now<00:00:02.000> the<00:00:02.159> us<00:00:02.720> retailer<00:00:03.520> gamestops<00:00:04.319> christmas

now the us retailer gamestops christmas

now the us retailer gamestops christmas commercial

commercial

commercial had<00:00:06.160> an<00:00:06.399> awful<00:00:06.720> lot<00:00:06.879> of<00:00:07.040> screaming<00:00:07.680> in<00:00:07.839> it<00:00:08.320> i

had an awful lot of screaming in it i

had an awful lot of screaming in it i think<00:00:08.639> they're<00:00:08.880> really<00:00:14.920> gonna

love<00:00:20.160> these<00:00:20.640> me<00:00:20.880> too

and<00:00:24.000> now<00:00:24.160> it's<00:00:24.400> the<00:00:24.560> cause<00:00:24.880> of<00:00:25.039> screaming<00:00:25.519> on

and now it's the cause of screaming on

and now it's the cause of screaming on wall<00:00:26.080> street<00:00:26.560> the<00:00:26.720> struggling<00:00:27.199> company

wall street the struggling company

wall street the struggling company shares<00:00:28.160> suddenly<00:00:28.640> rocketed

shares suddenly rocketed

shares suddenly rocketed not<00:00:29.840> because<00:00:30.160> it's<00:00:30.320> doing<00:00:30.640> well<00:00:31.119> despite<00:00:31.599> the

not because it's doing well despite the

not because it's doing well despite the advert<00:00:32.079> it<00:00:32.239> really<00:00:32.559> isn't

advert it really isn't

advert it really isn't but<00:00:33.360> because<00:00:33.680> members<00:00:34.000> of<00:00:34.160> a<00:00:34.239> reddit<00:00:34.719> message

but because members of a reddit message

but because members of a reddit message board<00:00:35.440> apparently<00:00:35.920> decided<00:00:36.480> to<00:00:36.640> teach

board apparently decided to teach

board apparently decided to teach investment<00:00:37.680> banking<00:00:38.239> a<00:00:38.399> lesson<00:00:39.440> now<00:00:39.680> they're

investment banking a lesson now they're

investment banking a lesson now they're screaming<00:00:40.399> on<00:00:40.559> all<00:00:40.719> sides<00:00:41.120> as<00:00:41.280> some<00:00:41.520> say<00:00:41.680> laws

screaming on all sides as some say laws

screaming on all sides as some say laws are<00:00:42.079> being<00:00:42.399> broken

are being broken

are being broken others<00:00:43.120> say<00:00:43.360> no<00:00:43.520> one's<00:00:43.760> done<00:00:44.000> anything<00:00:44.480> wrong

others say no one's done anything wrong

others say no one's done anything wrong regulators<00:00:45.600> may<00:00:45.760> be<00:00:45.920> called<00:00:46.239> in

regulators may be called in

regulators may be called in and<00:00:46.960> suddenly<00:00:47.360> everyone's<00:00:47.840> a<00:00:47.920> stock<00:00:48.239> market

and suddenly everyone's a stock market

and suddenly everyone's a stock market expert<00:00:49.200> well<00:00:49.440> we've<00:00:49.680> got<00:00:49.920> a<00:00:50.079> real<00:00:50.399> one

expert well we've got a real one

expert well we've got a real one gary<00:00:51.280> stevenson<00:00:51.760> made<00:00:52.079> so<00:00:52.239> much<00:00:52.480> money

gary stevenson made so much money

gary stevenson made so much money trading<00:00:53.039> in<00:00:53.120> london<00:00:53.440> he<00:00:53.600> retired<00:00:54.160> at<00:00:54.320> 27

trading in london he retired at 27

trading in london he retired at 27 now<00:00:55.440> he's<00:00:55.600> an<00:00:55.760> economist<00:00:56.320> who<00:00:56.559> specializes<00:00:57.440> in

now he's an economist who specializes in

now he's an economist who specializes in examining<00:00:58.320> inequality

examining inequality

examining inequality and<00:00:59.680> he<00:00:59.920> thinks<00:01:00.320> that's<00:01:00.559> what's<00:01:00.879> been<00:01:01.039> exposed

and he thinks that's what's been exposed

and he thinks that's what's been exposed here<00:01:01.760> he's<00:01:02.000> with<00:01:02.079> me<00:01:02.239> now<00:01:02.559> gary

here he's with me now gary

here he's with me now gary you've<00:01:03.359> probably<00:01:03.680> answered<00:01:04.000> this<00:01:04.239> question<00:01:04.640> a

you've probably answered this question a

you've probably answered this question a lot<00:01:04.960> over<00:01:05.199> the<00:01:05.280> last<00:01:05.519> few<00:01:05.760> days<00:01:06.000> but<00:01:06.240> can<00:01:06.400> you

lot over the last few days but can you

lot over the last few days but can you explain<00:01:07.200> as<00:01:07.439> simply<00:01:07.920> as<00:01:08.159> possible

explain as simply as possible

explain as simply as possible what<00:01:09.680> happened<00:01:10.320> with<00:01:10.560> gabe<00:01:10.799> stop<00:01:11.520> yeah<00:01:11.680> that's

what happened with gabe stop yeah that's

what happened with gabe stop yeah that's no<00:01:12.000> problem<00:01:12.240> at<00:01:12.320> all<00:01:12.479> david<00:01:12.720> that's<00:01:12.960> the

no problem at all david that's the

no problem at all david that's the question<00:01:13.280> that<00:01:13.439> everybody<00:01:13.840> wants<00:01:14.080> to<00:01:14.159> know

question that everybody wants to know

question that everybody wants to know right<00:01:14.640> now<00:01:14.799> okay

right now okay

right now okay so<00:01:15.600> let's<00:01:15.840> keep<00:01:16.000> it<00:01:16.080> nice<00:01:16.240> and<00:01:16.320> simple<00:01:16.640> what<00:01:16.799> is

so let's keep it nice and simple what is

so let's keep it nice and simple what is short<00:01:17.119> selling<00:01:18.000> short<00:01:18.240> selling<00:01:18.560> is<00:01:18.640> a<00:01:18.720> way

short selling short selling is a way

short selling short selling is a way that<00:01:18.960> you<00:01:19.040> can<00:01:19.200> make<00:01:19.360> money<00:01:19.600> from<00:01:19.759> the<00:01:19.840> price

that you can make money from the price

that you can make money from the price of<00:01:20.159> a<00:01:20.240> stock<00:01:20.560> going

of a stock going

of a stock going down<00:01:21.759> now<00:01:22.000> if<00:01:22.080> you<00:01:22.159> think<00:01:22.320> the<00:01:22.400> price<00:01:22.640> of<00:01:22.720> a

down now if you think the price of a

down now if you think the price of a stock<00:01:23.040> is<00:01:23.119> going<00:01:23.280> to<00:01:23.360> go<00:01:23.520> up<00:01:23.840> it's<00:01:24.000> easy<00:01:24.320> you<00:01:24.479> go

stock is going to go up it's easy you go

stock is going to go up it's easy you go out<00:01:24.880> you<00:01:24.960> buy<00:01:25.119> the<00:01:25.280> stock<00:01:25.600> it<00:01:25.759> goes<00:01:26.000> up<00:01:26.159> you

out you buy the stock it goes up you

out you buy the stock it goes up you sell<00:01:26.560> it

sell it

sell it but<00:01:27.200> if<00:01:27.360> it's<00:01:27.439> going<00:01:27.520> to<00:01:27.600> go<00:01:27.840> down<00:01:28.080> what<00:01:28.240> do<00:01:28.320> you

but if it's going to go down what do you

but if it's going to go down what do you do<00:01:28.640> because<00:01:28.880> you<00:01:28.960> can't<00:01:29.280> sell<00:01:29.520> it<00:01:29.680> if<00:01:29.759> you

do because you can't sell it if you

do because you can't sell it if you don't

don't

don't have<00:01:30.560> it<00:01:31.200> the<00:01:31.280> way<00:01:31.439> it<00:01:31.520> works<00:01:31.840> is<00:01:32.159> you<00:01:32.320> find

have it the way it works is you find

have it the way it works is you find someone<00:01:32.720> who<00:01:32.880> does<00:01:33.040> have<00:01:33.280> it

someone who does have it

someone who does have it you<00:01:33.680> borrow<00:01:34.000> it<00:01:34.240> say<00:01:35.040> for<00:01:35.200> a<00:01:35.280> week<00:01:35.680> for<00:01:35.840> example

you borrow it say for a week for example

you borrow it say for a week for example the<00:01:36.479> way<00:01:36.640> you<00:01:36.720> might<00:01:36.960> borrow<00:01:37.119> a<00:01:37.200> library<00:01:37.520> book

the way you might borrow a library book

the way you might borrow a library book and<00:01:38.240> then<00:01:38.479> you<00:01:38.720> sell<00:01:38.960> it<00:01:39.360> and<00:01:39.439> then<00:01:39.680> you<00:01:39.840> hope

and then you sell it and then you hope

and then you sell it and then you hope to<00:01:40.240> buy<00:01:40.400> it<00:01:40.479> back<00:01:40.880> within<00:01:41.200> the<00:01:41.360> week

to buy it back within the week

to buy it back within the week you<00:01:42.000> buy<00:01:42.159> it<00:01:42.240> for<00:01:42.320> a<00:01:42.399> lower<00:01:42.640> price<00:01:42.799> and<00:01:42.960> you

you buy it for a lower price and you

you buy it for a lower price and you sold<00:01:43.200> it<00:01:43.280> and<00:01:43.360> you<00:01:43.439> make<00:01:43.600> your<00:01:43.680> profit<00:01:44.000> that's

sold it and you make your profit that's

sold it and you make your profit that's how<00:01:44.320> it<00:01:44.399> works<00:01:44.640> short<00:01:44.880> selling<00:01:45.119> is<00:01:45.280> you<00:01:45.360> borrow

how it works short selling is you borrow

how it works short selling is you borrow it

it

it you<00:01:46.159> sell<00:01:46.399> it<00:01:46.640> you<00:01:46.799> buy<00:01:46.880> it<00:01:46.960> back<00:01:47.119> later

you sell it you buy it back later

you sell it you buy it back later hopefully<00:01:48.240> for<00:01:48.399> cheaper<00:01:48.799> and<00:01:48.880> that's<00:01:49.119> what's

hopefully for cheaper and that's what's

hopefully for cheaper and that's what's been<00:01:49.520> happening<00:01:49.840> with<00:01:50.000> gamestop<00:01:50.479> which<00:01:50.720> is<00:01:50.880> a

been happening with gamestop which is a

been happening with gamestop which is a company<00:01:51.360> that<00:01:51.600> a<00:01:51.680> lot<00:01:51.920> of<00:01:52.079> investors<00:01:52.799> don't

company that a lot of investors don't

company that a lot of investors don't think<00:01:53.920> will<00:01:54.159> perhaps<00:01:54.560> even<00:01:54.799> survive<00:01:55.439> for<00:01:55.600> much

