Minted Title of Millionaire](https://www.reddit.com/r/GME/comments/manjyo/how_to_keep_your_newly_minted_title_of/) | Guide to protecting yourself and your wealth. | [u/Exact-Introduction-5](https://www.reddit.com/u/Exact-Introduction-5/) |
+| [What to do with your Tendies - From a Financial Advisor](https://www.reddit.com/r/GME/comments/mefwc7/what_to_do_with_your_tendies_from_a_financial/) | Advice on taxes, savings, paying off debt, and long-term investing. | [u/docpapas](https://www.reddit.com/u/docpapas/) |
+| [Guide/Checklist to Getting your Legal Affairs in Order](https://www.reddit.com/r/Superstonk/comments/mtwxuo/checklist_a_quick_and_dirty_guide_to_getting_your/) | Checklist to ensure your wealth is handled appropriately. | [u/rddtf](https://www.reddit.com/u/rddtf/) |
+| [MOASS Checklist](https://github.com/verymeticulous/wikAPEdia/tree/main/Managing-Wealth/MOASS-Checklist-by-2008UniGrad) | Step-by-step guide for pre, during, and post-MOASS. | [u/2008UniGrad](https://www.reddit.com/u/2008UniGrad/) |
+
+*Check out the* [Managing-Wealth](https://github.com/verymeticulous/wikAPEdia/tree/main/Managing-Wealth) *section on* [wikAPEdia](https://github.com/verymeticulous/wikAPEdia) *for more DD!*

00-Getting-Started/Deep-Fucking-Value-series-by-Meticulous/2021-07-20-Compilation-of-Serious-Must-Read-DD.md

@@ -0,0 +1,62 @@
+Deep Fucking Due Diligence - Compilation of Serious/Must Read DD
+================================================================
+
+[DD 👨‍🔬](https://www.reddit.com/r/GMEJungle/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+| Last Updated | July 21, 2021 |
+| --- | --- |
+
+0\. TLDR
+
+I have been compiling, organizing, and archiving relevant GME content on [Github](https://github.com/verymeticulous/wikAPEdia#readme) since early 2021. Below is a list of some of the most important due diligence created by apes with many more wrinkles than I.
+
+For new and curious apes that stumble upon wikAPEdia, I encourage you to read the content from the source site. This resource would not have been able to be created if it weren't for the many intelligent apes who have worked tirelessly to create their posts and deserve your upvote!
+
+1\. Overview
+
+I realize that the table below does not entail all serious or important DD. If there's content that you think should be added, please let me know.
+
+2\. Resources
+
+| Published Date | Title | Author |
+| --- | --- | --- |
+| 2020-07-27 | [100%+ Short Interest in GameStop stock (GME) - Fundamental & Technical Deep Value Analysis](https://www.youtube.com/watch?v=GZTr1-Gp74U&t=1s) | [u/DeepFuckingValue](https://www.reddit.com/u/DeepFuckingValue/) |
+| 2021-03-13 | [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/) | [u/atobitt](https://www.reddit.com/u/atobitt/) |
+| 2021-03-30 | [The EVERYTHING Short](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/) | [u/atobitt](https://www.reddit.com/u/atobitt/) |
+| 2021-03-30 | [Naked Shorting Scam](https://github.com/verymeticulous/wikAPEdia/tree/main/01-Must-Read/The-Naked-Shorting-Scam-by-broccaaa) Series | [u/broccaaa](https://www.reddit.com/u/broccaaa/) |
+| 2021-04-05 | [Why We Are Trading Sideways](https://github.com/verymeticulous/wikAPEdia/tree/main/01-Must-Read/Why-We-Are-Still-Trading-Sideways-by-c-digs) Series | [u/c-digs](https://www.reddit.com/u/c-digs/) |
+| 2021-04-06 | [Walkin' Like a Duck Talkin' Like a Duck](https://github.com/verymeticulous/wikAPEdia/tree/main/01-Must-Read/Walking-Like-a-Duck-Talking-Like-a-Duck-by-atobitt) | [u/atobitt](https://www.reddit.com/u/atobitt/) |
+| 2021-04-11 | [Chaos Theory](https://github.com/verymeticulous/wikAPEdia/tree/main/01-Must-Read/Chaos-Theory-by-sharkbaitlol) Series | [u/sharkbaitlol](https://www.reddit.com/u/sharkbaitlol/) |
+| 2021-04-21 | [House of Cards](https://github.com/verymeticulous/wikAPEdia/tree/main/01-Must-Read/House-of-Cards-by-atobitt) Series | [u/atobitt](https://www.reddit.com/u/atobitt/) |
+| 2021-04-22 | [Go / No Launch Checklist](https://www.reddit.com/r/Superstonk/comments/nhh0f1/update_go_nogo_for_launch_the_checklist_keeping/) | [u/nothingbuttherainsir](https://www.reddit.com/u/nothingbuttherainsir/) |
+| 2021-05-01 | [Ultimate DD Guide to the Moon](https://github.com/verymeticulous/wikAPEdia/tree/main/DD/The-Ultimate-DD-Guide-to-the-Moon-by-sydneyfriendlycub) Series | [u/sydneyfriendlycub](https://www.reddit.com/u/sydneyfriendlycub/) |
+| 2021-05-07 | [Danger Zone](https://github.com/verymeticulous/wikAPEdia/tree/main/01-Must-Read/Danger-Zone-by-Criand) Series | [u/Criand](https://www.reddit.com/u/Criand/) |
+| 2021-05-09 | [Compilation of Market Manipulation Tactics](https://www.reddit.com/r/Superstonk/comments/n8mizw/here_is_a_complete_compilation_documenting_the/) | [u/Golden_D9](https://www.reddit.com/u/Golden_D9/) |
+| 2021-05-23 | [We're All Fucked](https://www.reddit.com/r/Superstonk/comments/nj1guf/were_all_fucked/) | [u/CoffeeLaxative](https://www.reddit.com/u/CoffeeLaxative/) |
+| 2021-05-24 | [GME Masters' Guide](https://www.reddit.com/r/Superstonk/comments/njwv6n/the_gme_masters_guide_a_dd_campaign_for_apes/) | [u/Blanderson_Snooper](https://www.reddit.com/u/Blanderson_Snooper/) |
+| 2021-06-05 | [Definitive Guide about Naked Shorting](https://www.reddit.com/r/Superstonk/comments/nt0ojl/everything_superstonk_knows_about_naked_shorting/) | [u/sharkbaitlol](https://www.reddit.com/u/sharkbaitlol/) |
+| 2021-06-05 | [Where are the Shares](https://github.com/verymeticulous/wikAPEdia/tree/main/01-Must-Read/Where-Are-the-Shares-by-leavemeanon) Series | [u/leavemeanon](https://www.reddit.com/u/leavemeanon/) |
+| 2021-06-07 | [Hank's Big Bang: Quant Apes Glitch the Simulation](https://www.reddit.com/r/Superstonk/comments/nu9qq9/hanks_big_bang_quant_apes_glitch_the_simulation/) | [u/HomeDepotHank69](https://www.reddit.com/u/HomeDepotHank69/) |
+| 2021-06-10 | [GME MOASS Thesis Summary 2.0](https://www.reddit.com/r/Superstonk/comments/nwqaj0/gme_moass_thesis_summary_20_summarization_of_the/) | [u/HCMF_MaceFace](https://www.reddit.com/u/HCMF_MaceFace/) |
+| 2021-06-15 | [The Bigger Short](https://www.reddit.com/r/Superstonk/comments/o0scoy/the_bigger_short_how_2008_is_repeating_at_a_much/) | [u/Criand](https://www.reddit.com/u/Criand/) |
+| 2021-06-15 | [In Death by 1000 Cuts, SHF Just Received their 999 Cut](https://www.reddit.com/r/Superstonk/comments/o0mn0y/in_death_by_1000_cuts_shf_just_received_their_999/) | [u/No1Important_4real](https://www.reddit.com/u/No1Important_4real/) |
+| 2021-06-18 | [The Sun Never Sets on Citadel](https://github.com/verymeticulous/wikAPEdia/tree/main/01-Must-Read/Sun-Never-Sets-on-Citadel-by-swede-child-of-mine) Series | [u/swede_child_of_mine](https://www.reddit.com/u/swede_child_of_mine/) |
+| 2021-06-21 | [Fed is Pinned into a Corner from 2008 Can-Kicking](https://www.reddit.com/r/Superstonk/comments/o4rfnu/the_fed_is_pinned_into_a_corner_from_the_2008/) | [u/Criand](https://www.reddit.com/u/Criand/) |
+| 2021-06-22 | [The Long Con](https://pdfhost.io/v/O.YHbvSRP_TLC_THE_LONG_CON_The_markets_are_frothing_with_liquiditypdf.pdf) | [u/Con101smd](https://www.reddit.com/u/Con101smd/) |
+| 2021-06-22 | [Through the Looking Glass](https://pdfhost.io/v/KhuW5HZ~N_THROUGH_THE_LOOKING_GLASS.pdf) | [u/Con101smd](https://www.reddit.com/u/Con101smd/) |
+| 2021-06-22 | [Updated TLDR of Regulations](https://www.reddit.com/r/Superstonk/comments/o5mhie/tldr_regulations_edition_updated_20210622_to/) | [u/stevetheimpact](https://www.reddit.com/u/stevetheimpact/) inspired by [u/MATTATI2OO5](https://www.reddit.com/u/MATTATI2OO5/) |
+| 2021-07-02 | [More Evidence Pointing to the use Deep ITM CALLs and Deep OTM PUTs to hide SI](https://www.reddit.com/r/Superstonk/comments/oc4f79/well_there_it_is_more_mathevidence_pointing_to/) | [u/Criand](https://www.reddit.com/u/Criand/) |
+| 2021-07-14 | [A Castle of Glass](https://www.reddit.com/r/Superstonk/comments/ok2e0b/a_castle_of_glass_game_on_anon/) | [u/3for100Specials](https://www.reddit.com/u/3for100Specials/) |
+| 2021-07-19 | [OTM PUTs are Passed Puck of Short Positions & Price Movements are around Monthly Options](https://www.reddit.com/r/DDintoGME/comments/on9fnx/otm_puts_are_the_passed_puck_of_short_positions/) | [u/Criand](https://www.reddit.com/u/Criand/) |
+
+*For more important DD and other relevant GME content, check out* [wikAPEdia](https://github.com/verymeticulous/wikAPEdia#readme)*!*
+
+Disclaimer: I am not a financial advisor, nor is this financial advise. I'm just an ape who has OCD and likes to organize things.
+
+Edit 1: Added [u/sydneyfriendlycub](https://www.reddit.com/u/sydneyfriendlycub/)'s ultimate DD Guide to the Moon series
+
+Edit 2: Removed outdated/defunct due diligence
+
+Edit 3: Added [u/Criand](https://www.reddit.com/u/Criand/)'s More Math/Evidence that SHFs are hiding SI post
+
+Edit 4: Updated [u/HCMF_MaceFace](https://www.reddit.com/u/HCMF_MaceFace/)'s GME MOASS Thesis Summary to the latest version

00-Getting-Started/Deep-Fucking-Value-series-by-Meticulous/2021-07-20-Resources.md

@@ -0,0 +1,59 @@
+Deep Fucking Resources - Compilation of Tools, Websites, and other Information
+==============================================================================
+
+[Resource 🔬](https://www.reddit.com/r/GMEJungle/search?q=flair_name%3A%22Resource%20%F0%9F%94%AC%22&restrict_sr=1)
+
+| Last Updated | July 21, 2021 |
+| --- | --- |
+
+0\. Preface
+
+This is a follow up to [u/Truffluscious](https://www.reddit.com/u/Truffluscious/)'s resources page.
+
+Disclaimer: This is not financial advise, nor am I a financial advisor. I just have OCD and like to organize things.
+
+1\. Overview
+
+Since January, I have been saving, bookmarking, and archiving important GME content and relevant information on [Github](https://github.com/verymeticulous/wikAPEdia#readme) to both organize what I've learned and read, and create a backup in case the internet breaks.
+
+Below is a list of websites, tools, and resources that have been used to create DD and other GME-content.
+
+If I am missing any useful or relevant tools, please share them so that I can update this post and [wikAPEdia](https://github.com/verymeticulous/wikAPEdia#readme) for new and curious apes in the future.
+
+Also, if I missed giving credit to the creators of these tools, please let me know as well!
+
+Hope this helps!
+
+2\. Resources
+
+| Name | Description |
+| --- | --- |
+| [GME DD](https://gmedd.com/) | Resource that aggregates a compilation of GME due diligence. |
+| [GME Timeline](https://gmetimeline.com/) | Comprehensive timeline of GME-related events. |
+| [GME Technical Analysis](https://www.investing.com/equities/gamestop-corp-technical) | Tracks technical analysis, news, and other insights for a particular stock. |
+| [IBorrowDesk](https://iborrowdesk.com/report/GME) | Monitors borrow rates and availability using Interactive Broker's freely available data. |
+| [Stonk-O-Tracker](https://gme.crazyawesomecompany.com/) | Tracks available shares to borrow, options data, FTDs, and more. |
+| [Where are the Shares?](https://wherearetheshares.com/) | Tool that monitors FTDs. |
+| [SEC - Fails-to-Deliver Data](https://www.sec.gov/data/foiadocsfailsdatahtm) | Website that provides FTD data. |
+| [GME ETFs](https://www.etf.com/stock/GME) | Tracks how many ETFs hold GME. |
+| [ETF Channel](https://www.etfchannel.com/symbol/gme/) | Website that shows ETF holdings of a particular stock. |
+| [NASDAQ Short Interest](https://www.nasdaqtrader.com/Trader.aspx?id=ShortInterest#) | Provides short interest data for mid-month and end of month settlement dates for a particular stock. |
+| [Ortex - Short Interest](https://www.ortex.com/symbol/NYSE/GME/short_interest) | Dashboard that show short interest data. |
+| [NASDAQ - Real Time Trades](https://www.nasdaq.com/market-activity/stocks/gme/latest-real-time-trades) | Tool to monitor real time trades. |
+| [S&P 500 Heatmap](https://finviz.com/map.ashx) | Website that allows you to observe when Hedge Funds are liquidating in which sector(s). |
+| [Holdings Channel](https://www.holdingschannel.com/bystock/?symbol=gme) | Displays a list of funds holding GME. |
+| [Fintel - GME Institutional Ownership](https://fintel.io/so/us/gme) | Dashboard that shown ownership data, short interest %, and other reports. |
+| [FINRA - Morningstar](http://finra-markets.morningstar.com/MarketData/EquityOptions/detail.jsp?query=14%3A0P000002CH&sdkVersion=2.60.0) | Tracks equity and options data along with other information. |
+| [Yahoo - GME Historical Data](https://finance.yahoo.com/quote/GME/history?p=GME) | Shows a running history of GME previous open and closing prices, volume, etc. |
+| [Tiingo - GME Overview](https://www.tiingo.com/gme/overview) | A financial research platform dedicated to creating innovative financial tools for all. |
+| [Superstonk Quants](https://www.superstonkquant.org/) | Open-source resource that aims to provide quantitative analysis on the market. |
+| [Quiver Quantitative](https://www.quiverquant.com/) | Website created by [u/pdwp90](https://www.reddit.com/u/pdwp90/) that aggregates alternative data and visualizes it into dashboards. Read more [here](https://www.reddit.com/r/Superstonk/comments/mlevq3/ive_been_scraping_data_used_by_hedge_funds_for/). |
+| [Gamestonk Terminal](https://www.reddit.com/r/DDintoGME/comments/mxl0co/move_over_bloomberg_terminal_here_comes_gamestonk/) | Bloomberg-like Terminal created by [u/SexyYear](https://www.reddit.com/u/SexyYear/) |
+| [Stockgrid - Dark Pool Data](https://www.stockgrid.io/darkpools) | Dashboard that shows dark pool data. |
+| [NASDAQ - Reg SHO Threshold List](https://www.nasdaqtrader.com/Trader.aspx?id=RegSHOThreshold) | List that displays securities that are currently on threshold. |
+| [Repo and Reverse Repo Operations](https://apps.newyorkfed.org/markets/autorates/tomo-results-display?SHOWMORE=TRUE&startDate=01/01/2000&enddate=01/01/2000) | Tracks ON-RRP and participants daily. |
+| [Buffet Indicator](https://currentmarketvaluation.com/models/buffett-indicator.php) | Resource that depicts when the market is overvalued or undervalued. |
+| [Advisor Perspectives](https://www.advisorperspectives.com/dshort/updates/2021/06/04/the-s-p-500-dow-and-nasdaq-since-their-2000-highs) | Shows inflation-adjusted charts of the S&P 500, Dow 30, and Nasdaq. |
+| [DTCC - SEC Rule Filings](https://www.dtcc.com/legal/sec-rule-filings) | Lists rule filings from major institutions. |
+| [US Senate Stock Watcher](https://senatestockwatcher.com/) | Website created by [u/rambat1994](https://www.reddit.com/u/rambat1994/) that tracks stock trades of US Senate Members. |
+| [US House of Representatives Stock Watcher](https://housestockwatcher.com/) | Website created by [u/rambat1994](https://www.reddit.com/u/rambat1994/) that tracks stock trades of US House of Representatives. |

00-Getting-Started/Explain-with-Crayons-series-by-AaronJamesArq/2021-05-24-What-is-Naked-Shorting.md

@@ -0,0 +1,30 @@
+Explain w/ Crayons Series: What is Naked Shorting? Indicators GME is Being Naked Short
+======================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/AaronJamesArq](https://www.reddit.com/user/AaronJamesArq/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nk40b6/explain_w_crayons_series_what_is_naked_shorting/) | 
+
+---
+
+[Discussion 🦍](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Discussion%20%F0%9F%A6%8D%22&restrict_sr=1)
+
+![image](https://user-images.githubusercontent.com/82035192/123514720-579d5580-d662-11eb-82f1-8f6094375a05.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514724-5cfaa000-d662-11eb-8a3c-f3995878af2b.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514728-608e2700-d662-11eb-9fd5-5583011f712a.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514738-63891780-d662-11eb-8996-4472d50c5a94.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514741-66840800-d662-11eb-889d-1c7c34f5b977.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514746-6a178f00-d662-11eb-93fc-8d839161dc8b.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514749-6d127f80-d662-11eb-96c4-35cabf514d4e.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514751-6f74d980-d662-11eb-8ace-953e43984450.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514753-726fca00-d662-11eb-8ad7-236cdd510d0e.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514757-74d22400-d662-11eb-9a24-847fae400cc2.png)

00-Getting-Started/Explain-with-Crayons-series-by-AaronJamesArq/2021-05-25-Fundamentals-of-GME.md

@@ -0,0 +1,31 @@
+🖍 Explain w/ Crayons Series: Fundamentals of $GME! Why $GME Should Be Trading Higher
+=====================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/AaronJamesArq](https://www.reddit.com/user/AaronJamesArq/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nkouqs/explain_w_crayons_series_fundamentals_of_gme_why/) | 
+
+---
+
+[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
+
+![image](https://user-images.githubusercontent.com/82035192/123514470-34be7180-d661-11eb-94ea-58c3a5d20cc6.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514474-38ea8f00-d661-11eb-9dce-c23a80e8ba2e.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514480-3e47d980-d661-11eb-950f-80286c4c88b4.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514483-4273f700-d661-11eb-95ab-5b3eb02822fb.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514487-4869d800-d661-11eb-922d-03ac54defe45.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514491-4c95f580-d661-11eb-9b44-5c6ac54d01fa.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514496-50c21300-d661-11eb-8aeb-3ca6689514d1.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514498-54ee3080-d661-11eb-8013-ae338306a829.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514502-59b2e480-d661-11eb-8890-836c287613e9.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514507-5ddf0200-d661-11eb-9760-9b4eac6b8034.png)
+

00-Getting-Started/Explain-with-Crayons-series-by-AaronJamesArq/2021-05-26-GME-and-NFTs.md

@@ -0,0 +1,32 @@
+Crayon Explanation 💬🖍 GME and NFTs: Bullish Thesis + Possible Catalyst for MOASS
+==================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/AaronJamesArq](https://www.reddit.com/user/AaronJamesArq/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nlgnnj/crayon_explanation_gme_and_nfts_bullish_thesis/) | 
+
+---
+
+[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
+
+![image](https://user-images.githubusercontent.com/82035192/123514554-98489f00-d661-11eb-9638-35a2564e97c8.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514562-9c74bc80-d661-11eb-9b04-62e9f353e8db.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514565-9f6fad00-d661-11eb-9ca2-04cb3bc3f5ae.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514568-a4ccf780-d661-11eb-8aac-033111989efd.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514571-a72f5180-d661-11eb-8dca-4bce5a8c3dc0.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514572-aac2d880-d661-11eb-98b8-2454afe97c10.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514574-ae565f80-d661-11eb-89d3-c881ad6590cc.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514577-b1515000-d661-11eb-9b23-3df13cf62418.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514580-b44c4080-d661-11eb-80b7-111a0b1e51f5.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514583-b7473100-d661-11eb-97ea-69abc669ca79.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514587-badab800-d661-11eb-8c12-771ae4b4be8c.png)

00-Getting-Started/Explain-with-Crayons-series-by-AaronJamesArq/2021-05-27-Exit-Strategy-Refresher.md

@@ -0,0 +1,36 @@
+Crayon Explanation 💬🖍 Exit Strategy Vocabulary Refresher Lesson For Apes
+==========================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/AaronJamesArq](https://www.reddit.com/user/AaronJamesArq/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nm5jvp/crayon_explanation_exit_strategy_vocabulary/) | 
+
+---
+
+[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
+
+![image](https://user-images.githubusercontent.com/82035192/123514626-ed84b080-d661-11eb-9625-fcd8fbb3eb2d.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514629-f1183780-d661-11eb-8df9-fd2827b5de40.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514630-f4abbe80-d661-11eb-8916-82fc5526a7df.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514632-f7a6af00-d661-11eb-8539-1751d49d3934.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514637-fc6b6300-d661-11eb-95e1-0cac4498d06a.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514638-fffeea00-d661-11eb-8340-faf14f32e009.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514643-02f9da80-d662-11eb-8d4b-b65c4a91867f.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514646-068d6180-d662-11eb-91fe-f268ff63b336.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514651-09885200-d662-11eb-9c23-16bb70bda60a.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514655-0c834280-d662-11eb-93fd-9344f509f05a.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514660-1016c980-d662-11eb-8e63-94ff57decb8d.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514664-12792380-d662-11eb-9e07-de8d990ad661.png)
+
+![image](https://user-images.githubusercontent.com/82035192/123514667-15741400-d662-11eb-8a14-88e4ae2ab77e.png)

01-Must-Read/2021-05-23-We-Are-All-Fucked.md

@@ -0,0 +1,267 @@
+We're All Fucked
+================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/CoffeeLaxative](https://www.reddit.com/user/CoffeeLaxative/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nj1guf/were_all_fucked/) | 
+
+---
+
+[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
+
+I have no background in macroeconomics. In fact, I'm in healthcare. However, this is what I've gathered in all of my 3 months of investing, learning more about econ and finance than my own field. You tell me what you think and where we stand. The title of my post... pretty much sums up my thoughts. If I made any mistakes, please let me know. After all, I'm a smooth 🧠.
+
+1\. S&P 500 inflation-adjusted earnings yield 🔥
+
+You may have seen this picture from this [post](https://www.reddit.com/r/Superstonk/comments/niem73/sp_500_inflationadjusted_earnings_yield_falls/). It's the S&P 500 inflation-adjusted earnings yield that's now falling below zero, setting a 40-year low. The last times it fell below 0 were in 2008 (housing bubble), 2000 (dotcom bubble), 1987 (Black Monday), 1973 (recession). And it's going under again. Here's [another post about it, with Crescat Capital's letter.](https://www.reddit.com/r/Superstonk/comments/nil0ww/sp_500_negative_yield_crescat_capital_letter_may/) Essentially, impending boom ?
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/jgvo3ctrpb171.png?width=721&format=png&auto=webp&s=6417c2f97f4dbbdfb4c114fff9abfa1b0fe034f8)](https://preview.redd.it/jgvo3ctrpb171.png?width=721&format=png&auto=webp&s=6417c2f97f4dbbdfb4c114fff9abfa1b0fe034f8)
+
+2\. The Repo Market 💣
+
+It's been all the talk lately. Lately, the Fed has been conducting reverse repo operations at higher and higher amounts. On May 20th, we hit the 5th highest ever with $351B and 48 participating counterparties.
+
+Then on May 21st, reverse repos reached $369B with 52 participants! Compare this to two weeks ago where we had less than half that amount, $155B on May 6th. Here's a chart showing reverse repos from January til today. Notice the exponential increase ? Ya, shit is fucked.
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/cf707nbxpb171.png?width=793&format=png&auto=webp&s=a804fd59f761970edd40cf1a76b2ca4e8fb5ac65)](https://preview.redd.it/cf707nbxpb171.png?width=793&format=png&auto=webp&s=a804fd59f761970edd40cf1a76b2ca4e8fb5ac65)
+
+Data from: <https://apps.newyorkfed.org/markets/autorates/temp>
+
+Edit: 05/25: reverse repo @ $432.96 billion.
+
+If you are not familiar with the repo market, I recommend reading this: [The Imminent Liquidity Crisis & Reverse Repos Usage](https://www.reddit.com/r/Superstonk/comments/nhepn1/the_imminent_liquidity_crisis_reverse_repos_usage/) or watching George Gammon's YouTube video (Repo Market Rates Turn Negative).
+
+Wat mean? Means there is too much cash in the system and not enough collateral (like treasury bonds). It means there's an imbalance between dollars (which are essentially IOUs) and whatever is backing the dollar's worth.
+
+Why imbalance ?
+
+-   Quantitative easing (money printer go BRRRR)
+
+-   Rehypothecation (the same treasury bond being lent to A for 10k, who lent it to B for 10k, who lent it to C for 10k, ... but there is only 1 treasury bond and now 30k was lent.)
+
+-   Probably more reasons
+
+So now, nobody wants $ (except you and I) and all of these institutions want treasury bonds. And as of May 21, treasury bonds have a negative interest rate! Source: <https://www.dtcc.com/charts/dtcc-gcf-repo-index>
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/fbzehm75rb171.png?width=474&format=png&auto=webp&s=860034b8555e891462abedd4753be32043dfece4)](https://preview.redd.it/fbzehm75rb171.png?width=474&format=png&auto=webp&s=860034b8555e891462abedd4753be32043dfece4)
+
+U. S. Treasury < 30-year maturity (371487AE9).
+
+In other words, banks and institutions want these treasury bonds so bad, they're ready to pay (lend) what it's worth and pay some more cash to get their hands on it.
+
+3\. Crypto Correction / Crash ⚡
+
+The crypto market dropped $1 trillion in the past 2 weeks ($700 billion last week and ~$300 billion the week before if I got my facts right). The leading coin went from ~$59k to ~$30k and all other coins followed.
+
+So there's a LOT of differing opinions on this matter, on why it happened... Elon Musk, China, etc. Let's agree that it was probably a combination of everything. It also seems that the leading coin followed a textbook Wyckoff distribution, essentially a method to fleece retail investors (yet again!).
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/hynaaywmrb171.png?width=1759&format=png&auto=webp&s=d70c230eed55df463d46d74b763ae978fe064896)](https://preview.redd.it/hynaaywmrb171.png?width=1759&format=png&auto=webp&s=d70c230eed55df463d46d74b763ae978fe064896)
+
+Huge volume spike on May 19th. Very sus
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/kmksmruzrb171.png?width=738&format=png&auto=webp&s=3ce95a840845a0178cd303acf4acef3b938192bc)](https://preview.redd.it/kmksmruzrb171.png?width=738&format=png&auto=webp&s=3ce95a840845a0178cd303acf4acef3b938192bc)
+
+The sell off occurred mostly between 8:50 - 8:55 AM EST and continued til 9:10 AM on May 19th.
+
+What happened on May 19th ? Oh, right! OCC had previously issued a letter to members notifying them of temporary increase in deposits for clearing fund size totaling [$588M due at 9:00 AM on 5/19/2021](https://www.reddit.com/r/Superstonk/comments/nftyg4/occ_has_issued_a_statement_to_all_clearing/). So, let's all agree the crash was caused by a combination of everything.
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/n8lb7266sb171.png?width=1048&format=png&auto=webp&s=d2400092f719b7759f880782309592d56db1f66f)](https://preview.redd.it/n8lb7266sb171.png?width=1048&format=png&auto=webp&s=d2400092f719b7759f880782309592d56db1f66f)
+
+Many coins were affected 6 days ago. Screenshot by u/incandescent-leaf
+
+Edit:
+
+-   Here's an interesting DD that could shed some light on these crypto whales: <https://www.reddit.com/r/Superstonk/comments/nkde38/bitcoin_address_activity_appear_to_mirror_gme/>
+
+-   It's also interesting how Goldman Sachs now considers the leading coin as an asset class. The timing is what's most intriguing. Last weekend, crypto had another big sell off. <https://finance.yahoo.com/news/bitcoin-is-officially-a-new-asset-class-goldman-sachs-103540636.html>
+
+4\. Commercial mortgage backed securities (CMBS) 🏬
+
+According to Fitch Ratings, US CMBS delinquencies ticked up in April for the first time since October 2020, mostly from hotels and regional malls.
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/9uq512i9sb171.png?width=991&format=png&auto=webp&s=eda234c027d79eb6d1318e5036dde2b2aa7f1538)](https://preview.redd.it/9uq512i9sb171.png?width=991&format=png&auto=webp&s=eda234c027d79eb6d1318e5036dde2b2aa7f1538)
+
+Source: <https://www.fitchratings.com/research/structured-finance/us-cmbs-delinquencies-tick-up-in-april-for-first-time-since-october-2020-07-05-2021>
+
+I don't know about you, but this suuure reminds me of something... and this don't look good.
+
+🚀🚀 Edit 🚀🚀
+
+*Thank you to* [u/Due-Mountain-9044](https://www.reddit.com/u/Due-Mountain-9044/) *for this:*
+
+In his interview and in his new article, Ryan Grim calls CMBS a BIGGER problem than the 2008 housing crisis:
+
+-   Article: <https://theintercept.com/2021/04/20/wall-street-cmbs-dollar-general-ladder-capital/>
+
+-   YouTube: <https://www.youtube.com/watch?v=pRHwhvUc54A>
+
+-   Podcast: <https://theintercept.com/2021/04/23/deconstructed-whistleblower-financial-crisis/>
+
+4.1 Mortgages 🏠
+
+*Thank you to* [u/plasticbiner](https://www.reddit.com/u/plasticbiner/) *for also pointing this out:*
+
+New Report From Consumer Financial Protection Bureau Finds Over 11 Million Families At Risk Of Losing Housing (March 1, 2021)
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/jvx7x1an3b171.png?width=1015&format=png&auto=webp&s=1574c782f2610c6712f6605be9bc02cade2d0bd9)](https://preview.redd.it/jvx7x1an3b171.png?width=1015&format=png&auto=webp&s=1574c782f2610c6712f6605be9bc02cade2d0bd9)
+
+Source: https://www.consumerfinance.gov/about-us/newsroom/new-report-from-consumer-financial-protection-bureau-finds-over-11-million-families-at-risk-of-losing-housing/
+
+🚀🚀End of edit 🚀🚀
+
+5\. Banks, hedge funds, and the Fed working 24/7 🏦
+
+We've seen the night pics and enjoyed them. Quite the norm nowadays, but quite unusual still.
+
+<https://preview.redd.it/tw0ubnrays071.png?width=1902&format=png&auto=webp&s=f7fae2895a00a4292eb6c22b3cf92fbbb9d6cccb>
+
+But wait! There's more. Not only do they have to deal with the stock market, the repo market, CMBS, paying their employees for overtime... they're also losing money with fines.
+
+-   UBS, Nomura fined $452 million by the EU. Bank of America, Credit Suisse Group AG and Credit Agricole were fined about 28.5 million euros last month. Source: <https://finance.yahoo.com/news/ubs-nomura-unicredit-fined-452-100701721.html>
+
+-   Since January 2021 up until today, the SEC has awarded ~$163.2 million to whistleblowers. Whistleblowers get 10-30% of the money collected, which means someone is bleeding from $544 million to $1.632B.
+
+-   And then the petty fines by the SEC that I won't list. Chump change for them.
+
+There's also weird or bad news every week :
+
+-   The European Bank Issues Financial Stability Warning. [Reddit post on this](https://www.reddit.com/r/Superstonk/comments/nh913m/the_european_bank_issues_financial_stability/)
+
+-   In Mexico, [BBVA closes 867 branches and 1 million credit cards.](https://www.reddit.com/r/Superstonk/comments/nhgrt5/closing_867_bank_branches_and_a_million_credit/) In Spain, they closed 530 branches.
+
+-   Banks are planning on launching a pilot program where they will issue credit cards to people with no credit scores: <https://www.wsj.com/articles/jpmorgan-others-plan-to-issue-credit-cards-to-people-with-no-credit-scores-11620898206>
+
+-   Not to mention the margin calls already happening on [Wall Street as reported by European financial news](https://www.reddit.com/r/Superstonk/comments/nb9pon/european_financial_news_is_reporting_major_margin/)
+
+-   Much more... won't dig further. It's 1:30 am lol
+
+🚀🚀 Edit 🚀🚀 I'm back at it 3 days later
+
+Here are a few more articles to make you go "Hmmmm 🤔"
+
+-   Right after supposedly great earnings, Morgan Stanley sells $6 billion worth of bonds, following JP Morgan which sold $13 billion of bonds. Goldman Sachs also issued $6 billion of bonds. Source: <https://www.bnnbloomberg.ca/morgan-stanley-joins-bank-bond-bonanza-with-three-part-sale-1.1592121>
+
+-   Over-leveraged Archegos Capital Management cost Credit Suisse $4.7+ billion in losses. Morgan Stanley dumped $5 billion in shares in Archegos' stocks before fire sale. Nomura losses could be as much as $2 billion. Source: <https://www.cnbc.com/2021/04/06/morgan-stanley-dumped-5-billion-in-archegos-stocks-before-fire-sale.html> and <https://www.cnn.com/2021/03/29/investing/wall-street-hedge-fund-archegos/index.html>. Keep in mind Archegos was just a small family firm. How many more are there ?
+
+-   Italian bank collapses on exposure to Greensill and GFG. Source : <https://www.ft.com/content/c02a6e97-5505-4d4a-933f-a0e934ca6eda>
+
+🚀🚀 End of edit 🚀🚀
+
+On top of that, the CEOs of all major US banks have to testify before Congress this week on May 26th and 27th. Source : <https://www.bloomberg.com/news/articles/2021-04-15/wall-street-bank-ceos-called-to-testify-before-congress-in-may>
+
+How often does this happen ? Since 2008, they were called twice to testify before Congress according to above article.
+
+6\. The rich divorcing and/or selling stocks 💔
+
+So Bill Gates divorced and Gabe Plotkin divorced ? Huh. Weird...
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/npk8r7sisb171.png?width=1843&format=png&auto=webp&s=4d0027e7f8aff470b5261852c4c9d77eca4e3380)](https://preview.redd.it/npk8r7sisb171.png?width=1843&format=png&auto=webp&s=4d0027e7f8aff470b5261852c4c9d77eca4e3380)
+
+Wow. That's a lotta shares. A week before the tech sector dumped.
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/zaru329qsb171.png?width=1851&format=png&auto=webp&s=e454d39dc0c95a2b9774b013d988be25ff038d3f)](https://preview.redd.it/zaru329qsb171.png?width=1851&format=png&auto=webp&s=e454d39dc0c95a2b9774b013d988be25ff038d3f)
+
+Mark Zuckerberg selling his FB shares. Goes all the way back to February.
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/f2ouo5l4tb171.png?width=1852&format=png&auto=webp&s=ab00893677a8db4726d740bef4520169e1e5896e)](https://preview.redd.it/f2ouo5l4tb171.png?width=1852&format=png&auto=webp&s=ab00893677a8db4726d740bef4520169e1e5896e)
+
+Google too?
+
+Source: [finviz.com](https://finviz.com/)
+
+Edit:
+
+-   Let's not forget Warren Buffett and his company Berkshire Hathaway sold most of their bank shares (Goldman Sachs, JPMorgan, M&T Bank, PNC Financial, Synchrony Financial, Wells Fargo, US Bancorp, and BNY Mellon) during the past 5 quarters. Source : <https://www.msn.com/en-us/money/markets/warren-buffett-dumped-goldman-sachs-jpmorgan-and-other-bank-stocks-last-year-they-ve-now-surged-to-record-highs-meaning-the-investor-left-billions-on-the-table/ar-AAKc7Dr>
+
+7\. The domestic market and the international markets 📉
+
+Let's look back at the past 2 weeks.
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/duhmxe5itb171.png?width=1284&format=png&auto=webp&s=9c6bfde6a2be1b567cdb1452511b99cc9bfc9872)](https://preview.redd.it/duhmxe5itb171.png?width=1284&format=png&auto=webp&s=9c6bfde6a2be1b567cdb1452511b99cc9bfc9872)
+
+05/19 by u/CryptoFX1
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/geupg0nmtb171.png?width=1136&format=png&auto=webp&s=8f07d1be7f95801e2515e780313342ce1d5e2d6f)](https://preview.redd.it/geupg0nmtb171.png?width=1136&format=png&auto=webp&s=8f07d1be7f95801e2515e780313342ce1d5e2d6f)
+
+On May 12, Nikkei Bled. Only 1% Away From the Low of Jan 28. by u/incandescent-leaf
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/yylsva8stb171.png?width=960&format=png&auto=webp&s=d60431874a4b4df632980e526b9af812ada31d7f)](https://preview.redd.it/yylsva8stb171.png?width=960&format=png&auto=webp&s=d60431874a4b4df632980e526b9af812ada31d7f)
+
+"Taiwan Stock Exchange Index just wiped out YTD gains. This is abnormal. Very likely that it will also affect the US markets (though many can argue that this is actually a reflection of the US markets, and I would agree)" by u/_atworkdontsendnudes
+
+-   [Asian markets](https://www.reddit.com/r/Superstonk/comments/nahhak/asian_markets_are_tanking_once_again_following/) and [other international markets](https://www.reddit.com/r/Superstonk/comments/nafv9y/international_markets_are_doing_super_well_honest/) are tanking, following another day of decline in the US markets (May 12-13)
+
+Ok, the market has had its green days here and there. But overall, it's been pretty unusually red, right ? Yeah, also, all of this could be unrelated. Could be a coincidence. What do I know ? You be the judge.
+
+8\. The media 📰
+
+Usually very biased or bought out, but there are some exceptions like this article: [Are we on the verge of a new financial crisis?](https://www.reddit.com/r/Superstonk/comments/ncgojw/are_we_on_the_verge_of_a_new_financial_crisis_the/) The GameStop case, the signals of Hedge Funds and the rise of crypto.
+
+What's concerning is that even "biased media" is warning of inflation, hyperinflation and an impending crash. No links, just go on YouTube. If they're talking about it, we know shit's about to hit the fan soon...
+
+Edit:
+
+-   Ever doubted media manipulation ? Remember this video ["Independent" media using the EXACT same words](https://www.reddit.com/r/Superstonk/comments/nbpusp/if_you_ever_doubted_media_manipulation_remember/) and this video of the 2008 crash: [Not a single expert/spokesperson mentioned the true cause of the crash; Mortgage Bonds.](https://www.reddit.com/r/Superstonk/comments/nbrl8h/watch_this_video_of_cnbc_during_the_2008_crash/)
+
+-   Remember "Bear Stearns is fine" back in 2008 ? Cramer says he's confident inflation will not end up crushing US economy. Source : <https://www.msn.com/en-us/money/markets/cramer-says-hes-confident-inflation-will-not-end-up-crushing-us-economy/ar-AAKl951>
+
+-   Motley Fool agrees, as per their "38 reasons you don't have to fear a stock market crash" article: <https://www.fool.com/investing/2021/05/23/38-reason-you-dont-have-to-fear-stock-market-crash/>
+
+9\. GameStop 🎮
+
+I think you know what I'm thinking of. Let me just repeat this. We have played the game while following the rules. We played against players that had cheat codes in an unfair game, designed for us to lose. Yet, here we are.
+
+Buy, hodl, and vote fellow 🐈 & 🦍& 🐜. I appreciate you all. The rest can fuck right off.
+
+🚀🚀🚀🚀🚀🚀🚀🚀
+
+```
+Edit: alright, who the f reported me ? Seems like the shills don't like this. To everyone else, I am perfectly happy with my life 😉🤑
+
+Edit 2: I guess I was too subtle. I was reported for self-harm and potential suicide. Let me make it clear, I have absolutely zero thoughts about this. I love my life, even if it's a mess.
+
+Also, thank you all for the awards and kind feedback! Was not expecting to gain so much traction. "Controversial" title is a reference to the movie The Big Short. Some of you (superstonkers) caught on.
+
+Lots of great input and good discussion in the comments.
+
+A few people questioning my sources and my background. Listen... forget it.
+
+```
+
+🚀🚀🚀🚀🚀🚀🚀🚀
+
+10\. The flurry of new rules and regulations 📝
+
+-   Let's not forget Gary Gensler, Chairman of the SEC, was sworn in on a Saturday (April 17, 2021). [Why the Weekend Swear in Ceremony for Gary Gensler is of Significance](https://www.reddit.com/r/Superstonk/comments/mtikm9/why_the_weekend_swear_in_ceremony_for_gary/)
+
+-   Also interesting how the DTCC, OCC, ICC, and NSCC have been implementing new rules and regulations like crazy in such a short time-span. Below is an overview of them (credits to [u/MATTATI2005](https://www.reddit.com/u/MATTATI2005/)). And here's [another great DD](https://www.reddit.com/r/Superstonk/comments/ngru15/the_flurry_of_rules_before_the_storm_dtc_icc_occ/) tying them in with the FTD cycles of GME.
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/hdabo7p6vc171.png?width=975&format=png&auto=webp&s=d089ca7c3e1d9cf27bfdb9ed0762f9b036c4b643)](https://preview.redd.it/hdabo7p6vc171.png?width=975&format=png&auto=webp&s=d089ca7c3e1d9cf27bfdb9ed0762f9b036c4b643)
+
+-   Michael J. Burry, famous for seeing the early signs of the 2008 crash and making bank, also got shushed a few months ago, deleting his Twitter account. In his profile, he linked this, only to remove it 1 day later: <https://www.federalreserve.gov/econres/notes/feds-notes/ins-and-outs-of-collateral-re-use-20181221.htm>. Here's a great DD explaining how Michael Burry Handed us the Missing Piece on a Silver Plate, [How Financial Institutions Using US Treasury Securities Nearly Caused the Market to Collapse and What Does it Mean for Us](https://www.reddit.com/r/GME/comments/mil875/michael_burry_handed_us_the_missing_piece_on_a/)
+
+11\. Margin debt 💵
+
+FINRA Margin Debt is at a current level of 822.55B, up from 813.68B last month and up from 479.29B one year ago. This is a change of 1.09% from last month and 71.62% from one year ago. Source: <https://ycharts.com/indicators/finra_margin_debt>. Thank you to [u/CapoeiraCharles](https://www.reddit.com/u/CapoeiraCharles/) who reminded me of this.
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/szaksdemvb171.png?width=1154&format=png&auto=webp&s=b8b26435ab2e534370f322600c2a7ffa1098ce13)](https://preview.redd.it/szaksdemvb171.png?width=1154&format=png&auto=webp&s=b8b26435ab2e534370f322600c2a7ffa1098ce13)
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/9ot4jz0nqb171.png?width=910&format=png&auto=webp&s=1fe3c5cad336c78e6aa3846438430e3f4d94a8ff)](https://preview.redd.it/9ot4jz0nqb171.png?width=910&format=png&auto=webp&s=1fe3c5cad336c78e6aa3846438430e3f4d94a8ff)
+
+12\. More charts 📉
+
+I'm just going to leave this here. You be the judge of what this all means. Credits to [u/peruvian_bull](https://www.reddit.com/u/peruvian_bull/).
+
+[![r/Superstonk - We're All Fucked](https://preview.redd.it/b5k88sr7pb171.png?width=640&format=png&auto=webp&s=76a3b153b728898635c81fa78de60d775554210b)](https://preview.redd.it/b5k88sr7pb171.png?width=640&format=png&auto=webp&s=76a3b153b728898635c81fa78de60d775554210b)
+
+13\. Final words 💎
+
+My goal is not to incite panic but to share data and encourage discussion. Without knowledge, where would we even begin, let alone be prepared ? Imo, this is what makes [r/superstonk](https://www.reddit.com/r/superstonk/) great. It's like a hive mind of 300k+ people sharing info.
+
+To those who are panicking, I believe US banks insure up to $250k for each account. The comment section below is quite informative as well.
+
+Are all the points in my post correlated ? Maybe, maybe not. Saying they are would be speculation. However, each point was based on facts and I think that's what matters. The rest is up for you to decide.
+
+This is not financial advice. If I missed anything, please let me know.
+
+🚀🚀🚀

01-Must-Read/2021-06-21-The-Fed-is-Pinned-into-a-Corner-from-2008.md

@@ -0,0 +1,300 @@
+The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the economy up.
+===================================================================================================================================================================================================================================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/Criand](https://www.reddit.com/user/Criand/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/o4rfnu/the_fed_is_pinned_into_a_corner_from_the_2008/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+0\. Preface
+
+I am not a financial advisor. I do not provide financial advice. Many thoughts here are my opinion, and others can be speculative.
+
+I'm personally happy to see that there is a shift from GME DD to macro-economics DD. Because it provides a much wider insight into how the market is behaving, and how GME would NOT be the cause of a market crash. Everything has been a pressure cooker over the past decade, ready to burst, and the new DD provides insight on when things might go down.
+
+The new DD also diverges from the expectations of things to shoot up in price every week, where everyone is watching T+21/T+35/Net Capital cycles. It gives a general "MOASS will most likely occur when everything falls due to liquidation of defaulting Banks / Hedge Funds / Financial Institutions".
+
+It gives me peace of mind, because I do not watch for specific dates around GME to cause the surge. I watch the economy at the macro scale to understand when things could blow.
+
+And to any skeptics - yes, it is possible that GME could never blow up. Do I think it will blow up? Sure I do. But I encourage YOU to read this post, disregarding GME, and to instead understand what is going on with the economy on the macro scale.
+
+Even if the GME play is wrong in your eyes, it is good to understand how the economy could crash harder than it did in 2008. I don't care if you don't believe in GME. I care about you, and don't want YOU to be hurt.
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/pscahu4lxk671.png?width=727&format=png&auto=webp&s=2e5ee31eaef0413023a8cc4be07087210081554c)](https://preview.redd.it/pscahu4lxk671.png?width=727&format=png&auto=webp&s=2e5ee31eaef0413023a8cc4be07087210081554c)
+
+Me IRL - Maybe - Sometime
+
+1\. Before We Begin: An Overview of Repo And Reverse Repo
+
+Repo and Reverse Repo might be a bit confusing. You probably saw on this subreddit or in news that the reverse repo market has been blowing up, and it's a bit concerning.
+
+It's not too complicated if you just imagine it between two entities: the Federal Reserve and Banks.
+
+For both Repo and Reverse Repo, it is an agreement between two parties for one of them to sell some security for a price, and they agree to buy that security back at a later date at a higher price based on some interest rate (usually). This is called a "Repurchase Agreement", where "Repo" is a standard "Repurchase Agreement" and the "Reverse Repo" is a "Reverse Repurchase Agreement", the inverse of a "Repo".
+
+The length of these Repurchase Agreements can be various lengths. Such as overnight, one month, three month, etc.. But what we're seeing is short-term overnight Reverse Repos. The parties swap, and then the next trading day they swap back. It is not a permanent extraction of the underlying security. It is an overnight swap. A permanent extraction comes from Quantitative Easing or Quantitative Tightening, both of which I will discuss later.
+
+-   Repo (Repurchase Agreement) - This is where the bank swaps collateral (such as US Treasuries) for cash. This is used when the banks have too much collateral and not enough cash, or when the banks want to generate profit off of giving loans to other parties in the repo market.
+
+-   Reverse Repo (Reverse Repurchase Agreement) - This is where the bank swaps cash (liquidity) for collateral (such as US Treasuries). This is used when the banks have too much cash (liquidity) and not enough collateral. The main reason behind this behavior is to pump balance sheets for the night.
+
+Below is a diagram I made which might make this more clear. It is between the Fed (left) and Banks (right):
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/ukum83cf2k671.png?width=1920&format=png&auto=webp&s=99d4c612df82013aed06ff2b22621500a80071cf)](https://preview.redd.it/ukum83cf2k671.png?width=1920&format=png&auto=webp&s=99d4c612df82013aed06ff2b22621500a80071cf)
+
+Repo and QT Versus Reverse Repo and QE
+
+2\. Quantitative Easing Can-Kick of 2008, Slowly Draining Collateral From The Market
+
+Note: If you want an overview of what led to the 2008 crash, check out [my previous post](https://www.reddit.com/r/Superstonk/comments/o0scoy/the_bigger_short_how_2008_is_repeating_at_a_much/) which has a summary of the documentary "Inside Job (2010)". It also describes where we're probably headed based on SLR, the DTC, ICC, OCC, NSCC rules, and mortgage default protections expiring June 30th, 2021.
+
+Zoom back in time to 2008. The economy took a massive dump due to Wall Street's abuse of derivatives and leverage. They created a bunch of toxic CDOs mostly consisting of [subprime Mortgages](https://www.investopedia.com/terms/s/subprimeloan.asp) to create an economic apocalyptic scenario around Mortgage Backed Securities (MBS). Everything was overleveraged and was a massive balloon of bets based on the performance of the MBS's.
+
+Currently, there's evidence of Wall Street doing the same abuse of toxic CDO's but this time with Commercial Mortgage-Backed Securities (CMBS). [See above linked post for this detail]
+
+The economy was hurting pretty bad from the 2008 crash, and it was going to continue going into a complete death spiral until the Federal Reserve (Fed) introduced Quantitative Easing (QE):
+
+> The Fed announced QE1 on November 25, 2008. Fed Chairman Ben Bernanke announced an aggressive attack on the financial crisis of 2008. The Fed began buying $500 billion in mortgage-backed securities and $100 billion in other debt. QE supported the housing market that the subprime mortgage crisis had devastated. - [Source](https://www.thebalance.com/what-is-qe1-3305530)
+
+If you're still scratching your head on what QE is, here's the Wikipedia overview definition, as well as (hopefully) a more simplified definition.
+
+[Quantitative Easing](https://en.wikipedia.org/wiki/Quantitative_easing) (QE) - is a monetary policy whereby a central bank purchases at scale government bonds or other financial assets in order to inject money into the economy to expand economic activity.
+
+-   This is what the Fed will do to extract collateral (including US Treasuries) from the economy in order to push in liquidity. The Fed started doing this in 2008 to extract toxic collateral from the market and encourage economic growth because it allowed more cash flow in the economy.
+
+-   This pulls out collateral from the economy, and pushes cash (liquidity) in.
+
+-   It was a ticking timebomb ever since it started, because it extracts collateral from the market, slowly creating a collateral shortage issue.
+
+Check out the effects of QE on the Dow Jones Industrial Average ($DJI):
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/cktjwttu8k671.png?width=1528&format=png&auto=webp&s=4e23f2e54e6204d8c56323d7e6bc8772c1a02535)](https://preview.redd.it/cktjwttu8k671.png?width=1528&format=png&auto=webp&s=4e23f2e54e6204d8c56323d7e6bc8772c1a02535)
+
+DJI Before And After Quantitative Easing Begins
+
+It was helping the economy reverse the death spiral, and it has been pumping the economy ever since the introduction of QE. The problem is, of course, that collateral would continue to be sucked out of the market through the mechanics of QE.
+
+And QE can't continue forever, because collateral is a fundamental part of the repo market which allows cash to flow in the economy. When you don't have collateral, you can't post the collateral in the market for cash from banks, and thus the flow of cash basically shuts down. You cannot perform a normal repo transaction between a Bank / Hedge Fund / Financial Institution.
+
+The Fed tried to stop QE after a while. Instead of pulling collateral out of the economy, they needed to try to push collateral back into the economy. In order to stop QE, they tried what was, in essence, the "reverse" of QE called Quantitative Tightening (QT).
+
+[Quantitative Tightening](https://en.wikipedia.org/wiki/Quantitative_tightening) (QT) - (or quantitative hardening) is a contractionary monetary policy applied by a central bank to decrease the amount of liquidity within the economy. The policy is the reverse of quantitative easing (QE), aimed to increase money supply in order to "stimulate" the economy.
+
+-   This is what the Fed will do to extract liquidity from the economy in order to push in collateral. It is used to attempt to reverse the effects of QE, to try to regain balance in the economy.
+
+-   This pulls out cash (liquidity) from the economy, and pushes collateral in.
+
+-   The Fed attempted QT in 2018, but it proved to have very bad consequences on the economy. So, they went back to QE in 2019, continuing to can-kick the effects of the 2008 crash.
+
+This is a chart showing the Fed's "Total Assets", where collateral is an asset for the Fed. So when collateral was extracted from the economy through QE, it went onto their "Assets" side of their balance sheet. When collateral was pushed back into the economy through QT, it was extracted from their "Assets" side of their balance sheet.
+
+1.  At the start of QE in 2008, there is a surge of assets due to the buying up of MBS's and treasuries.
+
+2.  Around 2018 the assets began to decline because the Fed attempted QT by pushing collateral back into the economy and sucking liquidity out.
+
+3.  Around September 2019 the assets began to increase again because the Fed went back to QE after realizing the negative effects it was having on the economy due to causing a liquidity shortage.
+
+So... what happened in September of 2019? Why did QT fail after a decade of QE?
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/x6pfomz2ck671.png?width=893&format=png&auto=webp&s=1c667c5cc3dbc94de50944208f107aac1dd72d73)](https://preview.redd.it/x6pfomz2ck671.png?width=893&format=png&auto=webp&s=1c667c5cc3dbc94de50944208f107aac1dd72d73)
+
+https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
+
+3\. Quantitative Easing Cannot Be Reversed. The Can-Kick Continues Until The Economy Crashes
+
+Despite pumping in a bunch of liquidity into the market through QE, the economy was still lacking liquidity. When the Fed started to reverse QE through QT, the liquidity in the market tightened and thus the negative effects on the economy began to surface in September of 2019.
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/9sd32gdxdk671.png?width=630&format=png&auto=webp&s=0ee9d749419bc2b6c0a84682f6f9b0b886ceca93)](https://preview.redd.it/9sd32gdxdk671.png?width=630&format=png&auto=webp&s=0ee9d749419bc2b6c0a84682f6f9b0b886ceca93)
+
+https://blog.pimco.com/en/2019/09/repo-rate-spike-a-tail-of-low-liquidity
+
+Less than a year after starting QT, a liquidity crisis emerged on September 15th, 2019, when the repo rate spiked up severely. This was a clash of events surrounding the lower liquidity issue.
+
+> Banks' "reporting" dates are known inflection points in the short-term funding markets and typically fall at the end of the month, quarter, and of course the year. But periodically, the 15th of the month is also a pressure point. Such was the case this past Monday when a short-term funding rate that had been hovering around 2.21% soared as high as 10%.
+>
+> The funding market succumbed to a trifecta of pressures:
+>
+> 1.  Payments on corporate taxes were due on 15 September, leading to high redemptions of more than $35 billion in money market funds.
+>
+>
+> 2.  Cash balances increased by an additional $83 billion in the U.S. Treasury general account, which reduces excess reserves and simultaneously acts to reduce the aggregate supply of overnight liquidity available in funding markets.
+>
+>
+> 3.  Dealers needed an additional $20 billion in funding to finance the settlement of recent scheduled U.S. Treasury issuance.
+>
+>
+>
+> ...
+>
+> ...
+>
+> On September 15, as so many institutions needed funding, repo rates climbed well above the fed funds upper-end target at the time of 2.25% to briefly touch 5%. The following day, cash repo markets traded as high as 10% for those looking to finance agency mortgage positions overnight. Later that morning, the Federal Reserve Bank of New York acknowledged the pressures and conducted its first Open Market Operation (OMO) in more than a decade to add reserves to the funding markets that were clearly in need of the liquidity. Subsequently, after its meeting Wednesday, the Federal Open Market Committee (FOMC) announced a cut in the interest on excess reserves (IOER) of 0.30% -- five basis points more than its cut in the fed funds rate -- providing some relief to the upper bound of money-market yields.  - [Source](https://blog.pimco.com/en/2019/09/repo-rate-spike-a-tail-of-low-liquidity)
+
+Due to the reduced liquidity from QT, because it sucks out liquidity and pushes in collateral, the markets hit a critical point where there was too much cash that was needed and not enough to supply those who needed the cash. There was huge amounts of strain on the economy.
+
+This was most likely due to continued large leverage + derivatives abuse stemming from what led to the 2000-2007 Housing Market Bubble. The Fed realized that QT could not continue because of the liquidity shortage that was arising. They had to stop QT and continue QE in order to continue to pull out collateral and pump in liquidity. And thus, the collateral shortage time bomb continued ticking.
+
+Below is the figure of when the repo rate shot up to ~10% within a day. This was awful, because it was much more expensive for loans to go out. The repo market would have shut down from nobody wanting to spend 10% on a repurchase agreement to get cash for the day. How would ANYONE get 10% return overnight to pay for these loans? The flow of cash was about to halt.
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/86p3getwwj671.png?width=771&format=png&auto=webp&s=2a503c9055d655f80557da8bf46744c205f60011)](https://preview.redd.it/86p3getwwj671.png?width=771&format=png&auto=webp&s=2a503c9055d655f80557da8bf46744c205f60011)
+
+https://www.federalreserve.gov/econres/notes/feds-notes/what-happened-in-money-markets-in-september-2019-20200227.htm
+
+4\. COVID Initiated A Liquidity Crisis In The Banks, Which Now Fights With The Collateral Shortage
+
+QE continued on until 2020, when suddenly, COVID came in. Nobody expected it.
+
+And boy, oh boy, did COVID wreak havoc on the economy and the financial world. While the Fed was slowly approaching a collateral crisis through QE, COVID exacerbated the issue due to the sudden impact it had on liquidity. COVID increased liquidity, and when you have a sudden surge of liquidity, you need to balance it with collateral. The economic balance was tipping as of March of 2020.
+
+This does not even take into account the effects of many people losing their jobs, being unable to pay rent/mortgages, and other issues that arose from COVID. Those all apply to another ticking time bomb: the CMBS issue, equivalent to the MBS bubble of 2000-2007, which I discussed in my other post.
+
+The COVID pandemic caused a surge of money being printed from stimulus packages in the US. When you print a bunch of money into the economy on a whim, you risk driving inflation of the currency itself. What does inflation encourage? Less spending from companies, due to the higher price. This leads to less loaning of cash in the repo market, and banks obtaining an ever-surplus of cash.
+
+COVID caused a sudden surge of trillions of dollars worth that the economy couldn't handle naturally. Compare the treasury balance versus the deposits over time, and the surge that occurred in 2020 in response to the pandemic. The COVID stimulus bills pumped in a massive amount of money into the economy at the risk of inflation. And we're already seeing the effects of inflation occur on the [supply chain](https://www.businessinsider.com/why-supply-shortages-economy-inventory-chips-lumber-cars-toilet-paper-2021-5):
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/amwahlvykk671.png?width=877&format=png&auto=webp&s=1e343c265451a1b2d6754a4d04971bb445e58f43)](https://preview.redd.it/amwahlvykk671.png?width=877&format=png&auto=webp&s=1e343c265451a1b2d6754a4d04971bb445e58f43)
+
+https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
+
+Stimulus checks were sent out to retail. Companies were bailed out. Unemployment increased, resulting in more unemployment benefits going out due to the relief bills. More money printed. More money deposited at banks.
+
+There was a ton of cash (liquidity) being pumped into the economy over the past year from March 2020 to June 2021. Because of this, due to inflation and an excess of cash, banks began to get a surplus of cash deposited. People had more cash. They didn't need to spend money on rent/mortages. Companies didn't want to spend more due to fears of inflation. So, bank deposits went up.
+
+The main problem with this is that the cash deposited with the banks became a liability on their balance sheets. When you have a surplus of liabilities on your balance sheet, you need to 'balance' it out with assets, such as US Treasuries.
+
+The banks were now in trouble because they had way, way too many deposits. They were at risk of defaulting due to their SLR requirements. Here is a figure showing how deposits (liabilities) of banks increased over time. It mushroomed during the COVID pandemic:
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/6dm07sa3oj671.png?width=891&format=png&auto=webp&s=9acce6ceb03841c64828198eefff21eb06b1e310)](https://preview.redd.it/6dm07sa3oj671.png?width=891&format=png&auto=webp&s=9acce6ceb03841c64828198eefff21eb06b1e310)
+
+https://www.ft.com/content/a5e165f7-a524-4b5b-9939-de689b6a1687
+
+To combat this issue, the Fed decided to introduce a relief program for banks regarding SLR because of the massive increase of liquidity due to the uppercut that COVID created on the financial world.
+
+> The supplementary leverage ratio (SLR) is the US implementation of the Basel III Tier 1 leverage ratio, with which banks calculate the amount of common equity capital they must hold relative to their total leverage exposure. Large US banks must hold 3%. Top-tier bank holding companies must also hold an extra 2% buffer, for a total of 5%. The SLR, which does not distinguish between assets based on risk, is conceived as a backstop to risk-weighted capital requirements. - [Source](https://www.risk.net/definition/supplementary-leverage-ratio-slr)
+
+In more of a simplified summary, SLR is a requirement of total equity that a bank must hold compared to their total leverage exposure. If they are exposed to leverage, they need to hold enough capital for that position otherwise they are at risk of defaulting. In this case, they only need to hold a measly 3%-5%, dependent on how large of a bank they are. Just like in 2008 - these banks can have massive leverage and SLR is to "help protect the economy" from them abusing leverage.
+
+But hey, the Fed put in place some protections for the year to help these banks since they were obviously overleveraged to begin with. These protections expired on March 31st, 2021.
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/14pa4yngtj671.png?width=1433&format=png&auto=webp&s=534726bcf83b0bf40ede7b196191d66c29094d6e)](https://preview.redd.it/14pa4yngtj671.png?width=1433&format=png&auto=webp&s=534726bcf83b0bf40ede7b196191d66c29094d6e)
+
+https://www.fool.com/investing/2021/03/29/the-fed-is-ending-one-of-its-pandemic-relief-progr/
+
+> The Fed's relief program last year allowed banks to exclude U.S. Treasuries and central bank reserves from the SLR calculation. The relief program was a response to the many non-banking institutions selling Treasuries to raise cash, and coincided with other measures, including the $2.2 trillion CARES Act, which resulted in even more Treasuries being sold into the market. - [Source](https://www.fool.com/investing/2021/03/29/the-fed-is-ending-one-of-its-pandemic-relief-progr/)
+
+Right after the expiration of the protection plans of SLR, the Reverse Repo market began to blow up because the banks had way too much liquidity and not enough treasuries on their balance sheets.
+
+The argument that the banks were "parking their money at the Fed" was a reasonable explanation at first. Though, with 0% ROI from the RRP at the time, the banks would literally get no return on their investments. So for that argument, all of their other investments would have had to yield negative in order for RRP to be more enticing. Does this make sense to you that they'd use 0% RRP to be an 'investment'?
+
+The fact that the RRP began to ramp up and then explode after the SLR protections lifted makes this look like a collateral shortage issue. And of course, with QE occurring over the past decade, makes it more likely, because collateral was sucked out of the economy and onto the Fed's balance sheet over the years.
+
+That was of course questionable on whether it was a liquidity or collateral issue, until, the RRP rate dropped negative in March of 2021, as well as in April of 2021.
+
+5\. Reverse Repo Rate Flips Negative; Warnings Of Collateral Shortage
+
+Think about it quite simply in a supply/demand factor and the reverse repo when the RRP rate dropped negative.
+
+You are a bank. You want to get Collateral from the Fed to balance your sheets. The Fed says they'll give you a small amount of interest for borrowing their collateral overnight. But now, imagine that the supply of collateral is too low and demand is too high. The Fed will no longer want to pay you for borrowing its collateral so it will shift the interest rate down. If demand really outweighs supply, then the Fed would then want cash from YOU in order for YOU to borrow the collateral.
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/eysh9mx9ok671.png?width=961&format=png&auto=webp&s=4d9d1695922b01651eae06c6bcc2753ad0f5b789)](https://preview.redd.it/eysh9mx9ok671.png?width=961&format=png&auto=webp&s=4d9d1695922b01651eae06c6bcc2753ad0f5b789)
+
+https://www.reuters.com/article/us-usa-bonds-repo-explainer/explainer-u-s-repo-market-flirts-with-negative-rates-as-fed-seeks-to-absorb-excess-cash-idUSKBN2C32AI
+
+This was just one of the warning signs that a collateral issue was arising. The RRP rates were already at 0%, so the only way for them to move was either up or down. An increase in treasury demand could shift it down, into the negatives, which it did.
+
+6\. The Fed Is Fudging The Numbers And Hiding A Collateral Shortage
+
+The drop in RRP interest rates to the negative came after the Fed increased the total borrowing amount of counterparties in the RRP from $30 Billion to $80 Billion.
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/by2ftlpopk671.png?width=1028&format=png&auto=webp&s=747f50e2fb63aabaedb6e9e947aa117f6c75f91b)](https://preview.redd.it/by2ftlpopk671.png?width=1028&format=png&auto=webp&s=747f50e2fb63aabaedb6e9e947aa117f6c75f91b)
+
+https://finadium.com/fed-increases-rrp-limits-from-30-billion-to-80-billion-to-ensure-supply-at-near-0-rates/
+
+Why did they do this? Think of it again as a supply versus demand issue. For simple math, imagine the Fed has 50 members.
+
+-   At a limit of $30 Billion per member, that is a total of $30B * 50 = $1.5 Trillion that can be borrowed.
+
+-   At a limit of $80 Billion per member, that is a total of $80B * 50 = $4 Trillion that can be borrowed.
+
+What is this doing? Why did the Fed increase the limit?
+
+It's artificially inflating the total "supply" of treasuries that can be borrowed by counterparties in the RRP. It is attempting to keep the interest rate positive because there is so much demand for collateral and not enough supply in the markets and on the Fed's balance sheet. The RRP was already at 0%, there was nowhere for it to go besides negative, which as you know implies a shortage of collateral and a red flag for the financial world.
+
+Not only did they artificially inflate the total supply to combat the demand by increasing the total borrow amount, the Fed decided to not affect the assets side of its balance sheet during these RRP transactions. This effectively leaves the supply of treasuries on the Fed's balance sheet the same. This is another method to can-kick to avoid interest rates going negative and flashing a collateral issue.
+
+> When the Desk conducts RRP open market operations, it sells securities held in the System Open Market Account (SOMA) to eligible RRP counterparties, with an agreement to buy the assets back on the RRP's specified maturity date. This leaves the SOMA portfolio the same size, as securities sold temporarily under repurchase agreements continue to be shown as assets held by the SOMA in accordance with generally accepted accounting principles, but the transaction shifts some of the liabilities on the Federal Reserve's balance sheet from deposits held by depository institutions (also known as bank reserves) to reverse repos while the trade is outstanding. - [Source](https://www.newyorkfed.org/markets/rrp_faq/rrp-faq-archive/rrp-faq-200715)
+
+We can see this visually from the Fed's balance sheet that they're not affecting their assets during the RRP. They're allowing counterparties to borrow treasuries WITHOUT affecting the supply - desperately trying to get away from the rising demand for treasuries and avoid treasury yields from snapping down (and likewise the price of treasuries up):
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/evxua80crk671.png?width=893&format=png&auto=webp&s=6a925b05e7a460b252457923ca97c730c511da6b)](https://preview.redd.it/evxua80crk671.png?width=893&format=png&auto=webp&s=6a925b05e7a460b252457923ca97c730c511da6b)
+
+https://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
+
+On top of this, the Fed showed their hand ONCE AGAIN of fudging the numbers on June 16th when they bumped up the RRP rate to 0.05%. The short-term treasury yields briefly went BELOW the RRP interest amount of 0.05% on June 17th when the new RRP ROI was in effect.
+
+This is a BAD sign because now overnight RRP had a higher return than 2-month and 3-month treasury bonds.
+
+The Fed is fudging the numbers trying to hide the treasury bond shortage.
+
+The Fed cannot keep this up. They're trying to keep the T-bill yield curve propped up despite the treasury shortage. They're not affecting their balance sheet, and they also artificially increased the amount of treasuries in their "supply" by increasing the counterparty borrow limit from $30 Billion to $80 Billion.
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/sp52qka5tj671.png?width=858&format=png&auto=webp&s=69d7ec8971035a7939f7bed116f7c923215019d6)](https://preview.redd.it/sp52qka5tj671.png?width=858&format=png&auto=webp&s=69d7ec8971035a7939f7bed116f7c923215019d6)
+
+https://alhambrapartners.com/2021/06/17/the-fomc-accidentally-exposes-itself-reverse-repo-style/
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/1f64o77tsk671.png?width=972&format=png&auto=webp&s=48e83c02895066c4e300c5a8adf3d3a065a6b016)](https://preview.redd.it/1f64o77tsk671.png?width=972&format=png&auto=webp&s=48e83c02895066c4e300c5a8adf3d3a065a6b016)
+
+https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield
+
+The Fed is also planning on increasing interest rates. This starts to scare the economy, which is most likely why we're now seeing the dump of the stock market over the past few days and the dump leading into the week of June 21st. This is bad for the markets because it means it's going to cost more for the economy to function (e.g. what happened in 2019 when Repo Rates spiked to 10%). Companies have to spend more to hire, produce, etc. It costs the economy more to function.
+
+The Fed is pinned between a collateral issue from QE sucking out collateral, and a liquidity issue and COVID pumping in too much liquidity for the banks to handle.
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/uhhhzguotk671.png?width=1202&format=png&auto=webp&s=cab32cef615311320c6cf27461fa7fb18b0fc7af)](https://preview.redd.it/uhhhzguotk671.png?width=1202&format=png&auto=webp&s=cab32cef615311320c6cf27461fa7fb18b0fc7af)
+
+https://www.cnbc.com/2021/06/16/fed-holds-rates-steady-but-raises-inflation-expectations-sharply-and-makes-no-mention-of-taper.html
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/p0v9ij2b0k671.png?width=1013&format=png&auto=webp&s=bf8f525bfc55e8f1287e921bbaaa408c5c27a253)](https://preview.redd.it/p0v9ij2b0k671.png?width=1013&format=png&auto=webp&s=bf8f525bfc55e8f1287e921bbaaa408c5c27a253)
+
+https://www.bbc.com/news/business-57090421
+
+7\. Quarter Ends Explode The Reverse Repo. The Next Quarter End Is June 30th, 2021.
+
+This is not a date to look forward to for GME potentially rising. This is a date of "Holy shit. The RRP could explode to the point where treasury supply vs demand is unable to take it any more".
+
+About 3-4 days prior to quarter ends, the RRP explodes up in the amount of collateral that is borrowed from the Fed. This is because of the underlying plumbing of the financial markets, identified in Section 3 above, causes additional strain on the financial markets. The banks need more collateral to prop up their balance sheets for the night of the quarter-ends.
+
+The RRP borrowed amount can shoot up almost 2-4x the current levels. The amount of RRP at the moment is $747 Billion. The RRP could explode 2-4x the amount it is at upon June 25th, 2021. What if it's $1 Trillion by then due to the massive amount of collateral needed by the banks? More?
+
+Can the Fed handle it?
+
+Can they still prop the yield curve up?
+
+Will the short-term treasuries dip below the RRP amount once more due to this shortage and flash red flags to the world of financial instability in the US?
+
+[![r/Superstonk - The Fed is pinned into a corner from the 2008 can-kick utilizing QE, and the economic effects of COVID. They are stuck battling a collateral crisis AND a liquidity crisis. The Fed is currently fudging the numbers of treasuries to hide a collateral shortage and to try to prop the ...](https://preview.redd.it/63daa1s8gk671.png?width=1277&format=png&auto=webp&s=d04d4a6b577152d26d6f7ea6e0c31f05f7ce80dc)](https://preview.redd.it/63daa1s8gk671.png?width=1277&format=png&auto=webp&s=d04d4a6b577152d26d6f7ea6e0c31f05f7ce80dc)
+
+https://www.reddit.com/r/Superstonk/comments/nylihz/previous_rrp_behavior_on_quarter_ends_massive/
+
+If the US Treasury yield curve snaps down from this instability and the Fed no longer able to prop up the yield curve, then it can drive treasury prices up.
+
+If [/u/atobitt](https://www.reddit.com/u/atobitt/)'s "[Everything Short](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/)" is true and they're actually shorting treasuries, then that can lead to banks defaulting due to the price of treasuries shooting up. When they default, they'll be forced to buy up all the treasuries that they've shorted into the market.
+
+And it is very possible that they are shorting treasuries.
+
+When performing RRP of 0%, the repo market was most likely shut down due to nobody needing cash loaned out. The banks only profitable move was to perform the RRP with the Fed and then short treasuries into the market, rehypothecating the treasuries to other parties. This would have also helped prop up the market by artificially increasing the supply of treasuries (collateral) in the market.
+
+If it's true, and they have truly been performing the "Everything Short", then it could initiate a Global Financial Crisis equivalent to The Great Depression.
+
+Do I want that to happen? No. But is there a chance? Yes, there is.
+
+Is GME going to squeeze? Is the DD just false hopium? I don't think it's just hopium. I believe in the DD.
+
+But some users might think otherwise and not believe in GME or the DD. Hello users outside of [r/superstonk](https://www.reddit.com/r/superstonk/)! If you're reading this, check out the DD on the subreddit!
+
+Even if there's a slight chance of a GME squeeze in your eyes, and all of these signs are pointing to a market crash...
+
+[Why not give it a shot](https://www.youtube.com/watch?v=l4nSHsbFe-o)?

