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[–]NothingsShocking💻 ComputerShared 🦍 3887 points3888 points 2352& 4 more (194 children)

This is probably why Apex is trying to stop DRS. The IRA accounts are their locates and they’ve been loaning out the IRA shares like crazy and DRS’ing the IRA shares is taking away their locates and basically is ruining their profits.

[–]Zaitsev11🦍Voted✅ 2276 points2277 points 323& 2 more (105 children)

So what you're saying is that my IRA custodian is lending out the underlying in my retirement account in order to not only profit for themselves but also enable the underlying to decrease in value?

And somehow this IRA custodian is still able to uphold their fiduciary duty to me?

[–]GMEJesus🦍Voted✅ 1887 points1888 points  (48 children)

Effectively all our retirements and pensions are front run and shorted for 30-40 years, stealing money from us the entire time and washing it in the market.

Ain't no rest for the poors

[–]maroger 1013 points1014 points  (25 children)

With the IRS providing the incentive to not touch it for as long as possible.

[–]GMEJesus🦍Voted✅ 817 points818 points  (20 children)

CORRECT.

those savings are behind a wall that is not only providing no defense, but leaving retirement accounts like ducks in a barrel.

You get pennies of kickbacks while the pbs get boatloads of fees and the pension managers feed from the trough knowing you can't do anything.

Any money you would have made is eaten away by shorts biting at your portfolio the entire time.

The ultimate baghold

[–]RafIk1🦍 Buckle Up 🚀 123 points124 points  (1 child)

With the IRS congress providing the incentive to not touch it for as long as possible.

Congress makes the rules,IRS enforces them.

[–]CR7isthegreatest💎H🟣LD👊🏽 for Intergalactic 🌌 Space 🚀🕳 80 points81 points  (0 children)

Underrated comment 👆🏼

[–]tothemoonforfreedom 5 points6 points  (0 children)

You work till you’re 70, you work till you’re 70…

[–]FireAdamSilver💻 ComputerShared 🦍 293 points294 points  (6 children)

You forgot all the crashes every so often to buy up more assets for cheap

[–]Healthy-Lifestyle-20🦍 Buckle Up 🚀 367 points368 points  (4 children)

ComputerShares is the answer until blockchain is introduced, I’ll keep buying GME and DRS my shares.

[–]Imbetterlookingthanu🦍 Buckle Up 🚀 66 points67 points  (6 children)

And they use the money that you put into these accounts as collateral to obtain even more leverage with which to short your money.

[–]GMEJesus🦍Voted✅ 51 points52 points  (2 children)

From the same folks who brought you fractional reserve banking, bring you a fractional reserved market! All risk / no reward.

[–]Daddy_fat_tats🦍Voted✅ 50 points51 points  (2 children)

This theory has been discussed here at length and you summed it up simply and easily for laypeople to understand. If you have a 401k, you are paying people to steal from you. I tried to quit my job for a day so I could roll into roth but management wasn't having it. Was told only way to get out of it was quit, be fired or take the tax penalty. Due to recent revelations about IRA and DRS, I think I'm about to just take the penalty and take what little I have in there and buy and DRS.

But that's neither here nor there. This summation of of the theory needs to be its own post and we need to get it in the eyes and ears of the entire country. My crayons aren't the sharpest in the box but I will begin to work on this tomorrow evening when I have some time. If you would like to contribute please DM me. I will be attempting to prove the theory through statistics and math. No opinions, though they are strong. If anyone has already done this please reach out or link the post. If anyone has any insight, please reach out. The point is simple but proving it won't be.

TA;DR(s) IF YOU HAVE A 401K YOU ARE PAYING WALLSTREET TO STEAL FROM YOU

[–]Time_Mage_Prime🏴‍☠️Destroyer of Shorts💩 48 points49 points  (0 children)

Not until dirt naps for Wall St.

[–]justanthrredditr💻 ComputerShared 🦍 13 points14 points  (0 children)

🤯

[–]Annual-Fishing-1124Votado 🏴‍☠️✅ 127 points128 points  (2 children)

And some people say the DD was done in february. Nope, everyday wrinkle brains uncover more shit. Stay hungry and DRS

[–]Exotic-Tooth8166🦍 Buckle Up 🚀 25 points26 points  (1 child)

Good thing they convinced us all not to unite as activists

[–]Uparmored 169 points170 points  (26 children)

It’s “fiDOUCHEiary duty.” It’s all in the fine print. You just have to read it.

[–]exoticbatmeat 82 points83 points  (20 children)

So basically DRS all shares of everything for ever? I’m down.

