What Happens When The Grifters Get Grifted?

Note: I am not going to write about the specifics of the situation I am going to discuss because: you can/will have read about the situation if you opened a news source in the past day, the names do not matter as this has been going on since the Tulip bubble, and I do not want to trigger myself or any others with a gambling disorder.

Some call for 30-day moratoriums on trading specific stock(s), some have already cut off their customers from buying certain stocks, some want the Fed/Sec/anyone in power to intervene, some are rightfully calling BS on the concern that the market game might have seen a paradigm shift in power (that has not been proven yet) that takes power away from the Smartest Grifters in the Room…

My belief is that The Fed will not react to the situation because they are guilty themselves of creating bubbles. When the market moved dramatically lower last year they changed their rules to prop up “zombie” securities that led to a dramatic rise in the market. The Fed created their own paradigm shift that played havoc with the markets which has created an imposter of a free market place. And, I believe that there was insider knowledge that created an unfair, unjust distribution of wealth to the top 1% of the top 1% who along with the other 1% have reaped over a trillion dollars in this time of pandemic and financial suffering for most of our country/world.

I would agree with the call for a 30-day moratorium if the call was to close all the markets-to everyone-with that time used to study the inequities of the market and the ultimate question if we need the markets at all. As long I am in a magical thinking realm let’s close all forms of gambling while we study if their is a need for any form of gambling and the social costs of any form of gambling.

One thought on “What Happens When The Grifters Get Grifted?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: