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The Suits Are Pissed
A historical day in the market by many measures my fellow degenerates. Meme stocks rallied to nosebleed levels. Short sellers continued to burn billions in hard earned investor capital. The proletariat has won this battle.
The suits are watching the event of the market unfold and they are not happy. Major brokerage houses across the country “accidentally” shut down. The platform Wall Street Bets is hosted on collapsed. And the SEC is beginning to investigate the “manipulation” in stocks.
This will not end well. The suits always win and the market always reverts to being a weighing machine in the long-run. However, irrational exuberance is here and now. Ride the waves or get out of the way. At the end of the day a pig will get slaughtered.
Stocks Moves of the Day
AMC Entertainment: +301%
Express Holdings: +214%
Koss Corporation: +480%
National Beverage Corp: +40%
SpectralCast, Inc: +45%
It appears as if Wall Street Bet users are hyping up silver as the next trade. Silver is a volatile commodity and has been used in speculation to hedge inflation for years.
I personally own a small chunk of physical silver and some of the paper silver in the ETF iShares Silver Trust ETF (“SLV”).
I have always been of the belief that the Federal Government will eventually have to pay back their debts which mount more everyday. The debts will either be paid by higher taxes or through the printing press. Either alternative will result in a massive inflationary environment.
I’ll hold my physical silver probably until I die - or in a draconian scenario - until I need to use it as barter for food. The small amount of SLV I hold is more for speculation as I think over the course of the next two years there will be an incredible amount of inflation which should largely benefit fixed and hard asset commodities.
To end this, I would like to thank all 7,000 of you who now follow this newsletter. I will try to put out relevant investing information on a daily basis - consisting mostly of my thoughts on the financial system. Please share this with whoever you think would be interested.
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