okay<00:00:01.680> now<00:00:02.320> something<00:00:02.800> very<00:00:03.199> weird

okay now something very weird

okay now something very weird is<00:00:04.160> happening<00:00:04.480> in<00:00:04.640> financial<00:00:05.200> markets<00:00:05.920> shares

is happening in financial markets shares

is happening in financial markets shares in<00:00:06.960> the<00:00:07.200> loss<00:00:07.520> making<00:00:07.919> it's<00:00:08.080> important<00:00:08.400> to<00:00:08.480> say

in the loss making it's important to say

in the loss making it's important to say loss<00:00:09.200> making<00:00:09.519> us<00:00:09.760> video<00:00:10.080> game<00:00:10.320> retailer

loss making us video game retailer

loss making us video game retailer gamestop<00:00:11.679> are<00:00:11.840> now<00:00:12.160> worth

gamestop are now worth

gamestop are now worth 15<00:00:13.519> times<00:00:13.840> as<00:00:14.000> much<00:00:14.240> as<00:00:14.320> they<00:00:14.559> were<00:00:14.960> at<00:00:15.120> the

15 times as much as they were at the

15 times as much as they were at the beginning<00:00:15.679> of<00:00:15.759> the<00:00:15.920> year

beginning of the year

beginning of the year now<00:00:16.480> part<00:00:16.800> of<00:00:16.880> the<00:00:17.039> reason<00:00:17.760> is<00:00:17.920> that<00:00:18.240> amateur

now part of the reason is that amateur

now part of the reason is that amateur investors

investors

investors have<00:00:19.760> been<00:00:20.080> piling<00:00:20.720> into<00:00:21.039> stock<00:00:21.359> in<00:00:21.439> an<00:00:21.600> effort

have been piling into stock in an effort

have been piling into stock in an effort to<00:00:22.080> target<00:00:22.480> hedge<00:00:22.800> funds

to target hedge funds

to target hedge funds which<00:00:23.680> have<00:00:24.000> big<00:00:24.240> bets<00:00:25.039> that<00:00:25.279> gamestop<00:00:26.080> shares

which have big bets that gamestop shares

which have big bets that gamestop shares will

will

will fall<00:00:27.199> in<00:00:27.439> value<00:00:28.240> now<00:00:28.480> this<00:00:28.720> battle<00:00:29.199> between

fall in value now this battle between

fall in value now this battle between amateur

amateur

amateur and<00:00:30.160> professional<00:00:30.560> investors<00:00:31.039> is<00:00:31.199> creating

and professional investors is creating

and professional investors is creating huge<00:00:32.079> price<00:00:32.399> swings<00:00:32.880> which<00:00:33.120> are<00:00:33.200> now

huge price swings which are now

huge price swings which are now spreading<00:00:33.760> to<00:00:34.000> other<00:00:34.320> stocks

spreading to other stocks

spreading to other stocks like<00:00:35.280> the<00:00:35.520> uk<00:00:35.840> education<00:00:36.399> publishing<00:00:36.800> company

like the uk education publishing company

like the uk education publishing company pearson

pearson

pearson gary<00:00:38.559> stevenson<00:00:39.120> joins<00:00:39.360> us<00:00:39.520> now<00:00:39.680> as<00:00:39.840> an

gary stevenson joins us now as an

gary stevenson joins us now as an economist<00:00:40.480> and<00:00:40.559> former<00:00:40.800> city<00:00:41.120> trader

economist and former city trader

economist and former city trader um<00:00:42.480> gary<00:00:42.879> tell<00:00:43.040> us<00:00:43.200> what<00:00:43.440> is<00:00:43.600> going<00:00:43.840> on<00:00:44.000> here

um gary tell us what is going on here

um gary tell us what is going on here good<00:00:44.399> afternoon

so<00:00:48.879> i<00:00:49.039> think<00:00:49.360> to<00:00:49.520> understand<00:00:49.840> what's

so i think to understand what's

so i think to understand what's happening<00:00:50.640> you<00:00:50.800> need<00:00:50.879> to<00:00:50.960> have<00:00:51.039> a<00:00:51.120> little<00:00:51.280> bit

happening you need to have a little bit

happening you need to have a little bit of<00:00:51.520> broad<00:00:51.840> context<00:00:52.160> basically<00:00:52.559> obviously

of broad context basically obviously

of broad context basically obviously please

please

please we've<00:00:53.680> had<00:00:53.760> a<00:00:53.840> massive<00:00:54.239> economic<00:00:54.640> crash<00:00:55.199> but

we've had a massive economic crash but

we've had a massive economic crash but um<00:00:55.680> if<00:00:55.840> you<00:00:55.920> were<00:00:56.000> to<00:00:56.079> look<00:00:56.239> at<00:00:56.320> the<00:00:56.399> stock

um if you were to look at the stock

um if you were to look at the stock markets<00:00:57.039> you<00:00:57.280> you<00:00:57.440> wouldn't<00:00:57.680> know<00:00:57.840> it

markets you you wouldn't know it

markets you you wouldn't know it especially<00:00:58.320> if<00:00:58.399> you<00:00:58.480> look<00:00:58.640> at<00:00:58.719> the<00:00:58.879> american

especially if you look at the american

especially if you look at the american stock<00:00:59.440> markets<00:00:59.760> this<00:00:59.840> is<00:00:59.920> something

stock markets this is something

stock markets this is something soaring<00:01:00.879> right<00:01:01.120> there's<00:01:01.760> there's<00:01:02.000> been<00:01:02.160> an

soaring right there's there's been an

soaring right there's there's been an explosion<00:01:02.960> i<00:01:03.039> mean<00:01:03.199> i<00:01:03.280> think<00:01:03.359> it's<00:01:03.520> up<00:01:03.600> sort<00:01:03.760> of

explosion i mean i think it's up sort of

explosion i mean i think it's up sort of 80<00:01:04.239> 90

80 90

80 90 since<00:01:04.960> the<00:01:05.040> lows<00:01:05.439> in<00:01:05.600> march<00:01:05.920> and<00:01:06.560> this<00:01:06.799> is<00:01:06.880> just

since the lows in march and this is just

since the lows in march and this is just phenomenal<00:01:07.520> when<00:01:07.680> you<00:01:07.760> consider<00:01:08.560> you<00:01:08.640> know

phenomenal when you consider you know

phenomenal when you consider you know what<00:01:08.960> has<00:01:09.119> happened<00:01:09.280> to<00:01:09.439> the<00:01:09.520> economy

what has happened to the economy

what has happened to the economy and<00:01:10.960> the<00:01:11.119> situation<00:01:11.600> of<00:01:11.680> a<00:01:11.760> lot<00:01:11.920> of<00:01:12.320> american

and the situation of a lot of american

and the situation of a lot of american workers

workers

workers or<00:01:13.840> in<00:01:13.920> many<00:01:14.159> cases<00:01:14.479> people<00:01:14.640> who<00:01:14.799> want<00:01:14.960> to<00:01:15.119> work

or in many cases people who want to work

or in many cases people who want to work is<00:01:15.600> they're<00:01:15.759> sitting<00:01:16.000> at<00:01:16.080> home

is they're sitting at home

is they're sitting at home they're<00:01:17.040> not<00:01:17.119> able<00:01:17.280> to<00:01:17.360> work<00:01:17.520> because<00:01:17.680> of<00:01:17.759> the

they're not able to work because of the

they're not able to work because of the coronaries<00:01:18.320> crisis<00:01:18.880> they're<00:01:19.040> not<00:01:19.119> making

coronaries crisis they're not making

coronaries crisis they're not making money<00:01:19.759> and<00:01:19.840> they<00:01:20.000> haven't<00:01:20.240> had<00:01:20.479> quite<00:01:20.640> the

money and they haven't had quite the

money and they haven't had quite the same<00:01:20.880> levels<00:01:21.119> of<00:01:21.200> support<00:01:21.520> that<00:01:21.600> we've<00:01:21.759> had

same levels of support that we've had

same levels of support that we've had here

here

here and<00:01:22.799> they're<00:01:22.960> just<00:01:23.119> watching<00:01:23.439> these<00:01:23.680> stock

and they're just watching these stock

and they're just watching these stock markets<00:01:24.240> fly<00:01:24.720> through<00:01:25.040> the<00:01:25.119> roof

markets fly through the roof

markets fly through the roof and<00:01:25.840> you<00:01:26.000> know<00:01:26.479> some<00:01:26.640> people<00:01:26.880> are<00:01:26.960> calling<00:01:27.200> it

and you know some people are calling it

and you know some people are calling it a<00:01:27.360> k-shaped<00:01:27.840> recovery<00:01:28.240> i<00:01:28.320> think<00:01:28.400> that's<00:01:28.640> what

a k-shaped recovery i think that's what

a k-shaped recovery i think that's what it<00:01:28.960> is<00:01:29.119> really

it is really

it is really stock<00:01:30.000> markets<00:01:30.320> are<00:01:30.400> flying<00:01:30.640> through<00:01:30.720> the

stock markets are flying through the

stock markets are flying through the roof<00:01:31.040> here<00:01:31.280> in<00:01:31.360> england<00:01:31.840> we're<00:01:32.000> seeing<00:01:32.320> more

roof here in england we're seeing more

roof here in england we're seeing more happening<00:01:32.960> in

happening in

happening in property<00:01:33.680> markets<00:01:34.320> but<00:01:34.479> ordinary<00:01:34.960> people

property markets but ordinary people

property markets but ordinary people they've<00:01:35.840> lost<00:01:36.000> their<00:01:36.079> jobs<00:01:36.240> and<00:01:36.320> lost<00:01:36.479> their

they've lost their jobs and lost their

they've lost their jobs and lost their incomes<00:01:36.960> and

incomes and

incomes and people<00:01:38.079> are<00:01:38.159> starting<00:01:38.400> to<00:01:38.479> think<00:01:38.640> well<00:01:39.200> it's

people are starting to think well it's

people are starting to think well it's about<00:01:39.520> time<00:01:39.759> you<00:01:39.840> get<00:01:39.920> involved<00:01:40.240> in<00:01:40.320> this<00:01:40.479> and