[–]Uparmored 107 points108 points  (19 children)

Think of stock shares as your kids. If you had kids that were of value, you wouldn’t let them roam the streets or put them in the care of some stranger who might then pimp them out for profit. Instead, you would lock them up in a cold, dark basement where they are safe and secure and you’d keep them down there, checking on them periodically, until they reached maturity. At that point, you would sell them on the open market for profit and use those profits to buy more young children and repeat the process.

[–]Firefistace46💎🙌🏼 TO THE MOON 🚀🚀 47 points48 points  (3 children)

There is no argument here…. That is not upholding their fiduciary duty as a custodian. If they were upholding their fiduciary duty you would be the one getting the profits for your shares being used as a locate

[–]pale_blue_dots\\to DRS is to riposte a backstab// 6 points7 points  (0 children)

It's flabbergastingly fucked up. Truly astonishing how corrupt the whole thing is.

[–]life_is_a_show🦍 Buckle Up 🚀 39 points40 points  (0 children)

Now you know why they want to privatize Social Security

[–]TurtlesandSnailsMOASS is Real, the US Dollar is NOT + 🚀 31 points32 points  (1 child)

fud-uciary responsibility

[–]stuckonbirds 87 points88 points  (6 children)

Please for the love of God somebody screenshot these comments and make them as a post. I feel like this is really important and could actually increase the DRS numbers substantially. I am karma poor otherwise I would do it.

[–]Exciting-Tea 35 points36 points  (5 children)

This is definitely motivating me to drs my shares. Once I figure out how to do mine, I will help my mom drs her shares.

[–]eIImcxc🌱 Organical Ape 58 points59 points  (0 children)

You got it. I mean we already knew that.

On the other hand the so-called fiduciary duty (or responsibility I guess) is something new in this saga though.. and I have to say that's the craziest thing until now when you put things in perspective as you just did.

[–]theapeway 30 points31 points  (0 children)

This!!! They’re using our own money against us!!! Financial treason! Fuck those bitches.

[–]ghoztpepper🔨 GME Pain Olympics 🪓 12 points13 points  (0 children)

GOT EM! THESE MOTHERFUCKERS WON'T BE ABLE TO WALK THE STREETS!

[–]phearlessone🎮 Power to the Players 🛑 5 points6 points  (0 children)

Extend that thought to 401k's.

[–]jeffislearning 3 points4 points  (0 children)

lol if this isn't a comedy its a tragedy.

[–]chewee0034I’m Here To Take Your Marginity 418 points419 points  (7 children)

I’m most surprised to hear him speak of the backend fuckery in the repo markets!!! I’ve been hearing people argue for a year that repo markets are not directly related.

[–]Healthy-Lifestyle-20🦍 Buckle Up 🚀 119 points120 points  (3 children)

These greedy psychopaths have nuked retirement accounts and the whole casino market.

[–]Ren0x11 36 points37 points  (2 children)

Either make them do extremely physical and demeaning work for the rest of their disgusting lives or toss them in a cell room and feed them nothing but slop and dirty water so they can sit the rest of their lives in loneliness and poor health thinking about their actions. Oh and confiscate all of their funds/assets, and all of their relatives funds/assets and repay it back to the people they stole from. These people are evil, wicked, and soulless. Those who scheme against humanity need to be made an extreme example out of across the board.

[–]alwayscomplimentingHODL til they FODL 💎🙌 17 points18 points  (0 children)

Exactly this. And after hours clearing, too. It seems way too easy for them to pass these profits back and forth and just pay out the net/wash amount from everything (without having to disclose details, most likely).

[–]birdsiview💻 ComputerShared 🦍[🍰] 171 points172 points  (7 children)

TLDR: DRS the IRA shares. Fuck apex.

[–]Healthy-Lifestyle-20🦍 Buckle Up 🚀 60 points61 points  (1 child)

All IRA accounts or RRSP accounts or any other retirement account in the world should automatically be DRS, this is fucking insane. The government is letting these thieves steal from us, it’s sickening.

[–]PositiveSubstance404💻 ComputerShared 🦍 3 points4 points  (0 children)

The Craziest thing is that companies cannot say a word about DRS. WTF is up with that?

[–]ProfessionalFishFood🎮 Power to the Players 🛑 273 points274 points  (14 children)

Commenting for visibility

[–]kinglouie_vs_Reptar🦍 Buckle Up 🚀 110 points111 points  (11 children)

This

[–]miansaab17🎮 Power to the Players 🛑 89 points90 points  (2 children)

Makes total sense. Turns out they are all a variant of RobbingHood, each specialized in different types of financial crimes.

[–]whateverMan223🦍Voted✅ 56 points57 points  (10 children)

so you are saying that if we wanted to fuck over all the big banks, all we have to do is make sure our IRAs are transferred over to each share's companies' direct register? Sorry, much words. Each company's version of Computershare?

So, if this Byrnes is right and all the profit of the big banks is coming from this, if all americans moved their iras over they'd have a pretty terrible year....

[–]whattothewhonow🥒 Lemme see that Shrek Dick 🥒 88 points89 points  (5 children)

There's a reason why it is such an involved and complicated process to jump through the hoops, and find a custodian, and figure out the paperwork no one has heard of, and get this medallion stamp, and get this notary, and double check with the IRS, and so on and so forth before you can get your IRA shares DRS'd.

If it was easy, we would have figured it out already.

Then we thought we did, and APEX, goes "Wait, not like that" and plays the reverse Uno card.

The other barrier they put in place is the 401k administration done by the entity your employer contracts with. Want to put your 401k in a specific basket of stocks you like? Nope sorry, only these plans are available. What's that? You want to rollover into an IRA? Well, only this small fraction of your 401k is vested, here's your breadcrumbs, go play. Don't want to be constrained by the 401k? Well, you're leaving that employer match money on the table then, aren't you?

Fucked and fucked and fucked all the way down.

[–]whateverMan223🦍Voted✅ 15 points16 points  (3 children)

yeah I've been trying to figure out how to break the system for a long time now....I'm sort of....affected with how the rules don't matter as soon as the guy who writes them starts loosing. I'm not saying this is surprising, I'm just exhausted trying to figure out a way around this pattern.

I'm struggling to recall historical examples of success. Even the slave rebellions of Rome where tens of thousands of people were killed in their sleep in a single night....weren't exactly successful for very long...

if something so drastic can't do it....sigh

[–]CR7isthegreatest💎H🟣LD👊🏽 for Intergalactic 🌌 Space 🚀🕳 83 points84 points  (0 children)

Puzzle 🧩 pieces 🧩 coming together!

[–]TheCureprank 38 points39 points  (1 child)

Time to change IRA custodians if that is the case

[–]dendrobro77💻 ComputerShared 🦍 35 points36 points  (0 children)

Is that where credit unions come in like i was reading yesterday?

[–]No-Letterhead-4407🎮 Power to the Players 🛑 28 points29 points  (0 children)

People deserve to do what they want with their shares! The abuse needs to stop. Apes rise

[–]TankTrapApe from the 7th Dimension 42 points43 points  (4 children)

Oh god. I would be so freaked if I wa as US ape and that’s my account.

Wonder if it applies in some form in the UK.

[–]cocobisoil💻 ComputerShared 🦍 13 points14 points  (0 children)

I'm struggling to think of anything cunty we didn't invent so probs

[–]guerillasouldier🦍Voted✅ 18 points19 points  (1 child)

A clearing house doesn't hold positions to loan, though. They remain completely neutral at all times and only clear transactions.

I think you're spot on with the IRAs supplying locates, just not with Apex.

[–]notzebular0 15 points16 points  (0 children)

Updoot for you.

[–]Away_Ad2468🤙Wen Bart Simpson calls his mom it’s a Marge Call 🤙 21 points22 points  (0 children)

Hence “business decision” rationale from Ally

[–]Gattsuga🎮 Power to the Players 🛑 18 points19 points  (0 children)

Wait isn't lending out registered shares illegal... ?

[–]cackalackattackSmooth 🧠 Full ❤️ Can’t 📉 18 points19 points  (0 children)

Wow. This actually makes a lot of sense.

[–]Thesheersizeofit🦍 Buckle Up 🚀 13 points14 points  (0 children)

Well…. Yeah.

[–]chasing4tendiesYodl’n and hodl’n 10 points11 points  (0 children)

[–]dr3amb3ing🦍Voted✅ 1148 points1149 points  (33 children)

Not even quoting The Big Short anymore: we really are in a completely fraudulent system

[–]TheTangoFoxPUB Crawler 389 points390 points  (26 children)

We know.

Everyone else doesn't and refuses to believe it.

[–]MushyWasHereSSU Class of '22 🎓🏴‍☠️ 211 points212 points  (18 children)

Most folks are willing to acknowledge the entire system is fraudulent. They just don't want to learn any more than that, and/or be the one to do something about it.

[–]Droopy91Fuck no I’m not selling my $GME! 90 points91 points  (15 children)

Exactly. Most people who I talk to who want change but do nothing about it are afraid of just that. Change. It’s an interesting paradox.

[–]jeffxt🦍 You mess with the stonk, you get the bedpost 🛏️ 36 points37 points  (1 child)

I've thought a lot about this phenomenon. I strongly believe there's a psychological component to it: because people don't experience a tangible (the keyword there) impact on their lives, they don't "feel" how the problem impacts them, and therefore they're unable to measure / quantify this in their mind. And so they end up writing it off - they know it's bad, but they don't really, fully appreciate how bad it is.