01-Must-Read/2021-06-22-The-Long-Con.md

@@ -0,0 +1,9 @@
+# The Long Con 
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  Saved by [u/bossmighty](https://www.reddit.com/user/bossmighty/) | [PDF Host](https://pdfhost.io/v/O.YHbvSRP_TLC_THE_LONG_CON_The_markets_are_frothing_with_liquiditypdf.pdf) | 
+
+---
+
+[The-Long-Con.pdf](https://github.com/verymeticulous/wikAPEdia/files/6744919/The-Long-Con.pdf)

01-Must-Read/2021-06-22-Through-the-Looking-Glass.md

@@ -0,0 +1,10 @@
+# Through the Looking Glass
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+| Saved by [u/bossmighty](https://www.reddit.com/user/bossmighty/) | [PDF Host](https://pdfhost.io/v/KhuW5HZ~N_THROUGH_THE_LOOKING_GLASS.pdf) | 
+
+---
+
+[Through-the-Looking-Glass.pdf](https://github.com/verymeticulous/wikAPEdia/files/6744911/Through-the-Looking-Glass.pdf)
+

01-Must-Read/2021-06-23-Updated-Go-No-Go-Launch-Checklist.md

@@ -0,0 +1,421 @@
+UPDATE -- Go / No-Go For Launch - The checklist keeping GME on the launchpad.
+=============================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/nothingbuttherainsir](https://www.reddit.com/user/nothingbuttherainsir/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nhh0f1/update_go_nogo_for_launch_the_checklist_keeping/) | 
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+*TL;DR:*\
+DTCC / OCC / ICC etc. & Wall St want key things in place before GME unwinds, and we're now looking at a list that's been mostly checked off. This rocket is just about cleared for launch.
+
+*Last updated: 2021-06-23* | [Original post from 2021-04-22](https://www.reddit.com/r/Superstonk/comments/mvq6rs/go_nogo_for_launch_the_dtcc_checklist_keeping_gme/)
+
+Go / No-Go For Launch
+
+Opinion - Status: Hold ❌\
+*We're on a scheduled hold. Preliminary system checks are good enough to launch, and now we are being held for atmospheric conditions to be just right.*
+
+*GME ignition needs to appear from the outside to be organic, or it will be fairly obvious to the public that The System is built on lies, and run by liars, completely unfair, and this stock was just being flat out controlled for months. Even if Wall St survives financially by implementing all these rules, if they lose the public trust then it is literally "game stopped." They need plausible cover to launch now, the rest is in place.*
+
+1 - Rules of Engagement ✅
+
+2 - Funding ✅
+
+3 - Cover Story for Timing ❌
+
+4 - Avoiding Perception of Responsibility ✅
+
+--- *End TL;DR* ---
+
+Busy few weeks, eh Apes? Figured I'd give this a brush up and post it again since it was a month ago I posted the original. So here's the refreshed, reviewed, reassessed, reformatted, and return of the Go / No-Go Checklist. Freshness stamp at the top, changes by date at the bottom. Please comment with any additions and corrections as always.
+
+Official notice that this is not financial advice, etc etc. I have no idea if any of this is indeed why these things are happening, or if they are even what I think they are. I bought a handful of shares before DFV's Congressional hearing because something seemed fucky, and that was my first stock purchase EVER. If you make financial decisions off of this speculation, you probably do eat crayons like me. I am literally just some Ape on the internet mashing buttons and you're gonna have to explain to your wife's boyfriend why you took this as advice and then spent your whole allowance already this week.
+
+So this [post](https://reddit.com/r/Superstonk/comments/mu9xed/why_were_still_trading_sideways_and_why_we_havent/) from [u/c-digs](https://www.reddit.com/u/c-digs/) is about as close as anyone has come to my personal theory that there is a literal checklist somewhere that is getting marked off before this is allowed to unravel. The DTCC and Wall St (and probably the SEC) definitely do not want this spring to unwind before they are ready, and certainly not in a way in which they don't feel they are in control. These players are Big Corporate dicks with Big Corporate mindsets, and its my bet that they don't do anything without a plan that at least addresses all eventualities.
+
+However, as it is now probably alarmingly clear to them this isn't just gonna go away on its own (cue Apes waving from the windows of the rocket sitting on the launchpad), the DTCC and pals are now scrambling to get the last things in place before somebody trips over the cord to the shredder at 3am and lands on the launch button.
+
+I think the list goes something like this, but am intending this to be a crowdsourced document because there is no way I can keep this all straight on my own, and the GME Investor community has done so so much great DD already. There is definitely more to add in terms of DTCC / OCC / NSCC / SEC rules, and please comment with additional items & sources and I'll try to keep up with editing them into the list. Compiling it here can possibly help determine just how close GME probably is to liftoff. It feels like we aren't that far from it now.
+
+1 - Rules of Engagement
+
+Opinon - Status: Go for Launch ✅\
+*The System would benefit most if new rules about payments in a member default situation are in effect prior to launch, and as far as we know at this point, all rules to cover that scenario that were filed are now in place. They can use remaining days to shore up a few more monetary rules, but there aren't any disaster-level rules still pending out there. My opinion is at 100% Go for rules being in place.*
+
+Let's cover some basics before getting into each specific rule.
+
+Whose rules cover what:
+
+DTCC stands for Depoisitory Trust and Clearing Corporation which is made up of 3 self-regulating bodies:
+
+-   [DTC](https://www.dtcc.com/about/businesses-and-subsidiaries/dtc) - The Depository Trust Company
+
+-   [NSCC](https://www.dtcc.com/about/businesses-and-subsidiaries/nscc) - National Securities Clearing Corporation
+
+-   [FICC](https://www.dtcc.com/about/businesses-and-subsidiaries/ficc) - Fixed Income Clearing Corporation
+
+and handles:
+
+-   Physical Stock Certificates and ownership records, big institutional trades (DTC)
+
+-   Securities trades, clearing, and settlement for nearly all transactions involving US based marketplaces (NSCC)
+
+-   Government Securities and Mortgage-Backed Securities (FICC)
+
+[OCC](https://www.theocc.com/) - Options Clearing Coroporation handles:\
+Options (shocker, I know)
+
+[ICC](https://www.theice.com/clear-credit) - Intercontinental Exchance (ICE) Clear Credit handles:\
+Credit Default Swaps, or CDS for short.
+
+Naming Scheme (yes the whole thing is important)\
+example: SR-DTC-2021-005
+
+-   SR - Type of document filed, SR = Self Regulation
+
+-   DTC - Name of self regulated entity filing it
+
+-   2021 - Year regulation was filed
+
+-   005 - Sequence filed in (5th, so far)
+
+✅ = in effect now\
+❌ = pending review / revision
+
+Rules To Protect The System
+
+Stocks/Securities
+
+-   SR-DTC-2021-003: Obligation to Reconcile Activity on a Regular Basis ✅\
+    *The "You're gonna report your risk daily now, you little shits" Rule.*\
+    Filed 2021-03-09\
+    Effective 2021-03-16\
+    [src](https://www.reddit.com/r/GME/comments/m793h7/new_dtcc_rule_just_passed_in_effect_immediatly/)
+
+-   SR-DTC-2021-004: Amend the Recovery & Wind-down Plan ✅\
+    *The "We'll liquidate your asse(t)s if you default, then make your pals chip in, before we pay a dime ourselves" Rule.*\
+    Also stipulates what the DTCC is willing to cover when reconciling, as in only shares on the books, and why you (yes you Ape) should have a cash account and not a margin account.\
+    Filed 2021-03-29\
+    Effective Immediately\
+    [src](https://www.reddit.com/r/GME/comments/mgs05i/analysis_of_srdtc2021004_dtcc_changing_the_game/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
+
+-   SR-DTC-2021-005: Modify the DTC Settlement Service Guide and the Form of DTC Pledgee's Agreement ✅\
+    *The "We're tagging the shares you lend out so you can't do it more than once" Rule.*\
+    While this won't help prevent the current GME squeeze scenario, and would likely ignite the engines on its own, this will prevent a *GME-like* scenario from happening again in the future. [u/Leenixus](https://www.reddit.com/user/Leenixus/) has posted lots of info around DTC-2021-005 if you'd like to follow the saga.\
+    Filed 2021-04-01 [archived original](https://www.reddit.com/r/Superstonk/comments/o2nx3z/i_have_the_original_sec_srdtc2021005_before_it/)\
+    Removed for further review src-1\
+    Refiled 2021-06-15 src-2\
+    Effective Immediately upon re-filing\
+    [src-1](https://www.reddit.com/r/Superstonk/comments/mpmcyz/good_news_update_on_dtc2021005_according_to_john/), [src-2](https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/DTC/SR-DTC-2021-005.pdf)
+
+-   SR-DTC-2021-006: Remove the Security Holder Tracking Service ✅\
+    *The "We're dropping the old way of tracking shares, cause it didn't work well, and DTC-2021-005 will do it better" Rule.*\
+    It was speculated in another post that the old system of tracking needed to be removed so there was no conflict in implementing DTC-2021-005 (I can't find that post here on reddit anymore, src needed!). It's likely that this could pave the way for 005 to be implemented. As if 2021-05-20 I am more inclined to think that it was removed to keep anyone from implementing share tracking prior to 005 being implemented. Filed 2021-04-22\
+    Effective Immediately\
+    [src](https://www.reddit.com/r/Superstonk/comments/mwhyhw/sec_files_srdtc2021006_removing_the_old_and/) <- also my post
+
+-   SR-DTC-2021-007: Update the DTC Corporate Actions Distributions Service Guide ✅\
+    *The "Stop bickering back and forth over the manual adjustments to your peer to peer trade records via the dumb APO method, and just use the GD computer validated Claim Connect system, please" Rule.*\
+    Way to make a super vague title DTC... This is mostly about borrowed shares and updating who pays how much when circumstances - like rates - change. The old system (APO) needed both parties to just agree on the adjustments and one side could only submit an adjustment at a time, so it was rarely agreed upon in one pass and the bad guys could likely stall with many back and forths. To me this reads as a please use this better thing now, because APO will go away on July 9th 2021 so you'll have to use Claim Connect by then anyways. Since the lender is likely incentivized to use the new system, it may get adopted in higher numbers sooner.\
+    Filed 2021-04-30\
+    Effective Immediately\
+    Mandatory 2021-07-09\
+    [src](https://www.sec.gov/rules/sro/dtc.htm#SR-DTC-2021-007), [Explainer post](https://www.reddit.com/r/Superstonk/comments/n28jes/new_dtc_regulation_posted_srdtc2021007/)
+
+-   SR-DTC-2021-009: Provide Enhanced Clarity for Deadlines and Processing Times ✅\
+    *The "Don't assume we'll be keeping up with our own deadlines just because we have been in the past. We'll do what we want when we want. Also dont cry to us if our choices about deadlines, or someone else's rules about deadlines, kick you in the wallet. We're not chipping in for that." Rule.*\
+    This is basically a re-statement of an ongoing policy by the DTC that their precedent around deadlines/timetables that they themselves have control over should not be misunderstood as a guarantee of them adhering to those same deadlines/timetables in the future. This does not effect deadlines imposed by external regulations though. Further, the DTC stipulates that they are not liable for damages (monetary losses) that are incurred by members from the DTC's choices to act or not act in the same timeframes as they had before, or damages from the actions of anybody else's rules, (SEC, OCC, NSCC, etc).\
+    Filed 2021-06-08\
+    Effective Immediately\
+    [src](https://www.sec.gov/rules/sro/dtc/2021/34-92198.pdf), [Explainer post](https://www.reddit.com/r/Superstonk/comments/o1ds30/new_dtc_filing_srdtc2021009_notice_of_filing_and/), [more info](https://reddit.com/r/Superstonk/comments/o63ev5/dtc2021009_implemented_tomorrow_saying_the_dtc/)
+
+-   SR-NSCC-2021-002: Amend the Supplemental Liquidity Deposit Requirements ✅\
+    *The "We'll margin call your ass if your new daily reports say you're overextended and make us feel scared" Rule.*\
+    Works in conjunction with DTC-2021-003. This rule now appears to be clear to be acted on by the SEC. NSCC filed a Partial Ammendment to this on June 17th for clarification.\
+    Possible insight on why this may have been strategically delayed, via [/u/yosaso](https://www.reddit.com/u/yosaso/) src-4\
+    NSCC-2021-801 Gave Advance Notice of this, and as of 2021-05-04 is cleared to be included with NSC-2021-002. src-2\
+    Filed 2021-03-05\
+    Comment Period Extended to 05-31 / Expected action on or before 2021-06-21 src-3\
+    Approved 2021-06-21 with partial ammendment src-4\
+    Effective 2021-06-23 src-5 [src](https://www.reddit.com/r/GME/comments/mc0zfn/too_ape_didnt_read_summary_of_srnscc2021801/?utm_source=share&utm_medium=ios_app&utm_name=iossmf), [src-2](https://www.reddit.com/r/Superstonk/comments/n51u5d/sec_has_no_objections_to_nscc801/), [src-3](https://www.sec.gov/rules/sro/nscc/2021/34-91788.pdf), [src-4](https://www.reddit.com/r/Superstonk/comments/n67h63/the_reason_why_may_4th_was_important/), [src-4](https://www.sec.gov/rules/sro/nscc/2021/34-92213.pdf), [src-5](https://www.reddit.com/r/Superstonk/comments/o4z0jc/implementation_of_the_proposed_changes_to_the/?utm_source=share&utm_medium=web2x&context=3)
+
+-   SR-NSCC-2021-004: Amend the Recovery & Wind-down Plan ✅\
+    *The "Just so we're clear about stocks specifically, we're really serious about us not paying for your fuckups unless we have to rule" Rule.*\
+    Works in conjunction with DTC-2021-004, but this is specific to securities and was filed first. src-1 This ALSO has language in it about clarifying the mass transfer of customer accounts from a failing member to a stable member. src-2\
+    Filed 2021-03-05\
+    Effective 2021-03-18\
+    [src-1](https://www.reddit.com/r/GME/comments/mc0zfn/too_ape_didnt_read_summary_of_srnscc2021801/?utm_source=share&utm_medium=ios_app&utm_name=iossmf), [src-2](https://www.reddit.com/r/Superstonk/comments/mvybgf/sec_is_expecting_the_need_for_a_mass_emergency/)
+
+-   NSCC-2021-005: Increase the NSCC's Minimum Required Fund Deposit *pending* ❌\
+    *The "We're gonna up your minimum deposit with us from an hysterically low $10K each, to an almost certainly still not enough $250k each" Rule.*\
+    DTCC has submitted this to SEC, but SEC has not approved / published yet, so details may change. src-1\
+    Filed 2021-04-26\
+    Published: 2021-05-10\
+    Approved: Pending, expected action on or before 2021-06-24 (45 days after publication)\
+    Effective: Approval + 10 days max\
+    [src-1](https://www.dtcc.com/legal), [Explainer post](https://www.reddit.com/r/Superstonk/comments/mz9gl6/nscc2021005_has_been_signed_today_implementation/)
+
+Options
+
+-   SR-OCC-2021-003: Increase Persistent Minimum Skin-In-The-Game / Waterfall ✅\
+    *The "You Market Makers are gonna give us more money now in case you fuck up with options later and owe someone more than you have" Rule.*\
+    This is the rule associated with the SR-OCC-2021-801 advanced notice, and SIG filed an opposition during the review period delaying the implementation. src-1 You can read that whiney rant here via this [comment](https://www.reddit.com/r/Superstonk/comments/nhh0f1/update_go_nogo_for_launch_the_checklist_keeping/gznui8r?utm_source=share&utm_medium=web2x&context=3)\
+    OCC-2021-003 is now approved and both should be in effect no later than Tuesday 2021-06-01 10am Eastern (if SEC approval notice counts as the official written notice to OCC members). src-2\
+    Filed 2021-02-10\
+    Approved 2021-05-27\
+    Effective on or before 2021-06-01 10am EST\
+    [src-1](https://www.reddit.com/r/Superstonk/comments/mm8pnz/update_from_sec_on_srocc2021801_aka_srocc2021203/), [src-2](https://www.reddit.com/r/Superstonk/comments/nmjbov/srocc2021003_approved_that_one_was_needed_for/gzqwqzc?utm_source=share&utm_medium=web2x&context=3)
+
+Credit Default Swaps
+
+-   SR-ICC-2021-005: Amend the ICC Recovery & Wind-down Plan ✅\
+    *The "Guys, DTC had a pretty good idea, lets also liquidate members first before touching our own cash." Rule.*\
+    Fairly straightforward with this nugget as described by [u/Criand](https://www.reddit.com/u/Criand/):\
+    "Something really cool is they'll not only wipe out members who default on a certain security, they'll wipe out similar positions in that same security of all their other members IF it's high risk/stress to the market."\
+    Filed 2021-03-23\
+    Approved 2021-05-10\
+    Effective Immediately\
+    [src](https://www.reddit.com/r/Superstonk/comments/nfl69o/new_icc_rules_summary_they_are_preparing_for/)
+
+-   SR-ICC-2021-007: Update the ICC's Treasury Operations Policies and Procedures ✅\
+    *The "Your capital balance sheet is looking a little shaggy there, we think you need a Collateral Haircut" Rule.*\
+    Tightens up what can and cant be considered as collateral, trimming off the stuff that is not deemed worthy, and reducing overall capital, which means you can handle less total risk and/or volatile CDS contracts.\
+    Filed 2021-03-29\
+    Approved 2021-05-13\
+    Effective Immediately\
+    [src](https://www.reddit.com/r/Superstonk/comments/nfl69o/new_icc_rules_summary_they_are_preparing_for/)
+
+-   SR-ICC-2021-008: Update the ICC Risk Management Model Description ✅\
+    *The "We're gonna start using our best guesses on if the collateral for the loans these psuedo-insurance contracts are based on might go crazy in the near future, 'cause shit is getting weird out there" Rule.*\
+    This is about [Credit Default Swaps](https://www.investopedia.com/terms/c/creditdefaultswap.asp), which are a bit complex. Essentially this rule appears it primarily will help to reduce the chances of say, BofA failing because they agreed to get paid to take on some of the risk of a loan made by say JP Morgan, and then BofA got fucked over just because JP Morgain made the loan using a volatile stock as collateral and then that stock went bananas... a stock which everyone probably knew was volatile but somehow wasn't a big factor in making the agreement before this rule. The rule also limits the ICC maximum total losses/payout, and ups initial margin requirements.\
+    Filed 2021-03-31\
+    Approved 2021-05-18\
+    Effective Immediately\
+    [src](https://www.reddit.com/r/Superstonk/comments/nfl69o/new_icc_rules_summary_they_are_preparing_for/)
+
+-   SR-ICC-2021-009: Update the ICC Risk Parameter Setting and Review Policy ✅\
+    *The "We're basing risk on day to day averages now instead of month to month averages" Rule.*\
+    When something strays too far outside of the acceptable baseline, it gets flagged. Now that baseline is automatically calculated day to day, instead of month to month, and manualy reviewed the old way at least monthly. It will result in faster response time to fast moving changes and real risks (safer), but also less shock from too few updates (smoother). All that so they can keep margin levels appropriate. Also cleans up some language to be more generic and descriptive like "Extreme Price Change Scenarios."\
+    Filed 2021-04-02\
+    Approved 2021-05-20\
+    Effective Immediately\
+    [src](https://www.reddit.com/r/Superstonk/comments/nhdw0f/rick_management_updates_just_went_from_monthly_to/)
+
+-   SR-ICC-2021-014: Update the ICC's Fee Schedules ✅\
+    *The "Huuuuuuuge discounts on swaps! Get 'em while they last!" Rule.*\
+    This cuts fees on CDS contracts about 25%, which sounds like they want to incentivize risk sharing even more. Program is for the 2nd half of 2021, and discounts start June 1st.\
+    Filed 2021-05-07\
+    Approved 2021-05-18\
+    Effective Immediately\
+    [src](https://www.reddit.com/r/Superstonk/comments/nfl69o/new_icc_rules_summary_they_are_preparing_for/)
+
+Rules to protect the value of the market in general as best as possible
+
+-   SR-OCC-2021-004: Revisions to OCC's Auction Participation Requirements ✅\
+    *The "Everyone can come to the feeding frenzy party when we liquidate one of you idiots" Rule.*\
+    Allows more firms that were traditionally excluded from an auction of this type to now join in, probably making the market wide bleeding end sooner, and retain more value overall.\
+    Filed 2021-03-19\
+    Effective 2021-05-19\
+    [src](https://www.reddit.com/r/Superstonk/comments/mnpzu5/srocc2021004_why_this_proposed_rule_change_is/)
+
+Non-regulation / Other Announcments
+
+-   Exchange Act Rule 15c3-3 Compliance Letter: Staff Statement on Fully Paid Lending ✅\
+    *The "We're making you keep full collateral on hand for your shit, you've got six months to get it together" letter.*\
+    Letter sent 2020-10-22\
+    Effective 2021-04-22\
+    [src](https://www.sec.gov/news/public-statement/staff-fully-paid-lending?utm_medium=email&utm_source=govdelivery)
+
+-   GOV-1085-21: DTCC / FICC White Paper Announcing WABR added as a Sponsored Member ✅\
+    WABR Cayman Limited is a firm specializing in helping Institutional Sales Traders in times of "thin markets". [u/stellarEVH](https://www.reddit.com/u/stellarEVH/) explains:\
+    *"When a company needs to quickly pay off their debts as in the case of a margin call, it can be challenging for them to gather all the money from their various investments. There are firms in place that are specialized in liquidating their portfolio in a manner to minimize market impact while they pay off their debt."*\
+    Announced 2021-04-23\
+    Effective 2021-04-29\
+    [src](https://www.dtcc.com/-/media/Files/pdf/2021/4/23/GOV1085-21PDF.PDF), via [this post & comments](https://www.reddit.com/r/Superstonk/comments/my1hio/friday_the_dtcc_approved_wabra_morgan_stanley/), linked from [It's Just a Bug, Bro Part 6 - Bug Spray Edition](https://www.reddit.com/r/Superstonk/comments/myl37p/its_just_a_bug_bro_part_6_bug_spray_edition/)\
+    [Additional info on who WABR is](https://reddit.com/r/Superstonk/comments/mz4oza/the_rabbit_hole_of_wabr_cayman_company_limited/) 👀 *Spidey senses are tingling*\
+    *I love this community*
+
+-   MBS978-21: FICC Notice on MBSD Intraday Mark-to-Market Charge - Timing of Intraday Collection ✅\
+    *We've been lenient for the past year cause shit was wack, but we're going back on that regular hourly assesment for margins.* "Starting on May 3, 2021, the fixed time of 1:00PM will be eliminated and the MBSD Intraday Mark-to-Market Charge will return to an hourly assessment." This combined with other things will tighten the screws.\
+    [/u/stellarEVH](https://www.reddit.com/u/stellarEVH/) bringing that good good again: *"For example, it'll be much harder to short GameStop and/or trade in dark pools when you're expected to cover your margin every hour. For the last year, they've only needed to prove they were covered at 1pm."*\
+    Notice Date 2021-04-21\
+    Effective 2021-05-03\
+    [src post](https://www.reddit.com/r/Superstonk/comments/n3m0qu/the_mandatory_dtcc_common_stock_reallocation_for/), [explainer comment](https://www.reddit.com/r/Superstonk/comments/n3m0qu/the_mandatory_dtcc_common_stock_reallocation_for/gwr8n2a?utm_source=share&utm_medium=web2x&context=3)
+
+-   OCC Notice 48718: TEMPORARY INCREASE TO CLEARING FUND SIZE ✅\
+    *Yeah if you could give us some more of your money for a bit, that would be great.*\
+    Yeah they used all caps, and gave 2 days notice before they would just go into members bank accounts to get that money. Must've needed it bad for the 19th, because it normally is just increased monthly on the 1st. Total increase was $588,378,155.\
+    Notice Date 2021-05-17\
+    Deposit by Date 2021-05-19 [by 9am](https://www.reddit.com/r/Superstonk/comments/nfz9xa/huge_crypto_dump_currently_things_are_hotting_up/).\
+    [src](https://www.reddit.com/r/Superstonk/comments/nftyg4/occ_has_issued_a_statement_to_all_clearing/)
+
+*(please help me fill in other important rules via comments)*
+
+2 - Funding
+
+Opinion - Status: Go for Launch ✅
+
+To pay out for shares of GME
+
+-   [SHF Pulling money from crypt0](https://finance.yahoo.com/news/bitcoin-doge-ethereum-ripple-price-monday-19-april-crypto-latest-081427050.html)
+
+-   SHF Pump and Dump on other stocks
+
+-   SHF Liquidate other Assets Under Management (market-wide dive on 2021-04-22?) [Citadel Sell-off?](https://www.reddit.com/r/Superstonk/comments/n0fwx2/kenny_might_be_in_a_bit_of_a_pickle_right_now/)
+
+-   Wind Down and Recovery Strategies (SR-DTC-2021-004, SR-ICC-2021-005)
+
+-   *(other suggestions w/ sources wanted)*
+
+Secure cash to buy up liquidated assets to prevent total market collapse
+
+-   [Big Banks do a Bond Sales](https://www.reddit.com/r/Superstonk/comments/mu8a5m/6_out_of_the_7_top_listed_us_banks_have_made/), [Citigroup: "Me Too!"](https://www.reddit.com/r/Superstonk/comments/mzvcli/citigroup_borrowing_55_billion_in_latest_bank/)
+
+    -   Need plausible reasons for making those sales such as earnings report, or LIBOR to SOFR switch, or *insert wildcard like $50 Bil Football League*, etc ...
+
+-   Banks Re-Structuring / Netting [src](https://www.reddit.com/r/Superstonk/comments/mur8bz/srdtc2021004_the_dtcc_and_jp_morgan_theyre/)
+
+-   [Wells Fargo to liquidate two of its trusts](https://www.reddit.com/r/Superstonk/comments/nh5ed7/wells_fargo_to_liquidate_two_of_its_trusts/)
+
+-   Rule SR-OCC-2021-004 allowing more players at the auction of the defaulting member's assets.
+
+3 - Cover for Timing of Launch
+
+Opinion - Status: No-Go for Launch ❌\
+*This will likely be the very last one, and we'll only know what they will use as an excuse once it's started. I think all the other pieces would need to be in place* (Narrator: They are.) *for them to feel most confident to light the fuse. This will be more oportunistic in nature, I think.*
+
+I'm splitting this into 2 objectives: why GME is going up, and why the market in general is tanking.
+
+GME Go BRRRRRRRRRRRR! Cover
+
+Ideally a plausible Corporate or Market Event that the stock price "should" respond to in order to initiate upward price movement without the timing looking SUS AF and destabilizing the broader market due to fear of systemic problems and/or loss of public trust. These events are mostly out of the control of The System, and one will likely be the ignition.
+
+-   Corporate: ~~AGM Voting Proxy Release~~
+
+-   Corporate: ~~Quarterly Earnings (Q1 2021)~~
+
+-   Corporate: ~~CEO Announced~~
+
+-   Corporate: ~~AGM Vote Count + Board Elections~~
+
+-   Corporate: ~~RC Appointed as Chairman Official News~~
+
+-   Corporate: ~~New Cash Reserves from ATM Stock Offer~~
+
+-   Corporate: Dividend Issue / Stock Split
+
+-   Corporate: Major Partner Announcement
+
+-   Corporate: Possible NFT Announcement 2021-07-14?
+
+-   Market: Broader Retail Gains
+
+-   Market: $GME moves from Russell 2000 to Russell 1000 after close on 2021-06-25
+
+-   TBD / Unkown
+
+Markets Go clank! Cover
+
+Major policy announcements, world politics, regularly scheduled economic reports released... Pick your favorite here, cause they will and already have. This cover will justify why the markets are hemorhaging to hide the fact that positions are being liquidated to start paying for buying-back all those GME shares.
+
+-   Market: Global Supply Chain Issue
+
+-   Market: Liquidity Stress Tests
+
+    -   [April 26th, 2021](https://www.reddit.com/r/Superstonk/comments/mww2ah/dtcc_planning_liquidity_risk_testing_on_26th/)
+
+    -   [May 13th, 2021](https://www.reddit.com/r/Superstonk/comments/n763vq/dtcc_members_are_having_a_liquidity_check_may_13th/)
+
+    -   Note: As far as I can tell, these happened yearly, typically in April/May, but only once... 2 back to back?
+
+-   Government: ~[POTUS joint address to Congress](https://apnews.com/article/joe-biden-nancy-pelosi-coronavirus-pandemic-267e753a5d1ab7a72d3274728b25f63c)\
+    Green New Deal? Capital Gains Announcement: [similar to BS on 2021-04-22?](https://www.bloomberg.com/news/articles/2021-04-22/biden-to-propose-capital-gains-tax-as-high-as-43-4-for-wealthy)
+
+-   Government: [2021-05-06 Congressional Hearing with SEC / Gensler, DTCC / Bodson, FINRA / Cook.](https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=407762)
+
+-   Government: [2021-05-26+27 Congressional Hearing with Big Banks](https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=407740)
+
+-   Government: Monthly [Consumer Price Index numbers released](https://www.bls.gov/schedule/news_release/cpi.htm), next is June 13th
+
+-   Government: [US Treasury Stability Council Meeting June 11th](https://www.reuters.com/article/usa-treasury-stability-idUSL2N2N638S)\
+    Possible platform for policy announcement? Typically hold 6 +/- a year, but this would be first of 2021 and was postponed from May 21st.
+
+-   Government: [US 2022 Fiscal Year Budget Proposal](https://www.reuters.com/world/us/biden-propose-6-trillion-us-budget-2022-fiscal-year-nyt-2021-05-27/)
+
+-   *(other suggestions wanted)*
+
+4 - Fallguy, and the Lack of Prevention
+
+Opinion - Status: Go for Launch ✅\
+*While they will likely have a fallguy decided upon prior to launch, I don't see it as a necessity that would delay it, certainly not like the Rules of Engagement or Funding would. I also think that nothing would keep them from changing the story if something else influences the narrative in an acceptable way shortly after liftoff.*
+
+Blame!
+
+After the market pain is significant enough that the public wants answers, why not lay all the blame on bad actors, and defer attention from the system to try to avoid additional exterior regulation.
+
+-   SHFs (now liquidated) as overly greedy and got what they deserved
+
+-   Retail (as Anarchists, or greedy and oportunistic)
+
+    -   [Forbes article on January Gamma Squeeze](https://www.reddit.com/r/Superstonk/comments/mvf7r3/forbes_reminder_as_we_hodl_towards_the_moass_gme/gvc5c8f/?context=3)
+
+-   Foreign Actors trying to destabilize the US Markets
+
+-   *(other suggestions w/ sources wanted)*
+
+Control Public Image of the System via PR
+
+-   DTCC: ["We're doing a great job! Take our word for it!"](https://www.reddit.com/r/Superstonk/comments/mvozps/dtcc_trying_to_get_ahead_of_the_story_the_most/?utm_medium=android_app&utm_source=share)
+
+-   DTCC: "We're announcing our plan to keep working on a plan to kind of band-aid a problem that's pretty bad and we've known about for awhile, and like we have definitely been talking about it and stuff, but now we're like really gonna talk about it using words like "in-depth analysis" cause up to now we were mostly just talking about it like how you tell that one friend *"yeah, we should totally hang out soon"* and then you never do, but not now cause we're serious now, and it's definitely not because we've gotta talk to the US Congress this week or anything. Like, honestly." AKA the announcement of [the DTCC's T+1 Settlement Plan.](https://www.reddit.com/r/Superstonk/comments/n5b91j/dtcc_rolls_out_plan_and_faq_for_a_new_t1/)
+
+* * * * *
+
+...Meanwhile, at the SEC
+
+"Let's at least *look* like we aren't asleep at the wheel here, lads"
+
+-   [Whistleblower Awards](https://www.reddit.com/r/Superstonk/comments/mrfxvg/secgov_sec_awards_over_50_million_to_joint/)
+
+    -   [47.4% of the Amount of all SEC Whistleblower Awards Ever Given Have Been Awarded in the Last 12 Months (Out of 105 Months of Program Activity)](https://www.reddit.com/r/Superstonk/comments/nf3n64/474_of_the_amount_of_all_sec_whistleblower_awards/)
+
+-   [Closed door meetings](https://www.reddit.com/r/GME/comments/mihiv9/another_sec_closed_door_meeting_scheduled_for_48/)
+
+-   [2021-05-27 Sunshine Act Meeting - Scheduled](https://www.reddit.com/r/Superstonk/comments/nhgh3i/sunshine_meeting_rescheduled_may_27/)
+
+    -   These have been cancelled 4 out of 7 times... so far!
+
+-   Speech by SEC Commissioner Peirce inlcuding the line that the SEC is *"working on a report about the events related to meme stock trading earlier this year, and some regulatory initiatives may come out of that work."* and a few other statements about how the SEC shouldn't be concerned with firms loosing money... aka Tough Titties Archegos, et al.\
+    [src post](https://www.reddit.com/r/Superstonk/comments/n2ax63/something_apes_missed_read_this/)
+
+-   [SEC sues HF, filed 5/19/21- states NAKED SHORT SELLING is ILLEGAL and ask FOR a JULY TRIAL!!!](https://www.reddit.com/r/GME/comments/nhmaxw/sec_sues_hf_filed_51921_states_naked_short/)
+
+Any and all additions you think may belong on this list, feel free to put in the comments, and I'll try to update and give credit where possible. If I got any of these wrong, or you've found better links that explain the rules, let me know in the comments and I'll make those edits.
+
+Contributions noted where possible, and initial start from previous work on Recent Filings by [/u/Antioch_Orontes](https://www.reddit.com/u/Antioch_Orontes/) [here.](https://www.reddit.com/r/Superstonk/comments/msh5mt/a_brief_overview_of_recent_filings_from_the_dtc/)
+
+Looking for the TL;DR? It's at the top.
+
+* * * * *
+
+Buy. Hodl. Buckle Up.
+
+... and make history.
+
+🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
+
+Edit 2021-05-22:\
+Typos, add expected effective timeframe for DTC-2021-005. May 27th SEC Meeting Scheduled. SEC Lawsuit. Restructured the 3rd/Cover section to clarify for some comments and feedback about why I think cover is important. Also by now I've got plenty of reddit points/currency, so spend new money on GME!
+
+Edit 2021-05-28:\
+SR-OCC-2021-003 approved. Add CPI release as market drop cover, US Treasury meeting, US Budget Proposal.
+
+Edit 2021-06-21:\
+SR-DTC-005 approved and in effect, SR-NSCC-2021-002 / 801 approved. SR-DTC-2021-009 added. Updated expected timeline for SR-NSCC-2021-005
+
+Edit 2021-06-23:\
+SR-DTC-2021-009 updated with additional info. Added move to Russell 1000 as possible cover story (thanks [u/godkyle11](https://reddit.com/user/godkyle11/) for the prompt). Updated section 3 to better illustrate corporate events now in the past.

01-Must-Read/2021-06-24-Dark-Pools-Price-Discovery-and-Short-Selling.md

@@ -0,0 +1,34 @@
+Dark Pools, Price Discovery and Short Selling/Marking
+=====================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/dlauer](https://www.reddit.com/user/dlauer/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/o70lid/dark_pools_price_discovery_and_short/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+Recently, and since I've joined this sub-reddit, there have been a ton of questions around the role that Dark Pools play in US equity market structure. I wanted to put together a post to clarify some things about how they operate, what they do, and what they cannot do.
+
+Dark pools were created as part of Regulation ATS (Alternative Trading System) in 1998. Originally they were predominantly ECNs (Electronic Crossing Networks), including ones you're familiar with today as exchanges such as Arca and Direct Edge. Ultimately though, most dark pools after Reg NMS was implemented in 2007 were either broker-owned (such as UBS, Goldman, Credit Suisse and JP Morgan, to name the top 4 DPs today) or independent block trading facilities, such as Liquidnet. Note that I am not discussing OTC trading, which is what Citadel and Virtu do to internalize retail trades. I'll talk about that in a bit.
+
+To understand Dark Pools, and what makes them different from exchanges, you need to understand some regulatory nuances, and some market data characteristics. From a regulatory perspective, it is easier to get approval for a dark pool (regulated by FINRA), than an exchange (regulated by the SEC). This is on purpose - ATSs are supposed to be a way to foster competition and innovation. Unfortunately, that has resulted in 40+ dark pools and extreme off-exchange fragmentation.
+
+Most dark pools are there ostensibly to allow institutional asset managers to post large orders that they do not want to be visible on an exchange. This is the fundamental difference between dark pools and exchanges - no orders are visible on dark pools (hence "dark"), whereas you can have visible orders on exchanges. Now, you can also have hidden orders on exchanges. And there's nothing preventing an ATS from posting quotes (Bloomberg used to do this on the FINRA ADF). However, generally speaking, today, there aren't dark pools that show any posted orders.
+
+So what about trades? All trades in the national market system have to be printed to a SIP feed. It does not matter where they happen. And all trades during regular trading hours (9:30am - 4pm) MUST be within the NBBO. These are hard and fast rules that cannot be violated. All trades on exchanges are reported to the regular SIP. All trades that happen off exchange (ATS or OTC) are reported to the Trade Reporting Facility (TRF) run by NYSE, Nasdaq or FINRA (there are 3 of them). All trades have to be reported to the TRF within 10 seconds of being executed, though the reality is that they are reported nearly instantaneously:
+
+[![r/Superstonk - Dark Pools, Price Discovery and Short Selling/Marking](https://preview.redd.it/32d06z9kn7771.png?width=827&format=png&auto=webp&s=726e2d7857e2bf6d1baeea21eff3e696127ed8d5)](https://preview.redd.it/32d06z9kn7771.png?width=827&format=png&auto=webp&s=726e2d7857e2bf6d1baeea21eff3e696127ed8d5)
+
+There was a question on FOX and Twitter yesterday - can hedge funds "go short" in dark pools and not need to report it? I did not mean to be flippant in my tweet about how that is non-sensical, but I had a long day yesterday and had no brain power left. But such a statement is non-sensical. That's not how dark pools work.
+
+There is practically no difference at all between trades executed on-exchange or off-exchange, especially when you're talking about reporting short positions or short sale marking. The rules are identical, regardless. Short-sale marking is not dependent on whether you trade on-exchange or off-exchange. I'm not trying to make a statement as to whether firms are doing it adequately or accurately, but there is no nexus with dark pools here. I also have never heard of this idea that firms will choose whether to execute on-exchange or off-exchange based on where they want "buying pressure" or "selling pressure" to show up. Every sophisticated trading firm out there is watching the TRF and categorizing every trade that takes place relative to the NBBO. Every time a trade happens at the ask (or near it) they characterize that as a buy. Every time a trade happens at the bid (or near it) they characterize it as a sell. You cannot hide what you are doing in dark pools or through OTC internalization - it cannot be done. All trades are public and reported within 10 seconds.
+
+Here's what I think was trying to be said. If trades are taking place OTC, such as retail orders that are being internalized by Citadel or Virtu, both of those firms qualify as Market Makers. Market Makers DO have an exemption for short selling - they are allowed to do so without having located the shares first. However, they still have to mark those sales as "short" and they are still, under standard rules, required to ultimately locate those shares. Again, I'm not trying to get into whether there is naked shorting taking place, or whether these rules are being followed - that's a different conversation. I'm just trying to help you understand that dark pools are not nefarious, and that there is very little difference between dark pools and exchanges from a trading, position marking and reporting perspective.
+
+Ok, so finally, to get to the meat of this - can you use dark pools and off-exchange trading to artificially hold down the price of a stock? I struggle to see the mechanism by which this can be done. I've never heard of it, other than here. As I've said several times, every trade needs to be reported. Every single retail trade that buys GME at the ask is reported to the tape. There's no hiding that. The only market manipulation I've ever studied and measured, and that has been subject to enforcement action by the SEC, has been on exchanges. That is done with layer and spoofing, or other manipulative practices such as banging the close. Retail buying pressure OTC will be picked up on by firms watching the tape, and it will also find its way on to exchanges as the internalizers need to lay off their inventory (they will accumulate shorts, and want to close out those positions). You might claim that this is where naked shorting comes in, but again that's a speculative leap, and really hard to imagine that firms that excel at risk management would put themselves in such a position. I'm not saying it doesn't happen - enforcement actions and lawsuits make it clear that this is an issue. But even if it does happen, the trades to open those short positions were printed to the tape for everyone to see - they cannot be hidden.
+
+tldr; The only difference between dark pools and exchanges is that dark pools don't display quotes, where exchanges do. Dark pool trades are all publicly reported within 10 seconds. You cannot get around short sale marking and position reporting requirements based on where you trade (dark pool or exchange). I don't believe you can suppress the price of a stock through manipulation that only involves dark pools or off-exchange trading, as it is all publicly reported.
+
+EDIT: Let me clear on something: There is WAY too much off-exchange trading. This harms markets. It acts as a disincentive to market makers on lit exchanges. I want market makers on exchanges to make money, and I want open competition for order flow. Off exchange trading is antithetical to those aims. It has its place for institutional orders. But the level of off exchange trading, especially in stocks traded heavily by retail such as GME is a symptom of a broken market structure with intractable conflicts-of-interest, such as PFOF. When the head of NYSE says that the NBBO isn't doing its job for price discovery, this is what she is referring to. If I, as a market maker, post a better bid on-exchange, and then suddenly a bunch of off-exchange trades happen at the price level I just created, then the off-exchange trades are free-riding my quote. They are taking no risk, and reaping the reward, while I take all the risk on-exchange and do not get the trade. That's a real problem in markets, and it's why I have pushed hard for rules to limit dark pool trading, such as you find in Canada, UK, Europe and other markets.

01-Must-Read/2021-07-14-A-Castle-of-Glass.md

@@ -0,0 +1,316 @@
+A Castle of Glass - Game On, Anon
+=================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/3for100Specials](https://www.reddit.com/user/3for100Specials/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/ok2e0b/a_castle_of_glass_game_on_anon/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+***Imperative top of post edit***: For anyone who's *already read this post***,** please go to the bottom and tell me to edit 3 isn't saying what I think it's saying...that info is a bit out of my field so I need help verifying this, but I deduced to the best of my ability...if I'm right in reading that.*.69420D chess has been played by RC and Gamestop..*.
+
+EDIT 2: Apes, I need your help. There is someone impersonating the 'leavemeanon' account I described throughout my post. The biggest question is *how did this user get approved by the mods, without any evidence provided to back their claim?*
+
+More details are found below in my edited response to the pinned mod post. this *needs more eyes.* Just as in my post, I do not ask for anyone here to believe anything, *but what they see. Every link is provided for you to assess with your own eyes and come to the most logical conclusion YOU believe.* This needs an explanation.
+
+Preface:
+
+The game that is being played is not simply *just* a House of Cards. I'd argue that it's *far larger* *(no heat towards attobit, luv ur material, wouldn't be here without it, truly <3).* The massive entities we call the Big Banks, the Market Makers, the Short dicked Hedge-funds, The Fed, etc, do not simply fall down over the course of a day. No...I'd argue that when they fail..they come crashing down from their Castle of Glass. One that has been forming cracks throughout its structure *since the day it was conceived.* A deteriorating castle which can no longer be unseen, nor..undone. Only, replaced.
+
+Before we get to the solution though, you must first understand the core aspect of the problem. To highlight this problem, I'll be referring to a post that is an *absolutely essential read* so the second half of this post makes sense. (You'll find it below in a minute)
+
+I'll break everything down in the simplest way I can so you have an idea of what you're walking into. Just know we're going to be discussing *everything* from the OP, his *name*, ETFs, RRPs, NFTs, and the glorious three words, which may very well tie them all together. *Game on, Anon.*
+
+So without further ado,
+
+---------------------------------------------------------------------------------------------
+
+Part I: The Crux
+
+This post is a follow-up to my previous. I had attempted to shine some light onto a DD that was flying far too under the radar for the God-Tier level of information contained within it. It was posted roughly a month ago. It was unlike any I had read before it and till this day, continues to be unlike any I have read since. I'm talking thermonuclear level of information here.
+
+This is the case for a few reasons. I'll outline them below so you have a brief understanding to start. (I'll also be quoting/referencing myself from my other post a few times to save time, so if you see similarities, just know I'm a lazy fuk).
+
+1.  The author: The OP behind this DD went by the name, [u/leavemeanon](https://www.reddit.com/u/leavemeanon/). Shortly after dropping this thermonuclear analysis on *HOW* the shares have been suppressed and *WHERE* they are most likely located. He vanished, but unlike the Avatar's flake ass, his job was done.
+
+2.  The Job: *exposing the primary methods of fuckery utilized by the short gang, the Big Banks, and even the Fed...down to the BONE.* The depth of analysis here is *still* astounding, but that's not even the kicker..its the fact he drops a God tier DD and makes a claim like this:
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/b258dyt2y5b71.png?width=704&format=png&auto=webp&s=6ba0fddb29ca59535ad5bca765ddbbf4094b4643)](https://preview.redd.it/b258dyt2y5b71.png?width=704&format=png&auto=webp&s=6ba0fddb29ca59535ad5bca765ddbbf4094b4643)
+
+[u/leavemeanon](https://www.reddit.com/u/leavemeanon/)'s DD: <https://www.reddit.com/r/Superstonk/comments/nt8ot8/rip_uleavemeanon_where_are_the_shares_part_1/?utm_medium=android_app&utm_source=share>
+
+The profundity of the statement in yellow is something that you will *only understand if you read his post.* The likely realization you'll come to once you do is that there is absolutely no way that someone making *this claim*, drops a DD with this kind of analysis, then just goes off and deletes his account.
+
+Self quote: "When asking myself, why tf would someone go this far into a DD analysis and delete their account shortly after? Along with going by the name [u/leavemeanon](https://www.reddit.com/u/leavemeanon/), I found myself coming to the same conclusion each time:
+
+*This. is. what. this. guy. does. He might as well be an unofficial whistle-blower who wanted no traces back to him, bc the info contained in his DD is PRECISELY what is occurring right now."*
+
+I wrote this statement on my previous DD just over a month ago. I want you guys to pay special attention to that last sentence because if you read through that post, you'll realize one more thing.
+
+It's not only *still* dead on, but becoming even MORE relevant in relation to the events it had described a whole-ass *month back.*
+
+Now if you haven't read the post for some dingle reason..I'll provide you OP's ELI5 to give a snippet of the problem, b/c if we do not understand the *problem,* then the *solution* will not make sense.
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/31f2e78rw5b71.png?width=701&format=png&auto=webp&s=2d74be4b534839192341f10a0fb1e770ff647ddb)](https://preview.redd.it/31f2e78rw5b71.png?width=701&format=png&auto=webp&s=2d74be4b534839192341f10a0fb1e770ff647ddb)
+
+So where does the problem truly lie? Based on OP's post. It's none other, than the fuckin ETFs. OP explains the inner workings of the ETFs in a way I've never seen anyone do before. He even links this video for us real special apes, to understand.
+
+<https://www.youtube.com/watch?v=iX7fOx5G40A&t=323s>
+
+So assuming you now understand the problem, here's an idea of the severity, as disclosed within part 3 of OP's post. Spoiler alert,
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/jcke95lsw5b71.png?width=707&format=png&auto=webp&s=9d961d2f3a843e270ecc6747f7703dcd87fc1ca2)](https://preview.redd.it/jcke95lsw5b71.png?width=707&format=png&auto=webp&s=9d961d2f3a843e270ecc6747f7703dcd87fc1ca2)
+
+We're not done yet, remember..only once you understand the *full extent of the problem, will the solution make sense.* So to add even more juice to the flame, here's a video by Charlie Vid's, which he released on July 10th. It shows how all those RRPs...you know..those multi-fuckin billion dollar funds being moved around on a daily basis...are likely piled *right into the fuckin E T F's.*
+
+<https://www.youtube.com/watch?v=NhS5FgfO6Jg>
+
+This video has only stood to further validate the point [u/leavemeanon](https://www.reddit.com/u/leavemeanon/) made a whole ass month back. The information he's discussing is still pretty novel and needs more eyes, but the connection he makes in that video is hard to argue against. Even if you don't fully grasp wtf that shit means, and let's be honest, most of us still don't b/c RRPs are the most absurdly convoluted thing on this planet. Nonetheless, the big picture is pretty evident. From this video, it seems almost entirely plausible that these transactions between the Fed and the other end of the parties involved (the Big Banks) are being done illegally at historic levels, to *keep the entire market from collapsing.*
+
+To provide a better idea of what *may* be going on here, I'm going to refer to someone who seems to have a far clearer grasp on these transactions than myself. I'm fine with speculating on most things but these RRPs though, I'm way too smooth-brained for that and the last thing I need is to be throwing a 69th definition of what they mean into the mix.
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/hpucxdxtw5b71.png?width=1121&format=png&auto=webp&s=79fbcdd82cae68bad05dffec310c6f841199ee52)](https://preview.redd.it/hpucxdxtw5b71.png?width=1121&format=png&auto=webp&s=79fbcdd82cae68bad05dffec310c6f841199ee52)
+
+This may also explain why most of the rules released in relation to the derivatives market seem to have only slowed down recent events, but not much more. I'm saying this because the way some of those rules were written, they sounded like they would dice up the short's plan of approach completely. Though there does *seem* to be a clear impact on how GME has been trading since most of the rules were implemented, *they haven't ended the game.* To me, this likely means that the greatest source of fuckery held by Shortgang and Co. lies elsewhere.
+
+The Married-puts, the dark pools, or whatever else method of manipulation these limp-dick cum-dumpsters have up their sleeves may be *some* of the better-known gears behind their scheme, but I'm willing to be *it's the ETFs, which are the true source of their Fuckery.* These transactions described in the video above, and further theorized upon by the comment attached, are occurring *through the entire ETF market.*
+
+Part II - The Connection
+
+Now that you understand the problem, we are *almost* cleared to move onto the solution. Before going further, I need to provide some context here. My previous post, as mentioned earlier, was intended for a single purpose: Shedding light on [u/leavemeanon](https://www.reddit.com/u/leavemeanon/)'s DD. Shortly after dropping it though, I received a comment and message from a few users who sent me down one hell of a rabbit hole. As in that post, I was making some tin-foil hat connections to the meaning behind [u/leavemeanon](https://www.reddit.com/u/leavemeanon/)'s username. Though this part may not necessarily even be linked, it's important I mention it because had it not happened, I would not have discovered what I believe to be the *solution*.
+
+Moving forward from here, we're going to be treading over some speculative waters and more than likely, be testing that 4-hour erection window before you need to call your doctor. They might have to raise the bar on that one if the following of what I've found is *even remotely correct.*
+
+This part may sound absurd at first, but I only ask you to trust me until you reach part 3. For most of part 2, I'm explaining because I feel it important to clarify *how I came to my conclusions.* My thoughts in this section don't necessarily *have* to be true, and I wouldn't be surprised to find out if this ends up being the case in the future.
+
+That being said, *their relevance in this DD is that of an intermediate*. They are what helped me discover what I believe to be the *solution for the problem described above.*
+
+My speculative journey would lead me down an immense rabbit hole roughly a month ago. It would begin with a fascination with Anon's DD but soon evolved to also include the method of its deployment (OP deleting his account shortly after dropping it), the technical but extremely concise language utilized, and the structure of its writing, as I began to ponder the *meaning behind OP's name*.
+
+The now-deleted user, who went by the name of 'leavemeanon" would ring a few bells for another ape, that would comment the following on my post:
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/bk2rbtcvw5b71.png?width=660&format=png&auto=webp&s=cd3afb645f019a42f0d0ae6630c8501cdab70d45)](https://preview.redd.it/bk2rbtcvw5b71.png?width=660&format=png&auto=webp&s=cd3afb645f019a42f0d0ae6630c8501cdab70d45)
+
+It was at this point that I began to speculate whether there was a connection between Anon's name and the phrase above found on Gamestop's NFT website. Now I cannot state that there is a direct relation between the two, but I find it necessary to shed light on the connection I theorized (with the help of some amazing apes), regarding what *I believed it to be.*
+
+what if, the now-deleted OP's name was in reference to more than just 'leave me anonymous'? What if...OP's name was an attempt to send us a message about the material covered in his post in regard to the ETF market?
+
+Here is the likely-to-be unlikely link: the word Anon is defined as "soon, shortly". OP went by the name LeaveMeAnon. I.e leave me '*soon, shortly'.* So naturally, I went full tin-foil mode and chased the idea further down the hole. I made the following assumption in doing so, what if OP was telling us,
+
+"the material I'm covering, the current ETF market as we know it, is to be *left behind soon/shortly, and let me explain why"*
+
+Whereas 'Game on, Anon', a phrase located throughout Gamestop's NFT website, if used under the same pretense, could refer to *"Game on, Soon/shortly".*
+
+So the link that would bring me to the absurdly coincidental connection that may, or may not have been fueled by an unhealthy amount of confirmation bias at the time:
+
+Anon's post is created with knowledge equitable to damn near Burry himself, with the sole purpose of exposing where the *true problem lies* in the GME saga. He mentions married-puts, high-frequency trading, and ETFs in-depth to show this. Yet, it is the latter most issue that gets the largest emphasis placed on it. Why do I believe that?
+
+Primarily because the more I looked into this situation, the more I began to see that the institutions involved on the short side of GME aren't the Castle of glass, they simply *live in it*. The Castle itself...is the entire *ETF market.* A structure which throughout and within it have become increasingly prevalent by the passing of each day. They are quite literally, *a legal method of naked shorting*.
+
+Where Anon takes the time to reveal the problem, it's Gamestop, the company itself, that has quite literally been showing us the *solution to this problem.* All of which it has been doing through its *actions, not its words.*
+
+Part III - The Solution
+
+If you made it this far, just know I'm proud :')
+
+Part II is certainly the most tin-foil section in this post, but as you proceed through part III, you'll soon realize why I found it necessary to provide all that information. This is certainly my favorite part. Stick through to the end and you'll see why we save the best, for last.
+
+Moving forward right where we left off - If you go onto that same NFT website, copy the link which is posted on their NFT page, paste it into google, and open the first tab from the etherscan website and click on the 'contracts tab', guess what you'll find there...
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/dw2amyuww5b71.png?width=700&format=png&auto=webp&s=71586f7708fd74a1dc32d2d77bee979d47d8a668)](https://preview.redd.it/dw2amyuww5b71.png?width=700&format=png&auto=webp&s=71586f7708fd74a1dc32d2d77bee979d47d8a668)
+
+Still, think it's a simple coincidence? It's alright, I mean "it's not it actually means anything...*" right Anakin?".....*zooms in closer*....." right..?**
+
+Lol don't actually try to zoom in, there isn't shit there if you do that. But... third time's a charm, right? what if there's more to that phrase than just some random ass meaning?
+
+To find out, I did some more digging around that term after finding the above which would lead me to find the following tweet:
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/3g9t4kxxw5b71.png?width=553&format=png&auto=webp&s=2e69a9e45aaab0e47149e9ef8d48a895e4a069df)](https://preview.redd.it/3g9t4kxxw5b71.png?width=553&format=png&auto=webp&s=2e69a9e45aaab0e47149e9ef8d48a895e4a069df)
+
+https://acceleratedcapital.substack.com/p/the-metaverse-index-
+
+That phrase...look familiar? Yeah...we're about to enter solution territory...and for you "I only believe after a 4th, 5th, 6th coincidence" apes, don't worry. I'll get there anon ;)
+
+The link above will take you directly to the page they've shown. Upon finding this tweet, I looked into what exactly these guys were talking about. After reading in-depth about what exactly this 'Metaverse' is, as well as viewing some of the other links they have posted on their website, you'll find information about its relation to NFTs, *Blackrock*, and something known as the Index Cooperative.
+
+Now, why exactly are these things all noteworthy? Well, if you don't live under a rock and are a certified retarde like yours truly, you'll remember some hype going around with Gamestops NFT plans. But before we get to that, let's put this together in a cascading manner so you fully grasp what we're looking at here.
+
+What is the *Metaverse* exactly?
+
+-   Per Wikipedia: "*The Metaverse is a collective, virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the internet"*
+
+-   It's further described as a basket of 15 tokens that serve the purpose of capturing entertainment trends, sports, and business shifting to virtual reality.
+
+-   The next absolutely fascinating find in regard to the Metaverse index is one that requires you to zoom out and view the bigger picture. By doing so, you'll begin to understand *what it's trying to change*. An article that goes extremely in-depth on it would provide this insight:
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/0evviqy7x5b71.png?width=706&format=png&auto=webp&s=c42c57f41dbd2a47f856799c5b1fbca70e79b9a2)](https://preview.redd.it/0evviqy7x5b71.png?width=706&format=png&auto=webp&s=c42c57f41dbd2a47f856799c5b1fbca70e79b9a2)
+
+https://www.masterthemeta.com/business-breakdowns/into-the-void
+
+This article above (absolutely excellent read btw) is what links our topic of focus. N F Ts. Notice the black-highlighted sections, primarily *the bottom one.*
+
+This information takes us back to Accelerated Capitals website. Here we find a bit more relative information to *virtual ownership via NFTs, gaming,* *virtual reality, and entertainment"*, as well as the inclusion criteria it has before an NFT can be issued under it.
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/zqyi588bx5b71.png?width=519&format=png&auto=webp&s=5e30ec3cb2e5d9cfe689bf66d55b119a1c0741e6)](https://preview.redd.it/zqyi588bx5b71.png?width=519&format=png&auto=webp&s=5e30ec3cb2e5d9cfe689bf66d55b119a1c0741e6)
+
+https://acceleratedcapital.substack.com/p/the-metaverse-index-
+
+I highlighted the 3 month period because if I remember correctly...there's a company out there that has something to do with gaming, which was supposed to go bankrupt..but didn't..and similarly *issued an NFT token a few months back...what the date on that?* 4/07, now I'm not the best at math but roughly 3 months since then would be...😎 (s/o [u/LordoftheEyez](https://www.reddit.com/u/LordoftheEyez/) for the help on clarifying the timeframe!)
+
+But let's get a bit more specific, wtf *is the Metaverse Index really?*
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/zzodtd4ex5b71.png?width=560&format=png&auto=webp&s=7751bd534f1a59ef5852a709c93fe7e153864077)](https://preview.redd.it/zzodtd4ex5b71.png?width=560&format=png&auto=webp&s=7751bd534f1a59ef5852a709c93fe7e153864077)
+
+Oh boy, well now we're getting somewhere. After looking into what exactly the Metaverse index was, I found myself directed towards something called the *Index Cooperative (Coop Index).* Think of this thing as the very top of the cascade, it contains *other blockchain-based indices within it, such as the Metaverse Index.* Upon visiting The Index Coop website, you get a pretty baseline idea of what it is to better explain:
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/k3lb9ebfx5b71.png?width=670&format=png&auto=webp&s=72448ae5aad8c7dfa1ec6d27ee55884c8db2231e)](https://preview.redd.it/k3lb9ebfx5b71.png?width=670&format=png&auto=webp&s=72448ae5aad8c7dfa1ec6d27ee55884c8db2231e)
+
+Just a refresher on the cascade of terms here as I explained them a bit out of order, from the highest --> lowest level of priority. (also priority here isn't me saying least is worst lol, it's simply in relation to where they actually fall relative to one another)
+
+Index Cooperative > Metaverse, etc > NFTs
+
+Because this cascade functions *entirely separate from the modern-day stock market which includes modern-day ETFs as we know them, they play by COMPLETELY different rules.*
+
+-   It'd be an absolute shame if a company that was *shorted to high-hell...decided to jump ship and hop into this thermonuclear fueled fuckin rocket,* and light up all the dipshits who decided to bet against it..
+
+-   *A shame for those dipshits, that is.* Fkn dingles lmayo..alright back to semi-serious mode...
+
+Going forward, I did some deep dives through other Reddit pages to learn more about this thing, and to my surprise, I got a damn good explanation of *what EXACTLY is the Index Coop attempting to become. It is as follows,*
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/18rghmqgx5b71.png?width=351&format=png&auto=webp&s=d86df95bc179c813eab794690b4e909f681427a2)](https://preview.redd.it/18rghmqgx5b71.png?width=351&format=png&auto=webp&s=d86df95bc179c813eab794690b4e909f681427a2)
+
+"OVERVIEW OF INDEX"
+
+"[Index Cooperative](https://www.indexcoop.com/) is a DeFi project that's going after the multi-trillion-dollar [ETF](<https://en.wikipedia.org/wiki/Exchange-traded_fund#:~:text=An%20exchange%2Dtraded%20fund%20(ETF,the%20day%20on%20stock%20exchanges)> (exchange-traded fund) market. At its simplest, an ETF is like a basket of assets (be it stocks, bonds, commodities, or crypto) that can be traded in a group. Companies like [Blackrock (under its subsidiary iShare) and Vanguard each have over a trillion dollars](https://www.etftrends.com/10-biggest-etf-issuers-of-2019-by-market-capitalization/) under management in the form of ETFs. ETFs have been so popular, that people like [Michael Burry ](https://en.wikipedia.org/wiki/Michael_Burry)(of [*The Big Short* ](https://en.wikipedia.org/wiki/The_Big_Short_(film))) have called it a "[passive investment bubble](https://www.etfstrategy.com/passive-investing-a-bubble-says-big-short-investor-michael-burry-10449/)"."
+
+Two things should stick out to you off the bat:
+
+1.  "Own the *Blackrock* of DeFi" while stating *Ethereum ETFs as being a business with a multi-trillion dollar upside.*
+
+2.  *"Index Cooperative* *is a DeFi project that's going AFTER the Muti-trillion ETF market"*
+
+Putting these two together took a minute, I found myself asking, how tf Blackrock was thrown into the loop? so I started scavenging through a few more articles through Accelerated Capitals page and found this:
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/hm2475wjx5b71.png?width=523&format=png&auto=webp&s=1a6774dc5f83719f90e5106767f6a53a222267a3)](https://preview.redd.it/hm2475wjx5b71.png?width=523&format=png&auto=webp&s=1a6774dc5f83719f90e5106767f6a53a222267a3)
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/qx2k5askx5b71.png?width=568&format=png&auto=webp&s=1725e3f6de6d82378226d7df2c632af86c79c461)](https://preview.redd.it/qx2k5askx5b71.png?width=568&format=png&auto=webp&s=1725e3f6de6d82378226d7df2c632af86c79c461)
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/y8sq7mhlx5b71.png?width=596&format=png&auto=webp&s=e702330d584be66568d423ac51d2b7ba187816a3)](https://preview.redd.it/y8sq7mhlx5b71.png?width=596&format=png&auto=webp&s=e702330d584be66568d423ac51d2b7ba187816a3)
+
+TA:DR/conclusion:
+
+Let's bring all this together now, because if you've made it this far, then you're likely still taking all this in. I know, it's a lot to take in and I also understand that some of my conclusions are speculative. In the end, this is truly all we can do until the elephant in the room gets so big, that it is no longer possible to ignore or deny it. For this reason, I ask each and every one of my fellow apes to dig into every piece of information I've provided above and reason these things out for themselves. Follow the evidence, question the data, question the logic, and deduce the flaws. Only then can you truly justify to yourself that the investment you've made in this stock, was done so out of confidence, and genuine Due-Diligence.
+
+We began by introducing the problem, because, like any other problem you wish to solve, you must first understand the problem. The more complex and/or convoluted that problem is, oftentimes the longer it can take to ascertain the necessary information in *properly* learning about it. This is something we covered in part I, in which section I introduced you to the elephant in the room, the ETF market, or as I like to call it, The *Glass Castle.*
+
+In part II, I provided insight into what I like to think of as the *intermediate,* between the problem and the *solution.* Though I do not have high expectations for those connections to be outright true, they did not need to be. Their purpose was served the moment they led me to find everything I wrote about in part III.
+
+Within this final part, I described to you *the solution*. IF I'm right in my thought process here, THEN the actions being taken by RC and Gamestop are quite literally, *pointing in a single direction*.
+
+Changing the game and giving the *power back to the players* isn't just about changing the company, no...It's about shifting the ENTIRE damn landscape of how the modern-day economy functions. This change, the NFT initiative currently being taken by GME is with damn near certainty moving towards one goal..before we describe that goal, let me provide one last refresher, but this time with analogy's so there is not a single ape left behind.
+
+1.  At the very top, you have the largest basket: the Index Cooperative (think of this as the new blockchain stock market)
+
+2.  Within this large basket, you have multiple medium-sized baskets: The Metaverse Index, Defi-Pulse index, etc. (Think of this like the SP.Y)
+
+3.  And within individual *medium-sized* baskets, you've got NFT's (think a jet-fueled gaming company ran by a fuckin 69D chess master)
+
+Imagine an economy where there is no longer a middle man, by which I mean the modern-day banking system as we know it. Ask yourself, if you had the ability to choose a completely different system, where the *power of decision-making and investing potential lies in your hands, and not in that of some middle-man who would rather use it for his own personal benefit at the cost of YOUR losses, would you use it?*
+
+Quite *likely*, I'd say. Unless you enjoy getting hoed by greedy scumbags, but you probably wouldn't have made it this far in this post had that been the case. This leaves us to the ultimate question, *what exactly is RC doing?*
+
+Based on everything I've shown you, He's planning on cutting out the middle-man. These modern-day Big Banks and pretty much every other financial institution from the SEC to the Fed have been laying in bed together for decades. In doing so, they thrived within their castle while the rest of humanity continued to struggle, often unable to make even our most *basic* ends meet.
+
+Yet in the end, it was *this* greed that blinded them. *This* greed allowed their own naivety to consume them. Most importantly, it was their unending hunger for power and wealth that created a facade so great, that they could no longer see that karma isn't a bitch. Karma is a fuckin mirror. This is the true cost of their "opportunity".
+
+And those cracks? Each day that passes, they spread further and deeper. Its flaws can no longer be unseen, nor can they be *undone.*
+
+Only, replaced.
+
+I'd argue the game isn't *about* to change...but rather,
+
+I'd argue, it already has.
+
+P.S Larry Cheng, GME board member, and Matt Finestone, Blockchain guy.
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/he11uoanx5b71.png?width=719&format=png&auto=webp&s=71ae4b3ff60cee1aeac8db24f58c98eacd22084d)](https://preview.redd.it/he11uoanx5b71.png?width=719&format=png&auto=webp&s=71ae4b3ff60cee1aeac8db24f58c98eacd22084d)
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/v7hws3tnx5b71.png?width=720&format=png&auto=webp&s=d0e83ff0f441722f5011e477419d82d2c13ddb4e)](https://preview.redd.it/v7hws3tnx5b71.png?width=720&format=png&auto=webp&s=d0e83ff0f441722f5011e477419d82d2c13ddb4e)
+
+None of this is financial advice, I repeat, I still do not know how to walk on all two's. Thank you for your time.
+
+EDIT: There's a pretty fancy pants wrinkly-brained ape down in the comments who did a solid job of providing a description of the kind of changes I had envisioned while writing this DD. I didn't get around to including most of the things he's stating, but they are certainly on the same track of thought process. So, it's only right I add his comment for all apes to see. I've described the process, this is what the results, I believe, will look like,
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/ptyywbopx5b71.png?width=739&format=png&auto=webp&s=d9b3fe851f9f02a4b6e0fc803430a2ee68f697de)](https://preview.redd.it/ptyywbopx5b71.png?width=739&format=png&auto=webp&s=d9b3fe851f9f02a4b6e0fc803430a2ee68f697de)
+
+EDIT 2: This post was partly inspired by this ape, I had shared my previous DD onto the post containing the video which tied the RRPs to the ETFs. Upon further conversing with this ape last night, he provided me with, what seems to be a hint and I believe, this is what he's getting at. I'm at my 20 image count but this was his statement:
+
+"I'll drop this Easter egg on you."
+
+"Simplicity. Complexity is meant to hide complexity in the markets. Also meant to distance simplicity in relationships. The most complex situations are usually handed over a simple old fashion between friends...or foes. Game on Anon"
+
+My response, after pondering these words:
+
+"simplicity...simplicity in a complex situation, is leaving the complex situation entirely. Their system and all of its cracks, cannot be unseen, nor undone. To replace a system that is so evidently flawed with its complexities requires a simple solution*, leaving it behind entirely, and creating something new.*
+
+"This is my take on your wise words. Game on Anon"
+
+TIT SLAPPIN EDIT 3: Holy fucking. shit. Apes, I need all eyes on this.
+
+Please correct me if I'm wrong as this is out of my field.....but tell me this doesn't fuckin read the way *I think it reads...*
+
+GME PROSPECTUS SUPPLEMENT FILING TO THE SEC, JUNE 9TH, 2021 - top of page 16
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/opdli35tx5b71.png?width=1860&format=png&auto=webp&s=d2e6624d4f5c3c3d7249c04e8cb62ffcefe81dca)](https://preview.redd.it/opdli35tx5b71.png?width=1860&format=png&auto=webp&s=d2e6624d4f5c3c3d7249c04e8cb62ffcefe81dca)
+
+Edit 4: Alright apes, I'm just getting around to updating this for inclusion of insight from an ape who is far more versed into this type of language than yours truly. The portion you see below was a conversation I had with this very kind mod from another sub, as I had to post this in other locations due to the initial difficulty of getting it onto the 'Stonk. This portion has actually been included in the other posts but since I submitted this version before having the conversation below, and it was pushed forward by the mods on superstonk at a later time, it didn't incorporate this conversation at that time. Hence, why I've provided this edit now. It's been a long 24 hours fighting the good fight in an attempt to get people on this sub to see this material, and though a success, I had to rest up so my body could hodl. That's the context, now the insight.
+
+The breakdown provided by Theta here *seems to be* *far more conclusive in regard to what all that suit talk is truly stating***. Read it a few times over if you have to, but if logic is our basis, then this does make sense until unless we find out otherwise.** Additionally, this ape was able to look around and find some backing for his statement as well! So truly bravo to you sir, know that your assistance in this is greatly appreciated [u/Theta-Voidance](https://www.reddit.com/u/Theta-Voidance/).
+
+[![r/Superstonk - A Castle of Glass - Game On, Anon](https://preview.redd.it/8yhyuh2u98b71.png?width=679&format=png&auto=webp&s=9e0343d2e0dc5f9e18b9e9c9401631a6023884f0)](https://preview.redd.it/8yhyuh2u98b71.png?width=679&format=png&auto=webp&s=9e0343d2e0dc5f9e18b9e9c9401631a6023884f0)
+
+Naturally, where one perspective is correct in deducing the suit-speak, another deduction remains ape-speak. So I crossed off my initial assessment now that we've been provided some cleaner insight, but you'll still find it below for your apely pleasures.
+
+~~I've read this literally 20 times over...I've even read the last two damn pages 20 times over to make sure what it's leading up to is actually~~ ~~*what I think it is...*~~
+
+~~I've highlighted it in three different colors to make the transition of statements easier to read, or harder lol idk:~~
+
+1.  ~~Yellow -~~ ~~*if the DTC fails to do its job, and they are not*~~ ~~*effectively replaced within a 90-day allotted period by a succeeding depository...*~~
+
+2.  ~~Green -~~ ~~*we will issue*~~ ~~*a different type of security different than the type already in the market, but still somewhat similar to it..*~~
+
+3.  ~~Blue -~~ ~~*But also, one more thing you fucboys...at any given point in time, and based on our absolute SOLE discretion..*~~
+
+4.  ~~*RED - We may decide to just say fuck it, and issue our OWN security which is COMPLETELY*~~ ~~*SEPARATE*~~ ~~from the type already IN the market, AND the same condition apply under the circumstance we swapped them earlier for the semi-similar securities~~ ~~(referenced in the green highlight),~~ ~~*in case you try and pull a fast one with those too...*~~
+
+S/o to [u/Apprehensive-Use-703](https://www.reddit.com/u/Apprehensive-Use-703/) bringing this to my attention...smart ass fkn apes out there man..
+
+Guys....I need some serious wrinkles on this....this is not the shit that I do lol, so someone confirm to me that I'm not geekin and that's *not how that fuckin reads.....because it sounds like Gamestop has literally planned for the TRANSITION step to the shit I've covered in this post.*
+
+-------------------------------------------------------------------------------------
+
+Edit 5: Upon discovery of a tweet dating back to April by a sharp-sighted ape in the comments, we may have some further connection to the *Metaverse and Gamestop's NFT website motto:*
+
+"Here's the link provided by [u/WholesomeLowlife](https://www.reddit.com/u/WholesomeLowlife/)
+
+<https://mobile.twitter.com/indexcoop/status/1379872194172317696>
+
+Where have I seen *players, creators, collectors before?* <https://nft.gamestop.com/>"
+
+-------------------------------------------------------------------------------------
+
+And another addition from an Ape that brought some more fascinating insight to me earlier as well, This is in respect to the initial NFT token issued by Gamestop a few months back, here's his findings:
+
+"Killer DD! So we know the ERC-721 is the 1 GME coin. The Metaverse uses ERC-20 tokens from my understanding. If you look in the wallet that has the 1 ERC-721, it also has 420.69 of the ERC-20. <https://etherscan.io/address/0x10b16eede03cf73cbf44e4bfffa3e6bff36f1fad#comments>
+
+I remember initially talking was a perceived scam but idk if that's the case. I think you're on to something. There is also a wallet that has process over 10k transactions of the ERC-20 coin but idk if that means anything. Hope you see this. If not, I'll try a message" - [u/kevykev89](https://www.reddit.com/u/kevykev89/)
+
+-------------------------------------------------------------------------------------
+
+These findings are certainly fascinating, to say the least..so I ask you, how much do *you* believe in coincidences? I encourage each and every one of you to ponder upon these relations and come to your own conclusions which make the most sense to *you***. I know what I believe, and I stand by my thoughts on those things. All I can hope for is that you find the same hope that I may have. Sometimes, speculations and hypotheticals are just that, but sometimes,** *there's more to them, than may at first, meet the eyes.*
+
+*Game On, Anon.* 💎
+
+*Power to the Players 🚀*

01-Must-Read/Billionaire-Boys-Club-by-BadassTrader/2021-06-14-Billionaire-Boys-Club-Part-I.md

@@ -0,0 +1,148 @@
+IS THIS THE FINAL BOSS? John Petry and Ken Griffin Billionaires Boys Club - And the Puppet Master behind it all???
+==================================================================================================================
+
+| Author      | Source | 
+|  :----:     |    :----:   |        
+| [u/BadassTrader](https://www.reddit.com/user/BadassTrader/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nzkzi5/is_this_the_final_boss_john_petry_and_ken_griffin/) |
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+(Shameless PLUG: Follow me on Twtter for more GME fun: <https://twitter.com/BadassTrader69> )
+
+NAVIGATION:
+
+[BBC Part 1](https://www.reddit.com/r/Superstonk/comments/nzkzi5/is_this_the_final_boss_john_petry_and_ken_griffin/)
+
+[BBC Part 2](https://www.reddit.com/r/Superstonk/comments/nzrtsq/billionaires_boys_club_part_2_the_inner_circle/)
+
+[BBC Part 3](https://www.reddit.com/r/Superstonk/comments/nzxjra/billionaires_boys_club_part_3_the_big_boys_i_just/)
+
+[BBC Part 4](https://www.reddit.com/r/Superstonk/comments/o0isaz/billionaire_boys_club_bbc_part_4_recess_is_over/)
+
+[BBC Part 5](https://www.reddit.com/r/Superstonk/comments/o16cbm/billionaires_boys_club_part_5_the_foundational/)
+
+So I spent this morning's pre-market browsing some 13Fs, (This is the way) and I came across a little-known hedge fund called Sessa Capital.
+
+What stood out to me about this hedge fund, was their huge overweight position of 1.8 million GME puts. (Correction 1.8 million shares of GME Puts estimated at $351 million value)
+
+This is now the fund's biggest position, accounts for 13.5% of their portfolio, and get this... they had not traded Gamestop prior to Q1 2021.
+
+So I thought to myself... what could have possibly INSPIRED this fund to go all in on a Gamestop short after the Jan mini-squeeze. Isn't that a bit of a suicide mission? Especially for a fund with such a good track record...
+
+...AND they have not even hedged this position...
+
+So I looked into the fund a little and found it is run by a guy named John Petry.
+
+My immediate thought was... I bet he's connected to Shitadel somehow.
+
+I looked him up on Linkedin... not a past employee.
+
+I checked his Fund's New York Address expecting it to be in the same building as Kenny.
+
+It's not...
+
+But it's not far:
+
+[![r/Superstonk - IS THIS THE FINAL BOSS? John Petry and Ken Griffin Billionaires Boys Club - And the Puppet Master behind it all???](https://preview.redd.it/m42d7mvqs7571.png?width=2556&format=png&auto=webp&s=7de380cddfe0397e50cff8667a8ddea56041e5b0)](https://preview.redd.it/m42d7mvqs7571.png?width=2556&format=png&auto=webp&s=7de380cddfe0397e50cff8667a8ddea56041e5b0)
+
+And even closer to Kenny's gaff
+
+[![r/Superstonk - IS THIS THE FINAL BOSS? John Petry and Ken Griffin Billionaires Boys Club - And the Puppet Master behind it all???](https://preview.redd.it/7wpgbmq0t7571.png?width=2555&format=png&auto=webp&s=c940633bb3865cfb7e5da6c64797ecc1337feac7)](https://preview.redd.it/7wpgbmq0t7571.png?width=2555&format=png&auto=webp&s=c940633bb3865cfb7e5da6c64797ecc1337feac7)
+
+(Could easily pop around for a cup of tea)
+
+But realistically... proximity in New York means nothing.
+
+So...
+
+I decided to dig a little deeper.
+
+I discovered that John Petry is on the Board of a company called "Success Academy", which is a New York City Charter School Network. (Part of the "Billionaire's Boys Club" which is described as a crew of hedge fund managers and philanthropists who are the angels behind private management charters)
+
+- Reference: <https://preaprez.wordpress.com/tag/education-reform-now/>
+
+John Petry got on the board by being one of these early Angel Investors in the Carter School. And give a guess who's name is right there along side his?
+
+Yup...
+
+Mr Kenny "Give me my Tendies" Griffin was also an Angel Investor of $10 million in this charter school.
+
+Reference: <https://www.philanthropyroundtable.org/philanthropy-magazine/article/the-school-success-sequence>
+
+These guys even play Poker together!
+
+Reference: <https://www.cdcgamingreports.com/scene-last-night-einhorn-hellmuth-sabat-cornwell-weinstein/>
+
+So let's Dig a little deeper...
+
+Reference my Previous Post about Junk Bonds that I couldn't really piece together: <https://www.reddit.com/r/Superstonk/comments/nyt6l8/wrinkle_brains_needed_citadel_loading_up_on_high/>
+
+And a better write up from commenter [u/Get-It-Got](https://www.reddit.com/u/Get-It-Got/) here:
+
+<https://www.reddit.com/r/Superstonk/comments/ns7k6q/could_gamestops_liftoff_unravel_corporate_junk/?utm_source=share&utm_medium=web2x&context=3>
+
+So when I was reading up on our new friend (And Kenny's old friend), John Petry, something that stud out to me was this:
+
+*" Petry's Gotham Capital LLC, founded in 1985 with $7 million from junk-bond king Michael Milken "*
+
+Junk Bonds again...
+
+And who was this Junk Bond King, Michael Milken... and how is he connected to all this...
+
+AND OF COURSE... IT'S THIS GUY:
+
+Milken and Griffin Conversation 1:
+
+<https://www.youtube.com/watch?v=vFeKmMBky40>
+
+Milken and Griffin Conversation 2:
+
+<https://www.youtube.com/watch?v=2iDDDRfZ0I0&ab_channel=CitadelCitadel>
+
+Kenny Talking at the Milken Institute again
+
+<https://www.youtube.com/watch?v=4IDyyq5Hh2k&ab_channel=MilkenInstituteMilkenInstitute>
+
+And I'm sure there's a bunch more out there...
+
+So who the fuck is Michael Milken?
+
+[![r/Superstonk - IS THIS THE FINAL BOSS? John Petry and Ken Griffin Billionaires Boys Club - And the Puppet Master behind it all???](https://preview.redd.it/nxqeipdhx7571.png?width=220&format=png&auto=webp&s=57747b773d9ddad4538ffd495201ec970f3f4d96)](https://preview.redd.it/nxqeipdhx7571.png?width=220&format=png&auto=webp&s=57747b773d9ddad4538ffd495201ec970f3f4d96)
+
+Michael Robert Milken (born July 4, 1946) is an American formerly convicted felon, financier and philanthropist. He is noted for his role in the development of the market for high-yield bonds ("junk bonds"),[3] and his conviction and sentence following a guilty plea on felony charges for violating U.S. securities laws.[4] Since his release from prison, he has also become known for his charitable giving.[5][6] Milken was pardoned by President Donald Trump on February 18, 2020.
+
+Milken was indicted for racketeering and securities fraud in 1989 in an insider trading investigation. As the result of a plea bargain, he pleaded guilty to securities and reporting violations but not to racketeering or insider trading. Milken was sentenced to ten years in prison, fined $600 million, and permanently barred from the securities industry by the Securities and Exchange Commission. His sentence was later reduced to two years for cooperating with testimony against his former colleagues and for good behavior.[7] Since his release from prison, Milken has funded medical research.[8]
+
+------------------------------------------------------------------------------------------------------------------------------------------------
+
+So the guy who INVENTED the Junk Bond market, gets banned from ever trading again... and then all of a sudden becomes best buddies with Kenny G... who trades extensively in Junk Bonds?
+
+And... the same guy funds the company prior to John Petry's current Fund, and the current fund decides to Yolo into GME shorts AFTER Jan mini squeeze.
+
+And just in case you are thinking this guy would be too afraid to break a lifetime ban?
+
+*In February 2013, the SEC announced that they were investigating whether Milken violated his lifetime ban from the securities industry. The investigation revolved around Milken allegedly providing investment advice through Guggenheim Partners.[42]*
+
+*Since 2011, the SEC has been investigating Guggenheim's relationship with Milken.[43]*
+
+----------------------------------------------------------------------------------------------------------------------------------------------
+
+These guys are all fucking connected!
+
+But of Course... this is just my opinion and I can't prove anything... nor am I a financial advisor.
+
+Edit 1: Sessa Puts Source
+
+Sorry Apes, I don't trade options so my terminology was off. It's 1.8 million shares of GME Puts valued at $351 million. Not 1.8 million puts
+
+Source: <https://whalewisdom.com/filer/sessa-capital-im-lp#tabholdings_tab_link>
+
+Edit 2: Part 2 is on the way...
+
+EDIT 3: Part 2: <https://www.reddit.com/r/Superstonk/comments/nzrtsq/billionaires_boys_club_part_2_the_inner_circle/>
+
+Edit 4: BBC Part 3: <https://www.reddit.com/r/Superstonk/comments/nzxjra/billionaires_boys_club_part_3_the_big_boys_i_just/>
+
+BIG FUCKING EDIT: ALL MARKET VALUES ARE AS PER 31ST MARCH 13F FILING DATES

01-Must-Read/Billionaire-Boys-Club-by-BadassTrader/2021-06-14-Billionaire-Boys-Club-Part-II.md

@@ -0,0 +1,326 @@
+Billionaire's Boys Club - Part 2: The Inner Circle
+==================================================
+
+| Author      | Source | 
+|  :----:     |    :----:   |        
+| [u/BadassTrader](https://www.reddit.com/user/BadassTrader/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nzrtsq/billionaires_boys_club_part_2_the_inner_circle/) |
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+(Shameless PLUG: Follow me on Twtter for more GME fun: <https://twitter.com/BadassTrader69> )
+
+NAVIGATION:
+
+[BBC Part 1](https://www.reddit.com/r/Superstonk/comments/nzkzi5/is_this_the_final_boss_john_petry_and_ken_griffin/)
+
+[BBC Part 2](https://www.reddit.com/r/Superstonk/comments/nzrtsq/billionaires_boys_club_part_2_the_inner_circle/)
+
+[BBC Part 3](https://www.reddit.com/r/Superstonk/comments/nzxjra/billionaires_boys_club_part_3_the_big_boys_i_just/)
+
+[BBC Part 4](https://www.reddit.com/r/Superstonk/comments/o0isaz/billionaire_boys_club_bbc_part_4_recess_is_over/)
+
+[BBC Part 5](https://www.reddit.com/r/Superstonk/comments/o16cbm/billionaires_boys_club_part_5_the_foundational/)
+
+Ok, you apes got me all riled up now after the positive reaction to my last post ([Ref Boys Club Part 1](https://www.reddit.com/r/Superstonk/comments/nzkzi5/is_this_the_final_boss_john_petry_and_ken_griffin/)) so I've decided to keep digging.
+
+Let's start with Our New Super Villian Michael "Milky" Milken:
+
+[![r/Superstonk - Billionaire's Boys Club - Part 2: The Inner Circle](https://preview.redd.it/7li64nzrk9571.png?width=220&format=png&auto=webp&s=1bcde810dc36c5dda25784896d52d37d983b9dcb)](https://preview.redd.it/7li64nzrk9571.png?width=220&format=png&auto=webp&s=1bcde810dc36c5dda25784896d52d37d983b9dcb)
+
+Disclaimer: I'm Irish and have no real interest in American pol itics, so I know once I mention this shit's gonna get political, but lets try and not...
+
+We're all Apes, we're all here for the Stonk... not for Poli tics.
+
+So... TR UMP pardoned this guy on 18th Feb 2020.
+
+What struck me about this, was that he had 33 people lobbying Tr ump to get his Pardon. ([Ref New York Times](https://www.nytimes.com/2020/03/01/business/michael-milken-trump-pardon.html))
+
+Now, when you click on the link to get the White Houses statement on who these 33 people are, it brings up a 404 error... The statement no longer exists!
+
+But luckily, this Ape has heard of the way back machine!
+
+So using the way back machine, we can get the 33 names. ([Ref Wayback Machine](https://web.archive.org/web/20200313203638/https://www.whitehouse.gov/briefings-statements/statement-press-secretary-regarding-executive-grants-clemency-2/))
+
+-   Dr. Miriam Adelson - Married to Sheldon Adelson
+
+-   Sheldon Adelson - Tru mps Largest Donor, Casino Tycoon, 28th Richest Person in the world
+
+-   David Bahnsen - Founder of the Bahnsen Group - Private Wealth Management Firm
+
+-   Tom Barrack - Founder of REIT company Colony Capital
+
+-   Maria Bartiromo - Fox News Financial Journalist
+
+-   Ron Burkle - Founder of The Yucaipa Companies LLC a Private Investment Firm
+
+-   Secretary of Transportation Elaine Chao - Politician
+
+-   William Ford - Seriously? Yes, this is the executive chairman of Ford Motors
+
+-   Josh Friedman - Screenwriter. Wrote the Terminator Movies. Confirmed Simulation.
+
+-   Rudy Guiliani - Think we all know Rudy
+
+-   Josh Harris - Founder of Apollo Global Management - Investment Firm
+
+-   Rabbi Marvin Hier - Founder of the Simon Wiesenthal Center
+
+-   Ray Irani - CEO of Occidental Petroleum
+
+-   Robert Kraft - CEO of The Kraft Company
+
+-   Richard LeFrak - CEO of LeFrak - One of the biggest landlords in New York
+
+-   Randy Levine - President of the New York Yankees
+
+-   Howard Lorber - CEO of Vector Group Ltd - A holding Company
+
+-   Representative Kevin McCarthy - Congressman
+
+-   Larry Mizel - EC of MDC Holdings (+ Chairman of Simon Wiesenthal Center???)
+
+-   Arte Moreno - Owner of Anaheim Angels
+
+-   Rupert Murdoch - Again... Seriously?
+
+-   Sean Parker - WTF?
+
+-   John Paulson - Oooh Hedgie #1 - Founded Paulson & Co.
+
+-   Nelson Peltz - Founder of Trian Fund Management - Investment Firm
+
+-   Steven Roth - Founder of Vornado Realty Trust - The Largest New York Landlord
+
+-   David Rubenstein - Yup. CEO of The Carlyle Group
+
+-   Larry Ruvo - VP of Southern Wine and Spirits of Nevada
+
+-   Marc Stern - Chairman of the TCW Group - Asset Management Financial Institution.
+
+-   Steven Tananbaum - Hedgie #2 - Founder of GoldenTree Asset Management
+
+-   Ted Virtue - CEO of MidOcean (Prior CEO of DB Capital Partners with Oversight of Deutsche Bank)
+
+-   Andrew von Eschenbach - FDA Commissioner
+
+-   Mark Weinberger - CEO of EY (Board of Directors at Metlife)
+
+-   Gary Winnick - Founder of Global Crossing
+
+So fuck me Apes...
+
+This guy has some friend list willing to go to bat for him right?
+
+Can't even count the amount of Billionaires up there and this is just the list of people issued in the official Whitehouse statement (That mysteriously no longer exists)
+
+So... on with the connections.
+
+Let's cross-reference our hedgies with our favorite stonk.
+
+John Paulson Hedgie #1 - Does not have a position in GME according to latest 13F.
+
+Neither does Hedgie #2, though he does have a small up of a million shares on AMC
+
+How about our investment firms?
+
+Josh Harris at Apollo Global Management decided in Q1 of 2021 that he would trade GME for the first time with a small put position of 150,000 Shares. ([Ref Holdings](https://whalewisdom.com/filer/apollo-management-holdings-l-p#tabholdings_tab_link)) - Similar Timing to Sessa Maybe?
+
+But other than that... not a whole load more to report.
+
+How about connections to Kenny Himself?
+
+Well there's a SHITLOAD of that...
+
+Here's just 1 article, referencing 6 of our 33 hitlist in addition to Kenny himself referencing donations to the Repu blican party. (Again... I'll try keep po litics out of this, but this is establishing connections)
+
+[Reference Forbes Article](https://www.forbes.com/sites/windriver/2021/05/07/open-source-brings-collective-creativity-to-the-intelligent-edge/?sh=7f6db7ab321a)
+
+(Can you spot all 6?)
+
+I'm not going to go through ALL of it as there is WAY too much, but it's safe to say... there are a lot of connections
+
+But here are a few examples to wet your confirmation bias...
+
+[Elaine Chao and Kenny hanging out at a Milken event with "The worlds most powerful thinkers"](https://www.reuters.com/article/cbusiness-us-milken-conference-trump-idCAKBN17Y26U-OCABS)
+
+[Kenny, David Rubenstein, Mark Weinberger, Steven Tananbaum all hanging out at the Milken Global Conference in 2017](https://milkeninstitute.org/events/global-conference-2017/speakers)
+
+[Kenny buys Rupert Murdochs ex Wife's House](https://www.chicagobusiness.com/residential-real-estate/what-will-billionaire-ken-griffin-build-his-huge-palm-beach-estate)
+
+(Can't make this shit up)
+
++ This Milken Institute seems to be central for a lot of these guys...
+
+ANYWAY....
+
+----------------------------------------------------------------------------------------------------------------------------------------------
+
+On to the shit we care about.
+
+We've established that there's a Billionaires Boys Club and Kenny is Part of it.
+
+So let's take the Sessa and Apollo pattern and see if we can expand on it.
+
+What are we looking for?
+
+Companies that own Puts, that first reported ownership in Q1 2021 and that have not hedged.
+
+This gives us this list:
+
+Taconic Capital Advisors: 537,900 shares valued at $102 million
+
+Hound Partners LLC: 241,500 shares valued at $45.8 million
+
+CMT Capital Markets Trading: 241,500 shares valued at $45.8 million (Sounds familiar)
+
+Millennium Management LLC: 163,400 shares valued at $31 million
+
+Apollo Management Holdings: 150,000 shares valued at $28.5 million (We know who this is)
+
+CSS LLC: 71,000 Shares valued at $13.5 million
+
+Jefferies Group LLC: 48,000 shares valued at $9 million (Jefferies? WTF)
+
+Ionic Capital Management: 20,600 shares valued at $4million
+
+There's more... but that's enough for now.
+
+---------------------------------------------------------------------------------------------------------------------------------
+
+The second biggest NEW put position is Taconic Capital
+
+Founder of Taconic, is Frank Brosens.
+
+Frank Brosens was invited to speak at the Invest for Kids Event in Chicago...
+
+As was Kenny
+
+As was Milken
+
+Reference: [Invest for Kids Event Speakers list](https://investforkidschicago.org/past-speakers/)
+
+---------------------------------------------------------------------------------------------------------------------------------
+
+3rd biggest NEW position without a hedge falls to Hound Partners
+
+Couldn't dig up a lot here except this suspiciously convenient article about Kenny having a CURIOUSLY passive stake in TiVo along with Hound Partners, both in a stock that is "Not exactly widely followed"
+
+<https://www.institutionalinvestor.com/article/b150y1tj6mwz2w/citadels-curiously-passive-stake-in-tivo>
+
+On the OTHER HAND...
+
+(This shit gets crazy)
+
+Hound Partners was funded by a company called Tiger Management.
+
+Tiger Management was founded by Julian Robertson
+
+And... I really can't believe I am saying this but...
+
+Kenny's Ex-wife, Anne Dias, Managed Money for both Kenny and Julian Robertson!!!!
+
+WTF... THE ACTUAL FUCK
+
+Reference: <https://www.wsj.com/articles/female-hedge-fund-veteran-has-contemplated-a-comeback-11559122201>
+
+I don't subscribe to WSJ, so only reading the headline... LMFAO
+
+---------------------------------------------------------------------------------------------------------------------------------
+
+Next up to get knocked down...
+
+Millenium Management Company Run by Israel Englander
+
+Again... a suspiciously convenient example of Citadel and Millennium working in parallel with each other dumping FireEye Shares.
+
+Reference (Warning... this is a motley fool article. Proceed with Skeptisism. [Link)](https://www.fool.com/investing/2016/05/26/these-billionaires-just-dumped-more-than-1-million.aspx)
+
+And yet again... Milken Global Conference 2010 with Milken, Kenny and Englander
+
+<https://milkeninstitute.org/article/2010-milken-institute-global-conference-brings-world-leaders-los-angeles-foster-ideas>
+
+---------------------------------------------------------------------------------------------------------------------------------
+
+Apollo we already discussed.
+
+But another cross-referencing showed up this article that has Marc Rowan (Apollo Founder), Kenny AND Julian Robertson all donating to Mitt Romney
+
+<https://www.forbes.com/sites/briansolomon/2012/02/01/billionaires-private-equity-ceos-give-big-to-romney-super-pac/?sh=5a6b52443568>
+
+And more form the Apollo leadership team heading out to hang out with Milken and Kenny in 2015: <https://www.cnbc.com/2015/04/24/milken-time-wall-street-jets-west-for-davos-with-palm-trees.html>
+
+---------------------------------------------------------------------------------------------------------------------------------
+
+CSS LLC was a much tougher nut to crack.
+
+Smaller company. Smaller position.
+
+Finra does have a check on them though ([Ref: LINK](https://brokercheck.finra.org/firm/summary/45980))
+
+And it shows a single Director: Peter Anthony Ianello
+
+After doing some solid Googling, it turns out he goes by Peter Ianello and is actually the founder of a different company... OCA Ventures.
+
+I searched them for a 13F, but doesn't exist. (Ref: <https://whalewisdom.com/filer/oca-ventures-llc>)
+
+But they are out of Chicago and both Kenny and Peter made it to the Chicago 100 list:
+
+<http://tullman.blogspot.com/2014/06/who-made-list-techweek-chicago-reveals.html>
+
+A cross-reference with Milken shows that both guys are listed as business speakers for events... but that's meh...
+
+That's all I could get for this one... but I am even more suspicious of these smaller funds.
+
+----------------------------------------------------------------------------------------------------------------------------------
+
+Ionic Capital Management was a hard nut too
+
+Founders were not listed in Linkedin, but I found [an article](https://www.globalvolatilitysummit.com/sponsor/ionic/) listing 3 Co-Founders for the company:
+
+Bart Baum
+
+Adam Radosti
+
+Daniel Stone
+
+YET AGAIN... another article talking about Kenny and one of these companies making unusual plays.
+
+Here they talk about Citadel And Ionic (Specifically just these 2) being bullish on a company called Verb. -- ONLY 4 hedge funds in total were trading this company!!!
+
+Ken created the largest position and Ionic had the highest weighting.
+
+And weirdly... in the article... it says both companies had $0 million as their position. lol. WTF.
+
+Reference: <https://newsfortomorrow.com/index.php/2019/12/22/hedge-funds-have-never-been-this-bullish-on-verb-technology-company-inc-verb/>
+
+And here... Millenium, Citadel and Ionic all mentioned in a poorly timed position in LATAM Airlines
+
+<https://www.insidermonkey.com/blog/these-hedge-funds-couldnt-pick-a-worse-time-to-buy-latam-airlines-group-ltm-823467/>
+
+Another unusual trade in NASDAQ:AVCT mentioning Citadel, Ionic and Millenium...
+
+<https://www.insidermonkey.com/blog/these-hedge-funds-couldnt-pick-a-worse-time-to-buy-latam-airlines-group-ltm-823467/>
+
+Another unusual trade for NASDAQ:GSMG mentioning Citadel, Ionic and Millenium...
+
+<https://topnasdaq.com/is-gsmg-a-good-stock-to-buy-now/>
+
+This list goes on... but I think you get the picture...
+
+Been writing and researching this for a good few hours now, so I hope you find some entertainment in it.
+
+I think the point is clear... and something we all knew all along.
+
+There is 100% a Billionaire's Boys Club... but it's still fun to connect some of the dots!
+
+Feel Free to add me on Twitter:
+
+<https://twitter.com/PaulAllenTweet>
+
+EDIT: Part 3 on the way... Let's get a little more solid in the connections this time.
+
+EDIT: Part 3: <https://www.reddit.com/r/Superstonk/comments/nzxjra/billionaires_boys_club_part_3_the_big_boys_i_just/>
+
+BIG FUCKING EDIT: ALL MARKET VALUES ARE AS PER 31ST MARCH 13F FILING DATES