about time you get involved in this and

about time you get involved in this and now<00:01:40.720> you're<00:01:40.799> seeing

now you're seeing

now you're seeing ordinary<00:01:41.759> people<00:01:42.159> you<00:01:42.240> know<00:01:42.720> sitting<00:01:42.960> at<00:01:43.040> home

ordinary people you know sitting at home

ordinary people you know sitting at home on<00:01:43.360> reddit<00:01:43.600> which<00:01:43.759> is<00:01:43.840> this<00:01:44.159> internet

on reddit which is this internet

on reddit which is this internet messaging<00:01:44.880> board

messaging board

messaging board said<00:01:45.840> we<00:01:46.000> want<00:01:46.079> to<00:01:46.159> get<00:01:46.240> involved<00:01:46.479> and<00:01:46.560> we<00:01:46.640> want

said we want to get involved and we want

said we want to get involved and we want some<00:01:46.880> of<00:01:46.960> that<00:01:47.119> too<00:01:47.360> we<00:01:47.439> don't<00:01:47.600> want<00:01:47.680> that<00:01:47.840> just

some of that too we don't want that just

some of that too we don't want that just to<00:01:48.079> go<00:01:48.240> to<00:01:48.399> the<00:01:48.640> wealthy

to go to the wealthy

to go to the wealthy stockholders<00:01:49.759> and<00:01:49.920> um<00:01:50.159> it's<00:01:50.399> it's<00:01:50.640> been<00:01:50.880> crazy

stockholders and um it's it's been crazy

stockholders and um it's it's been crazy so<00:01:51.520> they've<00:01:51.680> all<00:01:51.920> turned<00:01:52.240> into<00:01:52.399> this<00:01:52.560> one-stop

so they've all turned into this one-stop

so they've all turned into this one-stop gamestop<00:01:53.840> which<00:01:54.079> has<00:01:54.159> gone<00:01:54.320> up<00:01:54.479> i<00:01:54.560> think

gamestop which has gone up i think

gamestop which has gone up i think one<00:01:55.119> thousand<00:01:55.439> five<00:01:55.600> hundred<00:01:55.840> percent<00:01:56.159> in

one thousand five hundred percent in

one thousand five hundred percent in about<00:01:56.479> two<00:01:56.719> weeks<00:01:57.600> it's<00:01:57.759> nearly<00:01:58.000> bankrupted

about two weeks it's nearly bankrupted

about two weeks it's nearly bankrupted the<00:01:58.479> u.s<00:01:58.640> hedge<00:01:58.880> fund

the u.s hedge fund

the u.s hedge fund and<00:01:59.759> it<00:02:00.000> it<00:02:00.079> just<00:02:00.320> is<00:02:00.399> a<00:02:00.479> phenomenal<00:02:00.960> story<00:02:01.200> but

and it it just is a phenomenal story but

and it it just is a phenomenal story but i<00:02:01.360> think<00:02:01.680> this<00:02:01.840> is<00:02:01.920> what<00:02:02.079> happens<00:02:02.479> when

i think this is what happens when

i think this is what happens when when<00:02:03.920> governments<00:02:04.479> basically<00:02:05.040> try<00:02:05.280> and<00:02:05.600> fix

when governments basically try and fix

when governments basically try and fix an<00:02:05.920> economic<00:02:06.240> crisis<00:02:06.560> by<00:02:06.719> pouring<00:02:07.119> loads<00:02:07.360> and

an economic crisis by pouring loads and

an economic crisis by pouring loads and loads<00:02:07.920> of<00:02:08.000> money

loads of money

loads of money and<00:02:08.560> not<00:02:08.720> dealing<00:02:08.959> with<00:02:09.119> the<00:02:09.200> underlying

and not dealing with the underlying

and not dealing with the underlying issues<00:02:10.160> that<00:02:10.239> are<00:02:10.319> happening<00:02:11.360> so

issues that are happening so

issues that are happening so tell<00:02:12.239> me<00:02:12.400> what<00:02:12.560> it<00:02:12.640> is<00:02:12.800> just<00:02:12.959> let's<00:02:13.200> get<00:02:13.360> back

tell me what it is just let's get back

tell me what it is just let's get back to<00:02:13.760> basics<00:02:14.319> gary

to basics gary

to basics gary about<00:02:15.680> short<00:02:16.080> selling<00:02:16.480> this<00:02:16.640> is<00:02:16.959> all<00:02:17.200> about

about short selling this is all about

about short selling this is all about short<00:02:17.840> selling<00:02:18.160> yes

short selling yes

short selling yes yeah<00:02:19.040> yeah<00:02:19.280> yeah<00:02:19.920> okay<00:02:20.160> yeah<00:02:20.319> um<00:02:20.480> so<00:02:20.640> basically

yeah yeah yeah okay yeah um so basically

yeah yeah yeah okay yeah um so basically uh<00:02:21.599> short<00:02:21.840> selling<00:02:22.080> is<00:02:22.160> a<00:02:22.239> way<00:02:22.480> that<00:02:22.640> um