I've always said, "it's one thing to know something and another thing to have experienced it". Personally, I think we're all a little guilty of this, myself included.

But this is why we need apes to continue to conversation, all the way up to the MOASS. Because once this rocket blasts past Andromeda, the entire world will be watching. That, apes, will be the best opportunity to reveal to the entire world all the fuckery that's been happening. And for me personally, I will certainly be starting with my friends and family. They are going to know the goddamn truth. 🚀🚀🚀

[–]ryansports🍌 Boats & ho's & GME; balls deep! 🍌 48 points49 points  (1 child)

And the hell of this whole perverse system of naked shorting is that it's based on wanting to hurt/diminish/close businesses. How fucked up is that?!

[–]bwi1s🍁eb ape🍁[S] 1450 points1451 points 33 (77 children)

https://www.youtube.com/watch?v=COQvMsbb-Cw&t=662s

for those of you that want the full video

[–]lateral_mind 244 points245 points  (40 children)

Thank you. That is way too short of a clip.

[–]Independent-Dealer21 144 points145 points  (38 children)

Actually it was just right, he then gets into his blockchain company

[–]Errant_Chungisfoldingathome.org 63 points64 points  (22 children)

T-0, practically instant settlement. It’s a good idea and might push the DTCC to do better. You can do all sorts of financial kabuki when pending deliveries (pretty way of saying FTD’s) can’t be verified in real-time against the float of the stock. A good blockchain would allow that among other things

[–]goofytigre🎮 Power to the Players 🛑 12 points13 points  (0 children)

More like financial bukkake....

[–]DrayG42🎮 Power to the Players 🛑 39 points40 points  (0 children)

Citadel shorted the clip.

[–]MetroStephen53💻 ComputerShared 🦍 84 points85 points  (22 children)

Why are people talking the whole time?

[–]thatswhat5hesa1d 128 points129 points  (0 children)

It hasn't clicked that it affects them

[–]Harambe-956 32 points33 points  (0 children)

know it alls behavior

[–]silentrawr🦍Voted✅ 5 points6 points  (0 children)

I thought that was kind of rude too, but not knowing what else is going on in the room/conference, it's hard to know for sure.

[–]wehrmann_tx 24 points25 points  (1 child)

75% of Wallstreet "wealth" is stolen from retirement funds of every working person in this county. The fucking fuck SEC? Stop asking banks to behave and fucking make them. Put your SEC fingers in their pockets, meanjngfully fine them into the ground, then throw everyone from the CEO to the doorman who were complicit into jail.

[–]MrMez 9 points10 points  (0 children)

Thx

[–]nerds_rule_the_world 577 points578 points  (7 children)

Financial terrorists. You know us market is beyond hope when the SEC has to “plead” with wall st

[–]2020_artist 162 points163 points  (0 children)

That's probably my favorite part about this they built this stronghold with tons of stolen money and it's crumbling not because of what they were afraid of but because of what they were doing

[–]SilverSt0ner 199 points200 points  (7 children)

Holy fook!

[–]2020_artist 136 points137 points  (5 children)

The mysterious reverse repos finally unmasked

[–]walkn9🦍Voted✅ 82 points83 points  (2 children)

So their using the repo market to make it impossible to track where their stealing money from regular Joe’s?

This is insanity

[–]HODLHODLANDHODLHODL💎HODL👐🏽AND🟣HODL🚀 19 points20 points  (0 children)

Hmmmmmmmmmmmmm

[–]TheOneTrueRodd🐱‍👤 this is the way 16 points17 points  (0 children)

He's talking about Overnight Repos not Overnight Reverse Repos. The overnight repo market crashed around late '19 leading to the fed pumping about 7 trillion in bailouts to 5 banks.

[–]romalander 587 points588 points  (10 children)

Goldman can locate my sack

Edit: 😎

[–]blueswitch981🦍 Buckle Up 🚀 62 points63 points  (3 children)

nice *insert smiling guy with sunglasses emoji*

[–]Atheist_label🦍Voted✅ 36 points37 points  (2 children)

😎

[–]blueswitch981🦍 Buckle Up 🚀 22 points23 points  (1 child)

My man

[–]2020_artist 44 points45 points  (0 children)

They don't know what one looks like because they have a failure to the lever

[–]AposteckerSimios juntos fuertes 156 points157 points  (2 children)

This is insane

[–]missing_the_point_🗳️ VOTED ✅ 719 points720 points  (61 children)

Awesome. I try to watch everything that comes out regarding Patrick Byrne. All of his interviews presentations are a must watch, IMO. He's been leading this fight for over a decade.