think will perhaps even survive for much

think will perhaps even survive for much longer<00:01:56.320> so<00:01:56.479> they<00:01:56.640> started<00:01:57.119> to

longer so they started to

longer so they started to short<00:01:58.000> sell<00:01:58.320> it<00:01:58.560> and<00:01:58.640> then<00:01:59.280> this<00:01:59.600> group<00:01:59.920> on

short sell it and then this group on

short sell it and then this group on reddit<00:02:00.640> decided

reddit decided

reddit decided hold<00:02:01.759> on<00:02:02.719> that's<00:02:03.040> immoral<00:02:04.240> started<00:02:04.719> buying

hold on that's immoral started buying

hold on that's immoral started buying loads<00:02:05.759> of<00:02:05.920> shares<00:02:06.799> and<00:02:06.960> suddenly<00:02:07.280> instead<00:02:07.520> of

loads of shares and suddenly instead of

loads of shares and suddenly instead of going<00:02:08.080> down

going down

going down the<00:02:08.879> stock<00:02:09.280> price<00:02:09.840> went<00:02:10.160> right<00:02:10.479> up<00:02:11.360> yeah<00:02:11.680> i

the stock price went right up yeah i

the stock price went right up yeah i think<00:02:12.000> it's<00:02:12.160> important<00:02:12.400> to<00:02:12.480> get<00:02:12.560> a<00:02:12.560> bit

think it's important to get a bit

think it's important to get a bit broader<00:02:13.040> context<00:02:13.440> here

broader context here

broader context here in<00:02:14.080> the<00:02:14.160> us<00:02:14.560> just<00:02:14.720> like<00:02:14.959> here<00:02:15.280> loads<00:02:15.520> of<00:02:15.599> people

in the us just like here loads of people

in the us just like here loads of people they<00:02:16.000> can't<00:02:16.239> work<00:02:16.400> they've<00:02:16.560> lost<00:02:16.800> their<00:02:16.959> jobs

they can't work they've lost their jobs

they can't work they've lost their jobs because<00:02:17.360> of<00:02:17.520> code<00:02:17.920> they're<00:02:18.080> seeing<00:02:18.319> a<00:02:18.400> home

because of code they're seeing a home

because of code they're seeing a home and<00:02:18.800> they<00:02:18.959> are<00:02:19.040> sitting<00:02:19.360> at<00:02:19.440> home<00:02:20.000> making<00:02:20.319> no

and they are sitting at home making no

and they are sitting at home making no money<00:02:20.959> getting<00:02:21.440> relatively<00:02:21.840> small<00:02:22.080> stimulus

money getting relatively small stimulus

money getting relatively small stimulus checks

checks

checks and<00:02:23.120> they're<00:02:23.280> watching<00:02:23.680> the<00:02:23.840> stock<00:02:24.080> market<00:02:24.400> go

and they're watching the stock market go

and they're watching the stock market go through<00:02:24.800> the<00:02:24.959> roof<00:02:25.440> so<00:02:25.680> it's

through the roof so it's

through the roof so it's this<00:02:26.400> mad<00:02:26.640> situation<00:02:27.120> where<00:02:27.200> ordinary<00:02:27.680> people

this mad situation where ordinary people

this mad situation where ordinary people are<00:02:28.160> sitting<00:02:28.480> at<00:02:28.560> home

are sitting at home

are sitting at home they<00:02:29.440> can't<00:02:29.599> even<00:02:29.760> work<00:02:30.000> a<00:02:30.160> job<00:02:30.480> you<00:02:30.640> know

they can't even work a job you know

they can't even work a job you know they're<00:02:30.879> struggling<00:02:31.120> to<00:02:31.200> look<00:02:31.360> after<00:02:31.519> their

they're struggling to look after their

they're struggling to look after their families<00:02:32.239> and<00:02:32.319> the<00:02:32.480> billionaires<00:02:32.879> and

families and the billionaires and

families and the billionaires and multimillionaires<00:02:33.760> are<00:02:33.920> making

multimillionaires are making

multimillionaires are making billions<00:02:35.280> and<00:02:35.360> mighty<00:02:35.599> millions<00:02:36.319> on<00:02:36.480> the

billions and mighty millions on the

billions and mighty millions on the stock<00:02:36.720> markets<00:02:37.040> and<00:02:37.120> they<00:02:37.280> want<00:02:37.360> to<00:02:37.440> get

stock markets and they want to get

stock markets and they want to get involved

involved

involved so<00:02:38.480> they're<00:02:38.720> out<00:02:38.800> there<00:02:39.040> on<00:02:39.120> the<00:02:39.280> internet<00:02:39.760> and

so they're out there on the internet and

so they're out there on the internet and they've<00:02:40.160> converged<00:02:40.560> on<00:02:40.640> this<00:02:40.800> one<00:02:41.040> website

they've converged on this one website

they've converged on this one website reddit<00:02:41.920> which<00:02:42.080> is<00:02:42.160> a<00:02:42.239> popular<00:02:42.640> messaging

reddit which is a popular messaging

reddit which is a popular messaging board<00:02:43.200> all<00:02:43.360> over<00:02:43.440> the<00:02:43.519> world<00:02:43.760> especially<00:02:44.080> in

board all over the world especially in

board all over the world especially in the<00:02:44.160> us

the us

the us there's<00:02:45.200> clearly<00:02:45.440> some<00:02:45.599> very<00:02:45.680> well<00:02:45.840> informed

