afford to lose money my
worry<00:00:03.760> is<00:00:04.720> when<00:00:04.960> it<00:00:05.040> pops<00:00:05.920> a<00:00:06.000> lot<00:00:06.160> of
worry is when it pops a lot of
other<00:00:06.560> people<00:00:06.799> are<00:00:06.879> going<00:00:06.879> to<00:00:06.960> lose<00:00:07.120> money<00:00:07.440> and
other people are going to lose money and
maybe<00:00:07.759> there<00:00:07.919> will<00:00:08.000> be<00:00:08.160> people<00:00:08.320> who<00:00:08.400> can't
my name is gary stevenson i work for
years<00:00:11.679> in<00:00:11.840> the<00:00:11.920> city<00:00:12.480> betting<00:00:12.799> on<00:00:12.880> financial
i'm going to tell you what's happening
with<00:00:16.560> gamestop<00:00:17.359> what<00:00:17.520> it<00:00:17.600> means<00:00:17.840> for<00:00:17.920> the
with gamestop what it means for the
global<00:00:18.240> economy<00:00:18.800> and<00:00:18.880> how<00:00:19.039> it's<00:00:19.199> going<00:00:19.279> to
it's a not strong company
if<00:00:39.920> we<00:00:40.079> go<00:00:40.320> and<00:00:40.399> buy<00:00:40.559> all<00:00:40.719> the<00:00:40.800> stock<00:00:41.440> then<00:00:41.600> when
if we go and buy all the stock then when
they<00:00:42.000> come<00:00:42.160> back<00:00:42.480> to<00:00:42.719> renew<00:00:43.040> their<00:00:43.280> loans<00:00:43.840> of
the stock they're borrowings of the
stock<00:00:45.440> we<00:00:45.520> can<00:00:45.600> say<00:00:45.760> no<00:00:45.920> we're<00:00:46.079> not<00:00:46.160> going<00:00:46.239> to
give it to you
so<00:00:47.920> they<00:00:48.160> just<00:00:48.399> created<00:00:48.719> a<00:00:48.879> sort<00:00:49.039> of<00:00:49.520> an<00:00:49.760> army
so they just created a sort of an army
of<00:00:50.160> people<00:00:50.480> to<00:00:50.559> go<00:00:50.719> out<00:00:50.879> buy<00:00:51.039> a<00:00:51.120> game<00:00:51.280> stop
of people to go out buy a game stop
massively<00:00:52.879> push<00:00:53.039> the<00:00:53.199> price<00:00:53.520> up<00:00:53.920> not<00:00:54.160> loan<00:00:54.399> it
massively push the price up not loan it
out<00:00:54.640> to<00:00:54.719> any<00:00:54.879> hedge<00:00:55.120> funds<00:00:55.360> and<00:00:55.440> then<00:00:55.600> when<00:00:55.760> the
they couldn't do it so they had to buy
it<00:01:01.520> back<00:01:02.079> and<00:01:02.160> the<00:01:02.320> price<00:01:02.559> by<00:01:02.719> then<00:01:03.039> is
it back and the price by then is
10<00:01:03.760> times<00:01:04.080> as<00:01:04.239> much<00:01:04.559> so<00:01:04.720> these<00:01:04.879> guys<00:01:05.119> bought<00:01:05.360> it
10 times as much so these guys bought it
here<00:01:06.400> held<00:01:06.720> it<00:01:06.880> so<00:01:07.040> the<00:01:07.200> hedge<00:01:07.360> funds<00:01:07.600> couldn't
here held it so the hedge funds couldn't
have<00:01:07.920> it<00:01:08.000> and<00:01:08.080> they<00:01:08.240> had<00:01:08.400> sold<00:01:08.640> it<00:01:08.720> back<00:01:08.960> in
which obviously when the hedge funds
bought<00:01:10.640> it<00:01:10.720> again<00:01:11.520> pushes<00:01:11.840> the<00:01:11.920> price<00:01:12.159> even
some instances where like hedge funds
have<00:01:15.360> done<00:01:15.520> it<00:01:15.600> with<00:01:15.759> like<00:01:16.000> food<00:01:16.240> like<00:01:16.479> wheat
have done it with like food like wheat
they've<00:01:17.280> put<00:01:17.439> all<00:01:17.600> the<00:01:17.759> wheat<00:01:18.320> and<00:01:18.400> then<00:01:18.560> the
people well obviously you need wheat
they<00:01:20.799> say<00:01:20.960> oh<00:01:21.119> well<00:01:21.439> they<00:01:21.600> push<00:01:21.759> the<00:01:21.840> price<00:01:22.159> up
you just the idea is
one<00:01:24.000> person<00:01:24.320> one<00:01:24.479> group<00:01:24.640> of<00:01:24.720> people<00:01:24.960> buys<00:01:25.280> all
one person one group of people buys all
of<00:01:25.600> it<00:01:26.159> corners<00:01:26.560> it<00:01:26.640> and<00:01:26.720> then<00:01:26.799> the<00:01:26.880> people
of it corners it and then the people
that<00:01:27.200> need<00:01:27.520> it<00:01:27.680> have<00:01:27.840> to<00:01:27.920> pay<00:01:28.080> inflated<00:01:28.479> prices
that need it have to pay inflated prices
i<00:01:29.200> guess<00:01:29.360> what<00:01:29.520> is<00:01:29.759> new<00:01:30.000> here<00:01:30.400> is<00:01:31.119> it's<00:01:31.360> been
electricians and taxi drivers at home
training<00:01:43.600> on<00:01:43.680> their<00:01:43.840> laptops<00:01:44.240> in<00:01:44.399> the<00:01:44.479> kitchen
training on their laptops in the kitchen
to<00:01:45.280> be<00:01:45.360> honest<00:01:45.920> given<00:01:46.240> the<00:01:46.320> level<00:01:46.560> of
the truth is there is a large army of
ordinary<00:01:51.759> people<00:01:51.920> who<00:01:52.000> are<00:01:52.079> sitting<00:01:52.320> at<00:01:52.479> home
ordinary people who are sitting at home
it's<00:01:53.680> largely<00:01:54.079> americans<00:01:54.560> you<00:01:54.640> know<00:01:54.799> not<00:01:54.960> all
using their stimulus checks which
they're<00:01:58.320> getting<00:01:58.719> while<00:01:58.960> you<00:01:59.119> know<00:01:59.200> a<00:01:59.280> lot<00:01:59.439> of
to i guess they would see as fight
against<00:02:02.560> the<00:02:02.640> big<00:02:02.799> piles<00:02:03.040> of<00:02:03.600> wall<00:02:03.840> street
against the big piles of wall street
is<00:02:04.799> the<00:02:05.040> issue<00:02:05.920> that<00:02:06.240> wall<00:02:06.560> street<00:02:06.880> has<00:02:07.840> with
and not wall street
if<00:02:14.640> it<00:02:14.800> was<00:02:14.959> wall<00:02:15.120> street<00:02:15.360> banks<00:02:15.680> making<00:02:15.920> a
if it was wall street banks making a
fortune<00:02:16.400> on<00:02:16.480> this<00:02:17.040> then<00:02:17.280> there<00:02:17.440> would<00:02:17.599> be<00:02:17.840> less
fortune on this then there would be less
of<00:02:18.160> an<00:02:18.319> outcry<00:02:18.800> from<00:02:18.959> the<00:02:19.040> wall<00:02:19.200> street<00:02:19.440> banks
i've worked in wall street i wasn't
involved<00:02:22.319> in<00:02:22.400> the<00:02:22.480> big<00:02:22.640> level<00:02:22.879> politics<00:02:23.280> or
the lobbying of it but
these<00:02:24.720> guys<00:02:24.959> are<00:02:25.040> out<00:02:25.120> to<00:02:25.280> make<00:02:25.440> money<00:02:25.840> these
these guys are out to make money these
guys<00:02:26.239> are<00:02:26.480> to<00:02:26.560> keep<00:02:26.800> power<00:02:27.120> and<00:02:27.200> to<00:02:27.360> keep
you need to put it in context right
first<00:02:33.680> of<00:02:33.760> all<00:02:33.840> when<00:02:34.000> the<00:02:34.080> koi<00:02:34.239> with<00:02:34.400> crisis
first of all when the koi with crisis
what's<00:02:34.959> happened<00:02:35.280> is<00:02:35.840> a<00:02:35.920> lot<00:02:36.000> of<00:02:36.080> people<00:02:36.319> a<00:02:36.400> lot
but what's important is to understand
it's<00:02:43.120> been<00:02:43.280> way<00:02:43.519> more<00:02:43.680> awful<00:02:44.000> than<00:02:44.080> some<00:02:44.239> of
it's been way more awful than some of
them<00:02:44.400> for<00:02:44.560> others<00:02:44.800> right<00:02:45.040> the<00:02:45.360> richest<00:02:45.680> 10
people in the world
have<00:02:46.879> made<00:02:47.120> enough<00:02:47.360> money<00:02:47.760> just<00:02:47.920> last<00:02:48.160> year<00:02:48.720> to
have made enough money just last year to
pay<00:02:49.040> for<00:02:49.200> covered<00:02:49.519> vaccines<00:02:49.920> for<00:02:50.000> the<00:02:50.160> entire
fortune here while ordinary people
are<00:02:55.360> sitting<00:02:55.599> at<00:02:55.760> home<00:02:56.800> lost<00:02:57.040> their<00:02:57.120> jobs<00:02:57.760> you
been given the kind of support that
we've<00:03:00.720> been<00:03:00.800> given<00:03:00.959> in<00:03:01.040> the<00:03:01.120> uk<00:03:01.440> which<00:03:01.760> you
and that comes on top of a context of
since<00:03:08.640> the<00:03:08.800> 2008<00:03:09.360> crisis<00:03:09.680> what<00:03:09.760> has<00:03:09.920> happened
since the 2008 crisis what has happened
the<00:03:10.640> 2008<00:03:11.280> crisis<00:03:11.760> the<00:03:11.840> economy<00:03:12.239> has<00:03:12.319> been
so we've been living in a world here
where<00:03:21.360> ordinary<00:03:21.840> people<00:03:22.080> the<00:03:22.159> wages<00:03:22.560> don't<00:03:22.720> go
up the jobs don't get better
yeah<00:03:24.959> i<00:03:25.040> think<00:03:25.280> at<00:03:25.440> the<00:03:25.519> very<00:03:25.760> heart<00:03:25.920> of<00:03:26.080> it
yeah i think at the very heart of it
what<00:03:26.319> is<00:03:26.400> it<00:03:26.560> is<00:03:26.640> work<00:03:26.879> isn't<00:03:27.120> working
what is it is work isn't working
work<00:03:28.400> don't<00:03:28.640> work<00:03:28.959> will<00:03:29.040> not<00:03:29.200> buy<00:03:29.360> you<00:03:29.519> a<00:03:29.599> house
work don't work will not buy you a house
in<00:03:29.920> london<00:03:30.239> you<00:03:30.400> know<00:03:30.480> what<00:03:30.480> i<00:03:30.560> mean
in london you know what i mean
i'm<00:03:31.280> 34<00:03:31.840> people<00:03:32.080> my<00:03:32.239> age<00:03:32.480> who<00:03:32.560> work<00:03:32.799> a<00:03:32.879> job<00:03:33.120> who
i'm 34 people my age who work a job who
don't<00:03:33.360> have<00:03:33.680> don't<00:03:33.840> come<00:03:34.000> from<00:03:34.159> rich<00:03:34.319> families
you cannot buy a house
no<00:03:37.040> and<00:03:37.280> but<00:03:37.440> then<00:03:37.599> they<00:03:37.760> see<00:03:38.000> city<00:03:38.319> traders<00:03:38.799> or
a world where work doesn't work
and<00:03:44.480> wild<00:03:44.879> gambling<00:03:45.360> seems<00:03:45.680> to<00:03:45.760> be<00:03:45.920> able<00:03:46.000> to
and wild gambling seems to be able to
make<00:03:46.319> you<00:03:46.400> money<00:03:46.959> and<00:03:47.120> it<00:03:47.200> only<00:03:47.440> seems<00:03:47.599> to<00:03:47.680> go
of course ordinary people they're not
idiots<00:03:50.640> they're<00:03:50.799> going<00:03:50.879> to<00:03:50.959> say<00:03:51.120> we<00:03:51.200> want<00:03:51.360> a
but i don't want to frame that as if
this<00:03:54.879> is<00:03:54.959> a<00:03:55.040> massive<00:03:55.439> success<00:03:55.840> for<00:03:56.000> the