01-Must-Read/Billionaire-Boys-Club-by-BadassTrader/2021-06-14-Billionaire-Boys-Club-Part-III.md

@@ -0,0 +1,160 @@
+Billionaire's Boys Club Part 3 - THE BIG BOYS - (I just realised... Billionaires Boys Club... BBC)
+==================================================================================================
+
+| Author      | Source | 
+|  :----:     |    :----:   |        
+| [u/BadassTrader](https://www.reddit.com/user/BadassTrader/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nzxjra/billionaires_boys_club_part_3_the_big_boys_i_just/) |
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+Ok... time to get serious.
+
+Who's getting heavy into Short Positions besides Citadel?
+
+(Shameless PLUG: Follow me on Twtter for more GME fun: <https://twitter.com/BadassTrader69> )
+
+NAVIGATION:
+
+[BBC Part 1](https://www.reddit.com/r/Superstonk/comments/nzkzi5/is_this_the_final_boss_john_petry_and_ken_griffin/)
+
+[BBC Part 2](https://www.reddit.com/r/Superstonk/comments/nzrtsq/billionaires_boys_club_part_2_the_inner_circle/)
+
+[BBC Part 3](https://www.reddit.com/r/Superstonk/comments/nzxjra/billionaires_boys_club_part_3_the_big_boys_i_just/)
+
+[BBC Part 4](https://www.reddit.com/r/Superstonk/comments/o0isaz/billionaire_boys_club_bbc_part_4_recess_is_over/)
+
+[BBC Part 5](https://www.reddit.com/r/Superstonk/comments/o16cbm/billionaires_boys_club_part_5_the_foundational/)
+
+WHO'S ALL IN?
+
+RC Ventures LLC - Good to know the boss is all in! - 9,001,000 Shares - Valued at $159 mil 12.87% Ownership
+
+Hestia Capital Partners LP - This is an interesting little company. 4,726,606 Shares - Valued $89 million - 6.75% ownership
+
+Founded and run by Kurt Wolf, who was a previous Gamestop Board Member.
+
+His Focus on Deep Value Investing:
+
+The firm focuses on identifying misunderstood companies that are typically generating significant free cash flow. Through intense research, focused on understanding the competitive dynamics of the industry and their impact on the company's prospects, we believe we are able to successfully pick those companies which are simply misunderstood versus truly broken.
+
+Love it!
+
+-------------------------------------------------------------------------------------------------------------------------------------
+
+We already spoke about the Sessa YOLO, but not to worry... we'll circle back on these puppets.
+
+-------------------------------------------------------------------------------------------------------------------------------------
+
+Another big mover...
+
+Prelude Capital Management 1.2 million shares of GME PUTS valued at $242 million representing 6% of their portfolio and their 3rd largest position.
+
+Co-Founded by [Gavin Saitowitz](https://www.linkedin.com/in/gavin-saitowitz-298289/) and [Cisco Del Valle](https://www.linkedin.com/in/ciscojdelvalle/)
+
+[![r/Superstonk - Billionaire's Boys Club Part 3 - THE BIG BOYS - (I just realised... Billionaires Boys Club... BBC)](https://preview.redd.it/9dya73jada571.png?width=200&format=png&auto=webp&s=afc114419970fc96f18d14900e095f46111c30fc)](https://preview.redd.it/9dya73jada571.png?width=200&format=png&auto=webp&s=afc114419970fc96f18d14900e095f46111c30fc)
+
+Gavin
+
+[![r/Superstonk - Billionaire's Boys Club Part 3 - THE BIG BOYS - (I just realised... Billionaires Boys Club... BBC)](https://preview.redd.it/i7la1cicda571.png?width=200&format=png&auto=webp&s=faabce23b7ab45c2b6361d139d82925ec88be7ea)](https://preview.redd.it/i7la1cicda571.png?width=200&format=png&auto=webp&s=faabce23b7ab45c2b6361d139d82925ec88be7ea)
+
+Cisco
+
+So these guys have owned GME previously, but since their last 13F, have increased that position by 1,264,700 shares of PUTS.
+
+Meaning... that's more than a 10,000% increase in their position.
+
+Remember my first DD that started me down this rabbit hole?
+
+[(Check it out here if not)](https://www.reddit.com/r/Superstonk/comments/nyt6l8/wrinkle_brains_needed_citadel_loading_up_on_high/)
+
+But that was focused on the junk bonds and particularly $HYG
+
+Well give a guess who else is HEAVY on $HYG PUTS?
+
+Yup... Our boys at Prelude.
+
+Reference: <https://whalewisdom.com/filer/springbok-capital-management-llc#tabholdings_tab_link>
+
+They own 531,000 shares of PUTS in this junk bond worth $46 million and making up 1.19% of their portfolio after increasing their position by 151%.
+
+ADDITIONALLY...
+
+They own 450,865 shares of the stock itself.
+
+Now you may think this is just a hedge, but they added 419,906 of these shares since their last filing. (An increase of 1,356%)
+
+So what's interesting about this???
+
+Well the top position in these guys portfolio is SPY (PUTS) - 863,100 shares valued at $342,072,000
+
+And... in at 7th position they have QQQ (PUT) at 173,100 shares valued at $55.5 million
+
+So they're betting that the market is going to crash and they are jumping into GME and HYG Puts.
+
+(Funnily enough, Citdel's largest position is also SPY (PUTS) at 6.2% of their portfolio with 63.8million shares valued at $25 Billion)
+
+Both Companies have hedged against this, but both companies are betting the market is going down and are jumping to bonds.
+
+So we all know Citadel's relationship with GME, but why if this company knows EVERYTHING that Citadel seems to know, would they increase their PUTS on GME by 10,000%? UNLESS... they are helping?
+
+------------------------------------------------------------------------------------------------------------------------------------------------
+
+And this HYG seems to be the lifeboat Apes. Look at the increase of the BIG BOYS jumping on HYG PUTS:
+
+[![r/Superstonk - Billionaire's Boys Club Part 3 - THE BIG BOYS - (I just realised... Billionaires Boys Club... BBC)](https://preview.redd.it/qwsqqd21ga571.png?width=1721&format=png&auto=webp&s=5e00c355a48f96e2c6ef4ae1e8f16779b3686926)](https://preview.redd.it/qwsqqd21ga571.png?width=1721&format=png&auto=webp&s=5e00c355a48f96e2c6ef4ae1e8f16779b3686926)
+
+(See Taconic in there right at the end too?)
+
+Jane Street has HYG in their top 10 after increasing the PUTS by 150%!
+
+(Interestingly Jane Street are decreasing their SPY PUTS and Increasing their SPY CALLS)
+
+- But lets get back on topic.
+
+-------------------------------------------------------------------------------------------------------------------------------
+
+Who else is jumping on the HYG Bandwagon?
+
+How about Ares Management? A Brand New Position with 2 million shares valued at $174 million and their 4th largest position?
+
+Ref: <https://whalewisdom.com/filer/ares-management-llc#tabholdings_tab_link>
+
+How about Jefferies Group? 1,342,700 HYG (PUTS) valued at $117 million and their 13th largest position. (They also have their top position in SPY(PUTS) - 2,435,608 million shares valued at $965 million. And QQQ(PUT) at 2.3 million shares valued at $759 million.
+
+Ref: <https://whalewisdom.com/filer/jefferies-group-inc-de#tabholdings_tab_link>
+
+How about GoldenTree Assets? Buying the underlying stock this time, and actually decreasing it's position but still at 1,150,000 shares valued at $100 million and their 6th largest position. (You may remember these guys from Billionaires Boys Club Part 2, who also have a large PUT position in AMC)
+
+Ref: <https://whalewisdom.com/filer/goldentree-asset-management-lp#tabholdings_tab_link>
+
+How about Blackstone Group? Brand new position opened up (Late to the party) HYG (PUT) 100,000 shares at $8.7 million value. These guys also have SPY (PUT) at 9,084,800 valued at $3.8 Billion as their 4th largest position. +QQQ Puts at $2.1 Billion at 5th position
+
+Ref: <https://whalewisdom.com/filer/blackstone-group-l-p#tabholdings_tab_link>
+
+All of these companies seem to be making SIMILAR moves. Not identical by any means, and I'm sure there are lots of differences.
+
+But the moves also similar to Citadels Moves.
+
+I mean FFS... They are ALL saying the market is about to CRASH! Including Citadel!
+
+And are we READY FOR THE BOMB DROP?
+
+What do all of these companies have in Common?
+
+They are ALL run by Drexel Burnham Lambert Alumni!!
+
+Yup... He's at the center of it again!
+
+Reference: <https://www.cnbc.com/2015/02/13/where-are-they-now-the-drexel-alumni-25-years-later.html>
+
+[![r/Superstonk - Billionaire's Boys Club Part 3 - THE BIG BOYS - (I just realised... Billionaires Boys Club... BBC)](https://preview.redd.it/hmu5jjnhta571.png?width=1080&format=png&auto=webp&s=e0ca2e7d8d5dc97dd4a4e12758ad79725a67f065)](https://preview.redd.it/hmu5jjnhta571.png?width=1080&format=png&auto=webp&s=e0ca2e7d8d5dc97dd4a4e12758ad79725a67f065)
+
+I'm not done yet... Just done for today
+
+BBC Volume 4 will be out tomorrow if you guys are still interested in this shit?
+
+BIG FUCKING EDIT: The Source Date for RC Ventures is Jan 10th and Hestia Capital for 12th June 2020. ALL OTHER MARKET VALUES ARE AS OF 31ST MARCH...
+
+Part 4: <https://www.reddit.com/r/Superstonk/comments/o0isaz/billionaire_boys_club_bbc_part_4_recess_is_over/>

01-Must-Read/Billionaire-Boys-Club-by-BadassTrader/2021-06-15-Billionaire-Boys-Club-Part-IV.md

@@ -0,0 +1,345 @@
+Billionaire Boys Club (BBC) Part 4 - Recess is over... You didn't think BILL GATES was involved did you?
+========================================================================================================
+
+| Author      | Source | 
+|  :----:     |    :----:   |        
+| [u/BadassTrader](https://www.reddit.com/user/BadassTrader/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/o0isaz/billionaire_boys_club_bbc_part_4_recess_is_over/) |
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+(THIS IS GME RELATED)
+
+(Shameless PLUG: Follow me on Twtter for more GME fun: <https://twitter.com/BadassTrader69> )
+
+NAVIGATION:
+
+[BBC Part 1](https://www.reddit.com/r/Superstonk/comments/nzkzi5/is_this_the_final_boss_john_petry_and_ken_griffin/)
+
+[BBC Part 2](https://www.reddit.com/r/Superstonk/comments/nzrtsq/billionaires_boys_club_part_2_the_inner_circle/)
+
+[BBC Part 3](https://www.reddit.com/r/Superstonk/comments/nzxjra/billionaires_boys_club_part_3_the_big_boys_i_just/)
+
+[BBC Part 4](https://www.reddit.com/r/Superstonk/comments/o0isaz/billionaire_boys_club_bbc_part_4_recess_is_over/)
+
+[BBC Part 5](https://www.reddit.com/r/Superstonk/comments/o16cbm/billionaires_boys_club_part_5_the_foundational/)
+
+DISCLAIMER: I had to dig deep on this one Apes. Some of the information in this Volume of BBC comes through unverified sources. I have used source links where possible, but the sources referenced may have their own Agenda in what they are saying that I can't account for. In saying that... They are mainly referenced to detail my journey, which leads to verified credible sources.
+
+ALSO... I am not actually going to claim that anyone did anything, merely just connect some dots and let you form your own opinion.
+
+ALSO... This is not financial advice, I am not financially qualified, and full disclosure I am a $GME shareholder.
+
+ALSO... this post is an introductory post to BBC part 5. I'm working on more connections to $GME, and this is part of that.
+
+Now that that's out of the way...
+
+Let's dive in. Shits getting Dark Apes. (But no surprises there)
+
+So we all know that Billionaires love to count themselves as Philatropists right?
+
+This is the ONE thing, nearly all of them have in common.
+
+So since I was looking for connections between all these guys for the BBC, I decided to look at what they all had in common.
+
+---------------------------------------------------------------------------------------------------------------------------------------
+
+I'm not American, so I am not up to date on the School System, but as I'm sure many of you are, I'm guessing you know a little about Charter Schools?
+
+But again... I'll try to stay out of Pol itics, though a lot of this will hover around the subject.
+
+So on looking into these Billionaires and their Philanthropy... I discovered that ALOT of them were keenly interested in Charter Schools.
+
+(Don't worry, I will look at the other stuff, but up first is Education)
+
+ANYWAY...
+
+I started down my path for curiosity to see if I could uncover why the Super Rich are so interested in these schools and "Reforming" education.
+
+I'm sure many of you see this as a worthy endeavor. The school system needs reform as it's severely underfunded right?
+
+Let's start with WHY
+
+My first stop into this DARK CAVE was a little Infographic I found on Facebook... Claiming that the High Cost of Oaklands Charter Schools were financially impacting the Public School sector by $57 million net loss...
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 4 - Recess is over... You didn't think BILL GATES was involved did you?](https://preview.redd.it/xf9dzfzj6g571.png?width=1668&format=png&auto=webp&s=ca106768b8448950cf274299aca84de1b89d574f)](https://preview.redd.it/xf9dzfzj6g571.png?width=1668&format=png&auto=webp&s=ca106768b8448950cf274299aca84de1b89d574f)
+
+Source: <https://www.facebook.com/OaklandEA/photos/a.10150107486279627/10156853628859627/?type=3&theater>
+
+Bu this could be explained away and my source can not be verified. So I carried on searching.
+
+NEXT UP
+
+I come across an article discussing Why Billionaires Love Charter Schools
+
+This article goes into detail about the 2 main reasons Billionaires love charters...
+
+TINFOIL HAT TIME
+
+Investing in these schools allows them to 1. Avoid Taxes and 2. Disrupt Unions.
+
+Yup... Anti-Union Conspiracy theory. Maybe it makes sense? I don't know to be honest. (I'll let you make up your own mind)
+
+But Avoiding Taxes...
+
+Now that's a language I can see the Hedgies speaking.
+
+Source: <https://eastbaymajority.com/why-billionaires-love-charter-schools/>
+
+--------------------------------------------------------------------------------------------------------------------
+
+So I continue down further into the Cave...
+
+It's getting Dark now, and my light is Dim.
+
+I find more and more of these types of articles, hypothesizing different reasons behind the love for Charter Schools...
+
+Some of it may have merit... Some of it may be fluff... I'm not expert.
+
+But I continue to follow the MONEY breadcrumbs.
+
+Before I go there though...
+
+I just wanted to reintroduce our Friend "Milky" Milken
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 4 - Recess is over... You didn't think BILL GATES was involved did you?](https://preview.redd.it/yeb9uf078g571.png?width=660&format=png&auto=webp&s=aa4029d7e1c920593ffa63a0e1920976d3e7d5b5)](https://preview.redd.it/yeb9uf078g571.png?width=660&format=png&auto=webp&s=aa4029d7e1c920593ffa63a0e1920976d3e7d5b5)
+
+And another SUPERSTONK favorite...
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 4 - Recess is over... You didn't think BILL GATES was involved did you?](https://preview.redd.it/sqr9lqji8g571.png?width=800&format=png&auto=webp&s=ef764218506532a1dc0f42a2748c3700fd3d4e2c)](https://preview.redd.it/sqr9lqji8g571.png?width=800&format=png&auto=webp&s=ef764218506532a1dc0f42a2748c3700fd3d4e2c)
+
+Yep... Mr Bill gates... NOW... DISCLAIMER... I'm a nerd and love computers and have looked up to old Billy since I was a kid. I honestly respect him until proven otherwise.
+
+But he does come into play here.
+
+I was looking into WHO actually invests in these Charter Schools and I came across this article...
+
+GOT DOUGH? HOW BILLIONAIRES RULE OUR SCHOOLS.
+
+Now this article is in a pretty reputable Magazine, with high domain authority, readership and traffic.
+
+(BUT AGAIN... I have not verified this magazines Agenda)
+
+The article details the ongoing campaigns of Billionaires to pump 100s of millions into these schools.
+
+The 3 BIGGEST of these are:
+
+-   The Bill and Linda Gates Foundation
+
+-   The Broad Foundation
+
+-   The Walton Family Foundation
+
+We will get into this in more detail shortly... BUT... BOMB DROP TIME...
+
+*(A bigger bomb is coming)*
+
+Give a guess who else was listed in this article?
+
+FUCKING MILKEN... They didn't even call him by his full name and listed him in a bunch of other names... so much so that if you were skimming the article and not paying attention... you would have missed it.
+
+*"And they fund the same vehicles to achieve their goals: charter schools, high-stakes standardized testing for students, merit pay for teachers whose students improve their test scores, firing teachers and closing schools when scores don't rise adequately, and longitudinal data collection on the performance of every student and teacher. Other foundations---Ford, Hewlett, Annenberg,* *Milken**, to name just a few---often join in funding one project or another"*
+
+So DOT CONNECTED... we now have a common interest between Milken and Gates.
+
+(The common Interest between Gates and Kenny... is ALOT more substantial)
+
+SOURCE: <https://www.dissentmagazine.org/article/got-dough-how-billionaires-rule-our-schools>
+
+-----------------------------------------------------------------------------------------------------------------------
+
+NOW... LET'S GET INTO HOW INTERESTED THESE GUYS ARE IN CHARTERS
+
+Milken:
+
+Damming Article about Milken and FOR PROFIT Cyber schools from 2013:
+
+<https://www.prwatch.org/news/2013/10/12257/junk-bonds-junk-schools-cyber-schools-fleece-taxpayers-phantom-students-and-faili>
+
+(Early Days, before they worked out the kinks)
+
+Article in Bloomberg (Which I refuse to pay for) stating:
+
+*The children attend Agora Cyber Charter School, managed by K12 (LRN), the largest U.S. operator of taxpayer-funded online schools and part-owned by billionaire Michael Milken.*
+
+And goes to say:
+
+*If it were a school district, it would be one of the largest in America. K12 expects to generate $500 million in revenue this year---it earned a $21.5 million profit last year---and its stock has doubled in value since the company went public in December 2007. The financial success of K12 has shown that Milken---the 1980s junk-bond king, convicted felon (securities fraud), and health-care philanthropist---has figured out how to profit from public schools.*
+
+Hang on 1 second now!
+
+This article is saying that Michael Milken, the 1980's junk-bond king, convicted felon (securities fraud), and health-care philanthropist... HAS FIGURED OUT A WAY TO PROFIT FROM TAX-FUNDED PUBLIC SCHOOLS?
+
+...fuck me...
+
+Again, I'll let you make your own determination on this... but this seems to tie back into all the Tin Foil hat articles I've been reading today...
+
+FUCKIGN SOURCE:
+
+<https://www.bloomberg.com/news/articles/2011-06-02/education-according-to-mike-milken>
+
+------------------------------------------------------------------------------------------------------------------------------------
+
+So let's fucking continue shall we?
+
+In 2006... Kenny and the Bill and Melinda Gates Foundation opened a new charter school in Chicago called Woodlawn High
+
+FUCKING SOURCE: <https://foundationguide.org/philanthropist/kenneth-cordele-griffin/>
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 4 - Recess is over... You didn't think BILL GATES was involved did you?](https://preview.redd.it/qyc8wrdrcg571.png?width=1024&format=png&auto=webp&s=fa966c1ea2389a6e9dcea2734e7ff05d6401d166)](https://preview.redd.it/qyc8wrdrcg571.png?width=1024&format=png&auto=webp&s=fa966c1ea2389a6e9dcea2734e7ff05d6401d166)
+
+Gates Foundation Invests $10 Million in Charter School for Students with Disabilities:
+
+Fucking Source: <https://philanthropynewsdigest.org/news/gates-invests-10-million-in-charters-for-students-with-disabilities>
+
+Kenny and Bill and Melinda Gates Foundation Invest $6 million in Saga Education. (A school that doesn't say they are a Charter School, but who's Board is Filled with Charter School Alumni)
+
+Article Source: <https://www.citadel.com/news/ken-griffin-and-the-bill-and-melinda-gates-foundation-scale-tutoring-program-to-address-persistent-opportunity-gaps-in-major-urban-districts/>
+
+Board Source: <https://www.sagaeducation.org/our-board>
+
+(More than those on this list that associated themselves with Charter schools, actually have a background in Charter Schools)
+
+Gates Foundation Invests a further $22 million into New York and California Charter Schools
+
+Fucking Source: <https://www.gatesfoundation.org/ideas/media-center/press-releases/2003/06/investing-in-highquality-charter-schools>
+
+Gates Foundation Invests $5.7 Million into Charter Schools in Los Angeles
+
+FUCKING SOURCE: <https://www.gatesfoundation.org/ideas/media-center/press-releases/2003/05/aspire-public-schools-receives-grant>
+
+Kenny GIFTS $10 million to charter schools in New York
+
+FUCKING SOURCE <https://www.successacademies.org/press-releases/kenneth-c-griffin-charitable-fund-donates-10m-to-expand-success-academy-middle-schools-across-new-york-city/>
+
+--------------------------------------------------------------------------------------------------------------------------
+
+I think you get the Point Apes Right?
+
+This is NOT an exhaustive list. They are ALL at it. THE LIST GOES ON.
+
+And RIGHT NOW... I am only looking at education.
+
+Not AMIND the fucking donations to political parties (On both sides) that support charter schools.
+
+So WHY are they doing it?
+
+Is it to crush the Unions?
+
+Is it to avoid taxes?
+
+Is it Politics related?
+
+Is it OUT OF THE GOODWILL OF THEIR HEARTS???
+
+Is it a combination of everything?
+
+---------------------------------------------------------------------------------------------------------------------------
+
+At this point in my journey down this dark, never-ending cave of Doom and Eternity!!!
+
+I think back to our friend... MIKEY "MILKY" MILKEN
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 4 - Recess is over... You didn't think BILL GATES was involved did you?](https://preview.redd.it/jnooagsygg571.png?width=695&format=png&auto=webp&s=07845b9c4a74d2aa726667557612213a03996135)](https://preview.redd.it/jnooagsygg571.png?width=695&format=png&auto=webp&s=07845b9c4a74d2aa726667557612213a03996135)
+
+(Image added, because I know you guys love them)
+
+Didn't that 1 article say he FOUND A WAY TO PROFIT FROM PUBLIC SCHOOLS????
+
+(ARE YOU READY FOR THAT BOMB I PROMISED?)
+
+I started digging...
+
+That's when I came across an article in Forbes on THIS VERY TOPIC...
+
+An article with Credible sources, an actual research paper... and what MAY BE THE TRUTH.
+
+(Up to you to decide)
+
+IT IS POSSIBLE TO PROFIT, EVEN FROM A NON-PROFIT, CHARTER SCHOOL
+
+Of course it fucking is...
+
+The rich know how to get richer. That's a language they speak.
+
+And it's even better, when the methods grant you perks, like Tax Haven's and public perception.
+
+WONDERING HOW BILLIONAIRES MAKE MONEY FROM CHARTER SCHOOLS?
+
+This research on [Colorado.edu](https://colorado.edu/), highlights 4 major concerns.
+
+1.  A substantial share of public expenditure intended for the delivery of direct educational services to children is being extracted inadvertently or intentionally for personal or business financial gain, creating substantial inefficiencies;
+
+2.  Public assets are being unnecessarily transferred to private hands, at public expense, risking the future provision of "public" education;
+
+3.  Charter school operators are growing highly endogenous, self-serving private entities built on funds derived from lucrative management fees and rent extraction which further compromise the future provision of "public" education; and
+
+4.  Current disclosure requirements make it unlikely that any related legal violations, ethical concerns, or merely bad policies and practices are not realized until clever investigative reporting, whistleblowers or litigation brings them to light. 
+
+SOURCE: <https://nepc.colorado.edu/publication/charter-revenue>
+
+-- I haven't gone through it all, as it's 56 pages long and I have other fish to fry, but it seems legit. IMO.
+
+The Forbes article is a great read and I recommend everyone do so:
+
+<https://www.forbes.com/sites/petergreene/2018/08/13/how-to-profit-from-your-non-profit-charter-school/?sh=6f7583ac3354>
+
+The sources on here are great rabbit holes too.
+
+The main methods listed here to profit from these schools are Real Estate and Management Companies.
+
+Furthering this is an article in the WALL STREET JOURNAL about Real Estate Businesses investing HEAVILY in Charter schools.
+
+If there were no financial benefits... how would this make sense?
+
+SOURCE: <https://www.wsj.com/articles/charter-school-movement-growsfor-real-estate-investors-1444750383>
+
+And...
+
+Here's another article in the Pittsburgh Post-Gazette talking about how Charter Schools are pulling money from the Public School System and being paid to Charter School Landlords
+
+<https://www.post-gazette.com/news/education/2016/08/03/Charter-school-payments-draw-scrutiny-from-Pennsylvania-auditor-general-Eugene-DePasquale/stories/201608030189>
+
+--------------------------------------------------------------------------------------------------------------------------------
+
+Apes there's tons of this...
+
+SEAS of information about the top 1% pumping money into Charters
+
+This is just the TIP OF THE ICE-BERG
+
+But back to the main focus of this post.
+
+This is further evidence of the Billionaires Boys Club...
+
+What you believe in turns of the reason for this, is completely up to you...
+
+But it is Public Information about how much focus these schools are getting from people at that top and they are all connected in some shape or form...
+
+-------------------------------------------------------------------------------------------------------------------------
+
+If they all collaborate on Philantrapy this much when it's theoretically legal... how close are they communicating about things they are NOT ALLOWED TO?
+
+DISCLAIMER:
+
+Again... this post is just about me researching the reasons behind certain questions and documenting the public information available to me on these topics.
+
+No claims are made against anyone referred to in this article and anyone passing judgment on this is doing so of their own opinion.
+
+-------------------------------------------------------------------------------------------------------------------------
+
+STAY TUNED FOR BILLIONAIRE'S BOYS CLUB PART 5
+
+It's not over...
+
+(Shameless PLUG: Follow me on Twtter for more GME fun: <https://twitter.com/BadassTrader69> )
+
+LET ME KNOW WHAT YOU THINK OF THIS SERIES - YOUR FEEDBACK GOES ALONG WAY!
+
+EDIT 1: Hmmm....
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 4 - Recess is over... You didn't think BILL GATES was involved did you?](https://preview.redd.it/yhkv20gfoh571.png?width=987&format=png&auto=webp&s=e401a06028e9d7170e644f5472f5eea0fdaa4ff9)](https://preview.redd.it/yhkv20gfoh571.png?width=987&format=png&auto=webp&s=e401a06028e9d7170e644f5472f5eea0fdaa4ff9)
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 4 - Recess is over... You didn't think BILL GATES was involved did you?](https://preview.redd.it/bi9g3zqhoh571.png?width=600&format=png&auto=webp&s=58d1f4c8b170bf4958b63e1a4b17b9e265b55823)](https://preview.redd.it/bi9g3zqhoh571.png?width=600&format=png&auto=webp&s=58d1f4c8b170bf4958b63e1a4b17b9e265b55823)
+

01-Must-Read/Billionaire-Boys-Club-by-BadassTrader/2021-06-16-Billionaire-Boys-Club-Part-V.md

@@ -0,0 +1,468 @@
+Billionaire's Boys Club Part 5 - The Foundational Strategy - This shit is getting SCARY Apes!
+=============================================================================================
+
+| Author      | Source | 
+|  :----:     |    :----:   |        
+| [u/BadassTrader](https://www.reddit.com/user/BadassTrader/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/o16cbm/billionaires_boys_club_part_5_the_foundational/) |
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+DISCLAIMER: *I am not a financial advisor, and I do not provide financial advice. Many thoughts here are my opinion, and others can be speculative.*
+
+*Everything I am highlighting here is asking questions about publically available information and not an accusation of any wrongdoing of any parties mentioned.*
+
+Also... I'm not financially trained, so feel free to correct me if I miss something or get something wrong!!
+
+NAVIGATION:
+
+[BBC Part 1](https://www.reddit.com/r/Superstonk/comments/nzkzi5/is_this_the_final_boss_john_petry_and_ken_griffin/)
+
+[BBC Part 2](https://www.reddit.com/r/Superstonk/comments/nzrtsq/billionaires_boys_club_part_2_the_inner_circle/)
+
+[BBC Part 3](https://www.reddit.com/r/Superstonk/comments/nzxjra/billionaires_boys_club_part_3_the_big_boys_i_just/)
+
+[BBC Part 4](https://www.reddit.com/r/Superstonk/comments/o0isaz/billionaire_boys_club_bbc_part_4_recess_is_over/)
+
+[BBC Part 5](https://www.reddit.com/r/Superstonk/comments/o16cbm/billionaires_boys_club_part_5_the_foundational/)
+
+[BBC Part 6](https://www.reddit.com/r/Superstonk/comments/oa8ynd/billionaire_boys_club_bbc_part_6_smile_for_the/)
+
+(THIS IS GME RELATED)
+
+(Shameless PLUG: Follow me on Twitter for more GME fun: <https://twitter.com/BadassTrader69> )
+
+------------------------------------------------------------------------------------------------------------------------------------------------
+
+Ok Apes... Last time we spoke, we talked about Charter Schools and questioned the reason why SO MANY Billionaires we're interested in investing in them.
+
+I'll let you make your own interpretations: [PART 4](https://www.reddit.com/r/Superstonk/comments/o0isaz/billionaire_boys_club_bbc_part_4_recess_is_over/)
+
+This time... we are going to talk about the OTHER thing that Billionaires all love to pump money into...
+
+FOUNDATIONS
+
+Now... don't get me wrong here. I'm sure there are lots of foundations out there that do a lot of good. This is merely an examination of the FUNCTIONALITY of these foundations and why they potentially get so much attention from the super-rich.
+
+Let's start with one we all know...
+
+[![r/Superstonk - Billionaire's Boys Club Part 5 - The Foundational Strategy - This shit is getting SCARY Apes!](https://preview.redd.it/4gktjg5nvm571.png?width=976&format=png&auto=webp&s=533ec0528af455a3b5eeeeb05a7866d1cf365efe)](https://preview.redd.it/4gktjg5nvm571.png?width=976&format=png&auto=webp&s=533ec0528af455a3b5eeeeb05a7866d1cf365efe)
+
+The Bill and Linda Gates Foundation
+
+Now... maybe you already know this, maybe you don't... but Non-Profit Foundations get significant tax breaks from the government... but they still need to report to the IRS through what's called a FORM 990.
+
+So I decided to look at The Bill and Linda Gates Foundations FORM 990.
+
+Specifically, their last filled one which was sent in 2020, for year 2019.
+
+So let's take a look-see...
+
+The Gates Foundation:
+
+Received $3.3 BILLION in Contributions (Makes sense so far)
+
+Earned $826 million from Dividends and Interest from Securities (Wait WHAT?)
+
+The Gates foundation is trading securities?
+
+Am I the only person who didn't know this?
+
+Gross Sales of all assets of $260 BILLION
+
+Net Profit from Sales of Assets of $2 Billion
+
+Capital Gains Net Income $6 Billion
+
+Net Revenue $6.4 Billion
+
+Net Investment Income $7 Billion
+
+And then what are their expense?
+
+THE BIGGEST ONE...
+
+Total contributions paid: $5.8 Billion
+
+Meaning...
+
+Their NET INCOME was just $320 million
+
+But their NET INVESTMENT income is $6.9 BILLION?
+
+So they take money in... invest it... pay it back out... but keep the investment profits?
+
++ They don't have to pay capital gains tax as it's a charitable foundation.
+
++ Total Tax Paid on their investment side was $25.6 Million of $7 Billion in Profits!!
+
++ That's a 0.3% tax rate!
+
+But this COULD be just speculating on high-level numbers right?
+
+NAH...
+
+------------------------------------------------------------------------------------------------------------------
+
+They actually break it down for us...
+
+-   Investments in Government Obligations: $8.9 BILLION
+
+-   Investment in Corporate Stocks: $33.5 BILLION
+
+-   Investment "Other" (WTF?): $5.8 Billion
+
+TOTAL ASSETS $50 BILLION
+
+(That's more than Citadel has AUM)
+
+------------------------------------------------------------------------------------------------------------------
+
+And they ACTUALLY list this...
+
+Net Value of NONCHARITABLE-USE ASSETS for 2019? $47.6 BILLION
+
+So MOST of their assets are not actually for Charitable use???
+
+Fuck me...
+
+------------------------------------------------------------------------------------------------------------------
+
+How much investment has gone into the Gates Foundation?
+
+-   Mr William H Gates? Management Fees $64 million
+
+-   Mr William H Gates? Securities $452 million
+
+-   Mr William H Gates? $55 Million
+
+-   Mr William H Gates and Melinda French Gates? $10.8 million
+
+-   Mr Warren Buffett? $2.7 BILLION
+
+Non-Cash Property Given? Class B Berkshire Hathaway Shares valued at... $2.7 BILLION
+
+So really... Warren just put in $2.7 Billion of Shares as Assets on their books? I wonder why... ?
+
+------------------------------------------------------------------------------------------------------------------
+
+What CONTROLLED ENTITIES have they Contributed to?
+
+-   The Global Good Fund $100 Million
+
+-   GreenBriar Equity Fund $6 Million
+
+(These are the only ones they are obliged to document)
+
+Contributions from CONTROLLED ENTITIES?
+
+-   GreenBriar Equity Fund? $174 million
+
+Hang on... lol. Did they just report that they gave GreenBriar $6 million and GreenBriar gave them back $174 million?
+
+Nice returns.. lol
+
+Lol... I'm not wrinkled brained enough to know what that means really... but lol.
+
+------------------------------------------------------------------------------------------------------------------
+
+I've taken on board the feedback that my last BBC was a little depressing... SO
+
+Here's a puppy Break to cheer you up...
+
+[![r/Superstonk - Billionaire's Boys Club Part 5 - The Foundational Strategy - This shit is getting SCARY Apes!](https://preview.redd.it/z5hxsotuym571.png?width=680&format=png&auto=webp&s=89a0ee3bf65f351ac919e09439c4d39d57524f8c)](https://preview.redd.it/z5hxsotuym571.png?width=680&format=png&auto=webp&s=89a0ee3bf65f351ac919e09439c4d39d57524f8c)
+
+------------------------------------------------------------------------------------------------------------------
+
+They EVEN LIST THE STOCKS that they are invested in...
+
+(Gamestop is not one)
+
+But look who has got $11.3 Billion? Berkshire Hathaway
+
+(Remember Warren only invested $2.7 Billion)
+
+Disclaimer: I fucking love the shit outta Warren Buffett
+
+Other big numbers:
+
+-   $1.5 Billion in Canadian Natl Railway
+
+-   $1.6 Billion in Caterpillar
+
+-   $1.3 Billion in Walmart
+
+-   $2.2 Billion in Waste Management Inc
+
+What do these stocks have in Common? They are NOT Berkshire Hathaway stocks... because that would be WAY to obvious. But LOOK like they are nice safe, solid, FUNDAMENTALLY sound positions. I'll say no more.
+
+They list their Corporate Bonds too, but nothing stood out to me. Feel free to take a comb through
+
+------------------------------------------------------------------------------------------------------------------
+
+INVESTMENTS OTHER
+
+This is an interesting little section in the Form 990.
+
+They actually break down their other investments, which if you remember was listed as a total of $5.8 billion.
+
+Some wrinkle brains should def go through this, as I have no clue what I am looking at, but here are a few points that stood out to me:
+
+-   Citadel is listed on there as a Bank Loan, but for only $1.5 million. Breadcrumbs...
+
+-   Bridgewater Pure Alpha Lead was given $87 million listed as a partner? Interesting...
+
+-   Canada Housing Trust was given $752 million as a Foreign Government Issue
+
+-   China Government Bond and Treasuring were given $750 million, listed as Foreign Government Issues
+
+-   100s of Millions went to different pools that I don't understand
+
+-   700 million went into buying PHYSICAL Gold Bars -- WTF Bill? Lol
+
+-   $223 million went to GreenBriar as a partnership? (Remember GreenBriar were the ones that donated $174 million earlier)
+
+-   100 million went to GTI 8 Institutional Investors (Whoever they are)
+
+-   $805 Million went to Mexico CETES what ever that is?
+
+I think you get the picture right?
+
+NOW....
+
+------------------------------------------------------------------------------------------------------------------
+
+There are a couple of sections in this document that for some stupid reason are printed SIDEWAYS...
+
+(Maybe they want these to be more difficult to read?)
+
+But I did read one of them...
+
+This is TITLED:
+
+Net Gain or LOSS from Sale of Assets not on Line 10
+
+-   Ok, so first up wtf with this as a title?
+
+-   Is this additional revenue that they just don't have to list at all?
+
+-   How it's required is just listed as purchased or donated
+
+-   Date Acquired is just listed as VARIOUS
+
+-   Date Sold is just listed as VARIOUS
+
+But... remember that number I threw out right AT THE START OF THIS POST???
+
+(Go on... check... I'll wait - See if you can figure out which number I am referring to?)
+
+[![r/Superstonk - Billionaire's Boys Club Part 5 - The Foundational Strategy - This shit is getting SCARY Apes!](https://preview.redd.it/97r93dt30n571.png?width=450&format=png&auto=webp&s=1041de8497a9914909bcc23a24921c0f13c43358)](https://preview.redd.it/97r93dt30n571.png?width=450&format=png&auto=webp&s=1041de8497a9914909bcc23a24921c0f13c43358)
+
+I said...
+
+Listed as having GROSS SALES OF GROSS SALES PRICE OF ALL ASSETS?
+
+That number was $260 BILLION...
+
+Take that in for a second...
+
+The total AUM of Citadel is $35 Billion
+
+$260 Billion is 7 times that size!!
+
+(I did the math)
+
+Well that $260 BILLION is also listed on one of these SIDEWAYS PAGES that they don't want us to read... under Net Gain from Sale of Assets Not on Line 10???
+
+They even break this down for us! (On a SIDEWAYS PAGE of course)
+
+The big numbers... (The ones in the billions) are:
+
+-   $11 Billion in Equities
+
+-   $87 Billion in Fixed Income (How is this amount a fixed income)
+
+-   $162 Billion in Cash Equivalents
+
+WHAT THE ACTUAL FUCK?
+
+AND THAT"S THE END OF THE REPORT!
+
+SOURCE: <https://apps.irs.gov/pub/epostcard/cor/911663695_201912_990PF_2021021717709925.pdf>
+
+-------------------------------------------------------------------------------------------------------------------------
+
+So it's safe to say... that JUST LIKE THE CHARTER SCHOOLS, these foundations are all REALLY in the business of making money right? - Just MY OPINION of course...
+
+But let's check if the pattern holds true...
+
+I tried looking up different foundations... and lot's of the WELL KNOWN foundations, I couldn't find ANY Form 990s on.
+
+(Sometimes these foundations are known by one name, but listed as a different name)
+
+But here's the ones that I have and show a similar pattern:
+
+Example: The Lynn & Stacy Schusterman Foundation is ACTUALLY listed as Charles and Lynn Schusterman Family Foundation
+
+(Charles is the Father, who was an oil Tycoon)
+
+-   Donations: $5.7 million
+
+-   Dividends and Interest: $34 million (They invest both directly in companies and through Stocks)
+
+-   Net Gain from Sale of Assets: $151 million
+
+-   Total Revenue $207 million
+
+-   Net Investment Income $197 million
+
+-   Total Assets: $2.2 BILLION
+
+Reference: <https://apps.irs.gov/pub/epostcard/cor/731312965_201912_990PF_2021021317706329.pdf>
+
+-- IMPORTANTLY HERE... this example lists their PAYEES. Alot of which are foundations themselves.
+
+Want MORE examples?
+
+Charles Koch - Koch Industries
+
+The Charles Koch Foundation (Christ, they all name them the same)
+
+-   Donations: $128 Million
+
+-   Dividends $15 million
+
+-   Revenue $168 Million
+
+-   Investment Income $39 million
+
+-   "Other" Investments Balance $617 million
+
+-   Total Assets: $685 million
+
+-   What are the "Other" investment?
+
+-   Elliot International Fund $50 mil
+
+-   EFPRP (What ever the fuck this is) $535 million
+
+-   BAIH (What ever the fuck this is) $60 million
+
+Source: <https://apps.irs.gov/pub/epostcard/cor/480918408_201812_990PF_2020012117047703.pdf>
+
+I'm not going to go through ALL of these foundations, because 1... they are hard to track down due to naming variations... 2... My Head hurts from reading this shit and being shocked.
+
+But I think it's safe to say that it most CERTAINLY is possible that other foundations are doing similar right?
+
+So let me get this straight...
+
+-------------------------------------------------------------------------------------------------------------------------------
+
+Rich People, Create Foundations to avoid tax, take in donations, Invest the donations, make profit from the investments, and then donate the incoming donations out to Charter Schools (Which Make them profit), Political Campaigns (Which Gain them influence) or other Foundations (Which likely do the same kind of shit)... and maybe help some people along the way too for some good PR?
+
+-----------------------------------------------------------------------------------------------------------------------------------
+
+Is this the world we're living in?
+
+Who else has a foundation?
+
+-----------------------------------------------------------------------------------------------------------------------------------
+
+But first... PUPPY BREAK!
+
+Aww... look it that little cute smile on him!
+
+[![r/Superstonk - Billionaire's Boys Club Part 5 - The Foundational Strategy - This shit is getting SCARY Apes!](https://preview.redd.it/7rqeiuu72n571.png?width=1200&format=png&auto=webp&s=4621ba0224be8b3ecc6dd8737085f72668533612)](https://preview.redd.it/7rqeiuu72n571.png?width=1200&format=png&auto=webp&s=4621ba0224be8b3ecc6dd8737085f72668533612)
+
+-----------------------------------------------------------------------------------------------------------------------------------
+
+Kenneth C. Griffin Charitable Fund - Couldn't find anything on this... (I Checked all variations I could think of)
+
+The Citadel Foundation - There is money going through here, but not being invested
+
+Source: <https://apps.irs.gov/pub/epostcard/cor/364482467_201812_990PF_2019032916200160.pdf>
+
+(Lots of Educational Donations though)
+
+Michael "Milky" Milken... you can bet he's got some.
+
+The Milken Family Foundation $100 million in assets and you can bet he's trading through here too... (Lots going through Apollo)
+
+<https://apps.irs.gov/pub/epostcard/cor/954073646_201911_990PF_2021040817913329.pdf>
+
+But of Course...
+
+He's got the Milken Institute aswell...
+
+$500 million in assets
+
+He's trading Securities through it, with Gross sales of $37 million, and $230 million directly invested in securities,
+
+He donates through it (Lots of Educational),
+
+Source: <https://apps.irs.gov/pub/epostcard/cor/954240775_201912_990_2021040217865675.pdf>
+
+The List Goes on Apes I'm Afraid...
+
+So I'll be brief with these:
+
+-   George Soros Has the Open Society Foundations
+
+-   Charles Feeney has a foundation
+
+-   Intels Gordon Moore has a foundation
+
+-   The Broad Family has a foundation
+
+-   Renaissance Hedge Fund Manager Jim Simons has 1
+
+-   Mark Zuckerberg and Priscilla Chan have 1
+
+-   Michael & Susan Dell have 1
+
+-   Leonard & Ronald Lauder have 1
+
+-   Oil and Banking George Kaiser has 1
+
+-   Hedgie Julian Robertson (You remember him right?) has 1
+
+    -   (Yup... I checked, it follows the pattern)
+
+-   Ted Turner Founder of CNN has one called the United Nations Foundation - And he's trading securities through it!
+
+    -   (The UN can not raise funds itself)
+
+The list goes on Apes...
+
+----------------------------------------------------------------------------------------------------------------------------
+
+AM I SAYING THAT ALL FOUNDATIONS DO THIS?
+
+Most certainly not.
+
+AM I SAYING THAT IT IS POSSIBLE THAT FOUNDATIONS ARE USED FOR PROFIT THROUGH INVESTING AND TRADING SECURITIES?
+
+Most Certainly - In my opinion at least and from what I can see in these Form 990s
+
+----------------------------------------------------------------------------------------------------------------------------
+
+Well that's it for today Apes...
+
+I hope this doesn't slant your view of humanity!
+
+Remember, there are lots of beautiful things out there including this community and each one of you GLORIUS BASTARDS!
+
+LET ME KNOW WHAT YOU THINK OF THIS SERIES AS IT REALLY HELPS KEEP ME MOTIVATED!
+
+(Shameless PLUG: Follow me on Twtter for more GME fun: <https://twitter.com/BadassTrader69> )
+
+STAY TUNED FOR PART 6
+
+(There's more)
+
+EDIT 1: Third puppy... by popular demand...
+
+Awww... look at the little fella... give me the paw... give me the paw...
+
+[![r/Superstonk - Billionaire's Boys Club Part 5 - The Foundational Strategy - This shit is getting SCARY Apes!](https://preview.redd.it/cz9g8k6y4n571.png?width=1080&format=png&auto=webp&s=da9e475f11fef8bf8c821081d735f34ddf47e255)](https://preview.redd.it/cz9g8k6y4n571.png?width=1080&format=png&auto=webp&s=da9e475f11fef8bf8c821081d735f34ddf47e255)

01-Must-Read/Billionaire-Boys-Club-by-BadassTrader/2021-06-29-Billionaire-Boys-Club-Part-VI.md

@@ -0,0 +1,382 @@
+Billionaire Boys Club (BBC) Part 6 - SMILE FOR THE CAMERA KENNY...
+==================================================================
+
+| Author      | Source | 
+|  :----:     |    :----:   |        
+| [u/BadassTrader](https://www.reddit.com/user/BadassTrader/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oa8ynd/billionaire_boys_club_bbc_part_6_smile_for_the/) |
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+DISCLAIMER: *I am not a financial advisor, and I do not provide financial advice. Many thoughts here are my opinion, and others can be speculative.*
+
+*Everything I am highlighting here is asking questions about publically available information and not an accusation of any wrongdoing of any parties mentioned.*
+
+Also... I'm not financially trained, so feel free to correct me if I miss something or get something wrong!!
+
+NAVIGATION:
+
+[BBC Part 1](https://www.reddit.com/r/Superstonk/comments/nzkzi5/is_this_the_final_boss_john_petry_and_ken_griffin/)
+
+[BBC Part 2](https://www.reddit.com/r/Superstonk/comments/nzrtsq/billionaires_boys_club_part_2_the_inner_circle/)
+
+[BBC Part 3](https://www.reddit.com/r/Superstonk/comments/nzxjra/billionaires_boys_club_part_3_the_big_boys_i_just/)
+
+[BBC Part 4](https://www.reddit.com/r/Superstonk/comments/o0isaz/billionaire_boys_club_bbc_part_4_recess_is_over/)
+
+[BBC Part 5](https://www.reddit.com/r/Superstonk/comments/o16cbm/billionaires_boys_club_part_5_the_foundational/)
+
+[BBC Part 7](https://www.reddit.com/r/Superstonk/comments/oox1sn/the_billionaire_boys_club_bbc_episode_7_what_daf/)
+
+(THIS IS GME RELATED)
+
+(Shameless PLUG: Follow me on Twitter for more GME fun: <https://twitter.com/BadassTrader69> )
+
+---------------------------------------------------------------------------------------------------------------------------------
+
+Sorry for the delay with this one Apes. IRL gets in the way sometimes.
+
+This one has been a bit of a journey too. I don't have all the answers here, so again... I leave it to you to make your own interpretations... THIS IS MERELY A DISCOVERY JOURNEY OF PUBLICALLY AVAILABLE INFORMATION.
+
+SMILE FOR THE CAMERA KENNY
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 6 - SMILE FOR THE CAMERA KENNY...](https://preview.redd.it/9x7qiqgip6871.png?width=480&format=png&auto=webp&s=adab353e26fea00253b5b2156a4237f6f30b581c)](https://preview.redd.it/9x7qiqgip6871.png?width=480&format=png&auto=webp&s=adab353e26fea00253b5b2156a4237f6f30b581c)
+
+So today's episode of BBC is going to start out at the public-facing image they want you to look at. For Kenny and his Wife at the time, that comes in form of the Kenneth and Anne Griffin Foundation.
+
+*(They like this format: Bill and Linda Gates Foundation)*
+
+The headline for the Kenneth and Anne Griffin Foundation is:
+
+The Kenneth and Anne Griffin Foundation believes that powerful ideas change the world. We identify and support pioneering leaders whose visionary ideas introduce new thinking and drive results. We focus on education, healthcare and the arts because these pursuits form the core of a vibrant, creative, and productive society.
+
+And the Fact they have PLEDGED $100 million to charitable and philanthropic causes since 2009
+
+This is their tagline in the media. Source: <https://philanthropynewsdigest.org/news/kenneth-and-anne-griffin-foundation-likely-to-close-due-to-divorce>
+
+SO I DECIDED TO FACT CHECK THIS
+
+-----------------------------------------------------------------------------------------------------------------------------------
+
+FIRST OFF - Let's address the fact that these numbers are all pledged!
+
+When you hear about X Billionaire donating to X cause, from what I can tell... this is usually in the form of a pledge, not a donation. So they get the headlines for setting up a Direct Debit to these causes so to speak... 10 million, might be 1 million a year for 10 years.
+
+SECOND OFF - Take note of the year... $100 million since 2009
+
+I decided to WAYBACK MACHINE this shit, and found the website:
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 6 - SMILE FOR THE CAMERA KENNY...](https://preview.redd.it/uz9vhqhks6871.png?width=1171&format=png&auto=webp&s=b9a3b362c07b3ac6f89e1e46a1f9436af2516835)](https://preview.redd.it/uz9vhqhks6871.png?width=1171&format=png&auto=webp&s=b9a3b362c07b3ac6f89e1e46a1f9436af2516835)
+
+Ok... so they do claim $100 million in pledges on their website, but... they claim since 1999.
+
+(10 years earlier than what the media reports)
+
+SO....
+
+The foundation officially announced it would shut down in 2014.
+
+So if you were to go with what the website claims, the foundation ran from 1999 - 2014.
+
+(Let's do some math)
+
+That's 15 years!
+
+OR... if you were to go by what the media claims or [Wikipedia](https://en.wikipedia.org/wiki/Anne_Dias-Griffin) states, the foundation ran from 2009 - 2014....
+
+(Math pause...)
+
+That's 5 years!
+
+BUT... when we look at the IRS Form 990s... ([Which you can freely search here](https://apps.irs.gov/app/eos/)) it will only show the company final letters (Which you would think are a confirmation of them disbanding, but is actually their confirmation of tax-exempt status)
+
+-- There were actually 2 of these listings for Kenneth and Anne Griffin Foundation with the same Final letters.
+
+-- BUT... I found out this was the normal process for the IRS. They no longer make public the records for charitable organizations that have shut down...
+
+CONVENIENT...
+
+Luckily... after a bit of Google Detectiving, I found a website that archives at least SOME of these old tax-exempt organizations.
+
+-----------------------------------------------------------------------------------------------------------------------------------
+
+But before we jump into the nitty-gritty... let's take a quick pause to appreciate some puppy pics...
+
+Aww.... who's a good little boy??? Yes! You're a good little boy!!
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 6 - SMILE FOR THE CAMERA KENNY...](https://preview.redd.it/q5hwdnnvu6871.png?width=710&format=png&auto=webp&s=e54ff3804daada52a5099ab89a8a7c1f82305ef2)](https://preview.redd.it/q5hwdnnvu6871.png?width=710&format=png&auto=webp&s=e54ff3804daada52a5099ab89a8a7c1f82305ef2)
+
+-----------------------------------------------------------------------------------------------------------------------------------
+
+THE KENNETH AND ANNE GRIFFIN FOUNDATION - FORM 990S.
+
+2014: <https://projects.propublica.org/nonprofits/display_990/364747915/2014_12_PF%2F36-4747915_990PF_201410>
+
+Listed as $1.7 million donated
+
+Listed as $0 approved for future payment
+
+Sideways Reading - (These pages are always sideways on the IRS website for some reason...)
+
+-   $1.6 million paid to
+
+-   Breast Cancer Research Foundation: $10k
+
+-   Chicago Council on Global Affairs: $25k
+
+-   Children's Hospital of Chicago Foundation: $550k
+
+-   Robin Hood Foundation: $1 million
+
+-   Rush Mother's Milk Club: $5k
+
+-   Usher III Initiative: $50k
+
+In this Filing... as of Oct 1, 2014 both Ken and Anne signed a statement saying that they have $650k of funds remaining in the foundation and a remaining commitment of $2 million to Lurie Children's Hospital of Chicago
+
+Remaining funds and outside funds will pay this off.
+
+Foundation will be liquidated and dissolved
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 6 - SMILE FOR THE CAMERA KENNY...](https://preview.redd.it/15sdphznv6871.png?width=780&format=png&auto=webp&s=c31912d4644ea783d5be211774e70b43e7795165)](https://preview.redd.it/15sdphznv6871.png?width=780&format=png&auto=webp&s=c31912d4644ea783d5be211774e70b43e7795165)
+
+(Also in here... is that final letter confirming Dissolution that should prob be on the IRS website? But maybe I'm wrong.)
+
+2013:
+
+$6.9 million in contributions (All Kens Contributions)
+
+Contributions out $5.1 million
+
+Excess of Revenue $1.7 million which carried forward
+
+Donated to:
+
+-   Children's Hospital of Chicago: $4 million
+
+-   Rush Mothers Milk Club: $55k
+
+-   Weill Cornell Medical College: $833k
+
+Source: <https://projects.propublica.org/nonprofits/display_990/364747915/2014_11_PF%2F36-4747915_990PF_201312>
+
+2012:
+
+Only $1 of revenue went through the foundation
+
+Source: [HERE](https://projects.propublica.org/nonprofits/display_990/364747915/2013_09_PF%2F36-4747915_990PF_201212?__cf_chl_jschl_tk__=ab1a4f067f303d721fa42a6c09788125885a4ad9-1623958393-0-AR9LYX-L1mLf5n6wNVbmlG9qmV-tXRSFcShvdh3A3A-79xZVxUEavG5cvVLIaw4zDvfY3oinafTKYsVHvPsJqkF8ViQcWoGZOwm2W0IhJs3orbxvBWVsuKFsBX5j2WFSMFb2SfWki1Jq_yC8-KYyDjFYtU57H_h6A3E6AhdlNtTy5Bs0k4jSUO3VQVoDJUvv4sHzaJxJA3cJvVgsaZMYQIKIBKoykXzszvA31BQ82YosQvGvmQEav3D_YSDbiR3SbcAZg_NdCEUpAwDVzQGskuPwu-9OQgB2GuWyLXwUYsXm9ec9g0sK5f6u16nZ5cXkcyAVxlgfCuE0AdaxVpA1t2bVWcFCwZ032pGnn4VfZ5cipZSlDuDjbMgSjimkT2JyxnQA_fcNLqBFc2Ju0xnY35YF8P9ton1pcg4VCkD0xNX4titrKwbuUYFCxcSJ_vBP81SZi_eVkdQVgtSCmBTB2ikQqoxsaAwxNSSOSwXSJiHYg6cNoD5r3oiY-itD64MghWRI14x0GiSSXF6MIOzqkoqPxA9oZ2_mh28v_hs5I-GI)
+
+-----------------------------------------------------------------------------------------------------------------------------------
+
+Wait what???
+
+[](https://preview.redd.it/9u1nzrib67871.gif?format=mp4&s=82122dbdbe58c9c38645cba61ae1cf2c77d5b123)
+
+Didn't our earlier math tell us that they had somewhere 15 and 5 years depending on what source you referenced?
+
+SO WHY THE FUCK IS THERE ONLY 2 YEARS OF FORM 990s? - 1 OF WHICH IS THE COMPANY WINDING DOWN?
+
+And let's do a LITTLE BIT MORE MATH...
+
+According to the foundation's Form 990 the total ACTUALLY paid out was:
+
+2014: $1,642,788
+
+2013: $4,888,334
+
+So that's a total of... (Hang on let me fetch my calculator)...
+
+$6,531,122
+
+And let's not forget... the outstanding balance of $2 million to the Chicago Children's hospital
+
+So...
+
+$8,531,122
+
+BUT... the donation to the Children's hospital ALONE was supposed to be $16 million announced in 2010 --- BY THE FOUNDATION... which hadn't even been setup yet.
+
+So let me see...
+
+$100 million - $8,531,122 = $91,468,878
+
+Hey Kenny? I think we may have a problem here...
+
+And further down the rabbit hole we go...
+
+-----------------------------------------------------------------------------------------------------------------------------------
+
+BUT... before we do... let's take a moment. A puppy Moment!
+
+SMILE FOR THE CAMERA! No look over here... over here good boy... fuck it, just take it!
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 6 - SMILE FOR THE CAMERA KENNY...](https://preview.redd.it/j8t64cuv77871.png?width=640&format=png&auto=webp&s=fd0953546dd8e82c5d2fd1adf171ef50e5e55c9d)](https://preview.redd.it/j8t64cuv77871.png?width=640&format=png&auto=webp&s=fd0953546dd8e82c5d2fd1adf171ef50e5e55c9d)
+
+-----------------------------------------------------------------------------------------------------------------------------------
+
+So after a little digging on this curiosity string, I remembered an Article stating that the foundations commitments would be taken on by the Citadel Foundation.
+
+Source: <https://www.chicagotribune.com/business/ct-griffin-foundation-0906-biz-20140906-story.html>
+
+So let's take a look at that...
+
+(Yup, Citadel have their own Foundation)
+
+But there ain't a whole load going on here...
+
+-----------------------------------------------------------------------------------------------------------------------------------
+
+The first Form 990 for the Citadel Foundation appears in 2016 (Bit of a gap in the records there)
+
+This shows a mere 90k of donations in...
+
+And a Total of $461,484 in donations out to:
+
+-   Latin School Chicago
+
+-   Council For Economic Education
+
+-   Muscular Dystrophy Association
+
+-   Marine Corps Scholarship Foundation
+
+-   Hartford Hospital
+
+-   Leadership Greater Chicago
+
+-   University of Chicago Lab Schools
+
+-   Francis W Parker School
+
+-   Merit School of Music
+
+-   Jewish United Fund
+
+-   Hedge Funds Care
+
+-   Jewish Enrichment Center
+
+-   WITS
+
+-   All Stars Helping Kids
+
+-   Thresholds Phychiatric Rehabilition Center
+
+-   St Jude Childrens Research Hospital
+
+-   Autisism Science Foundation
+
+No mention of the Chicago Childrens Hospital
+
+------------------------------------------------------------------------------------------------------------------------------------
+
+THE KENNETH C. GRIFFIN CHARITABLE FUND
+
+The story continues...
+
+[](https://preview.redd.it/j5l3aw2kj7871.gif?format=mp4&s=76ec2c3154df3d8ca3988a17e758787bda77b342)
+
+I found MANY references to Kenny boy making donations to various causes, under ever increasing amounts, referencing The Kenneth C. Griffing Charitable Fund.
+
+(Here's a couple)
+
+On Citadels OWN WEBSITE:
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 6 - SMILE FOR THE CAMERA KENNY...](https://preview.redd.it/qyqf44quj7871.png?width=647&format=png&auto=webp&s=2461963eab71b087600ac06f512b9870995bfc47)](https://preview.redd.it/qyqf44quj7871.png?width=647&format=png&auto=webp&s=2461963eab71b087600ac06f512b9870995bfc47)
+
+Source: <https://www.facebook.com/citadelcareers/photos/were-proud-to-share-that-the-kenneth-c-griffin-charitable-fund-intends-to-make-a/1333523493442956/>
+
+On Citadels Twitter account:
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 6 - SMILE FOR THE CAMERA KENNY...](https://preview.redd.it/7g7lp3xzj7871.png?width=784&format=png&auto=webp&s=a39eac3625f9abf72fe57e0b54164cac78cdd1db)](https://preview.redd.it/7g7lp3xzj7871.png?width=784&format=png&auto=webp&s=a39eac3625f9abf72fe57e0b54164cac78cdd1db)
+
+But GUESS WHAT...
+
+Search for Kenneth C. Griffin Charitable Fund on the IRS website. [<<HERE>>](https://apps.irs.gov/app/eos/)
+
+GO ON... I DARE YOU!!!
+
+I DOUBLE DARE YOU!!!
+
+You WILL NOT FIND IT!
+
+I tried every variation of the name of this fund but I can't find anything!
+
+This sent me on a LONG SEARCH APES...
+
+This search almost had me at breaking point.
+
+I had almost given up... and was about to post this post as is...
+
+When it hit me!
+
+Can you guess what it was>?>?
+
+I have mentioned it in this DD... and trust me when I say this... it was hidden as 1 sentence in the mass of notes I've taken while researching this.
+
+I almost missed it.
+
+WHILE I WAIT TO SEE IF YOU APES CAN FIGURE OUT THE KEY PIECE OF INFORMATION...
+
+----------------------------------------------------------------------------------------------------------------------------------
+
+PUPPY BREAK!
+
+Who's got my finger... is it a WOLF... no! It's only this cute little monster!
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Part 6 - SMILE FOR THE CAMERA KENNY...](https://preview.redd.it/fjpfchu3l7871.png?width=1000&format=png&auto=webp&s=980747701d772251c34b6100f7863f7451b2a95e)](https://preview.redd.it/fjpfchu3l7871.png?width=1000&format=png&auto=webp&s=980747701d772251c34b6100f7863f7451b2a95e)
+
+-------------------------------------------------------------------------------------------------------------------------------
+
+Ok did you get it?
+
+-- There were actually 2 of these listings for Kenneth and Anne Griffin Foundation with the same Final letters.
+
+There were 2 SEPERATE ENTITIES - listed under the name Kenneth and Anne Griffin Foundation in the Form 990s...
+
+How is it possible to have 2 separate companies, using the same name... collecting tax-exempt status?
+
+WELL... APES... LET ME TELL YOU...
+
+I decided to do a fancy google search for the EIN number (Unique identifier) for each of these companies... and I stumbled across another archive database.
+
+This archive has a lot less information it would seem...
+
+But it does have this...
+
+[2011 - Form 990 - COMPANY: The Blue Knight Foundation](https://www.causeiq.com/organizations/view_990/271106860/18144bf08cbbe623768d225aa4442644)
+
+[2012 - Form 990 - COMPANY: The Blue Knight Foundation](https://www.causeiq.com/organizations/view_990/271106860/db80347caef04de02c9c02c9d4512718)
+
+And if you check these out... you'll notice in the company name field, you'll see:
+
+THE BLUE KNIGHT FOUNDATION AKA THE KENNETH AND ANNE GRIFFIN FOUNDATION
+
+So Kenny tends to name his charities one thing and tell the media that's it's through an Alias name?
+
+Why the fuck would you want to do that?
+
+So if he's willing to do that once... could he be doing it again with the Kenneth C. Griffin Charitable Fund?
+
+Is there a fund out there that Kenny is managing, that like we previously showed... has the potential to be a whale in the stock market?
+
+Why did the Kenneth and Anne Griffin Foundation, claim to PLEDGE $100 million since 1999, tell the media it was actually founded in 2009... and yet actually only have records under that name from 2013 and 2014...???
+
+Why does this article talk about:
+
+*In October 2006, the Griffins together with the Bill and Melinda Gates Foundation founded a new charter school in Chicago named the Woodlawn High School. Griffin's charitable foundation*
+
+????????????????????????????
+
+So many more questions Apes... so little time...
+
+Stay tuned for the NEXT EPISODE of the BBC!
+
+-------------------------------------------------------------------------------------------------------------------------------
+
+*PS... I've noticed that I have started to be referred as the BBC guy... is there any way I can get the community to reconsider this... (Pfftt ha haa ha)*
+
+------------------------------------------------------------------------------------------------------------------------------
+
+(Shameless PLUG: Follow me on Twitter for more GME fun: <https://twitter.com/BadassTrader69> )

01-Must-Read/Billionaire-Boys-Club-by-BadassTrader/2021-07-21-Billionaire-Boys-Club-Part-VII.md

@@ -0,0 +1,318 @@
+The Billionaire Boys Club (BBC) Episode 7 - What DAF fuck is this??? FINALLY AN ANSWER!
+=======================================================================================
+
+| Author      | Source | 
+|  :----:     |    :----:   |        
+| [u/BadassTrader](https://www.reddit.com/user/BadassTrader/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oox1sn/the_billionaire_boys_club_bbc_episode_7_what_daf/) |
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+First off Apes, apologies it's taken so long to get to episode 7.
+
+Sometimes an Ape actually has to work, and can merely pump out Head Banging Beavis and Butthead memes instead of spending hours a day scrolling through Tax Forms.
+
+Plus... those memes are fun... this... not so much...
+
+But HERE WE GO AGAIN...
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+DISCLAIMER: *I am not a financial advisor, and I do not provide financial advice. Many thoughts here are my opinion, and others can be speculative.*
+
+*Everything I am highlighting here is asking questions about publically available information and not an accusation of any wrongdoing of any parties mentioned.*
+
+Also... I'm not financially trained, so feel free to correct me if I miss something or get something wrong!!
+
+NAVIGATION:
+
+[BBC Part 1](https://www.reddit.com/r/Superstonk/comments/nzkzi5/is_this_the_final_boss_john_petry_and_ken_griffin/)
+
+[BBC Part 2](https://www.reddit.com/r/Superstonk/comments/nzrtsq/billionaires_boys_club_part_2_the_inner_circle/)
+
+[BBC Part 3](https://www.reddit.com/r/Superstonk/comments/nzxjra/billionaires_boys_club_part_3_the_big_boys_i_just/)
+
+[BBC Part 4](https://www.reddit.com/r/Superstonk/comments/o0isaz/billionaire_boys_club_bbc_part_4_recess_is_over/)
+
+[BBC Part 5](https://www.reddit.com/r/Superstonk/comments/o16cbm/billionaires_boys_club_part_5_the_foundational/)
+
+[BBC Part 6](https://www.reddit.com/r/Superstonk/comments/oa8ynd/billionaire_boys_club_bbc_part_6_smile_for_the/)
+
+[BBC Part 8](https://www.reddit.com/r/Superstonk/comments/ope0w3/billionaire_boys_club_bbc_episode_7_the_chips_are/)
+
+(THIS IS GME RELATED)
+
+(Shameless PLUG: Follow me on Twitter for more GME fun: <https://twitter.com/BadassTrader69> )
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+[Jeff Bezos, 1 Man alone, is worth more than 270 million people COMBINED across these countries.](https://preview.redd.it/yc7cw0oqelc71.png?width=2724&format=png&auto=webp&s=9eb586872dbd71828c6a246a8dfde44e2e67c49f)
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+Today's episode is brought to you by the letter D...
+
+What is a Donar Advised Fund? (DAF)
+
+A DAF is a giving account established at a public charity. It allows donors to make a charitable contribution, receive an immediate tax deduction, and then recommend grants from the fund over time.
+
+[Source](https://www.nptrust.org/what-is-a-donor-advised-fund/)
+
+Sounds positive right? Like a charity right?
+
+But there are a couple of subtle differences here...
+
+FIRST... let's just get this one out of the way...
+
+There are NO REQUIREMENTS for a DAF to actually donate ANY portion of their fund to a charitable organization...
+
+Seriously...
+
+That example I was talking about...
+
+In 2014, the founder and CEO of Go Pro, Nicholas Woodman took his company public.
+
+This earned him a HARD-EARNED $3 Billion...
+
+Now don't get me wrong... I'm not ANTI-Capitalism...
+
+Sure some shit is crazy like Bezos...
+
+But Woodman... then had a tax bill on his $3 Billion of around 15% meaning he owed the Government $450 million.
+
+GREAT you might think...
+
+That can go back into society...
+
+Pay for some homeless shelters...
+
+Build better roads...
+
+SOMETHING...
+
+NAH...
+
+What did he do?
+
+He setup a DAF... Donated $500 million to it and PUFF
+
+That tax bill was GONE
+
+FUCKING GONE!!!
+
+[Source](https://theapeiron.co.uk/are-the-rich-gaslighting-us-when-they-donate-billions-to-charity-fc414c654607)
+
+But you may be thinking... ok, so he created a DAF, he donated $500 million, at least that will go to some good causes?
+
+Even if there is no REQUIREMENT to donate anything to a charitable cause... surely SOMEONE is looking under the hood to make sure nothing shady is going on right?
+
+Well 4 years later... the New York Times decided to take a look...
+
+See how this $500 million was doing good in the world...
+
+By then... The ONLY donation Woodman had made was an undisclosed sum to a fundraiser called "The Bonny Doon Art, Wine, and Brew Festival"
+
+[Source](https://www.nytimes.com/2018/08/03/business/donor-advised-funds-tech-tax.html) (requires NYtimes subscription which I refuse to pay)
+
+---------------------------------------------------------------------------------------------------------------------------------------
+
+So you see...
+
+Not only does a DAF NOT have any requirements to donate to charitable causes... they have very little requirements at ALL...
+
+-   You don't have to donate to anything...
+
+-   You get an IMMEDIATE tax write-off...
+
+-   You can use the fund to INVEST in WHATEVER you want...
+
+-   You can transfer Money, Stocks, Land, Cars, Art... anything that you MIGHT not want to pay tax on
+
+-   You can HIRE YOUR BUDDIES to work for your DAF under undisclosed positions
+
+-   You can setup your DAF to provide Salaries for GENERATIONS of your family name
+
+And not only that...
+
+BUT...
+
+*It is also possible for you to open a donor-advised fund as a complement and a companion to your existing private foundation, maximizing your tax benefits while achieving your philanthropic goals.*
+
+Now fuck me... that sounds suspect as fuck...
+
+Veins are popping out of my head right now... so you know what time it is!!!
+
+---------------------------------------------------------------------------------------------------------------------------------------
+
+Awww... look at that puppy in a cup...
+
+Aren't you the Cutest Puppy in a cup I've Ever Seen?
+
+Yes you are... Yes you Are...
+
+<https://preview.redd.it/4q0ob0uzjlc71.png?width=1600&format=png&auto=webp&s=eb476c0e2ac72cf27a9b0ddc5efe49ed3a66504e>
+
+---------------------------------------------------------------------------------------------------------------------------------------
+
+So anyway... DAFs...
+
+I looked up the definition of a DAF on the IRS website... and even they say there's some shady shit going down here...
+
+The Definition starts out pretty normal with this:
+
+*Generally, a donor advised fund is a separately identified fund or account that is maintained and operated by a section 501(c)(3) organization, which is called a sponsoring organization. Each account is composed of contributions made by individual donors. Once the donor makes the contribution, the organization has legal control over it. However, the donor, or the donor's representative, retains advisory privileges with respect to the distribution of funds and the investment of assets in the account.*
+
+Then IMMEDIATELY... next paragraph... says this:
+
+*The IRS is aware of a number of organizations that appeared to have abused the basic concepts underlying donor-advised funds. These organizations, promoted as donor-advised funds, appear to be established for the purpose of generating questionable charitable deductions, and providing impermissible economic benefits to donors and their families (including tax-sheltered investment income for the donors) and management fees for promoters.*
+
+A NUMBER of organizations... dodging taxes with these things.
+
+Have you Apes heard anything about this?
+
+There must be some serious investigations going on right?
+
+MEH...
+
+Not really.
+
+I mean there is definitely some dodgy stuff going through these things...
+
+America's Biggest (Edit: Religion) Charity Funnels Tens of Millions to (Edit: Questionable) Groups Through DAFS:
+
+<https://readsludge.com/2019/03/19/americas-biggest-christian-charity-funnels-tens-of-millions-to-hate-groups/>
+
+The President of the New York Legal Assistance Group, diverts $2.3 million to DAFs, Makes $1.7 million through them, then transfers that $1.7 million back to the New York Legal Assistance group and when he's caught, gets fined $150,000...
+
+(Can't Make this shit up)
+
+<https://www.thenonprofittimes.com/npt_articles/deal-stuck-donor-advised-fund-scam/>
+
+But REALISTICALLY... there ain't much here at all.
+
+But LET ME ASK YOU THIS APE...
+
+Do YOU (Yes You) think that the 1%ers of this world, when offered all these BENEFITS while at the same time completely wiping out their Tax Bill... AND... Ensuring their heir line in perpetuity... that they wouldn't be taking advantage of it?
+
+Pushing the limit of morals so to speak?
+
+--- LET ME KNOW IN THE COMMENTS? ---
+
+---------------------------------------------------------------------------------------------------------------------------------------
+
+So of course... you'd think this GET OUT OF TAX FREE card would be popular right?
+
+Let's take a look...
+
+<https://preview.redd.it/ajzbeymv2mc71.png?width=1024&format=png&auto=webp&s=5768a809fec2e5bf448fe6883a6ce7708de99a64>
+
+Seems like they are giving more and more... ok CHECK
+
+But get this...
+
+We know these guys all have their own charities right?
+
+Well in 2019, grants of $25 BILLION were given from DAFS to Charities... (hmm... I wonder if they give to their OWN charities through DAFs?) - This represents a 93% increase since 2015...
+
+And of course... in 2019 $38.81 Billion was donated INTO DAFs... again and 80% increase since 2015!
+
+So these things are INCREASING RAPIDLY in popularity!
+
+-- And guess what?
+
+THIS IS JUST THE DAFS THAT ARE ASSOCIATED WITH CHARITIES!
+
+So if I am a Billionaire and I own a charity... I likely own a DAF too...
+
+-   53 National Charities have a DAF
+
+-   607 Community Foundations have a DAF
+
+-   333 Single Issue Charities have a DAF
+
+But what about Private Foundations... Like the Bill and Melinda Gates Foundation... or the Kenneth C Griffin Charitable Foundation that doesn't seem to exist???
+
+THERE ARE 873,228 DAFS ASSOCIATED WITH PRIVATE FOUNDATIONS IN THE US ALONE
+
+[Source](https://www.nptrust.org/reports/daf-report/)
+
+NOW...
+
+When you look at this report, there are some metrics in there that make this seem like it's not such a big deal like this one...
+
+<https://preview.redd.it/85lgnngo5mc71.png?width=1024&format=png&auto=webp&s=2a03c7065492fb9bbefd8f22876e590f4b6f6a13>
+
+So the average payout from these DAFs is 22.4%... so at least they are doing something right?
+
+But what you may not notice... is that none of the data in this report are on DAFs associated with Private Foundations!!!
+
+WHY???
+
+BECAUSE THEY DON'T HAVE TO REPORT ANYTHING TO ANYONE
+
+Urrrghhh....
+
+*Also, these funds can be relatively anonymous because, unlike foundations, they are not required to disclose as much information about their charitable giving. This means that finding detailed, public information about a donor-advised fund's grantmaking activities can be challenging for* *grantseekers and researchers****.***
+
+[Source](https://learning.candid.org/resources/knowledge-base/donor-advised-funds/)
+
+So basically... ANYONE can set one of these up... and can be basically ANONYMOUS... Especially if you already have a Private Foundation Charity!!
+
+-------------------------------------------------------------------------------------------------------------------------------------
+
+That's when it HIT ME Apes...
+
+The Kenneth C. Griffin Charitable Fund...
+
+It's a FUCKING DAF!!!
+
+THAT'S why I couldn't find any record of it...
+
+THAT'S why his charitable donations numbers were all over the place...
+
+So I did a little digging...
+
+And I found it...
+
+He left ONE TRACE
+
+You need to SIGN UP to get access to this one, which I am normally against... but at least it's free...
+
+THE SMOKING GUN
+
+[Source](https://www.philanthropy.com/article/chop-receives-25-million-for-pediatrics-and-dartmouth-lands-20-million-for-dei-in-stem-fields?bc_nonce=wkta5bu9ecmhfgavpwo6&cid=reg_wall_signup)
+
+Quote:
+
+Griffin founded the Citadel Investment Group, a hedge fund in Chicago. He is a prolific donor who primarily gives through his donor-advised fund, the Kenneth C. Griffin Charitable Fund, and mostly supports universities and arts and culture institutions. His biggest gifts are $150 million to Harvard in 2014, $125 million to the University of Chicago in 2017, and $125 million to the Museum of Science and Industry in 2019.
+
+-------------------------------------------------------------------------------------------------------------------------------------
+
+So there you have it Apes...
+
+You now know, Kenny has his own get out of Tax Free Card with 0 regulation and has set himself up to protect his family line in perpetuity, and when MOASS happens and Citadel goes down... Kenny Declares Bankruptcy... he can still give himself a new job with a 7 or 8 figure Salary while trading the market as he pleases...
+
+THROUGH HIS FUCKING DAF
+
+That's it for this leg of the investigation...
+
+BUT IT WILL CONTINUE!!!
+
+-------------------------------------------------------------------------------------------------------------------------------------
+
+If you like this series... please let me know what you think in the comments! Really helps keep me focused!
+
+Also...
+
+(Shameless PLUG: Follow me on Twitter for more GME fun: <https://twitter.com/BadassTrader69> )
+
+-------------------------------------------------------------------------------------------------------------------------------------
+
+Before we go... we need to take a moment... to appreciate...
+
+IT'S A FUCKING BALL OF FLUFF PUPPY!!!
+
+oHHH... who's a ball of FLUFF... YES YOU'RE A BALL OF FLUFF!!!!
+
+<https://preview.redd.it/femrs2vm9mc71.png?width=730&format=png&auto=webp&s=8ac5be70e3599f5a47f961892e807b1df23c0c8f>

01-Must-Read/Billionaire-Boys-Club-by-BadassTrader/2021-07-22-Billionaire-Boys-Club-Part-VIII.md

