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GAMESTOP: How Reddit users exposed Wall Street - Gary on JOE with Wayne Farry

February 01, 2021
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a<00:00:00.160> lot<00:00:00.320> of<00:00:00.399> those<00:00:00.560> guys<00:00:00.880> lost<00:00:01.040> money<00:00:01.280> they<00:00:01.360> can

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a lot of those guys lost money they can

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a lot of those guys lost money they can afford<00:00:01.680> to<00:00:01.760> lose<00:00:02.000> money<00:00:02.639> my

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afford to lose money my

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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

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worry is when it pops a lot of

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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

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other people are going to lose money and

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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

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maybe there will be people who can't

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maybe there will be people who can't afford<00:00:08.960> it

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afford it

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afford it my<00:00:09.760> name<00:00:09.920> is<00:00:10.000> gary<00:00:10.240> stevenson<00:00:10.960> i<00:00:11.120> work<00:00:11.360> for

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my name is gary stevenson i work for

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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

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years in the city betting on financial

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years in the city betting on financial markets<00:00:13.679> and<00:00:13.759> now<00:00:13.920> i'm<00:00:14.000> an<00:00:14.160> equality

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markets and now i'm an equality

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markets and now i'm an equality economist

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economist

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economist i'm<00:00:15.599> going<00:00:15.679> to<00:00:15.759> tell<00:00:15.839> you<00:00:16.000> what's<00:00:16.160> happening

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i'm going to tell you what's happening

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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

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with gamestop what it means for the

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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

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global economy and how it's going to

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global economy and how it's going to affect<00:00:19.600> you

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affect you

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affect you there's<00:00:20.400> a<00:00:20.720> section<00:00:21.039> of<00:00:21.119> reddit<00:00:21.359> called<00:00:21.600> wall

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there's a section of reddit called wall

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there's a section of reddit called wall street<00:00:22.080> vet<00:00:23.039> it's<00:00:23.359> full<00:00:23.600> of

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street vet it's full of

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street vet it's full of some<00:00:25.119> interesting<00:00:25.599> people<00:00:25.920> very<00:00:26.080> passionate

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some interesting people very passionate

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some interesting people very passionate about<00:00:26.720> markets

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about markets

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about markets and<00:00:28.720> some<00:00:28.880> of<00:00:28.960> them<00:00:29.039> are<00:00:29.119> clearly<00:00:29.359> very

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and some of them are clearly very

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and some of them are clearly very intelligent<00:00:30.080> some<00:00:30.240> people<00:00:30.400> went<00:00:30.640> on<00:00:30.720> there

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intelligent some people went on there

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intelligent some people went on there and<00:00:31.359> said<00:00:31.599> look

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and said look

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and said look some<00:00:32.480> hedge<00:00:32.800> funds<00:00:33.280> have<00:00:33.520> put<00:00:33.840> massive<00:00:34.239> short

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some hedge funds have put massive short

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some hedge funds have put massive short bets<00:00:35.040> on

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bets on

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bets on this<00:00:35.840> company<00:00:36.239> gamestop<00:00:36.719> because<00:00:36.880> they<00:00:37.040> think

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this company gamestop because they think

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this company gamestop because they think it's<00:00:37.440> a<00:00:38.079> not<00:00:38.239> strong<00:00:38.480> company

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it's a not strong company

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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

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if we go and buy all the stock then when

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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

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they come back to renew their loans of

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they come back to renew their loans of the<00:00:44.160> stock<00:00:44.399> they're<00:00:44.559> borrowings<00:00:44.960> of<00:00:45.039> the

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the stock they're borrowings of the

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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

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stock we can say no we're not going to

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stock we can say no we're not going to give<00:00:46.480> it<00:00:46.559> to<00:00:46.640> you

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give it to you

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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

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so they just created a sort of an army

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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

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of people to go out buy a game stop

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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

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massively push the price up not loan it

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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

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out to any hedge funds and then when the