there's clearly some very well informed

there's clearly some very well informed people<00:02:46.319> here<00:02:46.480> and<00:02:46.560> they<00:02:46.640> said<00:02:46.800> look<00:02:47.440> these

people here and they said look these

people here and they said look these hedge<00:02:48.000> funds<00:02:48.239> i<00:02:48.319> put

hedge funds i put

hedge funds i put massive<00:02:49.360> short<00:02:49.760> positions<00:02:50.160> on<00:02:50.319> gamestop<00:02:51.440> if

massive short positions on gamestop if

massive short positions on gamestop if we<00:02:51.840> all<00:02:52.000> get<00:02:52.080> together<00:02:52.400> as<00:02:52.480> a<00:02:52.560> group

we all get together as a group

we all get together as a group and<00:02:53.120> we<00:02:53.360> buy<00:02:53.680> enough<00:02:54.000> gamestop<00:02:54.800> stock<00:02:55.680> then

and we buy enough gamestop stock then

and we buy enough gamestop stock then this<00:02:56.160> is<00:02:56.239> what<00:02:56.400> is<00:02:56.560> known

this is what is known

this is what is known as<00:02:57.280> a<00:02:57.440> classic<00:02:57.920> short<00:02:58.159> squeeze<00:02:58.879> i<00:02:59.040> know<00:02:59.200> you've

as a classic short squeeze i know you've

as a classic short squeeze i know you've got<00:02:59.360> a<00:02:59.440> short<00:02:59.680> position

got a short position

got a short position so<00:03:00.400> i<00:03:00.640> run<00:03:00.879> the<00:03:01.040> price<00:03:01.360> up<00:03:01.599> and<00:03:01.680> when<00:03:01.920> it<00:03:02.159> when

so i run the price up and when it when

so i run the price up and when it when the<00:03:02.480> time<00:03:02.640> comes<00:03:02.879> you<00:03:02.959> need<00:03:03.120> to<00:03:03.200> buy<00:03:03.360> it<00:03:03.440> back

the time comes you need to buy it back

the time comes you need to buy it back well<00:03:04.080> you<00:03:04.159> have<00:03:04.319> to<00:03:04.480> pay<00:03:04.720> me<00:03:04.879> whatever<00:03:05.120> i<00:03:05.280> ask

well you have to pay me whatever i ask

well you have to pay me whatever i ask for<00:03:05.519> it<00:03:05.680> and<00:03:05.760> this<00:03:05.840> has<00:03:05.920> happened<00:03:06.159> before<00:03:06.480> you

for it and this has happened before you

for it and this has happened before you can

can

can if<00:03:07.120> you<00:03:07.200> look<00:03:07.360> in<00:03:07.440> the<00:03:07.519> 80s<00:03:07.920> there<00:03:08.000> was<00:03:08.159> a<00:03:08.239> big

if you look in the 80s there was a big

if you look in the 80s there was a big short<00:03:08.560> squeeze<00:03:08.879> in<00:03:08.959> gold<00:03:09.360> massively<00:03:09.840> it<00:03:09.920> does

short squeeze in gold massively it does

short squeeze in gold massively it does happen<00:03:10.400> from<00:03:10.560> time<00:03:10.720> to<00:03:10.959> time

happen from time to time

happen from time to time although<00:03:11.840> it's<00:03:12.080> not<00:03:12.319> normally<00:03:12.800> managed<00:03:13.200> by

although it's not normally managed by

although it's not normally managed by messaging<00:03:14.080> boards<00:03:14.319> on<00:03:14.319> the<00:03:14.400> internet<00:03:14.800> what

messaging boards on the internet what

messaging boards on the internet what about<00:03:15.200> the<00:03:15.280> role<00:03:15.599> of<00:03:16.000> these<00:03:16.319> relatively

about the role of these relatively

about the role of these relatively new<00:03:17.599> apps<00:03:18.000> things<00:03:18.319> like<00:03:18.800> robin<00:03:19.200> hood<00:03:19.440> which

new apps things like robin hood which

new apps things like robin hood which had<00:03:19.840> to

had to

had to take<00:03:20.560> action<00:03:21.040> to<00:03:21.200> stop<00:03:21.519> people<00:03:22.239> buying<00:03:22.640> and

take action to stop people buying and

take action to stop people buying and selling

selling

selling uh<00:03:24.000> stock<00:03:24.640> in<00:03:24.799> gamestop<00:03:25.280> what<00:03:25.440> kind<00:03:25.599> of<00:03:25.760> role

uh stock in gamestop what kind of role

uh stock in gamestop what kind of role have<00:03:26.400> these

have these

have these had<00:03:27.599> in<00:03:28.319> i<00:03:28.480> think<00:03:28.720> the<00:03:28.879> idea<00:03:29.200> was<00:03:29.360> to

had in i think the idea was to

had in i think the idea was to democratize

democratize

democratize wall<00:03:31.360> street<00:03:31.840> and<00:03:32.319> investment<00:03:32.879> banking<00:03:34.000> have

wall street and investment banking have

wall street and investment banking have they<00:03:34.480> had<00:03:34.720> a<00:03:34.879> good<00:03:35.120> influence

they had a good influence

they had a good influence you<00:03:36.159> know<00:03:36.239> what<00:03:36.480> david<00:03:36.799> i'm<00:03:36.879> really<00:03:37.040> happy<00:03:37.280> you

you know what david i'm really happy you

you know what david i'm really happy you asked<00:03:37.599> me<00:03:37.680> that<00:03:37.920> because<00:03:38.159> on<00:03:38.319> the<00:03:38.400> one<00:03:38.640> side<00:03:38.959> we

asked me that because on the one side we

asked me that because on the one side we have<00:03:39.280> this<00:03:39.440> situation<00:03:40.080> and<00:03:40.159> it's<00:03:40.319> not<00:03:40.480> just

have this situation and it's not just

have this situation and it's not just this<00:03:40.879> last<00:03:41.040> year<00:03:41.200> it's<00:03:41.360> been<00:03:41.440> happening<00:03:41.680> for

this last year it's been happening for

this last year it's been happening for 10<00:03:42.000> years<00:03:42.239> you<00:03:42.319> know