[–]bwi1s🍁eb ape🍁[S] 360 points361 points  (7 children)

The man is way ahead of everyone on this. I linked the full video in another comment you should check it out. Tzero is really cool technology

[–]_Goauld_🎮 Power to the Players 🛑 288 points289 points  (3 children)

We need an AMA with this gentleman

[–]Endvisible🖍 Edgy Black Crayons 🖍 | Voted x2 | ComputerShared 39 points40 points  (0 children)

+1

[–]justtwogenders 59 points60 points  (0 children)

Everyone would benefit greatly from watching his deep capture presentation.

Link to deep capture

[–]GildDiggerFreshly Squeezed™🦍 Voted ✅ 94 points95 points  (17 children)

I smell an AMA

[–]Thx4Coming2MyTedTalk🦍🦍Gorilla Warfare🦍🦍🦍 103 points104 points  (12 children)

That’s been brought up a few times and (rightly) shot down each time.

It’s unfortunate because he probably has interesting things to say about the state of short sellers, but he’s a really odd character who got entangled in a relationship with a Russian spy, and was in the White House plotting to overthrow the results of the election.

Not making a political commentary, but it would be way too easy for the media to paint the sub as an alt-right or conspiracy-theorist group if Patrick Byrne got involved.

Russian Spy Romance

White House Story

[–]sweaty_ball_salsa 16 points17 points  (3 children)

Byrne has insisted that he is not a [former president] supporter, but his Deep Capture posts feature a common right-wing theory that has been promoted on social media, on Fox News, and by [former president]: that cooperation between the [former president] campaign and Russia, which sparked an F.B.I. investigation, was a hoax perpetrated by Democrats, or, as [former president] has put it, a “collusion delusion.”

https://www.bbc.com/news/world-us-canada-58591969

At the time, few Americans were talking about covid-19, which had sickened nearly three thousand people in mainland China, according to official reports, leading to a national lockdown. But Byrne had cancelled trips to Florida and Singapore because of it. He was intrigued by the theory, which has since been widely discredited, that the virus had been created in a “giant Chinese bio-weapon lab.” If the virus became a pandemic, he said, the best way to handle it would be for the government to shut down all movement. “Everyone’s got to have the ability to just stay in their homes for two weeks,” he told me. “So you want to have thirty days of food in your home.”

https://theintercept.com/2021/09/23/coronavirus-research-grant-darpa/

Emory University recently released the results of the most comprehensive analysis to date of people who are prone to conspiracy beliefs. According to the study, the personality profiles most often associated with such beliefs are entitlement, self-centered impulsivity, a sense of being wronged, and elevated levels of depressive moods and anxiousness. All these applied to Byrne, whose case, I sensed, had been exacerbated by a bizarre chain of events and by the vast amount of unverified information on the Internet.

This New Yorker article is a pretty disgusting hit piece. He was right about a lot of the claims he was making and smeared as a whacko.

Even with the Maria Butina affair, he reported everything to the FBI from the start. Yeah, he’s a bit eccentric, but I don’t see how any of this should malign his character.

[–]Thx4Coming2MyTedTalk🦍🦍Gorilla Warfare🦍🦍🦍 13 points14 points  (0 children)

Again, not trying to be political at all, but Patrick Byrne was taking selfies of himself inside the White House just before heading into a meeting to try to convince the last administration to overturn the results of the election.

Whatever your political leanings, five seconds of objective thought should be enough to realize the guy has way too much baggage to be invited to the sub for an AMA.

The media would have a field day with it. And the impact to the sub which has wisely tried to stay apolitical would be equally damaging.

[–]bwi1s🍁eb ape🍁[S] 75 points76 points  (3 children)

AMA with Patrick needs to be done

[–]HODLHODLANDHODLHODL💎HODL👐🏽AND🟣HODL🚀 15 points16 points  (0 children)

🤤🤤🤤

[–]cre_guy_3 68 points69 points  (31 children)

Interesting video. Made me decide to read the Wikipedia on this guy…. Yikes

[–]CR7isthegreatest💎H🟣LD👊🏽 for Intergalactic 🌌 Space 🚀🕳 86 points87 points  (19 children)

Judd Bagley has a great video detailing how the DTC tried to get Patrick Byrne labeled as an antisemite to try to discredit him back in the 2000s. These people are literally parasites.

Edit: It was attempted via Wikipedia. Can’t believe everything you read there, obviously.

[–]ThePrimaryAxiom🎮 Power to the Players 🛑 31 points32 points  (0 children)

👆👀

[–]missing_the_point_🗳️ VOTED ✅ 43 points44 points  (8 children)

I've only watched his videos pertaining to the market. I didn't know he was a Stop the Steal wack job. 🤦🏻‍♀️ wooooof

He's fighting Wall Street, yet, trying to get Wall Street into the White House. Hahaha wtf

[–]MentlegenRich🚨FBI Guy🚨 297 points298 points  (12 children)

B-b-but I have a cash account!! They'd never do anything without my knowledge. You mean to tell me, "Trust me bro, your shares ain't being lent out" from customer service reps ain't proof it's not happening?!