@@ -0,0 +1,320 @@
+Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.
+=============================================================================================
+
+| Author      | Source | 
+|  :----:     |    :----:   |        
+| [u/BadassTrader](https://www.reddit.com/user/BadassTrader/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/ope0w3/billionaire_boys_club_bbc_episode_7_the_chips_are/) |
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+(YA... I TOTALLY FORGOT HOW TO COUNT... THIS IS EPISODE 8)
+
+DISCLAIMER: *I am not a financial advisor, and I do not provide financial advice. Many thoughts here are my opinion, and others can be speculative.*
+
+*Everything I am highlighting here is asking questions about publically available information and not an accusation of any wrongdoing of any parties mentioned.*
+
+Also... I'm not financially trained, so feel free to correct me if I miss something or get something wrong!!
+
+NAVIGATION:
+
+[BBC Part 1](https://www.reddit.com/r/Superstonk/comments/nzkzi5/is_this_the_final_boss_john_petry_and_ken_griffin/)
+
+[BBC Part 2](https://www.reddit.com/r/Superstonk/comments/nzrtsq/billionaires_boys_club_part_2_the_inner_circle/)
+
+[BBC Part 3](https://www.reddit.com/r/Superstonk/comments/nzxjra/billionaires_boys_club_part_3_the_big_boys_i_just/)
+
+[BBC Part 4](https://www.reddit.com/r/Superstonk/comments/o0isaz/billionaire_boys_club_bbc_part_4_recess_is_over/)
+
+[BBC Part 5](https://www.reddit.com/r/Superstonk/comments/o16cbm/billionaires_boys_club_part_5_the_foundational/)
+
+[BBC Part 6](https://www.reddit.com/r/Superstonk/comments/oa8ynd/billionaire_boys_club_bbc_part_6_smile_for_the/)
+
+[BBC Part 7](https://www.reddit.com/r/Superstonk/comments/oox1sn/the_billionaire_boys_club_bbc_episode_7_what_daf/)
+
+(THIS IS GME RELATED)
+
+(Shameless PLUG: Follow me on Twitter for more GME fun: <https://twitter.com/BadassTrader69> )
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+Ok Apes... I think we've done enough prep work to start talking about the bigger picture stuff.
+
+So far we've covered:
+
+-   The Milken Institute
+
+-   The Connections between all the big boys
+
+-   The Big GME Short Positions
+
+-   Bill Gates
+
+-   Charter Schools
+
+-   Private Foundations
+
+-   A look behind the scenes with Kenny
+
+-   DAFs
+
+By no means is this list exhaustive... but it's definitely enough to start thinking about some things...
+
+So let's start with WHY...
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+Why do these guys all have charities?
+
+Why do the charities all have DAFs?
+
+Why does the divide between rich and poor get greater and greater?
+
+Why does the world around you always seem just a little bit off?
+
+(Are we REALLY in the Matrix?)
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+This episode... I'm going to talk about a Hypothetical...
+
+Let's pretend for a minute that I BADASSTRADER am a 37 year old genius trader that wants to run the worlds BIGGEST and BEST hedge fund?
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/uiomwgpmarc71.png?width=194&format=png&auto=webp&s=fa575a626296fd3fff122c7aa77612fda3b0d5be)](https://preview.redd.it/uiomwgpmarc71.png?width=194&format=png&auto=webp&s=fa575a626296fd3fff122c7aa77612fda3b0d5be)
+
+I've been trading since my college days at Harvard and have spent my time building all the right connections.
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/vkf3dfy8brc71.png?width=202&format=png&auto=webp&s=c00cd5e9cacf710272d361bed4dca06a0938c262)](https://preview.redd.it/vkf3dfy8brc71.png?width=202&format=png&auto=webp&s=c00cd5e9cacf710272d361bed4dca06a0938c262)
+
+By 2006, I have a personal net worth of $1.7 Billion... by 2007, I've nearly doubled that PERSONAL net worth to $3 Billion and my Company Gets Rated the Best Hedge Fund by EuroMoney in 2007 with AUM of $16 Billion...
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/1pnvszjvbrc71.png?width=200&format=png&auto=webp&s=48d1668b98236c1095c4938167a198fae85764d6)](https://preview.redd.it/1pnvszjvbrc71.png?width=200&format=png&auto=webp&s=48d1668b98236c1095c4938167a198fae85764d6)
+
+So I'm starting to hit my goals... voted the BEST Hedge Fund... but not yet the BIGGEST... and of course then along comes 2008.
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/mox0x789crc71.png?width=524&format=png&auto=webp&s=b11c9d32763c87560beb65aa73cec45cdf22bdc3)](https://preview.redd.it/mox0x789crc71.png?width=524&format=png&auto=webp&s=b11c9d32763c87560beb65aa73cec45cdf22bdc3)
+
+This REALLY scares the SHIT out of me...
+
+I have to fight and fight and fight just to survive 1 more day, and though I barely scrape through, it has never hit home how quickly and easily everything I've built comes crashing down.
+
+So I need to start getting smarter.
+
+In 2008, I lost $8 billion of my clients money...
+
+I jumped on a conference call with my Clients, reassured them of my company's stability with an $8 billion line of credit from banks... and then I froze all their accounts from withdrawals.
+
+I deleveraged most of my higher-risk strategies and focused instead on my multistrategy funds. By Jan, I was back to making profits (Well before the bottom of the crash)
+
+By November... I'm back up by 59%, I have $13 Billion AUM and I'm smart enough to know there is a void in the market by the collapse of Lehman Brothers...
+
+I send my right-hand man Rohit D'Souza to New York and setup Citadel Securities to take advantage of this void.
+
+Now I am trading High-Yield Dept for Institutional Clients, I am underwriting Bonds and I am offering Loan Deals in the 100s of millions.
+
+Normally... It takes New Securities Firms 3 years just to reach breakeven...
+
+I do it in 12 months by launching Citadel Execution Services, which becomes the largest equity options market maker in the US in a matter of weeks and now my fund has $25 Billion AUM.
+
+[Source](https://www.institutionalinvestor.com/article/b150q8rn5hg35w/hedge-fund-manager-ken-griffin-pursues-banking-alternative)
+
+I now feel unstoppable... I am smarter than everyone else and I have done what nobody thought possible
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/1gd9qzkqfrc71.png?width=1333&format=png&auto=webp&s=e2e7a7a148d72bb6898cc29f2ee07488a8be2988)](https://preview.redd.it/1gd9qzkqfrc71.png?width=1333&format=png&auto=webp&s=e2e7a7a148d72bb6898cc29f2ee07488a8be2988)
+
+So what do I do now? I need to lock this in and protect my downside right?
+
+I had already setup my DAF but now that I am profitable again...
+
+I start pumping 100s of millions of my Net worth into it... and I make it look legit by every now and then throwing a few million at a charitable cause... but it of course has to have added benefits too and further my agenda (these amounts are not even close to the tax write off I get, not mind the appreciation of the assets I have in there)
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/xxrgxxzpgrc71.png?width=717&format=png&auto=webp&s=7a6aa957b273887f851674dc0b9bf9b07934a81a)](https://preview.redd.it/xxrgxxzpgrc71.png?width=717&format=png&auto=webp&s=7a6aa957b273887f851674dc0b9bf9b07934a81a)
+
+I'm good friends with Bill Gates since we setup our first Charter School in 2006 who advises me to setup a Private Foundation just like his
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/d3sfbovygrc71.png?width=680&format=png&auto=webp&s=1b199ac3c75d8787fd803ead611062a2d76786fa)](https://preview.redd.it/d3sfbovygrc71.png?width=680&format=png&auto=webp&s=1b199ac3c75d8787fd803ead611062a2d76786fa)
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/i092b4bchrc71.png?width=843&format=png&auto=webp&s=bf0311f710afb5aba0250940512df02864fa8904)](https://preview.redd.it/i092b4bchrc71.png?width=843&format=png&auto=webp&s=bf0311f710afb5aba0250940512df02864fa8904)
+
+BUT REALISTICALLY... I know that most of my money will be going through my DAF... and even after I got divorced and shut down my Private Foundation... I still made 10s of millions in donations from an organization that has no public-facing information, no tax returns, an unknown sum of AUM and I'm not accountable to anyone for it!!
+
+But maybe for public perception I better keep open a Private Foundation under Citadels name, that doesn't really do anything...
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/xk1dr482irc71.png?width=754&format=png&auto=webp&s=cadf39a6900cb2abac22fd4a3b1106530559206a)](https://preview.redd.it/xk1dr482irc71.png?width=754&format=png&auto=webp&s=cadf39a6900cb2abac22fd4a3b1106530559206a)
+
+So I am making BILLIONS of dollars in personal wealth now...
+
+I control the vast Majority of Trade in the US through my Company...
+
+I pay virtually no taxes...
+
+I get to push my agenda on how I want society to look through my contributions which are essentially only the dividends from my personal assets under management...
+
+And I crack the TOP 10 Biggest Hedge Funds...
+
+Then this happens...
+
+*(Speculation)*
+
+I decide to make a trade through my personal DAF on a little company called
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/2c93ewjpnrc71.png?width=800&format=png&auto=webp&s=bde51739cab3d4149f9460cced1fdc38f4ebe45c)](https://preview.redd.it/2c93ewjpnrc71.png?width=800&format=png&auto=webp&s=bde51739cab3d4149f9460cced1fdc38f4ebe45c)
+
+It doesn't go quite the way I want it... so FUCK IT... I'm TOO SMART to take a loss...
+
+I get the Company Involved and bring in the Might of Citadel... That'll sort them out...
+
+I continue to short the shit out of them as I laugh maniacally watching the Share Price dwindle away...
+
+The end is near and the rewards will be massive for both my company and my personal AUM through my DAF...
+
+I get all my friends in on this and start to push it down further...
+
+But little did I know...
+
+SOMEWHERE... a sharp young man was setting up his room, plugging in his mic... connecting up his camera... and getting ready to stream for the first time...
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/k33hz8v4jrc71.png?width=1379&format=png&auto=webp&s=229ffec5e0690cf2ef13fde964104b5414b65cc6)](https://preview.redd.it/k33hz8v4jrc71.png?width=1379&format=png&auto=webp&s=229ffec5e0690cf2ef13fde964104b5414b65cc6)
+
+(You beautiful kitty you)
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+I was going to have to take a Puppy break after putting my mind in the place of Kenny for so long after writing this far... but this handsome kitty saved me.
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+The point of all this...
+
+While all this was going on... and Kenny was building his Empire...
+
+What were you doing?
+
+Working 9-5 in a boring office job?
+
+Working hard labor on a building site?
+
+Worrying about the school run tomorrow and trying to remember if you packed the kids lunches?
+
+Getting stoned and playing video games til 4AM, and getting up at 1pm the next day?
+
+IT DOESN'T MATTER...
+
+You probably weren't doing what Kenny was doing
+
+He's prepared!
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+This is their game...
+
+They have been mastering this craft of taking our money, for decades now... and we didn't even know we were part of a game...
+
+The CHIPS ARE STACKED AGAINST US...
+
+But we have finally opened our eyes...
+
+We are finally fighting back... gaining wrinkles each and every day...
+
+They have been at this for generations... we ONLY JUST GOT IN THE GAME...
+
+Are you IMPATIENT???
+
+Good... Buy and Hold!
+
+Are you BROKE from buying???
+
+Good!!! HOLD!!!!
+
+Are you sick of learning more about the corruption and monstrosities that go on at their level?
+
+GOOOD!!! Get Angry and BUY AND HOLD!
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+It's not all going to come crumbling down just because we want it too...
+
+Thanks to the few that have shined their torches for us... we have a path to bring it down... Just by Buying and holding... and I'll say this too...
+
+There was 1 other phrase of wisdom imparted on us...
+
+Apes Together Strong...
+
+I've been seen this a little less recently.
+
+Not just mod drama shit... but even apes shitting on other apes because they disagree with something... shill or no shill...
+
+*(How about instead of trying to accuse everyone of being a shill... we just be extra nice to anyone we think is a shill? That way... if they are a shill... they won't know what to do... and if it's just an Ape having a bad day... you've got their back by being nice to them!)*
+
+It doesn't matter.
+
+Of course there is a lot of frustration out there... and it's easy to let emotion get the better of us...
+
+*(*Queue Dramatic Music)*
+
+But if Apes Together Strong fails...
+
+Then buying and holding fails...
+
+And if buying and holding fails...
+
+Then the Cycle of corruption will continue.
+
+This is not meant as FUD...
+
+There is nothing to be FUD about...
+
+This is just a reminder to remember...
+
+Remember WHY you are here...
+
+Remember WHO you are here for...
+
+Remember WHAT this means for you...
+
+And remember HOW you got here...
+
+KENNY is smart...
+
+Whatever about Evil... he is smart...
+
+And he is BANKING on us Crumbling...
+
+It's up to EACH of you and me to prevent this from happening
+
+(Yes even YOU ape!)
+
+His weakness is his Ego... and we are slowly chipping away at it.
+
+It's ours to lose now...
+
+So...
+
+How about TOGETHER we be the Apes we know we can be?
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+I know this is a little off-topic from the usual BBC, but you Apes inspired me with this train of thought from all the positive feedback I got on yesterday's BBC... so I felt it was worth getting into...
+
+IF YOU DIDN'T LIKE THIS FORMAT... LET ME KNOW IN THE COMMENTS SO I KNOW NOT TO DO IT AGAIN...
+
+-----------------------------------------------------------------------------------------------------------------------------------------
+
+But before I end today's episode... this was requested...
+
+Is that a Puppy and a Baby Monkey Playing with an Ape???
+
+[![r/Superstonk - Billionaire Boys Club (BBC) Episode 7 - The chips are stacked against us... ALWAYS HAVE BEEN.](https://preview.redd.it/mlipt55olrc71.png?width=1280&format=png&auto=webp&s=05c086928cf1fb8b2c643860a621f10a9e071345)](https://preview.redd.it/mlipt55olrc71.png?width=1280&format=png&auto=webp&s=05c086928cf1fb8b2c643860a621f10a9e071345)
+
+YES IT IS!!
+
+-----------------------------------------------------------------------------------------------------------------------------
+
+I've had a few requests about getting the word out about this series...
+
+I am limited by my Audience reach through Reddit and Twitter...
+
+Some of you already follow me on Twitter... but if you could also retweet my tweet about this post, this may help do that -> <https://twitter.com/BadassTrader69/status/1418204517527547905>
+
+(And for those that don't already Follow me on Twitter for more GME fun: <https://twitter.com/BadassTrader69> )

01-Must-Read/House-of-Cards-by-atobitt/2021-05-26-House-of-Cards-Part-II.md

@@ -0,0 +1,324 @@
+House of Cards - Part 2
+=======================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/atobitt](https://www.reddit.com/user/atobitt/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nlwaxv/house_of_cards_part_2/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+*Prerequisite DD:*
+
+1.  [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/)
+
+2.  [The EVERYTHING Short](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/)
+
+3.  [The House of Cards -- Part 1](https://www.reddit.com/r/Superstonk/comments/mvk5dv/a_house_of_cards_part_1/)
+
+____________________________________________________________________________________________________________
+
+TL;DR- No freaking way I can do that.
+
+____________________________________________________________________________________________________________________
+
+1. Pilot
+
+I wasn't looking into GameStop when all of this began. Most of my time was spent researching the pandemic's impact on the economy. I'm talking about the economic steam engine that employs people and puts food on their tables. Especially the small businesses that were executively steamrolled by COVID lockdowns. It was scary how fast they had to close their doors.
+
+I spent a lot of time looking at companies like GameStop. Brick-n-mortar businesses were basically running out of bricks to sh*t. Frankly, GameStop looked a lot like the next Blockbuster and it just seemed like a matter of time before they went under. Had DFV not done his homework, it's possible we wouldn't have a rocket to HODL or a story to TODL.
+
+Whoever has/had a short position with GameStop was probably thinking the same thing. The number of shares that can be freely traded on a daily basis is referred to as "the float". GameStop has 70,000,000 shares outstanding, but 50,000,000 shares represented "the float". With a small float like this, a [short position of 20% becomes significant](https://bullishbears.com/vw-short-squeeze/). Heck, Volkswagen got squozed with just a [12.8%](https://bullishbears.com/vw-short-squeeze/) short position. So let's use little numbers to walk through an example of how this works.
+
+Assume VW has 100 shares outstanding. If 12.8% of the company has been sold short, then 12.8 shares (let's just say 13) must be available to purchase at a later date (assuming VW doesn't go bankrupt). However, VW had a float of 45% which meant there was no real strain to cover that 12.8% short position at any moment. However, when Porsche announced they wanted to increase their position in VW, they invested HEAVILY.
+
+*"The kicker was that Porsche owned 43% of VW shares, 32% in options, and the government owned 20.2%.... In plain terms, it meant that the actual available float went from 45% down to 1% of outstanding shares" (bullishbears.com/vw-short-squeeze/).*
+
+Let's revisit our scenario. With 100 shares outstanding and 13 shares sold short, what happens if only 1 share was available to cover instead of 45?
+
+Well..... THIS:
+
+[![r/Superstonk - House of Cards - Part 2](https://preview.redd.it/c1n24ypq5k171.jpg?width=348&format=pjpg&auto=webp&s=2401d50c3ec1197e08564be1ffbd643558e52b6a)](https://preview.redd.it/c1n24ypq5k171.jpg?width=348&format=pjpg&auto=webp&s=2401d50c3ec1197e08564be1ffbd643558e52b6a)
+
+____________________________________________________________________________________________________________
+
+GameStop is/was the victim of price suppression through short selling. I discussed this topic with [Dr. T](https://www.youtube.com/watch?v=fGVY2Kco8ng) and [Carl Hagberg](https://www.youtube.com/watch?v=KHnpPfWdf78) in [our AMAs.](https://www.youtube.com/watch?v=KHnpPfWdf78) Every transaction has two sides- a buy and a sell. Short selling artificially increases the *supply* of shares and causes the price to decline. When this happens, the price can only increase if *demand* exceeds the increase in supply.
+
+I started looking closely at GameStop after confirming their reported short position of [140%](https://www.reuters.com/article/us-retail-trading-congress-shorting/short-selling-under-spotlight-in-gamestop-hearing-idUSKBN2AJ026). It's important for me explain this why this is so much different than the VW example...
+
+140% of GameStop's FLOAT was sold short. There were 50,000,000 shares in that float, so 140% of this was equal to the 70,000,000 shares the company has outstanding. This means AT LEAST 100% of their outstanding shares has been sold short. Now compare that to VW where the short position was only 12.8%... Simply put, it is mathematically impossible to cover more than 100% of a company's outstanding stock.
+
+The *peak* of the VW squeeze was reached when the demand for shares became surpassed by the supply of those shares. Here, demand represents 12.8% of their stock which must be available to close the short position. With only 1% of shares available, this guaranteed a squeeze until the number of shares available to trade could satisfy the remaining short interest.
+
+When a company has a short position with more than 100% of total shares outstanding, the preceding argument is thrown out the window. Supply cannot surpass demand because the company can only issue 100% of itself at any given time. Therefore, the additional 40% could only be explained by multiple people claiming ownership of the same share... Surely this is a mistake.. right? I thought this level of short selling was impossible..
+
+..Until I saw the number of short selling violations issued by FINRA..
+
+As we go through these FINRA reports, there are a few things to keep in mind:
+
+1.  FINRA is not a part of the government. FINRA is a non-profit entity with [regulatory powers set by congress](https://www.finra.org/about). This makes FINRA the largest self-regulatory organization (SRO) in the United States. The SEC is responsible for setting rules which protect individual investors; FINRA is responsible for overseeing most of the brokers (collectively referred to as members) in the US. As an SRO, FINRA sets the rules by which their members must comply- they are not directly regulated by the SEC
+
+2.  FINRA investigates cases at their own pace. When looking at the "*Date Initiated"* on their reports, it is not synonymous with "*date of occurrence".* Many times, FINRA will not say when a problem occurred, just resolved. It can be YEARS after the initial occurrence. The [DTC participant report](https://www.dtcc.com/-/media/Files/Downloads/client-center/DTC/alpha.pdf) is littered with cases that were initiated in 2019 but occurred in 2015, etc. Many of the violations occurring today will take years to discover
+
+3.  FINRA can issue a violation for each occurrence using a 1:1 format. When it comes to violations like short selling, however, these "occurrences" can last months or even years. When this happens, FINRA issues a violation for multiple occurrences using a 1:MANY format. I discussed this event in [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/) where one violation represented FOUR YEARS of market f*ckery. What's sh*tty is that FINRA doesn't tell you which violations are which. You have to read each line and see if they mention a date range of occurrence within each record. If they don't, you must assume it was for one event... BRUTAL
+
+4.  FINRA's investment portfolio is held by the same entities they are issuing violations to... Let that sink in for a minute
+
+____________________________________________________________________________________________________________
+
+2. State your case...
+
+Can you think of a reason why short sellers would want to understate their short positions? Put yourself in their situation and imagine you're running a hedge fund...
+
+You operate in a self-regulated (SRO) environment and your records are basically private. If the SEC asks you to justify suspicious behavior, you really don't have to provide it. The worst that could happen is a slap on the wrist. I wrote about this EXACT same thing in [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/). They received a cease-and-desist order from the SEC on 12/10/2018 for failing to submit complete and accurate records. This 'occurred' from November 2012 through April 2016 and contained deficient information for over 80,000,000 trades. Their punishment... $3,500,000... So why even bother keeping an honest ledger?
+
+Now, suppose you short a bunch of shares into the market. When you report this to FINRA, they require you to mark the transaction with a short sale indicator. In doing so, FINRA builds a paper trail to your short selling activity.
+
+However... if you omit this indicator, FINRA can't distinguish that transaction from a long sale. Who else would there be to hold you accountable for covering your position? This is especially true for self-clearing organizations like Citadel because there are less parties involved to hold you accountable with recordkeeping. If FINRA thinks you physically owned those shares and sold them (long sale), they have no reason to revisit that transaction in the future... You could literally pocket the cash and dump the commitment to cover.
+
+Another very important advantage is that it allows short sellers to artificially increase the supply of shares while understating the outstanding short interest on that security. The supply of shares being sold will drive down the price, while the short interest on the stock remains the same.
+
+So.. aside from paying a fine, how could you possibly lose by "forgetting" to mark that trade with a short sale indicator? It would seem the system almost incentivizes this type of behavior.
+
+I combed through the [DTC participant report](https://www.dtcc.com/-/media/Files/Downloads/client-center/DTC/alpha.pdf) and found enough dirt to fill the empty chasm that is Ken Griffin's soul. Take a guess at what their most common short selling violation is.. I'm going to assume you said "FAILING TO PROPERLY MARK A SHORT SALE TRANSACTION".
+
+For the record, I just want to say I called this in March when I wrote [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/). Citadel has one of the highest concentrations of short selling violations in their FINRA report. At the time, I didn't fully understand the consequences of this violation... After seeing how many participants received the same penalty, it finally made sense.
+
+There are roughly 240 participant account names on the DTC's list. Sh*t you not, I looked at every short selling violation that was published on [Brokercheck.finra.org](https://brokercheck.finra.org/). To be fair, I eliminated participants with only 1 or 2 violations related to short selling. There were PLENTY of bigger fish to fry.
+
+I literally picked the first participant at the top of the list and found three violations for short selling.
+
+*cracks knuckles*
+
+[ABN AMRO Clearing Chicago LLC](https://files.brokercheck.finra.org/firm/firm_14020.pdf) (AACC) is the 3rd largest bank in the Netherlands. They got popped for three short selling violations, one of which included a failure-to-deliver. In total, they have 78 violations from FINRA. Several of these are severe compared to their violations for short selling. However, the short selling violations revealed a MUCH bigger story:
+
+[![r/Superstonk - House of Cards - Part 2](https://preview.redd.it/3t5ylyfz5k171.jpg?width=1055&format=pjpg&auto=webp&s=f961999d09eeee7fbe42364700cbc727869f9e3f)](https://preview.redd.it/3t5ylyfz5k171.jpg?width=1055&format=pjpg&auto=webp&s=f961999d09eeee7fbe42364700cbc727869f9e3f)
+
+So... ABN AMRO submitted an inaccurate short interest position to the NYSE and FINRA and lacked the proper supervisory systems to comply with... practically everything...
+
+In 2014, AMRO forked over $95,000 to settle this and didn't even say they were sorry.
+
+In these situations, it's easy to think *"meh, could have been a fluke event"*. So I took a closer look and found violations by the same participants which made it much harder to argue their case of sheer negligence. Here are a couple for AMRO:
+
+[![r/Superstonk - House of Cards - Part 2](https://preview.redd.it/vir299076k171.jpg?width=1079&format=pjpg&auto=webp&s=e17e6ceff040a4be0113c1bc4e435f29fb5ce0a6)](https://preview.redd.it/vir299076k171.jpg?width=1079&format=pjpg&auto=webp&s=e17e6ceff040a4be0113c1bc4e435f29fb5ce0a6)
+
+ABN AMRO got slapped with a $1,000,000 fine for understating capital requirements, failing to maintain accurate books, and failing to supervise employees. If you mess up once or twice but end up fixing the problem- GREAT. When your primary business is to clear trades and you fail THIS bad, there is a much bigger problem going on. It gets hard to defend this as an accident when every stage of the trade recording process is fundamentally flawed. The following screenshot came from the same violation:
+
+[![r/Superstonk - House of Cards - Part 2](https://preview.redd.it/mnpm2gz96k171.jpg?width=733&format=pjpg&auto=webp&s=7e5c66293566b7ca2329f20bcdb634c35395943f)](https://preview.redd.it/mnpm2gz96k171.jpg?width=733&format=pjpg&auto=webp&s=7e5c66293566b7ca2329f20bcdb634c35395943f)
+
+[Warehouse receipts](https://www.investopedia.com/terms/w/warehousereceipt.asp#:~:text=A%20warehouse%20receipt%20is%20used,well%20as%20provide%20inventory%20management.) are like the receipts you get after buying lumber online. You can print these out and take them to Home-Depot, where you exchange them for the ACTUAL lumber in the store. Instead of trading the actual goods, you can trade a warehouse receipt instead... so yeah... since this ONE record allowed AMRO to meet their customer's margin requirement, it seems EXTREMELY suspicious that they didn't appropriately remove it once they were withdrawn.
+
+Do I think this was an accident? F*ck no. Because FINRA reported them 8 years later for doing the SAME F*CKING THING:
+
+[![r/Superstonk - House of Cards - Part 2](https://preview.redd.it/sv0v5igw6k171.jpg?width=1071&format=pjpg&auto=webp&s=02f17082135c702fad6bbc064073ae031151cee7)](https://preview.redd.it/sv0v5igw6k171.jpg?width=1071&format=pjpg&auto=webp&s=02f17082135c702fad6bbc064073ae031151cee7)
+
+Once again, AMRO got caught understating their margin requirements. Last time, they used the value of withdrawn warehouse receipts to meet their margin requirements. Here, they're using securities which weren't eligible for margin to meet their margin requirements..
+
+You can paint apple orange, but it's still an apple..
+
+The bullsh*t I read about in these reports doesn't really shock me anymore. It's actually the opposite.. You begin to *expect* bigger fines as they set higher benchmarks for misconduct. When I find a case like AMRO, I'll usually put more time into it because certain citations represent puzzle pieces. Once you find enough pieces, you can see the bigger picture. So believe me when I say I was genuinely shocked by the [detail report](https://www.finra.org/sites/default/files/fda_documents/2016049875801%20ABN%20AMRO%20Clearing%20Chicago%20LLC%20CRD%2014020%20AWC%20va%20%282019-1572740384682%29.pdf) on this case...
+
+[![r/Superstonk - House of Cards - Part 2](https://preview.redd.it/4lgyti547k171.jpg?width=844&format=pjpg&auto=webp&s=633a928d28caef8cc6719873532aef60f271cefb)](https://preview.redd.it/4lgyti547k171.jpg?width=844&format=pjpg&auto=webp&s=633a928d28caef8cc6719873532aef60f271cefb)
+
+This has been going on for 8 F*CKING YEARS!?
+
+Without a doubt, this is a great example of a violation where the misconduct supposedly *ended* in 2015 but took another 4 years for FINRA to publish the d*mn report. If my math is correct, the 8 year "relevant period" plus the 4 years FINRA spent... I don't know... reviewing?... yields a total of 12 years. In other words, from the time this problem started to the time it was publicized by FINRA, the kids in 1st grade had graduated high school...
+
+Does anyone else think these self-regulatory organizations (SROs) are doing a terrible job self-regulating...? How we can trust these situations are appropriately monitored if it takes 12 years for a sh*t blossom to bloom?
+
+...OH! I almost forgot... After understating their margin requirements in 22 accounts for over 8 years, ABN AMRO paid a $150,000 fine to settle the dust...
+
+____________________________________________________________________________________________________
+
+I know that was a sh*t load of information so let me summarize it for you:
+
+One of the most common citations occurs when a firm "accidently" marks a short sale as long, or misreports short interest positions to FINRA. When a short sale occurs, that transaction should be marked with a short sale indicator. Despite this, many participants do it to avoid the borrow requirements set by Regulation SHO. If they mark a short sale as long, they are not required to locate a borrow because FINRA doesn't know it's a short sale.
+
+This is why so many of these FINRA violations include a statement about the broker failing to locate a borrow along with the failure to mark a short sale indicator on the transaction. It literally means the broker was naked short selling a stock and telling FINRA they physically owned that share..
+
+Suddenly, a "small" violation had much bigger implications. The number of short shares that have been excluded from the short interest calculation is directly related to these violations... and there are HUNDREDS of them. Who knows how many companies have under reported short interest positions..
+
+To be clear, I did NOT choose them based on the amount of 'dirt' they had. AMRO's violations were like grains of sand on a beach and It's going to take A LOT of dirt to fill the bottomless pit that is Ken Griffin's soul. Frankly, ABN AMRO wouldn't get us there with 10,000 FINRA violations. So without further ado, let's get dirty..
+
+____________________________________________________________________________________________________
+
+2. Call em' out...
+
+When FINRA publishes one of their reports, the granular details like numbers and dates are often left out. This makes it impossible to determine how systematic a particular issue might be.
+
+For example, if you know that *"XYZ failed to comply with FINRA's short interest reporting requirements"* your only conclusion is that the violation occurred. However, if you know that *"XYZ failed to comply with FINRA's short interest reporting requirements on 15,000 transactions during 2020"* you can start investigating the magnitude of that violation. If XYZ only completed 100,000 transactions in 2020, it means 15% of their transactions failed to meet requirements. This represents a major systematic risk to XYZ and the parties it conducts business with.
+
+I spent some time analyzing [Apex Clearing Corporation](https://files.brokercheck.finra.org/firm/firm_13071.pdf) after I left ABN AMRO. Apex is 8th on the list and the 2nd participant I found with an evident short selling problem.
+
+In 2019, FINRA initiated a case against Apex for doing the same sh*t as ABN AMRO. However, the magnitude of this violation really put things into perspective: I got a small taste of how f*cked this house of cards truly is..
+
+[![r/Superstonk - House of Cards - Part 2](https://preview.redd.it/u1b4zh6m7k171.jpg?width=1076&format=pjpg&auto=webp&s=0f14f5fa49e73dad79ff605464fc1c64fa73f5bd)](https://preview.redd.it/u1b4zh6m7k171.jpg?width=1076&format=pjpg&auto=webp&s=0f14f5fa49e73dad79ff605464fc1c64fa73f5bd)
+
+This is practically a template of the first ABN AMRO violation we discussed. To see the difference, we need to look at their [letter of Acceptance, Waiver and Consent](https://www.finra.org/sites/default/files/fda_documents/2016049448301%20Apex%20Clearing%20Corporation%20CRD%2013071%20AWC%20va%20%282019-1573777189509%29.pdf) (AWC)..
+
+[![r/Superstonk - House of Cards - Part 2](https://preview.redd.it/zaiywobp7k171.jpg?width=938&format=pjpg&auto=webp&s=7fe2d2323e757efcdedf2ab22aa1ff34e10d7d55)](https://preview.redd.it/zaiywobp7k171.jpg?width=938&format=pjpg&auto=webp&s=7fe2d2323e757efcdedf2ab22aa1ff34e10d7d55)
+
+Let's break this down step-by-step...
+
+Apex had an issue for 47 months where certain customers recorded their short positions in an account which was NOT being sent to FINRA. It only takes a few wrinkles on the brain to realize this is a problem. The sample data tells us just how bad that problem is..
+
+When you see the term "*settlement days",* think "[T+2](https://www.schwab.com/resource-center/insights/content/stock-settlement-why-you-need-to-understand-t2-timeline#:~:text=the%20seller's%20account.-,When%20does%20settlement%20occur%3F,would%20typically%20settle%20on%20Wednesday.)". Apex follows the T+2 settlement period for both [cash accounts and margin accounts](https://www.apexclearing.com/wp-content/uploads/2020/01/Apex-Customer-Information-Brochure-2019.pdf) which means the trade *should* clear 2 days after the original trade date. When you buy stock on a Monday, it should settle by Wednesday.
+
+Ok.. quick maff...
+
+There are roughly [252 trading days](https://therobusttrader.com/how-many-trading-days-are-there-in-a-year/) in one year after removing weekends and holidays. Throughout the 47 month "review period", we can safely assume that Apex had roughly 987 ((252/ 12) * 47) settlement dates...
+
+In other words: 256 misstated reports over 47 months is more than 1 misstatement / week for nearly 4 years. Tell me again how this is *trivial?*
+
+The wording of the "sample settlement" section is a bit ambiguous... It doesn't clarify if those were the only 2 settlement dates they sampled, or if they were the only settlement dates with reportable issues. Honestly, I would be shocked if it was the latter because auditors don't examine every record, but I can't be certain...
+
+Anyway... FINRA discovered 256 short interest positions, consisting of 481,195 shares, were *incorrectly* excluded from their short interest report. In addition, they understated the share count by 879,321 in 130 separate short interest positions. Together, this makes 1,360,516 shares that were excluded from the short interest calculation. When you realize nearly 1.5 million 'excluded' shares were discovered in just 2 settlement periods and there were almost 1,000 dates to choose from, it seriously dilates the imagination...
+
+Once again... FINRA wiped the slate clean for just $140,000...
+
+I want to talk about one last thing before we jump to the next section. Did you happen to notice the different account types that Apex discussed in their [letter of Acceptance, Waiver and Consent](https://www.finra.org/sites/default/files/fda_documents/2016049448301%20Apex%20Clearing%20Corporation%20CRD%2013071%20AWC%20va%20%282019-1573777189509%29.pdf) ? They specifically instructed their customers to book short positions into a TYPE 1 (CASH) account, or TYPE 5 (SHORT MARGIN) account. A short margin account is just a margin account that holds short positions. The margin requirement for short positions are more strict than regular margin accounts, so I can see the advantage in separating them.
+
+In the [AMA with Wes Christian](https://www.youtube.com/watch?v=2rJujnpKiqM) *(starting at 7:30)*, he specifically discussed how a broker-dealer's margin account is used to locate shares for short sellers. However, the margin account contains shares that were previously pledged to another party. Given the lack of oversight in securities lending, the problem keeps compounding each time a new borrower claims ownership of that share.
+
+Now think back to the situation with Apex..
+
+They asked their customers to book short positions to a short-margin account or a cash account. The user agreement with a margin account allows Apex to continue lending those securities at any time. As discussed with Dr. T and Carl Hagberg, the broker collects interest for lending your margin shares and doesn't pay you anything in return. When multiple locates are authorized for the same share, the broker collects multiple lending fees on the same share.
+
+In contrast, the cash account falls under the protection of [SEA 15c3-3](https://www.finra.org/sites/default/files/SEA.Rule_.15c3-3.pdf) and consists of shares that have not been leveraged- or lent- like the margin-short account. According to Wes *(starting at 8:30)*, these shares are segregated and cannot be touched. The broker cannot encumber-or restrict- them in any way. However, according to Wes, this is currently happening. He also explained how Canada has legalized this and currently allows broker-dealers to short sell your cash account shares against you.
+
+____________________________________________________________________________________________________
+
+Alright.... I'll stop beating the dead horse regarding short sale indicators & inaccurate submissions of short interest positions. Given the volume of citations we haven't discussed, I'll summarize some of my findings, below.
+
+Keep in mind these are ONLY for "FAILURE TO REPORT SHORT INTEREST POSITIONS" or "FAILURE TO INDICATE A SHORT SALE MODIFIER". If the violations contain additional information, it's because that citation actually listed additional information. It does NOT represent an all-inclusive list of short selling violations for these participants.
+
+...You wanted to know how systematic this problem is, so here you go... *(EACH BROKER-DEALER NAME IS HYPERLINKED TO THEIR FINRA REPORT)*
+
+1.  [Barclays](https://files.brokercheck.finra.org/firm/firm_19714.pdf) | Disclosure 36 -- "SUBMITTED 86 SHORT INTEREST POSITIONS TOTALING 41,100,154 SHARES WHEN THE ACTUAL SHORT INTEREST POSITION WAS 44,535,151 SHARES.. FAILED TO REPORT 8 SHORT INTEREST POSITIONS TOTALING 1,110,420 SHARES"
+
+a. $10,000 FINE
+
+2\. [Barclays](https://files.brokercheck.finra.org/firm/firm_19714.pdf) | Disclosure 54 -- "SUBMITTED AN INACCURATE SHORT INTEREST POSITION TO FINRA AND FAILED TO REPORT ITS SHORT INTEREST POSITIONS IN 835 POSITIONS TOTALING 87,562,328 SHARES"
+
+a. $155,000 FINE
+
+3\. [BMO Capital Markets Corp](https://files.brokercheck.finra.org/firm/firm_16686.pdf) | Disclosure 23 -- "SUBMITTED SHORT INTEREST POSITIONS TO FINRA THAT WERE INCORRECT AND FAILED TO REPORT TO FINRA ITS SHORT INTEREST POSITIONS TOTALING OVER 72 MILLION SHARES FOR 11 MONTHS"
+
+a. $90,000 FINE
+
+4\. [BNP Paribas Securities Corp](https://files.brokercheck.finra.org/firm/firm_15794.pdf) | Disclosure 53 -- "FAILED TO REPORT TO FINRA ITS SHORT INTEREST IN 2,509 POSITIONS TOTALING 6,051,974 SHARES"
+
+a. $30,000 FINE
+
+5\. [BNP Paribas Securities Corp](https://files.brokercheck.finra.org/firm/firm_15794.pdf) | Disclosure 9 -- "ON 35 OCCASIONS OVER A FOUR-MONTH PERIOD, A HEDGE FUND SUBMITTED SALE ORDERS MARKED "LONG" TO BNP FOR CLEARING. FOR EACH OF THOSE "LONG" SALES, ON THE MORNING OF SETTLEMENT, THE HEDGE FUND DID NOT HAVE THE SHARES IN IT'S BNP ACCOUNT TO COVER THE SALE ORDER. IN ADDITION, BNP WAS ROUTINELY NOTIFIED THAT THE HEDGE FUND WOULD NOT BE ABLE TO COVER. NEVERTHELESS, WHEN EACH SETTLEMENT DATE ARRIVED AND THE HEDGE FUND WAS UNABLE TO COVER, BNP LOANED THE SHARES TO THE HEDGE FUND. IN TOTAL, BNP LOANED MORE THAN 8,000,000 SHARES TO COVER THESE PURPORTED "LONG" SALES"
+
+a. $250,000 FINE
+
+6\. [Cantor Fitzgerald & Co](https://files.brokercheck.finra.org/firm/firm_134.pdf) | Disclosure 1 - (literally came out on 5/6/2021) -- "THE FIRM SUBMITTED INACCURATE SHORT INTEREST POSITIONS TO FINRA. THE FIRM OVERREPORTED NEARLY [55,000,000 SHORT SHARES](https://www.finra.org/sites/default/files/fda_documents/2018059464001%20Cantor%20Fitzgerald%20%26%20Co.%20CRD%20134%20AWC%20va.pdf) WHICH WERE CUSTODIED WITH AND ALREADY REPORTED BY ITS CLEARING FIRM, WITH WHICH CANTOR MAINTAINS A FULLY DISCLOSED CLEARING AGREEMENT"
+
+a. $250,000 FINE
+
+7\. [Cantor Fitzgerald & Co](https://files.brokercheck.finra.org/firm/firm_134.pdf) | Disclosure 31 - "...THE FIRM EXECUTED NUMEROUS SHORT SALE ORDERS AND FAILED TO PROPERLY MARK THE ORDERS AS SHORT... THE FIRM, ON NUMEROUS OCCASIONS, ACCEPTED SHORT SALE ORDERS IN AN EQUITY SECURITY FROM ANOTHER PERSON, OR EFFECTED A SHORT SALE FROM ITS OWN ACCOUNT WITHOUT BORROWING THE SECURITY..."
+
+a. $53,500 FINE
+
+8\. [Cantor Fitzgerald & Co](https://files.brokercheck.finra.org/firm/firm_134.pdf) | Disclosure 33 - "...EXECUTED SHORT SALE ORDERS AND FAILED TO PROPERLY MARK THE ORDERS AS SHORT. THE FIRM HAD FAIL-TO-DELIVER POSITIONS AT A REGISTERED CLEARING AGENCY IN THRESHOLD SECURITIES FOR 13 CONSECUTIVE SETTLEMENT DAYS... FAILED TO IMMEDIATELY CLOSE OUT FTD POSITIONS... ACCEPTED SHORT SALE ORDERS FROM ANOTHER PERSON, OR EFFECTED A SHORT SALE FROM ITS OWN ACCOUNT, WITHOUT BORROWING THE SECURITY OR HAVING REASONABLE GROUNDS TO BELIEVE THAT THE SECURITY COULD BE BORROWED..."
+
+a. $125,000 FINE
+
+9\. [Canaccord Genuity Corp](https://files.brokercheck.finra.org/firm/firm_1020.pdf) | Disclosure 17 - "THE FIRM EXECUTED SALE TRANSACTIONS AND FAILED TO REPORT EACH OF THESE TRANSACTIONS TO THE FINRA/NASDAQ TRADE REPORTING FACILITY AS SHORT"
+
+a. $57,500 FINE
+
+10\. [Canaccord Genuity Corp](https://files.brokercheck.finra.org/firm/firm_1020.pdf) | Disclosure 20 - "THE FIRM EXECUTED SHORT SALE ORDERS AND FAILED TO PROPERLY MARK THE ORDERS AS SHORT"
+
+a. $27,500 FINE
+
+11\. [Canaccord Genuity Corp](https://files.brokercheck.finra.org/firm/firm_1020.pdf) | Disclosure 31 - "...SUBMITTED TO NASD MONTHLY SHORT INTEREST POSITION REPORTS THAT WERE INACCURATE"
+
+a. $85,000 FINE
+
+12\. Citadel Securities LLC | [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/) -- LITERALLY ALL I TALK ABOUT IN THAT POST. GO READ IT
+
+13\. [Citigroup Global Markets](https://files.brokercheck.finra.org/firm/firm_7059.pdf) | Disclosure 10 -- "THE FIRMS TRADING PLATFORM FAILED TO RECOGNIZE THAT THE FIRM WAS SELLING SHORT WHEN IT WAS ACTING AS THE CONTRA PARTY TO A CUSTOMER TRADE. AS A RESULT, THE FIRM ERRONEOUSLY REPORTED SHORT SALES TO A FINRA TRADE REPORTING FACILITY AS LONG SALES... EFFECTING SHORT SALES FROM ITS OWN ACCOUNT WITHOUT BORROWING THE SECURITY..."
+
+a. $225,000 FINE
+
+14\. [Citigroup Global Markets](https://files.brokercheck.finra.org/firm/firm_7059.pdf) | Disclosure 59 -- "...THE FIRM RECORDED 203,653 SHORT SALE EXECUTIONS ON ITS BOOKS AND RECORDS AS LONG SALES, SUBMITTED INACCURATE ORDER ORIGINATION CODES AND ACCOUNT TYPE CODES TO THE AUDIT TRAIL SYSTEM FOR APPROXIMATELY 2,775,338 ORDERS... "
+
+a. $300,000 FINE
+
+15\. [Citigroup Global Markets](https://files.brokercheck.finra.org/firm/firm_7059.pdf) | Disclosure 76 -- "...FAILED TO PROPERLY MARK APPROXIMATELY 9,717,875 SALE ORDERS AS SHORT SALES... FINDINGS ALSO ESTIMATED THAT THE FIRM ENTERED 55 MILLION ORDERS INTO THE NASDAQ MARKET CENTER THAT IT FAILED TO CORRECTLY INDICATE AS SHORT SALES..."
+
+a. $2,250,000 FINE
+
+16\. [Cowen and Company LLC](https://files.brokercheck.finra.org/firm/firm_7616.pdf) | Several Disclosures -- almost every other disclosure is for failing to mark a sale with the appropriate indicator, including short AND long sale indicators
+
+17\. [Credit Suisse Securities LLC](https://files.brokercheck.finra.org/firm/firm_816.pdf) | Disclosure 34 -- "NEW ORDER REPORTS WERE INACCURATELY ENTERED INTO ORDER AUDIT TRAIL SYSTEM (OATS) AS LONG SALES BUT WERE TRADE REPORTED WITH A SHORT SALE INDICATOR"
+
+a. $50,000 FINE
+
+18\. [Credit Suisse Securities LLC](https://files.brokercheck.finra.org/firm/firm_816.pdf) | Disclosure 95 -- "BETWEEN SEPTEMBER 2006 AND JUNE 2008, CREDIT SUISSE FAILED TO SUBMIT ACCURATE PERIODIC REPORTS WITH RESPECT TO SHORT POSITIONS..."
+
+a. $40,000 FINE
+
+19\. [Deutsche Bank Securities INC.](https://files.brokercheck.finra.org/firm/firm_2525.pdf) | Disclosure 50 -- "THE FIRM FAILED TO REPORT SHORT INTEREST POSITIONS IN DUALLY-LISTED SECURITIES"
+
+a. $200,000 FINE
+
+20\. [Deutsche Bank Securities INC.](https://files.brokercheck.finra.org/firm/firm_2525.pdf) | Disclosure 52 -- "THE FIRM... EXPERIENCED MULTIPLE PROBLEMS WITH ITS BLUE SHEET SYSTEM THAT CAUSED IT TO SUBMIT INACCURATE BLUE SHEETS TO THE SEC AND FINRA... INCORRECTLY REPORTED LONG ON ITS BLUE SHEET TRANSACTIONS WHEN CERTAIN TRANSACTIONS SHOULD HAVE BEEN MARKED SHORT"
+
+a. $6,000,000 FINE (SEVERAL OTHER ISSUES REPORTED IN ADDITION TO SHORTS)
+
+21\. [Deutsche Bank Securities INC.](https://files.brokercheck.finra.org/firm/firm_2525.pdf) | Disclosure 58 -- "BETWEEN JANUARY 2005 AND CONTINUING THROUGH NOVEMBER 2015, THE FIRM IMPROPERLY INCLUDED THE AGGREGATION OF NET POSITIONS IN CERTAIN SECURITIES OF A NON-US BROKER AFFILIATE... IN ADDITION... DURING THE PERIOD BETWEEN APRIL 2004 AND SEPTEMBER 2012, THE FIRM INAPPROPRIATELY REPORTED CERTAIN SHORT INTEREST POSITIONS ON A NET, INSTEAD OF GROSS, BASIS.."
+
+a. $1,400,000 FINE
+
+22\. [Goldman Sachs & Co. LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf) | Disclosure 32 -- "THE FIRM REPORTED SHORT SALE TRANSACTIONS TO FINRA TRADE REPORTING FACILITY WITHOUT THE REQUIRED SHORT SALE MODIFIER"
+
+a. $260,000 FINE (SEVERAL OTHER ISSUES REPORTED IN ADDITION TO SHORTS)
+
+23\. [Goldman Sachs & Co. LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf) | Disclosure 54 -- "FAILED TO ACCURATELY APPEND THE SHORT SALE INDICATOR TO FINRA/NASDAQ TRADE REPORTING FACILITY REPORTS... INACCURATELY MARKED SELL TRANSACTIONS ON ITS TRADING LEDGER"
+
+a. $55,000 FINE
+
+24\. [Goldman Sachs & Co. LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf) | Disclosure 63 -- "...SUBMITTED TO FINRA AND THE SEC BLUE SHEETS THAT INACCURATELY REPORTED CERTAIN SHORT SALE TRANSACTIONS AS LONG SALE TRANSACTIONS WITH RESPECT TO THE FIRM SIDE OF CUSTOMER FACILITATION TRADES... THE FIRM REPORTED SHORT SALES AS LONG SALES ON ITS BLUE SHEETS WHEN THE TRADING DESK USED A PARTICULAR MIDDLE OFFICE SYSTEM..."
+
+a. $1,000,000 FINE
+
+25\. [Goldman Sachs & Co. LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf) | Disclosure 150 -- "GOLDMAN SACHS & CO. FAILED TO REPORT SHORT INTEREST POSITIONS FOR FOREIGN SECURITIES AND NUMEROUS SHARES ONE MONTH... THE FIRM REPORTED SHORT INTEREST POSITIONS IN SECURITIES TOTALING SEVERAL MILLION SHARES EACH TIME WHEN THE ACTUAL SHORT INTEREST POSITIONS IN THE SECURITIES WERE ZERO SHARES... ACCEPTING A SHORT SALE ORDER IN AN EQUITY SECURITY FROM ANOTHER PERSON, OR EFFECTED A SHORT SALE FROM ITS OWN ACCOUNT, WITHOUT BORROWING THE SECURITY OR BELIEVING THE SECURITY COULD BE BORROWED ON THE DATE OF DELIVERY..."
+
+a. $120,000 FINE
+
+26\. [Goldman Sachs & Co. LLC](https://files.brokercheck.finra.org/firm/firm_361.pdf) | Disclosure 167 -- "...THE FIRM FAILED TO REPORT TO THE NMC THE CORRECT SYMBOL INDICATING THAT THE TRANSACTION WAS A SHORT SALE FOR TRANSACTIONS IN REPORTABLE SECURITIES..."
+
+a. $600,000 FINE (SEVERAL OTHER ISSUES REPORTED IN ADDITION TO SHORTS)
+
+27\. [HSBC Securities (USA) INC.](https://files.brokercheck.finra.org/firm/firm_19585.pdf) | Disclosure 26 -- "FIRM EXECUTED SHORT SALE TRANSACTIONS AND FAILED TO MARK THEM AS SHORT... HSBC SECURITIES HAD A FAIL-TO-DELIVER SECURITY FOR 13 CONSECUTIVE SETTLEMENT DAYS AND FAILED TO IMMEDIATELY CLOSE OUT THE FTD POSITION... THE FIRM CONTINUED TO HAVE A FTD IN THE SECURITY AT A CLEARING AGENCY ON 79 ADDITIONAL SETTLEMENT DAYS..."
+
+a. $65,000 FINE
+
+____________________________________________________________________________________________________________
+
+I'm going to stop at 'H' because I'm tired of writing. Hopefully, you all understand the point so far. We're only 8 letters into the alphabet and have successfully buried Ken to his waist.
+
+The system that is used to mark the proper transaction type (sell, buy, short sell, short sell exempt, etc.) is obviously broken... There, I said it.. the system is INDUBITABLY, UNDOUBTEDLY, INEVITABLY F*CKED..
+
+Regardless of the cause- fraud or negligence- there are too many firms failing to accomplish a seemingly simple task. The consequences of which are creating far more shares than we can imagine. It's a gigantic domino effect. If you fail to properly mark 1,000,000 short shares and a year goes by without catching the problem, it's already too late. They're like the f*cking replicators from Stargate..
+
+In each of the examples listed above, the short interest on the stock was understated by the number of shares excluded... and that was just a handful..
+
+Knowing this, how can someone look at the evidence and say it's *trivial....?*
+
+No one really knows HOW systematic this issue is because it is so deeply incorporated in the market that it has BECOME the system itself. Therefore, there is obviously something much deeper going on, here.. How does one argue against the severity of these problems after reading this? There are FAR too many things that don't make sense and FAR too many people turning a blind eye..
+
+The only conclusion I keep coming back to is that the people with money know what's going on and are desperately trying to keep it under wraps..
+
+..So.... In an effort to prove this, I looked for violations that showed their desperation to protect this f*cked up system.
+
+..Buckle up..
+
+____________________________________________________________________________________________________________
+
+*HOUSE OF CARDS - PART 3 (I'm uploading it now; will link ASAP)*

01-Must-Read/House-of-Cards-by-atobitt/2021-05-26-House-of-Cards-Part-III.md

@@ -0,0 +1,140 @@
+House of Cards - Part 3
+=======================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/atobitt](https://www.reddit.com/user/atobitt/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nlwqyv/house_of_cards_part_3/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+*Prerequisite DD:*
+
+1.  [Citadel Has No Clothes](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/)
+
+2.  [The EVERYTHING Short](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/)
+
+3.  [The House of Cards -- Part 1](https://www.reddit.com/r/Superstonk/comments/mvk5dv/a_house_of_cards_part_1/)
+
+4.  [The House of Cards - Part 2](https://www.reddit.com/r/Superstonk/comments/nlwaxv/house_of_cards_part_2/)
+
+____________________________________________________________________________________________________________
+
+TL;DR- No freaking way I can do that.
+
+_____________________________________________________________________________________________________________________
+
+Continuing from HOC Part II...
+
+4. Slimy...
+
+If you watched the [AMA with Wes Christian](https://www.youtube.com/watch?v=2rJujnpKiqM), he talks about the number of occurrences where the actual short interest is severely understated based on the data his firm obtained for legal proceedings. According to his numbers, in most cases the short interest is 50% - 150% MORE than what is reported by the SEC *(starting at 14:30).*
+
+The objective isn't to address the issue: it's to keep the issue hidden. Firms that underreport their short interest are gaming the system by taking advantage of how the short interest calculation is done. When the SEC relies on reports that broker-dealers provide, and FINRA takes YEARS to reveal the lies within those reports, the broker-dealer can lie without immediately facing the consequences. It allows these firms to operate in a high-risk environment without exposing just HOW big their risk-appetite is.
+
+Another example that Wes mentioned was [Merrill Lynch](https://www.sec.gov/news/pressrelease/2016-128.html). Merrill was fined [$415,000,000](https://files.brokercheck.finra.org/firm/firm_16139.pdf) *(violation 3)* in 2016 for using securities held in their customer's accounts to cover their own trades. Check out this screenshot I took from that case:
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/v9625j8wek171.jpg?width=1115&format=pjpg&auto=webp&s=85d43bc351fbda75e347bd33a1a550b67dda970e)](https://preview.redd.it/v9625j8wek171.jpg?width=1115&format=pjpg&auto=webp&s=85d43bc351fbda75e347bd33a1a550b67dda970e)
+
+Remember when we mentioned [SEA 15c3-3](https://www.finra.org/sites/default/files/SEA.Rule_.15c3-3.pdf) in the case with Apex? They were asking customers to book short positions to either a cash account or a short margin account. [SEA 15c3-3](https://www.finra.org/sites/default/files/SEA.Rule_.15c3-3.pdf) protects those customers from allowing brokers to lend out the securities within their cash accounts...
+
+Well Merrill Lynch knocked that one right out of the f*cking park...
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/s3zok5wyek171.jpg?width=1129&format=pjpg&auto=webp&s=815e5344912234ceba846dc0d45c8b8b488b82c4)](https://preview.redd.it/s3zok5wyek171.jpg?width=1129&format=pjpg&auto=webp&s=815e5344912234ceba846dc0d45c8b8b488b82c4)
+
+Merrill made it seem like the required deposit in their customer reserve account was much lower than it truly was. They wouldn't have been able to use that cash if it reduced the amount below the minimum capital requirement, so they found a way to fudge the numbers. In doing so, they managed to prevent a CODE RED while reaping the benefits of a high-risk 'opportunity'. Should Merrill have filed bankruptcy during that time, those customers would have been completely blindsided.
+
+In the case of short selling, the *true* exposure of short interest is unknown... and I'm not just talking about the short sale indicator. When a firm fails to deliver securities that were sold short, there's a pretty good indication that they've exposed themselves to a bit of a problem.. Now imagine a case where the FTDs start piling up and they STILL continue to short sell that same security.. think I'm joking?
+
+Check out the [Royal Bank of Canada](https://files.brokercheck.finra.org/firm/firm_31194.pdf):
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/u6yl6tj2fk171.png?width=812&format=png&auto=webp&s=1e44cc507247db1e28c00a213f90054b9abdaa6a)](https://preview.redd.it/u6yl6tj2fk171.png?width=812&format=png&auto=webp&s=1e44cc507247db1e28c00a213f90054b9abdaa6a)
+
+Again... I was pretty shocked at that one. However, nothing rang-the-bell quite like this one from [Goldman Sachs](https://files.brokercheck.finra.org/firm/firm_361.pdf):
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/5f408er6fk171.png?width=1031&format=png&auto=webp&s=38b9ad83d2a07360af5b5cd99d834a8771b66c93)](https://preview.redd.it/5f408er6fk171.png?width=1031&format=png&auto=webp&s=38b9ad83d2a07360af5b5cd99d834a8771b66c93)
+
+Goldman had 68 occasions in 4 months where they didn't close a failure-to-deliver... In 45 occasions, they CONTINUED to accept customer short sale orders in securities which it had an active failure-to-deliver...
+
+When a firm is really starting to sweat, they pull certain tricks out of their ass to quell the situation. Again, this is nothing but smoke and mirrors because that's all they can really do. Just as Merrill Lynch artificially lowered their customer reserve deposit, other firms make it look like they cover their short positions.
+
+One of the ways they do this is by short selling a SH*T load of shares right before a buy-in... Since we're talking about Goldman Sachs, this seems like a great time to showcase their experience with this..
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/zhf1hr1afk171.png?width=1049&format=png&auto=webp&s=f704c3722ae287480057ce3e01c561a28b77cf4c)](https://preview.redd.it/zhf1hr1afk171.png?width=1049&format=png&auto=webp&s=f704c3722ae287480057ce3e01c561a28b77cf4c)
+
+I promise... It really is as dumb as it sounds...
+
+So the perception here is when Goldman's client has a FTD and they find out a buy-in is coming, the required buy-in would obviously be too extreme for the client to handle.. So they begin to buy those shares while simultaneously shorting AT LEAST the same amount they were required to purchase...
+
+Have you ever failed to repay a loan so you went to another bank and got a loan to cover the first one? Well that's exactly what this is... I know what you're probably thinking... "didn't that just kick the can down the road?". The answer is YES: it didn't actually solve anything..
+
+There's still one more citation that Goldman received which truly represents the pinnacle of *no-sh*ts-given.* After I cover this, I don't know how anyone could argue the systematic risks that exist within the securities lending business.. Check it out:
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/0md200bdfk171.png?width=940&format=png&auto=webp&s=cf5e8310fbcbd73699e3593b2ab5dab418055ab0)](https://preview.redd.it/0md200bdfk171.png?width=940&format=png&auto=webp&s=cf5e8310fbcbd73699e3593b2ab5dab418055ab0)
+
+For 5 years, Goldman relied on a team of 10-12 individuals to locate shares to be used by its clients for short selling. This group was known as the "demand team". Naturally, as the number of requests coming in the door started to increase, it became difficult for the team to properly document all of them. The volume peaked at 20,000 requests PER DAY, but the number of individuals that handled this job stayed the same.
+
+Obviously, this became too much for them to handle so they opted out of the manual process and found another solution- the F3 key....
+
+Yes- the F3 key... This button activated an autofill system which completed 98% of Goldman's orders to locate shares
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/exqzge3gfk171.png?width=964&format=png&auto=webp&s=ed9c8b740974dad01db69460332c56df81a8d768)](https://preview.redd.it/exqzge3gfk171.png?width=964&format=png&auto=webp&s=ed9c8b740974dad01db69460332c56df81a8d768)
+
+The problem with Goldman's autofill system was that it used the number of shares available to borrow at the beginning of that day, which had already been accounted for. After using the auto-locate feature, the demand team didn't even verify the accuracy of the autofill feature or document which method was used to locate the shares for each order... and this happened for 5 years..
+
+Just goes to show how dedicated firms like Goldman Sachs truly are to the smallest of details, you know? Great f*cking work, guys.
+
+By the way, I have to show one of Goldman's short sale indicator violations... It's too good to pass up.
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/5iuhlkcjfk171.png?width=1082&format=png&auto=webp&s=f4e2fa1f106e78b9d282b60c3cee9944e919ea82)](https://preview.redd.it/5iuhlkcjfk171.png?width=1082&format=png&auto=webp&s=f4e2fa1f106e78b9d282b60c3cee9944e919ea82)
+
+At some point, you just have to laugh at these ass clowns... I mean seriously... one violation for a 4 year period involving over 380,000,000 short interest positions... they have plenty of other short interest violations, I just laughed at how the magnitude of this one was summarized by FINRA with 10 lines and roughly 4 minutes... whoever wrote that one must have been late for lunch..
+
+The last thing I'd like to note here is the way in which short sellers use options to "cover" their positions. Wes gave a great overview of this in the AMA *(starting at 6:25)*. Basically, one group will buy puts and another group buys calls. This creates a synthetic share that is only provided if the option is activated. Regardless, short sellers will use that synthetic share to cover their short position and the regulators actually accept it...
+
+However, as Wes points out, most of those options expire without being activated which means the share is never delivered. This expiration can be set months down the road and allows the short seller to keep kicking the can.
+
+I doubt I need to say this, but we all remember the wild options activity that was happening shortly after GameStop spiked in January. [u/HeyItsPixel](https://www.reddit.com/u/HeyItsPixel/) was one of the first to point this out. While a lot of that activity was on the retail front, I suspect a lot of it was done by short sellers to cover those positions.
+
+____________________________________________________________________________________________________________
+
+5. Hedgies are f*cked...
+
+I'm officially +20 pages deep and there's still so much I'd like to say. It's best saved for another time and another post, I suppose. So I guess I'll wrap all of this up with some of the best news I can possibly provide...
+
+It all started with a [73 page PDF](https://www.sec.gov/comments/s7-08-08/s70808-318.pdf) that was published in 2005 by a silverback named John D. Finnerty.
+
+John was a Professor of Finance at Fordham University when he published *"short selling, death spiral convertibles, and the profitability of stock manipulation"*. The document is loaded with sh*t that's incredibly relevant today, especially when it comes to naked short selling. He dives into the exact formula that short sellers use, which is far beyond what my wrinkled brain can interpret, alone...
+
+..However, when firms are naked shorting a company with the goal of bankrupting them, they leave footprints which are only explained by this event. The proof is in the pudding, so to speak..
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/ax7u0r4wfk171.jpg?width=1072&format=pjpg&auto=webp&s=1828755bfe49c47ca178d960f91dfd21d8b0d680)](https://preview.redd.it/ax7u0r4wfk171.jpg?width=1072&format=pjpg&auto=webp&s=1828755bfe49c47ca178d960f91dfd21d8b0d680)
+
+Any of this sound familiar??
+
+*"The manipulator can not drive the share price close to zero unless he can naked short an extraordinary number of shares...* *this form of manipulation would result in... unusually heavy trading volume, and unusually large and persistent fails to deliver at the NSCC".*
+
+Anyone else remember the volume in GME during the run-up in January? The total volume traded between 1/31/2021 and 2/5/2021 was 1,508,793,439 shares, or an average daily trade volume of 88,752,555 shares. On 1/22/2021, the volume reached 197,157,946... that's roughly 3x the number of shares that exist..
+
+if this doesn't sound like unusual volume then I'm not sure what is. Furthermore, the FTD report on GameStop was through the roof during this time:
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/brz98nbzfk171.jpg?width=1625&format=pjpg&auto=webp&s=83ae877853acd2ec65fa73f57216f00b708a7eab)](https://preview.redd.it/brz98nbzfk171.jpg?width=1625&format=pjpg&auto=webp&s=83ae877853acd2ec65fa73f57216f00b708a7eab)
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/zlla3ak0gk171.jpg?width=1038&format=pjpg&auto=webp&s=c5d4a1331f8c9d97b5338cc55a37310a95c9559b)](https://preview.redd.it/zlla3ak0gk171.jpg?width=1038&format=pjpg&auto=webp&s=c5d4a1331f8c9d97b5338cc55a37310a95c9559b)
+
+Notice the statement where the manipulator will be relieved of its obligation to cover IF the firm's shares are cancelled in bankruptcy? Did you happen to see footnotes 65 & 66 in the first screenshot of his PDF? It references a company that he used for his analysis...
+
+[![r/Superstonk - House of Cards - Part 3](https://preview.redd.it/zdp3at43gk171.jpg?width=997&format=pjpg&auto=webp&s=8508c9d0c869544f0ccd3a15477abfd64d38897c)](https://preview.redd.it/zdp3at43gk171.jpg?width=997&format=pjpg&auto=webp&s=8508c9d0c869544f0ccd3a15477abfd64d38897c)
+
+Charter Communications had a whopping 241.8% short float in 2005... The ONLY way the manipulator could have escaped this was by bankrupting the company and relieving the obligation to repurchase those shares...
+
+Guess what happened to Charter? They filed for [bankruptcy](https://abcnews.go.com/Business/story?id=7189668&page=1) in 2009...
+
+However, unlike John's example where naked short sellers were driving down the price without opposition, GameStop had extremely high demand from retail investors to counter this activity. As I have discussed with Dr. T and Carl Hagberg, the run-up in volume during January and February was largely conducted by naked short sellers in an attempt to suppress the share price. As I have shown in the example with Goldman Sachs, firms will short sell during a buy-in for the same exact reason. To stabilize the price, you must stabilize supply and demand.
+
+...You know what Charter didn't have?
+
+AN ARMY OF APES TO HODL THE STONK
+
+DIAMOND. F*CKING. HANDS

01-Must-Read/House-of-Cards-by-atobitt/2021-05-27-House-of-Cards-Parts-2-and-3-AUDIO.md

@@ -0,0 +1,33 @@
+House of Cards Part 2 & 3 AUDIO
+===============================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/GoryAmos](https://www.reddit.com/user/GoryAmos/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nlzhrr/house_of_cards_part_2_3_audio/) | 
+
+---
+
+[Discussion 🦍](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Discussion%20%F0%9F%A6%8D%22&restrict_sr=1)
+I'm one of those apes who needs to listen to the words while they read the words so I am making recordings of [u/atobitt](https://www.reddit.com/u/atobitt/)'s newest additions to the House of Cards trilogy. I figure I'm not the only ape who needs to hear stuff for it to make sense, so I'm sharing my recordings here. Please forgive any flubs and corrections of flubs - I'm reading it all in my head for the first time as I'm reading it all out loud.
+
+The mp3 for Part 2 is...
+
+The mp3 for Part 3 will be posted first thing in the AM, probably during pre-market. I'll update this post with the link when it's done.
+
+UPDATE: omg APES BROKE DROPBOX. I had no idea this would be this popular. My account's been suspended lol. I'm adding a feed to my libsyn podcast account and posting the links through that. Stay tuned, replacement link will be posted shortly
+
+DOUBLE UPDATE: This is now officially a podcast. Takes some time for it to show up on all the podcast apps, but in the meantime you can listen directly on libsyn here: [https://superstonkddaudio.libsyn.com](https://superstonkddaudio.libsyn.com/)
+
+I'll update again once Part 3 and Part 1 are done.
+
+THRUPDATE (that's a portmanteau i just coined for "third update"): Part 3 is LIVE: <https://superstonkddaudio.libsyn.com/house-of-cards-pt-3-by-uatobitt>
+
+The podcast name is SUPERSTONKDDAUDIO bc i'm an Ape and I forgot to use spaces.
+
+Spotify and Apple Podcast feeds are being worked on. Spotify should be live later tonight but Apple usually takes about a week to process a new podcast.
+
+I was so nervous to post the first recording last night - would Apes laugh? would Apes make fun? But I was nervous for naught! Apes support! Apes rejoice!
+
+So grateful for this community!
+
+I LOVE THIS STONK.

01-Must-Read/House-of-Cards-by-atobitt/2021-05-27-House-of-Cards-Parts-I-II-and-III-PDF.md

@@ -2,7 +2,7 @@ A House of Cards parts I, II, & III in PDF
 ==========================================
 
 | Author       | Source       | 
-|  :----:     |    :----:   |        
+| :-------------: |:-------------:|
 |  [u/atobitt](https://www.reddit.com/user/atobitt/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nm83eb/a_house_of_cards_parts_i_ii_iii_in_pdf/) | 
 
 ---
@@ -12,3 +12,9 @@ A House of Cards parts I, II, & III in PDF
 <https://pdfhost.io/v/lRQ4HqpG0_House_of_Cards_Atobitt.pdf>
 
 BIIIIIIGGGG shoutout to [u/Softlykile2](https://www.reddit.com/u/Softlykile2/) for providing the link and [u/jupitair](https://www.reddit.com/u/jupitair/) for the post. Go forth and share across all of the interwebs. Let every boomer-ape absorb this information through a traditional & newspapery medium.
+
+---
+
+**Alternative PDF Location in case PDFHost is Down posted by [u/Meticulous-](https://www.reddit.com/user/Meticulous-/)**
+
+[House-of-Cards-by-atobitt.pdf](https://github.com/verymeticulous/wikAPEdia/files/6721578/House-of-Cards-by-atobitt.pdf)

01-Must-Read/MOASS-Preparation-Guide-by-socrates6210/2021-06-29-MOASS-Preparation-Guide-2.md

@@ -0,0 +1,238 @@
+The MOASS Preparation Guide 2.0
+===============================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/socrates6210](https://www.reddit.com/user/socrates6210/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oakqvt/the_moass_preparation_guide_20/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+*******************************************************
+
+*I'm just gonna start off by saying that this is a sequel to* [*The MOASS Preparation Guide*](https://www.reddit.com/r/Superstonk/comments/mm5qle/the_moass_preparation_guide/)*, a post I wrote a few months ago. I felt it deserved an updated version considering so much that has happened recently, also i've learned a lot since then. This guide will be pretty in depth but don't worry, my view is that when you're explaining something, always imagine you're talking to a 5 year old (ELI5). So make yourself a cup of coffee, and grab a tasty crayola and enjoy.*
+
+*The subsequent sections are as follows:*
+
+-   *Pre-liftoff preparation*
+
+-   *D-Day*
+
+-   *During the MOASS*
+
+-   *Immediate Aftermath*
+
+-   *Long term aftermath*
+
+*******************************************************
+
+Please read though this as i believe it is important that we all have an understanding on the game plan 🚀
+
+Pre-liftoff Preparation
+
+[![r/Superstonk - The MOASS Preparation Guide 2.0](https://preview.redd.it/pskg3gxrka871.jpg?width=1280&format=pjpg&auto=webp&s=09b3bccc95d16594bc2a8cf9e5307e08eaf11058)](https://preview.redd.it/pskg3gxrka871.jpg?width=1280&format=pjpg&auto=webp&s=09b3bccc95d16594bc2a8cf9e5307e08eaf11058)
+
+-   Brokers preparation - I think everyone should take the time to understand the nuances and rules that the broker applies on trading. Some brokers may have some sneaky fine prints. So you should make sure that nothing can get in the way of you and your tendies.
+
+    -   Take note of the brokers that previous placed trade restrictions [here](https://www.reddit.com/r/Superstonk/comments/mowzjk/the_broker_preparation_guide/).
+
+    -   some brokers (Trading212 for example) have decided to restrict buying if you do not agree to their share lending program (*Do* *NOT* *agree to this.*)
+
+    -   If you have all your shares in one of these bad brokers and can't transfer, don't sweat it too much. JUST DO NOT SELL YOUR SHARES. The message was clear as crystal in January: if they prevent free trade like Robinhood did then that means they will lose customers and face litigation, so i *hope* for their sake that they have prepared for this.
+
+    -   It also wouldn't hurt to email your brokers customer service and ask them "*will you prevent me from selling if the price goes to X amount?*". Additionally, i would recommend keeping documentation, screenshots and recordings of your positions just incase f*ckery arises. It's good to create a paper trail just incase you need to bring them to court.
+
+-   Back up broker - If you can, open up an account as soon as possible on a reputable broker and buy at least 1 share. Don't aim to maximize gains but to minimize the regret of missing out just in case your broker decides to f*ck you. The rule of thumb is usually that commission based boomer brokers with horrible user interfaces are the most trustworthy. See the "good brokers" in the link above.
+
+-   Diversify Brokers - if you can, spread out your holdings across multiple brokers. Also take note of what clearing house they use. You don't want to be caught up in some f*ckery where both brokers wont let you sell because they share the same clearing house. A solution to this could be to transfer shares. Some brokers allow you to transfer shares to others, but small "shit" brokers like eToro for example, do not. If thats the case then hold tight and buy on a different broker, if you wanna buy more shares.
+
+    -   Here is a [list of some brokerages](https://investorjunkie.com/stock-brokers/broker-clearing-firms/) and the respective clearing houses they use.
+
+    -   Here is a list of [brokers who placed restrictions](https://www.reddit.com/r/Superstonk/comments/mowzjk/the_broker_preparation_guide/) in a follow up post i made.
+
+    -   Trading212 for example: they're becoming Robinhood 2.0 now as they decided [to place buy restrictions](https://www.reddit.com/r/Superstonk/comments/oa7nq4/fud_alert_t212_simply_do_not_agree_to_terms_hold/) if you don't agree to their share lending program. Admittedly, I am a Trading212 customer. So this is why you should diversify brokers, you never know when they are going to pull some shady shit.
+
+    -   *side-note*: I would stay away from brokers that use Apex Clearing, they're shady as shit.
+
+-   Order Routing - Order routing is when an order to buy or sell a stock is sent from your broker to an exchange. There are two kinds of exchanges: *Lit pools and Dark pools.*
+
+    -   Dark pools do not display prices at which participants are willing to trade (ie; in the dark), whereas lit pools do show these various bids and offers in a stocks. It's been said that the naked shorting gang pay millions to brokers to have millions of orders routed through their own dark pools, to which they can perform shady business (skimming cents off the spread of every order, suppressing buying pressure etc).
+
+    -   This brings me to my point: If you are thinking about buying some shares, you should route it through IEX, which is an exchange that was made in order to mitigate the affects of high frequency trading. [Oh hey, look! Our friends at Citadel don't like IEX](https://www.reddit.com/r/Superstonk/comments/oa7st6/citadel_really_doesnt_like_iex_if_you_have_the/?utm_source=share&utm_medium=web2x&context=3).
+
+-   Cash account, not margin - if you haven't already, request your broker to change your account from a margin account to a cash account. This way your shares are entirely your own and aren't being lent out to short sellers. Note that you need to have no options or short positions active with your account before you do this. If you are reluctant to switching your account then make sure that you have no withstanding deficits in your account so you don't get margin called and your broker automatically closes positions without your consent. Yes, this has happened to people before.
+
+-   Online Security - If you have learned anything from all this it's that you should not trust anyone. Take the time to enable two-factor authentication on your bank/broker accounts. Also you should have a different password for each account, preferably 20+ characters with a mixture of alphanumeric characters and symbols.
+
+    -   Do not use public wifi to log into your broker account.
+
+    -   Use a VPN when possible.
+
+-   Taxes - It is crucial that you learn about your countries [capital gains taxes](https://www.investopedia.com/terms/c/capital_gains_tax.asp). I would go deeper into this, However different tax rates apply in different countries depending on how long you are holding the stock. To keep this general for all users i will say Just google "*what are the tax laws for stocks in <my country>?*". (If you're a smooth brain, dont worry. I have the solution for you in immediate aftermath section)
+
+-   Prepare a personal balance sheet - It may be a good idea to prepare a balance sheet. A balance sheet is a snapshot of net worth and lists all your assets, liabilities, cash etc. This will make your life (*and your accountants life*) easier when you need an accountant. If you need a better understanding of balance sheets see this [video here](https://www.youtube.com/watch?v=hhKO6MRvk_c).
+
+-   Mental preparation - This one isn't so obvious, but please prepare yourself for seeing life changing money in your possession. Have a long think what you are going to do with this money. And as a side note: try to not tell too people you're invested, the less people know the easier your life will be.
+
+D-Day
+
+0:04
+
+0:08
+
+-   Take care of your health - Firstly, on the day of lift off you will definitely feel overwhelmed with emotions and anxiety. You're probably going to feel a little dizzy seeing the price increase exponentially. Please sit down when you are checking the price. The last thing i want to hear is that a fellow ape fainted and cracked their head because of being overwhelmed with emotions. In my opinion, deep slow [diaphragmatic breathing](https://my.clevelandclinic.org/health/articles/9445-diaphragmatic-breathing) really helps to slow down your heart rate and reduce anxiety.
+
+-   Expect Trading Halts - There is a difference between trading suspension and trading halt. Securities exchanges have the power to temporarily [halt](https://www.investopedia.com/terms/t/tradinghalt.asp), in the middle of the trading day, or delay, at the beginning of the trading day, trading on a stock. halts and delays usually last less than one hour. As opposed to suspensions, which can last two weeks. Suspensions are enforced by the SEC
+
+    -   In the case of trading halt: The NYSE may stop trading if the price rises too quickly. This is usually done to prevent massive impulse waves and let people calm down for a few minutes. But this is futile in the setting of a short squeeze, because all shorts must cover regardless. You can also check when GME is halted [here](https://www.nyse.com/trade-halt-current). Do not freak out if the graph flatlines.
+
+    -   In the case of trading suspension: I believe that if the infinity pool happens, meaning shorts literally will not be able to cover the potentially billions of synthetic shares they have created, driving the price to literally infinity, that the SEC most likely implement a trading suspension. We won't know unless it happens. But, who knows? They might not. You can read about trading suspensions [here](https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_tradingsuspensions).
+
+-   BOTS, BOTS EVERYWHERE - This could go two ways: either the shorts don't have anymore money to pay shills or we will have a massive influx of bots/shills on here and <*other stonk subs*> trying to nudge people to sell. They will say something like "wow i sold my 3 shares for 30K" and try to create a narrative that below 100K is the peak. 100K is not the peak. don't listen to it. we set the price.
+
+-   Reddit might be down - during the rally from $40 to $90 in February Reddit inexplicably went offline. It happened a couple of other times before when the price rose considerably. This could be due to a DDOS attack or just too much traffic to the site. Either way, if Reddit does go down don't worry. We are all still here.
+
+    -   The only call to action would be to go to the [SuperStonk youtube](https://www.youtube.com/channel/UCI4EET9NJPWxUuXGlG6fxPA) channel, which the mods said they will do an emergency broadcast when things kick off. So go there for communication.
+
+    -   Backup places to check out would be the mods twitter pages
+
+        -   <https://twitter.com/rensole>
+
+        -   <https://twitter.com/RedChessQueen99>
+
+        -   <https://twitter.com/PinkCatsOnAcid>
+
+During the MOASS
+
+[![r/Superstonk - The MOASS Preparation Guide 2.0](https://preview.redd.it/54mzc28uka871.png?width=1890&format=png&auto=webp&s=e6554f4f0e276f93d84d22c6cd766167638bd9c1)](https://preview.redd.it/54mzc28uka871.png?width=1890&format=png&auto=webp&s=e6554f4f0e276f93d84d22c6cd766167638bd9c1)
+
+-   Diamond hands - This one i cannot stress enough, the mantra is clear: HOLD! If you sell early you creating downward pressure against the MOASS. If the short position is in the billions of shares (which has been theorized) then this shouldn't be too much of a problem, but regardless - KEEP THOSE HANDS DIAMOND! The squeeze could last a few days, week or indefinitely. At this point no one knows. Don't feel pressure to sell when it goes $100K+, if the DD is correct (and it has been so far) then we are not stopping add measly hundreds of thousands.
+
+    -   A forced buy-back differs from a Margin call, in which a margin call is just a notice to "*increase the amount of money in your account before we close your positions, because you won't be able pay us if this goes any higher*"
+
+    -   Prime brokers will implement forced buy-back of hedge funds to cover their short positions. This means they will go the open market and buy them for what ever someone is will to sell them for.
+
+    -   The stock price = the last price it sold for. If the only sells available were asking for 1 million, then that means the price will be 1 million. And since it's likely there aren't enough shares in existence to cover the amount of shorting that went on then theoretically this ape filled rocket could blast through the moon and land on Alpha centauri B.
+
+-   Whats an exit strategy? - This one isn't so obvious because the we don't know what the peak will be, but you should have an exit strategy: Plan out what you need on the day of selling, where do you need to be? think about that day and visualize it so you aren't overwhelmed with anxiety when it actually happens. As for selling: all i can say on this matter is do not sell on the way up as it's a bad idea. ([~~explained here that you should~~](https://www.reddit.com/r/GME/comments/m073v6/exit_strategy_dd_a_comprehensive_guide_to/)) Use [this exit strategy](https://www.reddit.com/r/Superstonk/comments/nogxnr/infinity_war_the_final_exit_dd_compilation/) instead by [u/gherkinit](https://www.reddit.com/u/gherkinit/):
+
+-   Understand the different types of orders - Limit Order, Market Order, Stop Limit Order and Stop Loss Order, explanations on the pro's and cons of each can also be found [here](https://www.reddit.com/r/Superstonk/comments/nogxnr/infinity_war_the_final_exit_dd_compilation/)
+
+    -   Some people have noted that certain brokers have limits on the amount you can place an order for online (in terms of dollar value). Just to be safe make sure you have phone credit and the number for your broker ready to contact them to execute an order if this applies to you.
+
+    -   Also, some brokers may not even limit orders (Revolut as far as i know). Don't sweat it, this is beyond your control. Just sell on the way down, or don't. I don't care this is not financial advice.
+
+-   Sit down when you decide to take gains - When the dust has settled and you decide to take gains, again, sit down and drink some water and breath.. because you may faint or possibly get sick from seeing that you have sold a single share for an ungodly amount.
+
+-   Don't publish your realised gains publicly - Obvious one, don't be that person who flaunts the gains online. You are going to cause a lot of fair-weather friends and family to crawl out of the woodwork trying to get their hands on your tendies. It may be tempting to rub it in the faces of the people who doubted you, but just don't. It's not worth it.
+
+-   T+2 settlement - When you sell a share, it actually doesn't get settled until 2 days after it's executed, meaning you don't actually have the money in your brokerage until 2 days later. Learn about the [settlement violations here](https://www.fidelity.com/learning-center/trading-investing/trading/avoiding-cash-trading-violations) before you start going off buying other stocks with your gains. This T+2 settlement also gives the SEC the power to reverse any transactions they seem fit due to violations. Not meant to be FUD, i just thought its useful to know. I doubt they will start reversing transactions during the MOASS, but if it does occur. Hold tight, again: we set the price.
+
+-   WHAT DO WITH MONEY? - It should be known that your regular current/checking account is only insured up to $250,000 if you're in the [US under the FDIC](https://www.fdic.gov/deposit/deposits/faq.html) and €100,000 if you are [in the European Union](https://ec.europa.eu/info/business-economy-euro/banking-and-finance/financial-supervision-and-risk-management/managing-risks-banks-and-financial-institutions/deposit-guarantee-schemes_en). So its not advised to dump all your money into your bank account straight away. I would wait for T+2 settlement to clear then invest in value stocks, so you're money isn't tied to your broker, should they have issues. This brings me to the next section...
+
+Immediate Aftermath
+
+0:00
+
+0:02
+
+-   Assemble a team of legal and financial advisers:
+
+    -   Lawyer up - Hire a [tax attorney](https://www.moneycrashers.com/when-to-hire-a-tax-attorney/) to deal with any problems that may arise from all of this. Hire a family law or estate planning attorney that can arrange a Will for your family immediately.
+
+        -   side note: do NOT sign anything, from your broker/bank/crayon dealer or anyone if you do not understand it. Make sure you have an attorney read anything you may or may not be asked to sign.
+
+    -   Get an accountant - Get certified public accountant who helps wealthy families organize their finances and guide you through your finances.
+
+    -   Hire a financial advisor - Make sure you hire a financial advisor that is sworn to act as a fiduciary (*acting in your best financial interests, not theirs*), preferably with experience managing significant wealth. Make sure you check their certifications and that they aren't trying to push you to buy some insurance policy. The requirements to be a FA aren't concrete so there are a lot of snake oil salesmen that really don't have your best interests at heart. Make sure how you ask how they profit from you being their client and make sure they aren't trying to make commissions. Also, look out for high fees. Minimum advisor fees based on AUM should not be over 1% unless they can justify it with amazing historical returns.
+
+-   Expect to vilified by MSM - In the case of a financial crisis, i can nearly guarantee that they will try to blame us rather than the hedgies and regulators who caused it. Pay no mind to mainstream media and stand your ground.
+
+    -   Expect people to say you just got lucky, expect them to speak as though we are ones who caused this. They will lie, twist and corrupt the truth. Expect your friend who paper-handed a few months back and still think's GameStop is dying brick-and-mortar resent you. You don't need to justify yourself. All of our research has been documented, archived and literally shouted from the rooftops for months. As Michael brrry would say "*I warned, but no one listened*".
+
+    -   They may also try and backtrack to a pro-GME narrative now that it's not financial in their interest to side with SHFs. Just remember: MSM is not your friend, these people are allows pushing the narrative that they are paid push. It's literally their business model.
+
+-   Do nothing with the money - this kind of piggy backs off the first point about assembling a team of advisors, but please don't just cash out and go crazy with the money. Sit and think about it for some time. Let reality settle in and decide how are you going to use this money to help yourself and the people around you. Lambos are great but they won't bring you happiness forever. Don't blow that money down the drain. Educate yourself on how wealthy people maintain their wealth.
+
+Longer Term aftermath
+
+-   Expect turbulence in the economy - this wont be just contained to the world of GME. This is going to have a ripple affect across the world economy as the powers-that-be, who have been taking advantage of the system loops holes, finally pay their debt. Here is some essentials you should check out (in order) if you haven't already, this is 2008 ~~all over again~~ continued:
+
+1.  [Inside Job (Full movie)](https://www.youtube.com/watch?v=T2IaJwkqgPk) - by [Charles Ferguson](https://en.wikipedia.org/wiki/Charles_Ferguson_(filmmaker))
+
+2.  [The Bigger Short. How 2008 is repeating](https://www.reddit.com/r/Superstonk/comments/o0scoy/the_bigger_short_how_2008_is_repeating_at_a_much/) - by [u/Criand](https://www.reddit.com/u/Criand/)
+
+3.  [A House of Cards](https://www.reddit.com/r/Superstonk/comments/nm83eb/a_house_of_cards_parts_i_ii_iii_in_pdf/) - by [u/atobitt](https://www.reddit.com/u/atobitt/)
+
+4.  [The EVERYTHING Short](https://www.reddit.com/r/GME/comments/mgucv2/the_everything_short/) - by [u/atobitt](https://www.reddit.com/u/atobitt/)
+
+High/hyper Inflation - We need to talk about [inflation](https://www.fdic.gov/deposit/deposits/faq.html). In v1.0 of this guide I mentioned a possibility of inflation, but as more news has come out it's pretty much a guarantee. Also, I didn't give much recommendations on what to do about it. So, i learned a bit about inflation so you don't have to:
+
+-   The What?
+
+    -   Since governments have moved away from the gold standard, countries have the power to create money out of thin air through [quantitative easing](https://www.investopedia.com/terms/q/quantitative-easing.asp).
+
+    -   Inflation is the annual percentage rise in the cost of living. Okay so what does that really mean? Here is smooth brain explanation: If you have $1 in 2020, and inflation rises 10% in 2021, you still have your $1 but you only have the buying power of $0.90 relative to last year. This is why holding onto cash is not good in a high inflationary economy.
+
+-   The How?
+
+    -   Everyone always says its from over-printing of money, but in reality this is just a symptom of a failing economy, and a byproduct of the citizens lack of confidence in the currency.
+
+    -   In order to counter these rise in prices, the FED (or central bank) will raise interest rates, essentially reducing the amount of money in circulation.
+
+    -   The chair of the Fed, JPOW himself, said interest rates won't be [raised until 2023](https://www.cnbc.com/2021/06/16/fed-holds-rates-steady-but-raises-inflation-expectations-sharply-and-makes-no-mention-of-taper.html). However, fear is arising in the stock market as many speculate we have high inflation because the massive amount of "free money" initiatives to help the country get back on its feet, but it's just not being seen due to COVID-19.
+
+    -   I think it is also noteworthy to say there is a difference between high inflation and hyperinflation. Hyperinflation is a term to describe rapid, excessive, and out-of-control general price increases in an economy. While inflation is a measure of the pace of rising prices for goods and services, hyperinflation is rapidly rising inflation, typically measuring more than 50% per month.
+
+-   How to protect yourself?
+
+    -   Well firstly I'd like to note assets to avoid during high inflation:
+
+        -   [Fixed rate bonds](https://www.investopedia.com/terms/f/fixedrate-bond.asp)
+
+        -   [Growth stocks](https://www.investopedia.com/terms/g/growthstock.asp)
+
+        -   [Cash](https://www.investopedia.com/terms/c/cash.asp) (yes, that includes the money in your savings account)
+
+    -   The best investments during high inflation:
+
+        -   [Real estate/land](https://www.investopedia.com/terms/r/realestate.asp)
+
+        -   [Commodities](https://www.investopedia.com/terms/c/commodity.asp) (Gold, oil etc.)
+
+        -   [Boomer Value Stocks](https://www.investopedia.com/terms/v/valuestock.asp)
+
+-   How about crypt-0?
+
+    -   I can't name certain coins here because of auto-mod, but you know of the big ones I'm talking about.
+
+    -   It is assumed that anything with a limited supply will inevitably move with inflation. the loss in confidence people have in fiat currency is prevented with crypt-0-currency as it has an immutable finite supply.
+
+    -   However, you also need to bear in mind the *utility* of the asset. Just because something has a limited supply does not mean it's valuable (*The 2021 shit-coin craze being evidence of this*)
+
+    -   In a financial nuclear winter event, it may a case that some coins may become too expensive to mine due to rise in electricity prices, leading to a disinterest/disincentivization in holding the asset and thus reducing it's value.
+
+    -   Be careful if you decide to hedge with these assets as they are yet to be stress-tested during a financial crisis, some might succeed and many will fail.
+
+-   side-note: One silver lining i learned about inflation is that the burden of any debt you may have will be softened as the nominal value of the debt stays the same even as the value of the currency decreases. What does this mean? if you owe money, lets say a mortgage or student loan, it is easier to pay of that debt as it is assumed you wages will increase, while the number of dollars you owe stays the same. (*not that you will have a job after the MOASS anyway ( ͡° ͜ʖ ͡°)* )
+
+[![r/Superstonk - The MOASS Preparation Guide 2.0](https://preview.redd.it/4xpmi7xxka871.jpg?width=1908&format=pjpg&auto=webp&s=1b1e4adfcd66be4d4003cbee35d6d0796c96badf)](https://preview.redd.it/4xpmi7xxka871.jpg?width=1908&format=pjpg&auto=webp&s=1b1e4adfcd66be4d4003cbee35d6d0796c96badf)
+
+Taken during the 2011 Ocupy Wallstreet March (At National i
+
+*If there is anything else you think should be in here let me know in the comments. This is just my opinion and not financial advice. I am just an ape who eats crayons for fun. This will probably be my last DD before valhalla (financially speaking), I'll finish by leaving you with this image (above ^). Remember what happened in 2008 and don't show any mercy. HOLD.*
+
+- Socrates ( ͡° ͜ʖ ͡°)
+
+🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
+
+TLDR: no tldr you lazy ape, go read it. Its important
+
+_____________________________________________
+
+- edits 1: Diamond hands section typo : "***aren't* *enough shares", not "are enough shares"*
+
+*- edits 2: removed WardenElites exit strategy, added the gherkinit's exit strategy*
+
+*- edits 3: added mods twitters in Reddit going down section*