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out to any hedge funds and then when the hedge<00:00:56.079> funds

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hedge funds

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hedge funds had<00:00:56.800> to<00:00:56.960> renew<00:00:57.280> their<00:00:57.440> borrowings<00:00:57.920> of<00:00:58.079> the

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had to renew their borrowings of the

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had to renew their borrowings of the stock<00:00:58.559> to<00:00:58.879> sustain<00:00:59.280> their<00:00:59.440> shore

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stock to sustain their shore

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stock to sustain their shore they<00:01:00.239> couldn't<00:01:00.480> do<00:01:00.640> it<00:01:00.719> so<00:01:00.879> they<00:01:01.039> had<00:01:01.120> to<00:01:01.280> buy

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they couldn't do it so they had to buy

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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

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it back and the price by then is

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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

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10 times as much so these guys bought it

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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

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here held it so the hedge funds couldn't

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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

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have it and they had sold it back in

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have it and they had sold it back in which<00:01:09.200> obviously<00:01:09.600> when<00:01:09.680> the<00:01:09.760> hedge<00:01:10.000> funds

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which obviously when the hedge funds

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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

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bought it again pushes the price even

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bought it again pushes the price even further<00:01:12.640> up<00:01:13.040> historically<00:01:13.600> there've<00:01:13.760> been

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further up historically there've been

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further up historically there've been some<00:01:14.159> instances<00:01:14.560> where<00:01:14.720> like<00:01:14.880> hedge<00:01:15.119> funds

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some instances where like hedge funds

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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

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have done it with like food like wheat

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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

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they've put all the wheat and then the

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they've put all the wheat and then the people<00:01:19.040> well<00:01:19.200> obviously<00:01:19.520> you<00:01:19.680> need<00:01:20.000> wheat

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people well obviously you need wheat

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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

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they say oh well they push the price up

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they say oh well they push the price up you<00:01:22.320> just<00:01:23.119> the<00:01:23.280> idea<00:01:23.600> is

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you just the idea is

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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

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one person one group of people buys all

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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

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of it corners it and then the people

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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

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that need it have to pay inflated prices

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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

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i guess what is new here is it's been

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i guess what is new here is it's been orchestrated

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orchestrated

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orchestrated on<00:01:32.799> an<00:01:33.040> internet<00:01:33.840> messaging<00:01:34.320> board<00:01:34.960> uh<00:01:35.119> which

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on an internet messaging board uh which

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on an internet messaging board uh which is<00:01:35.520> not

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is not

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is not traditionally<00:01:36.240> how<00:01:36.320> it's<00:01:36.479> been<00:01:36.880> you<00:01:36.960> know<00:01:37.360> the

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traditionally how it's been you know the

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traditionally how it's been you know the big<00:01:37.759> narrative<00:01:38.240> is<00:01:38.400> it's<00:01:38.560> um

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big narrative is it's um

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big narrative is it's um a<00:01:39.520> load<00:01:39.920> of<00:01:40.400> you<00:01:40.479> know<00:01:40.880> plumbers<00:01:41.360> and

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a load of you know plumbers and

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a load of you know plumbers and electricians<00:01:42.000> and<00:01:42.159> taxi<00:01:42.479> drivers<00:01:42.880> at<00:01:42.960> home

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electricians and taxi drivers at home

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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

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training on their laptops in the kitchen

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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

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to be honest given the level of

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to be honest given the level of sophistication<00:01:47.280> i<00:01:47.360> suspect<00:01:47.759> there<00:01:48.000> are<00:01:48.159> some

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sophistication i suspect there are some

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sophistication i suspect there are some professionals<00:01:48.880> involved<00:01:49.280> but

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professionals involved but

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professionals involved but the<00:01:50.000> truth<00:01:50.320> is<00:01:50.399> there<00:01:50.640> is<00:01:50.720> a<00:01:50.799> large<00:01:51.040> army<00:01:51.200> of

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the truth is there is a large army of

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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

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ordinary people who are sitting at home