uh short selling is a way that um

uh short selling is a way that um an<00:02:23.599> ordinary<00:02:24.000> person<00:02:24.239> or<00:02:24.319> more<00:02:24.480> often<00:02:24.720> a

an ordinary person or more often a

an ordinary person or more often a professional<00:02:25.120> investor<00:02:25.440> can<00:02:25.599> basically<00:02:26.239> try

professional investor can basically try

professional investor can basically try and<00:02:26.560> make<00:02:26.800> money<00:02:27.040> on<00:02:27.120> the<00:02:27.280> price<00:02:27.599> of<00:02:27.760> a<00:02:27.840> stock

and make money on the price of a stock

and make money on the price of a stock or<00:02:28.959> anything<00:02:29.200> else<00:02:29.440> uh<00:02:29.680> falling<00:02:30.400> obviously<00:02:30.720> if

or anything else uh falling obviously if

or anything else uh falling obviously if a<00:02:30.959> pr<00:02:31.120> if<00:02:31.200> a<00:02:31.280> stock's<00:02:31.519> gonna<00:02:31.760> go<00:02:31.840> up<00:02:32.000> it's

a pr if a stock's gonna go up it's

a pr if a stock's gonna go up it's pretty<00:02:32.319> simple<00:02:32.640> you<00:02:32.720> do<00:02:32.879> you<00:02:33.040> go<00:02:33.200> out<00:02:33.360> you<00:02:33.440> buy

pretty simple you do you go out you buy

pretty simple you do you go out you buy the<00:02:33.680> stock<00:02:33.920> it<00:02:34.000> goes<00:02:34.239> up<00:02:34.319> you<00:02:34.480> sell<00:02:34.720> it

the stock it goes up you sell it

the stock it goes up you sell it so<00:02:35.120> how<00:02:35.200> do<00:02:35.280> you<00:02:35.360> make<00:02:35.519> money<00:02:35.760> from<00:02:36.000> a<00:02:36.080> stock

so how do you make money from a stock

so how do you make money from a stock price<00:02:36.560> going<00:02:36.800> down<00:02:37.519> uh<00:02:37.840> well<00:02:38.000> you<00:02:38.080> can't<00:02:38.319> sell

price going down uh well you can't sell

price going down uh well you can't sell something<00:02:38.879> you<00:02:38.959> don't<00:02:39.200> own

something you don't own

something you don't own so<00:02:39.840> what<00:02:40.000> these<00:02:40.239> people<00:02:40.400> have<00:02:40.560> to<00:02:40.640> do<00:02:40.879> is<00:02:41.040> they

so what these people have to do is they

so what these people have to do is they go<00:02:41.360> out<00:02:41.440> and<00:02:41.519> they<00:02:41.680> borrow<00:02:42.000> a<00:02:42.080> stock

go out and they borrow a stock

go out and they borrow a stock then<00:02:43.120> they<00:02:43.280> sell<00:02:43.519> it<00:02:43.680> and<00:02:43.760> they<00:02:43.920> hope<00:02:44.160> that

then they sell it and they hope that

then they sell it and they hope that they<00:02:44.400> can<00:02:44.480> buy<00:02:44.720> it<00:02:44.800> back<00:02:45.120> a<00:02:45.200> week<00:02:45.360> down<00:02:45.519> the

they can buy it back a week down the

they can buy it back a week down the line<00:02:45.760> two<00:02:45.920> weeks<00:02:46.080> down<00:02:46.239> the<00:02:46.319> line

line two weeks down the line

line two weeks down the line at<00:02:47.120> a<00:02:47.200> cheaper<00:02:47.519> price<00:02:47.840> and<00:02:47.920> make<00:02:48.080> money<00:02:48.400> on<00:02:48.480> it

at a cheaper price and make money on it

at a cheaper price and make money on it falling<00:02:49.360> um<00:02:49.840> so

falling um so

falling um so i<00:02:50.959> think<00:02:51.360> basically<00:02:51.680> what<00:02:51.920> caused<00:02:52.239> this<00:02:52.800> um

i think basically what caused this um

i think basically what caused this um what<00:02:53.519> caused<00:02:53.760> these

what caused these

what caused these redditors<00:02:54.640> these<00:02:54.800> people<00:02:55.040> on<00:02:55.120> the<00:02:55.200> internet

redditors these people on the internet

redditors these people on the internet to<00:02:55.599> choose<00:02:56.000> gamestop<00:02:56.959> is<00:02:57.120> they<00:02:57.280> saw<00:02:57.519> that

to choose gamestop is they saw that

to choose gamestop is they saw that certain<00:02:58.319> hedge<00:02:58.560> funds<00:02:58.800> had<00:02:58.959> put<00:02:59.280> massive

certain hedge funds had put massive

certain hedge funds had put massive short<00:03:00.000> positions<00:03:00.720> on<00:03:00.879> gamestop<00:03:01.440> because

short positions on gamestop because

short positions on gamestop because because<00:03:02.239> actually<00:03:02.480> they<00:03:02.560> thought<00:03:02.720> it<00:03:02.800> was<00:03:02.959> a