01-Must-Read/Sun-Never-Sets-on-Citadel-by-swede-child-of-mine/2021-06-18-The-Sun-Never-Sets-on-Citadel-Part-I.md

@@ -0,0 +1,232 @@
+The Sun Never Sets On Citadel -- Part 1
+=======================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/swede_child_of_mine](https://www.reddit.com/user/swede_child_of_mine/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/o2xz48/the_sun_never_sets_on_citadel_part_1/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+[Hello Superstonk](https://i.redd.it/y39nj0kvo2671.gif)
+
+Preface
+
+I became bothered by a question a few months ago. The GME saga started with MAJOR fight in the financial landscape between Team Citadel vs. Team Other (Blackrock, Vanguard, etc.), and Superstonk is here now because of Team Other getting Ryan Cohen on the board at GME, then "retail" landed on the scene, now Apes, etc. But this ONE question always bothered me:
+
+> What did Citadel do to piss everyone off? WHY would they want to give Citadel the most epic beat down in financial history?
+
+So I spent some time looking into that because it *must* be good and...
+
+*HO BOY, GET YOUR POPCORN, I'VE GOT SOME GOODS TO SHARE WITH YOU AND IT'S GONNA BE JUICY*
+
+* * * * *
+
+Note: this is a strategy post. [u/atobitt](https://www.reddit.com/u/atobitt/) and [u/criand](https://www.reddit.com/u/criand/) focus on macro topics about Citadel's structure in the overall market, but this series is going to be about financial industry strategy. I have a master's degree in business and specialize in strategy and operations. While I don't have direct experience in finance per se, I really enjoy finding the "hows" and "whys" behind what businesses do.
+
+Also, I'll give shout outs to the Apes who did relevant DD before this. Parts of this are my own discovery, parts are building on the work of those who came before :) This is an overall picture.
+
+Symbol indicators:
+
+-   [] - request for link to relevant DD ([r/Superstonk](https://www.reddit.com/r/Superstonk/) DD posts or legitimate sources)
+
+* * * * *
+
+1.0: Introduction
+
+The Price of $GME is artificial. Prior posts ([1](https://www.reddit.com/r/Superstonk/comments/mn0q9q/theory_all_the_pieces_pt_1_the_anatomy_of_the/), [2](https://www.reddit.com/r/Superstonk/comments/ms9z0n/theory_all_the_pieces_pt_2_the_deep_end_of_the/)) have covered how Citadel and other players in the market have greedily, illegally conspired to change the price of stocks for their own profit. While Citadel's criminal price manipulation of GME represents a failed scheme to fabricate shares for profit, this was only a small corner of a much larger body of activity. *Citadel's overall activity shows a plan to monopolize markets worldwide and control securities transactions at the exchange level*.
+
+Yep.
+
+Buckle up :)
+
+* * * * *
+
+Key Term
+
+Market Maker (or "MM") -- a special role in a stock exchanges around the world. An MM's primary role is to provide liquidity, or "to make sure there are shares available to buy if people want them" as well as "make sure there is a buyer if people want to sell." Exchanges need it: liquidity makes for easy buying and selling.
+
+-   A MM is the intermediary for almost any securities transaction. It is positioned between the exchange and the brokers/dealers/funds that do not have access to the exchange, or they use the MM to do the buying work for them, lol. Or the MM is positioned on the other side of a transaction, supplying the securities in demand.
+
+-   A MM is always in a position of risk. They are constantly in a place to be on the losing side of a transaction if they "guess" wrong.
+
+-   Note: Citadel has many branches, but it's two major branches are its hedge fund and its MM. I will be referring only to its MM activity.
+
+* * * * *
+
+1.1: Plus Ultra
+
+Take a moment to marvel at how Citadel has installed themselves in [so many markets around the world](https://www.fi-desk.com/market-structure-meet-the-new-market-makers/). They are Market Makers and/or liquidity providers in nearly every major exchange on earth: (*Note: my undersrtanding of a liquidity provider is that it's a bit like a less-powerful MM*)
+
+[Citadel Securities own splash page](https://i.redd.it/tolp2scxfw571.png)
+
+-   US/North America: NYSE, NASDAQ, CBOE (not even going to bother with links here, you know they're there), [Toronto](https://www.tsx.com/trading/toronto-stock-exchange/order-types-and-features/market-maker-program/market-makers-list?id=5)
+
+-   Europe: [London/Ireland](https://www.financemagnates.com/forex/brokers/citadels-technology-arm-posts-30-decline-in-2019-revenue/), Amsterdam[], Frankfurt[]
+
+-   Asia/Pacific: Hong Kong, [Singapore](https://www.reuters.com/article/us-citadel-singapore/citadel-securities-hedge-fund-citadel-to-open-new-office-in-singapore-idUSKBN25K08J), Sydney [], Shanghai []
+
+-   (Apologies on missing links, I've saved so many links through this whole drama that I can't find some of my sources anymore. And this is not the full list, this is only what I could put together for this post.)
+
+Citadel is truly an intmidating company based on the position it occupies in markets worldwide.
+
+1.2: E Pluribus Unum
+
+So WHY has Citadel strived to achieve such a large footprint across the globe?
+
+*Because there is a flaw in the markets across the world: it depends on Market Makers.*
+
+-   Exchanges are set up to have several Market Makers providing liquidity.
+
+-   So the Market Maker has responsibilities for supply and demand of a given security.
+
+-   It's an essential service so exchanges empower MMs with exclusive powers and responsibilities.
+
+Take a look at the exclusive powers the NYSE gives its DMMs (like a "Super" Market Maker): [From the NYSE DMM page](https://i.redd.it/n16pu83yiw571.png)
+
+-   MMs have *Superpowers* and wield immense control over securities.
+
+-   Exchanges rely on incentives for winning bids (coupons) as a way of creating competition and fair prices at the exchange.
+
+MMs are intended to be balanced by competing against each other
+
+-   ...so that the customers (brokers) can get the best value, and the Market Makers are financially rewarded for their service...
+
+-   ...but that means the MMs are competing for as many transactions as possible on the exchange. As much as their risk can allow.
+
+So the better the MMs are at managing risk, the more control they have over the exchange (because they capture more of the transactions)
+
+-   And there are advantages for MMs who perform better and capture more volume -- they can leverage the volume to achieve better prices and capture even *more* transactions.
+
+-   You've probably seen this chart, but it shows the size that MMs have become: [Citadel is almost as big as the CBOE -- the main options exchange for the US](https://i.redd.it/idkn9cchpn571.png)
+
+-   (Citadel, Virtu, and G1 are all MMs.)
+
+-   The important part about that graphic is the NYSE, NASDAQ, and CBOE volumes *include the transactions with Citadel and Virtu*.
+
+The MMs are becoming (or already are) bigger than the exchanges themselves. And the exchanges depend on them.
+
+-   Furthermore, the exchange is limited -- to a certain location, structure, set of regluations, list of securities, etc. Almost all exchanges are for profit.
+
+-   But if the exchange provides no security that can't be bought on another exchange, then the exchange needs to compete on best price - or else it's revenue goes away.
+
+-   And exactly *who* at the exchange offers the best price?
+
+-   But a Market Maker is free to engage in multiple exchanges. So if a financial product is available in one exchange, but not another, and an MM is in both exchanges, then the Market Maker can offer it because it a separate entity (if it legally can).
+
+-   And the Market Maker is free offer their best price at multiple exchanges, or even directly.
+
+What advantage does the exchange itself have? They can't provide *anything* that the Market Makers themselves can't/don't provide.
+
+-   *As an analogy, if you are used to shopping for separate items across several stores -- food at the farmers market, clothes at the mall, etc. -- a company like Amazon or WalMart will have an advantage by selling the same items for a comparable price in one convenient place.*
+
+It's "malls" vs. "Target/WalMart/Amazon/Costco" all over. We all know who won that one.
+
+1.3: Man o' War
+
+I mentioned "volume" earlier -- that is going to be key here.
+
+-   Market Making is already very risky, but the size of the established players make it prohibitive for new entrants. A new MM would need significant advantages to compete against Citadel, Susquehanna, and Virtu who will have superior positioning, expertise, technology, market understanding, funding, risk tolerance...
+
+> "The way to think about Citadel is as the Amazon of trading," says Spencer Mindlin, a capital markets technology analyst at Aite Group. In an industry that relies heavily on technology, Citadel has forged ahead by playing "a game of scale. You reach a point where it's impossible for others to compete," he says. [emphasis mine] - [Quartz](https://qz.com/1969532/how-ken-griffins-citadel-transformed-financial-markets/)
+
+Backstory:
+
+-   In the early 2010's Ken tired to make Citadel an investment bank and failed (lol)....
+
+-   ...but it ended up being one of those "lemons to lemonade" things for him. Because Ken realized that other MMs were *banks*, which were a major disadvantage. You see, *Banks* were encumbered with "regulations", "capital requirements" and stupid "investors". But Market Makers didn't need a bank, so they didn't need to have those pesky constraints.
+
+-   Then Ken stopped trying to be a bank. Which meant he could capture the MM market.
+
+-   Citadel went on to buy out competing Market Maker assets from [Citi](https://www.usatoday.com/story/money/2016/05/16/citadel-securities-buys-citi-market-making-assets/84437638/), [Goldman Sachs/IMC](https://www.prnewswire.com/news-releases/citadel-securities-reaches-preliminary-agreement-to-acquire-dmm-unit-from-imc-301149075.html), and [KCG](https://www.tradersmagazine.com/departments/brokerage/citadel-purchases-kcg-dmm-business-becomes-1-on-nyse/) to grow his market share and reduce compeition.
+
+-   And now, the Market Maker field is NOT competitive. The number of DMMs in NYSE has decreased over the years.
+
+-   Citadel has heavily "leveled-up" and is bar none THE biggest player on the field.
+
+This is why Citadel is in so many exchanges. Successful practices can be copied from one exchange to the next, with market advantages and rewards that scale. Why shouldn't Citadel be a MM in every major exchange on earth?
+
+-   But you realize what this means, right?
+
+*The exchanges have become commodities.* They are necessary for fulfilling their role as a securites selling venue, but have no unique value to themselves.
+
+> "We already have 16 stock exchanges, over 30 ATSs and handful of market maker SDPs, do we really need the banks to further fragment liquidity?" [emphasis mine] - [Themis Trading](https://blog.themistrading.com/2020/12/14434/)
+
+The TRUE value to the market is a firm that spans multiple exchanges and offers the breadth of securities available at competitive prices.
+
+1.4: The Commonwealth
+
+*But, but -- what about compeition? What about Virtu, G1, and the MMs in other countries? I thought you said this was a cOmPEtITivE field.*
+
+It's true, Virtu & G1 do "compete" against Citadel. But they have an... "interesting" relationship which prompts some theories and requires further investigation.
+
+-   First, Citadel needs to maintain the appearance of a free market to avoid antitrust lawsuits. They also need other Market Makers to offload the transactions that they are unwilling to take. A duopoloy or even triopoly is fine as long as they control the market.
+
+-   Second, from Virtu's perspective (*they're the largest competitor so I'll use them here*), it doesn't make sense to go head-to-head directly with Citadel on transactions -- Citadel has better positioning and a technological edge.
+
+-   And directly competing with a superior opponent would be expensive for Virtu. However, they would stand to profit from joining with Citadel if they took the same positions as them.
+
+-   And wouldn't you know it, Apes have discovered that Virtu and Citadel are doing the *exact same things* across many tickers. Here are 2 famous ones: [MAX-D](https://www.reddit.com/r/Superstonk/comments/nyxs1f/learn_from_the_past_when_they_didnt_care_to_hide/), [GME](https://www.reddit.com/r/Superstonk/comments/nr6urb/i_look_up_top_brokers_for_gme_year_to_date_and/) [Any more Apes want to do asset comparison between Citadel & Virtu? CALLING SUPERSTONKS MOST QUANTED] (s/o to [u/BadassTrader](https://www.reddit.com/u/BadassTrader/), [u/JustBeingPunny](https://www.reddit.com/u/JustBeingPunny/), [u/Sti8man7](https://www.reddit.com/u/Sti8man7/))
+
+-   That said, Virtu could still compete *indirectly* - they would need to find a niche where they could gain an advantage and separate themselves from Citadel...
+
+-   ...and oh look Virtu seems [very focused on client experience](https://s21.q4cdn.com/422114427/files/doc_presentations/2020/09/Virtu-Financial-Presentation-Sept-2020-Draft-v3.pdf), where Citadel is focused on product and market position.
+
+So Virtu is disincentivized to directly compete against Citadel, and is incentivized to coordinate with and complement Citadel.
+
+Monopoly much?
+
+1.5: The Crown Jewel
+
+If you STILL believe that being a Market Maker IS competitive and that exchanges are NOT commoditized, and that Virtu and Citadel are taking the same positions for non-collusive reasons ("*Exchanges are the pumping heart of a free economy! Of course EXCHANGES have control and NOT the Market Makers, the Market Makers are just making the plays they see are winners*"), and you need even more convincing... I have bad news.
+
+About 9 months ago the MEMX exchange opened.
+
+*Why is that a big deal? Who opened the exchange?* [*Let's check the MEMX website...*](https://memx.com/)
+
+-   [Oh.](https://i.redd.it/ujeiloi5dw571.png)
+
+-   Citadel and Virtu (and some other players you might recognize) *OPENED THEIR OWN EXCHANGE.*
+
+-   [Yeah.](https://i.redd.it/0kxh46xwcw571.jpg)
+
+"*But, but -- they wouldn't open their own exchange to profit at the expense of the market, would they?*"
+
+-   [*On the MEMX own splash page*](https://i.redd.it/gff2fr1edw571.png)
+
+-   "*MEMX will represent the interests of its founders*" - MEMX.com
+
+-   So, founders first, everybody else after. FROM. THEIR. OWN. FUCKING. SPLASH. PAGE.
+
+"*But, but -- maybe it's just a small side thing and it's not really going anywhere?*"
+
+-   [Right. Yeah. Sure.](https://i.redd.it/owqyk8kxdw571.png)
+
+"*But, but -- wouldn't that piss off the other exchanges? They would want to attack the MEMX founders in some way, right?*"
+
+-   [Yup.](https://i.redd.it/hknpksgdew571.png)
+
+Exchanges have become so commoditized and Market Makers have such an entrenched advantage that the dominant Market Makers have opened their own exchange, MEMX, whose primary purpose is to serve their interests at the expense of other exchanges.
+
+"Free market."
+
+TL;DR
+
+Citadel is/was moving to monopolize securities transactions at the exchange level.
+
+-   Market Makers have the most control over transactions at exchanges.
+
+-   Citadel is the largest Market Maker across exchanges worldwide (*can't find the sauce []*).
+
+-   Citadel has more power than the exchanges do, offering more products, more ways to purchase them, in more venues than the exchanges.
+
+-   Citadel has even started its own exchange in September 2020, which is growing rapidly.
+
+-   MM Competition is deterred from directly competing with Citadel - they have too much influence, and competitors are incentivized to coordinate with Citadel, not compete.
+
+-   The number of MMs have decreased in major exchanges while Citadel's market share is growing.
+
+Structurally speaking, Citadel is in a position to directly control the price of many securities and transactions at the exchange level.
+
+And that's not even all of it. Part 2 coming soon...

01-Must-Read/Sun-Never-Sets-on-Citadel-by-swede-child-of-mine/2021-07-03-The-Sun-Never-Sets-on-Citadel-Part-2.md

@@ -0,0 +1,449 @@
+The Sun Never Sets on Citadel -- Part 2
+=======================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/swede_child_of_mine](https://www.reddit.com/user/swede_child_of_mine/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/od4bb1/the_sun_never_sets_on_citadel_part_2/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+[Part 1](https://www.reddit.com/r/Superstonk/comments/o2xz48/the_sun_never_sets_on_citadel_part_1/)
+
+Apes, I'm stunned. I've rewritten this post several times because of what I've discovered. I haven't seen it anywhere else on Superstonk.
+
+All of this is intertwined. I won't be able to get to all of the pieces of Citadel in this part so this DD will continue... and build... into Part 3.
+
+This is a fucking ride.
+
+* * * * *
+
+Preface, part 1: Kudos
+
+First I'd like to follow up on some key critiques from [Part 1](https://www.reddit.com/r/Superstonk/comments/o2xz48/the_sun_never_sets_on_citadel_part_1/) and give kudos:.
+
+-   EU MMs -- MAJOR kudos to [u/NoughtyNought](https://www.reddit.com/u/NoughtyNought/) who did digging on finding [the list of EU MMs](https://www.esma.europa.eu/sites/default/files/library/list_of_market_makers_and_primary_dealers.pdf).
+
+-   DE markets -- MAJOR kudos to [u/LNhamburg](https://www.reddit.com/u/LNhamburg/) who has been looking into European markets since February and even followed up on my post with an [awesome post of their own](https://www.reddit.com/r/Superstonk/comments/o3c7ar/a_european_footprint_after_reading_the_sun_never/).
+
+But first, I need to apologize. I erroneously said Citadel was an MM across the EU in Part 1. I found conflicting sources, and Citadel *is* an MM in Ireland, but I should have clarified. I'll explain more on "how" and "why" I missed this later, but props to these Apes above who did their Due Due Diligience, I am in your debt. (*"To err is human..."*)
+
+-   Several users also pointed out: MEMX lists several "friendly" institutions, including BlackRock and Fidelity, as founders, not just Citadel and Virtu.
+
+-   This is true! Kudos to the several users who broght this up: [u/mattlukinhapilydrunk](https://www.reddit.com/u/mattlukinhapilydrunk/), [u/Robin_Squeeze](https://www.reddit.com/u/Robin_Squeeze/)
+
+So what should we make of Citadel being at MEMX? *Does Citadel really control MEMX -- or even monopolize the market -- if Blackrock, Virtu, and Fidelity are there too?*
+
+* * * * *
+
+2.0: Introduction
+
+The price of $GME is artificial. Prior posts have shown how $GME is being illegally manipulated by key players to the financial system, namely Citadel. These companies abuse their legitimate privileges to profit themselves at the expense of the market and investors. But it goes much deeper: Citadel is now positioned to do more than just monopolize securities transactions. Citadel is positioned to BE the market for securities transactions.
+
+Wait, what?
+
+Buckle up.
+
+* * * * *
+
+2.1: KING, I
+
+Citadel's influence on the market is all due to one quality: Volume.
+
+Volume is king.
+
+-   There is no way to understate it. Remember [this chart?](https://i.redd.it/idkn9cchpn571.png) Citadel and Virtu's combined volume being larger than ANY exchange is only the *beginning*, it's our *starting point*.
+
+Do you want to know why it's taking so long to MOASS?
+
+-   Look at this [tweet estimating the fees the MMs make off of volume.](https://i.redd.it/0ruptccy0u871.png) - [sauce](https://twitter.com/EricBalchunas/status/1354775322445701128)
+
+-   MMs made an estimated $350M+ in four days. January 27 (the "sneeze") [volume was 24.8 billion equities traded](https://www.marketsmedia.com/us-equity-trading-volume-reaches-record/) for a single day.
+
+-   (we now know the MMs also took the full income of the shares they sold since they were selling pledged shares and never delivered)
+
+-   This illustrates how the MMs generate revenue off of any volume. They do this with nearly any security or transaction they make a market for.
+
+*So the same activities that empower Apes to create the MOASS also provide the MMs with more resources to prolong the arrival of MOASS.*
+
+What a fuckin' paradox.
+
+* * * * *
+
+2.2: Kneel before the crown
+
+Volume is king. Once a firm hits a critical mass of transactions, it become impossible NOT to deal with that firm. For example:
+
+Exchanges
+
+-   The NYSE & Nasdaq view Citadel/MEMX as a threat. Look at this article posted on the Nasdaq website [regarding MEMX](https://www.nasdaq.com/articles/the-answer-to-memx-2020-07-06):
+
+> "MEMX will provide market makers with the ability to bypass the exchanges entirely." (*lol, so pissy*)
+
+*(credit to *[u/Fantasybroke](https://www.reddit.com/u/Fantasybroke/)* for their *[*awesome comment*](https://www.reddit.com/r/Superstonk/comments/o2xz48/the_sun_never_sets_on_citadel_part_1/h2936st/)*)*
+
+-   As much as these exchanges might be "frenemies" with Citadel, they still need to function as businesses.
+
+-   This pandemic posed a major issue for the NYSE: *how could they do IPOs* -- a critical function for exchanges -- *when all traders were remote?*
+
+-   They relied on Citadel. [Nine times](https://www.businessinsider.com/how-citadel-securities-dmms-are-handling-ipos-remotely-2020-5).
+
+-   There was *no other firm* that had the capability to execute. Only Citadel.
+
+Brokers
+
+-   Awhile back there was a post about how a broker sent notice to clients saying in effect that they wouldn't know how to source their transactions in the event of Citadel defaulting. Users should expect delays in transactions if that happened.
+
+-   (*eToro? WeBull? Schwab? TDA?* *Superstonk I need the source, help![]*)
+
+-   If confirmed, this implies major brokerages are becoming or already are reliant on Citadel for basic, essential functions.
+
+[WHAT. THE. FUCK.](https://www.reactiongifs.com/wp-content/uploads/2013/10/tom-delonge-wtf1.gif)
+
+Let me it say again another way: we are at a point where MAJOR BROKERAGES AND EVEN EXCHANGES DO NOT KNOW HOW TO FUNCTION WITHOUT CITADEL.
+
+But it's bigger than that -- it's not just key players in the market that are reliant on Citadel.
+
+But first.
+
+* * * * *
+
+2.3: The Four Corners
+
+> *We... manufacture money.*\
+> *-- Ken Griffin*
+
+That Ken Griffin quote stood out to me, I have a background in operations with experience in manufacturing & logistics. "Manufacture" implies certainty of output, given the correct inputs. Looking at Citadel's actions in the context of manufacturing - supply and demand -- we can reverse engineer the strategy. Understand how we got here. Let's go. (*This is important groundwork, but if you need to skip you can jump to "2.4: Corner 3: Buyer"*)
+
+Overview
+
+You can think of the financial industry as one that manufactures "transactions", in the same way that the automotive industry manufactures "vehicles" of all varieties.
+
+To manufacture a transaction requires a buyer, a seller, a product, and is produced in a venue (a.k.a. a "Transaction factory").
+
+-   The national "supply" comes from the collection of the different "factories": exchanges, ATS's (Dark Pools), SDP's (single-company terminals), etc. Each of the venues produces a slice of the overall Transactions pie chart.
+
+-   Supply of "raw materials" (lol) - buyers and sellers with products - flow into the various factories. Exchanges have been the primary "Transaction factories" for centuries. NYSE and Nasdaq still produce a large portion of US transactions every year.
+
+-   These exchanges employ Market Makers as a permanent stand-in buyer, seller, or provider of products at the exchanges -- whatever is needed. Exchanges charter MMs to provide the missing pieces to complete the transactions, and provide the MMs with special abilities to do so. Because exchanges benefit from having MMs.
+
+So...
+
+if you were a Market Maker, and you already provide the raw materials for buyer, seller, and product pieces of "production," what would you want to do next if you wanted to grow?
+
+You would want a venue. Then you could manufacture transactions independently.
+
+So guess what Citadel wants to do?
+
+But -- is Citadel is ready? Do they really have enough Products, Sellers, and Buyers to supply a "factory" of their own?
+
+* * * * *
+
+2.2: Corner 1: PRODUCT
+
+Product is about range. Range of available products is CRITICAL feature demanded by clients, as well as the necessary volume.
+
+Storytime:
+
+-   A few months back a reddit user commented about their experience working at a financial firm (*for the love of everything I can't find the comment now -- Superstonk help again!?[]*). I don't remember the username, probably something like "stocksniffer42" or whatevs, lol. Let's call him "Greg."
+
+-   Greg would occasionally need to make securities transactions at a nearby terminal, a couple times a week. Price wasn't really important to Greg.
+
+-   But what WAS significant was availability. Greg had providers he preferred because they had what he needed. When they didn't it was super inconvenient for him because THEN Greg would have to search through enough providers to find what he needed. The more "availability" that a certain provider offered, the more likely Greg used them.
+
+-   This is pretty much the Amazon/WalMart/Target strategy. You're more likely to buy from them since they have everything. Even if it's not the lowest price.
+
+Exchanges have a limited offering -- CBOE doesn't offer the same products as NYSE and vice-versa.
+
+Huh, look at that. Citadel is a MM for multiple exchanges - CBOE, NYSE, and NASDAQ. Looks like Citadel can offer options, securities, bonds, [swaps](https://www.bloomberg.com/news/articles/2016-09-01/ken-griffin-gets-redemption-in-swaps-market-once-ruled-by-banks), and pretty much [any product under the sun](https://www.citadel.com/disclosures/).
+
+Seems like they have "Product" pretty well sorted. What about the other pieces?
+
+* * * * *
+
+2.3: Corner 2: SELLER
+
+Generally, Sellers are interested in only PRICE. However, price is the LEAST important aspect of all demand, believe it or not. (*Note: we'll assume some interests overlap between buyer and seller because the same party can alternate roles.*)
+
+Price is supported market-wide by a sense of trust and pre-arranged transaction costs:
+
+-   Price is set nationally by the NBBO -- [the National Best Bid and Offer](https://www.investopedia.com/terms/n/nbbo.asp). A national price range that establishes trust with buyers and sellers. Everybody abides by it. [Nobody will be scamming anyone on price in the NBBO](https://www.law.berkeley.edu/wp-content/uploads/2019/10/bartlett_mccrary_latency2017.pdf). Because...
+
+-   Venues (like exchanges) don't make money off price, they make it from member fees, or sub-penny fees.
+
+-   Product prices can vary quickly, so it's somewhat relative. Precision pricing isn't a concern for the vast majority of non-HFT trades.
+
+-   Buyers will proceed if the price is within their acceptable range and doesn't have an undue markup.
+
+-   Market Makers make very little money on individual transactions, usually.
+
+-   (We individual retail investors may want maximum profit through a single transaction (**cough** DIAMOND HANDS **cough**)... but not Market Makers.)
+
+However, institutional sellers have an additional price agenda:
+
+-   Volume sellers don't want to flood the market of their given security, dropping the price right as they sell. They want to offload the asset in a price-friendly way.
+
+-   Strategic sellers don't want the marketplace to know that they changed a position, they want to keep their transactions private.
+
+These sellers would want a venue that won't affect the public price and remains private.
+
+So price agenda is relative - it's up to each party to decide their interests. At the point of transaction price is either pre-negotiated (for volume sells), or else *precise* price does not matter for non-HFT transactions. (*Would you sell $XYZ at $220.05 but NOT at $220.02?*)
+
+Strategically, if Citadel wanted to increase its volume of sellers it would need:
+
+-   the ability to absorb large volumes of securities (i.e. buy a lot at a competitive price)
+
+-   source a large volume of buyers to match with the sellers.
+
+-   have a private transaction venue to attract sellers of any volume
+
+Interesting. Seems like Citadel is probably already doing a lot of this activity through the exchanges or Dark Pools they might be connected to.
+
+How about the last piece?
+
+* * * * *
+
+2.4: Corner 3: BUYER
+
+A Buyer is interested in one thing: EASE OF ACCESS.
+
+*Like Greg, a buyer wants easy access to a range of securities, acceptable prices, and easy access to to sellers.*
+
+Citadel can be all of these and/or provide them, but, wait --
+
+How exactly can clients BUY from Citadel?
+
+*Maybe clients can buy from Citadel on the public exchanges?*
+
+-   True, but Citadel could still lose the bid. Or pay additional fees, or lose on the bid-ask spread.
+
+-   Also, that's no good for Citadel. It means the clients are coming to the exchanges, which are the venues Citadel is trying to compete against.
+
+*Perhaps their target clients are institutions that want the kind of lower-cost, lower-visibility option that a Dark Pool offers? Can clients buy from Citadel on one of the many Dark Pools/ATSs?*
+
+-   Yes, but the Dark Pools can be "pinged" by HFTs to reveal positions and interest. Someone else could front run the transaction.
+
+-   And again, the venue would be making the transaction, not Citadel.
+
+*So why doesn't Citadel do their own Dark Pool then? Why should the US's largest Market Maker pay to use someone else's Dark Pool?*
+
+-   Okay, let's check if Citadel Has their own ATS. Hmmm... that's weird. There is [no ATS registered to Citadel](https://www.sec.gov/files/data/alternative-trading-system-ats-list/atslist053121.pdf). *Anywhere.*
+
+-   (Dark Pools have to [register through form ATS-N](https://www.sec.gov/divisions/marketreg/form-ats-n-filings.htm) due to SEC regulation ATS)
+
+*So if Citadel has to compete for buyers in exchanges, and they pay to go through Dark Pools, then why, or how, do clients buy from Citadel? How does Citadel get its volume?*
+
+Easy.
+
+Citadel Connect.
+
+*Wait, what?*
+
+[Citadel Connect](https://i.redd.it/v35705zpru871.png).
+
+That's right. You've been in these subs for 6 months and you haven't heard of Citadel Connect? Citadel's "not a Dark Pool" Dark Pool? (That's not by coincidence, btw).
+
+[*MOTHERFUCKER WHAT?!?!*](https://i.redd.it/wy0fpnnb0u871.jpg)
+
+Citadel Connect is an SDP, not an ATS. The difference is the reporting requirements. SDPs do not have to make the disclosures that either the exchanges or even the ATSs (a.k.a. Dark Pools) have to.
+
+-   (FINRA once took a look at [regulating SDPs](https://www.sec.gov/rules/sro/finra/2019/34-86315.pdf), but decided [not to](https://i.redd.it/328lgq1s1v871.png)).
+
+[Yep.](https://media0.giphy.com/media/UvtKiyeWYEhRC/giphy.gif?cid=ecf05e47d9juouou9jrbshblwc2adl6q17tv6g424rp2kvoi&rid=giphy.gif&ct=g)
+
+There is a laughable amount of search results for Citadel Connect on Google. There are no images of it that I could find. I believe it is an API-type feed that plugs into existing order systems. But I couldn't tell you based on searches. I found no documentation -- just allusions to its features.
+
+-   So when the SEC regulated ATSs in 2015, Ken shut down Citadel's actual Dark Pool, [Apogee](https://www.reuters.com/article/us-citadel-darkpool/citadel-securities-to-close-apogee-dark-pool-sources-idUSKBN0MN22Q20150327), in order to avoid visibility altogether. Citadel started routing transactions [through Citadel Connect](https://www.reuters.com/article/citadel-darkpool/citadel-sees-volume-surge-in-its-citadel-connect-dark-pool-idUSL2N0LQ17H20140221) instead.
+
+-   Citadel Connect doesn't meet the definition of an ATS. There is no competition -- no bids, no intent of interest, no disclosures -- nothing. It is one order type from one company.
+
+-   Order type is IOC (Immediate Or Cancel), and the output is binary -- a type of "yes" or "no". You deal only with Citadel.
+
+-   *"Citadel, here's 420 shares of $DOOK, will you buy at $6.969?"*
+
+-   "YES" --> *transaction complete*, or
+
+-   "NO" --> *end transaction*
+
+-   Since it's private, the only information that comes out of the transaction is what's reported to the tape, 10 seconds after the transaction.
+
+*Okay, so you're just buying from a single company, that doesn't seem like a big deal. And aren't there are *[*a lot of other SDPs*](https://blog.themistrading.com/2020/12/14434/)*? So why is this a problem?*
+
+By itself? Not a problem. Buyers and sellers love it, I'm sure.
+
+However...
+
+* * * * *
+
+2.5: KING, II
+
+Volume is king.
+
+Citadel does such volume that it is considered a "securities wholesaler", one of only a few in the US. Like Costco, or any wholesale business, it deals in bulk. But Citadel can deal in small transactions, too.
+
+Citadel has a massive network of sales connections through its Market Maker presence at US exchanges. It capitalizes on the relationships through Citadel Connect, turning them into clients.
+
+-   Citadel has a market advantage with its volume of clients.
+
+Citadel Connect integrates into existing ATSs and client dashboards (here's an example from [BNP Paribas](https://i.redd.it/dojfd7lyru871.png) - [sauce](https://globalmarkets.cib.bnpparibas/app/uploads/sites/4/2021/05/execution-venues-us-version.pdf)). Like Greg's testimonial, I suspect it's easy for just about any financial firm to deal directly with Citadel.
+
+-   Citadel has an ease of access advantage.
+
+And given Citadel's wide range of products it conducts business in and is a Market Maker for, I'm sure Citadel is an attractive option for just about anyone in the financial industry who wants to buy or sell a financial product of any kind. Competitive prices. Whether in bulk or in small batches. Whether privately or publicly. However frequently, or whatever the dollar amount might be.
+
+-   Citadel has a privacy and pricing advantage.
+
+Like Amazon, WalMart, and Target, Citadel is offering *everything*: a wide range of products, nearly any volume, effortless ease of access, the additional powers of an MM, and a nearly ubiquitous presence. Doing so lets Citadel capture a massive amount of market share. So much that it is prohibitive to other players, relegating them to smaller niche offerings and/or a smaller footprint.
+
+-   Citadel has market presence advantage.
+
+* * * * *
+
+2.6: The Final Piece: VENUE
+
+So guess what Citadel wants to do?
+
+But... do you get it? Have you figured it out?
+
+Citadel doesn't need to get a venue.
+
+Citadel *IS* the venue.
+
+Citadel is [internalizing](https://www.investopedia.com/terms/i/internalization.asp) a substantial volume of transactions from the marketplace. It's conducting the transactions inside its own walls, acting AS the venue in itself.
+
+Said another way, Citadel is "black box"-ing the transaction market, and it's doing so at a [massive volume](https://i.redd.it/drdcsznn0u871.png) - [sauce](https://www.rblt.com/market-reports/let-there-be-light-us-edition-24).
+
+-   *Okay, so it sounds like Citadel is just buying and selling from multiple parties, and making a profit off the spread. Every firm does that, though, right? It's just arbitrage, it doesn't make them an exchange.*
+
+Citadel is offering the features of an exchange, or even benefiting from existing exchanges (i.e. the NBBO, MM powers across multiple exchanges) without any of the regulations of an exchange. It can offer more products, more easily, more quickly, more cheaply, and more privately than an exchange could. It's so non-competitive that IEX - yeah, the exchange - [wrote about the decline of exchanges](https://medium.com/boxes-and-lines/the-rising-tide-of-broker-costs-and-the-shrinking-pool-of-competitors-40d4d389e59a):
+
+> "...trends of the past decade have seen a sharp increase in costs to trade on exchanges, a sharp decrease in the number of exchange broker members, and a steady erosion in the ability of smaller or new firms to compete for business."
+
+It is doing this at the same time that brokers and even exchanges are relying on Citadel more and more. And, by the way - *why are they so reliant on Citadel in the first place?* Glad you asked.
+
+Volume is limited. So the more volume Citadel takes...
+
+-   ...the less volume there is for the competition.
+
+-   ...the more reliant the other players are on Citadel for buying and selling.
+
+-   ...the less profit for competitors, so the more expensive their services have to be.
+
+This "rich-get-richer" advantage is known as a "virtuous cycle" (hah -- "virtuous") -- one of the most sought-after business advantages.
+
+Citadel is capturing and internalizing more and more transactions, driving up costs for exchanges and making the competition smaller and smaller while also making them more dependent on Citadel to conduct critical business operations.
+
+"Free market"
+
+* * * * *
+
+2.7: "...to forgive, devine."
+
+Apes, I told you I would follow up on "how" and "why" I missed on Citadel not being an MM across the EU.
+
+The EU marketplace is structured differently than the American markets, with different rules and roles. I knew Citadel had a massive presence in the EU, I just missed the role. I think you can put together [why](https://i.redd.it/axa0gpvap1971.png).
+
+* * * * *
+
+2.8: TL;DR
+
+Citadel is moving beyond monopolizing the MM role, it has captured a massive portion of all securities transactions and is moving them off-exchange. For an undisclosed portion of transactions, Citadel IS the market.
+
+-   Citadel positioned itself to provide every piece required to provide transactions -- buyers, sellers, product -- at an unrivaled scale, allowing it to be a wholesale internalizer.
+
+-   ("Internalizing" here is shorthand for "one company acting as a private exchange without exchange regulations or oversight").
+
+-   Citadel does this through an SDP called "Citadel Connect," which is a type of Dark Pool that doesn't require disclosure.
+
+-   Citadel's overall volume and market position are prohibitive to new competition and also drives away all but the largest competitors.
+
+-   Even exchanges are losing volume to Citadel's OTC market share, threatening the exchanges' position in the market.
+
+Citadel is capturing more and more of the transactions market, experiencing less competition, as it enjoys more and more entrenched advantages, at the expense of the market and the investor.
+
+This is the groundwork that will set us up for Part 3.
+
+* * * * *
+
+Part 3 coming soon...
+
+* * * * *
+
+EPILOGUE: Dieu et mon droit
+
+"But it's bigger than that -- it's not just key players in the market that are reliant on Citadel."
+
+Including this after the TL;DR for all to see. This is why I was delayed.
+
+This is a 2 minute video from Citadel's own page. [Watch it.](https://www.youtube.com/watch?v=eVfxEBE-nI4&t=158s) It blew me away when I saw it, and I'll explain why below. Transcription mine (streamlined version):
+
+> *Mary Erodes:* That's a really important shift. The groups that used to make markets, i.e. step in when no one else was there, were the banks. They have shrunk by law. So when we need liquidity in the future... [points at Ken] He's has a fiduciary obligation to care only about his shareholders and his investors. He doesn't have an obligation to step in to make markets for the sake of making markets. It will be a very different playbook when we go through the liquidity crunch that eventually will come.
+
+> *Ken Griffin:* I think this is very interesting, "what is the role [Citadel] will play in the next great market correction?" ...[In financial crashes] no one buys the asset that represents the falling knife. The role of the market maker is to maximize the availability of liquidity to all participants. Because the perception and reality that you create liquidity helps to calm the markets. We worked with NYSE and the SEC to re-architect trading protocols... The role of large investment banks has been supplanted by not only Citadel Securities, but by a whole ecosystem of statistical arbitrage that will absorb risk that comes to market quickly.
+
+[emphasis mine]
+
+Let me summarize. Mary and Ken commented that:
+
+-   The old way of stabilizing financial crises was through multiple banks negotiating a solution to stabilize the economy.
+
+-   Banks can no longer do this due to regulations and their position in the market.
+
+-   Citadel (Ken) sees a Market Maker's role as a stabilizer, to make sure there are no violent price swings.
+
+-   Citadel worked with NYSE and SEC to re-architect the markets/economy on this belief that MMs will stablize and calm markets.
+
+IF this is true, and IF what Ken spoke of is an accurate reflection of how the market is now structured, then here is the subtext and implications:
+
+-   Market Makers, specifically Citadel and Virtu, are now the ECONOMY'S "immune system," they are the first and best line of defense against catastrophic collapse.
+
+-   Their function is to make sure that no single security or asset class can expose the market to overwhelming risk.
+
+-   They manage this risk through statistical arbitrage and coordination with authorities (NYSE & SEC) on behalf of the market.
+
+-   Citadel worked with the oversight organizations to influence the structure of the overall market.
+
+Going deeper:
+
+Everyone in this room knew about naked shorting. And that Citadel was a primary culprit.
+
+Which implies that somewhere, at some point, a deal was reached, tacitly or explicitly. The NYSE and SEC were in on it (at the time):
+
+Citadel/MM's get to control securities prices with relative impunity. Naked shorting and all.
+
+And in return, Citadel is responsible for making sure that no more crashes happen.
+
+[WHAT THE FUCK.](https://i.giphy.com/media/kGweWfIbaezO8/giphy.webp) I have no words.
+
+IF this is true, the implications for the MOASS are...
+
+-   Citadel defaulting is the equivalent of the entire economy getting full blown AIDS and spinal cancer at the same time. Knocking out the immune system and the functional response chain of the market.
+
+-   This leaves the market vulnerable to violent price swings that can instantly bankrupt other players
+
+-   ...which is why the DTCC is so concerned about member defaulting and transferring of assets...
+
+-   ...and another reason why the MOASS is taking so long: every player in the economy needs Citadel's assets need to remain intact, to stabilize the market and continue acting as the immune system.
+
+This video is from 2018. It has been over 2 years since then, at the time of this writing.
+
+Buy. Hodl.
+
+* * * * *
+
+Note 1: [u/dlauer](https://www.reddit.com/u/dlauer/) if you're reading this I'd like to connect re:part 3 - HMU with chat (DMs are off)\
+Note 2: If you guys find the links I couldn't find (i.e. "Greg", and the brokerage letter saying Citadel defaulting would delay their transactions) - comment and I'll update!\
+Note 3: Apes, I've seen responses to part one that end in despair. Be encouraged - regulators (NYSE, SEC, et. al) don't seem to like the current setup anymore. Gary Gensler's speech last month was laser-focused on Citadel and Virtu (and also confirms this DD):
+
+> Further, wholesalers have many advantages when it comes to pricing compared to exchange market makers. The two types of market makers are operating under very different rules. [...]
+
+> Within the off-exchange market maker space, we are seeing concentration. One firm has publicly stated that it executes nearly half of all retail volume.[2] There are many reasons behind this market concentration --- from payment for order flow to the growing impact of data, both of which I'll discuss.
+
+> Market concentration can deter healthy competition and limit innovation. It also can increase potential system-wide risks, should any single incumbent with significant size or market share fail.
+
+I don't think the guy likes Citadel very much lol
+
+* * * * *
+
+Edit: I'm seeing some responses that think this post implies Citadel is all powerful or controls everything. Very much not the case. Apes have them by the balls. Buy and Hodl, as always. But it helps to know exactly *what* we are up against, and *why* the MOASS is taking time. Also, we don't really want Citadel to just change the name on the building and get a new CEO - that doesn't really solve the problem, does it?

02-Resources/2021-07-01-Resources.md

@@ -0,0 +1,79 @@
+# Resources
+
+| Last Updated | July 7, 2021 |
+| :---: | :---: |
+
+| Name | Description |
+| :---: | :---: |
+| [GameStop Newsroom](https://gamestop.gcs-web.com/news-releases-0) | Stay up to date with GameStop's latest strategic initiatives. |
+| [GameStop Investor Relations](https://gamestop.gcs-web.com/home) | Source for GameStop's financial news. |
+| [Ape's Guide to the Galaxy](https://www.reddit.com/r/DDintoGME/comments/mnss65/the_apes_guide_to_the_galaxy_a_compilation_of_dds/?utm_medium=android_app&utm_source=share) | Compilation of DD, News, Announcements, Tools, and Resources |
+| [GME DD](https://gmedd.com/) | Resource that aggregates a compilation of GME due diligence. |
+| [GME Timeline](https://gmetimeline.com/) | Comprehensive timeline of GME-related events. |
+| [GME Technical Analysis](https://www.investing.com/equities/gamestop-corp-technical) | Tracks technical analysis, news, and other insights for a particular stock. |
+| [IBorrowDesk](https://iborrowdesk.com/report/GME) | Monitors borrow rates and availability using Interactive Broker's freely available data. |
+| [Stonk-O-Tracker](https://gme.crazyawesomecompany.com/) | Tracks available shares to borrow, options data, FTDs, and more. |
+| [Where are the Shares?](https://wherearetheshares.com/) | Tool that monitors FTDs. |
+| [SEC - Fails-to-Deliver Data](https://www.sec.gov/data/foiadocsfailsdatahtm) | Website that provides FTD data. |
+| [GME ETFs](https://www.etf.com/stock/GME) | Tracks how many ETFs hold GME. |
+| [ETF Channel](https://www.etfchannel.com/symbol/gme/) | Website that shows ETF holdings of a particular stock. |
+| [NASDAQ Short Interest](https://www.nasdaqtrader.com/Trader.aspx?id=ShortInterest#) | Provides short interest data for mid-month and end of month settlement dates for a particular stock. |
+| [Ortex - Short Interest](https://www.ortex.com/symbol/NYSE/GME/short_interest) | Dashboard that show short interest data. |
+| [NASDAQ - Real Time Trades](https://www.nasdaq.com/market-activity/stocks/gme/latest-real-time-trades) | Tool to monitor real time trades. |
+| [S&P 500 Heatmap](https://finviz.com/map.ashx) | Website that allows you to observe when Hedge Funds are liquidating in which sector(s). |
+| [Holdings Channel](https://www.holdingschannel.com/bystock/?symbol=gme) | Displays a list of funds holding GME. |
+| [Fintel - GME Institutional Ownership](https://fintel.io/so/us/gme) | Dashboard that shown ownership data, short interest %, and other reports. |
+| [FINRA - Morningstar](http://finra-markets.morningstar.com/MarketData/EquityOptions/detail.jsp?query=14%3A0P000002CH&sdkVersion=2.60.0) | Tracks equity and options data along with other information. |
+| [Yahoo - GME Historical Data](https://finance.yahoo.com/quote/GME/history?p=GME) | Shows a running history of GME previous open and closing prices, volume, etc. |
+| [Superstonk Quants](https://www.superstonkquant.org/) | Open-source resource that aims to provide quantitative analysis on the market. |
+| [Gamestonk Terminal](https://www.reddit.com/r/DDintoGME/comments/mxl0co/move_over_bloomberg_terminal_here_comes_gamestonk/) | Bloomberg-like Terminal created by [u/SexyYear](https://www.reddit.com/u/SexyYear/) |
+| [Stockgrid - Dark Pool Data](https://www.stockgrid.io/darkpools) | Dashboard that shows dark pool data. |
+| [NASDAQ - Reg SHO Threshold List](https://www.nasdaqtrader.com/Trader.aspx?id=RegSHOThreshold) | List that displays securities that are currently on threshold. |
+| [Repo and Reverse Repo Operations](https://apps.newyorkfed.org/markets/autorates/tomo-results-display?SHOWMORE=TRUE&startDate=01/01/2000&enddate=01/01/2000) | Tracks ON-RRP and participants daily. |
+| [Buffet Indicator](https://currentmarketvaluation.com/models/buffett-indicator.php) | Resource that depicts when the market is overvalued or undervalued. |
+| [Advisor Perspectives](https://www.advisorperspectives.com/dshort/updates/2021/06/04/the-s-p-500-dow-and-nasdaq-since-their-2000-highs) | Shows inflation-adjusted charts of the S&P 500, Dow 30, and Nasdaq. |
+| [DTCC - SEC Rule Filings](https://www.dtcc.com/legal/sec-rule-filings) | Lists rule filings from major institutions. |
+| [US Senate Stock Watcher](https://senatestockwatcher.com/) | Website created by [u/rambat1994](https://www.reddit.com/u/rambat1994/) that tracks stock trades of US Senate Members. |
+| [US House of Representatives Stock Watcher](https://housestockwatcher.com/) | Website created by [u/rambat1994](https://www.reddit.com/u/rambat1994/) that tracks stock trades of US House of Representatives. |
+| [Investor.gov - Researching Investments](https://www.investor.gov/introduction-investing/getting-started/researching-investments) | Website that you walks you through how to do your due diligence. |
+| [Tax My Tendies](https://taxmytendies.com/) | Tools that helps you calculate how much you'll owe in taxes post-MOASS. (US only). |
+| [Gamestop NFT](https://nft.gamestop.com/) | GameStops' official NFT website |
+| [GME NFT Relationships](https://github.com/schismsaints/GME_NFT) | Graphic that shows the relationships between GME tokens. |
+
+*Table inspired by [u/Truffluscious](https://www.reddit.com/user/Truffluscious/)*
+
+# GameStop 
+| Show support at | 
+| :-: |
+| [Gamestop.com](https://www.gamestop.com/) | 
+| [Become a PowerUp Rewards Member](https://www.gamestop.com/poweruprewards/) | 
+| [... Which gets you a subscription to Game Informer Magazine](https://www.gameinformer.com/) | 
+| [Follow Gamestop on Twitter](https://twitter.com/GameStop) | 
+| [Subscribe to Gamestop's YouTube Channel](https://www.youtube.com/user/gamestopvideo) | 
+| [Follow Gamestop on Twitch](https://www.twitch.tv/gamestop) | 
+| [Follow Gamestop on Instagram](https://www.instagram.com/gamestop/?hl=en) | 
+| [Follow Gamestop on Facebook](https://www.facebook.com/GameStop) | 
+| [Apple Devices- Download the Gamestop App](https://apps.apple.com/us/app/gamestop/id406033647) (Link to App Store) | 
+| [Android Devices- Download the Gamestop App](https://play.google.com/store/apps/details?id=com.gamestop.powerup) (Link to Play Shop) |
+| Brands owned by Gamestop; ThinkGeek, GameInformer, [MicroMania](https://www.micromania.fr/), and [EB Games](https://www.ebgames.ca/) |
+| [Gamestop Ireland](https://www.gamestop.ie/), [Gamestop Germany](https://www.gamestop.de/) |
+
+*Table created by [u/pinkcatsonacid](https://www.reddit.com/user/pinkcatsonacid/)*
+ 
+# Social Media
+| Name | Twitter | YouTube |
+| :-: | :-: | :-: |
+| [Superstonk](https://www.reddit.com/r/Superstonk/) | | 🚨 [Superstonk Emergency Broadcast](https://www.youtube.com/channel/UCI4EET9NJPWxUuXGlG6fxPA) 🚨 |
+| [u/DeepFuckingValue](https://www.reddit.com/user/DeepFuckingValue/) | [@TheRoaringKitty](https://twitter.com/theroaringkitty?lang=en) | [Roaring Kitty](https://www.youtube.com/channel/UC0patpmwYbhcEUap0bTX3JQ) |
+| Ryan Cohen | [@ryancohen](https://twitter.com/ryancohen) |  |
+| [HeyItsPixel](https://www.reddit.com/user/HeyItsPixeL/) | [@heyitspixel69](https://twitter.com/heyitspixel69) |  |
+| [PinkCatsOnAcid](https://www.reddit.com/user/pinkcatsonacid/) | [@PinkCatsOnAcid](https://twitter.com/PinkCatsOnAcid) |  |
+| [Dennis Kelleher](https://www.reddit.com/user/WallSt4MainSt/) | [@BetterMarkets](https://twitter.com/BetterMarkets) |  |
+| [Alexis Goldstein](https://www.reddit.com/user/dontfightthevol/) | [@alexisgoldstein](https://twitter.com/alexisgoldstein) |  |
+| Justin Dopierala | [@DOMOCAPITAL](https://twitter.com/DOMOCAPITAL) | [DOMO Capital Managment LLC](https://www.youtube.com/channel/UC3rCaBlsLlWJagcpbsais4w) |
+| Susanne Trimbath, PhD | [@SusanneTrimbath](https://twitter.com/SusanneTrimbath) |  |
+| [Dave Lauer](https://www.reddit.com/user/dlauer) | [@dlauer](https://twitter.com/dlauer) |  |
+| Andy Lee |  | [Andy Lee](https://www.youtube.com/channel/UC2e4QZAVEXQyH7BXfEE1GyA) |
+| [ByeTriangle](https://www.reddit.com/user/Bye_Triangle/) | [@ByeTriangle](https://twitter.com/ByeTriangle) | |
+| [sharkbait](https://www.reddit.com/user/sharkbaitlol) | [@u_sharkbaitlol](https://twitter.com/u_sharkbaitlol) | |
+| [BradduckF](https://www.reddit.com/user/Bradduck_Flyntmoore/) | [@BradduckF](https://twitter.com/BradduckF) | |

AMAs/Lucy-Komisar-AMA/Part-I/2021-05-24-Lucy-Komisar-AMA-Powerpoint-and-Partial-Script.md

@@ -0,0 +1,298 @@
+POST AMA DD- Lucy Komisar AMA powerpoint and partial script
+===========================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/pinkcatsonacid](https://www.reddit.com/user/pinkcatsonacid/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nke7sp/post_ama_dd_lucy_komisar_ama_powerpoint_and/) | 
+
+---
+
+[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
+
+Many of you noticed I made a snazzy powerpoint to use during the Lucy K AMA today, but didn't get to use it due to technical difficulties. So even though it's not the same, here is the bulk of what was intended for the interview, including Lucy's written script. Knowledge is Power! 💪
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/g8nivrt6l6171.jpg?width=677&format=pjpg&auto=webp&s=60102104cecd6de43dfc9d914a4525be62e1f80b)](https://preview.redd.it/g8nivrt6l6171.jpg?width=677&format=pjpg&auto=webp&s=60102104cecd6de43dfc9d914a4525be62e1f80b)
+
+🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
+
+Lucy Komisar AMA Part 2 [(Link here)](https://www.youtube.com/watch?v=wuPizlDY0Ys&t=22s)
+
+Topic of Discussion- The SEC
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/p98qxh2476171.jpg?width=180&format=pjpg&auto=webp&s=463cc9d081a8fa5a35b8828dd41b6121dd2737ec)](https://preview.redd.it/p98qxh2476171.jpg?width=180&format=pjpg&auto=webp&s=463cc9d081a8fa5a35b8828dd41b6121dd2737ec)
+
+Securities and Exchange Commission
+
+THE SEC for Superstonk- Script By Lucy Komisar
+
+*When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it."* --- Frédéric Bastiat, 19th century French Economist
+
+How the SEC was created
+
+One reason for the stock market collapses in 1929 was watering stock. A meme went "he who sells what isn't his'n must pay it back or go to prison." Traders would print up counterfeit stock certificates. Sound familiar. Naked short selling. The crash that started the depression.
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/l346v5i456171.jpg?width=470&format=pjpg&auto=webp&s=dbf1ac2b34080b60690ed448ed917fbce742f990)](https://preview.redd.it/l346v5i456171.jpg?width=470&format=pjpg&auto=webp&s=dbf1ac2b34080b60690ed448ed917fbce742f990)
+
+Ferdinand Pecora
+
+1932 Ferdinand Pecora was an immigrant working class kid from Sicily who put himself through New York Law School. He was hired in 1932 by the Senate Banking Committee to investigate the causes of the crash, to do a whitewash, but he didn't get the memo. His hearings exposed such practices as pools to support bank stock prices. Such as Let's all coordinate trades to pump up the stock. Sound familiar? GameStop? National City Bank (now Citibank) had hidden bad loans by packaging them into securities and selling them off to unwary investors. Sound familiar? Mortgage-backed securities that tanked? And that the bank sellers knew would tank?
+
+The findings of the Pecora Commission exposing corruption of the financial industry let to public support for regulation, -- it took really dirty stuff to move the pubic -which would be the Glass--Steagall Banking Act of 1933, the Securities Act of 1933, and the Securities Exchange Act of 1934. That last set up the SEC.
+
+Franklin Roosevelt appointed Joseph Kennedy (father of Jack and Robert) SEC chair. He had built the family fortune on financial manipulation, but Roosevelt thought he knew where the bodies were buried, who the miscreants. So the SEC cleaned up the Wall Street stables for five years. Then Kennedy's buddies of the financial oligarchy took charge again, in early regulatory capture.
+
+Pecora wrote a memoir, Wall Street Under Oath. He said: "Bitterly hostile was Wall Street to the enactment of the regulatory legislation." What, the thieves don't want rule of law? About disclosure rules, he said that "Had there been full disclosure of what was being done in furtherance of these schemes, they could not long have survived the fierce light of publicity and criticism. Legal chicanery and pitch darkness were the banker's stoutest allies." Think about who are their allies today.
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/kulo5kk756171.jpg?width=354&format=pjpg&auto=webp&s=89e834a1f13f04b2d889fdc66e9156d0bab67db1)](https://preview.redd.it/kulo5kk756171.jpg?width=354&format=pjpg&auto=webp&s=89e834a1f13f04b2d889fdc66e9156d0bab67db1)
+
+Irving Pollack- Father of the SEC Division of Enforcement
+
+1985 Irving Pollack
+
+Fast forward about half a century. With the support of friends in Congress, Wall Street has neutered the securities acts by assuring the SEC would not enforce them. It made sure its foxes were guarding the henhouse. But the corruption was sometimes inconvenient. In 1985, the National Association of Securities Dealers, now FINRA, which represents the brokers, hired Irving Pollack, a former SEC commissioner who was honest, to look at short selling. Among his report's proposals: reporting of short interest -- the amount of short sales not yet covered -- should be public and perhaps more frequent. A borrowing for delivery in broker-dealer transactions should be required. A mandatory buy-in should be adopted for a delivery after a reasonable period when there has been a fail. That means the broker for the buyer who hasn't gotten the shares can buy them on the market and charge the short seller's broker. There should be surveillance of large short-interest positions, shorts not yet covered.
+
+Did the SEC adopt these proposals with enthusiasm? Obviously not. Short interest is not reported frequently. Broker dealers "locate" instead of borrow or they use counterfeit shares. There's no buy-in. Buy-ins were allowed but not required. And Leslie Boni, an academic who in 2004 did a paper for the SEC on buy-ins said they were rare. But requiring buy-ins would make the stock go up, the shorts lose money.
+
+And there was no surveillance of large short-interest positions.
+
+In fact, corruption would be increased thanks to friends of Wall Street president Bill Clinton and his collaborator Treasury Secretary Robert Rubin (formerly of Citibank) who in 1999, killed the Glass-Steagall Act which had separated investment banking from retail banking. Retail banks till then could not use depositors' funds for risky investments. Only 10% of their income could come from selling securities.
+
+That sets the stage for the last few decades.
+
+2004 RegSHO set up to fail
+
+The SEC, battered with complaints, in July 2004 promulgated Reg SHO, SHO for short selling. The hedge funds and big brokers who had been or would be shown to be illegally shorting all lobbied against it. It was a tepid reform of short selling that was Swiss-cheesed with loopholes. Think of Al Capone writing the tax laws. (On the other hand, his crooked progeny do write the tax laws!) Reg SHO would be implemented in 2005
+
+The SEC knocked out a proposal for penalties for failing to deliver.
+
+And it wrote two giant exceptions into Reg SHO. Ex-clearing and market makers.
+
+The rule didn't apply to ex-clearing, which means clearing outside the DTCC, The Depository Trust Clearing Corporation, the national stock clearing company. (Yes, it's a private company owned by the broker dealers) It applied only to trades going through a registered clearing agency, i.e. what got sent through the DTCC. It said ex-clearing was "rare."
+
+Sales that avoided clearing agencies could fail -- not be delivered -- without buyers' brokers reporting the fails to the DTCC or buying in, requiring the short sellers broker to buy shares on the market and deliver them. To protect short sellers and avoid Reg SHO, dealers went ex-clearing. They either cleared internally or with a cooperating broker-dealer or they went through dark pools. They were private exchanges set up by the big prime brokers and banks.
+
+The major perpetrators are the large banks, doing it for large clients, hedge funds, or their own accounts. If they can do the transaction privately [ex-clearing], RegSHO doesn't apply. Now about 40% of trades go through dark pools. *If a trade failed ex-clearing, it didn't fail at the DTCC!*
+
+Reg SHO also didn't apply to derivatives, the financial casino bets acknowledged as a prime cause of the current economic crisis and which also did not trade through a clearing house.
+
+Even stocks that cleared through the DTCC were not always covered. The brokers got a "grandfather clause" that allowed existing fails to continue! Because we know that brokers simply rolled them over. And brokers didn't have to close out the shares they had sold short before the stock went on the Threshold List which includes shares that for five consecutive settlement days had fails to deliver of 10,000 shares or more at a clearing agency and where the level of fails was equal to at least one-half of one percent of the issuer's outstanding shares.
+
+Then brokers were subject to mandatory covering only on the fifth day. Then the broker-dealer had 13 days to deliver the shares to the buyer or lender, and if it failed to do so, it could not trade that stock until it did. But the SEC knew, because staff wrote a paper on it, how options conversions allowed brokers to put off fail dates forever.
+
+MARKET MAKERS
+
+RegSHO allowed an options market maker exception, called after the person who designed and pushed for it: the Madoff Exception! (Did I say the crooks wrote the rules?)
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/ndifb6fvk6171.png?width=1482&format=png&auto=webp&s=4b96285ed2e17c6fa057802f34861c4c532400c0)](https://preview.redd.it/ndifb6fvk6171.png?width=1482&format=png&auto=webp&s=4b96285ed2e17c6fa057802f34861c4c532400c0)
+
+Bernie Madoff, who died in prison in Apr 2021
+
+In prison in 2012 Madoff told Forbes journalist Diana Henriques: "I fell into my crime of staying Naked Short. The fact that the prosecutor and Trustee seemed clueless of this is why my frustration is so great." Clueless, or complicit? You just don't go there.
+
+The SEC in 2007 eliminated Uptick Rule that requires short sales to be conducted at a higher price than the previous trade. Not helpful if the purpose is to batter down the stock price. It was never enforced.
+
+2008 Stock lending and taking care of the banks
+
+According to the SEC Office of Economic Analysis (2008) Reg SHO in effect since 2005 had not reduced outstanding fails. Many stocks remained on the SEC Regulation SHO Threshold List for hundreds of trading days
+
+For years, the SEC claimed naked short selling and fails to deliver were not a problem. Once things began to go sour in 2008, the first thing the SEC did was ban naked short selling in 17 financial stocks plus Fannie and Freddie. It was ironic, since the big banks/brokers had been carrying out the scam on others. Hoist on their own petard.
+
+And they chose the solution that people battling naked short selling had advocated for years. A July 2008 order said no traders could make trades involving those institutions unless they had pre-borrowed the security or otherwise had it available in their inventory. They had to deliver the security on the settlement date. Borrow shares before you sell them short. Stop the counterfeiting. All the regs that came out were because naked shorting, the counterfeiting of shares, was undermining banks. The SEC went from nothing is happening till the fall of 2008 that the market coming apart because of naked shorting. They chose the solution that people battling naked short selling had advocated for years. Borrow shares before you sell them short. Stop the counterfeiting.
+
+The SEC said it was investigating the collapse of Bear Stearns. It had been massively naked shorted. The SEC didn't come up with anything.
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/jca68d5g56171.jpg?width=330&format=pjpg&auto=webp&s=741e78b0f0b0ac9ab85b0f27f872316eabbca976)](https://preview.redd.it/jca68d5g56171.jpg?width=330&format=pjpg&auto=webp&s=741e78b0f0b0ac9ab85b0f27f872316eabbca976)
+
+Ted Kaufman- former US Senator, Delaware
+
+2009 Kaufman and the hard locate
+
+A little-known backstory involved former Delaware Senator Ted Kaufman who ran Biden's post-election transition team. It shows how big stock market players and the institutions they control have blocked attempts to deal with naked short selling. Kaufman was Biden's longtime chief of staff, and was named to the Senate seat vacated by his boss when Biden became Barack Obama's vice president.
+
+After the 2008 market meltdown that included abusive naked short selling of Bear Stearns and Lehman Brothers, Kaufman, a Democrat, and Georgia senator Johnny Isakson, a Republican, introduced legislation that directed the SEC to write regulations to end the practice. They determined that the SEC's current regulations were unenforceable. Hedge funds could spread rumors, do massive shorts without locating stocks, and deliver after the prices dropped.
+
+In July 2009, Kaufman and six colleagues from both parties wrote to the SEC, proposing a "hard locate" plan that would ban all short sales unless the executing broker first obtained a unique identification number for the shares, perhaps through an automated centralized system. This would prevent multiple short sales on the basis of a single share.
+
+According to Jeff Connaughton, then Kaufman's chief of staff, months before the letter, "the DTCC (the national stock clearing agency) had gone to the SEC with a proposed solution to naked short selling that looked like Kaufman's solution, with the DTCC creating a centralized database that would prevent the same shares from being used for multiple short sales.
+
+The DTCC told Connaughton, 'We got pulled back.' They meant, he said, by their board, by the Wall Street powers-that-be." Because in the case of the DTCC as well as the SEC, the fox is guarding the henhouse.
+
+In 2009 staffers of the Senators met with the SEC's Enforcement Division to find out the status of its investigation into the naked short selling of Bear Stearns and Lehman stock. SEC lawyers told them they'd have to be patient and that the investigation would take at least another year. It never happened.
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/m6a9h2jl56171.png?width=263&format=png&auto=webp&s=4074499e1301f9ad2712d1a806d20a0383873fa2)](https://preview.redd.it/m6a9h2jl56171.png?width=263&format=png&auto=webp&s=4074499e1301f9ad2712d1a806d20a0383873fa2)
+
+Ted Kaufman as long time advisor to the current President
+
+2010 Kaufman continued to try to fight naked short selling in the Dodd-Frank debate. SEC had been ordered by the Dodd-Frank law of 2010 11 years ago to require more transparency in short selling and stock lending. It has ignored it.
+
+There were some alleged improvements made that year, 2008.
+
+The market makers exemption was eliminated, because the SEC said substantial levels of fails had continued in Threshold securities, and a significant number were the result of market maker exceptions. But they still had 6 days to settle their trades. So you have market makers failing and rolling their shares over every 5 ½ days.
+
+The grandfather provision on Threshold securities was eliminated. Unless its position in Threshold securities was closed, a broker-dealer couldn't effect further shorts in them without borrowing or arranging to borrow the securities. Don't worry, they finessed that.
+
+The amendments addressed fake borrows. It said that where a broker-dealer entered into an arrangement with another party to purchase or borrow securities, and the broker-dealer knew or has reason to know that the other party would not deliver securities in settlement of the transaction, the purchase or borrow would not be *"bona fide."*
+
+It repeated that: "The NSCC - clears and settles the majority of equity securities trades conducted on the exchanges and in the over-the-counter market."
+
+So the rules still didn't apply to ex-clearing and dark pools. So the ex-clearing route to naked shorts was protected. fails could be concealed at the start by ex-by not reporting them to the NSCC, the National Securities Clearing Corporation.
+
+In fact, the dealers could use ex-clearing to opt out of fails from trades through the exchanges. They could take them onto their own books and deal with the fails as they chose to, meaning do nothing, let the fails sit*.*
+
+And protecting the interests of the big banks/brokerages, the SEC did not include a hard locate requirement in its amendments to Reg SHO.
+
+But the SEC occasionally takes enforcement actions that go after low-hanging fruit, ie don't bother anyone significant or don't order more than minor penalties, the cost of doing business.
+
+2003 Sedona/Badians
+
+The Sedona case, where the Badian brothers ran a death spiral financing scheme that in 2001 involved providing a loan that would be repaid in shares. And then it did a massive shorting attack that knocked down the price of the shares from $6 to 20cents. the SEC in February 2003 filed a complaint against Thomas Badian and his company, Rhino, for fraud and market manipulation of Sedona shares. Badian and Rhino immediately settled with the SEC for a $1-million fine without admitting or denying guilt. The $1 mil was a pittance, cost of doing business.
+
+In 2006, the SEC filed a civil suit against Andreas Badian, four officials of Pond Equities and a trader at Refco, all involved directly in the naked shorting, but not against Ladenburg, the high-profile broker-dealer that facilitated the deals and collaborators.
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/fqrt6qam66171.jpg?width=960&format=pjpg&auto=webp&s=f91e36651dc8f18ba0e83a6e77d3bc079b718f3c)](https://preview.redd.it/fqrt6qam66171.jpg?width=960&format=pjpg&auto=webp&s=f91e36651dc8f18ba0e83a6e77d3bc079b718f3c)
+
+2005 Eagletech
+
+Eagletech, which had an invention, new at the time, to push phone calls to other devices. letting people to usee a single phone number that followed them from phone to phone. He became a target of a group of death spiral financing criminals working with Salomon Smith Barney in New York five Salomon officers and a group of investors offering to buy convertible preferred shares from Eagletech for up to $6 million
+
+They did a pump up and then naked shorting so the stock dropped from $14 to 75 cents, reducing the market value by $113 ml. The stock went to 2 cents. The FBI was investigating. They busted 17 members of organized crime, including the crooks that ran the scheme against Eagletech.
+
+SEC filed suit against Serubo, Labella and organized crime collaborators who ran the corrupt operation that got control of stock of Eagletech. It said they generated in excess of $12.7 million from the sale of Eagletech stock. Members of his Salomon Smith Barney financing team and their options market-makers in Chicago were selling shares and then failing to deliver.
+
+Serubo, Labella and organized crime collaborators would be banned from penny stock trading and pay back the ill-gotten gains and fines. I couldn't find any penalties against the Salomon Smith Barney team or their options market maker collaborators.
+
+Then the SEC filed suit against the victim, Eagletech, to deregister its shares because it couldn't afford several hundred thousand dollars to file audited financial reports. The delisting is like a bankruptcy, all investors are wiped out and the naked shorters never have to cover. The SEC finished what the mob started, it killed the company.
+
+2007 Goldman
+
+From at least March 2000 to May 2002, that's more than 2 years, certain customers of Goldman Clearing used the firm's direct market access, automated trading system to unlawfully sell securities short in advance of follow-on and secondary offerings when they could get the shares cheaper.
+
+Although they were selling the offered securities short, used Goldman Clearing's direct market access, automated trading platform, the REDI System, preparing their own orders to sell on computer terminals and falsely marked them "long." The orders were routed directly to the New York Stock Exchange and other markets for execution.
+
+Goldman Clearing's own records contained information that Customers were selling securities short and that they were misrepresenting their "short" sales as "long". Goldman Clearing's records showed that the customers were repeatedly failing to deliver to Goldman Clearing the securities that they purported to sell long.
+
+So for two years of allowing shorts to be marked longs, Goldman had to pay civil money penalty of -- wait for it -- $1 million
+
+2012 SEC v OptionsXpress
+
+OptionsXpress, a wholly-owned subsidiary of Charles Schwab repeatedly engaged in sham transactions, known as "resets," designed to give the appearance of having purchased shares to close-out an open failure-to-deliver position while in fact not doing so.
+
+OptionsXpress had its customers buying shares and simultaneously selling call options that were the equivalent of selling shares short. The purchase of shares created the illusion that the firm had covered the short; however, the shares were never actually delivered to the buyers because on the same day, calls were exercised, effectively reselling the shares. The purpose was to perpetuate an open short position.
+
+In 2009, the six optionsXpress customer accounts bought $5.7 billion worth of securities and sold short approximately $4 billion of options. They did this to a couple of dozen companies. In January 2010, the customers who did the scam accounted for 48% of the daily trading volume in Sears. In the end OptionsXpress had to pay $4 million. Cost of doing business.
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/si49uknr56171.jpg?width=206&format=pjpg&auto=webp&s=56bf1d0512b8fdfc9e42c662d506fd8bc85c821f)](https://preview.redd.it/si49uknr56171.jpg?width=206&format=pjpg&auto=webp&s=56bf1d0512b8fdfc9e42c662d506fd8bc85c821f)
+
+Gary Aguirre- Former Investigator for SEC & Whistleblower
+
+The insiders tell the SEC corruption
+
+The story of Gary Aguirre says it all
+
+As a student at Georgetown Law School, Aguirre got a prize from the SEC for paper on Wall Street corruption as detailed in the Pecora hearings that led to passage of the Securities Act of 1933. So we know where he stands. In September 2004, he started as a senior counsel at the SEC Division of Enforcement. He said, "I understood what SEC was supposed to be doing: keep Wall Street from running amok. The SEC in July had promulgated Reg SHO, which it said would stop abusive naked short selling. He recalled, "The first thing I noticed is there seemed to be a deference to the large law firms who represented Wall Street players. And there were a lot of people there not at the same skill set level as the attorneys representing some of the players from Wall Street.
+
+Aguirre was assigned to an investigation that implicated a powerful Wall Street insider. John Mack had been head of the hedge fund Pequot Capital Management. The suspicion was that Mack had tipped Pequot's then CEO, Arthur Samberg, of General Electric's pending acquisition of Heller Financial. Mack was the only suspect. Without that investigation, the SEC would never be able to even consider the filing of insider trading charges against Mack, Samberg, Pequot or anyone else arising out of Pequot's trading in GE and Heller
+
+Aguirre refused to stop his investigation; Senior officials within the SEC's Division of Enforcement blocked an SEC subpoena seeking Mack's testimony and records in the investigation. Aguirre had contacted the Office of Special Counsel to discuss the filing of a complaint about the SEC's protection of Mack. Three days later, while on vacation, Aguirre was abruptly fired without warning on September 1, 2005, he was fired by phone.
+
+An SEC official told him it would be very difficult to take Mack's testimony because of his political influence. He told him that Mack was "an industry captain," that he had powerful contacts . . . , that Mary Jo White could contact a number of powerful individuals, any of whom could call Linda about the examination. Mary Jo White was a lawyer at a Wall Street firm, Linda was Linda Thomsen, the head of enforcement. Aguirre confirmed the conversation in two e-mails to the official the next morning. The first email referenced Ferdinand Pecora.
+
+Aguirre gave key papers to Charles Grassley on the Senate Finance Committee. And to the Judiciary Cmte. There were hearings in 2006.
+
+He told Congress that an SEC official told him it would be very difficult to take Mack's testimony because of his political influence. The official told him Mack was "an industry captain," that he had powerful contacts . . . , that Mary Jo White could contact a number of powerful individuals, any of whom could call Linda about the examination. Mary Jo White was a lawyer at a Wall Street firm, Linda Thomsen was head of enforcement.
+
+He said the SEC "favor" to Mack cleared the way for his return on June 30, 2005, as Morgan Stanley's CEO with no danger of an SEC lawsuit for insider trading. Mary Jo White would become chair of the SEC 2013 to 2017, appointed by Wall Street's favorite guy, Barak Obama, who apparently didn't know the Aguirre story.
+
+Later David Kotz, the SEC's inspector general, said he had found evidence that "raised serious questions about the impartiality and fairness" of the SEC's investigation of possible insider trading at the Pequot Capital Management hedge fund.
+
+Kotz also condemned what he called the "common practice" of giving outside lawyers' clients access to high-level SEC officials when they had complaints about front-line investigators. Kotz made numerous recommendations for reform, which the SEC ignored.
+
+Aguirre sued the SEC and won ¾ of million $ in back pay and damages.
+
+Mack, after being CEO Morgan Stanley, became CEO of Credit Suisse, then chair of Morgan Stanley and now is senior advisor to the global investment firm Kohlberg Kravis Roberts, whose strategic partners are hedge funds.
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/odru363cqa171.jpg?width=200&format=pjpg&auto=webp&s=852f95acbb1d5354e65c9f6b1fc32c131c93a32a)](https://preview.redd.it/odru363cqa171.jpg?width=200&format=pjpg&auto=webp&s=852f95acbb1d5354e65c9f6b1fc32c131c93a32a)
+
+Mark Fickes
+
+2005 Fickes and Overstock, Chris Cox
+
+Here's another case of an SEC staffer who tried to do the right thing but was pulled back. In August 2005, Overstock.com filed suit against hedge fund Rocker Partners and the equities research firm, Gradient Analytics saying they illegally colluded in short-selling the company while paying for negative reports to drive down share prices.
+
+Byrne took his information to the SEC. Mark Fickes of the SEC San Francisco office. He said, "Look at the patterns, their stocks are naked shorted by Dan Loeb, David Einhorn, Steven Cohen, David Rocker. [Look at] the dates journalists Bethany, Boyd, Remond, Greenberg wrote trash jobs. [that was Bethany McLean writing for Fortune, Carol Remond for Dow Jones, Roddy Boyd for the NY Post, Herb Greenberg for MarketWatch] Byrne said, "It was the same pattern, each one of these one of these journalists writes a hatchet job, there is naked shorting, SEC action begins against them, and the Milberg Weiss lawsuit. In every case, it's part of same bum rush on the stock."
+
+Byrne argued that Gradient, an investment advisor which was putting out fraudulent reports the shorters used, should be investigated -- and that the journalists were central to his case. The subpoenas were issued to Carol Remond and Herb Greenberg to provide information about conversations that they had with stock traders and analysts.
+
+Fickes issued the subpoenas with the approval of the SEC's head of enforcement, Linda Thomsen. It was announced that the SEC was investigating Gradient and had issued subpoenas to Carol Remond, Herb Greenberg and to Jim Cramer of TheStreet. David Rocker sold his shares in TheStreet. A month later Cramer sold some of his shares.
+
+Bryne: "Jim Cramer gets a subpoena; you have three days to disclose it. He knows TheStreet will crater, he can't just go sell it with undisclosed material information. He can get a plan to sell x amount per quarter after he gets the subpoena. TheStreet broke under a dollar."
+
+"Why would a hedge fund guy have an interest to own a financial publication? Cramer discloses in his books stuff that is widely illegal. Protection for journalists is about protecting sources about stories they are writing, not about their own corrupt market manipulation."
+
+The question is whether freedom of the press extends to reporters whose articles are part of illegal naked short selling scams. Fickes wanted to know.
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/s650tr5z56171.jpg?width=330&format=pjpg&auto=webp&s=e085154954818611d3c78b7b0ed95a00a02303c7)](https://preview.redd.it/s650tr5z56171.jpg?width=330&format=pjpg&auto=webp&s=e085154954818611d3c78b7b0ed95a00a02303c7)
+
+Chris Cox- Former SEC Chair
+
+He was summoned to Washington to meet with the new SEC chair, Cris Cox. Ultimately, Byrne said, the SEC caved under the media pressure. Cox killed the subpoenas and the SEC dropped its investigation of Gradient. Cox was SEC chair when Gary Aguirre was fired.
+
+What should the SEC do now? Solutions are there if it wants to protect investors, not do as it is told by the big broker-dealers.
+
+-   Require buy-ins. Require the broker of the investor who doesn't get shorted stock delivered to buy it on the market and charge the seller's broker. Of course, requiring buy-ins would make the stock go up, the shorters lose money.
+
+-   Restore the uptick rule so shorters can't sell for less that the last shorted trade. That would stop shorters hammering a stock down to bankruptcy.
+
+-   Create a consolidated audit trail (CAT) to collect order and trade execution information to identify and enable punishment of illegal trading activities, including naked short selling. More than a decade after the SEC promised it, following the 2010 flash crash, CAT doesn't exist.
+
+-   Impose real penalties on transgressors, like loss of license.
+
+-   Send cases of serial trading cheats to the Justice Department for criminal prosecution.
+
+-   End the revolving door with Wall Street.
+
+-   What will Gary Gensler do? And will he listen most to the pushback from the big brokers or investors like people on Superstonk?
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/8x1el37566171.jpg?width=988&format=pjpg&auto=webp&s=296865c7cefe2fbb38b2ce25f4e6730bb498fa2a)](https://preview.redd.it/8x1el37566171.jpg?width=988&format=pjpg&auto=webp&s=296865c7cefe2fbb38b2ce25f4e6730bb498fa2a)
+
+Gary Gensler- Current SEC Chair
+
+_____________________________________________________________________________________
+
+Questions
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/wwox8t4896171.jpg?width=998&format=pjpg&auto=webp&s=01378e780fc8c6f174a6c840b76132b2b9e33c1e)](https://preview.redd.it/wwox8t4896171.jpg?width=998&format=pjpg&auto=webp&s=01378e780fc8c6f174a6c840b76132b2b9e33c1e)
+
+-   You mentioned in your last interview that NSS has been going on for a very long time, but that it ends with Gamestop. Can you clarify further *how* you see this ending with Gamestop?
+
+>LK: I meant the story I tell in the book I am writing ends with GameStop. NSS goes on.
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/x8tcjb0m96171.png?width=1234&format=png&auto=webp&s=051d06480a45392f1cf48bd7579fc85a6f609447)](https://preview.redd.it/x8tcjb0m96171.png?width=1234&format=png&auto=webp&s=051d06480a45392f1cf48bd7579fc85a6f609447)
+
+-   Understanding that this is an unprecedented situation, we would simply like your personal opinion: Do you think that Wall Street/ US Gov't could/would pull some "trickery" to prevent the short squeeze from happening? What rules are they unable, or unwilling to break?
+
+>LK: We saw in GameStop trickery using dark pool trades of single shares. We know -- even the SEC admits -- that brokers create fake options conversions shares. They will break every rule, helped by the SEC which chooses not to enforce or orders mild penalties.
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/6prc9two96171.jpg?width=1079&format=pjpg&auto=webp&s=5901203d74c13d3f0177dc484a6838a6b62a12e6)](https://preview.redd.it/6prc9two96171.jpg?width=1079&format=pjpg&auto=webp&s=5901203d74c13d3f0177dc484a6838a6b62a12e6)
+
+now i want to play stardew valley
+
+-   What is your recommendation for finding a trustworthy, easily digestible news source for those of us who "don't have the time" to watch full hearings or read full bills?
+
+>LK: Depends on the subject. An aggregator I like is Naked Capitalism which has a lot of economic stories. The Daily Poster of David Sirota. I think the American Prospect that ran my NSS story is good. You have to try various online media to find the ones that do what your asking.
+
+[![r/Superstonk - POST AMA DD- Lucy Komisar AMA powerpoint and partial script](https://preview.redd.it/iosfnjcv96171.jpg?width=1080&format=pjpg&auto=webp&s=dc409dc5f02241f1aa8d009096fcb65758e029a9)](https://preview.redd.it/iosfnjcv96171.jpg?width=1080&format=pjpg&auto=webp&s=dc409dc5f02241f1aa8d009096fcb65758e029a9)
+
+*For clarification- The Hearings will be held: by U.S. Senate Committee on Banking, Housing, and Urban Affairs on May 26, and by the U.S. House Committee on Financial Services on May 27.*
+
+-   Congress has 2 hearings scheduled this week that are bringing megabank execs up to testify. In your opinion, will the correct questions be asked, or do you believe this is just political theatre?
+
+>LK: It's political theater. This is the same congress that has not reinstated the Glass -Steagall act of 1933 that separated commercial and investment banking, meaning keeping depositors' money from being used for banks own investments. thanks to Bill Clinton and Robert Rubin, the friends of Wall Street. You can tie the 2008 crash to that.
+
+_________________________________________________________________________________________________
+
+Thank y'all again for being so awesome through technical difficulties!! The show must go on, right?
+
+Thanks again to Lucy Komisar for joining us for a second time. Lucy will be back next Wednesday to speak with Wes Christian. Details to come in tomorrow's Jungle Beat! Be sure to follow [u/theJungleBeat](https://www.reddit.com/u/theJungleBeat/) so you catch the latest news from around Superstonk, every day at market close!
+
+I did speak to Lucy on the phone tonight and we agreed to both have a glass of wine in honor of Supertonk. And she said she will be sure to charge her iPad ;) 🥂