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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

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it's largely americans you know not all

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it's largely americans you know not all americans<00:01:55.520> but<00:01:55.680> largely<00:01:56.000> americans

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americans but largely americans

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americans but largely americans using<00:01:57.040> their<00:01:57.200> stimulus<00:01:57.759> checks<00:01:58.000> which

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using their stimulus checks which

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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

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they're getting while you know a lot of

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they're getting while you know a lot of them<00:01:59.600> can't<00:01:59.840> work

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them can't work

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them can't work to<00:02:01.040> i<00:02:01.119> guess<00:02:01.360> they<00:02:01.439> would<00:02:01.600> see<00:02:01.840> as<00:02:02.079> fight

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to i guess they would see as fight

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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

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against the big piles of wall street

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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

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is the issue that wall street has with

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is the issue that wall street has with this<00:02:08.399> now

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this now

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this now the<00:02:09.440> behavior<00:02:10.000> or<00:02:10.160> the<00:02:10.239> fact<00:02:10.479> that<00:02:10.640> it's<00:02:10.879> other

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the behavior or the fact that it's other

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the behavior or the fact that it's other people<00:02:11.680> who<00:02:11.840> are<00:02:11.920> manipulating<00:02:12.480> the<00:02:12.560> market

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people who are manipulating the market

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people who are manipulating the market and<00:02:13.120> not<00:02:13.360> wall<00:02:13.520> street

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and not wall street

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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

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if it was wall street banks making a

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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

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fortune on this then there would be less

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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

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of an outcry from the wall street banks

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of an outcry from the wall street banks i<00:02:19.840> mean

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i mean

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i mean i've<00:02:20.400> worked<00:02:20.640> in<00:02:20.720> wall<00:02:20.879> street<00:02:21.680> i<00:02:21.840> wasn't

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i've worked in wall street i wasn't

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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

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involved in the big level politics or

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involved in the big level politics or the<00:02:23.440> lobbying<00:02:23.840> of<00:02:24.000> it<00:02:24.080> but

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the lobbying of it but

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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

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these guys are out to make money these

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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

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guys are to keep power and to keep

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guys are to keep power and to keep market

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market

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market you<00:02:28.239> know<00:02:28.400> market<00:02:28.800> power<00:02:29.360> i<00:02:29.440> mean<00:02:29.680> i<00:02:29.760> can

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you know market power i mean i can

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you know market power i mean i can understand<00:02:30.239> what's<00:02:30.400> happening<00:02:30.720> right<00:02:30.879> look<00:02:31.200> i

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understand what's happening right look i

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understand what's happening right look i think

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think

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think you<00:02:31.680> need<00:02:31.840> to<00:02:31.920> put<00:02:32.080> it<00:02:32.160> in<00:02:32.239> context<00:02:32.640> right

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you need to put it in context right

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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

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first of all when the koi with crisis

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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

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what's happened is a lot of people a lot

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what's happened is a lot of people a lot of<00:02:36.560> people<00:02:36.800> lost<00:02:37.040> their<00:02:37.200> jobs

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of people lost their jobs

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of people lost their jobs lost<00:02:38.480> their<00:02:38.640> incomes<00:02:39.120> stuck<00:02:39.360> at<00:02:39.440> home<00:02:39.920> it's

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lost their incomes stuck at home it's

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lost their incomes stuck at home it's been<00:02:40.640> awful

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been awful

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been awful but<00:02:41.920> what's<00:02:42.080> important<00:02:42.480> is<00:02:42.560> to<00:02:42.640> understand

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but what's important is to understand

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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

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it's been way more awful than some of

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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

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them for others right the richest 10

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them for others right the richest 10 people<00:02:46.080> in<00:02:46.160> the<00:02:46.239> world

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people in the world

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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

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have made enough money just last year to

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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

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pay for covered vaccines for the entire

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pay for covered vaccines for the entire world