10 years you know

10 years you know stock<00:03:42.799> markets<00:03:43.120> have<00:03:43.200> gone<00:03:43.360> up<00:03:43.440> about<00:03:43.680> three

stock markets have gone up about three

stock markets have gone up about three or<00:03:43.920> four<00:03:44.159> times<00:03:44.480> five<00:03:44.640> times<00:03:44.879> depending<00:03:45.200> what

or four times five times depending what

or four times five times depending what country<00:03:45.519> you<00:03:45.599> look<00:03:45.760> at<00:03:45.840> it<00:03:46.000> since<00:03:46.239> 2008

country you look at it since 2008

country you look at it since 2008 and<00:03:47.440> in<00:03:47.599> that<00:03:47.760> time<00:03:48.000> have<00:03:48.159> a<00:03:48.239> wage<00:03:48.640> has<00:03:48.720> gone<00:03:48.879> up

and in that time have a wage has gone up

and in that time have a wage has gone up five<00:03:49.200> times<00:03:49.519> definitely<00:03:50.000> not

five times definitely not

five times definitely not so<00:03:50.640> we've<00:03:50.799> had<00:03:50.879> this<00:03:51.040> situation<00:03:51.519> where<00:03:51.680> the

so we've had this situation where the

so we've had this situation where the rich<00:03:52.159> are<00:03:52.239> doing<00:03:52.480> really<00:03:52.720> well<00:03:52.879> on<00:03:53.040> stock

rich are doing really well on stock

rich are doing really well on stock markets<00:03:53.680> and<00:03:53.840> also

markets and also

markets and also property<00:03:54.640> markets<00:03:54.879> for<00:03:55.040> example<00:03:55.439> whereas

property markets for example whereas

property markets for example whereas ordinary<00:03:56.239> people<00:03:56.400> are<00:03:56.480> not<00:03:56.640> making<00:03:56.879> money

ordinary people are not making money

ordinary people are not making money so<00:03:57.920> giving<00:03:58.319> ordinary<00:03:58.879> people<00:03:59.120> access<00:03:59.439> to

so giving ordinary people access to

so giving ordinary people access to stock<00:03:59.840> markets

stock markets

stock markets it<00:04:00.560> has<00:04:00.720> to<00:04:00.879> be<00:04:00.959> seen<00:04:01.200> as<00:04:01.280> a<00:04:01.360> good<00:04:01.519> thing<00:04:02.159> but<00:04:02.560> at

it has to be seen as a good thing but at

it has to be seen as a good thing but at the<00:04:02.799> same<00:04:03.120> time<00:04:03.439> there<00:04:03.599> is<00:04:03.760> a<00:04:03.840> really

the same time there is a really

the same time there is a really dangerous<00:04:04.720> side<00:04:05.040> to<00:04:05.200> this<00:04:05.439> now<00:04:05.599> in<00:04:05.680> the<00:04:05.760> last

dangerous side to this now in the last

dangerous side to this now in the last one<00:04:06.239> year

one year

one year the<00:04:06.879> number<00:04:07.120> of<00:04:07.200> people<00:04:07.439> using<00:04:07.760> online<00:04:08.319> spread

the number of people using online spread

the number of people using online spread betting<00:04:08.879> websites<00:04:09.360> in<00:04:09.439> this<00:04:09.599> country<00:04:10.000> has

betting websites in this country has

betting websites in this country has exploded

exploded

exploded and<00:04:11.280> that's<00:04:11.519> for<00:04:11.680> a<00:04:11.760> variety<00:04:12.080> of<00:04:12.159> reasons

and that's for a variety of reasons

and that's for a variety of reasons right<00:04:12.560> people<00:04:12.799> can't<00:04:13.040> work<00:04:13.439> you<00:04:13.519> know<00:04:13.760> there's

right people can't work you know there's

right people can't work you know there's no<00:04:14.159> football<00:04:14.400> people<00:04:14.640> don't<00:04:14.720> bet<00:04:14.879> on

no football people don't bet on

no football people don't bet on something

something

something but<00:04:15.599> also<00:04:16.000> people<00:04:16.239> are<00:04:16.320> struggling

but also people are struggling

but also people are struggling financially<00:04:17.280> and<00:04:17.440> they<00:04:17.680> see<00:04:18.079> how<00:04:18.400> well

financially and they see how well

financially and they see how well super<00:04:19.120> rich<00:04:19.280> people<00:04:19.440> are<00:04:19.519> doing<00:04:19.680> on<00:04:19.759> the<00:04:19.840> stock

super rich people are doing on the stock

super rich people are doing on the stock market<00:04:20.239> and<00:04:20.320> they<00:04:20.400> want<00:04:20.479> to<00:04:20.560> be<00:04:20.720> involved<00:04:21.440> my

market and they want to be involved my

market and they want to be involved my concern<00:04:22.160> is

concern is

concern is when<00:04:22.720> they<00:04:22.880> use<00:04:22.960> these<00:04:23.199> online<00:04:23.440> spread