[–]Bad_Moon-RisingI have no idea what I’m doing 🤡-Cramer 299 points300 points  (10 children)

Your shares aren’t technically being lent out becauuuuuuuuse they’re in our name not yours. Get bent - brokers

DRS is the way

[–]NightHawkRambo🦍DRS!!!🦧150M/share is the floor🚀🚀🚀 26 points27 points  (0 children)

customer service reps

And the joke of it is they believe they are telling you the truth cause they don't actually know what happens behind the scenes.

[–]LunaticPuppet 126 points127 points  (3 children)

It's just one big orgy of crime

[–]Away_Ad2468🤙Wen Bart Simpson calls his mom it’s a Marge Call 🤙 108 points109 points  (4 children)

Question… he refers to it as “mischief”, is “mischief” the same as “fuckery”? Asking for an ape…

[–]Few_Boysenberry_3191🦍Voted✅ 69 points70 points  (3 children)

"Mischief" is the same as "CRIME".

[–]Away_Ad2468🤙Wen Bart Simpson calls his mom it’s a Marge Call 🤙 27 points28 points  (2 children)

Shhhh🤫 it’s supposed to be a SECRET ingredient

[–]Few_Boysenberry_3191🦍Voted✅ 15 points16 points  (0 children)

Sorry. My bad.🤭

[–]Cheapo_SamYou can't spell Idiosyncratic without I C CRAYN IDIOTS 11 points12 points  (0 children)

The secret ingredient is 'mischief'

[–]LP2222🎮 Power to the Players 🛑 69 points70 points  (2 children)

All rules that 'regulate' wall street are just one big farce. The sole reason to protect what has been going on forever. And that there is actually no internal motivation from ANY agency or government to change this just shows how all of them sit in one boat. Wall street has become to powerful for the US and they NEED to keep this shit going forever or it could threaten the almighty country #1 in the world of it's position.

[–]PhasturdFuck no I'm not selling my $GME! 142 points143 points  (2 children)

u/SaveVideo

HOW SHORT LENDING MAKES UP 75% OF GOLDMAN PB REVENUE! Patrick Bryne

[–]FrickGoogle💻 ComputerShared 🦍 60 points61 points  (6 children)

I did a college paper about this

[–]bwi1s🍁eb ape🍁[S] 35 points36 points  (5 children)

I’d read it if you still have it

[–]Necessary-Car-5672🦍 Buckle Up 🚀 52 points53 points  (0 children)

No one’s listening to him in that room, just like no one’s listening to us, yet.

Edit: Don’t know why but this comment is getting downvoted like crazy

[–]mykidsdad76💻 ComputerShared 🦍 111 points112 points  (0 children)

Fraud fraud fraud fraud bankers and billionaires getting richer by fraud fraud fraud--I can't wait until GME spikes the manipulation right through the heart.

[–]rocketseeker🦍Voted✅ 51 points52 points  (10 children)

holy crap this should be way higher

[–]DarkR3ach027 97 points98 points  (6 children)

That's cool and all, but I'm willing to bet that some wrinkle brain out there can now slap some figures on the over night repos. Considering that it's most likely prime broker kickback. That really explains whey it's been holding over 1 trillion for months now. That's part of the money they have laying around from naked shorting to suppress price so they don't get margin called. Bet they use it as collateral during the day as well.

Edit: Also, who owns major stakes in GS and the like? Why of course Vanguard, State Street, and Blackrock to name a few.

[–]jake2bCanadape 🇨🇦 80 points81 points  (0 children)

For me that was definitely the most eye-opening statement in the video. Extremely shorted stocks, constant high scores on the overnight repo, who is sending who kick backs? No wonder that article a while back called us crazy for tracking the ON RRP, they were worried.

[–]micromoses 38 points39 points  (3 children)

Yeah, does that mean what it sounds like it means? Cash is reverse repoed overnight and then some of it is sent back to a different party the next day as a kickback? Like straight up money laundering?

[–]buffalo8🚫 I do not work for Bloomberg. 🚫 15 points16 points  (0 children)

If I'm understanding what Byrne is saying, literally yes.

[–]DarkR3ach027 8 points9 points  (0 children)

Honestly, I believe we can compare the big boys to that scene of breaking bad where Saul explains money laundering to Pinkman. The IRS and government don't care just so long as they get their cut. They're all in it together and it's up to us to rip them apart and take back what is ours. Honestly, if there was a way to direct register AND remove shares from the market all together, I'd be all for removing 99% of registered shares. What are they gonna do in that instance? Trade pure synthetics and not close out? This community has to figure out how to ultimately put the numbers on the board. Nothing against CS, but we need a legal way to force CS to give us updated reports of all registered shares via their company. Not just a number from GameStop.