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world

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world the<00:02:51.599> really<00:02:51.840> rich<00:02:52.080> people<00:02:52.239> here<00:02:52.480> are<00:02:52.560> making<00:02:52.879> a

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the really rich people here are making a

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the really rich people here are making a fortune<00:02:53.440> here<00:02:54.000> while<00:02:54.319> ordinary<00:02:54.720> people

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fortune here while ordinary people

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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

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are sitting at home lost their jobs you

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are sitting at home lost their jobs you know<00:02:58.080> and<00:02:58.239> in<00:02:58.319> the<00:02:58.480> us<00:02:58.800> they've

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know and in the us they've

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know and in the us they've been<00:02:59.360> given<00:02:59.599> the<00:02:59.680> kind<00:02:59.840> of<00:02:59.920> support<00:03:00.239> that

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been given the kind of support that

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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

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we've been given in the uk which you

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we've been given in the uk which you know

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know

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know that's<00:03:02.720> helped<00:03:02.959> some<00:03:03.120> but<00:03:03.280> it's<00:03:03.360> not<00:03:03.519> been

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that's helped some but it's not been

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that's helped some but it's not been complete<00:03:03.920> coverage<00:03:04.640> um

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complete coverage um

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complete coverage um and<00:03:06.239> that<00:03:06.480> comes<00:03:06.879> on<00:03:07.040> top<00:03:07.680> of<00:03:07.840> a<00:03:07.920> context<00:03:08.319> of

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and that comes on top of a context of

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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

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since the 2008 crisis what has happened

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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

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the 2008 crisis the economy has been

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the 2008 crisis the economy has been terrible<00:03:13.120> for<00:03:13.280> 12<00:03:13.599> years

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terrible for 12 years

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terrible for 12 years and<00:03:14.640> yet<00:03:14.879> stock<00:03:15.120> prices<00:03:15.760> trebled<00:03:16.319> quadrupled

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and yet stock prices trebled quadrupled

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and yet stock prices trebled quadrupled house<00:03:17.360> prices<00:03:17.680> in<00:03:17.760> london<00:03:18.000> have<00:03:18.080> doubled<00:03:18.480> the

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house prices in london have doubled the

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house prices in london have doubled the gold<00:03:18.800> price<00:03:19.040> has<00:03:19.200> trebled

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gold price has trebled

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gold price has trebled so<00:03:19.840> we've<00:03:20.000> been<00:03:20.159> living<00:03:20.400> in<00:03:20.480> a<00:03:20.560> world<00:03:20.879> here

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so we've been living in a world here

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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

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where ordinary people the wages don't go

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where ordinary people the wages don't go up<00:03:23.040> the<00:03:23.120> jobs<00:03:23.440> don't<00:03:23.599> get<00:03:23.760> better

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up the jobs don't get better

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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

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yeah i think at the very heart of it

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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

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what is it is work isn't working

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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

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work don't work will not buy you a house

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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

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in london you know what i mean

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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

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i'm 34 people my age who work a job who

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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

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don't have don't come from rich families

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don't have don't come from rich families you<00:03:34.640> cannot<00:03:34.879> buy<00:03:35.040> a<00:03:35.040> house

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you cannot buy a house

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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

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no and but then they see city traders or

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no and but then they see city traders or people<00:03:39.120> from<00:03:39.280> wealthy<00:03:39.599> families

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people from wealthy families

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people from wealthy families buying<00:03:40.799> them<00:03:40.959> easily<00:03:41.599> so<00:03:41.760> then<00:03:42.000> if<00:03:42.159> you<00:03:42.319> create

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buying them easily so then if you create

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buying them easily so then if you create a<00:03:42.560> world<00:03:42.879> where<00:03:43.040> work<00:03:43.280> doesn't<00:03:43.599> work

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a world where work doesn't work

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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

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and wild gambling seems to be able to

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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

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make you money and it only seems to go

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make you money and it only seems to go to<00:03:47.920> rich<00:03:48.159> people