when they use these online spread

when they use these online spread betting<00:04:23.919> websites<00:04:24.560> they<00:04:24.800> don't<00:04:25.040> really<00:04:25.199> know

betting websites they don't really know

betting websites they don't really know what<00:04:25.440> they're<00:04:25.600> doing

what they're doing

what they're doing they're<00:04:26.400> not<00:04:26.560> getting<00:04:26.720> good<00:04:26.880> advice<00:04:27.280> they're

they're not getting good advice they're

they're not getting good advice they're getting<00:04:27.680> dragged<00:04:28.000> into<00:04:28.320> it<00:04:28.400> that<00:04:28.560> i<00:04:28.639> know

getting dragged into it that i know

getting dragged into it that i know people<00:04:29.199> they're<00:04:29.440> trading<00:04:29.840> all<00:04:29.919> the<00:04:30.080> time

people they're trading all the time

people they're trading all the time and<00:04:30.880> essentially<00:04:31.440> i<00:04:31.520> think<00:04:31.680> there<00:04:31.840> are<00:04:31.919> people

and essentially i think there are people

and essentially i think there are people who<00:04:32.400> are<00:04:32.479> potentially<00:04:33.040> developing<00:04:33.440> a

who are potentially developing a

who are potentially developing a gambling<00:04:33.919> addiction<00:04:34.320> and<00:04:34.400> it<00:04:34.479> can<00:04:34.639> be<00:04:34.800> really

gambling addiction and it can be really

gambling addiction and it can be really dangerous<00:04:35.280> and<00:04:35.440> look

dangerous and look

dangerous and look gambling<00:04:36.479> addiction<00:04:36.720> is<00:04:36.800> a<00:04:36.880> serious<00:04:37.120> thing

gambling addiction is a serious thing

gambling addiction is a serious thing can<00:04:37.440> ruin<00:04:37.680> families<00:04:38.000> can<00:04:38.080> ruin<00:04:38.320> lives<00:04:38.639> and<00:04:38.880> you

can ruin families can ruin lives and you

can ruin families can ruin lives and you know<00:04:39.120> people<00:04:39.280> can<00:04:39.440> lose<00:04:39.680> their<00:04:39.919> housing

know people can lose their housing

know people can lose their housing deposits<00:04:40.720> their<00:04:40.880> kids<00:04:41.199> university<00:04:41.680> funds

deposits their kids university funds

deposits their kids university funds so<00:04:42.240> we're<00:04:42.479> just<00:04:42.560> like<00:04:42.720> to<00:04:42.880> really<00:04:43.120> caution

so we're just like to really caution

so we're just like to really caution people<00:04:43.680> out<00:04:43.840> there<00:04:44.000> looking<00:04:44.240> at<00:04:44.320> things<00:04:44.560> like

people out there looking at things like

people out there looking at things like bitcoin<00:04:45.440> as<00:04:45.520> well<00:04:45.680> for<00:04:45.759> example<00:04:46.160> or<00:04:46.400> game<00:04:46.560> stop

bitcoin as well for example or game stop

bitcoin as well for example or game stop thinking

thinking

thinking oh<00:04:47.520> my<00:04:47.680> god<00:04:47.919> i'm<00:04:48.000> missing<00:04:48.320> out<00:04:48.479> i<00:04:48.639> need<00:04:48.720> to<00:04:48.800> get

oh my god i'm missing out i need to get

oh my god i'm missing out i need to get involved<00:04:49.199> on<00:04:49.280> this<00:04:49.759> please<00:04:50.080> please<00:04:50.320> be

involved on this please please be

involved on this please please be cautious<00:04:50.880> these

cautious these

cautious these they're<00:04:51.600> calling<00:04:51.840> them<00:04:52.000> meme<00:04:52.240> stocks<00:04:52.560> on<00:04:52.639> the

they're calling them meme stocks on the

they're calling them meme stocks on the internet<00:04:53.520> if<00:04:53.680> you're<00:04:54.000> hearing<00:04:54.240> about<00:04:54.479> it<00:04:54.560> in

internet if you're hearing about it in

internet if you're hearing about it in the<00:04:54.720> news

the news

the news it's<00:04:55.440> probably<00:04:55.840> too<00:04:56.080> late<00:04:56.240> to<00:04:56.320> make<00:04:56.479> money

it's probably too late to make money

it's probably too late to make money from<00:04:56.800> it<00:04:57.120> you<00:04:57.280> know<00:04:57.520> i<00:04:57.600> wish<00:04:57.840> it<00:04:57.919> was<00:04:58.080> as<00:04:58.240> easy

from it you know i wish it was as easy

from it you know i wish it was as easy as<00:04:58.639> that

as that

as that but<00:04:59.440> please<00:04:59.759> people<00:05:00.080> out<00:05:00.240> there<00:05:00.720> listening<00:05:01.199> to

but please people out there listening to

but please people out there listening to this<00:05:01.919> be<00:05:02.080> careful<00:05:02.479> don't<00:05:02.720> rush<00:05:02.960> in<00:05:03.120> there

this be careful don't rush in there

this be careful don't rush in there don't

don't

don't gamble<00:05:04.080> more<00:05:04.240> than<00:05:04.320> you<00:05:04.400> can<00:05:04.639> afford<00:05:04.880> to<00:05:04.960> lose

gamble more than you can afford to lose

gamble more than you can afford to lose and<00:05:05.680> these<00:05:06.240> investments<00:05:06.720> that<00:05:06.800> are<00:05:06.880> in<00:05:06.960> the