because actually they thought it was a

because actually they thought it was a weak<00:03:03.440> company<00:03:04.159> and<00:03:04.319> they<00:03:04.400> thought<00:03:04.560> well<00:03:04.720> if

weak company and they thought well if

weak company and they thought well if rightly<00:03:05.280> so

rightly so

rightly so right<00:03:05.840> i<00:03:05.920> mean<00:03:06.239> they've<00:03:06.400> done<00:03:06.640> the<00:03:06.720> analytics

right i mean they've done the analytics

right i mean they've done the analytics they<00:03:08.319> could<00:03:08.480> see<00:03:08.800> that<00:03:08.959> it<00:03:09.120> had<00:03:09.200> been<00:03:09.440> falling

they could see that it had been falling

they could see that it had been falling and<00:03:10.000> falling<00:03:10.400> and<00:03:10.480> falling<00:03:10.800> it<00:03:10.959> was<00:03:11.120> a

and falling and falling it was a

and falling and falling it was a retailer

retailer

retailer it<00:03:12.080> had<00:03:12.480> it<00:03:12.640> wasn't<00:03:12.879> an<00:03:13.120> online<00:03:13.440> company<00:03:13.840> it

it had it wasn't an online company it

it had it wasn't an online company it was<00:03:14.000> a<00:03:14.080> retailer<00:03:14.640> so

was a retailer so

was a retailer so obviously<00:03:15.519> malls<00:03:15.840> are<00:03:15.920> closed<00:03:16.319> et<00:03:16.400> cetera

obviously malls are closed et cetera

obviously malls are closed et cetera captioning<00:03:16.879> not

so<00:03:31.280> they<00:03:31.360> were<00:03:31.440> short available<00:03:31.920> it<00:03:32.400> um<00:03:32.959> but

so they were short available it um but

so they were short available it um but these<00:03:33.360> guys<00:03:33.599> are<00:03:33.680> ready<00:03:33.920> and<00:03:34.080> you<00:03:34.159> know<00:03:34.319> i

these guys are ready and you know i

these guys are ready and you know i would<00:03:34.480> love<00:03:34.640> to<00:03:34.799> know<00:03:35.040> who<00:03:35.280> initiated<00:03:36.000> it<00:03:36.159> um

would love to know who initiated it um

would love to know who initiated it um they<00:03:36.640> looked<00:03:36.799> at<00:03:36.879> it<00:03:36.959> and<00:03:37.040> said<00:03:37.200> well<00:03:37.440> these

they looked at it and said well these

they looked at it and said well these guys<00:03:37.760> have<00:03:37.920> actually<00:03:38.080> got<00:03:38.239> really<00:03:38.480> big<00:03:38.720> short

guys have actually got really big short

guys have actually got really big short positions

positions

positions if<00:03:39.760> we<00:03:40.000> buy<00:03:40.239> all<00:03:40.400> the<00:03:40.480> stock<00:03:41.599> then<00:03:41.840> these<00:03:42.080> guys

if we buy all the stock then these guys

if we buy all the stock then these guys who<00:03:42.560> need<00:03:42.720> to<00:03:42.879> borrow<00:03:43.120> the<00:03:43.280> stock

who need to borrow the stock

who need to borrow the stock in<00:03:44.080> order<00:03:44.319> to<00:03:44.560> short<00:03:44.799> sell<00:03:45.040> it<00:03:45.120> they<00:03:45.200> won't<00:03:45.440> be

in order to short sell it they won't be

in order to short sell it they won't be able<00:03:45.599> to<00:03:45.760> short<00:03:45.920> sell<00:03:46.080> anymore<00:03:46.400> and<00:03:46.480> then

able to short sell anymore and then

able to short sell anymore and then we<00:03:47.120> can<00:03:47.280> push<00:03:47.440> the<00:03:47.599> price<00:03:47.920> up<00:03:48.239> and<00:03:48.319> then<00:03:48.560> those

we can push the price up and then those

we can push the price up and then those people<00:03:49.040> who've<00:03:49.120> gotten<00:03:49.360> the<00:03:49.440> price<00:03:49.680> going

people who've gotten the price going

people who've gotten the price going down

down

down they<00:03:50.640> will<00:03:50.720> then<00:03:50.879> have<00:03:51.040> to<00:03:51.200> buy<00:03:51.599> at<00:03:51.680> the<00:03:51.760> higher

they will then have to buy at the higher

they will then have to buy at the higher prices<00:03:52.400> because<00:03:52.720> they<00:03:53.040> they<00:03:53.280> can't<00:03:53.519> keep<00:03:53.760> a

prices because they they can't keep a

prices because they they can't keep a short<00:03:54.080> if<00:03:54.159> you<00:03:54.239> can't<00:03:54.400> borrow<00:03:54.640> the<00:03:54.720> stock<00:03:54.959> you

short if you can't borrow the stock you

short if you can't borrow the stock you can't<00:03:55.200> keep<00:03:55.439> it<00:03:55.519> sure