Confirmation-Bias-and-Discussion/2021-05-19-Theory-The-SLGG-Merger-is-Happening-Potentitally-Launching-MOASS.md

@@ -0,0 +1,112 @@
+Theory: The SLGG merger IS happening, it's a MOASS launching button and RC has been pointing it out for a long time (TODAY AS WELL ♥)
+=====================================================================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/pepsodont](https://www.reddit.com/user/pepsodont/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/ngdwjj/theory_the_slgg_merger_is_happening_its_a_moass/) | 
+
+---
+
+[Opinion 👽](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Opinion%20%F0%9F%91%BD%22&restrict_sr=1)
+
+I think it might be apparent from my posts now that I'm not wrinkle-brained in financials, chart reading and other ~~boring~~ important stuff but I like finding patterns. I've been working as a psychologist and a marketer for a long time, so believe me when I tell you there's a lot to be uncovered by understanding behavior patterns or just patterns of things that look unrelated, but really aren't.
+
+Some people call it far-reaching, tinfoil, confirmation bias, whatever - but check my post history and you'll see I've been more right than wrong.
+
+As one of the veteran apes wrote in a comment in here once: "One weird thing happening is a coincidence, two is enemy action".
+
+So with that in mind, let's check out why I think this is a pattern (not a coincidence) which is pointing into Gamestop merging with SLGG after all. Yes, even after we forgot about it because we thought it was a nothingburger.
+
+Once again - this is a "tinfoil" theorycrafting. Don't go into comments telling me that, I KNOW. Get in here to get your tits jacked and drink up on confirmation bias. Alright, retards?
+
+1\. Gamestop changing its logo
+
+Today, apes started reporting Gamestop changing its logo from "Gamestop" to just "GS" on WeBull. We also saw a changed logo on their astronaut tweet.
+
+[![r/Superstonk - Theory: The SLGG merger IS happening, it's a MOASS launching button and RC has been pointing it out for a long time (TODAY AS WELL ♥)](https://preview.redd.it/rt1hpjcyo5071.png?width=591&format=png&auto=webp&s=b62b363068dbe4a36e486f62cfa77e83dffec0b1)](https://preview.redd.it/rt1hpjcyo5071.png?width=591&format=png&auto=webp&s=b62b363068dbe4a36e486f62cfa77e83dffec0b1)
+
+There's no reason to do it unless you're planning on changing that logo - if they wanted it shorter, they could've gone for "GME" which is standard and everybody knows it.
+
+Conclusion: It looks like Gamestop is signaling a logo change. When do you usually change a company's logo? When the company goes through a transformation, maybe a merger.
+
+2\. The astronaut is drinking Carlsberg beer which underwent a notable merger recently
+
+We thought that the Carlsberg beer was a nod to our AMA with Carl Hagberg, but was it really?
+
+Just google "Carlsberg" and "merge" - [one of the biggest merges in the last year](https://www.bighospitality.co.uk/Article/2020/10/30/Carlsberg-and-Marston-s-merger-completes) with Marston's taking a smaller position of 40% despite their much more superior valuation with difference in 380 million of british pounds.
+
+3\. A merger would put GME shares on the moon, it's a fucking launch button
+
+If you don't know, I'll tell you something juicy. If, theoretically, Gamestop were to merge with another entity (RC Ventures, SLGG) and decided on changing their name even slightly, they would get a new stock market ticker.
+
+That would initiate a mother of all share recalls since ALL the issued shares would have to be taken in for ~~questioning about Kenny's mayo habits~~ a reissuance - which means all the lent shares would be requested back and the naked ones would have to be bought at market price. That would initiate the MOASS.
+
+4\. Gamestop has a brand new official esports Twitter page
+
+If you create an esports Twitter page, you probably want to start dabbling in esports, right? But damn, it's fucking hard for a transforming company to just start an esports division on their own from scratch, where would they even begin? They didn't even hire key managers for this, so how are they gonna navigate through these salty waters?
+
+Well, the industry standard for companies who want to enter a new market and have cash is to simply BUY A COMPANY THAT SPECIALIZES IN THAT MARKET.
+
+Boy, would it be fortunate if such a company was aro....oh fuck me Ryan, where exactly were you a few weeks ago?
+
+5\. RC was near SLGG HQ and he tweeted about it
+
+[![r/Superstonk - Theory: The SLGG merger IS happening, it's a MOASS launching button and RC has been pointing it out for a long time (TODAY AS WELL ♥)](https://preview.redd.it/o9lwxqvcp5071.png?width=1507&format=png&auto=webp&s=f08bd9a69f46f5094c7a85985d2c316db526603a)](https://preview.redd.it/o9lwxqvcp5071.png?width=1507&format=png&auto=webp&s=f08bd9a69f46f5094c7a85985d2c316db526603a)
+
+Why would you pinpoint where you are Ryan?
+
+[![r/Superstonk - Theory: The SLGG merger IS happening, it's a MOASS launching button and RC has been pointing it out for a long time (TODAY AS WELL ♥)](https://preview.redd.it/puf08k8fp5071.png?width=967&format=png&auto=webp&s=77f5e8eac8974c2b6d58f82e5dfd08a480b4e737)](https://preview.redd.it/puf08k8fp5071.png?width=967&format=png&auto=webp&s=77f5e8eac8974c2b6d58f82e5dfd08a480b4e737)
+
+Oh that's why!
+
+6\. RC tweeted an ice-cream and a frog pointing at Ann Hand, CEO of SLGG
+
+[![r/Superstonk - Theory: The SLGG merger IS happening, it's a MOASS launching button and RC has been pointing it out for a long time (TODAY AS WELL ♥)](https://preview.redd.it/yvw3kl3ip5071.png?width=603&format=png&auto=webp&s=bd5b09f8fcc79eca28bbe14cbe22cc5938bd9a36)](https://preview.redd.it/yvw3kl3ip5071.png?width=603&format=png&auto=webp&s=bd5b09f8fcc79eca28bbe14cbe22cc5938bd9a36)
+
+I was there, 3000 years ago...
+
+Yeah, the famous ice-cream and a frog tweet. I don't think any of the theories as of to its significance paid off so let me offer one of the less popular ones.
+
+Check out where did Ann Hand, the CEO of SLGG work before.
+
+[![r/Superstonk - Theory: The SLGG merger IS happening, it's a MOASS launching button and RC has been pointing it out for a long time (TODAY AS WELL ♥)](https://preview.redd.it/7swu9s1pp5071.png?width=796&format=png&auto=webp&s=3d421bcdf96bf5f2ca0faeb564c0f6ba0ad82088)](https://preview.redd.it/7swu9s1pp5071.png?width=796&format=png&auto=webp&s=3d421bcdf96bf5f2ca0faeb564c0f6ba0ad82088)
+
+Coincidences, huh?
+
+7\. He tweeted "love" recently and a heart / love today (probably completely wrong, check EDIT)
+
+Why repeat the same sentiment Ryan? What's so important about love? Are you just sending positive vibes our way? You never did this before, why would you start now, without reason?
+
+My personal opinion on this is that the grandma tweet didn't work the way he wanted to - maybe it was a funny coincidence it worked so well with lyrics saying hold me hold me squeeze me or maybe he didn't realize. After all, he never tried decrypting his tweets in song lyrics so I don't think it was intentional.
+
+Did you guys realize how fast this tweet came? It's almost like "yeah, but I wanted to tell you something else".
+
+By going with that theory - what does "love" usually mean? Love, sex, all that stuff - isn't it a merger between 2 people usually? Hmmm? HMMMMMMM?
+
+I know many people will say "tinfoil", "far-reaching", "reaching", "speculating", blahblah, miss me with that noise. No shit this is a speculation, there's nothing else to do with it.
+
+But that's how investigation works. You create a hypothesis, a theory and later you'll see if you were right or not. For me personally, these things are adding up too nicely for them to be "just coincidences" or "glitches" or shit.
+
+No, this is a pattern.
+
+Could I be wrong? Most likely. But it's the best we got imo. Have fun jacking them tits to this motherload of confirmation bias! 🚀🚀🚀🚀🚀🚀
+
+*- Jacques Le Titz*
+
+EDIT: It came into my attention that the heart ❤️ tweet would be much simpler to explain with "hedgies are on their last life". I'm a big fan of Occam's Razor, so I'm going to go with it - the grandma tweet has therefore been decrypted nicely and "love" isn't the concept he's going for!
+
+I also like the theory it's a < and 3, which means "less than 3" weeks to the meeting. Theorycrafting is fun!
+
+EDIT 2: Ugh, because I probably should've seen it coming - no people, I'm not encouraging anyone to buy SLGG. The only position I have is GME, because that's the only play.
+
+But if you want to I mean, sure, I'm pumping it and then dumping with a fucking tinfoil hat theory, Jesus. I have the dump button right before me and it's big and red (that's what she said). SMH
+
+EDIT 3 because of course: Guys, please, be careful about buying SLGG. People are already going apeshit (haha) on me that this is a pump and dump post since Citadel is long on SLGG.
+
+That fact alone doesn't mean anything since Shitadel is long on thousands of stocks and they could expect GME to do exactly what I've been saying and maybe they want to block them by voting against or they wanna ride the wave, I don't know. Nobody knows. Just...fuck other stocks except GME okay?
+
+It's also up by 15% or so AH so yay for the power of Superstonk I guess?
+
+EDIT 4: No I don't have a damn clue what's going on with the All Seeing Awards. Maybe DFV's mouse button got stuck and he needs help with the mouse since he's not a cat?
+
+EDIT 5: For those who STILL don't believe this is an organic post, here are the screenshots ( <https://i.imgur.com/naiRTJP.png> and <https://i.imgur.com/f3CEioL.png> ) of how the idea originated in our private Discord and that should be the end of it or I swear to Wendy's tendies I will turn into a vibrator from so much shaking of my head.

Confirmation-Bias-and-Discussion/2021-05-22-Every-Apes-Gets-Paid.md

@@ -0,0 +1,42 @@
+Every ape gets paid. A look at the numbers.
+===========================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/Themeloncalling](https://www.reddit.com/user/Themeloncalling/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nihl31/every_ape_gets_paid_a_look_at_the_numbers/) | 
+
+---
+
+[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
+
+TL;DR: Apes can get tendies. No doomsday for world economy. Ook ook. 🚀 🚀 🚀
+
+Who pays the apes?
+
+Let's take a look at the chain of failures. Short hedgies go broke trying to pay the apes with shares. Their positions are transferred to their creditors, the big banks. What happens when they don't have enough money? They go to the lender of last resort, in this case, the Federal Reserve. Here's a video on it:
+
+<https://www.youtube.com/watch?v=Tb4Dkf5puJg>
+
+The last time this happened was in 2008, when among others, AIG latched onto the Federal tit for a massive bailout and later paid hundreds of millions in bonuses to the very department that triggered the bailout. Seriously, this happened: <https://en.wikipedia.org/wiki/AIG_bonus_payments_controversy>
+
+If any of you XX or higher shareholders out there are holding past $218 million in payouts as a symbolic gesture, just remember, you deserve it more than AIG. Anyone who says otherwise can go play leapfrog with unicorns.
+
+How much will the Fed need to print?
+
+According to this DD on Geometric Mean: <https://www.reddit.com/r/GME/comments/m9td6w/estimations_for_the_total_payout_of_gme_based_on/>
+
+Around 5 trillion dollars at the $20 million a share range, averaged out for paper hands along the way. Assuming that 20% of the ownership is outside of America, that leaves 4 trillion going into the domestic economy. But wait! Taxes. 2 trillion goes to apes, 2 trillion goes to the treasury. If I was the ruling party, 2 trillion dollars with no strings attached to advance my party's interests would be pretty sweet, another reason why doing nothing is the best approach. The budgetary spending for 2020 was 4.79 trillion dollars. This windfall would be worth around 41.8% of their budget. Imagine if the government was an average person, 41.8% of what they spend for the year is a small jackpot but not life changing. It is definitely not enough to be considered hyperinflation. Assuming that 80% of this subreddit is American shareholders, this works out to be 240,000 shareholders / 331 million people = 0.0725% of the population. Spreading the payout around such a small group of people will not have a huge effect on the consumer price index or put a lot of pressure on demand, unless you are considering fringe categories like Lambos and McLarens.
+
+Won't all this money ruin the economy?
+
+NO! According to the Fed data gathered by Forbes, the top 1% of Americans have a combined net worth of 34.2 trillion dollars: <https://www.forbes.com/sites/tommybeer/2020/10/08/top-1-of-us-households-hold-15-times-more-wealth-than-bottom-50-combined/?sh=5b0c5c835179>
+
+The top 1% own 43% of the world's wealth, totaling over 173.3 trillion dollars in 2019: <https://inequality.org/facts/global-inequality/>
+
+With the geometric mean, the top 1% of wealth in America will increase by 5.8%. On a global scale, 3 trillion dollars after taxes is a 1.7% increase. The payout will register a small blip, and those who paper hand early may not even make the cut for the top 1%. What does this conclude? Fears of an ape payout causing hyperinflation is FUD. The payout causing global hyperinflation or massive distortion of the world's wealth is FUD. Don't hold for a number that seems big to you. Hold for a number that seems big to THEM. Even if the number of diamond hands doubles or triples, 9 trillion dollars after taxes is a small ripple in the global supply of wealth. Let's hope some of you apes will know how to create a positive butterfly effect with your tendies.
+
+Edit: [u/Allohn](https://www.reddit.com/u/Allohn/) pointed out this DD here has a more correct Apeish number of 60 trillion:
+
+<https://www.reddit.com/r/Superstonk/comments/mmt8rh/geometric_mean_exponential_increase_and_gme_price/?utm_medium=android_app&utm_source=share>
+
+How does that change the overall picture? 25 trillion taxes, 25 trillion to apes, 10 trillion abroad. Net impact of 35 trillion. 20.2% increase in the top 1% of worldwide wealth with ultimate diamond hands. Still not enough to pay off the national debt of 28 trillion and counting. Seeing as how M2 is no longer counted, and the true number of shares to be paid out is unknown, I wonder if they can sweep this much money under the rug. Only one way to find out!

Confirmation-Bias-and-Discussion/2021-05-23-Crypto-Market-Liquidated-Over-One-Trillion-Dollars-since-May.md

@@ -0,0 +1,42 @@
+According to TradingView.com, Crypto market has liquidated over $1,000,000,000,000 USD since May. The price of GME has no limit.
+================================================================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/KFC_just](https://www.reddit.com/user/KFC_just/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nj5beh/according_to_tradingviewcom_crypto_market_has/) | 
+
+---
+
+[Discussion 🦍](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Discussion%20%F0%9F%A6%8D%22&restrict_sr=1)
+
+TL;DR: Pretty picture show hedgies r fukt.
+
+[![r/Superstonk - According to TradingView.com, Crypto market has liquidated over $1,000,000,000,000 USD since May. The price of GME has no limit.](https://preview.redd.it/vvr25m60ku071.png?width=2048&format=png&auto=webp&s=0eb9c9f529beb404146c59563a9efc161919386f)](https://preview.redd.it/vvr25m60ku071.png?width=2048&format=png&auto=webp&s=0eb9c9f529beb404146c59563a9efc161919386f)
+
+1Trillion gone from Crypto since May 2021
+
+So i have seen several posts debating firstly the potential size of the collective payout that is going to come for GME, and secondly what the maximum price that will actually be paid for GME is likely to be.
+
+While everything is a hypothetical until it happens, and I am by no means a maths guy, I submit that the evidence of massive liquidations of the crypto currency market which we strongly think is being cyclically pumped and dumped to raise cash for Citadel and co, I submit that the grand total of 1 Trillion dollars so far just on crypto means that we control the price.
+
+There are of course the usual caveats that not all of this is GME related, or Citadel related, but involve every other possible reason in addition for every other player involved, preparations for Atobitt to release HOC 2 and 3 and trigger the liquidity crisis, and yada tada yada you get the point.
+
+But, caveats aside, the fact that 1 Trillion dollars has already been pulled out of just one sector of the market in preparation should be sufficient to jack your tits.
+
+Every single share of Gamestop both real and synthetic, in market, in dark pools, in ETFs, in options and calls and puts and shorts and everything else under the sun, every single one of them already has a designated owner before this started. Remember that. Before apes began mass buying and holding every single share was already owned. And now they're all "owned" many times over. What fun.
+
+This is why they cheated and lied and stole and counterfeited more shares than could ever exist in this company. This is why it is impossible for them to close their positions. This is why they are collectively collecting 1 Trillion dollars just to start with.
+
+Because every single paper handed bitch in the world selling low couldnt possibly change this maths now that so many synthetic shares are due. Every single share, real and synthetic, must be purchased at whatever price is available. And as the paper hands leave, and shares concentrate in the diamond hands of the apes, the price to buy increases exponentially.
+
+All shorts must cover
+
+This is why you are going to win.
+
+Edit: [Link to TradingView source](https://www.tradingview.com/markets/cryptocurrencies/global-charts/) damn watching that go down in real time across the whole crypto, rather than any particular stock is quite the sight.
+
+Edit 2 shills got to pump it
+
+[![r/Superstonk - According to TradingView.com, Crypto market has liquidated over $1,000,000,000,000 USD since May. The price of GME has no limit.](https://preview.redd.it/hywxgvkqrx071.png?width=2048&format=png&auto=webp&s=1cc378aeff2e99171575895b61a1dfe1c4de4655)](https://preview.redd.it/hywxgvkqrx071.png?width=2048&format=png&auto=webp&s=1cc378aeff2e99171575895b61a1dfe1c4de4655)
+
+Headline 1: Bitcoin tumbles 50%. Headline 2: Buy now you fool. Transparent much

Confirmation-Bias-and-Discussion/2021-06-21-GME-Banks-The-Movie-Stock-and-Elliot-Waves.md

@@ -0,0 +1,100 @@
+GME, Banks Falling Off a Cliff, The Movie Stock, Elliot Waves, WUT Mean For This Week? 🚀
+=========================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/possibly6](https://www.reddit.com/user/possibly6/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/o4jxb3/gme_banks_falling_off_a_cliff_the_movie_stock/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+Sup Apes
+
+Elliot waves guy here doing my best to give you your daily dose of confirmation bias before the market opens!
+
+Not financial advice, I do unimaginable things with the crayons I get when I ask for a kid's menu at restaurants.
+
+NON NEGOTIABLE: PLAY THIS AS YOU READ (This song slowly builds, idk the vibes feel right <https://www.youtube.com/watch?v=bvBfiRWLj_0>)
+
+HAPPY FUCKING FATHERS DAY TO ALL YOU PAPA SILVERBACKS OUT THERE!!! If you're drunk from the day's festivities, this read will be even better.
+
+This might be a shorter post, I don't have too much to say as of yet other than I'm FUCKING JACKED 🚀
+
+First off, I'm sure you all have seen the posts regarding bank stocks following and how we can potentially use that as a predictive indicator in terms of GME stock price. Great work here if you missed the post: <https://www.reddit.com/r/Superstonk/comments/o42bfm/big_banks_lost_a_lot_of_value_on_january_14th_but/>
+
+Let's take a look at the banks last week:
+
+[OOOOF](https://preview.redd.it/vqt6zzy8ji671.png?width=2802&format=png&auto=webp&s=0e482ac603a8601e6d2988e8ac7e1475473c5140)
+
+This might be one of my favorite screenshots of all time. Let's take a look at the banks back in the middle of january and see if that had any correlation to GME goin bananas at the end of January.
+
+[death to big banks](https://preview.redd.it/eb9h44rgji671.png?width=2806&format=png&auto=webp&s=d45dcd5616c6db3ab3d85698ad1f65b9c31dc424)
+
+Given that GME's run peaked in the end of January, the conclusions that I draw from that are the banks hit a low around GME's peak. Granted, there were many outside factors at play back then, so this is all speculative. However, Let's look at GME in january now, pay close attention to the dates on the bottom and compare those to the banks above:
+
+[squeeze for ants](https://preview.redd.it/jg73y59tji671.png?width=2770&format=png&auto=webp&s=0af347858b726f3fe3104a2339cd794cc2412543)
+
+just from eyeballing, we can see that the banks seem to find their "bottom" as GME begins to lift off. Does this mean the banks will go to zero before GME squeezes? absolutely not, please don't think that will be the case. HOWEVER, we can assume that the financial sector and GME have some sort of inverse relationship, simply based on the erratic price action between the pairs.
+
+This time around, I'm expecting banks to continue to fall as GME rises. Can't halt buying this time around!
+
+I haven't charted out the bank stocks because frankly I don't really care, I want the major banks at 0 personally, wouldn't pay a penny more to hold that garbage (all my homies hate the financials sector)
+
+Alright, so we can *seemingly* use the falling stock price of banks as a predictive indicator for upwards GME price action. Do note, I didn't conduct any significance tests or anything, this is all simply from comparing candle charts and looking for similarities/differences.
+
+Speaking of comparing candle charts, something super interesting was brought to my attention in a group discussion, big shoutout to [u/roman_axt](https://www.reddit.com/u/roman_axt/) for the hard work you ultra wrinkly brained primate. Below are images of GME and the movie company, courtesy of [u/roman_axt](https://www.reddit.com/u/roman_axt/) as the arrows are drawn so the smoothest of brains can interpret what tf is going on. Do note, these are from about a week ago, so not all candles are up to date (if it even matters)
+
+[movie company](https://preview.redd.it/k6na9x1ali671.png?width=1642&format=png&auto=webp&s=b76c79799b8653e2f7a1abd4519511f3ec4de0d9)
+
+[GME](https://preview.redd.it/vsbpkxlqli671.png?width=1652&format=png&auto=webp&s=968f2fdef4407b30ca589c9c7b6ad887dec9fc4e)
+
+The reason I bring this up is because some of my friends in the trading world (that only trade off price action mind you, they don't really understand the whole GME saga) noticed this as well. It APPEARS that the movie company and GME not only move in a somewhat similar/predictable pattern, but GME seems to be lagging behind by about 2 or so weeks. Do note, this is just an approximation from eyeballing, please take this all with a grain of salt and remember I am retarded.
+
+Here is a view sent to me by one of my good friends who noticed the same fishiness occurring (from mobile thinkorswim):
+
+[moveee stonk](https://preview.redd.it/uq7aosflmi671.png?width=457&format=png&auto=webp&s=a068716cd483c2b6793e4d54d98ed2e1f852c613)
+
+[gAmEsToNk](https://preview.redd.it/1xw8lktmmi671.png?width=457&format=png&auto=webp&s=ad27d18e0a9739aa32ec178e69b29a6a39f9dc4f)
+
+now what REALLY has me jacked is the pattern lines up from a few weeks ago, when the movie stock was trading for sub $16/share. It then ran to upwards of 70+. I was able to predict the movie stock's relative high's and low's using EW as well, which I've gotta say is actually super exciting. I own none, BUT it worked on a seemingly "impossible" to time stock. Idk about you, but I don't believe in coincidences.
+
+Disclaimer, I hodl ZERO of the movie stock, I have always believed it was a distraction. the fact that the media is talking about it should tell you enough.
+
+Now let's tie this assumption into my GME elliot waves analysis, try not to get too jacked:
+
+[4hr](https://preview.redd.it/04006jafni671.png?width=2812&format=png&auto=webp&s=eb668952f63ba29226abd0855cbecd476b479466)
+
+As stated time and time again, we are in a 3 within a 3 within a 3, which is quite literally an elliot wave trader's wet dream. This setup is valid down to about 113, so I wouldn't worry about "is the structure still valid?" yes. yes it is.
+
+This is literally as bullish a setup you can get, all we need is a match to light the fuse. Our cycle 3 (white line) is targeting at the MINIMUM 440, though I would love to see the 1.618:1 ratio hit, as is most common for wave 3. This puts GME at roughly 582, though remember this is all pre squeeze.
+
+As always, the motto is simple. Buy hodl, sell for life changing money (not no 10k/share bullshit, 8 figures/share is life changing in my eyes, and that's just my floor).
+
+I'm not saying we will break into the 400+ range this week by any means, but man the stars are aligning for some crazy shit to go down. I'm fookin jacked m8.
+
+Lastly, let's take a look at SPY and the VIX, as we can use each as a tool to gauge not only sentiment, but potential fuckery before it happens. In my post regarding the SP500 and GME, I brought up how In the January squeeze, SPY took a fucking HIT as GME broke into the hundreds for the first time ever. Here's my view of SPY:
+
+[4hr](https://preview.redd.it/tg53oi4ioi671.png?width=2830&format=png&auto=webp&s=fb523f927bed85a65d2e1a43b2b000295e84d8bf)
+
+NGL, SPY is kind of in no man's land right now. I'll have to see how we open to have a better idea of where it's going. By all means this COULD be the beginning of our long awaited bear market, but it could very well form an impulsive wave 1 to the upside to make for a final push to around 430 before shit hits the fan
+
+My OWN PERSONAL THESIS is that we will see the markets pumped to valhalla 1 last time to try and draw as many "suckers" in so wall street can offload the bag at the peak. Put yourself in their shoes, seems like a logical play to strike fear into everyone, then prop the markets up a bit longer to make everyone think its okay, then proceed to dump the bag on them
+
+Lastly, the VIX, the fear/volatility indicator:
+
+[VIX](https://preview.redd.it/58x900k3pi671.png?width=2802&format=png&auto=webp&s=5ee14be1a71b82ca0ab2cde627b5e47467dad7f5)
+
+Finished up 16% on friday? spicy. In one of my posts I mentioned how we can use the VIX to gauge when GME will potentially do something erratic. just compare the spikes of the VIX and GME, you'll see there's at least some correlation there. I mean shit, end of january? Clear as kenny's "for sale" sign on his marked down penthouse that he suddenly is in a rush to sell. wonder why? (I think it sold actually lol, even funnier).
+
+I'm preparing for the best while always expecting the worst. I'm never disappointed this way and always excited, 10/10 would recommend.
+
+June 30 is the end of the grace period for banks, worth noting. I'm expecting the VIX to FLY when that happens, though again, pure speculation.
+
+TLDR: worth the read. Banks falling is a potential indicator that GME will do some crazy shit, GME also *appears* to be lagging behind the movie stock. That part is pure speculation, but speculation is part of the fun part no? (Sorry the song doesn't fit perfectly, you'd be surprised how much time i spend trying to link a fitting song lol. as long as you're jacked, i consider this a job well done)
+
+Now Imma go get high af so I'm well rested for MONDAY🚀 🚀 🚀
+
+edit: funny story cause y'all are fam, I went to the porsche dealer yesterday to test drive my post-moass whip, and the salesman googled me before I came in to make sure I wasn't some degenerate looking to crash their pristine GT4. I get there, and the salesman said he googled me and knew me as the elliot wave guy. Simulation confirmed. during the drive we talked about trading, I showed him my wave count, hopefully he got some GME. idk, random. Thought I'd share cause I thought it's a nice story. This movement is bigger than we can comprehend. EW guy is in the bio of my socials, so he put 2 and 2 together after googling my real name.
+
+Edit 2: proof I went and they let me drive the gt4: <https://imgur.com/a/uzTn3OR>

Confirmation-Bias-and-Discussion/2021-06-22-Is-NSCC-002-about-to-turn-the-T+21-T+35-Loop-into-a-Death-Spiral.md

@@ -0,0 +1,145 @@
+Wait... Is NSCC-002 about to turn the T+21/T+35 loop into a death spiral of T+0 as we approach Q2 end?
+======================================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/Criand](https://www.reddit.com/user/Criand/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/o5ingt/wait_is_nscc002_about_to_turn_the_t21t35_loop/) | 
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+0\. Preface
+
+I am not a financial advisor. I do not provide financial advice. Many thoughts here are my opinion, and others can be speculative.
+
+So, NSCC-002 just got approved, along with NSCC-801 for one-hour margin calls. Not only did it get approved, it got accelerated approval and will be in effect Wednesday, June 23rd.
+
+This got me JACKED. But of course don't get too hyped just because of me. It could all be a nothing burger in the end. But, there's some crazy shit going down that I think is telling of what is about to come.
+
+There's also comments of "these rules mean nothing until they are enforced". Yes, I agree. But, consider the fact that the NSCC, ICC, OCC, DTC have all been drafting up rules to protect themselves in the event of member defaults and extreme market stress. They aren't just drafting these up to say, "Meh. Nevermind". The NSCC, ICC, OCC, DTC are full of members who are NOT short on GameStop or other positions that put these entities at risk. The other members have influence and do not want to be dragged down either. It's a battle of survival.
+
+I also apologize if anyone has already posted about this. I do know that [/u/dentisttft](https://www.reddit.com/u/dentisttft/) had identified these SLD periods in their post about T+35 when tying in the spikes of price! Such a smart ape! I'm going to expand on their post here, identifying the importance of NSCC-002 to the theory.
+
+A comment by [/u/minnowstogetherstonk](https://www.reddit.com/u/minnowstogetherstonk/) also encouraged this discussion, first identifying [that T+35/T+21 could turn into T+0 that feeds on itself.](https://www.reddit.com/r/Superstonk/comments/o4y2so/nscc2021002_approved_with_partial_amendments/h2k0os3?utm_source=share&utm_medium=web2x&context=3) If this is what is about to happen... genius ape!
+
+I personally think that NSCC-002 will trigger a death-spiral for SHFs as we approach Q2 end, and shit is about to hit the fan across all markets.
+
+[![r/Superstonk - Wait... Is NSCC-002 about to turn the T+21/T+35 loop into a death spiral of T+0 as we approach Q2 end?](https://preview.redd.it/q1te0jsbzr671.png?width=1686&format=png&auto=webp&s=4407f66bc6efcdd10e5d6323bea7bc2611371385)](https://preview.redd.it/q1te0jsbzr671.png?width=1686&format=png&auto=webp&s=4407f66bc6efcdd10e5d6323bea7bc2611371385)
+
+Awww shit
+
+1\. NSCC-002 And It's Effects On Liquidity Deposits
+
+Note: Like I said above, this is expanding off of [/u/dentisttft](https://www.reddit.com/u/dentisttft/)'s post of T+35 found here: [T+35 Is The One True Cycle](https://www.reddit.com/r/Superstonk/comments/o155a6/t35_is_the_one_true_cycle_evidence_to_back_my/). It visually showed the NSCC liquidity cycle times and the effects it had on FTDs, which never really clicked until thinking about NSCC-002 a bit more. Give their post a read! :)
+
+Something big to remember is that NSCC-801 now goes into effect along with NSCC-002, which allows for one-hour margin calls. This means that when a member does not have sufficient liquidity, they will be asked to post it within one hour to the NSCC. If they do not post the liquidity, then the member defaults. And thus, the snappening begins.
+
+Let's investigate the most important bits of NSCC-002. First, a glance at what the rules used to be and the NSCC's concern driving the rule change**:**
+
+[![r/Superstonk - Wait... Is NSCC-002 about to turn the T+21/T+35 loop into a death spiral of T+0 as we approach Q2 end?](https://preview.redd.it/yjhyg0vrzr671.png?width=793&format=png&auto=webp&s=1c593670c431dca25f897bf1ffa26197b3b60fc9)](https://preview.redd.it/yjhyg0vrzr671.png?width=793&format=png&auto=webp&s=1c593670c431dca25f897bf1ffa26197b3b60fc9)
+
+NSCC-002 Part 1; Old Liquidity Requirements
+
+[![r/Superstonk - Wait... Is NSCC-002 about to turn the T+21/T+35 loop into a death spiral of T+0 as we approach Q2 end?](https://preview.redd.it/k7sfq4iszr671.png?width=784&format=png&auto=webp&s=61deac31a63ecb823c3ea5939792043b2b890a87)](https://preview.redd.it/k7sfq4iszr671.png?width=784&format=png&auto=webp&s=61deac31a63ecb823c3ea5939792043b2b890a87)
+
+NSCC-002 Part 2; Old Liquidity Requirements
+
+Prior to this rule change, the NSCC would collect liquidity deposits only during Monthly Options expiry periods. What is a monthly option? It is the third Friday of each month:
+
+-   January 15
+
+-   February 19
+
+-   March 19
+
+-   April 16
+
+-   May 21
+
+-   June 18
+
+-   July 16
+
+-   Etc.
+
+The NSCC realized that shit could get really wonky between those liquidity periods of the monthly options. These volatile movements in the markets would put the NSCC itself at risk due to some of its members positions. So, they decided to draft up this rule which allowed them to not only grab liquidity around monthly options, but to be able to ask for more liquidity on a daily basis. This allows the NSCC to take hold of volatility and say, "enough is enough, you're done for".
+
+Now, check this out:
+
+[![r/Superstonk - Wait... Is NSCC-002 about to turn the T+21/T+35 loop into a death spiral of T+0 as we approach Q2 end?](https://preview.redd.it/754z0dte1s671.png?width=799&format=png&auto=webp&s=736bb773f6515211f916788f10fe1ba914c1569c)](https://preview.redd.it/754z0dte1s671.png?width=799&format=png&auto=webp&s=736bb773f6515211f916788f10fe1ba914c1569c)
+
+NSCC-002 Part 2; New Liquidity Requirements
+
+[![r/Superstonk - Wait... Is NSCC-002 about to turn the T+21/T+35 loop into a death spiral of T+0 as we approach Q2 end?](https://preview.redd.it/wp8f279f1s671.png?width=741&format=png&auto=webp&s=cae04b68606972c68160dc782ad61d53a9bbac03)](https://preview.redd.it/wp8f279f1s671.png?width=741&format=png&auto=webp&s=cae04b68606972c68160dc782ad61d53a9bbac03)
+
+NSCC-002 Part 2; New Liquidity Requirements
+
+The NSCC defined a period of grabbing liquidity and holding it to be 2 business days prior to monthly expiration, and ending 7 days after monthly expiration. From the dates listed above, this gives you the following time periods of liquidity deposits for monthly expirations:
+
+| Monthly Option Date | Liquidity Deposit Given By Member To NSCC | Liquidity Deposit Returned To Member From NSCC |
+| --- | --- | --- |
+| January 15 | January 13 | January 27 |
+| February 19 | February 17 | March 2 |
+| March 19 | March 17 | March 30 |
+| April 16 | April 14 | April 27 |
+| May 21 | May 19 | June 2 |
+| June 18 | June 16 | June 29 |
+
+And if you remember from [/u/dentisttft](https://www.reddit.com/u/dentisttft/)'s posts, these periods all contain the T+21/T+35 dates of January 25, February 24, March 25, April 26, May 25, and June 24. So it appears that, as [/u/dentisttft](https://www.reddit.com/u/dentisttft/) concluded, that they struggle with liquidity during these time periods of FTD deliveries and the price gets much greater upward momentum.
+
+Going back to the images above of NSCC-002... notice that in the old rule that the amount of liquidity that needed to be posted for monthly expirations was based on settlement activity of the prior 24 months. That's a lot of leeway on how much liquidity is needed per member as it was not checking real-time data.
+
+NOW... the NSCC is changing it to a daily calculation. It's no longer a one-and-done deal of the monthly liquidity based on the prior 24 months. It is going to be based on a constant check of real-time data. This can shift the total liquidity required from the previous rule up significantly, mainly because it is no longer based on the prior 24 months of settlement activity.
+
+2\. T+21/T+35 Loop Turns Into A T+0 Death Spiral
+
+Remember how shit went absolutely wild around March 10th? That was outside of a liquidity deposit phase. And then, the price was tanked and brought down severely JUST BEFORE the next liquidity deposit was required.
+
+[![r/Superstonk - Wait... Is NSCC-002 about to turn the T+21/T+35 loop into a death spiral of T+0 as we approach Q2 end?](https://preview.redd.it/yv2xmolw2s671.png?width=251&format=png&auto=webp&s=972401702a7cdee5648397fb0a827f137d3c1902)](https://preview.redd.it/yv2xmolw2s671.png?width=251&format=png&auto=webp&s=972401702a7cdee5648397fb0a827f137d3c1902)
+
+GME Price Action Prior To Next Liquidity Requirement
+
+In fact, something curious is that the price has never been above $228 entering the next liquidity posting date, and has never been above $300 during these liquidity dates. Hmmm? Margin call price could be dangerously close. And with NSCC-002/801, it can absolutely screw the SHFs.
+
+What does this all mean in the end? Well, it can turn the T+21/T+35 loop into a T+0 death spiral.
+
+They used to have to post liquidity two days prior to the monthly options. But now, the NSCC has the discretion to ask for MORE liquidity at ANY time based on daily movements of prices. The previous liquidity posting was a one-and-done deal instead of a liquidity requirement that would constantly update every day of the year. And if they fail these new liquidity checks? One. Hour. Margin calls.
+
+Here's a figure based on [/u/dentisttft](https://www.reddit.com/u/dentisttft/)'s liquidity deposit phases identifying what could happen starting Wednesday, June 23rd:
+
+[![r/Superstonk - Wait... Is NSCC-002 about to turn the T+21/T+35 loop into a death spiral of T+0 as we approach Q2 end?](https://preview.redd.it/ebuouwrl4s671.png?width=1536&format=png&auto=webp&s=adb54e7938d647d2f1d43f1b9ccbaeeac3701cad)](https://preview.redd.it/ebuouwrl4s671.png?width=1536&format=png&auto=webp&s=adb54e7938d647d2f1d43f1b9ccbaeeac3701cad)
+
+GME Price Action And Liquidity Deposit Phases
+
+This could very well be why they are trying to obliterate the price at the moment.
+
+The next FTD spike can cause the price to absolutely soar into a price range which requires more liquidity, making it harder for them to suppress the price, and pushing GME more towards the margin call price. Which then feeds on itself requiring more liquidity, and it continues on an absolute death spiral.
+
+Which can then lead to this:
+
+[![r/Superstonk - Wait... Is NSCC-002 about to turn the T+21/T+35 loop into a death spiral of T+0 as we approach Q2 end?](https://preview.redd.it/emkfeo659s671.png?width=1536&format=png&auto=webp&s=a1459a1ed24e63e7193930567c2dbcd1c4917884)](https://preview.redd.it/emkfeo659s671.png?width=1536&format=png&auto=webp&s=a1459a1ed24e63e7193930567c2dbcd1c4917884)
+
+Happy GME TA
+
+2\. Urgency to Approve NSCC-002; Quarter End Of June 30th; Meeting Between Biden, Powell, Yellen, Gensler
+
+Guess what? The 2008 crash "started" around the end of Q3 with the collapse of Lehman Bros on September 15, 2008. End of quarters are when the system gets really strained due to the underlying plumbing of the markets and the necessity to pump balance sheets.
+
+> Banks' "reporting" dates are known inflection points in the short-term funding markets and typically fall at the end of the month, quarter, and of course the year. But periodically, the 15th of the month is also a pressure point. - [Source](https://blog.pimco.com/en/2019/09/repo-rate-spike-a-tail-of-low-liquidity)
+
+Fast forward to when the Fed attempted to reverse QE. A year after performing QT (reverse of QE), the repo market blew up to 10% interest on September 15, 2019 due to way way way too many loans that had to be handled. You can see how strain on the markets starts to amplify around particular dates of Quarter-ends and occasionally the 15th of months.
+
+We're approaching the end of Q2 which is June 30th. Hm. Quarter end?! Sound familiar? 👀
+
+The NSCC-002/801 is having accelerated effectiveness. There is huuuge urgency to get this passed for margin requirements and margin calling members. Why would they be pushing this to get it out the door? I think shits about to hit the fan. They NEED to protect themselves.
+
+Something else to note is that Biden, Yellen, Gensler, and Powell all met for "Climate Change" discussions today.
+
+> "The regulators reported that the financial system is in strong condition," the White House said in a readout of the meeting. - [Source](https://www.washingtonpost.com/politics/2021/06/21/joe-biden-live-updates/)
+
+That's the entire context of the quote. That the financial system is "in strong condition". What are they actually doing at this meeting? Something similar to discussing letting X Y and Z fail just like they discussed letting Lehman Bros fail in 2008?
+
+The [Jungle Beat Monday Post](https://www.reddit.com/r/Superstonk/comments/o54hl2/the_jungle_beat_monday_06212021/) talked about this very briefly and it was something I latched onto immediately. I remembered [the meeting for 2008](https://www.cnbc.com/2018/09/12/bernanke-paulson-and-geithner-say-they-bailed-out-wall-street-to-help-main-street.html) but did not connect the dots to this meeting between Biden, Powell, Yellen, and Gensler possibly being similar in scope.
+
+Wild times we live in. But remember - don't fuckin' dance.

Confirmation-Bias-and-Discussion/2021-06-29-NYSE-Threshold-List-Collapsing-Shorts-and-Launching-the-MOASS.md

@@ -0,0 +1,56 @@
+The NYSE threshold list: collapsing shorts and launching the MOASS
+==================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/Bladeace](https://www.reddit.com/user/Bladeace/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oao9oo/the_nyse_threshold_list_collapsing_shorts_and/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+TA;DR: threshold list killed small shorts in January. Big shorts took on their positions. Threshold list restrictions coming for big shorts too. Watch for GME being added to the threshold list.
+
+TL;DR: restrictions associated with extended periods of failures to deliver inform the past six months of GME shenanigans. These restrictions killed the small players who were short GME in January and allowed big players to take on their position. Big players assumed they could use their powers and resources to turn this losing hand into a big win. Apes stopped them. Now, finally, the big players are going to find these same restrictions applied to them - watch for GME being added to the threshold list.
+
+Background
+
+The New York Stock Exchange provides a list of 'threshold securities', which are securities that are regarded as difficult to borrow due to a large number of recent failures to deliver. When a security is on this list, there are limits on a market maker's ability to short sell the security in question and obligations regarding delivery requirements. These restrictions and obligations can increase the longer the security stays on the list. For further information and some relevant links, please see [this comment](https://www.reddit.com/r/Superstonk/comments/o9x3hf/guys_before_you_downvote_this_to_hell_bc_its_not/h3e1asv?utm_source=share&utm_medium=web2x&context=3) by [u/Cirand](https://www.reddit.com/u/Cirand/). There is currently some discussion of this topic because moviestock has been added to the threshold list recently, [this post](https://www.reddit.com/r/Superstonk/comments/o9x3hf/guys_before_you_downvote_this_to_hell_bc_its_not/?utm_source=share&utm_medium=web2x&context=3) by [u/OrwellsWarning](https://www.reddit.com/u/OrwellsWarning/) presents tweets by [u/dlauer](https://www.reddit.com/u/dlauer/) and Susanne Trimbath which is a good place to look for discussion of the significance of the threshold list (see the comments).
+
+In short, the ability to perform fucketry is diminished when a security is on the threshold list. /udlauer tweets that it might be unusual for companies like GME to make it onto this list (usually it's small companies). [This rather underappreciated post](https://www.reddit.com/r/Superstonk/comments/oadcb3/i_made_these_charts_illustrating_occurrences_of/?utm_source=share&utm_medium=web2x&context=3) by [u/mlebjerg](https://www.reddit.com/u/mlebjerg/) provides graphs of the price of moviestock and GME in relation to their being on the threshold list. Notice that the price of moviestock does not appear to be related to their being on the threshold list. Neither does the price of GME, with a notable exception.
+
+Key point
+
+Given the restrictions that come with being on the threshold list and its relationship with the historical prices of the two securities, I suspect the effect of being on the threshold list do not translate to price changes until the security has been on the list for long enough to compromise the ability of those with short positions to manipulate the price. On the below graph I compare the price of GME with the number of concurrent days it has been on the threshold list:
+
+[![r/Superstonk - The NYSE threshold list: collapsing shorts and launching the MOASS](https://preview.redd.it/yfmbrye3lb871.png?width=685&format=png&auto=webp&s=c28e1c25971667b38fc8717aba790de881771e86)](https://preview.redd.it/yfmbrye3lb871.png?width=685&format=png&auto=webp&s=c28e1c25971667b38fc8717aba790de881771e86)
+
+From the end of December 2020 and into the beginning of February 2021 GME was on the threshold list for 39 market days. I believe that this answers an important question that has been outstanding since February: it explains why they needed to resort to a market halt to stop the January spike but not the February gamma.
+
+The difference between January and February
+
+In [this post](https://www.reddit.com/r/Superstonk/comments/mvvuhp/feb_2426_failed_launch_attempt_and_proof_the_dtcc/?utm_source=share&utm_medium=web2x&context=3) from April I argue that the unusual market activity during February, the 'gamma swarm' or 'gamma squeeze', was an attempt to launch the MOASS that failed due to those shorting GME flooding the market with ever more short positions, which mitigated attempts to rapidly rise the price. In [this post](https://www.reddit.com/r/Superstonk/comments/nc1h4o/findings_from_my_analysis_of_605_data_huge_short/?utm_source=share&utm_medium=web2x&context=3) from May I argue that the changes in order flow indicate that the market center Citadel Securities was used to open a large short position in January and the NASDAQ market center was used to manipulate the price in February. These two arguments leave an unanswered question: if the spike in February was prevented by manipulation involving inter-market-center fucketry, why did they need to resort to a trading halt to prevent the January spike?
+
+I think the threshold list answers that question: trading was halted in January because GME had been on the threshold list for weeks prior to the spike, which prevented the other methods of price restricting manipulation available to those shorting GME. After weeks on the threshold list, and in the face of massive buying pressure, they had no winning play left - so they halted trading. I suspect that, with trading halted, they then brought the minimum number of GME shares required to cover the outstanding failures to deliver which then removed GME from the threshold list. I expect that this actually left them with *an even bigger* outstanding short position, considering how much it would have expanded during the January spike: they opened a bigger position due tomorrow, to close the positions keeping GME on the list today. I think this led to the game they've been playing since February.
+
+The story so far
+
+Notice that GME has not returned to the threshold list since early February. I think that this is because the parties shorting GME since then have been more competent, better resourced, and more powerful. I suspect that GME went onto the threshold list in December 2020 because a smaller player, perhaps Melvin Capital, was failing to cover or defer their short positions. Ultimately, this led to the January spike and a more powerful institution capable of the manipulation required to stop the spike stepping in. Essentially, I think at least one smaller player who was short GME collapsed in December and January which undermined the ability of the larger players to control the situation. In response, I suspect that the larger players with market maker privileges and influence over market centers took over these collapsing players.
+
+This is why I think that the short position was *expanded* in January even though I also think some positions were covered. As I discuss [in my post regarding the 605](https://www.reddit.com/r/GME/comments/nc2zcc/findings_from_my_analysis_of_605_data_huge_short/?utm_source=share&utm_medium=web2x&context=3) data (also linked earlier, the may post), it appears that the market center Citadel Securities was used to expand a short position during the January spike. Notice that the restrictions associated with a security being on the threshold list are not applied to all parties equally. This is how shorting took place in January, despite GME having been on the list for weeks - it was one of the smaller players failing to deliver that got GME on the list, so the big players were not suffering all of the related restrictions (especially those with influence over their own market center). I suspect that the short position was expanded dramatically in the leadup to the January spike and then, after the trading halt, the *oldest positions* were covered to resolve those failures to deliver that were keeping GME on the threshold list. In this manner, the short position was moved from small players to the big ones and the overall short position expanded while the reported short position lowered substantially.
+
+With their short position bigger than ever, I suspect that they attempted to crash the price in February to convince everyone that it's time to sell their GME shares. At this point, their position is likely looking quite strong - the short positions opened in January were at a high price per share, which means they've received more money from buyers than the current share price. So, on paper anway, they are in a strong position - yes, they owe an insane amount of GME shares, but the price of GME is now much lower. As long as they can *eventually* convince everyone this is over, they'll likely come out of this stronger than ever. If they can keep issuing more short positions that they eventually cover at a much lower price, after shareholders give up and move on, they'll actually have profited over this debacle and gobbled up smaller players. Provided the apes stop buying and move on, they've turned an infinite loss position into a huge win. Masterstroke.
+
+This is a bold plan, it will turn a massive loss into a huge win. So, they go all in and do an excellent job of it. The trading halt works by allowing them to consolidate the short positions into only those players big enough to pull this strategy off. Expanding the short position provides an influx of cash from buyers. Further shorting after the trading halt drops the price in early February. The political fallout allows them to announce very publicly that they've closed their positions. The media narrative fits perfectly to what they need to portray. For the first few weeks of February, it's working.
+
+Except, it doesn't work. It's an excellent play and they executed it well. Regardless, two factors prevent their success. Firstly, millions of weirdos from the internet appear to have disregarded all traditionally authoritative sources of information and keep buying more shares. Given the complete lack of any evidence to justify this behaviour, it's understandable that this caught the shorts off guard. At this point, it's too late - they're beyond fully committed to this play, they've gambled everything they have and the health of the entire financial markets on this. So, they do what they can to undermine this bizarre online resistance. Unfortunately, for them, they are also facing resistance from other big players who, for whatever reason, are not willing to allow them this victory. This resistance from other big players comes in the form of the February gamma, which attempts to launch the squeeze that was prevented with the trading halt ([link to my April post on this](https://www.reddit.com/r/Superstonk/comments/mvvuhp/feb_2426_failed_launch_attempt_and_proof_the_dtcc/?utm_source=share&utm_medium=web2x&context=3), also linked earlier).
+
+This sets the stage for everything that follows, March onwards. In January and early February the shorts win the battles. Smaller players die and cause a massive mess, but this allows the big-shorts to take over their positions and expand their short positions at a favorable price point while doing so. They gamble on an extreme play, a trading halt, to crash the price and it works. However, Apes pervert their attempts to motivate selloffs and realize they are being targeted with misinformation - so, they gather together to defend themselves. Ultimately, this becomes [r/SuperStonk](https://www.reddit.com/r/SuperStonk/). Other big players, perhaps fearing what the big-shorts have become and are doing, instigate the February gamma which reverses a large portion of the price crash and exposes the ongoing manipulation. As February draws to a close, the gamma has failed to launch the rocket and the Apes have only a vague understanding of what is happening. It's a stalemate.
+
+I think the battles fought in January and February have informed everything that followed. The big players short GME have used their power, influence, and resources to avoid any further restrictions on their GME activities. The big players opposing them have done what they can, but can't launch the rocket. Apes' might be described as the wildcard, but I think they're better understood as the battleground. As the months drag on, they grow in sophistication, numbers, and power. Six months into this mess, they're the ones holding the winning hand. It's the Apes' whose shares need to be brought: the shorts always needed retail shares, but after six months of endless shorting they now need *a lot* of retail shares and, much worse, the retail holders know it.
+
+If my outline, story I guess, is correct, then the outcome is inevitable. At least, assuming Apes hold. Eventually, especially in the face of tightening restrictions, GME is going to end up back on that threshold list. Once it does, the powers and privileges allowing those short GME to fight will be steadily stripped away until they can't do anything except watch as their obligations to the NSCC kick in and the attempt to close the infinite loss position they have burdened their peers with begins. I suspect this is why the new restrictions are finishing off with 'rules clarifications' that limit rehypothecation and prevent a borrowed share from being used to 'deliver' an earlier position. Once the failures to deliver can no longer be hidden, GME is going to end up back on that threshold list. Once it's there, those with outstanding failures to deliver will have their ability to short GME restricted and the big-shorts will be caught in the same trap they 'saved' the little shorts from in January.
+
+Finally, please note a recent by [u/Feeling_Point_5978](https://www.reddit.com/u/Feeling_Point_5978/) yesterday (I can't link, it's on a different subreddit) for discussion of this in the context of Moviestock. For what it's worth, I think that Moviestock is our canary in the coal mines on this issue. I suspect that the new restrictions, finally in effect from last week, will result in the failures to deliver GME to being piling up quite soon. If this happens, expect to see GME on the threshold list soon after. Once it's there, the restrictions escalate until it's off the list. I suspect that there is only one way GME is getting off that list once it's back on it, and that's the MOASS.
+
+(Please note that my incompetence limits the reliability of any of the above. I argue, think, and suspect many things; my saying it doesn't mean much regardless of how I phrase it - read with caution!)

Confirmation-Bias-and-Discussion/2021-06-29-RRP-is-the-Reason-for-No-Margin-Call-Liquidations.md

@@ -0,0 +1,30 @@
+Holy shit, THOSE MOTHER FUCKERS. thesis 2.0: RRP is the reason there has been no big boy margin call liquidations in the states. US T Bonds are considered collateral, its funding rehypothication, allows dividends, and finally institutions are able to circle jerk each other ETFs as their holdings.
+=========================================================================================================================================================================================================================================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/A_KY_gardener](https://www.reddit.com/user/A_KY_gardener/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oab880/holy_shit_those_mother_fuckers_thesis_20_rrp_is/) | 
+
+---
+
+[Discussion 🦍](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Discussion%20%F0%9F%A6%8D%22&restrict_sr=1)
+
+![Collateral is US T bonds](https://user-images.githubusercontent.com/82035192/123951557-ec5dc700-d972-11eb-841d-c3509a0c643d.png)
+
+![RRP 06.28](https://user-images.githubusercontent.com/82035192/123951619-fb447980-d972-11eb-852f-e0fad949a813.png)
+
+![TDA Investing in Friendly Competitors](https://user-images.githubusercontent.com/82035192/123951648-05667800-d973-11eb-896c-d3fe59d37308.png)
+
+![TDA funds detailed](https://user-images.githubusercontent.com/82035192/123951747-1fa05600-d973-11eb-954f-fcb6839b4180.png)
+
+![TDA trust owning all sorts of Schwab in 2019](https://user-images.githubusercontent.com/82035192/123951774-27f89100-d973-11eb-89b4-e04f55e06657.png)
+
+!["Collateral will be in the form of US Treasury Bonds"](https://user-images.githubusercontent.com/82035192/123951843-38a90700-d973-11eb-90a8-b9826a51c35f.png)
+
+![Schwab investing in themselves?](https://user-images.githubusercontent.com/82035192/123951915-4e1e3100-d973-11eb-85d9-acdcd17a64f8.png)
+
+
+
+
+
+

Confirmation-Bias-and-Discussion/2021-06-30-Hanks-Thot-Experiment.md

@@ -0,0 +1,51 @@
+Hank's thot experiment
+======================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/HomeDepotHank69](https://www.reddit.com/user/HomeDepotHank69/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oay9vr/hanks_thot_experiment/) | 
+
+---
+
+[Discussion 🦍](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Discussion%20%F0%9F%A6%8D%22&restrict_sr=1)
+
+******** I am not a financial advisor, this is not financial advice *********
+
+Hey everyone thanks for reading my post yesterday. I'm still on a break from making big DDs (unless I stumble upon something major that warrants immediate attention), but in the mean time I wanted to create a dialogue, a thought experiment if you will.
+
+The point of this post is simply to create a discussion in the comments that will serve as ideas for future DDs for myself and other wrinkles as well as to generally facilitate a discussion.
+
+Here are my discussion questions:
+
+GENERAL QUESTIONS:
+
+In your opinion, what is the most likely trajectory of GME (i.e. if you had to predict what it will do for the next few months, what would you say)?
+
+```
+   What other scenarios could you see?
+
+```
+
+What topics do you want to see wrinkles make DDs about?
+
+What are the biggest weaknesses in the body of content of our current DD (i.e. what topics do we need to focus on because they are weaker)?
+
+What is the weakest part of the general theory of GME? What is the strongest?
+
+SPECIFIC QUESTIONS:
+
+Even if the FTD cycle theory is incorrect, it's still true that each cycle, the floor/support increases, which means that the price has increased steadily since February. However, as we all know, volume has been absolutely horrible -- pathetic. In a normal stock, this increase would be called a nonvolume supported trend; however, I think most of us believe this is happening because apes are holding, so the volume is just day traders and the HFs have moved buying volume into OTC trades. With that in mind, let's say that volume continues to decrease. If volume continues to decrease, assuming nothing material changes about GME, what do you think is the most likely trajectory (i.e. is there a point we could get to where volume would be miniscule or close to zero and if so what would do you think will happen)?
+
+The $350 level seems to be significant. The previous two times we got near it, we were BRUTALLY rejected and saw HUGE downtrends. The only time we got over it was January, when the market literally shut down buying. With that in mind, what is your take on the significance of this level? Is there a method we could use to reverse engineer it to try to find SI? What would you like to see us focus on with DD here?
+
+Do you think the MOASS will happen sooner (let's say before the end of August) or later and why?
+
+Many of you probably saw my last post where I used data from the absolute beauties that are our quants to determine that the "meme stocks" are correlated. My thoughts were that it indicated that institutions took large short positions on them all at the same time. What are your thoughts? Why do you think all of these stocks have been following similar patterns? IMO I don't think retail is behind it because it's impossible for a nonorganized/noncorrdinated group to make multiple stocks behave the same way for months. Though we undoubtedly have power, we can't coordinate like HFs, so I don't think that retail just randomly decided to buy and sell all of these at the same time? What do you think?
+
+What do you think about GME and coin (can't say because of automod)? I've documented the FTD cycle connection and how it might be used for covering, but what do you think?
+
+We all thought that RC being named board lord would be the "catalyst" causing the MOASS, but GME has reacted inconsistently to catalysts. Do you think catalysts have are relevant anymore? Do you think a catalyst will cause the MOASS or do you think it will be random like January?
+
+Finally, I expect this post to get a fair amount of activity, so if you have anything interesting to say or ask that I didn't cover above please put it below!
+
+******** I am not a financial advisor, this is not financial advice *********

Confirmation-Bias-and-Discussion/2021-06-30-The-Final-Battle.md

@@ -0,0 +1,46 @@
+The Final Battle
+================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/thomas798354](https://www.reddit.com/user/thomas798354/) | [Reddit](https://www.reddit.com/r/DDintoGME/comments/oar709/the_final_battle/) | 
+
+---
+
+[𝗦𝗽𝗲𝗰𝘂𝗹𝗮𝘁𝗶𝗼𝗻](https://www.reddit.com/r/DDintoGME/search?q=flair_name%3A%22%F0%9D%97%A6%F0%9D%97%BD%F0%9D%97%B2%F0%9D%97%B0%F0%9D%98%82%F0%9D%97%B9%F0%9D%97%AE%F0%9D%98%81%F0%9D%97%B6%F0%9D%97%BC%F0%9D%97%BB%22&restrict_sr=1)
+
+Apes as I see my fellow comrades disappointed on the battlefield I began to go back to my drawing board and think tactfully as how I would wargame from Citadel's point of view. I realize a lot of you are mad about T+21 and I must really have supporting documents this time so I will proceed slowly with lots of quotes and rule references, I invite anyone to politely cite their opinion.
+
+TLDR; Citadel used the OTM options locates one last time to the extreme before 005 came into effect to try and buy back shares at the lowest price possible. Hold the Stock, don't fall for the other baited plays coming up, and be patient apes. Short squeezes will be a thing of the past after this. 005 will hopefully stop locates in options chains and also prevent a lent shares from being rehypothecated and leant to someone else. We could see the borrow time reduced to a maximum of T+6.
+
+REG SHO 101-
+
+Rule 203: Locate requirement- *Locate Requirement*. Regulation SHO requires a broker-dealer to have reasonable grounds to believe that the security can be borrowed so that it can be delivered on the date delivery is due before effecting a short sale order in any equity security.[[7]](https://www.sec.gov/investor/pubs/regsho.htm#_ftn7) This "locate" must be made and documented prior to effecting the short sale.
+
+Rule 204: *Close-out Requirement*. Rule 204 requires brokers and dealers that are participants of a registered clearing agency[[8]](https://www.sec.gov/investor/pubs/regsho.htm#_ftn8) to take action to close out failure to deliver positions. Closing out requires the broker or dealer to purchase or borrow securities of like kind and quantity. The participant must close out a failure to deliver for a short sale transaction by no later than the beginning of regular trading hours on the settlement day following the settlement date, referred to as T+4. If a participant has a failure to deliver that the participant can demonstrate on its books and records resulted from a long sale, or that is attributable to bona fide market making activities, the participant must close out the failure to deliver by no later than the beginning of regular trading hours on the third consecutive settlement day following the settlement date, referred to as T+6. If the position is not closed out, the broker or dealer and any broker or dealer for which it clears transactions (for example, an introducing broker)[[9]](https://www.sec.gov/investor/pubs/regsho.htm#_ftn9) may not effect further short sales in that security without borrowing or entering into a bona fide agreement to borrow the security (known as the "pre-borrowing" requirement) until the broker or dealer purchases shares to close out the position and the purchase clears and settles. In addition, Rule 203(b)(3) of Regulation SHO requires that participants of a registered clearing agency must immediately purchase shares to close out failures to deliver in securities with large and persistent failures to deliver, referred to as "threshold securities," if the failures to deliver persist for 13 consecutive settlement days.[[10]](https://www.sec.gov/investor/pubs/regsho.htm#_ftn10) Threshold securities are equity securities[[11]](https://www.sec.gov/investor/pubs/regsho.htm#_ftn11) that have an aggregate fail to deliver position for five consecutive settlement days at a registered clearing agency (e.g., National Securities Clearing Corporation (NSCC)); totaling 10,000 shares or more; and equal to at least 0.5% of the issuer's total shares outstanding. As provided in Rule 203 of Regulation SHO, threshold securities are included on a list disseminated by a self-regulatory organization ("SRO"). Although as a result of compliance with Rule 204, generally a participant's fail to deliver positions will not remain for 13 consecutive settlement days, if, for whatever reason, a participant of a registered clearing agency has a fail to deliver position at a registered clearing agency in a threshold security for 13 consecutive settlement days, the requirement to close-out such position under Rule 203(b)(3) remains in effect.
+
+Rule 204 Exception: Rule 204 provides an extended period of time to close out certain failures to deliver. Specifically, if a failure to deliver position results from the sale of a security that a person is deemed to own and that such person intends to deliver as soon as all restrictions on delivery have been removed, the firm has up to 35 calendar days following the trade date to close out the failure to deliver position by purchasing securities of like kind and quantity.
+
+Okay lets start with what is happening, since before January the SHF (short Hedge Funds) realized that they couldn't bankrupt GME anymore. Their new goal is to get the price to be as low as possible before they cover due to almost all the Hedge Funds short already being at 49% losses or more. In 2019, before they were going to short GME to death they wanted to profit off of the derivatives market and placed puts on Jan 15th a huge options date that could have been bet on years out. At T+3 we saw a big run up Jan 22 from T+4 opened 42$ closed 65$ running to 96$ before premarket. The next day, T+5 was trash it opened at 96$ and closed at 76.79$ (not special). This was followed with T+6 where the latest date to close was opened at 88.56 and closed at 147.98 after markets running to 354.83. May 21 lead to May 26/27 and June 1/2 T+3, T+6 sometimes the deliveries catch up after market and premarket.
+
+Time to start explaining my little working theory. I am now a hedge fund, come join me in shorting GME (theoretically). So imagine this, we want to short the crap out of GME in a few different ways. Everyday downwards pressure to suppress price, and once a month we want to unload to spike it down. In order to short GME we must first find a broker willing to lend us shares, but this provides us with a problem because we don't own these shares we have to return them in T+3 or T+6. If we provide the locate for these shares meaning we own them or a security that is "like" them then we fall under the exception.
+
+Let me paint a picture for you, June 2 closed high from the T+6 from May. June 4th I was eating a protein bar on a ruck march thinking about how fucked the HF were when I saw SSR for AMC and GME.....Then the SHF borrow shares 3 & 4 June to short and replace them T+3 which was June 8/9 the SSR was because the HF borrowed all the shares possible from the brokers and ETFs. We are hype going into the shareholder meeting, so hype about 350$ no one is questioning why the SHF bought so many OTM options on July 16th. The HF loaded their short cannons with locates for the earnings report meaning they could short shares as much as possible with their locates at close to 85M total shares in JULY-JAN2022 options chain.
+
+"If a failure to deliver position results from the sale of a security that a person is deemed to own and that such person intends to deliver", "the firm has up to 35 calendar days following the trade date to close out the failure to deliver position by purchasing securities of like kind and quantity." Funny how they shorted the crap out of GME June 10th and 35 calendar days is July 15th, the day prior to their options expiring.
+
+Let me show you what this looks like from the round table at citadel securities:
+
+Hey Ken, I can't buy you anymore time over at DTCC. I have to pass 005 but I can make sure we file it June 24 and that it doesn't get sent to the federal register until June 30th. This buys you enough time to trick them with a T+3 borrow and a massive located short sale during a share offering, not to mention their disappointment that the new rules don't work at all. The short will cause apes to lose faith when 30% of the value disappears, and the only risk is that if you cant get the price low enough to cover under 350$ before July 16th. We lose anyways because 005 is in effect and July 16th will have T+3, T+6 buys when those OTM locates expire and cannot be kicked. To make matters worse the ETFs cannot help them anymore, the Russel 1k has even less shares to borrow. This is the last ditch effort to get the price down before they have to cover. Simultaneously they are attacking us with all of these "buy this instead" plays while GME sits idle and loses value, look at the threshold securities list! Half the people hyping it don't even know wtf it means.
+
+Remember the DFV tweet from Ready Player One, sometimes we must go backwards to win the race. Remember the latest cohen tweet with the fart alluding to the south park movie where kenny watches Terrance and Phillip in the movie theater and lights his own fart on fire, then he dies by getting dumped on by a "russell's" salt truck.
+
+[I'm not making this up](https://preview.redd.it/thwgb9sjic871.png?width=926&format=png&auto=webp&s=a33017b3e7998cdb02a1f66fdabda05cce27fca2)
+
+Threshold Securities List- Threshold securities are equity securities[[11]](https://www.sec.gov/investor/pubs/regsho.htm#_ftn11) that have an aggregate fail to deliver position for five consecutive settlement days at a registered clearing agency (e.g., National Securities Clearing Corporation (NSCC)); totaling 10,000 shares or more; and equal to at least 0.5% of the issuer's total shares outstanding. Let me show you how easy this is to do with large float stocks for insert example stock...... borrow 500M*.005 shares= 2.5M and then don't return them.
+
+That's it! That's all they have to do borrow less than 1% of the float and not return it.
+
+Edit: Let me explain why I don't think net settlement is a big deal, these bad guys have an unfathomable amount of money. I highly doubt someone that controls 30% of all trading is going to go bankrupt over a single security guys. These little HFs have been going bankrupt, they have. Look at Melvin, archegos, greensill, GFG, the new one out of London. They are feeling the heat, one by one they have been failing. Getting these giant bosses to fail is a completely different story, as much as we want to see these giant ones fall it's most likely not going to happen. They will survive with bailouts, tricks, illegal trading, whatever the reason may be. Make no mistake however this is a financial revolution and we got what we wanted. These rules that are put in place will stop them from doing what they have been doing under REG SHO. Will they take a big hit at the end of the day? Yes, will they all die? No, did we change the way the game is played? Certainly. They paid to take over Reddit nuff said.
+
+Just buy and hold GME. Our time is coming.

Confirmation-Bias-and-Discussion/2021-07-01-GME-Appears-to-have-Thirty-Times-more-FTDs-than-TSLA.md

@@ -0,0 +1,46 @@
+Simple FTD math based on u/ChrisCraftTexasUSA post... GME appears to only have about 30 times more FTDs than TSLA... Just...
+============================================================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/taranasus](https://www.reddit.com/user/taranasus/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/obh3z3/simple_ftd_math_based_on_uchriscrafttexasusa_post/) | 
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+The starting point of my maths: [(1) GME FTD shares Failed to Deliver SEC link: https://sec.report/fails.php?tc=36467W109 : Superstonk (reddit.com)](https://www.reddit.com/r/Superstonk/comments/obet09/gme_ftd_shares_failed_to_deliver_sec_link/)
+
+I think "FUCK ME" is an understatement here. I've been comparing GME FTDs with TSLA FTDs since TSLA is the more "Volatile" of the stocks out there. The numbers are mind blowing.
+
+The very last datapoint we have on GME is June 14, with a FTD count of 105,712
+
+The highest ever nr of FTDs in one day for TSLA was on DEC 17, 2020, at 1,382,452 FTDs.
+
+At first glance, it would look like the tesla number is 10 bigger than the GME one no? Well you'd be right, however we need to remember that the number of outstanding shares for the two companies are wildly different. On Dec 17, TSLA had 905,000,000 outstanding shares, while on June 14, GME had only (assumed) 77,000,000 outstanding shares.
+
+So if you put these percentage wise:
+
+- TSLA: 1382452 / 905000000 * 100 = 0.1527 % of total shares were FTD
+
+- GME: 105172 / 77000000 * 100 = 0.1372 % of total shares were FTD
+
+So just a random day in June for GME had as many FTDs as Tesla did in its highest day ever in its history.
+
+So then... the question on everyone's mind... what was GME's highest FTD day? Well you see everyone, Oct 13 2020: 3,210,148. On that date, according to ycharts, GME had 65.2M outstanding shares. I'm actually going to go with 70 mill shares as I think the 65M number is wrong. So
+
+- 3210148 / 70000000 * 100 = 4.5% of total shares were FTD. THEY COULDN'T LOCATE 4.5% OF THE GOD DAMN COMPANY!
+
+SEC what the fuck are you doing??? Seriously who looks at these numbers and goes like "YEP, THIS IS FINE!". Do your god damn job!
+
+Sources:
+
+GME FTD data <https://sec.report/fails.php?tc=36467W109>
+
+TSLA FTD data <https://sec.report/fails.php?tc=TSLA>
+
+GME Outstanding Share Count data: <https://ycharts.com/companies/GME/shares_outstanding>
+
+TSLA Outstanding Share Count data: <https://ycharts.com/companies/TSLA/shares_outstanding>
+
+No fuckery going on here people....