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to rich people

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to rich people of<00:03:49.040> course<00:03:49.280> ordinary<00:03:49.840> people<00:03:50.000> they're<00:03:50.159> not

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of course ordinary people they're not

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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

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idiots they're going to say we want a

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idiots they're going to say we want a piece<00:03:51.680> too

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piece too

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piece too but<00:03:53.120> i<00:03:53.280> don't<00:03:53.519> want<00:03:53.680> to<00:03:54.000> frame<00:03:54.319> that<00:03:54.480> as<00:03:54.560> if

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but i don't want to frame that as if

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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

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this is a massive success for the

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this is a massive success for the ordinary<00:03:56.560> person

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ordinary person

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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

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because the truth is that gamestop is up

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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

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forever maybe it's maybe it's 2 000

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forever maybe it's maybe it's 2 000 it<00:04:02.239> just<00:04:02.480> changes<00:04:02.720> all<00:04:02.879> the<00:04:02.959> time<00:04:03.599> but<00:04:03.760> at<00:04:03.840> some

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it just changes all the time but at some

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it just changes all the time but at some point<00:04:04.159> that's<00:04:04.319> going<00:04:04.400> to<00:04:04.480> collapse<00:04:04.879> i

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point that's going to collapse i

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point that's going to collapse i guarantee<00:04:05.439> it

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guarantee it

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guarantee it and<00:04:06.720> when<00:04:06.879> that<00:04:07.040> collapses<00:04:07.519> who's<00:04:07.760> going<00:04:07.840> to

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and when that collapses who's going to

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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

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be holding it i'll put you any money

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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

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it's regular people who are sitting out

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it's regular people who are sitting out here

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here

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here saving<00:04:11.840> up<00:04:11.920> their<00:04:12.159> money<00:04:12.959> who've<00:04:13.200> been

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saving up their money who've been

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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

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working hard jobs trying to make money

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working hard jobs trying to make money for<00:04:15.439> their<00:04:15.599> families

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for their families

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for their families at<00:04:16.880> the<00:04:17.040> end<00:04:17.199> when<00:04:17.359> it<00:04:17.440> collapses<00:04:18.079> it's

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at the end when it collapses it's

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at the end when it collapses it's probably<00:04:18.560> going<00:04:18.720> to<00:04:18.799> be<00:04:18.880> ordinary<00:04:19.359> people

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probably going to be ordinary people

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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

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i don't want to give people the

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i don't want to give people the impression<00:04:21.359> that<00:04:21.519> you<00:04:21.680> know<00:04:22.000> ordinary

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impression that you know ordinary

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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

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you know the working man can take that

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you know the working man can take that control<00:04:25.520> by

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control by

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control by betting<00:04:26.800> on<00:04:27.360> robin<00:04:27.680> hood<00:04:27.919> or<00:04:28.080> ig<00:04:28.400> index<00:04:28.800> or

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betting on robin hood or ig index or

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betting on robin hood or ig index or spread<00:04:29.360> brain<00:04:29.600> because

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spread brain because

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spread brain because truth<00:04:30.320> is<00:04:30.400> 75<00:04:30.960> of<00:04:31.120> people<00:04:31.360> that<00:04:31.759> use<00:04:32.000> these

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truth is 75 of people that use these

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truth is 75 of people that use these accounts<00:04:32.560> lose<00:04:32.800> money

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accounts lose money

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accounts lose money and<00:04:33.680> it<00:04:33.759> can<00:04:34.000> be<00:04:34.160> very<00:04:34.320> dangerous<00:04:34.960> it's

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and it can be very dangerous it's

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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

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gambling it can be addictive it can ruin

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gambling it can be addictive it can ruin families<00:04:37.280> so

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families so

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families so i<00:04:39.120> totally<00:04:39.440> understand<00:04:39.759> the<00:04:39.919> story<00:04:40.160> i<00:04:40.320> totally

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i totally understand the story i totally

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i totally understand the story i totally understand<00:04:40.960> the<00:04:41.040> story<00:04:41.440> i<00:04:41.520> can<00:04:41.680> see