can't keep it sure

can't keep it sure so<00:03:56.480> this<00:03:56.640> is<00:03:56.720> what<00:03:57.040> is<00:03:57.200> known<00:03:57.519> in<00:03:57.599> financial

so this is what is known in financial

so this is what is known in financial lingo<00:03:58.239> as<00:03:58.400> a<00:03:58.480> classic<00:03:58.879> short<00:03:59.200> squeeze<00:03:59.680> and<00:03:59.840> um

lingo as a classic short squeeze and um

lingo as a classic short squeeze and um it's<00:04:00.560> happened<00:04:00.799> many<00:04:01.040> times<00:04:01.280> in<00:04:01.360> history

it's happened many times in history

it's happened many times in history there's<00:04:01.760> a<00:04:01.840> big<00:04:01.920> short<00:04:02.080> squeeze<00:04:02.480> in<00:04:02.560> gold<00:04:02.879> in

there's a big short squeeze in gold in

there's a big short squeeze in gold in the<00:04:03.040> 80s<00:04:03.439> where<00:04:03.599> people<00:04:03.840> just<00:04:04.000> try<00:04:04.159> and

the 80s where people just try and

the 80s where people just try and buy<00:04:04.959> up<00:04:05.120> to<00:04:05.280> force<00:04:05.840> short<00:04:06.159> sellers<00:04:06.720> to<00:04:06.879> close

buy up to force short sellers to close

buy up to force short sellers to close their<00:04:07.280> positions<00:04:07.760> at<00:04:07.920> exorbitantly<00:04:08.480> high

their positions at exorbitantly high

their positions at exorbitantly high prices<00:04:09.120> and

prices and

prices and phenomenally<00:04:10.720> it<00:04:10.879> has<00:04:11.280> worked<00:04:11.680> and<00:04:12.000> you<00:04:12.159> know

phenomenally it has worked and you know

phenomenally it has worked and you know there's<00:04:12.400> one<00:04:12.640> guy<00:04:12.879> on<00:04:12.959> the

there's one guy on the

there's one guy on the i<00:04:13.519> actually<00:04:13.760> look<00:04:13.840> at<00:04:13.920> this<00:04:14.159> reddit<00:04:14.480> messaging

i actually look at this reddit messaging

i actually look at this reddit messaging board<00:04:14.879> it's<00:04:14.959> called<00:04:15.040> wall<00:04:15.200> street<00:04:15.439> bets

board it's called wall street bets

board it's called wall street bets there's<00:04:15.760> one<00:04:15.920> guy<00:04:16.000> and<00:04:16.160> he<00:04:16.320> claims<00:04:16.560> to<00:04:16.639> have

there's one guy and he claims to have

there's one guy and he claims to have turned

turned

turned 50<00:04:17.680> 000<00:04:18.079> into<00:04:18.320> 47<00:04:19.440> million<00:04:19.840> dollars<00:04:20.160> which<00:04:20.320> is

50 000 into 47 million dollars which is

50 000 into 47 million dollars which is um

um

um quite<00:04:21.519> phenomenal<00:04:22.000> to<00:04:22.079> be<00:04:22.240> honest<00:04:22.639> and<00:04:22.960> uh

quite phenomenal to be honest and uh

quite phenomenal to be honest and uh certain<00:04:24.479> hedge<00:04:24.720> funds<00:04:24.960> are<00:04:25.040> not<00:04:25.199> happy<00:04:25.360> so

certain hedge funds are not happy so

certain hedge funds are not happy so hedge<00:04:25.680> funds<00:04:26.080> have<00:04:26.160> lost<00:04:26.400> money<00:04:26.639> but<00:04:26.880> um

hedge funds have lost money but um

hedge funds have lost money but um it<00:04:27.840> really<00:04:28.160> is<00:04:28.479> a<00:04:28.560> phenomenal<00:04:29.120> story<00:04:29.680> um

it really is a phenomenal story um

it really is a phenomenal story um um<00:04:31.040> so<00:04:32.080> gary<00:04:33.120> is<00:04:33.360> this<00:04:33.520> a<00:04:33.600> case<00:04:33.840> of<00:04:33.919> who<00:04:34.160> blinks

um so gary is this a case of who blinks

um so gary is this a case of who blinks first

first

first or<00:04:36.000> essentially<00:04:36.639> the<00:04:36.720> small<00:04:37.120> investors<00:04:37.600> have

or essentially the small investors have

or essentially the small investors have won<00:04:38.000> this<00:04:38.240> round

won this round

won this round uh<00:04:40.240> i<00:04:40.320> think<00:04:40.720> they<00:04:40.880> might<00:04:41.120> have<00:04:41.280> won<00:04:41.440> the

uh i think they might have won the

uh i think they might have won the battle<00:04:41.840> but<00:04:42.160> the<00:04:42.320> war<00:04:42.560> continues

battle but the war continues

battle but the war continues my<00:04:43.520> concern<00:04:44.000> is<00:04:44.160> really<00:04:44.400> you<00:04:44.560> know<00:04:45.040> what's

my concern is really you know what's

my concern is really you know what's happened<00:04:45.600> over<00:04:45.759> the<00:04:45.840> last<00:04:46.080> couple<00:04:46.240> of<00:04:46.400> years