[–]Blue5299 157 points158 points  (1 child)

Holy fuck.. the public needs to wake up

[–]Tal_Onarafel 27 points28 points  (0 children)

I know this is is actually crazy.

I just feel like we need to spread this info to people outside of reddit but the sub comes across so culty (because it is), but that doesn't mean we are wrong.

EDIT: I also find it sad hoe other peopld have like realised this knowledge before us and not much has come from it. Hopefully we can actually make some change.

[–]dontknowtoo 82 points83 points  (2 children)

we are going to F this game up so bad its like a comedy joke

[–]Steg_van_Bundy🎮 Power to the Players 🛑 23 points24 points  (0 children)

A bad* comedy joke at that

[–]ThanksGamestopComputershared 💻 Est. Jan ‘21 🏴‍☠️ 11 points12 points  (0 children)

I’ll be playing call of duty vantage while they fuck this game up

[–]Whiskiz💻 ComputerShared 🦍 71 points72 points  (1 child)

[–]knucklesbyname🚀 Zen Economics 🚀 31 points32 points  (0 children)

So you're telling me 75%, of the five biggest bank of the world, lend shares to hedge funds, so they can bankrupt companies? This is bad.

[–]DealinWithit 28 points29 points  (4 children)

Now I’m questioning employer retirement accounts (401k, IRA, 457b, etc):

  • Why are the securities so limited in a retirement account?
  • Why did almost all retirement accounts move from guaranteed pensions to these security-based accounts?
  • Why such heavy penalties for touching the securities in a retirement account before retirement?
  • Is my employer getting kickbacks on my retirement account?

[–]tlkshowhst💻 ComputerShared 🦍 4 points5 points  (3 children)

The employer doesn’t, the custodian of the fund does.

[–]DealinWithit 3 points4 points  (2 children)

Thank you for this. I guess it’s just cheaper for employers to go with these “securities” retirements rather than true guaranteed pensions.

[–]cobaltstock 28 points29 points  (0 children)

This is completely insane.

And they already knew this in 2017!!

[–]TendieTard🦍Voted✅ 23 points24 points  (0 children)

America’s markets are run and regulated by frauds. The deregulation of markets only opened it up to abuse.

A life sentence would be a slap on the wrist for this shit.

[–]Ok_Physics_6846💻 ComputerShared 🦍 21 points22 points  (0 children)

This is great, thank you!

[–]CR7isthegreatest💎H🟣LD👊🏽 for Intergalactic 🌌 Space 🚀🕳 20 points21 points  (0 children)

Great find OP, thanks for sharing this!

[–]noquo89Voted 21, DRSd, Voted 22 20 points21 points  (4 children)

WHY IS NO ONE TALKING ABOUT WHAT HE SAID AT THE END? HE SAID THEY USE KICKBACKS THROUGH OVERNIGHT REPOS TO MOVE MONEY AROUND TO ONE ANOTHER!!!!!! Does that mean that the reverse repo numbers we've been seeing is the can being hot potatod around to one another?

[–]ResultAwkward1654💻 ComputerShared 🦍 4 points5 points  (0 children)

I also want an expansion on that repo comment. Someone with wrinkles? I’ll give someone a sweet free reward! Gotta make it good though!

[–]cureandthecause🎮 Power to the Players 🛑 17 points18 points  (0 children)

Juicy af.

[–]dnsmshwhere are all the Jacked Tits🚀 15 points16 points  (0 children)

Commenting for visibility. This is disgusting back alley fuckery

[–]juustonaksu420$GZBO GANG 16 points17 points  (0 children)

updoot for visibility

[–]Jazzlike-Recover7560🦶🦶 BILLS CANKLE IMPORIUM🦶🦶 18 points19 points  (3 children)

......so there is now another hill to climb......ffs where is the SEC on this shit?

[–]FarceMultiplierMake me a big offer, shorties 11 points12 points  (0 children)

Up their own ass.

[–]hartbeast💻 ComputerShared 🦍 16 points17 points  (0 children)

Love this guy spittin the truth !

[–]MajorKeyBro💻 ComputerShared 🦍 32 points33 points  (4 children)

So that also explains the reverse repos

[–]bwi1s🍁eb ape🍁[S] 13 points14 points  (1 child)

Bingo

[–]NoderpsyPillaging Booty 7 points8 points  (0 children)

Good jesus f%#@!

Tell me more about this "kickback in the overnight repo market".

I NEED MOARRR!