and these investments that are in the

and these investments that are in the news<00:05:07.280> right<00:05:07.440> now

news right now

news right now bitcoin<00:05:08.479> cryptocurrencies<00:05:09.600> definitely

bitcoin cryptocurrencies definitely

bitcoin cryptocurrencies definitely gamestop<00:05:10.560> are<00:05:10.720> very<00:05:10.880> risky<00:05:11.120> investments<00:05:11.600> and

gamestop are very risky investments and

gamestop are very risky investments and i<00:05:11.840> would

i would

i would to<00:05:12.320> be<00:05:12.400> honest<00:05:12.639> advise<00:05:12.960> ordinary<00:05:13.280> people<00:05:13.520> to

to be honest advise ordinary people to

to be honest advise ordinary people to stay<00:05:13.840> out<00:05:14.000> or<00:05:14.160> at<00:05:14.240> least<00:05:14.560> invest<00:05:14.960> very<00:05:15.280> very

stay out or at least invest very very

stay out or at least invest very very very<00:05:16.080> sensibly<00:05:16.720> is<00:05:16.800> there<00:05:16.960> going<00:05:17.039> to<00:05:17.120> be<00:05:17.199> a

very sensibly is there going to be a

very sensibly is there going to be a fallout<00:05:17.759> from<00:05:17.919> this<00:05:18.080> gary<00:05:18.400> is<00:05:18.479> there<00:05:18.560> going<00:05:18.639> to

fallout from this gary is there going to

fallout from this gary is there going to be<00:05:18.880> change<00:05:19.280> will<00:05:19.520> regulators<00:05:20.160> have<00:05:20.400> to<00:05:20.479> get

be change will regulators have to get

be change will regulators have to get involved

involved

involved well<00:05:22.400> i<00:05:22.479> mean<00:05:23.120> they're<00:05:23.759> i<00:05:23.919> would<00:05:24.080> love<00:05:24.240> to<00:05:24.400> have

well i mean they're i would love to have

well i mean they're i would love to have been

been

been a<00:05:25.039> fly<00:05:25.360> on<00:05:25.520> the<00:05:25.600> wall<00:05:26.560> in<00:05:26.639> the<00:05:26.800> robin<00:05:27.039> hood

a fly on the wall in the robin hood

a fly on the wall in the robin hood offices<00:05:27.680> when<00:05:27.840> they<00:05:28.000> decided<00:05:28.320> to<00:05:28.400> ban<00:05:28.639> trading

offices when they decided to ban trading

offices when they decided to ban trading i'm<00:05:29.280> sure<00:05:29.440> he<00:05:29.520> would<00:05:29.759> ask<00:05:29.919> robin<00:05:30.240> hood

i'm sure he would ask robin hood

i'm sure he would ask robin hood they<00:05:31.120> would<00:05:31.280> say<00:05:31.440> they<00:05:31.600> are<00:05:31.680> protecting<00:05:32.960> their

they would say they are protecting their

they would say they are protecting their customers<00:05:33.919> from<00:05:34.160> extreme<00:05:34.479> volatility

customers from extreme volatility

customers from extreme volatility and<00:05:35.840> you<00:05:36.000> know<00:05:36.160> like<00:05:36.400> i've<00:05:36.560> just<00:05:36.720> said<00:05:37.039> this<00:05:37.280> is

and you know like i've just said this is

and you know like i've just said this is potentially<00:05:37.840> dangerous<00:05:38.160> for<00:05:38.320> customers<00:05:38.800> so

potentially dangerous for customers so

potentially dangerous for customers so they've<00:05:39.759> got<00:05:39.840> their<00:05:40.000> right<00:05:40.160> to<00:05:40.320> say<00:05:40.479> that<00:05:40.639> i

they've got their right to say that i

they've got their right to say that i don't<00:05:40.880> know<00:05:41.039> what's<00:05:41.199> true<00:05:41.280> or<00:05:41.440> what's<00:05:41.600> fast

don't know what's true or what's fast

don't know what's true or what's fast but<00:05:42.479> there<00:05:42.720> is<00:05:42.800> definitely

but there is definitely

but there is definitely possibility<00:05:44.240> there's<00:05:44.320> going<00:05:44.479> to<00:05:44.479> be

possibility there's going to be

possibility there's going to be regulation<00:05:45.039> you<00:05:45.199> know<00:05:45.360> i<00:05:45.440> go<00:05:45.600> on<00:05:45.680> this<00:05:45.919> reddit

regulation you know i go on this reddit

regulation you know i go on this reddit message<00:05:46.479> board

message board

message board they<00:05:47.120> insist<00:05:47.440> they're<00:05:47.520> going<00:05:47.600> to<00:05:47.680> do<00:05:47.840> a

they insist they're going to do a

they insist they're going to do a class-action<00:05:48.479> lawsuit<00:05:48.960> against<00:05:49.120> robin<00:05:49.440> hood

class-action lawsuit against robin hood

class-action lawsuit against robin hood i've<00:05:50.400> got<00:05:50.560> neither<00:05:50.880> where<00:05:50.960> that's<00:05:51.199> going<00:05:51.280> to

i've got neither where that's going to

i've got neither where that's going to happen<00:05:52.000> um<00:05:52.639> what<00:05:52.880> i<00:05:53.039> do<00:05:53.199> think<00:05:53.440> is<00:05:53.520> important

happen um what i do think is important

happen um what i do think is important is<00:05:54.080> to<00:05:54.160> realize<00:05:54.479> that<00:05:54.639> this<00:05:54.880> is<00:05:54.960> not<00:05:55.120> a<00:05:55.199> one-off