happened over the last couple of years

happened over the last couple of years and<00:04:46.960> you<00:04:47.040> know<00:04:47.199> i<00:04:47.280> get<00:04:47.440> messages<00:04:47.840> from<00:04:47.919> a<00:04:48.000> lot

and you know i get messages from a lot

and you know i get messages from a lot of<00:04:48.160> people<00:04:48.479> um<00:04:49.040> telling<00:04:49.280> me<00:04:49.440> you<00:04:49.520> know<00:04:49.759> how<00:04:50.000> can

of people um telling me you know how can

of people um telling me you know how can i<00:04:50.320> make<00:04:50.479> money<00:04:50.639> on<00:04:50.720> the<00:04:50.800> internet<00:04:51.199> how<00:04:51.360> can<00:04:51.440> i

i make money on the internet how can i

i make money on the internet how can i make<00:04:51.680> money<00:04:52.000> and

make money and

make money and when<00:04:52.720> i<00:04:52.800> talk<00:04:52.960> to<00:04:53.040> these<00:04:53.120> people<00:04:53.520> often<00:04:53.759> what

when i talk to these people often what

when i talk to these people often what you<00:04:54.000> find<00:04:54.320> is<00:04:54.479> um<00:04:55.040> they're<00:04:55.280> worried<00:04:55.680> that

you find is um they're worried that

you find is um they're worried that just<00:04:57.040> just<00:04:57.280> working<00:04:57.680> a<00:04:57.759> job<00:04:58.080> is<00:04:58.160> not<00:04:58.320> going<00:04:58.400> to

just just working a job is not going to

just just working a job is not going to get<00:04:58.639> them<00:04:58.720> financial<00:04:59.120> security<00:04:59.520> you<00:04:59.600> know

get them financial security you know

get them financial security you know we've<00:04:59.919> reached<00:05:00.160> a<00:05:00.240> situation<00:05:00.639> where<00:05:01.039> work

we've reached a situation where work

we've reached a situation where work doesn't<00:05:01.759> work

doesn't work

doesn't work you<00:05:02.479> know<00:05:02.639> my<00:05:02.800> background<00:05:03.120> is<00:05:03.280> i<00:05:03.360> come<00:05:03.520> from

you know my background is i come from

you know my background is i come from quite<00:05:03.840> a<00:05:03.919> poor<00:05:04.080> background<00:05:04.479> but<00:05:04.720> i<00:05:04.880> made<00:05:05.039> a<00:05:05.120> lot

quite a poor background but i made a lot

quite a poor background but i made a lot of<00:05:05.280> money<00:05:05.440> in<00:05:05.520> the<00:05:05.600> city<00:05:05.919> essentially

of money in the city essentially

of money in the city essentially gambling<00:05:07.280> you<00:05:07.360> know<00:05:07.919> and<00:05:08.080> we've<00:05:08.320> reached<00:05:08.560> a

gambling you know and we've reached a

gambling you know and we've reached a situation<00:05:09.120> now<00:05:09.280> where

situation now where

situation now where gambling<00:05:10.639> on<00:05:10.720> the<00:05:10.800> stock<00:05:11.039> markets<00:05:12.080> can<00:05:12.240> get

gambling on the stock markets can get

gambling on the stock markets can get you<00:05:12.560> money<00:05:12.800> that<00:05:12.960> just<00:05:13.120> working<00:05:13.440> an<00:05:13.600> ordinary

you money that just working an ordinary

you money that just working an ordinary job

job

job can't<00:05:15.199> get<00:05:15.360> you<00:05:15.840> so<00:05:16.720> there's<00:05:16.880> a<00:05:16.960> lot<00:05:17.039> of<00:05:17.120> people

can't get you so there's a lot of people

can't get you so there's a lot of people out<00:05:17.520> there<00:05:17.680> trying<00:05:18.000> to<00:05:18.080> make<00:05:18.240> money<00:05:18.479> on<00:05:18.639> this

out there trying to make money on this

out there trying to make money on this um<00:05:19.360> but<00:05:19.600> my<00:05:19.840> concern<00:05:20.560> is

um but my concern is

um but my concern is at<00:05:22.960> some<00:05:23.199> point<00:05:23.360> this<00:05:23.520> game<00:05:23.759> stop<00:05:23.919> it<00:05:24.160> it<00:05:24.240> will

at some point this game stop it it will

at some point this game stop it it will fall<00:05:24.639> because<00:05:24.800> it's<00:05:25.120> massively<00:05:25.440> overvalued

fall because it's massively overvalued

fall because it's massively overvalued now<00:05:26.000> all<00:05:26.080> short<00:05:26.320> squeezes<00:05:26.720> end

now all short squeezes end

now all short squeezes end my<00:05:27.600> concern<00:05:28.080> is<00:05:28.240> that<00:05:28.800> people<00:05:29.039> who<00:05:29.280> are

my concern is that people who are

my concern is that people who are struggling<00:05:30.320> because

struggling because

struggling because the<00:05:31.039> economic<00:05:31.440> system<00:05:31.680> is<00:05:31.840> not<00:05:32.000> working<00:05:32.320> for