Confirmation-Bias-and-Discussion/2021-07-01-T+35-Follow-Up.md

@@ -0,0 +1,90 @@
+T+35 Follow Up [some general thoughts]
+======================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/dentisttft](https://www.reddit.com/user/dentisttft/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/obng9s/t35_follow_up_some_general_thoughts/) | 
+
+---
+
+[Discussion 🦍](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Discussion%20%F0%9F%A6%8D%22&restrict_sr=1)
+
+Hello everybody! Yes, I'm still here.
+
+I wrote a post a couple weeks ago about T+35 FTD's. [T+35 is the one true "cycle"](https://www.reddit.com/r/Superstonk/comments/o155a6/t35_is_the_one_true_cycle_evidence_to_back_my/)
+
+I've been wanting to write a follow up post for a while, but I didn't want to write it until I had more answers. That led me down a very deep and confusing path tracking ETFs, and to be honest, I probably won't be able to get a full picture for a bit. So I'll go ahead and do a quick follow up post now.
+
+Does T+35 still happen?
+
+Yes. They're not always easy to spot. 6/25 had 40,000 FTDs were most likely covered at 12:20 EST. 6/17 had a 90,000 volume candle which could have easily been the next three days worth of FTDs. Remember, there is nothing forcing them to wait until the last day. This is just what they HAVE been doing. After my post got some attention, I noticed a difference in the FTD behavior. Either they wait until the last possible minute, they cover in the first minute, they cover multiple days early, etc.
+
+Why is it 35 days? (technically, before the 35th day)
+
+The stock gets shorted and settles into an FTD in T+2. Normally, Rule 204 would require them to close the FTD within a day or two. But on the FTD day, they sell a put giving them the "deem to own" clause of Rule 204. When they are "deemed to own" a share, they are able to wait 35 days from the *transaction date*. This is why the 34 days starts on the FTD date, not the date it was shorted like you may think.
+
+If you want proof of this, there is a certain stock that reminds me of a leprechaun. It had a HUGE FTD day in early june. Next thing you know, Put OI sky rocketed. Check other less popular meme stocks and you will probably see the same thing.
+
+What about ETF FTDs?
+
+In my post I stated that ETF FTDs behave the same way as GME FTDs. This is only partially true. They DO get delayed 35 days. They DO NOT get covered on the 34th day following the FTD. There are details within Rule 204 that make the timing slightly different. I've spent the last couple of weeks figuring out all the nitty gritty details... but woah... it's a mess. I'd like to make a post sometime soon with my findings.
+
+Why do FTDs not do much anymore?
+
+It looks like they are shorting the ETFs when they have GME FTDs due and shorting GME when they have ETF FTDs due. You can see this by going 34 days from an ETF FTD. The ETF and other non meme stock in the ETF will rise from the cover but GME will stay flat. I plan on covering this more in my future ETF post. But damn, that spring is getting extremely coiled.
+
+[![r/Superstonk - T+35 Follow Up [some general thoughts]](https://preview.redd.it/tzjywmtg4m871.png?width=2242&format=png&auto=webp&s=3d1b425ba9041c37465618d6181449f8d8ab3d19)](https://preview.redd.it/tzjywmtg4m871.png?width=2242&format=png&auto=webp&s=3d1b425ba9041c37465618d6181449f8d8ab3d19)
+
+Heatmap of ETF FTDs (not weighted by %GME). Each ETF is colored individually so they are on their own scale.
+
+The top third is the heavier ETFs. Look at those cycles. Fun stuff.
+
+Why didn't the new 002 rule do anything?
+
+I tried leaving a few comments to explain this, but I'm sure a lot of people didn't see it. Remember they were *already* satisfying the requirements of the old monthly rules when the new rule came into effect. The deposit for the old monthly rule was already made. I don't see any reason why they suddenly would be over budget from a daily check. The effects of 002 probably won't be seen until the next GME run up.
+
+Do the FTDs even matter?
+
+GME FTDs, no... ETF FTDs, yes. The problems that were coming from the high numbers of GME FTDs have moved to the ETFs. Until the ETF FTDs hit a breaking point, GME will most likely stay flat and have an occasional spike like we saw on Wednesday. The way I see it, moving the problems to ETFs only delays everything at the cost of inflating the entire market.
+
+When is the next big T+35 day?
+
+Friday and Tuesday look decent. But history tells me it will be a spike and then settle again. They are putting in a lot of money to keep GME from taking off.
+
+What does that mean for me?
+
+Keep doing what you're doing. It's building up. It's coming, probably sooner than you think. Future posts will cover this.
+
+Want to see something fun? GME is repeating itself.
+
+The weeks after January are currently happening again at a higher floor. Why? I don't know. It might have to do with quarterly options that have been open for a while. But I wouldn't expect anything to happen for a week or two. ** not manipulated... I swear... hehe **
+
+[![r/Superstonk - T+35 Follow Up [some general thoughts]](https://preview.redd.it/cb1m05dm5m871.png?width=1097&format=png&auto=webp&s=5605fd333b0ac1d9b31c6ad16a290acd15d9202a)](https://preview.redd.it/cb1m05dm5m871.png?width=1097&format=png&auto=webp&s=5605fd333b0ac1d9b31c6ad16a290acd15d9202a)
+
+What about T+21?
+
+I don't know. I'm still not sure T+21 is a thing. I think there are other factors in play that ended up giving GME spikes 21 days apart. Possibly two T+35 cycles at the same time. I have reason to believe the spike in May and the two in June came from ETFs. These are the same reasons I don't think there will be much longer to wait. A couple weeks... but more on that in another post.
+
+---------------------------------------------------------------------------
+
+Alright, that's about all I wanted to cover as a follow up. Sorry it isn't full of juicy content. I was waiting to post until I had real answers, but it's taking longer than expected. The ETFs are the key to the puzzle and they're hitting a boiling point.
+
+TL;DR:
+
+-   T+35 with GME FTDs still is a thing, but GME is being suppressed pretty hard right now.
+
+-   T+35 with ETF FTDs works, but it's not 35. It's 35 days from the puts being sold. I'll have a new post in the future with more details.
+
+-   The driving forces behind GME have moved into the ETFs.
+
+-   HFs are switching back and forth between shorting GME directly and shorting the ETFs to keep GME consistently down.
+
+-   I'll have a post about ETFs in the next 4-5 days.
+
+Also, I made a twitter account so I can post thoughts throughout the day without needing to write a full post. I don't know how much I'll use it. <https://twitter.com/dentisttft>
+
+I had to turn off most of my notifications. The best way to get a hold of me is by tagging me in a comment. It never notifies me of tags in posts... so make sure it's a comment. I try to respond to all tags.
+
+Alright, pce~~~
+
+- [u/dentisttft](https://www.reddit.com/u/dentisttft/)

Confirmation-Bias-and-Discussion/2021-07-05-RCs-Tweets-are-Time-with-ETF-FTDs.md

@@ -0,0 +1,60 @@
+RC's tweets are timed with ETF FTDs
+===================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/dentisttft](https://www.reddit.com/user/dentisttft/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oeahh2/rcs_tweets_are_timed_with_etf_ftds/) | 
+
+---
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+*This post is for education purposes only. Not financial advice.*
+
+TL;DR: RC's tweets happen on days where large amounts of ETF FTDs are covered/delayed.
+
+Hi everyone,
+
+I've been diving into ETF FTDs for a while now and something finally clicked. *Almost every RC tweet happens on the same day a large amount of ETF FTDs are "cleared".* ETF FTDs are allowed to stack up for 3 days before needing to be handled. So when a specific ETF stacks up a decent chunk of FTD, puts are opened to delay 34 days, then RC tweets.
+
+To show what I mean, I weighted the ETF FTDs by GME's weight within the ETF. GME is in a lot of ETFs, but these are the ETFs with significant enough FTDs: IWM, XRT, XSVM, FTXD, BUZZ, XSMO, IWC, FNDX, IJR, SPSM, SFYF, PSCD, SLYV, VXF, IJT, GINN, and VB.
+
+Below is a heatmap of those ETFs. Each ETF is a different row, each trading day is a different column. The green color shows where a lot of FTDs are. The darker the green, the more ETFs. The blue marks a day where RC tweeted. If you look at a blue column and track it down, there is an ETF or two that had just cleared their stacked FTDs from the day earlier.
+
+[![r/Superstonk - RC's tweets are timed with ETF FTDs](https://preview.redd.it/q7fwa3kn1f971.png?width=1714&format=png&auto=webp&s=a82cf29f39b7996f3de3e34460ba6f615120d3e7)](https://preview.redd.it/q7fwa3kn1f971.png?width=1714&format=png&auto=webp&s=a82cf29f39b7996f3de3e34460ba6f615120d3e7)
+
+Tweets come the day FTDs are cleared - EDIT: outside of the fist emoji (DFV), flag (35 days before memorial day which had GME FTDS), job posting (35 days before June 2 runup), and one of the south park GIFs
+
+I have an old post from May that claims the Ted tweets are referencing Rule 204: Close-out requirements, the rule the that specifies the thirty-five day cover period.
+
+[RC Tweet Analysis: Part 1 [The Ted Tweets]](https://www.reddit.com/r/Superstonk/comments/niui83/rc_tweet_analysis_part_1_the_ted_tweets/)
+
+So using [my T+35 theory](https://www.reddit.com/r/Superstonk/comments/o155a6/t35_is_the_one_true_cycle_evidence_to_back_my/), I marked every trading day that came 35 calendar days after a tweet on the 4H chart. You'll see that most tweets end up corresponding to a jump in GME's price. Gray lines are tweets, green lines are 35 days after a tweet.
+
+[![r/Superstonk - RC's tweets are timed with ETF FTDs](https://preview.redd.it/ngufchm54f971.png?width=1307&format=png&auto=webp&s=57ee666bc94c2f54ab09d22e72726e46178964bb)](https://preview.redd.it/ngufchm54f971.png?width=1307&format=png&auto=webp&s=57ee666bc94c2f54ab09d22e72726e46178964bb)
+
+GME 4H chart with new tweets marked in gray and T+35 of tweets marked in green.
+
+Not every tweet corresponds to a jump, but a lot do. The last few tweet's T+35 jump during after hours/premarket after the 35th day because technically they can be covered before 9:30 AM EST on the following day. Notice how a new tweet ends up being very close to the T+35 of an old tweet? To me this visually shows the process of kicking the can down the road. GME is getting suppressed pretty hard so let's mark 35 days after a tweet on SPY. You'll notice green days more consistently on SPY.
+
+[![r/Superstonk - RC's tweets are timed with ETF FTDs](https://preview.redd.it/ycd7osw34f971.png?width=1305&format=png&auto=webp&s=fa0047eb004c9c3ed00aed02493a7c785433135a)](https://preview.redd.it/ycd7osw34f971.png?width=1305&format=png&auto=webp&s=fa0047eb004c9c3ed00aed02493a7c785433135a)
+
+SPY 4H chart with T+35 of tweets marked in green.
+
+Why is that? Because if a lot of ETF FTDs are being covered on these days, then a lot of underlying stock are being bought to return the ETFs. If a lot of underlying stock rises in value, SPY should rise in value too. GME is being shorted on these days, so it doesn't move much. But they can't short the entire market. I believe the sheer number of ETF FTDs needing to be covered every week is leading to the market inflation that has been seen for the past few months.
+
+What does this mean for the future?
+
+I've highlighted days where I expect upward GME movement. But since GME is being held down so much lately, I would expect more upward movement from SPY.
+
+[![r/Superstonk - RC's tweets are timed with ETF FTDs](https://preview.redd.it/2u5qd8n53f971.png?width=1390&format=png&auto=webp&s=592a6eb2bd74c64efbae25ad3a5100789307701b)](https://preview.redd.it/2u5qd8n53f971.png?width=1390&format=png&auto=webp&s=592a6eb2bd74c64efbae25ad3a5100789307701b)
+
+Red boxes on dates of T+35 from ETF FTDs.
+
+That's all I got for today. I'm planning on dropping the ETF FTD DD tomorrow morning. It will go more in depth about the details surrounding this.
+
+pce~~
+
+- [u/dentisttft](https://www.reddit.com/u/dentisttft/)
+
+PS. I made a twitter: <https://twitter.com/dentisttft>

Confirmation-Bias-and-Discussion/2021-07-07-Citadel-Has-Hostages.md

@@ -0,0 +1,74 @@
+Citadel has hostages: explaining why the MOASS is taking so long, how the January spike was stopped, Robinhood's motives for the trading halt, and the mysterious silence of the SEC
+====================================================================================================================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/Bladeace](https://www.reddit.com/user/Bladeace/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/ofdhkk/citadel_has_hostages_explaining_why_the_moass_is/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+TA;DR: The January MOASS is delayed because Citadel took hostages. They figured out how to ensure that others would be squeezed before they were. January 28th is the day Robinhood was required to deliver some of the GME shares Citadel owed to its customers, so they halted trading. They halted trading because their relationship with Citadel turned them into a hostage. The MOASS waits until new regulations ensure the hostages are safe...
+
+TL;DR: Citadel wasn't going to be squeezed in January, Robinhood was. Citadel took hostages and figured out how to ensure that others were squeezed before they were. Robinhood halted trading after GME was on the threshold list for 35 days. After 35 days of failures to deliver, a broker becomes responsible for delivering the security to their customer. The MOASS is taking so long because Citadel managed to figure out how to make their short position other people's problem. This is why Citadel seems to have so many people protecting it and willing to lie for it: they've spent six months figuring out how to ensure it's actually Citadel that gets squeezed. This is why there is an unusual cooperation between parties we wouldn't expect to be able to keep this secret for this long. Not even the SEC can address this directly, Citadel figured out how to take everyone hostage. The past six months have been a negotiation to figure out how to deliver our tendies.
+
+Theory: Robinhood halted trading the day they became liable for delivery of the GME shares Citadel sold to their customers
+
+I think Robinhood halted trading because they were required to purchase GME shares to deliver their customers' past orders. Look at this requirement from [SHO § 242.203 (b2)](https://www.law.cornell.edu/cfr/text/17/242.203):
+
+[![r/Superstonk - Citadel has hostages: explaining why the MOASS is taking so long, how the January spike was stopped, Robinhood's motives for the trading halt, and the mysterious silence of the SEC](https://preview.redd.it/el9inu75kq971.png?width=1066&format=png&auto=webp&s=950d9158e1ede602b68c834ec9da9552e464e3a3)](https://preview.redd.it/el9inu75kq971.png?width=1066&format=png&auto=webp&s=950d9158e1ede602b68c834ec9da9552e464e3a3)
+
+If a Robinhood customer buys shares that are cleared by Citadel Securities, their delivery is not a problem for Robinhood *unless it takes longer than 35 days*. Once a security has taken longer than 35 days to be delivered, Robinhood is responsible for delivering it to their customer. Citadel still has to deliver the security too, but they deliver to Robinhood. So, the chain of obligation goes like this:
+
+1.  Your broker/dealer owes you the security they sold you
+
+2.  The market maker owes your broker the security they sold to the broker
+
+3.  The seller of the security owes the market maker the security they sold to the market maker
+
+The key point is that *your broker is the one who owes you the shares you buy.* If someone else fails to deliver those shares, it's your broker's problem (although they have some ability to make this into your problem, there were too many GME shares owed to avoid their SHO obligations).
+
+*(Expanded explanation, boring - you should skip)*
+
+So, if I want to sell a share on the market (strictly hypothetical, I've never actually tried selling), then I do not owe the sold share directly to the buyer of that share. I send my sell order into the market via my broker and they send that off to the market center where the order is executed by a market maker. I sell my share to the market maker executing the trade. The market maker then sells that share to the broker of whichever ape has brought it and the broker then sells that share to the buyer. Assuming this goes smoothly, my share ends up in the account of the buyer. However, technically speaking, I do not owe the security to the buyer. I owe the security to the market maker, who owes it to the broker, who owes it to the buyer. So, if something goes wrong, and I fail to deliver that share, I have not defaulted on my sale to the buyer, I have defaulted on my sale to the market maker executing the trade. That market maker still owes the share to the buyer's broker, regardless of my failure.
+
+*(End of skippable content)*
+
+I suspect that Citadel had been failing to deliver GME shares to Robinhood for an extended period, which is why Robinhood halted buying. Their primary motive was not to help Citadel, but to protect themselves *from* Citadel. After 35 days of failure, Robinhood has to buy the shares they expected Citadel to deliver for their customers. Effectively, due to Citadel's failures to deliver, Robinhood had inherited Citadel's short position. Citadel owed Robinhood and Robinhood owed their customers. I should clarify that, in this scenario, Citadel still owes Robinhood the shares at some point, but Robinhood has to deliver them to their customers *now*. At first, Robinhood didn't care that Citadel owed shares to their customers, until it went on for too long and Robinhood was on the hook to deliver.
+
+Proof: the timing lines up
+
+For this to be true, you would expect there to be a relationship between when Robinhood halted trading and the 35 day threshold. If you look at my recent [post on the relationship between the threshold security list and the January price spike](https://www.reddit.com/r/Superstonk/comments/oao9oo/the_nyse_threshold_list_collapsing_shorts_and/?utm_source=share&utm_medium=web2x&context=3) you'll see that GME was on the threshold list for 39 consecutive settlement days, from early December to early February. Robinhood halted trading on January 28, which is *day 35* of this 39 day streak. The trading halt aligns with when the obligation for Robinhood to deliver kicks in. As soon as the undelivered shares became Robinhood's problem, trading was halted. Frankly, I would have expected them to halt trading earlier than the final moment, day 35, but perhaps waiting until the last moment will allow them some legal defense in the court cases to come?
+
+Proof: the weird cost basis after transfer
+
+A number of users pointed out that their [purchase prices and dates were incorrectly reported when transferring from Robinhood to other brokers](https://www.reddit.com/r/Superstonk/comments/ncezct/so_robinhood_finally_sent_over_my_cost_basis_from/?utm_source=share&utm_medium=web2x&context=3). I suspect this is because Robinhood initially sold their users the shares based on delivery promises made by Citadel that Citadel then failed to fulfil. So, after 35 days, Robinhood had to fulfil them instead. My guess is that this process was an absolute mess because it required Robinhood to at least appear to be purchasing GME shares from someone *other* than Citadel, which is rather awkward when Citadel is a designated market maker for GME on all major exchanges. The transaction dates and prices are wrong because the trade that was eventually settled for your GME shares *was not the same trade you sent to your broker* - that trade failed and Robinhood had to redo it after 35+ days.
+
+This might help explain why [my analysis of the 605 data](https://www.reddit.com/r/Superstonk/comments/nc1h4o/findings_from_my_analysis_of_605_data_huge_short/?utm_source=share&utm_medium=web2x&context=3) found that the proportion of GME order executions done through NASDAQ spikes in February, despite being almost non-existent prior to Feb 2021. If Robinhood needs to buy-up GME without going *directly* through Citadel, they'll need to get inventive and perhaps even use over the counter purchases. So, go to a market center that has very little history of executing GME orders - NASDAQ. It's possible that Robinhood borrowed/brought GME from a variety of places to cover for the clusterfuck Citadel dumped them with, and then allocated those GME shares that actually got delivered to customers that transferred. If you had a massive shambles of shares like this, it might manifest in an inaccurate and messy purchase history for your customers.
+
+Proof: others halted trading too
+
+Robinhood wasn't the only one that halted trading. It's difficult, but not impossible, for Citadel to have orchestrated this behind the scenes. It's much easier to explain this seemingly organized trading halt by pointing out that the brokers who halted trading *only halted trading when they themselves became obligated to deliver the shares in question.* This is why they halted trading *after* the price had already been spiking - my guess is that Citadel was putting on pressure behind the scenes too, but I don't think it's a coincidence that trading didn't actually halt until the time arrived that the brokers themselves were threatened with delivery obligations.
+
+Context and discussion: saving Citadel
+
+Notice that my theory does not do Robinhood any favors - this is not a defense of them or their actions. I suspect, as was claimed during the congressional hearings, the trading halt was the main reason the January spike ended. If my theory is correct, it's likely that the ending of the January spike saved Citadel. This claim is nothing new. What I think my theory adds to the discussion is a better explanation of why Robinhood and others did this. Remember, the buying halt was a disaster for Robinhood! They were dragged in front of congress, their reputation is in tatters, and they're bleeding customers. Halting buying was *not* a good play. My guess is that they knew it would be a disaster and did it anyway. I think that this is why they waited right up until day 35 of GME's run on the threshold list - they didn't help Citadel until the only other option was delivering the undeliverable. In January, those who halted trading were slated to be the first victims of the MOASS.
+
+Further implications: MOASS is so slow because Citadel has hostages
+
+I suspect that the implications of what almost happened to Robinhood in January are why we're seeing some of the recent regulation changes ('clarifications'). I think that it was *Robinhood and not Citadel that was squeezed in the January spike*. Citadel is a market maker with its own market center, it has privileges and exemptions that make it quite resilient (as we've found out over the past six months). Robinhood does not have the same level of protection from its exposures, once the 35 day settlement mark passed, they had to deliver shares. It was the brokers that needed to buy shares from the 28th onwards: Citadel's failures to deliver were, in the short term at least, the brokers' problem. For all we know, Citadel didn't cover any of the deliveries that finally got GME off the threshold list at the beginning of February and managed to force the brokers to do it for them. If they were willing to abuse the market enough, perhaps via abuse of NASDAQ in February as my previously linked post discusses, Citadel might have even used the brokers need to deliver as a way of *expanding* their short position substantially while 'technically' resolving the failures to deliver (kicking the can down the road to another day). I guess there is no better ally than one who has to pay your debt if you go under...
+
+So, if my theory is correct, January almost saw Citadel's failures result in *someone else* getting squeezed! Perhaps this is why the trading halt became the focus of the congressional hearings. Maybe this is why the DTCC has focused so many of their new regulations on clarifying what happens if positions need to be forcibly closed. January might have demonstrated that a market center, such as Citadel Securities, could contrive a scenario where they force *someone else to be squeezed by their short position!*
+
+In [my post examining the February gamma](https://www.reddit.com/r/Superstonk/comments/mvvuhp/feb_2426_failed_launch_attempt_and_proof_the_dtcc/?utm_source=share&utm_medium=web2x&context=3), I argue that the bizarre market activity near the end of February was a failed attempt to begin the MOASS. If my theory that Robinhood, not Citadel, was being forced to deliver in January is correct, I don't think it's any surprise that attempts to begin the MOASS have been prevented since January. The regulations required updating to prevent Citadel from forcing others to be squeezed before they were. If I am correct, Citadel was holding everyone hostage. The embodiment of too big to fail: not just because of the havoc their sudden demise would cause, but because *they wouldn't be squeezed until after the squeezing of all the smaller parties caught in the impossibly convoluted web of failures to deliver and rehypothecation that Citadel shat into the market.* Lots of entities were exposed to the squeeze, and Citadel was setup to be hit last.
+
+The MOASS can't launch until the hostages are safe. It needs to be Citadel that's squeezed. Otherwise, the squeeze might wreak havoc on the market with no guarantee that the one responsible dies too. There was no choice but to wait. Meanwhile, Citadel is a huge market center with substantial political clout and presence in the regulators themselves. So, setting up the regulations for the MOASS took time. It was urgent, but those involved were regulating against one of their own.
+
+I think this offers a compelling explanation for what we've been living through over the last six months because it attributes a strong motive to the parties involved to remain silent. Explaining why this debacle has lasted six months is very difficult. It's an absolute disaster and we haven't even heard anything from the SEC. What could justify this level of cooperation to keep lips tight, just to delay the inevitable? Why such slow action as the problem gets bigger? My guess is that Citadel has hostages and it's taking a lot of careful work behind the scenes to figure out how to be sure that Citadel is the one that takes the fall. With everyone's hands tied and the need for secrecy so high, the job takes time.
+
+As a disgusting parting thought, I should mention that, if I'm right, my theory predicts that those responsible will suffer only minimal punishment. I suspect it's taken six months because they've needed at least some cooperation from Citadel to sort this out. If this is true, my guess is that Citadel spent February trying to get out of their predicament and refused to cooperate with attempts to arrange the MOASS that will kill them. The February gamma might have been other parties preventing Citadel's efforts to make the situation worse and forcing Citadel to come to the negotiating table. During the early months we saw market activity that indicated whales were fighting each other. I think this was Citadel trying to escape their own trap and whales preventing them, knowing it was too dangerous to let Citadel make things worse while it held the system hostage. Notice that this explains why, relatively speaking, the GME activity calmed slightly as this dragged on: Citadel was forced to the negotiating table and has been helping plan and regulate its own destruction. I suspect the payment for this cooperation will be those involved getting off lightly, because the alternative would be to have the MOASS without them releasing the hostages. Unfortunately, if I'm right, we'll see those responsible living in Florida after this is over. Bankrupt and embarrassed, but more comfortable than the plebs.
+
+Obvious but crucial disclaimer: I am a random on the internet spinning yarns about a conspiracy theory. As I was posting this thread, I decided to literally wear a tinfoil hat. Anyone reading this should understand my tinfoil attire to mean that I am not competent enough to be offering any advice or taken seriously. Readers must carefully examine any claims made here independently and not regard my words as authoritative.
+
+Thank you to [u/RoutineYesterday267](https://www.reddit.com/u/RoutineYesterday267/) for a post that led to me writing this

Confirmation-Bias-and-Discussion/2021-07-07-The-Whole-Stock-Market-is-Being-Propped-Up-by-the-RRP-Market.md

@@ -0,0 +1,57 @@
+The whole stock market is being propped up by the RRP market and today I got confirmation bias.
+===============================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/titaniumoxide202](https://www.reddit.com/user/titaniumoxide202/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/ofr285/the_whole_stock_market_is_being_propped_up_by_the/) | 
+
+---
+
+
+[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
+
+I saw a wrinkly brained ape's youtube video (sorry I watch so much shit I can't find who made it) on how the dow jones, S&P, prime brokerages and big banks' (including international ones) stocks tank at around 10 am and then suddenly recover because they NEED the RRP market to post more collateral. I didn't believe it until I checked the charts today. These charts look IDENTICAL to each other. The price is not only wrong for GME but the entire global stock market price is wrong too. HOLY. FUCKING. MOLY. JACKED=TITs.
+
+Edit: <https://www.youtube.com/watch?v=J5J1pW1rVA8> here's the link. Thanks [u/The_Fake_King](https://www.reddit.com/u/The_Fake_King/)
+
+P.S They aren't even trying to be discrete anymore. They are DESPERATE.
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/dy7erkoclu971.png?width=1242&format=png&auto=webp&s=33f90da5abc2f22e292676225f5e7d7ac247114b)](https://preview.redd.it/dy7erkoclu971.png?width=1242&format=png&auto=webp&s=33f90da5abc2f22e292676225f5e7d7ac247114b)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/0ajrqecxku971.png?width=1242&format=png&auto=webp&s=ba15822bc72953300d9ffdb838d12a3915fa197b)](https://preview.redd.it/0ajrqecxku971.png?width=1242&format=png&auto=webp&s=ba15822bc72953300d9ffdb838d12a3915fa197b)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/6jxs7ccxku971.png?width=1242&format=png&auto=webp&s=8e4384605d0fd84000c9de41fb91bf3a644b9293)](https://preview.redd.it/6jxs7ccxku971.png?width=1242&format=png&auto=webp&s=8e4384605d0fd84000c9de41fb91bf3a644b9293)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/n9dxpn3kku971.png?width=1242&format=png&auto=webp&s=1c98442d7f3487e88f49aa65bc65125be00323da)](https://preview.redd.it/n9dxpn3kku971.png?width=1242&format=png&auto=webp&s=1c98442d7f3487e88f49aa65bc65125be00323da)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/b2y4jz3kku971.png?width=1242&format=png&auto=webp&s=7a214711c089e322f9bbab4d5206dd7588874fff)](https://preview.redd.it/b2y4jz3kku971.png?width=1242&format=png&auto=webp&s=7a214711c089e322f9bbab4d5206dd7588874fff)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/vs1v0t3kku971.png?width=1242&format=png&auto=webp&s=86a56c683e85961d8b485643cfd8657506111405)](https://preview.redd.it/vs1v0t3kku971.png?width=1242&format=png&auto=webp&s=86a56c683e85961d8b485643cfd8657506111405)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/zrnf6m3kku971.png?width=1242&format=png&auto=webp&s=3cf7085790430cc788d36832cf60f3e3d506cae5)](https://preview.redd.it/zrnf6m3kku971.png?width=1242&format=png&auto=webp&s=3cf7085790430cc788d36832cf60f3e3d506cae5)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/sbfbnp3kku971.png?width=1242&format=png&auto=webp&s=11958c4e60087c5a90836bbe5b6cb907f85d0143)](https://preview.redd.it/sbfbnp3kku971.png?width=1242&format=png&auto=webp&s=11958c4e60087c5a90836bbe5b6cb907f85d0143)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/428koz3kku971.png?width=1242&format=png&auto=webp&s=966b2ebec618ca1f77a7c7b6e22d1a92f0df389f)](https://preview.redd.it/428koz3kku971.png?width=1242&format=png&auto=webp&s=966b2ebec618ca1f77a7c7b6e22d1a92f0df389f)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/34duc34kku971.png?width=1242&format=png&auto=webp&s=87817270edad52fdaa030912dd78df70d589532e)](https://preview.redd.it/34duc34kku971.png?width=1242&format=png&auto=webp&s=87817270edad52fdaa030912dd78df70d589532e)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/hgwpsc4kku971.png?width=1242&format=png&auto=webp&s=69d9e5e346aca7d1eba6def5855a29abeb88dd16)](https://preview.redd.it/hgwpsc4kku971.png?width=1242&format=png&auto=webp&s=69d9e5e346aca7d1eba6def5855a29abeb88dd16)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/9ht1o34kku971.png?width=1242&format=png&auto=webp&s=842bae394de413b9510f5d08c352857a68ef1541)](https://preview.redd.it/9ht1o34kku971.png?width=1242&format=png&auto=webp&s=842bae394de413b9510f5d08c352857a68ef1541)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/i98i0j3kku971.png?width=1242&format=png&auto=webp&s=67caeb722a196092e2a1e67da20527d77e0d05e9)](https://preview.redd.it/i98i0j3kku971.png?width=1242&format=png&auto=webp&s=67caeb722a196092e2a1e67da20527d77e0d05e9)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/6uj8sn3kku971.png?width=1242&format=png&auto=webp&s=7497d256e507fa949de849b9da4dc90adc15d88a)](https://preview.redd.it/6uj8sn3kku971.png?width=1242&format=png&auto=webp&s=7497d256e507fa949de849b9da4dc90adc15d88a)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/e944tz3kku971.png?width=1242&format=png&auto=webp&s=fc4330182481ef3d07d2de1c382118804df8e3d2)](https://preview.redd.it/e944tz3kku971.png?width=1242&format=png&auto=webp&s=fc4330182481ef3d07d2de1c382118804df8e3d2)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/y4um9l3kku971.png?width=1242&format=png&auto=webp&s=b57870485f4e9a347ed111fb9818a2cd3b31d064)](https://preview.redd.it/y4um9l3kku971.png?width=1242&format=png&auto=webp&s=b57870485f4e9a347ed111fb9818a2cd3b31d064)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/xtvl7h3kku971.png?width=1242&format=png&auto=webp&s=7141d752ff4b045c31d55e7a6102f30065e4657d)](https://preview.redd.it/xtvl7h3kku971.png?width=1242&format=png&auto=webp&s=7141d752ff4b045c31d55e7a6102f30065e4657d)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/ydb8fm3kku971.png?width=1242&format=png&auto=webp&s=3d0d72944c9e3460130082225467e84bacdb0bcc)](https://preview.redd.it/ydb8fm3kku971.png?width=1242&format=png&auto=webp&s=3d0d72944c9e3460130082225467e84bacdb0bcc)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/qwealf3kku971.png?width=750&format=png&auto=webp&s=9d00ae8ae35037eca09ea48368d9e668ac0b336e)](https://preview.redd.it/qwealf3kku971.png?width=750&format=png&auto=webp&s=9d00ae8ae35037eca09ea48368d9e668ac0b336e)
+
+[![r/Superstonk - The whole stock market is being propped up by the RRP market and today I got confirmation bias.](https://preview.redd.it/7fa0xk3kku971.png?width=750&format=png&auto=webp&s=edcc8956475920c1f7a75638e49c5d42cc42594c)](https://preview.redd.it/7fa0xk3kku971.png?width=750&format=png&auto=webp&s=edcc8956475920c1f7a75638e49c5d42cc42594c)

Confirmation-Bias-and-Discussion/2021-07-26-Piecing-Together-the-ITM-CALLs-and-the-OTM-PUTs.md

@@ -0,0 +1,219 @@
+[Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.
+=====================================================================================================================================================================================================================================================================================
+
+| Author      | Source | 
+|  :----:     |    :----:   |        
+| [u/Criand](https://www.reddit.com/user/Criand/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/orr9tf/speculative_piecing_together_the_itm_calls_and/) |
+
+---
+
+
+[Possible DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Possible%20DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+0\. Preface
+
+I am not a financial advisor. I do not provide financial advice.
+
+This post is speculative - and warrants discussion. I'm mainly looking for the answers to the following questions, and (I think) they are answered by this post. But who knows for sure since there is a lot of data and information that we can't see. I'd like to stir the pot and see if anyone can find holes or come up with a better answer.
+
+I've been discussing this with a few others on Discord. Notably "Assets" was the one who described the risk-swap theory. I wanted to try to piece the theory together with the data we see for further discussion.
+
+TLDR / Questions In Mind:
+
+-   TLDR: Melvin was the most overextended of all of the SHFs (including Citadel HF and Point72). Melvin got margin called when GME opened at $96 on January 25th, an increase from January 22nd's close of $65.01. So, Melvin required a cash injection of $2.75 Billion to meet the margin call. Since the retail rally wasn't letting up, they had to swap risk from Melvin to avoid continuous margin calls. Melvin closed their short position and ate the 53% loss. Citadel opened up a new short position to help Melvin close their shorts through ITM CALLs. Citadel then sells Melvin OTM PUTs so that Melvin can potentially profit off of their short position again when $GME goes down. As those PUTs expire, Melvin loses out on profits and Citadel is left holding a larger bag. Point72 and Citadel both aided in the injection, so they both most likely are exposed to GME shorts as well and had an interest in Melvin staying alive. Point72 was "down 15%" in January and could be the reason the price drops from $350, which is potentially Point72's margin call price. It's taking forever to squeeze because Citadel is holding the main bag.
+
+-   Q: Why did SI% drop and not go up?
+
+    -   A: Melvin, the most overextended of the SHFs, did close out their short position by transferring the short position to Citadel whom is harder to squeeze. Melvin did this through ITM CALLs to obtain shares to close with, while Citadel borrowed shares it hadn't located yet in order to satisfy the CALLs. They had to do this due to illiquidity of the stock and avoid driving the price through a market order. This opened a new short position on Citadel's end. Citadel can presumably can-kick the short position that they took the bag of so that it doesn't appear on SI% due to special market making privileges. But, as the price remains high, Citadel remains the bagholder because that transferred short position remains open.
+
+-   Q: Why are there a ton of OTM PUTs that expire and do nothing?
+
+    -   A: The OTM PUTs are presumably Covered PUTs that Citadel sold back to Melvin which are covered by the short position that Citadel opened when they transferred the risk. It allows Melvin to potentially profit off of their original short position again. Upon expiration Melvin loses out on their potential profits, and Citadel holds a larger portion of the bag. Remember - when hiding FTDs you're simply resetting the timer of T+2. You cannot "hide" an FTD in an option for an extended amount of time. Only reset the timer. So, the OTM PUTs are most likely a play by Melvin to profit off of the price dropping since they ate a 53% loss.
+
+-   Q: Why are they not opening any more OTM PUTs?
+
+    -   A: The transfer of risk has already been completed and Melvin ate the 53% loss. Them opening the mass amount of PUTs in January could have been an overconfidence play, thinking that retail would have sold and GameStop would have decayed enough in price to churn profits off of the PUTs. Seeing how retail isn't letting up, Melvin is giving up and leaving Citadel to hold the bag. There's no reason to open up more worthless PUTs against their original short position if Melvin is no longer holding the bag and it no longer looks like a profitable play.
+
+-   Q: Why did nearly 130 million shares worth of ITM CALLs get traded in January?
+
+    -   A: The "buy-write" transaction is defined by the SEC as being used to reset a failure to deliver. At the time, there were only 3 million FTDs on record and yet 130 million shares worth of ITM CALLs being traded. There was no reason to have that large of a discrepancy in FTDs and ITM CALLs unless the trade's purpose was for something other than a reset. Best possible other scenario is that the ITM CALLs were used to transfer risk to Citadel by delivering shares to Melvin due to illiquidity in the market.
+
+-   Q: Why was Melvin down ~53% (GME = $96.73), then up ~22% in February (GME = ~$50), and then back down ~50% (GME = $180+)? Shouldn't they have much more losses?
+
+    -   A: If they performed the swap of risk by 'locking in' their losses of 53%, then the highest losses Melvin could post is roughly 53% regardless of how high GME goes. If Melvin was still holding the original short position, then we should see their losses way higher than 53% because GME was $96.73 at the time of that reporting, and GME was trading >=$180 for a while now. The OTM PUTs that Melvin opened after locking in the 53% losses increased in value to give them 22% gains. But, as all of those PUTs expire worthless, Melvin goes back towards the locked-in 53% loss. It would be pretty sad if they gained 22% and then lost it all despite the general market having an insane rally from February to July.
+
+[![r/Superstonk - [Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.](https://preview.redd.it/ntgtqv2nghd71.png?width=1904&format=png&auto=webp&s=ac413549e2eee426a5ce9243b08699d6de8be56f)](https://preview.redd.it/ntgtqv2nghd71.png?width=1904&format=png&auto=webp&s=ac413549e2eee426a5ce9243b08699d6de8be56f)
+
+The markets are very open and transparent, am I right?
+
+1\. Price Injection on January 25th. Melvin Margin Called @ $96.73
+
+Melvin Capital was established in late 2014, and Mr. Plotkin has stated that the fund has an "intense focus" on the short side (i.e. short selling). They also have posted insane returns ever since being founded:
+
+> In its first full year in operation, Melvin Capital had returns of 47%, ranking it 2nd in Bloomberg's 2015 list of top-performing funds with $1 billion or more in assets under management.
+>
+> In 2017, the fund finished up 41%.
+
+Amazing. These guys churned out insane profits multiple years in a row to grow from $1 Billion in value to over $22 Billion by the end of 2020 (22x).
+
+[![r/Superstonk - [Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.](https://preview.redd.it/nkg6g66pghd71.png?width=1502&format=png&auto=webp&s=8cc5eb348bc5d501c8d5a4999e07714bc691a30c)](https://preview.redd.it/nkg6g66pghd71.png?width=1502&format=png&auto=webp&s=8cc5eb348bc5d501c8d5a4999e07714bc691a30c)
+
+https://fintel.io/i/melvin-capital-management-lp
+
+If you plot when Melvin was first established on $GME and then watch how the price behaves, it seems pretty clear that Melvin and others started mass shorting and driving $GME into the ground.
+
+[![r/Superstonk - [Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.](https://preview.redd.it/4olph0sqghd71.png?width=2428&format=png&auto=webp&s=83308c7b1c90bbc301746ea5b341dfa9863e8b7d)](https://preview.redd.it/4olph0sqghd71.png?width=2428&format=png&auto=webp&s=83308c7b1c90bbc301746ea5b341dfa9863e8b7d)
+
+GME Price Since 2014
+
+By shorting between the prices of $48 and $3, it leaves Melvin exposed to a rather low margin call price, given 100% margin requirements. Especially if they were way overextended compared to Point72 and Citadel.
+
+On January 22nd, $GME closed at $65.01 and then opened on January 25th at $96.73. This was a massive jump in price, and Melvin most likely got margin called. In order to avoid being liquidated, Melvin was (presumably) asked to post around $2.75 Billion to their account.
+
+Which is then where Citadel and Point72 come in...
+
+The three of them are probably all short GameStop. But, Melvin was the psycho of the group who decided to short it way more than they should have shorted. All three of them knowing the true SI% and figuring they're all fucked if Melvin falls, they decide to bail out Melvin from the margin call so that they have enough time to swap the risk away from Melvin to prevent further margin calls.
+
+Point72 was (not) suspiciously down 15% in January. A situation that they refused to comment on. This was when GameStop was trading at roughly $96.73. Knowing that Melvin was most likely margin called around $96.73, I wouldn't be surprised if Point72 was the ones who were going to be margin called around the $350 price point and that's why the price has flash crashed from there multiple times.
+
+[![r/Superstonk - [Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.](https://preview.redd.it/6d5bdqesghd71.png?width=881&format=png&auto=webp&s=4a6dfce72eafc6236d78a886b08a3578f555ad83)](https://preview.redd.it/6d5bdqesghd71.png?width=881&format=png&auto=webp&s=4a6dfce72eafc6236d78a886b08a3578f555ad83)
+
+Point72 Loses 15% by January 25th (GME = $96.73)
+
+At this point, it was in Citadel and Point72's best interest if Melvin does not get liquidated and forced to cover. Instead, it is in their best interest if Melvin is bailed out and then a swap of risk of the short position occurs. The swap of risk to Citadel, the market maker, can hold the bag since they're harder to squeeze and they have special privileges.
+
+But, the only way for their plan to fully work is if retail sells. Otherwise, Citadel is continuously holding a massive short position from their overextended friend Melvin once the risk swap occurs. In the end, it is their best and only option. Take on the risk because if they don't they'll all fall and be gobbled up.
+
+To put in summary so far:
+
+1.  Melvin has most likely been shorting GameStop since Melvin's inception in late 2014. Point72 and Citadel must have joined in on the fun and generated their own bags of short positions of $GME.
+
+2.  Melvin accrued a massive bag of shorts, causing them to be margin called when $GME closed at $65.01 on January 22nd and then opened at $96.73 on January 25th. They posted a loss of 53% ($12.5 Billion) at this time.
+
+3.  Point72 and Citadel send $2.75 Billion to Melvin so that Melvin avoids being liquidated, which would have forced Melvin to close their short positions on open market. This allows Melvin to swap the risk of the short position to Citadel and get Melvin out of the picture while the retail rally isn't letting up. Thus, Point72 and Citadel the Hedgefund are saved.
+
+[![r/Superstonk - [Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.](https://preview.redd.it/0uqf5xqtghd71.png?width=691&format=png&auto=webp&s=01e5e422d46e1bac164a9740b8c3752f99122e78)](https://preview.redd.it/0uqf5xqtghd71.png?width=691&format=png&auto=webp&s=01e5e422d46e1bac164a9740b8c3752f99122e78)
+
+Losses + Injection
+
+[![r/Superstonk - [Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.](https://preview.redd.it/91tnb4zughd71.png?width=1020&format=png&auto=webp&s=6acb6f7a81dd022c06cedab268d3857254f3df41)](https://preview.redd.it/91tnb4zughd71.png?width=1020&format=png&auto=webp&s=6acb6f7a81dd022c06cedab268d3857254f3df41)
+
+Injection between Citadel and Melvin
+
+2\. Melvin The Most Overextended - Swap Risk to Citadel with ITM CALLs and lock in 53% loss.
+
+After receiving the injection of $2.75 billion when $GME was trading at $96.73, Melvin is saved from failing the margin call and from being liquidated.
+
+A problem still remains: if $GME continues to rally higher above $96.73, then Melvin will continue to be margin called and forced to post more and more liquidity to their account.
+
+Thus, a transfer of risk must be performed. The best party to transfer the risk to is Citadel the Market Maker, as they have special privileges as a Market Maker and thus are harder to squeeze. The transfer of risk is done by closing out Melvin's original short position with Citadel's market making privileges of borrowing without locating shares for the sake of liquidity. Those "shares" are then sent to Melvin through ITM CALLs. By not locating the shares, this opens up a short position on Citadel's end.
+
+What happened between the cash injection and Melvin reporting that they closed out of their position?:
+
+-   Upon January 25th, Melvin receives its cash injection of $2.75 billion to avoid being liquidated due to a margin call.
+
+-   By the end of January 26th, Melvin has closed out of their GameStop short position.
+
+-   During the January runup, close to 1.1 million ITM CALLs were traded and exercised in the same day. These ITM CALLs are how the transfer of risk can be made.
+
+[![r/Superstonk - [Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.](https://preview.redd.it/yk9p3uywghd71.png?width=727&format=png&auto=webp&s=650aea0a1fe96261ed42b82df05a57b821a8c4fe)](https://preview.redd.it/yk9p3uywghd71.png?width=727&format=png&auto=webp&s=650aea0a1fe96261ed42b82df05a57b821a8c4fe)
+
+ITM CALLs and Close Out of Short Position. ITM CALL chart per /u/broccaaa
+
+What most likely happened here is that Melvin did indeed close out their short position by locking in the 53% loss ($12.5 Billion) through the use of Citadel the Market Maker. But... the short position is now in Citadel's hands and Citadel is now holding the bag. The whole purpose of this to prevent Melvin from tumbling and bringing them all down. This swap of risk was done with the following steps:
+
+1.  Melvin buys ITM CALLs from Citadel. They use deep ITM CALLs with little to no OI + volume so that the trade is almost guaranteed between the two parties. This locks in their losses of 53%.
+
+2.  Citadel does not have the shares for the CALLs that are going to be exercised. So, they borrow shares without first locating them to feed into the ITM CALLs. Citadel can do this due to being a bonafide Market Maker.
+
+3.  Melvin exercises the ITM CALLs to get the shares from Citadel. Melvin then uses these shares to close out their short position.
+
+4.  Citadel is left holding the bag of the original short position and Melvin is now prevented from further margin calls. The riskiest domino out of Melvin, Point72, and Citadel (HF) is taken off of the table.
+
+[![r/Superstonk - [Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.](https://preview.redd.it/uep65mpyghd71.png?width=1020&format=png&auto=webp&s=d96d526b60d0a6df30133d88dac22eb94682ee72)](https://preview.redd.it/uep65mpyghd71.png?width=1020&format=png&auto=webp&s=d96d526b60d0a6df30133d88dac22eb94682ee72)
+
+Swap of risk between Melvin and Citadel
+
+3\. Allow Melvin to potentially make profit again with OTM PUTs by repositioning the portfolio.
+
+Not wanting to completely shaft Melvin now that they've closed out of their position and cannot profit off of $GME on the way back down, Melvin is given an opportunity to profit off of their original shorts.
+
+Citadel can feed the short position that they opened from the risk swap back into OTM PUTs to sell them as covered PUTs. These PUTs can be bought up by Melvin and then exercised if the price gets low enough, allowing Melvin to regain their 53% losses and possibly more profits. In essence, the whole trade would basically be a balance sheet swap where Melvin is simply repositioned to still have their short position.
+
+After transitioning the risk, Melvin (and the others) don't have to worry about further margin calls and Melvin only has to spend a couple pennies worth to buy up the OTM PUTs from Citadel.
+
+[![r/Superstonk - [Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.](https://preview.redd.it/frkxgab0hhd71.png?width=1021&format=png&auto=webp&s=66e8245539f9216e60471aed2cd9e8d58aa212ec)](https://preview.redd.it/frkxgab0hhd71.png?width=1021&format=png&auto=webp&s=66e8245539f9216e60471aed2cd9e8d58aa212ec)
+
+Melvin Repositioning of Short Position
+
+And given their testimony, Melvin isn't technically lying when they say that they've "closed out of their position" and that they "repositioned the portfolio". Through a swap of risk and then opening the OTM PUTs, Melvin has closed out of their short position and then repositioned their short position exposure. They're still technically short the stock through the OTM PUTs of Citadel's bags.
+
+We see potential evidence of this swap because during the January runup, the number of PUT OI skyrocketed by roughly the amount of ITM CALLs that were traded. In an overconfidence play, Melvin most likely opened up these PUTs assuming retail would sell and that the price of $GME would decay to $0.50 by July 16th, giving them back their losses.
+
+What is really interesting is that in 13F filings, despite there being roughly 1.3 million PUTs on March 31st, 2021, only 0.3 million were accounted for: [13F discrepancies from /u/broccaaa](https://www.reddit.com/r/Superstonk/comments/nev6po/all_new_13f_filings_data_visualised_for_all_major/?utm_medium=android_app&utm_source=share).
+
+About 1 million PUTs are unreported.
+
+Which then leads to the 13F of Melvin. Their 13F specifically states that they are redacting some information from the filing. They are probably hiding their PUT exposure. [Melvin's 13F is hiding PUTs from /u/AutoDrafter2020](https://www.reddit.com/r/Superstonk/comments/ner3uc/melvin_capital_13f_filing_is_inaccurate_and_they/)
+
+It's an assumption. But, when asking myself, "Where the hell are those PUTs?", "What is Melvin hiding?" and then thinking about the mechanics behind the swap of risk it makes sense to me that Melvin is holding a massive amount of these OTM PUTs.
+
+Especially given Melvin's strange gains and losses over the past six months.
+
+[![r/Superstonk - [Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.](https://preview.redd.it/t3oytoo1hhd71.png?width=768&format=png&auto=webp&s=9f857d4e9a8bef2723885ee9785b79dd82c1077b)](https://preview.redd.it/t3oytoo1hhd71.png?width=768&format=png&auto=webp&s=9f857d4e9a8bef2723885ee9785b79dd82c1077b)
+
+OTM PUTs Part 1. CALL and PUT OI chart per /u/broccaaa
+
+For the month of February, Melvin posted gains of ~22%. And then, despite the market performing quite well since then, Melvin amazingly lost it all of those gains and is almost back to their original 53% losses.
+
+Putting it all together, it makes sense as to how they'd be posting these weird ass gains and then losses.
+
+1.  Melvin locks in a loss of ~53% in January by closing out their positions and transferring the risk to Citadel the Market Maker.
+
+2.  Melvin buys up all of the OTM PUTs in an overconfidence play thinking retail will sell.
+
+3.  Melvin posts gains of 22% as their OTM PUTs slowly become in the money and $GME drops back to $40 in February.
+
+4.  Melvin's gains of 22% are wiped out as $GME has its rally back up and those PUTs expire worthless on March 19th, April 16th, and July 16th.
+
+5.  As all of the OTM PUTs expire worthless, Melvin goes back to their original losses of 53%. Remember - if they had not closed out their position and done the risk swap - they should be posting a much higher loss for $GME at $180 rather than a 53% loss when $GME was $96.73.
+
+[![r/Superstonk - [Speculative] Piecing together the ITM CALLs and the OTM PUTs. Melvin was margin called on January 25th, so they swapped risk to Citadel. Melvin bought up those OTM PUTs from Citadel hoping to profit off of their original shorts, but the expirations of the OTM PUTs do nothing.](https://preview.redd.it/flktfg73hhd71.png?width=788&format=png&auto=webp&s=641e139fbb9d594e5b0d6abeb174e56889f59c27)](https://preview.redd.it/flktfg73hhd71.png?width=788&format=png&auto=webp&s=641e139fbb9d594e5b0d6abeb174e56889f59c27)
+
+OTM PUTs Part 2
+
+4\. Conclusion (In Bullet Form)
+
+Again this is all speculative. But it would answer a loooot of questions. Please poke holes and discuss further:
+
+-   Melvin was probably margin called in January and required $2.75 billion to not be liquidated.
+
+-   Melvin was the most overextended out of Melvin, Point72, and Citadel the Hedgefund. Since Melvin was already getting margin called, they needed to swap the risk from Melvin because the retail buy pressure wasn't letting up.
+
+-   Point72 posted 15% losses in January, they more than likely hold a $GME short position and their margin call price is around $350, hence the price drops from $350 and shutdown of buys in January.
+
+-   Melvin was removed from the table and closed out of their short position by using ITM CALLs from Citadel. They had to do this method due to illiquidity in the market. This gets rid of the most overextended SHF but creates a new bag holder (Citadel MM).
+
+-   There was too much of a discrepancy in ITM CALL activity and the number of FTDs in January for it to be an FTD reset play. Absolutely no reason to perform those buy-writes if there weren't enough FTDs to justify it. There were about 110 million shares worth of deep ITM CALLs traded, and only 3 million FTDs. Rather, it must have been a risk swapping play.
+
+-   By covering, Melvin can now report a different short position per their balance sheet and the SI% drops from 226% to 30%.
+
+-   Since Citadel the market maker is bag holding, they can (presumably) can-kick the short position and keep it from appearing on SI%. As a Market Maker, they can borrow shares without first locating them for the sake of liquidity.
+
+-   Melvin ate the 53% ($12.5 billion loss) when swapping risk. By doing this, they aren't forced to cover and thus Point72 and Citadel are also saved from the ~$96.73 Melvin margin call price.
+
+-   Melvin was allowed to potentially profit off of their original short position by buying up OTM PUTs from Citadel which were fed by the short position that Citadel opened to satisfy the ITM CALLs.
+
+-   As $GME dropped back to $40, Melvin posted a gain of 22% in February because of the OTM PUTs becoming in the money.
+
+-   As these OTM PUTs expire, nothing happens beyond Melvin losing out on profits and Citadel continuing to hold the bag.
+
+-   Melvin doesn't need to open up more OTM PUTs if the MOASS is looking more and more likely of occurring. They've escaped with 53% losses, just let it go.
+
+-   If Melvin didn't close their shorts, they should have much more than 53% losses now that $GME is trading at $180+. If they did perform the swap of risk, then it explains why they gained 22% and are now back to about 53% losses despite $GME being double in price of when they closed out.
+
+And to be clear:
+
+This does not mean that there will be no squeeze. I am showing you that even if Melvin closed and ate the 53% loss, Citadel and Point72 are still short and Citadel is most likely holding the bag.
+
+As long as short positions are opened, then they must be covered once the dominos start to fall.

Confirmation-Bias-and-Discussion/All-the-Pieces-Theory-by-swede-child-of-mine/2021-04-08-All-the-Pieces-Part-I.md

@@ -0,0 +1,168 @@
+Theory: ALL THE PIECES, pt. 1 -- The Anatomy of the Crime of Citadel
+===================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/swede_child_of_mine](https://www.reddit.com/user/swede_child_of_mine/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/mn0q9q/theory_all_the_pieces_pt_1_the_anatomy_of_the/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+*"Behind every great fortune there is a crime" -- Balzac*
+
+This post is the collective narrative behind the plays on GME by large institutions. This will be a multi-part DD post gathered from excellent insights on this sub. As there have been no open confessions of these activities by the perpetrators (a la Bernie Madoff), or books that have yet been written, this will only exist as a theory with pieces of evidence to support where we can. It is designed to be high-level, approachable, supported by available sources where possible, and represent key players and interests as it relates to the events surrounding GME. It is incomplete. Where information cannot be confirmed, it will be marked as rumor or speculation and should be treated as such, but it should not be a rabbit-hole. It will be ongoing and require updating as well as contributions from you, outlined below:
+
+-   [] - request for link to relevant DD (DD posts or legitimate sources)
+
+-   /e?/ - expert insight requested (e.g. legal review -- I'll try to call out specific users that are known for their specialties on this sub)
+
+-   /R/ - further research requested
+
+(Setting expectations for the veteran readers of [r/GME](https://www.reddit.com/r/GME/) and [r/SuperStonk](https://www.reddit.com/r/SuperStonk/): you will already be familiar with many of the terms, events, and points described in this first post. However, even if it is already familiar to you, I hope this post will still be a valuable summary and an easy introduction for anyone who wants to know more about the stock. Please feel free to contribute sources you might see are missing)
+
+* * * * *
+
+Part 1: The Crime of Citadel
+
+$GME
+
+The current price of GameStop stock is artificial. In simpler terms, the price of $GME is not determined by normal market dynamics - supply and demand. This is because Citadel and others have been illegally manufacturing fraudulent shares of GME, abusing their special designation as Market Maker to profit their firms. The more straightforward term for their activity is *share counterfeiting*. Citadel & others have been counterfeiting shares of GME, profiting from non-existent shares, dumping fraudulent stock to lower the price, and abusing system lapses to hide their activities. Their scheme that has grown wildly out of hand and now threatens to wipe out many more firms in the market due to their risky behaviors.
+
+An overview of the mechanics of this scheme:
+
+FTD (for Failure To Deliver) -- a key term to understand
+
+1\.  FTD is a standardized term for a delay in delivering a share that's been purchased. *In the context of Citadel, an FTD represents a counterfeit share.*
+
+-   In the US market, a share can be sold regardless of whether or not it actually exists. The financial system accepts the transaction at face value so that the buyer can continue trading.
+
+-   The delay in delivering a share is meant to be temporary...
+
+-   ...but for Citadel's case, they never had the share they sold; they abused their position to "sell" something they didn't have.
+
+-   Outright share counterfeiting is highly illegal, and one of the financial crimes that [carries prison sentences](https://www.criminaldefenselawyer.com/crime-penalties/federal/Securities-Fraud.htm)
+
+-   For Citadel to perpetrate this crime, they needed to hide it among their transactions and appear legitimate (FTD's can be legitimate, and enforcement is subjective "[*...will depend on the facts and circumstances of the particular activity*](https://www.sec.gov/divisions/marketreg/mrfaqregsho1204.htm)")
+
+Citadel's Scheme, Part 1: Create a Share, Legitimately
+
+1\.  [Citadel](https://en.wikipedia.org/wiki/Citadel_LLC)'s activities are recognized as a ["bona-fide" Market Maker](https://www.mmlawus.com/newsitem/alerts/larry-bergmann-addresses-regulation-sho-and-bona-fide-market-making/), an industry designation which allows them special authorities and responsibilities.
+
+-   One of their special authorities is to "create" shares in the marketplace as part of their role of providing liquidity. ("Liquidity" is finance speak for -- "keeping the shelves full with the stocks people want")
+
+-   Citadel is allowed to execute transactions without owning the share -- i.e. Market Makers can temporarily "create" a share from nothing -- with the understanding that it is illegal to manufacture shares for their own profit.
+
+-   This "temporarily created share" is recorded as a "short": designed to be sold to the marketplace then bought back within a brief period of time, to prevent an enduring non-existent share in the marketplace.
+
+-   "Shorting" is also a common practice of borrowing a share from someone else's account. The borrowed share is sold into the marketplace, and ideally bought back at a lower price and returned to the account (many financial companies do this legally, Citadel included).
+
+-   Both traditional shorting and "bona-fide" market maker shorting creates a "legitimate" non-existent share -- temporarily. Again, the non-existent share is meant to be a placeholder until a real share is delivered.
+
+-   If the share is out in the marketplace long enough without being repurchased, the share is flagged as an FTD -- failure to deliver -- since there was no *actual* share delivered. If it is never reconciled, it becomes counterfeit.
+
+Citadel's Scheme, Part 2: It's Only Illegal If You Get Caught
+
+1\.  The process of determining an FTD is technically complex. There are regulations for the amount of days which need to pass [before a share is declared an FTD](https://www.sec.gov/investor/pubs/regsho.htm).
+
+-   Additionally, *AFTER* a share is delcared an FTD, there are additional times allowed for counterfeit shares to to be rebought, with even more time allotted for Market Makers to do so.
+
+-   But once the allotted time passes and the delivery is still failed, the party at fault is subject to enforcement measures.
+
+-   The enforcement measures are weak -- [small fines levvied far after the violation](https://financefeeds.com/citadel-securities-fined-275k-reporting-violations-700k-fine-2020/) (generally for less than the profit made from the activities)...
+
+-   ...and it is difficult to track. Individual shares may trade dozens or hundreds of times per day, and there is no way to follow the path -- or origin -- of each individual share.
+
+-   So the "counterfeit" share is logged against the overall pool of shares, not knowing which particular one is non-existent. But the contracts for the sale remains on the books of the parties involved.
+
+-   And while enforcement agencies are not interested in small volumes of counterfeit shares or low cost shares, Citadel has been manufacturing millions of fraduluent shares at a price of hundreds of dollars each, getting away with it under the guise of "bona-fide" Market Maker activities that have yet to be settled.
+
+-   However, any company with a "short" position on their books will retain the debt of the counterfeit share for the duration it is on the market...
+
+Citadel's Scheme, Part 3: Take the Money...
+
+1\.  Once the counterfeit share is sold and becomes an FTD, there are several options for addressing the FTD.
+
+-   Buying a share in the marketplace is the primary way of closing out an FTD. This also closes out the "short" position that is on the seller's books.
+
+-   A second way to close an FTD is when the price of the stock goes to $0, and the stock gets de-listed. This voids *all* of that company's stock, including the fraudulent shares. [] The FTD problem simply goes away with all of the other stock.
+
+-   For a party engaged in the criminal act of counterfeiting shares, their main interest is in avoiding consequences of FTDs - not getting caught. They intend to sell shares they never have and never pay for them.
+
+-   Paying for shares from the marketplace is undesirable to Citadel, not only because it increases costs ("the cost of legitimacy"), but also because the price of shares could go up and make the transaction a loss.
+
+-   Flooding the market with shares also has the added effect of dropping the price of the stock, because the market is overwhelmed with supply...
+
+-   ...and if the price goes so low that the stock gets de-listed, the "debt" of the shares on the seller's books becomes a writeoff, which they will enjoy a tax benefit from [].
+
+-   So bankrupting copmanies is the most desirable outcome from share counterfeiters. The targeted company is an unfortunate casualty, chosen for its ability to be shorted into bankruptcy.
+
+-   This is the first part of Citadel's scheme: target a company, flood the market with counterfeit shares, drop the price of the stock to $0, walk away with the profits from the counterfeit shares, and enjoy the tax writeoff.
+
+-   Note: Short positions are not publicly disclosed, and a company's banruptcy closes all positions, so tracing these activities to Citadel is extremely difficult. These activites can happen entirely behind closed doors and leave little evidence in the public marketplace. That is what this sub has been working with: trace evidence of counterfeiting activities in the marketplace.
+
+Citadel's Scheme, Part 4: ...and Run
+
+1\.  Profitably closing an FTD (either via bankrupcy or repurchase) requires one thing: the price of the target stock to go down.
+
+-   In this case, the $GME stock price went up during their scheme.
+
+-   This caused Citadel to find an alternative to closing the FTDs. So perhaps as a temporary stop-gap, or perhaps as a last resort, Citadel chose to perpetuate FTDs without closing them - they would keep the FTDs ongoing as long as they could, never getting caught, until circumstances let them exit their position. Hiding until they escape.
+
+-   Since FTDs are reported by *time*, Citadel figured they could reset the "timer" to avoid getting caught (very similar to floating credit card payments). They could do this two ways:
+
+-   First, they could short the traditional way -- borrow or acquire a batch of the shares from an exchange or *dark pool* (an off-exchange trading room), and then turn around and close their FTDs. Those new shorts would later become new FTDs, but it would give them a few days.
+
+-   Second, they could counterfeit additional shares. While it is uncertain if it was possible for Citadel to use counterfeit shares to close out FTDs [], their releasing more counterfeited shares into the marketplace let them easily borrow or buy the shares back, then turn around and close out the FTDs. Again, shorting gives a few more days until thes counterfeit shares became FTDs.
+
+-   Citadel could reset FTDs like this continuously, never running into the enforcement limits without being able to reset the FTD timer again.
+
+-   This would also keep the marketplace full of shares - normally a desirable outcome. But in the interest of their counterfeiting scheme, keeping an abundant supply of shares in the marketplace also keeps the stock price low, the availability of additional borrows high, and the interest on the borrowed shares low.
+
+-   And if Citadel was worried about availability, they could also re-borrow the share they just sold (i.e. borrow from A, sell to C, then borrow the same share from C -- a process known as "rehypothecation") -- a legal practice.
+
+Citadel's Scheme, Part 5: But at what cost?
+
+1\.  The cost of resetting the FTD timetable -- "kicking it down the road" -- is twofold:
+
+-   First, there is a daily interest paid on every shorted share Citadel has. The interest rate is decided by the lending organization, and is related to the price and availability of the share to be borrowed. []
+
+-   Second, for every short Citadel left open, the debt of that share remains on their books. As Citadel shorts more shares and as the price of the shares went up, their overall debt increases. If the debt gets too large, Citadel would potentially be "margin called" -- their debtors would force Citadel to pay up. [courtesy: [u/atobitt](https://www.reddit.com/u/atobitt/) - [Image of Citadel's 2020 "securities sold but not yet purchased"](https://preview.redd.it/83uepbgudqm61.png?width=829&format=png&auto=webp&s=7c8b1f1475be0cf61d55f87e29fd282c45833b3c)]
+
+-   It is unknown when or how large their debt must be before Citadel is margin called.[]
+
+-   Additionally, due to Citadel's activities it is difficult to know what a *legitimate* short term debt is on their books, from their legitimate activities, or what a fraudulent debt is from their counterfeiting activities.
+
+-   But by using a legitimate function to hide their scheme, they can achieve the illegal results -- selling shares which they don't have and never intend to deliver.
+
+-   Citadel's activities also pose an extreme cost to the system. Fraudulent shares circulating in the marketplace means investors may become unsure that their shares are legitimate. Or investors may become unsure that the price of the stock is a reflection of legitimate supply and demand, but is instead artificial -- lowered because of a surplus of fake shares.
+
+* * * * *
+
+Addtional reading: [u/atobitt](https://www.reddit.com/u/atobitt/) 's - ["Citadel has no clothes"](https://www.reddit.com/r/GME/comments/m4c0p4/citadel_has_no_clothes/)
+
+[u/canhazreddit](https://www.reddit.com/u/canhazreddit/) 's - ["It's painfully obvious that when GME has a ton of FTDS, they're immediately reversing them with their hedgefuckery."](https://www.reddit.com/r/GME/comments/mijfq9/its_painfully_obvious_that_when_gme_has_a_ton_of/)
+
+* * * * *
+
+TL; DR & Summary: Citadel has been perpetrating a crime -- illegally counterfeiting shares into the marketplace in order to profit. They are selling shares they don't have and never intended to deliver. Citadel has been using their designation as a Market Maker to cover their activities as well as continue to counterfeit shares. This poses an increasing risk to their own business and moreso the overall market.
+
+Edit: [u/Vipper_of_Vip99](https://www.reddit.com/u/Vipper_of_Vip99/) smartly recommended updating the bullets to numbers.
+
+* * * * *
+
+Final note: here is an excerpt on Bernie Madoff from the [Madoff Investment Scandal wiki](https://en.wikipedia.org/wiki/Madoff_investment_scandal):
+
+> At one point, Madoff Securities was the largest buying-and-selling "market maker" at the NASDAQ.
+
+>
+
+> In 1992, The Wall Street Journal described him:
+
+>
+
+> *... one of the masters of the off-exchange "third market" and the bane of the New York Stock Exchange. He has built a highly profitable securities firm, Bernard L. Madoff Investment Securities, which siphons a huge volume of stock trades away from the Big Board. The $740 million average daily volume of trades executed electronically by the Madoff firm off the exchange equals 9% of the New York exchange's. Mr. Madoff's firm can execute trades so quickly and cheaply that it actually pays other brokerage firms a penny a share to execute their customers' orders, --- Randall Smith, Wall Street Journal*
+
+And here is an excerpt from [Citadel's wiki](https://en.wikipedia.org/wiki/Citadel_LLC#Citadel_Securities):
+
+> Citadel Securities automation has resulted in more reliable trading at lower costs and with tighter spreads. [...] Citadel Securities is the largest market maker in options in the U.S., executing about 25 percent of U.S.-listed equity options volume. According to the Wall Street Journal, about one-third of stock orders from individual investors is completed through Citadel, which accounts for about 10% of the firm's revenue. Citadel Securities also executes about 13 percent of U.S. consolidated volume in equities and 28 percent of U.S. retail equities volume.

Confirmation-Bias-and-Discussion/All-the-Pieces-Theory-by-swede-child-of-mine/2021-04-16-All-the-Pieces-Part-II.md

@@ -0,0 +1,208 @@
+Theory: ALL THE PIECES, pt. 2 -- The Deep End of the Pool
+========================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/swede_child_of_mine](https://www.reddit.com/user/swede_child_of_mine/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/ms9z0n/theory_all_the_pieces_pt_2_the_deep_end_of_the/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+[*There was Jimmy, and Tommy, and Me. - Goodfellas*](https://www.youtube.com/watch?v=caCA0rUMR6U)
+
+This post is the collective narrative behind the plays on GME by large institutions. This will be a multi-part DD post gathered from excellent insights on this sub. As there have been no open confessions of these activities by the perpetrators (a la Bernie Madoff), or books that have yet been written, this will only exist as a theory with pieces of evidence to support where we can. It is designed to be high-level, approachable, supported by available sources where possible, and represent key players and interests as it relates to large players movements in GME. It is incomplete. Where information cannot be confirmed, it will be marked as rumor or speculation and should be treated as such, but it should not be a rabbit-hole. It will be ongoing and require updating as well as contributions from you, outlined below:
+
+-   [] - link to relevant DD requested (DD posts or legitimate sources)
+
+-   \ /e?/ - expert insight requested (e.g. legal review -- I'll try to call out specific users that are known for their specialties on this sub)
+
+-   \ /R/ - further research requested
+
+(Setting expectations for the veteran readers of [r/GME](https://www.reddit.com/r/GME/) and [r/SuperStonk](https://www.reddit.com/r/SuperStonk/): you will already be familiar with many of the terms, events, and points described in this first post. However, even if it is already familiar to you, I hope this post will still be a valuable summary and an easy introduction for anyone who wants to know more about the stock. Please feel free to contribute sources you might see are missing)
+
+* * * * *
+
+Part 2: The Deep End of the Pool
+
+The price of $GME is artificial. The [previous post](https://www.reddit.com/r/Superstonk/comments/mn0q9q/theory_all_the_pieces_pt_1_the_anatomy_of_the/) covered how Citadel was perpetrating a crime, illegally counterfeiting shares to change the price of GME for profit. It is not alone in this crime. Multiple organizations are coordinating the same illegal activities in a larger scheme. Their illegal enterprise engages in share counterfeiting, price fixing, and conspiracy. Some of their crimes leave public evidence, but some of the activity takes place discreetly in *Dark Pools* - off exchange rooms where trades happen with fewer regulations and less visibility. The end result is that each organization abuses their position to profit in an illegal enterprise which jeopardizes the larger market.
+
+Key Terms
+
+1.  Market Maker (or "MM") -- a special role in a stock exchanges around the world. An MM's primary role is to provide liquidity, or "to make sure there are shares available to buy if people want them" as well as "make sure there is a buyer if people want to sell." Liquidity makes for easy buying and selling.
+
+-   Liquidity is also important because some companies want their stock price to be related to their company performance (a.k.a. - valuation), and not related to whether or not their shares are available (a.k.a. - scarcity). [More here](https://www.investopedia.com/terms/p/pricediscovery.asp)
+
+-   Since a Market Maker has control over the availability of shares -- which controls the price -- a Market Maker is required to remain "neutral" on its positions. They cannot put pressure on a stock on either the buy side or sell side. If they create a position on one side to meet demand, they must "hedge" on the other side by creating or owning an opposing position. This "neutralizes" their effects on the stock price, but still creates the liquidity.
+
+-   The designers of this framework presumed an honest Market Maker.
+
+Part 1: Recap -- The Shallow End
+
+1.  Citadel is the largest Market Maker for the NYSE. But Citadel has been using its powers as Market Maker to illegally counterfeit shares for profit.
+
+-   A Market Maker has the authority to temporarily create shares. Citadel has been abusing this to create *perpetual temporary shares* (or "naked shorts") by exploiting a reporting lapse in the system, so the *perpetual temporary shorts* aren't recognized as fraudulent.
+
+-   This is called a *naked short*, because there isn't a share "there", but the system shows it is and the system acts like it is.
+
+-   Citadel naked shorts both for profit and for tactical reasons. Tactically, when Citadel introduces more (counterfeit) shares into a limited supply, they can lower the price of the targeted stock by dilution...
+
+-   ...and if a stock becomes low enough, it gets de-listed. De-listing typically bankrupts the company and circumvents any consequences for the naked shorts. But the counterfeiter still profits -- at the expense of the company they bankrupted.
+
+-   However, with $GME, Citadel found itself unable to counterfeit enough shares to de-list the stock. Failure meant it needs to prevent the large amount of naked shorts from "Failing to Deliver" (or FTD) -- have their status realized as counterfeit by the regulators.
+
+-   Citadel needs to constantly close out and re-open ("refresh") the naked shorts it has flooded the market with, perpetuating the temporary shares.
+
+-   The cost to Citadel is twofold: daily interest on the legitimate shorts, and exposure to being *margin called* -- forced to pay for the fraudulent shares -- should the price of GME go high enough. Citadel is extremely motivated to prevent this from happening.
+
+Part 2: Marco
+
+1.  Citadel needs to abide by its responsibilities as a Market Maker when it creates a share; it needs to remain "neutral" on its MM positions.
+
+-   Creating a share is a "net short" position for a MM, meaning it creates downward pressure on the stock price. Even if they rent out the share for someone else to short it will still be a *net short* position.
+
+-   For a created share to be a sanctioned MM action, it must paired it with another, opposite position to make the entire action neutral.
+
+-   A MM can offset a short position by adding a "long" position -- which creates upward pressure on the stock price. A long position mostly means buying a share, buying call options, or selling put options.
+
+-   The long position plus the short position, mathematically balanced, equals a neutral position.
+
+-   An MM that illegally counterfeits shares is looking to minimize the costs of their neutral position. They will adopt the most cost-effective position possible.
+
+-   The most likely cost-effective counter to a "net short" position is to sell puts.
+
+-   And while Citadel is [no stranger to selling to itself](https://www.reddit.com/r/GME/comments/lnctgx/citadel_is_an_evil_corp_look_at_its_track_records/) (which is called a "wash sale"), the practice of being both the buyer and the seller attracts a regulator's attention. Which, is something Citadel likely doesn't want happening for its illegal shorting scheme. So it needs to sell the puts to an outside party.
+
+-   *This means Citadel needs another organization to collude with.*
+
+Part 3: Polo
+
+1.  If Citadel needs an accomplice, an easy target is a company that is already relying on Citadel in one way or another.
+
+-   Melvin lists Citadel as an investor[], and most likely depends on Citadel to be their Market Maker for securities orders.
+
+-   Melvin also embraces an aggressive shorting strategy[], which requires an abundance of shorts to execute.
+
+-   So the arrangement between Citadel and Melvin is thus:
+
+-   Citadel creates naked shares for Melvin to borrow or buy. Now Citadel is a "negative" position and they need to be a neutral position. Plus they are taking on risk by fabricating counterfeit shares...
+
+-   ...so Citadel writes ITM puts, and Melvin buys them - making Citadel net neutral. Pretend the premium on the puts is $5.
+
+-   Melvin immediately closes the position on the puts (a net $0 activity, and stems the risks to either party), and the transaction is complete.
+
+-   Melvin now has shorts to use, and Citadel nets $5 and remains neutral.
+
+-   The puts are merely a formality: they keep Citadel neutral and are a way to pay for the naked shorts.
+
+-   This is called a "married put" -- renting out a naked short tied to a put, for the price of the premium on the put.
+
+-   Afterwards, Melvin sells the naked shorts, profiting from the sale and also lowers the price of the stock closer to bankruptcy.
+
+-   And if things go badly for them, Citadel can compel Melvin to close out their shorts, or even intervene and close out the position themselves, while leveraging their powers as Market Maker.
+
+-   (*However, closing out seems unnecessary, doesn't it? Since they can always change a rising stock price with additional naked shorts...*)
+
+-   And if they want, Melvin and Citadel have additional means of concealing their activities:
+
+-   as part of the married put transaction, Melvin can turn and sell Citadel "out of the money" (OTM -- meaning, will expire worthless) calls as part of the transaction to make it look like standard activity.
+
+-   The combination of a put plus a call plus a share is called [a reverse conversion.](https://www.deepcapture.com/wp-content/uploads/2007.10.09-J-Welborn-Married-Puts-and-Reverse-Conversions.pdf)
+
+-   It's unclear if either Citadel or Melvin initiated the scheme. Citadel needs constant demand for the counterfeit shares, while Melvin needed abundant shorts - it's rumored that Melvin is a "[hitman hedge fund](https://www.reddit.com/r/WallStreetbetsELITE/comments/lw0cky/either_melvin_lied_about_closing_position_ms_in/)".
+
+-   But both parties needed someone who is unconcerned with the *actual* status of the shares being shorted. So it's clear both are aware of the illegal nature of the shares they are leveraging.
+
+This sub has noticed records of strange banks of calls and puts, which represent probable evidence for the scheme described here.
+
+* * * * *
+
+Evidence [1](https://www.reddit.com/r/GME/comments/m7xipv/whale_watching_the_sweeping_seas_318/) [2](https://www.reddit.com/r/GME/comments/lsnlte/ok_so_random_theory/) [3](https://www.reddit.com/r/GME/comments/mhv22h/the_si_is_fake_i_found_44000000_million_shorts/)
+
+* * * * *
+
+Part 4: A Shiver (The Deacons)
+
+1.  However, in the highly competitive world of corporate finance, successful strategies like Melvin's and Citadel's are tracked, followed, copied, and mirrored.
+
+-   Naked shorting has been [around for awhile](https://www.reddit.com/r/GME/comments/mexlpn/accidentally_released_and_incredibly_embarrassing/), and the payouts are obvious.
+
+-   Other hedge funds or investment banks likely copied Melvin's actions on the same targeted companies, [aiming to profit from their actions without needing to research the strategy too much](https://www.reddit.com/r/GME/comments/mcwu5m/mystery_of_the_negative_beta_solved_hfs_are/)...
+
+-   ...which makes it likely that Citadel was also *fabricating shares for other hedge funds.*
+
+-   So it isn't only Citadel -- there are others involved in this crime.
+
+-   Additional players could also profit, and [assist](https://www.reddit.com/r/GME/comments/m9bfp0/naked_short_selling_the_truth_is_much_worse_than/) either legally or illegally.
+
+-   Susquehanna SIG -- a major Market Maker for options, had [substantial interest](https://www.reddit.com/r/Superstonk/comments/mlf82b/the_missing_citadels_frenemies_pfof_michael/) in this scheme. Their strategic puts could apply price pressure to the distressed companies and allow SIG to profit from the options placements -- and from price manipulation.
+
+-   Other investment banks and options sellers have also joined in. Their profits could be legal, approved market activity of buying puts or selling shorts. Or the profits could be illegal, resulting from naked shorting and manipulating the price downward.
+
+-   A partial list of large companies that have taken positions against GME include: [Melvin Capital, Citadel Advisors, SIG, UBS Group AG, Group One Trading, Citigroup, Wolverine Capital, and Maplelane Capital](https://www.reddit.com/r/wallstreetbets/comments/lw0g1g/the_industry_players_again_gme/).
+
+-   Coordinating their efforts can achieve a multiplier on their returns. By adopting the same positions as the others, each company assumed a smaller portion of exposure while enjoying the multiplied pressure from their group efforts.
+
+-   The risk of loss is still real, but it is diminished, and marginal compared to the collective assets and rewards.
+
+Part 5: The Deep
+
+1.  As the conspirators coordinated their attacks, they needed a way to operate without gaining public attention.
+
+-   They were used to operating within the parameters of the enforcement agencies (SEC, FINRA)...
+
+-   ...and their activities would be recorded, regardless, on the public register.[]
+
+-   But off-exchange trading venues -- a.k.a. Dark Pools -- would be perfect for their needs.
+
+-   Dark Pools have delayed reporting. The transactions themselves are allowed more time to be recorded (10s -- an eternity in trading time)...
+
+-   ...and have the benefit of not being publicly reported by FINRA until [*WEEKS*](https://www.sec.gov/divisions/marketreg/form-ats-n-filings.htm) after the transactions had taken place.
+
+-   And Dark Pools intentionally keep transactions as anonymous as possible. Again, all transactions would be received by the register and would include the parties involved. But bids and asks that *didn't* end up transacting are never disclosed -- masking the real positions and intentions.
+
+-   But the most valuable part for the conspirators: unlike public exchanges, transactions that take place in Dark Pools do not affect the official national price -- the NBBO.
+
+-   Meaning, they could execute the trades that *negatively* affected the price in the public exchanges...
+
+-   ...and then execute the trades that *positively* affected the price in Dark Pools.
+
+-   So the price would only go down from their activities.
+
+-   And naturally, they could do so in just such a way that they could achieve their goals without attracting regulatory or public attention. (They were extremely familiar with toeing that line).
+
+-   While it is unclear if they *actively discussed* this scheme or coordinated each of their roles (institutional relationships can be tentative, or circumstantial - best described as "frenemies")...
+
+-   ...the transactions would act as tacit collaboration between the firms. They would be able to figure out who else was working with them, and what their position was.
+
+-   Collectively, they are very aware of their mutual positions, even without having explicitly discussed them. The volume, type, location, time, and other positional details would most likely give away what and who was transacting...
+
+-   ...while acting as a signal for others to respond to. Showing an opportunity to be siezed.
+
+Again, the contributors of these subs have noticed high levels of corresponding transactions of $GME occuring in Dark Pools.
+
+* * * * *
+
+Evidence [1](https://www.reddit.com/r/GME/comments/mg5aui/hfs_traded_over_302_million_shares_of_gme_in_otc/) [2](https://www.reddit.com/r/Wallstreetbetsnew/comments/llbz1m/mindboggling_dark_pool_network_may_have_traded/) [3](https://www.reddit.com/r/wallstreetbets/comments/mnm8h0/gme_last_30_days_of_dark_pool_options_order_flow/)
+
+* * * * *
+
+Further reading on the overview: [u/boneywankenobi](https://www.reddit.com/u/boneywankenobi/) 's [deeper dive](https://www.reddit.com/r/GME/comments/mjzx9w/full_analysis_of_current_gme_si_proof_from_the/)
+
+Further reading on married puts: [u/broccaaa](https://www.reddit.com/u/broccaaa/) 's fantastic research [here](https://www.reddit.com/r/Wallstreetbetsnew/comments/mgof7q/the_naked_shorting_scam_revealed_lending_of/) and [here](https://www.reddit.com/r/GME/comments/mh6lnz/the_naked_shorting_scam_update_selling_nude_like/)
+
+Further reading on Dark Pools: [u/NoseBurner](https://www.reddit.com/u/NoseBurner/) 's [excellent recap](https://www.reddit.com/r/Superstonk/comments/mpvm3a/into_the_heart_of_darkness_darkpools_and_fud/), which refers to [u/umu68](https://www.reddit.com/u/umu68/) 's [prolific work](https://www.reddit.com/r/Superstonk/comments/movevb/dance_of_darkness_the_sec_and_dark_pools/)
+
+* * * * *
+
+TL;DR and Summary -- The speed, sophistication, and savvy of the firms illegally affecting the price of $GME and other stocks make it easy for them to collaborate. Each are playing their part -- naked shorting, writing options, providing legitimate cover, transacting in Dark Pools for effect -- according to their specialization. They are extremely financially incentivized to do so. Their familiarity with the regulations means they feel they are able to engage and even expand their scheme without legal consequences. And the tools they have at their disposal give them the means to execute their fraudulent enterprise at will. Some of the financial world's largest firms are complicit or are actively participating. They have assumed the public will not take notice, because the public had not taken notice. This line of reasoning is typically referred to as "Black Swan."
+
+* * * * *
+
+Calls to verify /e?/: [u/the_captain_slog](https://www.reddit.com/u/the_captain_slog/), [u/NoseBurner](https://www.reddit.com/u/NoseBurner/), [u/broccaaa](https://www.reddit.com/u/broccaaa/), [u/boneywankenobi](https://www.reddit.com/u/boneywankenobi/)
+
+Credit roll (in order of appearance): [u/krisoijn](https://www.reddit.com/u/krisoijn/), [u/G_KG](https://www.reddit.com/u/G_KG/), [u/ElevationAV](https://www.reddit.com/u/ElevationAV/), [u/dejf2](https://www.reddit.com/u/dejf2/), [u/DigitalSoldier1776](https://www.reddit.com/u/DigitalSoldier1776/), [u/bobfern37](https://www.reddit.com/u/bobfern37/), [u/animasoul](https://www.reddit.com/u/animasoul/), [u/VaseaPost](https://www.reddit.com/u/VaseaPost/), [u/pinkcatsonacid](https://www.reddit.com/u/pinkcatsonacid/), [u/skifunkster](https://www.reddit.com/u/skifunkster/), [u/bimnett](https://www.reddit.com/u/bimnett/), [u/StonkyFarts](https://www.reddit.com/u/StonkyFarts/), [u/DIY-Dude-123](https://www.reddit.com/u/DIY-Dude-123/)
+
+Special shout out to [u/GMEisLightandLove](https://www.reddit.com/u/GMEisLightandLove/), [u/beowulf77](https://www.reddit.com/u/beowulf77/)
+
+Final note - some relevant news this week: <https://www.reddit.com/r/news/comments/mqql1f/ap_source_ponzi_schemer_bernie_madoff_has_died_in/>

Confirmation-Bias-and-Discussion/Married-Put-Forensic-Analysis-by-AlexanderHood/2021-04-18-Calculating-Potential-Short-Interst-from-Married-Put-Remnants-and-Share-Rehypothecation.md

@@ -0,0 +1,121 @@
+Calculating potential Short Interest from Married Put remnants and Share Rehypothecation
+
+========================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/AlexanderHood](https://www.reddit.com/user/AlexanderHood/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/mtnohj/calculating_potential_short_interest_from_married/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+There have been a lot of posts floating around the subs postulating the real short interest.
+
+I wanted to take a stab at it using what we know for sure about the mechanism for how the FTD's are hidden, the latest put option open interest and why the new DTC rule about double-borrow shares was implemented.
+
+Assumptions
+
+1\.  Citadel and friends are using the Married Put method of hiding FTD's.
+
+2\.  Any Put for a strike of $20 or less for the rest of the year is an irrational option play no sane person would make.
+
+3\.  These apprently irrational puts are in fact part of a rational mechanism for hiding a FTD.
+
+4\.  The current outstanding number of irrational puts is correlated to the number of FTD's resulting from naked shorts.
+
+5\.  Basically all available shares to legally borrow have been legally borrowed.
+
+Shares in cash accounts should not be made available to borrow. (Note the use of the S-word) With much of retail on RH or other brokers who may not be able to resist the temptation to make free money, I'm going to assume the borrow is 100%. (See disc below. If you disagree, swap in your own number and recalculate.) Due to re-hypothecation where a share sold short can be borrowed again and sold short again, the shares borrow number *could* exceed 100%. The daily available shares available to borrow often taps the zero shares mark before magically finding more shares the next day.
+
+Let's math
+
+GME Shares outstanding: 70.03M
+
+GME Float: 45.99M
+
+Irrational Puts from now until Jan 2023:
+
+Apr 16 7,067
+
+Apr 30 6,124
+
+May 7 577
+
+May 14 135
+
+May 21 3,648
+
+May 28 150
+
+Jul 16 299,922
+
+Oct 15 14,736
+
+Nov 19 22,760
+
+Jan 22 220,355
+
+Jan 23 43,984
+
+Total puts: 619,458
+
+Shares equivaluent: 61,945,800
+
+Shares borrowed & rehypothecated for shorting: 45.99M (100% of the float)
+
+Shares failed to deliver: 61.95M (From Married Put remnants)
+
+Estaimted Short Interest: 107.94M total shares
+
+Estimated Short Interest: 234% using the proper industry-standard technique for calculating it
+
+Estimated Short Interest: 70% using the dumb new method S3 Partners invented of calculating it
+
+Discussion
+
+Through the magic of re-borrowing a share sold short, there could be an infinite number of shares rehypothecated but in practice if we assume all shares purchased and placed in a cash account by and honorable broker, only X% of shares could be borrowed back so we have a case of diminishing returns. No idea what X% is here, but if you are reading this post please please move your shares to a cash account or take some action to prevent them from being borrowed. *Small changes to this X percentage have a dramatic effect on the ability to do this type of re-borrowing.*
+
+Conjecture
+
+Personally, I think X% here is 50%, which after maximum re-borrowing works out to be equal to the entire float. i.e. Half the shares are not available to borrow but the ones that are have been re-borrowed. (0.5 + 0.25 + 0.125 + 0.0625 + 0.03125 ... = 0.99) This is why I made the assumption above that shares equal to 100% of the float have been borrowed.
+
+DTC Borrow Rule
+
+Yes, the new DTC rules would prohibit this type of re-borrowing because you cannot borrow a share that has alredy been borrowed. All the shares borrowed more than once would have to be covered, which is half the outstanding float if you subscribe to my 50% estimate.
+
+Very Conjectural
+
+From the latest Bloomberg dump, the Institutions own 122% of the float and from my math we own about 105%. This is actually the reason I did this specific calculation, because I wanted to know if retail owned enough shares to force a moass even if all the Institutions were ordered to paper-hand by the PTB. If Institutions paper-hand in exchange for a seat at the asset auction for Citadels corpse, the moass hits Millions per shares rather than Trillions per share.
+
+And at a minimum, 61.6M shares must be covered just to get back to a (legal) 100% Short Interest on the stock.
+
+Sources
+
+[What DFV knows](https://www.reddit.com/r/Superstonk/comments/mtftsq/i_think_i_figured_out_what_dfv_knows_and_its/)
+
+[Original Post on Married Puts](https://www.reddit.com/r/GME/comments/mgj0j1/the_naked_shorting_scam_revealed_lending_of/)
+
+[Finra](https://finra-markets.morningstar.com/MarketData/EquityOptions/detail.jsp?query=126%3A0P000002CH&sdkVersion=2.59.0)
+
+[Yahoo Finance](https://finance.yahoo.com/quote/GME/key-statistics?p=GME) [Stonk Tracker](https://gme.crazyawesomecompany.com/)
+
+---
+
+**Relevant Comment by [u/Soulsauce042689](https://www.reddit.com/user/Soulsauce042689/)**
+
+Just a quick couple of notes, on some common misunderstandings that DO NOT contradict OP's points, but do shore up some things:
+
+Real shares can not be double borrowed DTC has been tracking lent shares since 2008 if not longer. [Relevant filing: DTC-2021-05]
+
+"if that's the case, how does the SI% reach 226% then?" Best possible answer I can come with is naked shorting - illegal if entity is not a bonafide market maker.
+
+* * * * *
+
+Rehypothection is a lender (broker in this case) using collateralized assets as collateral to borrow from another lender. An example - your home is collateral for your mortgage, your mortgage lender may use your home to gain borrow from their lender.
+
+Relevant note on margin accounts - In margin accounts up to 140% of your equity can be used in rehypothection to borrow capital from another lender.
+
+* * * * *
+
+One big piece to watch this week (22/04) is if brokers have lent more shares than they have the ability to cover. I'm going to be keeping a close eye on borrowable shares and borrow rate. If a significant portion or brokers are over extended on lent shares we can see a massive recall resulting in shorts being (hopefully) forced to cover.