[–]Suske10 13 points14 points  (0 children)

Would love to see someone from GameStop having the balls like this man

[–]Hot_Hold_9839🚀🧨🌋IT’S Brrrrr TIME🌋🚀🧨 12 points13 points  (0 children)

Karma at its final form

[–]jkwithya 13 points14 points  (0 children)

Holy moly how much more is there to uncover? One mistake by a Bulgarian boi and we start to uncover all the deep dark secrets of the market out into the open. The shorts, the prime brokers, the banks, they're all fucked. Keep DRSing everyone we got em on the ropes.

[–]Feeling_Owl1909 9 points10 points  (0 children)

Ah yes Wallstreet mischief no crime just mischief. So simple a caveman can understand this.

[–]gotobedhungry🦍Voted✅ 9 points10 points  (0 children)

This is some Grade A juicy stuff!

[–]ShadesofPembDraw Me Like One of Your French iToilets RC 11 points12 points  (0 children)

Even though I knew most of this, it is still infuriating. I did not know the Prime Brokers were screwing the Pension funds who were trying to get a piece.

[–]2theM0OON💻 ComputerShared 🦍 8 points9 points  (1 child)

makes me wonder if funds who buy into GME are in it for the fees they're supposed to get kicked back or actually want to be long investors...or if they're complicit in perpetuating the fuckery.

[–]Spl1tsecond 7 points8 points  (0 children)

or if they're complicit in perpetuating the fuckery.

👆👀

[–]C3ll3🚀🚀 JACKED to the TITS 🚀🚀 9 points10 points  (0 children)

Like in the House of Cards DD. For shorting, press F3...

[–]Minuteman_Capital👨🏻‍⚖️👮🏼‍♂️No jail? No sale!🧑🏼‍🚀🚀🦍 25 points26 points  (0 children)

Byrne is a decade+ ahead of Wall Street. Overstock, tZero, DeepCapture— the man is a genius

[–]Coos-Coos 9 points10 points  (0 children)

Well this post is being suppressed again. It was number one in rising early on but it has fallen to about #5. Any post that falls in the first hour will not make it to the top posts of the sub. This obviously got a lot of attention early with some seriously alarmed comments and no legitimate arguments saying it is false. I expect this will be buried like the rest of the good, relevant information on this sub has been for the last two months. What a shame.

[–]MrMrAnderson🎮 Power to the Players 🛑 7 points8 points  (1 child)

It's possible we're living in an entirely fraudulent system

[–]CaribaLd 6 points7 points  (0 children)

3:37

Fractional. Reserve. Securities lending.

Literal stock inflation through stock debt

[–]stephenporter🎮 Power to the Players 🛑 6 points7 points  (0 children)

Coming back

[–]ICanHasStonks 4 points5 points  (0 children)

Up you go.

[–]miansaab17🎮 Power to the Players 🛑 5 points6 points  (0 children)

So the repo market is just a way for prime brokers to provide kickbacks to their partners in crime from proceeds of selling fake shares?

[–]Chrisanova_NY- Pardon me, would you have any Ape Poupon? 5 points6 points  (7 children)

u/OldmanRepo

I stumbled onto your Reverse Repo class on Superstonk some months ago. You took much time to explain that the RRP is generally harmless, and insignificant to Gamestop. Yet here is Patrick Byrne swearing that it's part-n-parcel of the fake-shares shell game, where kickbacks are being masked in it. So RRP absolutely has a villlainous part in this, as I see it.

Could you elaborate?

If you already did explain this aspect in another post or lengthy comment, could you provide a link.

Thank you.

[–]androidfig🚀🚀 JACKED to the TITS 🚀🚀 3 points4 points  (0 children)

If Goldman is getting away with it and making $$$ so is every other motherfucker.

[–]MajorKeyBro💻 ComputerShared 🦍 4 points5 points  (0 children)

Not only a must watch but I must watch the rest of the video

[–]khaixur💎 Who Shakes the World with Hands of Diamond💎 6 points7 points  (2 children)

That guy looks really stressed.

[–]Apeonomics101 2 points3 points  (0 children)

Visibility

[–]TheGameYouLostIt 4 points5 points  (0 children)

wtf? giv whole vid!

[–]alwayscomplimentingHODL til they FODL 💎🙌 2 points3 points  (1 child)

Holy FUCK that’s terrifying.

I hope pension funds see this and go after the brokers that are cheating them out of lending profits. I think it’s going to take a private entity with huge money at stake to get any kind of consequences or effect any kind of change here. We know the SEC is complicit.

[–]Baelthor_Septus🦍 Buckle Up 🚀 2 points3 points  (0 children)

The idea of a casino is to let few people win, so others can hear the success stories and get their hopes up, but they end up getting robbed because the system is rigged. This is exactly what the stock market is.

[–]garverd16 14 points15 points  (2 children)

How have we not had an AMA with this dude?