is to realize that this is not a one-off

is to realize that this is not a one-off it's<00:05:55.680> going<00:05:55.759> to<00:05:55.840> keep<00:05:56.000> happening<00:05:56.319> and<00:05:56.479> that<00:05:56.639> is

it's going to keep happening and that is

it's going to keep happening and that is because<00:05:56.960> of<00:05:57.039> the<00:05:57.120> way<00:05:57.280> that<00:05:57.440> governments<00:05:57.919> have

because of the way that governments have

because of the way that governments have dealt<00:05:58.240> with<00:05:58.400> the<00:05:58.479> coronavirus<00:05:59.039> crisis

dealt with the coronavirus crisis

dealt with the coronavirus crisis now<00:05:59.919> the<00:06:00.000> money<00:06:00.240> they<00:06:00.400> used<00:06:00.639> for<00:06:00.800> the<00:06:00.880> furlough

now the money they used for the furlough

now the money they used for the furlough scheme<00:06:01.440> for<00:06:01.520> example<00:06:02.080> they<00:06:02.240> didn't<00:06:02.560> raise

scheme for example they didn't raise

scheme for example they didn't raise taxes<00:06:03.120> and<00:06:03.280> they<00:06:03.360> didn't<00:06:03.520> borrow<00:06:03.759> that<00:06:03.840> money

taxes and they didn't borrow that money

taxes and they didn't borrow that money they<00:06:04.240> simply<00:06:04.479> printed<00:06:04.960> it

they simply printed it

they simply printed it at<00:06:05.440> the<00:06:05.520> bank<00:06:05.759> of<00:06:05.919> england<00:06:06.479> and<00:06:06.560> that<00:06:06.720> means

at the bank of england and that means

at the bank of england and that means there's<00:06:07.120> been<00:06:07.280> a<00:06:07.360> flood<00:06:07.680> of<00:06:07.840> extra<00:06:08.080> cash<00:06:08.319> into

there's been a flood of extra cash into

there's been a flood of extra cash into the<00:06:08.639> system

the system

the system that<00:06:09.280> cash<00:06:09.520> is<00:06:09.680> swirling<00:06:09.919> around<00:06:10.319> and<00:06:10.400> it's

that cash is swirling around and it's

that cash is swirling around and it's largely<00:06:11.039> sitting<00:06:11.600> with<00:06:11.759> richer<00:06:12.160> people

largely sitting with richer people

largely sitting with richer people and<00:06:12.960> it's<00:06:13.120> a<00:06:13.199> huge<00:06:13.360> amount<00:06:13.680> it's<00:06:13.759> ten<00:06:14.000> thousand

and it's a huge amount it's ten thousand

and it's a huge amount it's ten thousand pounds<00:06:14.960> per<00:06:15.199> adult<00:06:15.440> in<00:06:15.600> this<00:06:15.680> country<00:06:15.919> that's

pounds per adult in this country that's

pounds per adult in this country that's been<00:06:16.160> printed<00:06:16.479> and<00:06:16.639> it's<00:06:16.720> the<00:06:16.800> same<00:06:17.039> in<00:06:17.120> the

been printed and it's the same in the

been printed and it's the same in the u.s<00:06:17.360> or<00:06:17.440> a<00:06:17.520> similar<00:06:17.840> amount

u.s or a similar amount

u.s or a similar amount that<00:06:18.960> money<00:06:19.199> swimming<00:06:19.520> around<00:06:19.759> is<00:06:19.919> sitting

that money swimming around is sitting

that money swimming around is sitting with<00:06:20.240> richard<00:06:20.560> people<00:06:20.880> they're<00:06:21.039> going<00:06:21.120> to<00:06:21.199> use

with richard people they're going to use

with richard people they're going to use it<00:06:21.440> to<00:06:21.520> push<00:06:21.680> up<00:06:21.759> stock<00:06:22.000> markets

it to push up stock markets

it to push up stock markets to<00:06:22.800> push<00:06:23.039> up<00:06:23.280> property<00:06:23.680> prices<00:06:24.160> and<00:06:24.319> ordinary

to push up property prices and ordinary

to push up property prices and ordinary people<00:06:24.960> are<00:06:25.039> going<00:06:25.120> to<00:06:25.199> want<00:06:25.280> to<00:06:25.360> get<00:06:25.440> involved

people are going to want to get involved

people are going to want to get involved in<00:06:25.840> that<00:06:26.080> so<00:06:26.240> i<00:06:26.319> think<00:06:26.479> people<00:06:26.639> need<00:06:26.720> to<00:06:26.800> be

in that so i think people need to be

in that so i think people need to be aware<00:06:27.199> that<00:06:27.440> that's<00:06:27.680> what's<00:06:27.840> happening

aware that that's what's happening

aware that that's what's happening that's<00:06:28.720> what<00:06:28.800> the<00:06:28.880> government's<00:06:29.280> doing<00:06:29.600> and

that's what the government's doing and

that's what the government's doing and it<00:06:30.160> is<00:06:30.319> going<00:06:30.400> to<00:06:30.479> affect<00:06:30.720> ordinary<00:06:32.840> people

it is going to affect ordinary people

it is going to affect ordinary people and<00:06:35.919> that's<00:06:36.160> the<00:06:36.319> leader<00:06:36.560> we're<00:06:36.800> back<00:06:37.039> at<00:06:37.280> 4pm

and that's the leader we're back at 4pm

and that's the leader we're back at 4pm on<00:06:38.000> monday<00:06:38.639> see<00:06:38.800> you<00:06:38.880> then