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understand the story i can see

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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

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inequality blowing up listen i come from

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inequality blowing up listen i come from a<00:04:43.440> poor<00:04:43.600> background

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a poor background

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a poor background i'm<00:04:44.639> rich<00:04:44.960> now<00:04:45.520> i<00:04:45.680> totally<00:04:46.160> see<00:04:46.320> what<00:04:46.479> is

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i'm rich now i totally see what is

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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

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happening in the world and i understand

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happening in the world and i understand how<00:04:48.000> it<00:04:48.080> affects<00:04:48.400> people

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how it affects people

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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

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but we are not gonna save the world by

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but we are not gonna save the world by sitting<00:04:52.080> at<00:04:52.160> home<00:04:52.320> in<00:04:52.400> our<00:04:52.560> kitchen

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sitting at home in our kitchen

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sitting at home in our kitchen trading<00:04:53.520> stocks<00:04:53.759> in<00:04:53.840> our<00:04:53.919> underpants<00:04:54.720> should

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trading stocks in our underpants should

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trading stocks in our underpants should we<00:04:55.040> feel<00:04:55.280> bad<00:04:55.680> for

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we feel bad for

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we feel bad for the<00:04:58.960> the<00:04:59.280> wall<00:04:59.600> street<00:05:00.000> brokers

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the the wall street brokers

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the the wall street brokers the<00:05:02.080> hedge<00:05:02.400> funds<00:05:02.720> for<00:05:02.960> losing<00:05:03.360> all<00:05:03.440> this

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the hedge funds for losing all this

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the hedge funds for losing all this money<00:05:04.080> if<00:05:04.320> so

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money if so

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money if so or<00:05:04.960> if<00:05:05.120> not<00:05:05.919> why<00:05:07.199> i<00:05:07.360> mean

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or if not why i mean

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or if not why i mean i'll<00:05:08.080> be<00:05:08.240> completely<00:05:08.720> honest<00:05:09.440> i'm<00:05:09.600> not<00:05:09.759> going

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i'll be completely honest i'm not going

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i'll be completely honest i'm not going to<00:05:10.000> be<00:05:10.080> crying<00:05:10.320> myself<00:05:10.560> to<00:05:10.720> sleep<00:05:10.960> about<00:05:11.199> huh

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to be crying myself to sleep about huh

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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

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i used to work in the city and i don't

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i used to work in the city and i don't want to<00:05:13.199> give<00:05:13.280> you<00:05:13.360> the<00:05:13.440> impression<00:05:13.759> that

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want to give you the impression that

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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

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it's full of full of [ __ ] or full

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it's full of full of [ __ ] or full of

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of unpleasant<00:05:16.880> people<00:05:17.360> there's<00:05:17.600> definitely

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unpleasant people there's definitely

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unpleasant people there's definitely some<00:05:18.400> but<00:05:18.639> um<00:05:19.199> there's<00:05:19.440> also<00:05:19.680> a<00:05:19.759> lot<00:05:19.840> of<00:05:19.919> good

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some but um there's also a lot of good

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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

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people there just trying to make money

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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

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for their families you know that's what

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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

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i was trying to do you know what i mean

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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

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um i don't want to create this good and

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um i don't want to create this good and evil<00:05:25.600> narrative<00:05:26.160> but<00:05:26.320> um

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evil narrative but um

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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

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look a lot of those guys lost money they

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look a lot of those guys lost money they can<00:05:28.880> afford<00:05:29.120> to<00:05:29.199> lose<00:05:29.440> money

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can afford to lose money

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can afford to lose money my<00:05:30.720> worry<00:05:31.199> is<00:05:32.160> when<00:05:32.400> it<00:05:32.560> pops

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my worry is when it pops

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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

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a lot of other people are going to lose

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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

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money and maybe there will be people who

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money and maybe there will be people who can't<00:05:36.000> afford<00:05:36.840> it