After doing absolutely nothing about the infamous Bernie Madoff Ponzi scheme that defrauded countless investors of billions of dollars, the Securities and Exchange Commission (SEC) has suddenly decided to launch a probe into market manipulation now that smart retail investors are making a few bucks from the legendary GameStop (GME) short squeeze.
According to reports, SEC investigators are "combing social media and message board posts for signs that fraud played a role in dizzying stock swings for GameStop Corp., AMC Entertainment Holdings Inc. and other companies."
A new task force headed by non-recused Treasury Secretary Janet Yellen, who has made millions in Wall Street "speaking fees," will supposedly look into the matter. We can only guess that all the wealthy hedge funds will be found "not guilty" while all the retail investors will be accused of "financial terrorism."
Yellen was paid about $810,000 just in the last year to "speak" on behalf of Citadel, the same corporate hedge fund that is behind the fraudulent Robinhood trading app that ripped off millions of retail investors by blocking them from buying more shares in GME.
The SEC is now "on the hunt for misinformation meant to improperly tilt the market," again suggesting that it is not looking at the corrupt hedge funds that artificially drove the price of GME stock, but rather at ordinary retail investors who decided they liked the stock and wanted to participate in a unique opportunity.
The stock market is a rigged game that exclusively benefits the rich
According to Zero Hedge, an article posted to Reddit back on Sept. 8 revealed precisely how the GME short squeeze would work. It contained open knowledge pieced together in such a way that retail investors could understand the nature of the beast and outsmart it.
Nothing illegal occurred, and for once the little guy had an opportunity to take back what was stolen from him during the market collapse of 2008, which prompted taxpayer-funded bailouts of the very same hedge funds that are once again trying to screw the little guy.
"There was absolutely nothing manipulative about it, and in fact it laid out the thesis very clearly – spark a huge short squeeze, something which countless funds, management teams and retail investors have tried to do in the past, and occasionally like in the case of Volkswagen, succeeded," reports indicate.
Just to be sure that the whole thing was above-board, the author of that Sept. 8 post to Reddit added a disclaimer indicating that it was all speculative and for "entertainment purposes only." What users chose to do with the information was their business.
It is easy to see that the real criminals in all this are the hedge funds, Janet Yellen, and depending on the outcome of the investigation, the SEC, which is once again doing the bidding of the billionaires to protect their interests at the expense of everyone else's.
Apparently middle-class folks are not allowed to make any money in the stock market, and if they do then they committed "fraud," according to the powers that be. Meanwhile, the wealthy hedge funds that have been scamming people for decades are always perfect little angels that never do anything wrong.
"How about naked short selling, which is illegal?" asked one Zero Hedge commenter about why the SEC is apparently not investigating the illegal activities of the hedge funds.
"High-frequency trading by front running trades, which is illegal?" this same commenter added. "Nope ... but let's go after some basement bloggers."
More related news about the federal government's endless assault on everyday Americans can be found at Tyranny.news.
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