Big tech is proving just how unethically they will use their power.
They’ll dishonestly protect each other while average citizens suffer.
Tucker Carlson revealed a broken American promise that has people raging mad.
At the moment, Americans can see that the rich elite aren’t having to abide by the same rules as average Americans.
President Joe Biden is a perfect example of this. He signed an order mandating masks be worn at all times on federal property, then went to the Lincoln Memorial, took off his mask and broke the rule he just signed.
The powerful in America are playing by a different set of rules.
This has terrible consequences for real-life people.
A group on Reddit called ‘WallStreetBets’ learned that hedge funds planned to short the stock of a fading retail company called GameStop.
Short-selling is a way for investors to profit from a falling stock by borrowing shares of a stock, selling it, and agreeing to purchase the shares of the stock at a later date when they hope the stock’s price will be lower in the future.
WallStreetBets decided that they were going to stop the short and drive the stock of GameStop up, ultimately leading to the stock going up more than a thousand percent.
This led to the hedge funds losing billions of dollars, so they decided to change the system.
Fox News Channel’s Tucker Carlson explained on Thursday how the hedge funds “immediately changed the rules of the game.”
“Today, the investment app Robinhood, which is used by independent investors to buy and sell stock, banned its users from trading GameStop shares, as well as from several other company shares. No one even knew that was legal. Maybe it isn’t. But Robinhood did it anyway, and they did it under pressure from the hedge funds, who they really work for.” Carlson said.
“So much for the free market, you’re always hearing about, there’s nothing free about it,” he continued. “That turned out to be a lie. It turns out that what Wall Street really hates is outsider trading. The idea that people from outside their world might be getting rich, that’s the one sin they can’t abide.”
Carlson noted that Robinhood ran an ad a month ago which said, “We set out to change the way the system works.”
“In fact, that’s literally true,” he added. “Robinhood changed the system at precisely the moment when people from outside the system started benefiting from the system. Sorry, proles. No trading for you. We are locking your account.”
Robinhood won’t let people trade, Google deleted the one-star ratings that Robinhood was receiving, Discord banned users from the WallStreetBets group from using its platform.
What big tech and the elite don’t understand is that they made their problems much worse. Sure, they saved a few billion by manipulating the markets, but they made it clear in the process that they aren’t playing by the same rules.
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