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GameStop, Reddit & Robinhood: The System Is Rigged
Crashes And Taxes Podcast
English - February 04, 2021 07:00 - 28 minutes - 39.6 MBInvesting Business Entrepreneurship 401k businessfinance finance retirement stockmarket Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
What happened last week with the subreddit Wall Street Bets, GameStop, Robinhood and multiple hedge funds is just the latest example that the system is rigged.
When private, retail investors banded together and gave the hedge funds a run for their money, we saw a coordinated effort to censor and silence them. Every free market principle was compromised by shutting down message boards and the trading of certain stocks.
Why shut down public disclosure and discourse? Why clamp down on the free exchange of information?
We’re treading into dangerous territory when we start to censor certain opinions and viewpoints that we don’t like, and even more so when we impinge on people's rights to operate freely within the law.
We need more transparency, openness and public dialogue, not less. The minute we start to limit public discourse, we start to compromise our freedom, and Americans are waking up to that.
In this episode, I talk about what the GameStop situation tells us about our country, and the immediate dangers of censorship.