the economic system is not working for

the economic system is not working for them<00:05:32.639> work<00:05:32.880> isn't<00:05:33.120> working<00:05:33.440> for<00:05:33.600> them

them work isn't working for them

them work isn't working for them they're<00:05:34.240> going<00:05:34.320> to<00:05:34.400> be<00:05:34.560> dragged<00:05:34.880> into<00:05:35.039> this

they're going to be dragged into this

they're going to be dragged into this and<00:05:35.600> they<00:05:35.840> are<00:05:35.919> going<00:05:36.080> to<00:05:36.639> quite<00:05:36.880> possibly<00:05:37.199> be

and they are going to quite possibly be

and they are going to quite possibly be the<00:05:37.440> ones<00:05:37.680> holding<00:05:37.919> this<00:05:38.080> stock<00:05:38.320> at<00:05:38.479> the<00:05:38.560> time

the ones holding this stock at the time

the ones holding this stock at the time it<00:05:38.800> collapses<00:05:39.280> which<00:05:39.440> inevitably<00:05:40.080> it<00:05:40.160> will

it collapses which inevitably it will

it collapses which inevitably it will collapse<00:05:40.720> so

collapse so

collapse so some<00:05:41.520> people<00:05:41.680> have<00:05:41.759> made<00:05:41.919> huge<00:05:42.160> amounts<00:05:42.320> of

some people have made huge amounts of

some people have made huge amounts of money<00:05:42.560> on<00:05:42.639> this<00:05:43.440> some<00:05:43.680> people<00:05:44.240> have<00:05:44.479> lost<00:05:44.639> huge

money on this some people have lost huge

money on this some people have lost huge amounts<00:05:45.039> of<00:05:45.120> money<00:05:45.360> on<00:05:45.440> this

amounts of money on this

amounts of money on this but<00:05:46.560> there<00:05:46.720> will<00:05:46.960> be<00:05:47.120> more<00:05:47.280> losses<00:05:47.600> to<00:05:47.759> come

but there will be more losses to come

but there will be more losses to come when<00:05:48.080> the<00:05:48.240> people<00:05:48.400> who<00:05:48.479> are<00:05:48.560> holding<00:05:48.880> it

when the people who are holding it

when the people who are holding it for<00:05:49.520> you<00:05:49.600> know<00:05:49.919> this<00:05:50.080> is<00:05:50.160> my<00:05:50.320> worry<00:05:50.560> that

for you know this is my worry that

for you know this is my worry that extends<00:05:50.960> to<00:05:51.199> other<00:05:51.440> things<00:05:51.840> such<00:05:52.080> as<00:05:52.240> bitcoin

extends to other things such as bitcoin

extends to other things such as bitcoin such<00:05:52.880> as<00:05:52.960> tesla

such as tesla

such as tesla mad<00:05:55.199> online<00:05:55.600> crazes<00:05:56.240> as<00:05:56.400> it<00:05:56.560> were<00:05:56.880> where

mad online crazes as it were where

mad online crazes as it were where ordinary

ordinary

ordinary ordinary<00:05:58.319> investors<00:05:59.039> ordinary<00:05:59.600> people<00:06:00.000> are

ordinary investors ordinary people are

ordinary investors ordinary people are buying<00:06:00.479> these<00:06:00.639> things<00:06:00.800> because<00:06:01.039> they<00:06:01.120> see

buying these things because they see

buying these things because they see this<00:06:01.520> online<00:06:01.840> hype

this online hype

this online hype they're<00:06:02.560> getting<00:06:02.800> pumped<00:06:03.120> up<00:06:03.199> by<00:06:03.440> just<00:06:03.680> pure

they're getting pumped up by just pure

they're getting pumped up by just pure mania<00:06:04.639> and<00:06:04.800> when<00:06:04.960> they<00:06:05.120> collapse

mania and when they collapse

mania and when they collapse my<00:06:05.840> worry<00:06:06.160> is<00:06:06.479> who<00:06:06.720> is<00:06:06.800> going<00:06:06.880> to<00:06:06.960> be<00:06:07.120> left

my worry is who is going to be left

my worry is who is going to be left holding<00:06:07.759> the<00:06:07.840> baby<00:06:08.080> when<00:06:08.240> these<00:06:08.319> things<00:06:08.560> fall

holding the baby when these things fall

holding the baby when these things fall gary<00:06:09.440> stevenson<00:06:10.000> thank<00:06:10.240> you<00:06:10.400> as<00:06:10.479> well<00:06:10.720> great

gary stevenson thank you as well great

gary stevenson thank you as well great to<00:06:10.960> speak<00:06:11.199> to<00:06:11.280> you<00:06:11.360> both<00:06:11.600> about<00:06:11.759> this

to speak to you both about this

to speak to you both about this fascinating<00:06:12.639> story

fascinating story

fascinating story i<00:06:13.440> look<00:06:13.600> forward<00:06:13.759> to<00:06:13.840> seeing<00:06:14.080> how<00:06:14.240> it<00:06:14.440> develops