Confirmation-Bias-and-Discussion/Married-Put-Forensic-Analysis-by-AlexanderHood/2021-05-11-Married-Put-Forensic-Analysis.md

@@ -0,0 +1,133 @@
+May Update on the Married-Put Forensic Analysis
+
+===============================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/AlexanderHood](https://www.reddit.com/user/AlexanderHood/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nacqtm/may_update_on_the_marriedput_forensic_analysis/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+About a month ago I did an analysis for the real short interest (SI) for GME using what know about the legal Married Put mechanism for creating naked shorts.
+
+I wanted to revisit what we know for sure about the mechanism for how the FTD's are hidden, the latest put option open interest and why the new DTC rule about double-borrow shares was implemented. Yes, I know some people don't think these remnants don't mean what we think they mean, but maybe they do.
+
+TLDR Married Puts continue to be used to create naked shorts. Short Interest is at least 152% and increasing by over 100,000 shares per week.
+
+Assumptions
+
+1\.  Citadel and friends are using the Married Put method of hiding FTD's.
+
+2\.  Any Put at a strike of $20 or less is an irrational option play no sane person would make.
+
+3\.  These apprently irrational puts are in fact part of a rational mechanism for hiding a FTD.
+
+4\.  The current outstanding number of irrational puts is correlated to the number of FTD's resulting from naked shorts.
+
+What does irrational mean? Betting GME will drop below $1 by the end of the year is bonkers.
+
+Let's math!
+
+GME Shares outstanding: 70.77M
+
+GME Float: 47.75M
+
+Irrational Puts from now until Jan 2023:
+
+| Option Expiry | Open Interest Apr 18 | Open Interest May 11 |
+
+| --- | --- | --- |
+
+| Apr 16 | 7,067 | 0 |
+
+| Apr 30 | 6,124 | 0 |
+
+| May 14 | 135 | 683 |
+
+| May 21 | 3,648 | 3,990 |
+
+| May 28 | 150 | 412 |
+
+| Jun 4 | 0 | 64 |
+
+| Jun 11 | 0 | 11 |
+
+| Jun 18 | 0 | 1,046 |
+
+| Jun 25 | 0 | 13 |
+
+| Jul 16 | 299,922 | 303,927 |
+
+| Oct 15 | 14,736 | 19,223 |
+
+| Nov 19 | 22,760 | 22,601 |
+
+| Jan 21, 2022 | 220,355 | 224,653 |
+
+| Jan 20, 2023 | 43,984 | 46,136 |
+
+| Total puts | 619, 458 | 622,769 |
+
+Shares short from Married Put remnants on April 18th: 61.9M
+
+Shares short from Married Put remnants on May 11th: 62.2M
+
+Ok, what is this?
+
+The number of naked short shares implied by Married Put remnants has increased by 331,100 shares in the last three weeks.
+
+-   Over 13k of irrational puts that expired worthless in the last three weeks but the total number of Irrational Puts continues to increase. Not only are they are continuing to utilize this method of shorting, but they are increasing in number as well by apx 100k per week.
+
+-   Ortex has 'exchange reported' Short Interest at 22.2%, or 10.6M shares.
+
+-   Combing the calculated naked short interest of 62.2M with the official short interest, we get 72.8M shares short or *152.5% SI*.
+
+-   On May 21st we have another 3,648 of irrational puts expiring, we'll see if they get 'rolled' over as well.
+
+-   The next BIG batch of Irrational Puts is set to expire in just 8 weeks, July 16th, over 300,000 or nearly HALF of them our there in fact. If we see a fresh batch of about 300,000 puts get created that day for an Op Ex six months in the future, I'll be on the phone to the SEC telling them they need to end this little charade. But do they need to get rolled? No. If apes keep buying, they need to short that number of shares, whatever the cost and by any means.
+
+Discussion
+
+Could the Short Interest be higher than this? ABSOLUTELY. This calculation does NOT include short shares created directly using legal Market Maker provisions and have not yet been covered by that Market Maker. This calculation does NOT include legal short shares created using the re-borrowing method. This calculation does not include shares shorted via the ETF's. (62 [ETF's](https://www.etf.com/stock/GME) hold 10.5M GME shares.) This calculation does not include any other means of shorting.
+
+The new DTCC rule SR-DTC-2021-005 would prohibit the re-borrowing of a borrowed share. Will that rule apply the NSCC Share Borrow Program as well? Let's hope so. They pulled the draft of this but I'm hoping to see it make a return soon. (See links below for more detail on 005.)
+
+Once the new DTCC rule prohibiting the re-borrowing of borrowed shares kicks in we should expect the borrowing costs to spike like crazy. It is the end, effectively, and will trigger squeezes everywhere. They pulled the first draft, probably becasuse the timing isn't right. Anxiously awaiting the re-release of 005 and the implementation timing. Aren't we all!
+
+Disposing of the Evidence
+
+When these expire, they're gone. Wiped off the books. Of course they are, these puts are worthless after all. Never intended to be exercised.
+
+~~HELP! If anyone has the options data from Jan 15th and Mar 16th, would like to see how many more of these puts expired on those dates. i.e. How much were they using this before GME went all baby-squeeze January 28th?~~ Edit: Got the data, stay tuned! Thanks to Full_Option_6067 for the info! There are more shorts!
+
+The advantage of picking options expiries with each quarter is that you get super-cost efficient strikes at like $0.50 but the big disadvantage is that the open interest SITS out there for months on end, waiting for some smooth-brained apes to figure out what it means.
+
+When are they going to end the Married-Put shanannigans? Who knows.
+
+Total Conjecture
+
+Why was 005 delayed? Officially, for "reformatting". Tin-foil hat time: After posting it they found out this loophole for legally naked shorting stocks is in widespread use by every Hedgie and on hundreds of other distressed stocks. It's not just AMC and GME. If they nerf it we could be looking at a crack-up boom in the market and dozens of bankrupt hedges. Why a crack-up boom?? I'll give you a few million reasons: [Because every FTD is a naked short](https://wherearetheshares.com/).
+
+The Great Halvening
+
+[Never forget this happened](https://www.reddit.com/user/RubinoffButtChug69/comments/lfdcv1/fintel_changed_their_short_volume_data_after_my/?context=3)
+
+I saw the Great Halvening happen with my own eyes, so I've just been multiplying all their SI numbers by 2 to figure out the in-adjusted SI. Where they hid the rest of the original '140%' short of GameStop ... remains a mystery.
+
+Sources
+
+[Original Post on Married Puts](https://www.reddit.com/r/GME/comments/mgj0j1/the_naked_shorting_scam_revealed_lending_of/)
+
+[DTC-005 Original Doc](https://zenodo.org/record/4718936/files/005%20-%20SEC%20SR-DTC-2021-005-2%20-%20submission%20of%20rule%20finding.pdf?download=1)
+
+[DTC-005 Analysis](https://www.reddit.com/r/GME/comments/mi8mo9/legal_interpretation_of_the_proposed_srdtc2021005/)
+
+[Share Borrowing Program](https://smithonstocks.com/part-7-illegal-naked-shorting-dtcc-continuous-net-settlement-and-stock-borrowing-programs-have-loopholes-that-facilitate-illegal-naked-shorting/)
+
+[Yahoo Finance](https://finance.yahoo.com/quote/GME/key-statistics?p=GME)
+
+[Stonk Tracker](https://gme.crazyawesomecompany.com/)
+
+Edit: As requested 🚀🚀🚀

Confirmation-Bias-and-Discussion/Married-Put-Forensic-Analysis-by-AlexanderHood/2021-05-19-Married-Put-Forensic-Analysis.md

@@ -0,0 +1,147 @@
+May 19th Update on the Married-Put Forensic Analysis
+====================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/AlexanderHood](https://www.reddit.com/user/AlexanderHood/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/ngp969/may_19th_update_on_the_marriedput_forensic/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+If you're feeling blue cause of all the red, I have some confirmation for your bias right here. :)
+
+You shouldn't need it, cause the [004](https://www.sec.gov/rules/sro/occ.htm) news should have every part of your body totally jacked.
+
+Since we just had such a blood-red day I wanted to check the current option Open Interest to see how much of todays selling pressure was from Naked Shorting. Well, we know Apes certainly aren't selling, so its gotta be bare nekkid!
+
+This is an update to my previous post on Married-Put Remnant Forensics [here.](https://www.reddit.com/r/Superstonk/comments/nacqtm/may_update_on_the_marriedput_forensic_analysis/) If you haven't read that, read it first for the context of this post.
+
+TLDR Short Interest increased by another 5% last week to 155% of the float and there may be even more shorts hiding in short-term put options for an additional 17% short interest.
+
+No, seriously, go back and read that first one then come back.
+
+Let's go!
+
+Updated Calculated Short Interest from Married-Put Remnants
+
+GME Shares outstanding: 70.77M
+
+GME Float: 47.75M
+
+Irrational Puts from now until Jan 2023:
+
+| Option Expiry | Open Interest Apr 18 | Open Interest May 11 | Open Interest May 28 |
+| --- | --- | --- | --- |
+| Apr 16 | 7,067 | 0 | 0 |
+| Apr 30 | 6,124 | 0 | 0 |
+| May 14 | 135 | 683 | 0 |
+| May 21 | 3,648 | 3,990 | 0 |
+| May 28 | 150 | 412 | 484 |
+| Jun 4 | 0 | 64 | 211 |
+| Jun 11 | 0 | 11 | 108 |
+| Jun 18 | 0 | 1,046 | 1,458 |
+| Jun 25 | 0 | 13 | 28 |
+| Jul 16 | 299,922 | 303,927 | 303,679 |
+| Oct 15 | 14,736 | 19,223 | 19,285 |
+| Nov 19 | 22,760 | 22,601 | 22,527 |
+| Jan 21, 2022 | 220,355 | 224,653 | 226,991 |
+| Jan 20, 2023 | 43,984 | 46,136 | 45,859 |
+| Total puts | 619, 458 | 622,769 | 624,608 |
+| Shares short | 61.88M | 62.27M | 62.46M |
+
+Ok, what does fox say?
+
+The number of naked short shares implied by Married Put remnants has increased by the equivalent 184,900 shares in just the last week.
+
+-   Ortex has 'exchange reported' Short Interest at 11.82M shares.
+
+-   4,600 put contracts have expired since the previous post but there is still a net *increase* of 1,839 contracts.
+
+-   Combining the calculated Naked Short interest of 62.46M with the official 11.82M short interest, we get 74.28M shares short or *155.6% SI*.
+
+So, the Short Interest has *increased* by another ~5% over the last week while GME went from $146 to $168. (Wow. Apes are crushing!)
+
+The Great Put Embiggening
+
+Thanks to [u/Full_Option_8067](https://www.reddit.com/u/Full_Option_8067/) for digging up the options chain from January!
+
+Back on January 15th the open interest for sub $20 Jan 2022 Puts was 22,278 which today has over 223,653 puts. The March sub $20 Puts was 29,374 and today that has ballooned to 224,653 puts.
+
+Yup. No real suprise here, the baby-squeeze on Jan 28th sorta marked the beginning of the marry-them-puts shenannigans to drive the price action down down down.
+
+Could this indicate naked shorting was occuring back in Jan? Possibly and probably. Certainly not to the extent it is today or at least the means to short GME were not predominantly Married-Put naked shorting.
+
+The Wedding Planner
+
+Considering the Put part of a Married-Put trade is NEVER gonna be used, it makes sense to minimize the cost the these types of puts. If you look at the January 2022 put options, the $0.50 strike costs just 2 cents! Two freaking cents! I guess even hedgies don't like throwing money away if they don't have to.
+
+This explains why the pattern for these is densely clustered around just two Option dates a super-low-strikes. July 16th and Jan 21, 2022. These are the most cost-effective places to dump irrational puts. Only one problem, they stick out like a sore thumb. This got me thinking, where else can they hide shorts?
+
+When you make an Assumption ...
+
+When I wrote my original post on this topic I picked $20 as the cutoff strike price to delimit rational from irrational puts. I did that by eyeballing the double-distribution of puts across the Option Expiry dates and found a valley. Normal stocks don't have such exaggerated double humps and instead call/put action *generally* creates a nice camel hump pattern around the current stock price with the sporradic YOLO or fatfinger bet outliers.
+
+That was a bad assumption and the more correct way to do it would be to define irrational puts by their implied volatility or more directly by their cost-effectiveness, knowing that anything spent on the cost of that put option is totally written off.
+
+BUT, you can't just load up on *half a million* $0.01 put options in July at a $0.50 strike! That's gonna stand out like a big turd on the sidewalk, apes or somebody might notice that. You gotta spread those puts around a bit. So they grabbed 148k at $0.50 strike, 30k more at the $1.00 strike and well ... that's really not very well spread out. In thier defense, only the July 16 and Jan 21, 2022 Option Expiry dates have these ridiculous strikes so if there really wasn't a lot of other places to spread these turds out.
+
+Shotgun Weddings
+
+After snorting a few more crayons and reconsidering what an 'irrational put' is defined as, the next most obvious place to look was ANY puts that are really cost-effective with high-implied volality. (i.e. fat chance in hell of hitting that strike price.)
+
+Of course, SHORT TERM put options!
+
+Perfect place to hide more turds. You can get them cheap cause of the greeks, very often less than ten cents for the contract! Yeah, they expire within days, but there is a solution to that: Let them. Buy more next week.
+
+Let's look at the irrational puts for the next couple of months option expiry and filter for *ten cent* put options with 200%+ Implied Volatility:
+
+| Option Expiry | 10 cent puts, high IV |
+| --- | --- |
+| May 21 | *75,971* |
+| May 28 | 2,717 |
+| Jun 4 | 1,036 |
+| Jun 11 | 306 |
+| Jun 18 | 1,948 |
+| Jun 25 | 36 |
+| Total | 82,014 |
+
+Boom! This Friday, nearly 76 thousand *worthless* puts expiring. Go look at the put option chain yourself [here](https://www.barchart.com/stocks/quotes/GME/options?expiration=2021-05-21-m&moneyness=allRows). Seriously, look at it. Does it make any sense? Dirt cheap puts with over 300% IV all the way up to a $80 strike. Who would buy an insane option like this? Anyone here think GME is going to drop by half in two days? Yeah, me either.
+
+That's potentially another 8.2M shares short, bringing our calculated Short Interest up to 82.5M shares short or 172.8% Shorted of the float.
+
+How can we confirm they are rolling short-term puts as part of married put trades? We should know Monday, cause the total open interest for irrational puts needs to be maintained in order for them to continue under the pretense of using this as a *legal* means of naked short selling. And this is a ton of open interest that's gotta get rolled. The OI for next week is a mere 2,717 contracts so if we see massive amounts of irrational puts Monday, there you go.
+
+Could the Short Interest be even higher?
+
+ABSOLUTELY.
+
+This calculation does NOT include short shares created directly using legal Market Maker provisions and have not yet been covered (T+21) by that Market Maker. This calculation does NOT include legal short shares created using the re-borrowing method. (See 005 below.) This calculation does not include shares shorted via the ETF's. (62 [ETF's](https://www.etf.com/stock/GME) hold 10.5M GME shares and that undoubtedly all been shorted.)
+
+Conclusion
+
+Hedgies r fuk. They're digging an even deeper hole with every passing day. Every time I look at it there are more shorts. Naked shorts, everywhere. And I don't think we've found them all. There could be millions more hidden using 005 re-borrowing and millions more in rolling FTD's. I will not be surprised, if it turns out the real number was closer to 1,000% SI.
+
+I do believe they are limiting themselves to only *legal* mechanisms for shorting the stock. Otherwise we would *not* see all the evidence they have left behind, like open puts, FTD reports, 13F's, etc. Which is probably a wise decision, when they get busted, none of them will actually go to jail.
+
+The rate the SI in increasing is clearly unsustainable. The DTCC needs to margin call them ASAP. Every day they delay increases the cost by ~21 thousand shares, or about $210 million a day if the moass geometric mean is $10k. *cough* or higher. ;)
+
+Sources
+
+[Citadel 13F - Fintel](https://fintel.io/i13f/citadel-advisors-llc/2021-03-31-0)
+
+[Original Post on Married Puts](https://www.reddit.com/r/GME/comments/mgj0j1/the_naked_shorting_scam_revealed_lending_of/)
+
+[DTC-005 Original Doc](https://zenodo.org/record/4718936/files/005%20-%20SEC%20SR-DTC-2021-005-2%20-%20submission%20of%20rule%20finding.pdf?download=1)
+
+[DTC-005 Analysis](https://www.reddit.com/r/GME/comments/mi8mo9/legal_interpretation_of_the_proposed_srdtc2021005/)
+
+[Share Borrowing Program](https://smithonstocks.com/part-7-illegal-naked-shorting-dtcc-continuous-net-settlement-and-stock-borrowing-programs-have-loopholes-that-facilitate-illegal-naked-shorting/)
+
+[Barchart Options](https://www.barchart.com/stocks/quotes/GME/options?expiration=2021-05-21-m&moneyness=allRows)
+
+[Stonk Tracker](https://gme.crazyawesomecompany.com/)
+
+Required
+
+🚀🚀🚀

Confirmation-Bias-and-Discussion/Married-Put-Forensic-Analysis-by-AlexanderHood/2021-05-26-Married-Put-Forensic-Analysis.md

@@ -0,0 +1,159 @@
+May 26th Update on the Married-Put Forensic Analysis - Shorts all the way down
+
+==============================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/AlexanderHood](https://www.reddit.com/user/AlexanderHood/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/nl90c5/may_26th_update_on_the_marriedput_forensic/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+T'was the night before MOASS'mas and if you're too jacked to sleep, I have something to keep you jacked until Market Open.
+
+Following up to my post from last week, [here](https://www.reddit.com/r/Superstonk/comments/ngp969/may_19th_update_on_the_marriedput_forensic/).
+
+If you haven't already that, this business about Married-Put-Remnants and Irrational-Puts won't make much sense, so go catch up and then pop back here after, kthxbye!
+
+Last week, on Days of our Lives Buying and Hodling ...
+
+We saw about 75k Irrational Puts expire. Poof! Gone. Where did they go?
+
+What we did *not* see Monday morning was an additonal 75k Irrational Put options get opened up, that's for sure. What we *did* see yesterday and today, was a nice well-distributed build up of Irrational puts all across the board, spread out like sand on a beach. Totally innocuous.
+
+Pop quiz hot shot! It's 2:30pm on a Tuesday, GME is ripping faces and chewing bubble-gum, boosters firing from $180 to over $210! What do you do?
+
+*Buy put options at a $30 strike for this Friday.*
+
+What??? No. Why on earth would anyone buy that crap? It's worthless. *Irrational*, if you will. ;) But that's exactly what happened today. And a lot more of it.
+
+(Note: Some of todays largest put option trades were late afternoon, low-strike, low-cost and interestingly, not out of the *PHLX* exchange! Aha!)
+
+Naked Naked Naked ... Pop Pop Pop
+
+I've been watching the low-strike put options open interest to see how it changes day-to-day. Here is a comparison of today to yesterday, a snap-shot of some Irrational Puts popping into existence:
+
+Option Expiry Date: May 28th
+
+| Strike | OI May 24 | OI May 25 | Delta |
+
+| --- | --- | --- | --- |
+
+| $10.00 | 348 | 363 | 15 |
+
+| $20.00 | 137 | 205 | 68 |
+
+| $30.00 | 603 | 756 | 153 |
+
+| $40.00 | 501 | 647 | 146 |
+
+| $50.00 | 296 | 704 | 408 |
+
+| $60.00 | 457 | 404 | -53 |
+
+| $70.00 | 759 | 813 | 54 |
+
+| $80.00 | 327 | 395 | 68 |
+
+| $90.00 | 185 | 493 | 308 |
+
+| $100.00 | 3,006 | 3125 | 119 |
+
+| $110.00 | 1,027 | 954 | -73 |
+
+| $120.00 | 806 | 901 | 95 |
+
+| $130.00 | 560 | 973 | 413 |
+
+| Sum | 9012 | 10733 | +1,721 |
+
+With GME soaring, the cost of most of these low-strike options dropped to super-cheap levels. You could pick up puts at even a $130 stike for just $0.23 cents! Looking over the distribution of puts at strikes today, we saw widespread increases all the way up to about the $130 strike. So it would seem that whoever programmed the algo to distribute these evenly doesn't want to pay more than about $0.25 per contract.
+
+If the Hedgies have a budget of about $0.25 max for Married Put contract, let's take a look at the following week's Op Ex to see if we see the same pattern of evenly distributed puts added today for low-strike options.
+
+Option Expiry Date: Jun 4
+
+| Strike | May 24 | May 25 | Delta |
+
+| --- | --- | --- | --- |
+
+| $10.00 | 134 | 134 | 0 |
+
+| $20.00 | 83 | 92 | 9 |
+
+| $30.00 | 270 | 291 | 21 |
+
+| $40.00 | 186 | 233 | 47 |
+
+| $50.00 | 424 | 476 | 52 |
+
+| $60.00 | 262 | 278 | 16 |
+
+| $70.00 | 76 | 102 | 26 |
+
+| $80.00 | 58 | 62 | 4 |
+
+| $90.00 | 77 | 114 | 37 |
+
+| $100.00 | 361 | 466 | 105 |
+
+| $110.00 | 239 | 315 | 76 |
+
+| $120.00 | 260 | 389 | 129 |
+
+| $130.00 | 174 | 224 | 50 |
+
+| Sum | 2604 | 3176 | +572 |
+
+Yup.
+
+And we see even more of these Irrational Puts added to June 11th Op Ex contracts, more added into the Hedgie perennial favorite the July 16th contracts and a few more in the Jan 21, 2022 contracts. (Refer to previous post for the last analysis I did for these last two dates.)
+
+Every day we are seeing more and more of these Short-Term put options come into existence, about 4-5,000 per day representing about 400 to 500,000 shares.
+
+What does all this mean?
+
+Short Interest continues to be hidden in Long-Term Low-Strike Put options as well as low-cost Short-Term put options.
+
+In my previous post I did an analysis using a new criteria for what an Irrational Put is, a contract for $0.10 or less with high IV. Looking at today's newly minted put contracts, these are getting up to the $0.25 range on the high-end, although the *majority* remain clustered below $0.10 there are some few being added at even these higher ranges most likely due to some semi-random algo trying to hide these puts here without accidentally making it totally obvious that they have some specific allocaation.
+
+What about the puts that expired last week?
+
+Yes indeed. What about them.
+
+Nothing. They expired.
+
+After yesterday and today's powerful confirmation of the T+35, T+21 theory, I am inclined to think the Hedgies just stuck the Market Maker with them. Legally, the Married-Put is used to justify the creation of the Naked Short, the two allow the MM to remain 'neutral'. Ok, but what happen's when those Naked Shorts are still out there and the Put contract that was balancing them out expires? *The MM has to cover them.*
+
+Not straight away, the day after Op Ex (the following Monday) begins the T+35 part of the FTD cycle. They will cover those shares 35 days hence.
+
+The MM's are out there covering Naked Shorts on the 35th day, which would start spiking the price action so the SHF need to create *more* Married-Puts to create *more* Naked Shorts to again push GME down.
+
+Today, GME shot up 20% and the Short Interest *increased*! The MM's are buying to cover which is spiking the price and the SHF continue to drive it down with Married-Put Naked shorts. The SHF have *not* started covering, still just kicking the can another 35 days down the road.
+
+Implications for Short Interest
+
+I had previously estimated SI using Married Put remnants at 172%, but now that we are seeing Irrational Puts being created *daily*, that estimate is very, very low. There are way more Irrational Puts in existence, *including Short-Term puts and also expired puts* than I had accounted for. By the time I finish adding all of it together the Short Interest is going to be north of 340% at a minimum.
+
+Each week as these Short-Term Irrational puts expire, they are kicking off a batch of FTD's that need to get covered ~35 days later. Expired yeah, but the impact they had on the price action when they were first created persists, with GME trading sideways for weeks and weeks on end. Eventually they get covered (often at a lower price) and new Naked Shorts are created to replace them. In the meantime, every Monday a huge new batch of Naked Shorts is being created and *juggled* in a huge T+35 day loop.
+
+Last week the equivalent of over 7.5M shares worth of puts expired. That doesn't mean every week they have been creating millions of Naked Shorts, but if they want to keep the price action from rising, sufficient Naked Shorts need to be created equal to the total retail buying pressure. How much is that? We'd need to go count all the expired Irrational Puts since Jan to get an estimate. If we knew, we could better estimate the true SI and the MOASS peak & geometric mean. Data from Jan did indicate this practice of using Married-Puts increased by 10x after Jan 28th.
+
+I really hope Cohen just comes out and tells us how many shares are outstanding. That would be easier. :/
+
+Sources
+
+[Original Post on Married Puts](https://www.reddit.com/r/GME/comments/mgj0j1/the_naked_shorting_scam_revealed_lending_of/)
+
+[DTC-005 Original Doc](https://zenodo.org/record/4718936/files/005%20-%20SEC%20SR-DTC-2021-005-2%20-%20submission%20of%20rule%20finding.pdf?download=1)
+
+[Share Borrowing Program](https://smithonstocks.com/part-7-illegal-naked-shorting-dtcc-continuous-net-settlement-and-stock-borrowing-programs-have-loopholes-that-facilitate-illegal-naked-shorting/)
+
+[Barchart Options](https://www.barchart.com/stocks/quotes/GME/options?expiration=2021-05-21-m&moneyness=allRows)
+
+[Stonk Tracker](https://gme.crazyawesomecompany.com/)
+
+Required
+
+🚀🚀🚀

Crypto/2021-07-07-A-Crypto-Deep-Dive.md

@@ -0,0 +1,139 @@
+A crypto dive with the Jellyfish - 10 things about crypto that could be useful to know going into the 7/14 reveal.
+==================================================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/Dismal-Jellyfish](https://www.reddit.com/user/Dismal-Jellyfish/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/ofndb0/a_crypto_dive_with_the_jellyfish_10_things_about/) | 
+
+---
+
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+[![r/Superstonk - A crypto dive with the Jellyfish - 10 things about crypto that could be useful to know going into the 7/14 reveal.](https://preview.redd.it/7du1kjnfot971.jpg?width=320&format=pjpg&auto=webp&s=59591863e05125f8bd644d116f2b5d85aabac612)](https://preview.redd.it/7du1kjnfot971.jpg?width=320&format=pjpg&auto=webp&s=59591863e05125f8bd644d116f2b5d85aabac612)
+
+Good afternoon r/Superstonk, Jellyfish here to try and discuss crypto (ducks!)
+
+1\. NFTs
+
+NFTs on E t h e r e u m are what I think everyone is most familiar with already. They are unique tokens that can be used by creators to tokenize a wide range of content (not just art).
+
+[![r/Superstonk - A crypto dive with the Jellyfish - 10 things about crypto that could be useful to know going into the 7/14 reveal.](https://preview.redd.it/lvao1vkmot971.png?width=891&format=png&auto=webp&s=5ff19d7073639abdfc1d05d3be0cd694c65a3d84)](https://preview.redd.it/lvao1vkmot971.png?width=891&format=png&auto=webp&s=5ff19d7073639abdfc1d05d3be0cd694c65a3d84)
+
+According to a report by decentralized app marketplace DappRadar, the average number of NFT sales rose almost 300%, from 21,815 per day in January, to 82,373 in May (so far). This number rose even higher as crypto prices started to plummet on May 12, with sales surging to almost 94,000 NFT transactions a day.
+
+2\. Smart Contracts
+
+Smart Contracts automatically executes code once specific terms have been met. They first started as programmable money but are decentralized digital legos capable of lending, borrowing, swapping, and much more to come.
+
+[![r/Superstonk - A crypto dive with the Jellyfish - 10 things about crypto that could be useful to know going into the 7/14 reveal.](https://preview.redd.it/8cdhs7zqot971.jpg?width=1600&format=pjpg&auto=webp&s=e66c3ecbd4cddec46073ad8f9f1d495667d96801)](https://preview.redd.it/8cdhs7zqot971.jpg?width=1600&format=pjpg&auto=webp&s=e66c3ecbd4cddec46073ad8f9f1d495667d96801)
+
+3\. DeFi
+
+DeFi: has exploded but in GameStop's case, I think it might be leveraged for flexibility and its non-custodial nature. With DeFi, GameStop can become its own bank and cut out costly middlemen. This is also why [I think GameStop should participate in this FDIC sprint](https://www.reddit.com/r/Superstonk/comments/oevr9p/guys_the_fdic_might_not_realize_it_yet_but_they/)
+
+[](https://preview.redd.it/t9wyuo4sot971.gif?format=mp4&s=233a990c2aea7d7c4e3f3f967b390d3bf6e674d5)
+
+How it is today
+
+[![r/Superstonk - A crypto dive with the Jellyfish - 10 things about crypto that could be useful to know going into the 7/14 reveal.](https://preview.redd.it/dcbrp34uot971.png?width=729&format=png&auto=webp&s=5917e265b8dabec0ddd9e2f18eadf40f79015303)](https://preview.redd.it/dcbrp34uot971.png?width=729&format=png&auto=webp&s=5917e265b8dabec0ddd9e2f18eadf40f79015303)
+
+How it could be
+
+4\. Developers
+
+E t h e r e u m is attracting the world's developers. Since Q3 2019, E t h e r e u m has gained more than 300 developers per month, with GameStop entering the fray with:
+
+[Jordan Holberg @eviljordan](https://twitter.com/eviljordan), [Matt FinΞstonΞ | @finestonematt](https://twitter.com/finestonematt), [j@Cyberhorsey](https://twitter.com/Cyberhorsey)
+
+5\. Interoperability
+
+This is one area I feel many people are overlooking. E t h e r e u m will unlock potentially hundreds of billions of dollars in liquidity from POS blockchains through interchain accounts and interoperable staking.
+
+[Maybe they work with NFT Ghost?](https://twitter.com/ghostnft?lang=en)
+
+I see these guys as more of a competitor currently, but what if Dapper Labs want to take advantage of GameStop's brand loyalty customer base to market [Top Shot](https://nbatopshot.com/), [CryptoKitties](https://www.cryptokitties.co/?utm_source=dapperlabs), [Wizards](https://cheezewizards.com/?utm_source=dapperlabs), or [Dapper](https://www.meetdapper.com/?utm_source=dapperlabs) in the GameStop NFT Marketplace?
+
+-[What if they partner with Age of Rust and let it on the GameStop NFT marketplace?](https://enjin.io/powered-by-enjin/age-of-rust)
+
+0:00
+
+2:13
+
+Looks niffty!
+
+6\. Metaverse
+
+NFTs on E t h e r e u m will power a universe beyond our own like the Oasis in Ready Player One.
+
+Virtual reality technology will power an augmented reality of virtual space and tokenized in-app purchases.
+
+[![r/Superstonk - A crypto dive with the Jellyfish - 10 things about crypto that could be useful to know going into the 7/14 reveal.](https://preview.redd.it/ahbjvus6pt971.jpg?width=300&format=pjpg&auto=webp&s=df069651e90d4016a1e16dbe2a3cd805b052b0eb)](https://preview.redd.it/ahbjvus6pt971.jpg?width=300&format=pjpg&auto=webp&s=df069651e90d4016a1e16dbe2a3cd805b052b0eb)
+
+7\. Decentralized autonomous organizations (DAOs)
+
+DAOs are entities made up of any number of individuals who maintain the group's decisions in a distributed manner. Individuals can use tokens to vote and propose ideas they want for the protocol. I wouldn't be surprised if GameStop goes this route for governance. As a side note, I do see DAO's as the future of [r/Superstonk](https://www.reddit.com/r/Superstonk/) after MOASS for fairly and transparently kicking ass with tendies.
+
+[![r/Superstonk - A crypto dive with the Jellyfish - 10 things about crypto that could be useful to know going into the 7/14 reveal.](https://preview.redd.it/nir4ttr7pt971.png?width=446&format=png&auto=webp&s=e5f5cf8ed0f17e5573ea0a38d24e4d95279d8176)](https://preview.redd.it/nir4ttr7pt971.png?width=446&format=png&auto=webp&s=e5f5cf8ed0f17e5573ea0a38d24e4d95279d8176)
+
+8\. Layer Two (L2)
+
+There are a lot of projects working on layer two scaling solutions in an effort to scale E t h e r e u m---big argument against E t h e r u m as it stands now as it cannot process enough transactions efficiently to scale.
+
+L2 solutions (where GameStop will live) focus on highly complex topics ZK-rollups for example (great to have Matthew Finestone!) as they have the ability to bring E t h e r e u m to 2,000 TPS
+
+[![r/Superstonk - A crypto dive with the Jellyfish - 10 things about crypto that could be useful to know going into the 7/14 reveal.](https://preview.redd.it/fzc9kfvapt971.png?width=744&format=png&auto=webp&s=2ddf370809298a5b6d8e468d0cab18aea924e470)](https://preview.redd.it/fzc9kfvapt971.png?width=744&format=png&auto=webp&s=2ddf370809298a5b6d8e468d0cab18aea924e470)
+
+GameStop's head of blockchain comes by way of Loopring
+
+9\. EIP-1559
+
+I think the company should allocate a portion of that to staking e t h e r e u m and offering the ability to stake to GameStop's user base.
+
+In the future, I believe GME values decentralization of ownership of our digital assets, which is why we should buy and mint NFT's on GameStop's Blockchain.
+
+For the less blockchain familiar GameStop users, I think GameStop should open up the protocol to allow E t h e r e u m 2 staking with GME. Empower the players to secure the metaverse?
+
+For the balance sheet though, if you're staking on E t h e r e u m 2.0, E t h e r e u m 's parallel PoS network, your operations are earning you a roughly 8% annual percentage return (APR). This number is higher than the rate of inflation that we covered as well! Yes, E t h e r e u m fluctuates in price, but as we covered above, staking will also further secure and make the network stronger, which in turn does the same for the metaverse!
+
+EIP-1559 is in flight. What this means is that the net "issuance" of new coins minted is going to be dramatically lowered. To put it in perspective, the issuance rate right now is 4.5% per year, the estimates for the issuance rate after EIP 1559 is implemented are .5 - 1%. Why does this matter?
+
+So b I t c o in issuance halves every 4 years right? (this is what makes the stock-to-flow model tick) Well, an issuance drop from 4.5% is the equivalent of 3 halvenings happening at one time. (4.5 cut in half to 2.25 again to 1.125 and again to .56). E t h e r e u m is already at a multi-year low supply on exchanges, once this happens E t h e r e u m will become more instantly scarce. People have dubbed this the "Cliffening".
+
+Right now, a lot of the crypto user interfaces 'for the less tech-savvy' are more akin to trying to navigate Windows 2.0 30+ years ago.
+
+Currently, if you mess up a transaction (don't include enough gas for it to get picked up by a miner for example), the transaction will just sit. The process of updating said transaction can be *cumbersome* depending on how you are set up, to impossible if you are hoping to just have an iPhone like user experience.
+
+EIP-1559 is going to go a long way to help on the usability front for users.
+
+Clarifying further, with EIP-1559, anyone transacting would have to pay a total transaction cost, which would be known beforehand, completely eliminating the need for a bidding system, where your transaction could get stuck as I described above..
+
+I hope that helps and I didn't screw anything up too badly!
+
+But to tie this back to inflation, (because you know I can't help myself!), this also leaves the deflationary action of EIP-1559 intact :)
+
+10\. S t a b l e c o i n s
+
+E t h e r e u m is home to many stablecoins, which have grown bigly with differenrt use cases. For example:
+
+$U S D T: $62B
+
+$U S D C: $25B
+
+$D A I: $5B
+
+They are very popular for use in DeFi, but I think will be relevant to GameStop as VISA will soon accept transaction settlement in U S D C.
+
+[](https://preview.redd.it/3v18fr8ppt971.gif?format=mp4&s=ae903e7f3b199528835d94cb78012ad615595494)
+
+I hope this one makes it through Automod!
+
+Additional posts you may enjoy:
+
+<https://www.reddit.com/r/Superstonk/comments/o77tkp/is_anyone_else_totally_jacked_for_the_714/>
+
+<https://www.reddit.com/r/Superstonk/comments/oc8xb0/its_a_problem_now_its_going_to_be_a_huge_problem/>
+
+<https://www.reddit.com/r/Superstonk/comments/o9mk4q/does_anyone_else_think_comic_books_would_make_a/>
+
+<https://www.reddit.com/r/Superstonk/comments/ob8mzm/jellyfish_putting_on_his_tinfoil_hat_for_a/>

Crypto/NFT/2021-06-29-GME-NFT-Scamcoins-a-Retroactive-Analysis-on-how-to-Prevent-Getting-Scammed.md

@@ -0,0 +1,170 @@
+GME NFT Scamcoins, a Retroactive on yesterday events.
+=====================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/Lucent_Sable](https://www.reddit.com/user/Lucent_Sable/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oa1bl7/gme_nft_scamcoins_a_retroactive_on_yesterday/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+Hey Apes!
+
+After yesterdays event where a user ended up purchasing a scam coin, I thought I would quickly write up a DD on how scamcoins commonly target uninformed GME investors.
+
+This is my first attempt at writing anything that looks like a DD, and I will be focusing on a retroactive of the event and some things that you can look out for to prevent becoming a victim of these scamcoins.
+
+If you think you are immune to being scammed, there is some interesting information on how easy it is to fool people on the internet [here](https://www.youtube.com/watch?v=dQw4w9WgXcQ).
+
+Please let me know if there is anywhere where I can add more context or information, and especially if I got anything wrong, or was unclear. I will be periodically updating this post with information from the comments to make it a better resource.
+
+1\. The anatomy of a scam
+
+Any scam has three core components.
+
+1.  Get the targets trust
+
+2.  Convince the target to give you their money
+
+3.  Get away before the target realizes they have been scammed.
+
+I will be covering these steps by giving examples from some common scams. I will then proceed to outline how I believe these steps happen in the new GME scamcoins.
+
+-   [Three-card Monte](https://en.wikipedia.org/wiki/Three-card_Monte)
+
+-   A confidence scam where shills conspire with a scammer to convince a target that they can win money in a street game.
+
+-   [Forex Scam](https://www.investopedia.com/articles/forex/09/spot-a-forex-scam.asp)
+
+-   A scam where a "professional trader" has some "special formula" that they can use to invest your money in foreign exchange markets.
+
+-   [Tech support scam](https://en.wikipedia.org/wiki/Technical_support_scam)
+
+-   A scammer calls a target and convinces them that there is a problem with their computer, which can only be fixed with their special antivirus software. The scammer will often request remote access to the targets computer, and may even request access to the targets bank account.
+
+-   [Romance Scam](https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/romance-scams)
+
+-   The scammer pretends to be romantically interested in the target.
+
+1.1 Trust
+
+The first task of any scammer is to gain the targets trust. The target needs to believe that the scammer can provide something they want.
+
+Three-card Monte
+
+In this scam, the target wants to win a bet against the scammer in order to increase the amount of cash they have. The scammer gains trust by having shills publicly lose to them in the three-card Monte game, building the illusion that the target has a realistic chance of winning.
+
+Forex Scam
+
+In this scam, the target wants to earn passive income via investing. The scammer gains trust by showing the target some of the gains their trading platform or software is capable of. This is usually done through some form of internet communication, such as email or direct-messages on social media. Fabricated screenshots may be used to increase the perceived legitimacy of the scammer.
+
+Tech support scam
+
+The scammer pretends to be a representative of a well known company such as Microsoft or Amazon. They rely on the target trusting the reputations of large companies whose names they recognize, and the scammer may add a sense of urgency to the scam which can further impair the targets judgement.
+
+Romance Scam
+
+This is one of the more vile scams. The scammer builds the targets trust by pretending to be romantically interested in the target. The goal is to make the target believe that they have a genuine relationship with the scammer, and who doesn't trust the person they are in a relationship with!
+
+1.2 Extracting the targets money
+
+The second step, once the target trusts the scammer is to convince the target to give the scammer money.
+
+Three-card Monte
+
+This one is fairly obvious. The target puts forward money in a bet on the game, not knowing that the game is rigged and they cannot win. The scammer or shill may encourage the target to keep trying, as they "Just got unlucky". At this point the scam relies on the target believing that they can still make their money back, while they lose more and more.
+
+Forex Scam
+
+The scammer request access to the targets trading account, or requests that the target send them some money to get started. If the target is still hesitant, the scammer may request a smaller amount, and then provides some fake return on investment to further build the targets trust. The scammer will keep demanding higher deposits while promising that the system is working, until the target catches on.
+
+Tech support scam
+
+The scammer requests remote access to the targets computer, often under the guise of running diagnostics. Once they have "run their diagnostics", they will try to sell some overpriced antivirus software. To extract further money from the target, the scammer may call back at a later date, and either try to get the target to pay for a renewal, or offer a "refund" which they "over-pay", and then have the target send the difference back to them. Often the scammer edits HTML on the targets bank page, or has the transaction reversed before the target sends them the difference back.
+
+Romance scam
+
+The scammer contacts the target, who believes they are in a long distance relationship with the scammer. The scammer will tell the target that they have run into legal trouble, and need some money sent to them to cover bail or a lawyers fee. Other iterations of the scam may request money for fuel, gifts, medical bills, car repairs, or anything else you can imagine. The requests keep coming in as long as the target believes that the relationship is genuine. During this process the scammer will encourage the target to take out loans and max out credit cards, even borrow money from friends and family.
+
+1.3 The Getaway
+
+The final part of the scam is getting away without the target knowing they have been scammed, or not being able to do anything about it.
+
+Three-card Monte
+
+The target eventually realizes that they are not going to win, or runs out of cash. The scammer and shill may pack up the game in a hurry and run if the target is angry or indicates they may make trouble, otherwise they will just convince the target that they got unlucky. This scam is often targeted toward tourists, as this prevents targets coming to personally recognize the scammers.
+
+Forex and tech support
+
+The scammer will stop responding to the target, and will launder the money any number of ways. The target never actually knew the real identity of the scammer, and was most likely paying money into a stolen or foreign (or both) bank account.
+
+Romance Scam
+
+If the scammer is called out on their scam, they will often start gaslighting their target. Often, due to the nature of the relationship in the scam, the target will not believe that they are being scammed, even when provided with otherwise irrefutable evidence. If they do eventually catch on, the scammer often has the same anonymity as in the Forex and Tech support scams. The target doesn't know the scammers real identity and has little to no recourse to get their money back.
+
+2\. The GME NFT Scam
+
+At this point you are probably thinking: That's interesting Lucent_Sable, but what does it have to do with GME?
+
+2.1 History of GME NFT
+
+Apes recently discovered that Gamestop is working on something to do with Etherium NFT tokens. This was found through an official Gamestop website: [nft.gamestop.com](https://nft.gamestop.com/). This is our root of trust, we know that this is officially Gamestop, as it is on the Gamestop.com domain.
+
+On this website, there is an Etherium address: 0x13374200c29C757FDCc72F15Da98fb94f286d71e.
+
+Apes looked into this address on [etherscan](https://etherscan.io/address/0x13374200c29C757FDCc72F15Da98fb94f286d71e), and found the contract for a GME coin. We know that we can trust this contract at this specific address, because it is on the official Gamestop web-site.
+
+A screenshot of the etherscan page is available [here](https://i.imgur.com/u2Pvega.png).
+
+In the screenshot, the areas outlined in Green are things that we can trust as directly describing the contract and the creator of the contract. Areas outlined in Red are things that anyone can influence by interacting with the contract, we cannot trust the information in these as they are influenced by public activity. The area in black is an information block, related to what is selected.
+
+From the information on this page that we can trust, we can determine the following
+
+1.  The contract was created by another contract: 0xce0042B868300000d44A59004Da54A005ffdcf9f
+
+2.  The contract describes a token called Gamestop (GME)
+
+3.  The code of the contract, which has been analysed by apes for important information
+
+These are the facts about the contract that we know we can trust. [u/teacoat___](https://www.reddit.com/u/teacoat___/) consolidated this information in their [DD here](https://www.reddit.com/r/Superstonk/comments/nl0lk1/gme_token_info/).
+
+Now that we have established what we know, on to the scam...
+
+2.2 The scam
+
+Yesterday, [u/samyall](https://www.reddit.com/u/samyall/) noticed a transaction involving the GME contract, in [this thread](https://www.reddit.com/r/Superstonk/comments/o9967o/gme_just_transferred_42069_gmetoken_to_itself_on/?utm_medium=android_app&utm_source=share).
+
+Let me be very clear: I am not accusing samyall of anything, and believe that they were deceived by the scammers.
+
+Image for following discussion [here](https://i.imgur.com/cZHRbfI.png).
+
+2.2.1 Building trust
+
+The information provided in samyalls post shows information on the "Erc20 Token Txns" tab. If a user is unfamiliar with what this is, they may incorrectly assume that the information in this tab is from Gamestop, as it is on the page for the official gamestop token. We know that this is not true and that anyone can send tokens to the contract address without Gamestop approving the transaction.
+
+Second, we can look at the address that sent this scamcoin to the official Gamestop contract. The address of this scammer is\
+0x133742073133c9aecdEC3a87e475C2945f23D6C0\
+which at first glance is very similar to the contract address\
+0x13374200c29C757FDCc72F15Da98fb94f286d71e\
+I believe that this address was specifically crafted to further build trust. The most recognisable first digits of the contract address and the scammers address (0x1337420) match, and many users would not look much further than that.
+
+Third, we look at the name of the token that the scammer sent to Gamestop. This scamcoin is called "GameStop (GME)", which is very similar to the official token name "Gamestop (GME)".
+
+Finally, we can look at the etherscan profile of the scammer address (image [here](https://i.imgur.com/yiRkV5U.png)) This shows that the scammer created 69,420,000 tokens. This is both similar to the number of outstanding shares ~70 Million, and a funny internet number (69 & 420 are in it). This further builds legitimacy as it is similar to what we would expect to see, and plays to our biases.
+
+2.2.2 Extracting money
+
+The scammer had convinced at least one member of our community ([u/shroommyBoom](https://www.reddit.com/u/shroommyBoom/)) was convinced by this scam coin, and lost about $30, in this [post](https://old.reddit.com/r/Superstonk/comments/o99ms3/stay_calm_but_i_think_the_nft_is_now_available_to/). As you can see, the extraction of money from this scam is very easy, as all you have to do is convince the target that they want to purchase your scamcoin.
+
+2.2.3 The Getaway
+
+In this instance, the getaway is simple, as crypto provides both anonymity and irreversibility, so the scammer can simply disappear without anyone ever having known their identity.
+
+3\. Key Takeaways (TLDR)
+
+Be careful when interprating information about the Gamestop NFT, make sure that you can verify that you trust the source of the information. Just because the information is on the official contracts Etherscan page, doesn't mean the information is endorced by Gamestop.
+
+At least one member of the community has been scammed by this scammer, and lost a small amount of money.
+
+Scammers will try many tricks to get you to trust them, and separate you from your money. Don't fall for it, and if in doubt use the four-hour rule. Post on superstonk and give about 4 hours for other members of the community to analyze and sniff out anything suspicious. Remeber, nothing is urgent around here.

Crypto/NFT/2021-07-02-Clarifying-NFTs.md

@@ -0,0 +1,57 @@
+Clarifying NFT's: What they are good for, and what they are not
+===============================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/GooseG17](https://www.reddit.com/user/GooseG17/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oc7ji4/clarifying_nfts_what_they_are_good_for_and_what/) | 
+
+---
+
+[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
+
+Note\
+Etherium is an incorrect spelling. The correct spelling is filtered by automod. Since it is related to GameStop, blocking it is, in my opinion, absurd. Especially since it isn't even the correct name of the currency. For a sub that values open discourse and informed discussion, this is pretty disappointing.
+
+Intro
+
+NFT's have been getting a lot of attention lately due to the GameStop NFT, with a lot of the discussion demonstrating a lack of understanding on what exactly an NFT is and what it can be used for, so I thought I'd help explain some of the technical wizardry that is blockchain and its latest buzzword-craze.
+
+Blockchain
+
+A blockchain is a transactional database (ledger) that is stored and validated by many different computers. Imagine a bank statement that is verified and saved by thousands of different computers. This makes it virtually impossible to fraudulently alter if sufficiently decentralized. There are multiple methods blockchains can use to ensure that the network is decentralized to maintain security. Understanding them is beyond the scope of this post, but the major methods are proof of work and proof of stake. The main one relevant to GameStop is proof of stake, since the network they are using, Etherium, is upgrading to proof of stake in the near future.
+
+Etherium
+
+Etherium differs from the original blockchain design by implementing smart contracts. Smart contracts are computer programs that run on the blockchain, allowing developers to leverage security and reliability of blockchain technology for limitless possibilities. One these use cases are custom assets that do not require their own blockchain, vastly simplifying secure deployment. These are called tokens.
+
+Token
+
+A token is a a term used for user-created coins on the Etherium network, essentially anything that isn't the core currency. Etherium transactions are not free. The cost depends on the relative processing power required to complete the transaction, so keeping programs as simple as possible is important. Which is why there are multiple types of tokens instead of a single all-purpose type. There are two major types:
+
+1.  ERC20\
+    The typical token of the Etherium network. They are *fungible*, meaning every token is entirely identical. Because token ownership is basic to keep track of, only needing the owner address and quantity, usage is simple and each transaction is inexpensive.
+
+2.  ERC721\
+    An alternative to ERC20 tokens that provide greater utility. They are *non-fungible tokens*, so each token has unique identifiers and metadata. An ERC721 token can store many more data fields, making them comparatively expensive to create and transact. They are not a direct replacement for ERC20 tokens, primarily due to the added expense and complexity.
+
+Now that definitions are out of the way, lets get in to what does and does not make sense for GameStop to use an NFT for:
+
+Non-Fungible Token (ERC721) uses:
+
+1.  Collectibles Things like playing cards or in-game items
+
+2.  Licenses/ownership certificates Like video games, for enabling trading of used games
+
+Fungible token (ERC20) uses:
+
+1.  Crypto dividends\
+    Stocks are fungible, so why wouldn't a dividend be too? Not only would an NFT dividend be wasteful, it would also mean that our identical shares wouldn't net us an identical reward, which is completely nonsensical in my opinion.
+
+2.  Stock market shares\
+    If the stock market were to be run on the blockchain, NFT's wouldn't just be wasteful or unfair, they would be completely insane. Storing billions of NFT's (one for every share) instead of thousands of ERC20's (one for each stock) would be vastly more resource intensive for no benefit.
+
+Please let me know if you find a mistake. Criticisms welcome. Thanks for reading!
+
+Smooth-brain simplification edit:
+
+All the pros of a crypto dividend (like GameStop having sole distribution capability) remain with a *fungible* (ERC20) token. A *Non-Fungible Token* (ERC721, NFT) has cons that wouldn't make sense for this purpose.

Crypto/NFT/2021-07-08-One-of-the-Addresses-Associated-with-GameStop-NFT-had-a-Transaction-Today.md

@@ -0,0 +1,44 @@
+One of the addresses associated with the GameStop NFT had a transaction today. Any wrinkle brains able to tell what it was used for?
+====================================================================================================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/clawesome](https://www.reddit.com/user/clawesome/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/ogjbcy/one_of_the_addresses_associated_with_the_gamestop/) | 
+
+---
+
+[etherscan.io/addres...](https://etherscan.io/address/0x10B16eEDe03cF73CbF44e4BFFFa3e6BFf36F1Fad)
+
+[Question ❓](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Question%20%E2%9D%93%22&restrict_sr=1)
+
+---
+
+## Relevant Comment/Answer by [u/nuclear-falcon](https://www.reddit.com/user/nuclear-falcon/)
+
+---
+
+**Official Gamestop NFT Contract "GME NFT":**
+
+0x13374200c29C757FDCc72F15Da98fb94f286d71e
+
+**Was created by "Creator":**
+
+0x10b16eede03cf73cbf44e4bfffa3e6bff36f1fad
+
+"Creator" is the account in question that OP linked.
+
+*Creator is a contract itself!* If you go to the contract's [etherscan page](https://etherscan.io/address/0x10b16eede03cf73cbf44e4bfffa3e6bff36f1fad#readProxyContract) -> Contract -> "Read Contract as Proxy" you can get a little bit of information. The NAME field is "Gnosis Safe" which is a service in the form of a contract to force multiple people in a company to sign off on transactions before they happen, which is how you keep crypto at a company safe. [Here](https://help.gnosis-safe.io/en/articles/3876456-what-is-gnosis-safe) is a brief overview from their website.
+
+If you go to the Creator address, you'll see a transaction from ~8 hours ago and then one that happened ~5 minutes ago (all from the time of writing). The "Events" tab on etherscan allows you to see which functions were executed.
+
+Transaction from ~8 hours ago was to add "Add Owner" function execution. I think this means they added another person who can sign off on transactions.
+
+Transaction from ~5 minutes ago executed 2 functions:
+
+Remove Owner - to Remove a person/wallet from signing off on transactions
+
+Add Owner - same as the one from ~8 hours ago that adds someone
+
+**What I think this means:**
+
+The NFTeam is adding new people who have rights to sign off on transactions with the official GameStop company crypto. This is a security measure that means no single person at the company can control/steal/send crypto to anyone else

Crypto/NFT/2021-07-09-Explanation-of-launchDate-NFT-and-EIP1559.md

@@ -0,0 +1,59 @@
+An explanation of 'launchDate' 7/14 - NFT - EIP1559
+===================================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/Hey_Madie](https://www.reddit.com/user/Hey_Madie/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oh7ugx/an_explanation_of_launchdate_714_nft_eip1559/) | 
+
+---
+
+
+[Education 👨‍🏫 | Data 🔢](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22Education%20%F0%9F%91%A8%E2%80%8D%F0%9F%8F%AB%20%7C%20Data%20%F0%9F%94%A2%22&restrict_sr=1)
+
+To define, the Gamestop NFT had a 'launchDate' field in the code that defined to 7/14/2021. This is/was referencing the now rescheduled Ehtereum network upgrades to EIP-1559. The update will now occur on 8/4/21 at block 12,965,000, between 13:00 UTC and 17:00 UTC.
+
+For the record, they did not indicate or reference an actual release date for the NFT, but they did acknowledge that they want to get it right and they are not taking any shortcuts. So we hold-fast! It'll be worth it!
+
+[![r/Superstonk - An explanation of 'launchDate' 7/14 - NFT - EIP1559](https://preview.redd.it/40ifzxp00aa71.png?width=591&format=png&auto=webp&s=1c07ad34c18c394d28e317761151bf682b65eb88)](https://preview.redd.it/40ifzxp00aa71.png?width=591&format=png&auto=webp&s=1c07ad34c18c394d28e317761151bf682b65eb88)
+
+Ethereum is set to go through a lot of changes in the future, first with the London hardfork introducing EIP-1559.
+
+EIP-1559 is an Ethereum Improvement Proposal that, along with four other EIPs, will signal the start of Ethereum's 'Triple Halvening' event.
+
+[![r/Superstonk - An explanation of 'launchDate' 7/14 - NFT - EIP1559](https://preview.redd.it/jf99luysp9a71.png?width=598&format=png&auto=webp&s=edb0d225f8ed1869dcaa101bd99ef4353db668ab)](https://preview.redd.it/jf99luysp9a71.png?width=598&format=png&auto=webp&s=edb0d225f8ed1869dcaa101bd99ef4353db668ab)
+
+[![r/Superstonk - An explanation of 'launchDate' 7/14 - NFT - EIP1559](https://preview.redd.it/naajapyaw9a71.png?width=680&format=png&auto=webp&s=4aa295886b39a13d02b967b6011d79b4d3fb4a7e)](https://preview.redd.it/naajapyaw9a71.png?width=680&format=png&auto=webp&s=4aa295886b39a13d02b967b6011d79b4d3fb4a7e)
+
+This 'tip' is then given to the Ethereum miner, while the base fee is burned, removing it from circulation. In explaining the reason for this burn, [EIP's authors said](https://eips.ethereum.org/EIPS/eip-1559):
+
+> This ensures that only ETH can ever be used to pay for transactions on Ethereum, cementing the economic value of ETH within the Ethereum platform and reducing risks associated with miner extractable value (MEV). Additionally, this burn counterbalances Ethereum inflation while still giving the block reward and priority fee to miners. Finally, ensuring the miner of a block does not receive the base fee is important because it removes miner incentive to manipulate the fee in order to extract more fees from users.
+
+What Will EIP-1559 Do For Ethereum Miners?
+
+A collection of Ethereum miners and mining pools have voiced their opposition to EIP-1559. This has been collated in the [#STOPEIP1559 petition](https://stopeip1559.org/), led by Flexpool.
+
+Explaining their opposition, the petition states: "[Burning transaction fees] dramatically reduces miners' earnings, people who invested their savings into supporting the Ethereum network."
+
+Advertisement
+
+Given EIP-1559 is yet to launch onto the mainnet, the reward changes for miners are currently only predictions, with the full impact unknown.
+
+Of course, no matter the miners animosity to EIP-1559, this is a smaller change in comparison to the impact Ethereum 2.0 will have. The Eth2 upgrade,[ slated for release in 2022](https://www.gfinityesports.com/cryptocurrency/ethereum-2-release-date-eth2-roadmap-phases-is-ethereum-2-new-coin-serenity/), will see a full shift to [Ethereum staking](https://www.gfinityesports.com/cryptocurrency/ethereum-staking-what-is-it-how-to-stake-Eth2-ethereum-2-staking-rewards/) via a Proof-of-Stake algorithm.
+
+Sources:
+
+[Ethereum EIP-1559: Release Date, Meaning, And What EIP-1559 Will Do For Mining ETH](https://www.gfinityesports.com/cryptocurrency/ethereum-eip-1559-release-date-meaning-fees-london-hardfork-effect-on-mining-eth/)
+
+[Ethereum price gears up for its upcoming 'Triple Halving'](https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-gears-up-for-its-upcoming-triple-halving-202107071339)
+
+[4 Common Misperceptions About Ethereum's EIP 1559 Upgrade](https://www.coindesk.com/4-myths-about-ethereum-eip-1559)
+
+🦍Other community posts pertaining to this subject. 🧠 Together We Are Stronger! 🚀
+
+Post about 1st tweet: <https://www.reddit.com/r/Superstonk/comments/oh5jjc/gamestop_nft_launch_date/>
+
+Post about 2nd clarifying tweet: <https://www.reddit.com/r/Superstonk/comments/oh60ea/gme_nft_developler_clarifies_that_there_is_no_set/>
+
+Post with both tweets and more discussion: <https://www.reddit.com/r/Superstonk/comments/oh613h/finestonematt_on_twitter_about_the_supposed/>
+
+TL;DR: Gamestop Engineers verify that the launch date was referencing the now rescheduled upgrade to the Ethereum network to EIP1559.

Crypto/NFT/Deep-Dive-into-GameStops-NFT-Website-by-schismsaints/2021-07-06-Deep-Dive-into-GameStops-NFT--Website.md

@@ -0,0 +1,144 @@
+A Deep Dive into nft.gamestop.com
+=================================
+
+| Author       | Source       | 
+| :-------------: |:-------------:|
+|  [u/schismsaints](https://www.reddit.com/user/schismsaints/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/of20ou/a_deep_dive_into_nftgamestopcom/) | 
+
+---
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+To start, PLEASE take a look at the graphic as it shows the relationships between the GME tokens a lot more clearly than I've seen anywhere else so far - [GitHub - schismsaints/GME_NFT](https://github.com/schismsaints/GME_NFT)
+
+Like many, I was intrigued when I heard about GameStop dabbling in NFT - first, through the [job postings](https://finance.yahoo.com/news/gamestop-hiring-blockchain-analyst-specializing-075700175.html), then with [nft.gamestop.com](https://nft.gamestop.com/). I did a [brief dive into some of the smart contract details](https://www.reddit.com/r/Superstonk/comments/nkxrhe/umm_guys_i_think_i_just_found_something/gzgpytb/?context=3) back when it initially came out but recently have gone much further down the rabbit hole.
+
+I'll summarize some of the juicier bits and provide some speculation as to what it could mean as well as some resources to familiarize yourself with some of the details of blockchain, smart contracts, and tokens, but I have put together a [larger graphic](https://github.com/schismsaints/GME_NFT) in PNG/PDF/SVG formats visualizing some of the connections a little better (fair warning, I'm an engineer not an artist). I recommend loading it in a full web browser on as large of a monitor as possible. You'll understand why when you see it.
+
+First, a few key terms/concepts.
+
+Blockchain: In very simplistic terms, think of the blockchain as a ledger/record keeping system where each 'block' is a record and linked to the previous and next blocks in a chain. The process of adding a new 'block' involves computing and verifying prior information in the chain to ensure that nothing has been tampered with and that the full history of the chain is intact.
+
+[Blockchain Definition: What You Need to Know (investopedia.com)](https://www.investopedia.com/terms/b/blockchain.asp)
+
+Fungible: "being something (such as money or a commodity) of such a nature that one part or quantity may be replaced by another equal part or quantity in paying a debt or settling an account " (src: dictionary.com)
+
+Token: This is probably the part most people understand, though there are some nuances. There are two types of tokens and a number of differing implementation standards.
+
+-   Fungible Token - ERC-20: A token that is one of a pool of identical tokens. They can be split, transferred, or exchanged and are commonly used as currencies. Most established mainstream or alt- coins fall into this category.
+
+    -   [Cryptocurrency Definition (investopedia.com)](https://www.investopedia.com/terms/c/cryptocurrency.asp)
+
+-   Non-Fungible Token (NFT) - ERC-721/ERC-1155: A non-fungible token is a unique entity on the blockchain. There are no others exactly like it, and it has its own record of ownership, attributes/metadata, and cannot be substituted for another token identically. [CryptoKitties](https://www.cryptokitties.co/) is one of the most popular examples as they basically pioneered the ERC-721 standard. NFT artwork is another recently popularized example of this.
+
+    -   [Non-Fungible Token Definition: Understanding NFTs (investopedia.com)](https://www.investopedia.com/non-fungible-tokens-nft-5115211)
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com](https://preview.redd.it/hj74bjb47n971.png?width=300&format=png&auto=webp&s=b8fcbbce01a45c57fc93680483f9519a470ef057)](https://preview.redd.it/hj74bjb47n971.png?width=300&format=png&auto=webp&s=b8fcbbce01a45c57fc93680483f9519a470ef057)
+
+Non-Fungible Kitties!
+
+Smart Contract: A smart contract is a way to automate 'stuff'. That 'stuff' can be any number of tasks but some of the most common ones include creating (minting) or destroying (burning) tokens from an available pool. This can be fungible or non-fungible tokens (or, in the case of ERC-1155, both/either).
+
+[Smart Contracts Definition (investopedia.com)](https://www.investopedia.com/terms/s/smart-contracts.asp)
+
+The GME NFT story started in earnest with GameOn Anon, the smart contract address posted at [nft.gamestop.com](https://nft.gamestop.com/)
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com](https://preview.redd.it/x352qjj57n971.png?width=268&format=png&auto=webp&s=2c0d1ab1a3a208cd3b86a9dc799603a52463edd0)](https://preview.redd.it/x352qjj57n971.png?width=268&format=png&auto=webp&s=2c0d1ab1a3a208cd3b86a9dc799603a52463edd0)
+
+Power to the Players
+
+[0x13374200c29C757FDCc72F15Da98fb94f286d71e](https://etherscan.io/address/0x13374200c29C757FDCc72F15Da98fb94f286d71e)
+
+There are a lot of interesting threads from the smart contract, the most well known of which is the "launchDate" variable which equals 04:20 PDT 7/14/21 (come on, that can't *not* be intentional).
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com](https://preview.redd.it/bja10vi67n971.png?width=633&format=png&auto=webp&s=a2cb5526b08222b15f4cfb9b8284c5faac57585d)](https://preview.redd.it/bja10vi67n971.png?width=633&format=png&auto=webp&s=a2cb5526b08222b15f4cfb9b8284c5faac57585d)
+
+The [owner](https://etherscan.io/address/0x10b16eede03cf73cbf44e4bfffa3e6bff36f1fad) of the smart contract is also interesting.
+
+It owns the only GME ERC-721 token, 420.69 of the GME ERC-20 token, an E t h e r e u m Name Service record ([gamestopnft](https://etherscan.io/token/0x57f1887a8bf19b14fc0df6fd9b2acc9af147ea85?a=0x10b16eede03cf73cbf44e4bfffa3e6bff36f1fad#inventory)), and the 1337 [email signature](https://etherscan.io/token/0xc9ff785a33f2000652d0336e476a06ccd909317a?a=0x10b16eede03cf73cbf44e4bfffa3e6bff36f1fad#inventory) prefix used for several blockchain constructs.
+
+It also received 0.00001337 E t h e r on 5/25/21 from andrwyng (wut doing Andrew Yang??)
+
+Edit: Not actually Yang - <https://mobile.twitter.com/andrwyng?lang=en> - thanks [/u/No-Information-6100](https://www.reddit.com/u/No-Information-6100/)
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com](https://preview.redd.it/hprlbkr77n971.png?width=759&format=png&auto=webp&s=efef7ea335484ab1cef7f0e86fce04a2602f48f3)](https://preview.redd.it/hprlbkr77n971.png?width=759&format=png&auto=webp&s=efef7ea335484ab1cef7f0e86fce04a2602f48f3)
+
+False alarm, but had me very intrigued when I saw it initially.
+
+There are three GameStop specific tokens they appear to be working with, along with a number (>20) altcoins and other tokens.
+
+-   [GME Coin (ERC-20)](https://etherscan.io/token/0xd4596454a0e145842d1319d6921399e8e1622ad7) - Qty 12,000,000
+
+    -   Possible online store/digital currency? Would be interesting if it functioned similar to a [stablecoin](https://www.investopedia.com/terms/s/stablecoin.asp) pinned to the dollar
+
+-   [GameStop (ERC-20)](https://etherscan.io/token/0x5b7d043ecb3a694069cc01e763159ea1bde0541d) - Qty 69,420,000
+
+    -   They moved a large amount of this (>50%) to [Uniswap](https://en.wikipedia.org/wiki/Uniswap) which in layman's terms can be considered as kind of an escrow/holding/forex account but in the crypto realm. Quite a few have been distributed from here to over 60 different destination addresses.
+
+    -   Yahoo! Finance lists the 'Implied Shares Outstanding' for GME as 69.38M, which is preeeeeetty close to the 69.42M tokens minted here. Could this be used as a shareholder dividend, potentially exchangeable between GameStop and GME Coin/USD?
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com](https://preview.redd.it/qm9w71ba7n971.png?width=336&format=png&auto=webp&s=8d3b8613f980d06adf1f2a7eca4bcfe792081704)](https://preview.redd.it/qm9w71ba7n971.png?width=336&format=png&auto=webp&s=8d3b8613f980d06adf1f2a7eca4bcfe792081704)
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com](https://preview.redd.it/0jexo0qa7n971.png?width=1334&format=png&auto=webp&s=6f5ab609573617f84a25e54a5df67ff3a7a295cd)](https://preview.redd.it/0jexo0qa7n971.png?width=1334&format=png&auto=webp&s=6f5ab609573617f84a25e54a5df67ff3a7a295cd)
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com](https://preview.redd.it/yppy9h3b7n971.png?width=1347&format=png&auto=webp&s=fdeece7225eafafb264cfc3a3beb0e0e458a0573)](https://preview.redd.it/yppy9h3b7n971.png?width=1347&format=png&auto=webp&s=fdeece7225eafafb264cfc3a3beb0e0e458a0573)
+
+-   [Gamestop (ERC-721)](https://etherscan.io/address/0x13374200c29C757FDCc72F15Da98fb94f286d71e) - Qty 1
+
+    -   There is only one of these in existence at this point with no clear use for it yet, but there are some interesting possibilities I've considered such as blockchain-based share tracking (i.e. each NFT would have a 'share # X' value on it) or as a shareholder ID token ('shareholder # X'). This one has the least clear forward looking use case at this point for me.
+
+Possible Business Uses
+
+-   In-store currency - GME Coin can be used as an in-store currency/reward system
+
+-   Crypto swap/exchange - Partner with an established cryptocurrency company to facilitate listing and conversion/exchange between stablecoins such as USDC or miscellaneous established coins or altcoins, and GME specific tokens. Use a GME app to manage a crypto wallet and exchange between various tokens/coins/currencies.
+
+-   NFT Collectibles - i.e. CryptoKitties, Gods Unchained, etc. Facilitate in-person trading (either in-store or via app to app trading) of digital items and collectibles between platforms.
+
+-   Digital game licensing - revolutionize DRM by hosting a record of your game license on the blockchain
+
+-   In-game item transfer/entitlement - Imagine if there was a way to trade/sell your CounterStrike skins in-person for cash, or exchange a cool knife skin for a new CryptoKitty
+
+Possible Shareholder Uses
+
+-   Shareholder record keeping - have a token proving your status as a shareholder
+
+-   Share/securities record keeping - similar, but for shares. Kind of a stretch but could be a proof of concept for blockchain based trading
+
+-   Crypto Dividend - Provide GameStop (ERC-20) tokens, even fractional ones, as a shareholder dividend. Allow conversion to USD or GMECoin/USD to cash out. Provide a way to purchase or 'auction' GameStop tokens and you now have a shareholder perk with monetary value that could appreciate over time.
+
+Here's the PDF of the chart/diagram I put together, the github link also has PNG and SVG versions of the image.
+
+[GME_NFT/GME_NFT.pdf at main - schismsaints/GME_NFT - GitHub](https://github.com/schismsaints/GME_NFT/blob/main/GME_NFT.pdf)
+
+TL:DR; GME doing crypto stuff. Lots of crypto stuff happening especially in the last week. Crypto stuff has lots of options, most of which will print money.
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com](https://preview.redd.it/m98p6jtc7n971.png?width=492&format=png&auto=webp&s=28d229a20045e33ea3b43ab8b8557830a0970a25)](https://preview.redd.it/m98p6jtc7n971.png?width=492&format=png&auto=webp&s=28d229a20045e33ea3b43ab8b8557830a0970a25)
+
+I like money
+
+Edit: to answer a good point brought up by [/u/haydonny1](https://www.reddit.com/u/haydonny1/) in the previous thread before I screwed it up with this edit :( - the alt coins could be sent by any random source and aren't concrete proof of anything. I still maintain that the three GME tokens are legitimate and all have ties back to the original Smart Contract either one or two levels removed. I haven't investigated the altcoin sources enough to be able to say whether or not they're being worked on by GME at this point.
+
+0x13374200c29C757FDCc72F15Da98fb94f286d71e
+
+-   Is the address posted on [nft.gamestop.com](https://nft.gamestop.com/)
+
+-   Owns 69,420.69 GameStop ERC-20 tokens
+
+-   Owns 2,000,000 GME Coin ERC-20 tokens
+
+0x10B16eEDe03cF73CbF44e4BFFFa3e6BFf36F1Fad
+
+-   Is the Smart Contract address listed in the source code of the [nft.gamestop.com](https://nft.gamestop.com/) smart contract.
+
+-   Holds 1 Gamestop ERC-721 token
+
+-   Holds 420.69 GameStop ERC-20 tokens
+
+-   Holds gamestopnft.e t h and 1337 ERC-721 tokens
+
+Double Edit: I'm seeing a lot of debate about the ERC-20 GameStop token and whether it's related to a scam site (game-coin or something, I think it's been pulled down and I can't find an archive now). At this point after digging multiple levels deep, I'm seeing a lot of conflicting information in the transaction logs and Uniswap destinations and I can't definitively say whether it's a scam or legit. I'm working on updating the graphic and will include a disclaimer, though I do still want to keep it in the picture until we can definitively rule it in or out.
+
+Big thanks to [/u/HandyBananaMan](https://www.reddit.com/u/HandyBananaMan/), [/u/Peteszahh](https://www.reddit.com/u/Peteszahh/), [/u/EngineeringDude2017](https://www.reddit.com/u/EngineeringDude2017/) and others for their discussion and links to other resources. I have more work to do.
+
+I'd hope it should go without saying, but don't buy a GME token on something that's not a GME app :)

Crypto/NFT/Deep-Dive-into-GameStops-NFT-Website-by-schismsaints/2021-07-09-Deep-Dive-into-GameStops-NFT-Website-Part-II.md

@@ -0,0 +1,99 @@
+A Deep Dive into nft.gamestop.com - Part 2: Electric Boogaloo
+=============================================================
+
+| Author      | Source | 
+|  :----:     |    :----:   |        
+| [u/schismsaints](https://www.reddit.com/user/schismsaints/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/oh0zfe/a_deep_dive_into_nftgamestopcom_part_2_electric/) |
+
+---
+
+
+[DD 👨‍🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com - Part 2: Electric Boogaloo](https://preview.redd.it/lzsb9ky2h7a71.png?width=225&format=png&auto=webp&s=8d709e3952f111fa21f696a57a2c7a0104475412)](https://preview.redd.it/lzsb9ky2h7a71.png?width=225&format=png&auto=webp&s=8d709e3952f111fa21f696a57a2c7a0104475412)
+
+Hi, I'm Troy McClu...err, /u/schismsaints
+
+You might remember me from my reddit hits such as "Why does AutoMod hate everything I do?", or [my most recent post from a couple of days ago](https://www.reddit.com/r/Superstonk/comments/of20ou/a_deep_dive_into_nftgamestopcom/).
+
+I wanted to update my previous DD with some recent findings, clearing up a few points as well as expanding on the research I've done thus far. As before, you can find the current DD image in multiple formats here at my GitHub repo - <https://github.com/schismsaints/GME_NFT>
+
+To start, if you aren't familiar with basic blockchain concepts, [my previous post](https://www.reddit.com/r/Superstonk/comments/of20ou/a_deep_dive_into_nftgamestopcom/) and [this one](https://www.reddit.com/r/Superstonk/comments/ofndb0/a_crypto_dive_with_the_jellyfish_10_things_about) from [/u/Dismal-Jellyfish](https://www.reddit.com/u/Dismal-Jellyfish/) (seriously, it's well worth a read) will help get you up to speed on the different token types, smart contracts, and other general blockchain concepts.
+
+An Update on GME Tokens
+
+-   [ERC-20 GameStop.finance scam token](https://etherscan.io/token/0x9eb6be354d88fd88795a04de899a57a77c545590) - Obvious scam is obvious, but finding this token gave me a link to be able to more conclusively debunk the 69,420,000 ERC-20 token
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com - Part 2: Electric Boogaloo](https://preview.redd.it/tcf7cmqnr7a71.png?width=256&format=png&auto=webp&s=c4e2a7928d64cbbfc523ab59b7ade084dba3eef4)](https://preview.redd.it/tcf7cmqnr7a71.png?width=256&format=png&auto=webp&s=c4e2a7928d64cbbfc523ab59b7ade084dba3eef4)
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com - Part 2: Electric Boogaloo](https://preview.redd.it/ami03a1ur7a71.png?width=249&format=png&auto=webp&s=72c594892dfb607b865f03f9ef8f28755837fe9d)](https://preview.redd.it/ami03a1ur7a71.png?width=249&format=png&auto=webp&s=72c594892dfb607b865f03f9ef8f28755837fe9d)
+
+"The missing link"
+
+-   [ERC-20 GME GameStop Token](https://etherscan.io/token/0x5b7d043ecb3a694069cc01e763159ea1bde0541d) - Thanks to several of the commenters on my last post(s), I went through a deeper dive into the ERC-20 GME ('fake 1337420' address) token and agree that it is likely a scam.
+
+    -   The two most solid pieces of evidence identifying the scam are:
+
+        -   [0xfoobar directly disputing its validity](https://twitter.com/0xfoobar/status/1409740353738096641?s=21)
+
+        -   [More than one address holding the confirmed scam token as well as this one](https://etherscan.io/tokenholdings?a=0xfb5484a510c48c307fd0253ee4d0a0866950f9a3)
+
+    -   [There is one address](https://etherscan.io/address/0x7f8c1877ed0da352f78be4fe4cda58bb804a30df) which has ties to some potentially relevant blockchain companies (Cudo primarily) that had me doubting early on whether it was a scam, but on further research I've found a lot of links to Nigeria, Dubai, etc which, while not red flags in and of themselves, certainly don't line up with GameStop corporate hiring their own domestic blockchain team.
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com - Part 2: Electric Boogaloo](https://preview.redd.it/1wimkjrp48a71.png?width=738&format=png&auto=webp&s=313c9516cfef292f5a4570e971a292ddce3810f7)](https://preview.redd.it/1wimkjrp48a71.png?width=738&format=png&auto=webp&s=313c9516cfef292f5a4570e971a292ddce3810f7)
+
+Largest single GME ERC-20 Token holder address
+
+-   [ERC-20 GME Coin Token](https://etherscan.io/token/0xd4596454a0e145842d1319d6921399e8e1622ad7) - I have identified [an external account](https://etherscan.io/address/0x503828976d22510aad0201ac7ec88293211d23da) involved in funding the GME Coin address, but the trail went cold after that. I can't confirm or deny that it is legitimate at this point; in either event, whoever created it went through more effort to hide their tracks than the other tokens. It does not appear to have been sold/swapped anywhere as of yet.
+
+-   [ERC-721 GME GameStop Token ("The One and Only")](https://etherscan.io/token/0x13374200c29C757FDCc72F15Da98fb94f286d71e) - I suspect this will be the only one of its kind minted, either as a teaser or POC token for further NFT work.
+
+    -   One interesting possibility came to mind that - while not a crypto dividend per-se - could still have some interesting applications to securities exchanges or implications for the MOASS. Caution: Speculation/theorycrafting inbound
+
+        -   Consider the scenario involved with shareholder voting, where each shareholder receives a control number on each brokerage where they hold shares. Each control number is associated with the number of shares held at a point in time snapshot.
+
+        -   With ERC-721 or ERC-1155, a unique NFT could be minted for each shareholder/control number. The number of shares associated with each NFT could either be held in an external DB or as metadata (a field on the token itself).
+
+        -   This would create a public record of the number of shares held by individual shareholders at a point in time and could be updated on an annual basis (or more frequently if desired) in line with shareholder voting standards.
+
+        -   This also avoids the 'crypto dividend' hangups associated with Overstock as there isn't any money involved nor is there any way this method could prevent legitimate short selling - it's merely a public ledger of shares in circulation.
+
+    -   Alternatively, if they do a crypto coin dividend instead of a crypto stock dividend like Overstock, presumably they wouldn't place the same restrictions on selling which was the main point of contention in the Overstock case as I understand it. See below for some reading on Overstock.
+
+        -   <https://realmoney.thestreet.com/investing/stocks/overstock-is-paying-a-digital-dividend-and-it-gets-really-interesting-now-15037958>
+
+        -   <https://www.irmagazine.com/technology-social-media/how-overstock-used-blockchain-distribute-its-digital-dividend>
+
+[/u/No-Fox-1400](https://www.reddit.com/u/No-Fox-1400/) has a lot of the same thoughts I do in his posts here:
+
+-   <https://www.reddit.com/r/Superstonk/comments/ofiev4/the_man_with_the_plan/>
+
+    -   The timeline here including Overstock was an excellent read, but the part I really want to call out is this
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com - Part 2: Electric Boogaloo](https://preview.redd.it/olsculkf38a71.png?width=678&format=png&auto=webp&s=dbdaefd50c398f333896a14a204bafaa79334fd2)](https://preview.redd.it/olsculkf38a71.png?width=678&format=png&auto=webp&s=dbdaefd50c398f333896a14a204bafaa79334fd2)
+
+This is in line with my thoughts on timing - NFT platform launch on 7/14, announcement of dividend/crypto play on 7/14, and record date for a crypto based dividend on 7/24
+
+-   And here: <https://www.reddit.com/r/Superstonk/comments/ocvqlp/the_rules_dont_matter/>
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com - Part 2: Electric Boogaloo](https://preview.redd.it/89f8rnnw38a71.png?width=692&format=png&auto=webp&s=edc369dbfdb253baf183cdf837c9f725610a5a58)](https://preview.redd.it/89f8rnnw38a71.png?width=692&format=png&auto=webp&s=edc369dbfdb253baf183cdf837c9f725610a5a58)
+
+Recent Activity
+
+[/u/clawesome](https://www.reddit.com/u/clawesome/) and [/u/nuclear-falcon](https://www.reddit.com/u/nuclear-falcon/) noticed some recent activity on the original smart contract here
+
+<https://www.reddit.com/r/Superstonk/comments/ogjbcy/one_of_the_addresses_associated_with_the_gamestop/>
+
+I've drawn out these relations on the long format diagram, shown below
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com - Part 2: Electric Boogaloo](https://preview.redd.it/507nrqd258a71.png?width=530&format=png&auto=webp&s=26992c61f9346de0a90cc46bea65c17011018810)](https://preview.redd.it/507nrqd258a71.png?width=530&format=png&auto=webp&s=26992c61f9346de0a90cc46bea65c17011018810)
+
+Adding approving parties/other devs to the owner/approval list
+
+Huge credit to [/u/HandyBananaMan](https://www.reddit.com/u/HandyBananaMan/) for being almost as obsessed with the transaction logs as me and pointing me toward several bread crumbs along the way.
+
+TL:DR; Buy, Hold, Buckle Up. GME Blockchain team hard at work to bring us something mind blowing. I expect that *even if* a crypto dividend does not materialize, the [nft.gamestop.com](https://nft.gamestop.com/) project will be revolutionary and will function as a large catalyst for price movement regardless of a dividend play.
+
+[![r/Superstonk - A Deep Dive into nft.gamestop.com - Part 2: Electric Boogaloo](https://preview.redd.it/i09xoc4e78a71.png?width=4808&format=png&auto=webp&s=03f646219e746517c83364692af14e96180906d6)](https://preview.redd.it/i09xoc4e78a71.png?width=4808&format=png&auto=webp&s=03f646219e746517c83364692af14e96180906d6)
+
+This is the PNG format of the diagram here for convenience, but the current version is always on my GitHub repo.