ordinary person
because<00:03:57.920> the<00:03:58.080> truth<00:03:58.400> is<00:03:58.640> that<00:03:58.799> gamestop<00:03:59.200> is<00:03:59.360> up
because the truth is that gamestop is up
forever<00:04:00.319> maybe<00:04:00.560> it's<00:04:00.799> maybe<00:04:01.040> it's<00:04:01.120> 2<00:04:01.360> 000
and when that collapses who's going to
be<00:04:08.000> holding<00:04:08.319> it<00:04:08.480> i'll<00:04:08.640> put<00:04:08.879> you<00:04:09.040> any<00:04:09.200> money
be holding it i'll put you any money
it's<00:04:09.680> regular<00:04:10.159> people<00:04:10.480> who<00:04:10.720> are<00:04:10.799> sitting<00:04:11.120> out
saving up their money who've been
working<00:04:14.159> hard<00:04:14.400> jobs<00:04:14.720> trying<00:04:14.879> to<00:04:14.959> make<00:04:15.120> money
probably going to be ordinary people
i<00:04:20.239> don't<00:04:20.400> want<00:04:20.479> to<00:04:20.560> give<00:04:20.639> people<00:04:20.880> the
impression that you know ordinary
you<00:04:23.040> know<00:04:23.360> the<00:04:23.520> working<00:04:23.919> man<00:04:24.240> can<00:04:24.400> take<00:04:24.560> that
and it can be very dangerous it's
gambling<00:04:35.600> it<00:04:35.680> can<00:04:35.840> be<00:04:35.919> addictive<00:04:36.320> it<00:04:36.400> can<00:04:36.560> ruin
understand the story i can see
inequality<00:04:42.320> blowing<00:04:42.560> up<00:04:42.639> listen<00:04:42.960> i<00:04:43.040> come<00:04:43.199> from
i'm rich now i totally see what is
happening<00:04:46.960> in<00:04:46.960> the<00:04:47.040> world<00:04:47.280> and<00:04:47.440> i<00:04:47.520> understand
how it affects people
but<00:04:49.280> we<00:04:49.520> are<00:04:49.680> not<00:04:49.840> gonna<00:04:50.720> save<00:04:51.120> the<00:04:51.199> world<00:04:51.520> by
to be crying myself to sleep about huh
i<00:05:12.000> used<00:05:12.160> to<00:05:12.240> work<00:05:12.400> in<00:05:12.479> the<00:05:12.560> city<00:05:12.800> and<00:05:12.880> i<00:05:12.960> don't
want to give you the impression that
it's<00:05:14.240> full<00:05:14.479> of<00:05:14.720> full<00:05:14.960> of<00:05:15.120> [ __ ]<00:05:15.600> or<00:05:15.759> full
some but um there's also a lot of good
people<00:05:20.240> there<00:05:20.400> just<00:05:20.479> trying<00:05:20.639> to<00:05:20.720> make<00:05:20.880> money
people there just trying to make money
for<00:05:21.120> their<00:05:21.280> families<00:05:21.520> you<00:05:21.600> know<00:05:21.759> that's<00:05:21.919> what
for their families you know that's what
i<00:05:22.080> was<00:05:22.240> trying<00:05:22.400> to<00:05:22.479> do<00:05:22.720> you<00:05:22.800> know<00:05:22.880> what<00:05:22.880> i<00:05:22.960> mean
i was trying to do you know what i mean
um<00:05:24.160> i<00:05:24.320> don't<00:05:24.479> want<00:05:24.560> to<00:05:24.639> create<00:05:24.880> this<00:05:25.039> good<00:05:25.199> and
evil narrative but um
look<00:05:27.520> a<00:05:27.600> lot<00:05:27.759> of<00:05:27.840> those<00:05:28.000> guys<00:05:28.320> lost<00:05:28.479> money<00:05:28.720> they
my worry is when it pops
a<00:05:33.440> lot<00:05:33.600> of<00:05:33.840> other<00:05:34.000> people<00:05:34.160> are<00:05:34.320> going<00:05:34.400> to<00:05:34.400> lose
a lot of other people are going to lose
money<00:05:34.880> and<00:05:34.960> maybe<00:05:35.199> there<00:05:35.360> will<00:05:35.440> be<00:05:35.600> people<00:05:35.759> who