Ep. 689 - The Visible Fist Of The “Free Market”
The Michael Knowles Show
The Michael Knowles Show
4.7 • 29.5K Ratings
🗓️ 29 January 2021
⏱️ 51 minutes
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| 0:00.0 | This episode is brought to you by Slack. With Slack, you can bring all your people and |
| 0:05.9 | tools together in one place. It's your digital HQ where you can increase productivity, |
| 0:11.1 | enable flexibility and automate workflows. Plus, Slack is full of game-changing features |
| 0:16.7 | like huddles for quick check-ins or Slack Connect, which helps you connect with partners |
| 0:20.9 | inside and outside of your company. Slack, where the future works. Get started at |
| 0:26.9 | Slack.com slash DHQ. The Reddit Revolt has cost short sellers, institutional investors, |
| 0:36.1 | more than $70 billion so far this year. This year hasn't been going on for very long. |
| 0:42.9 | This all part of the GameStop madness, the Dogecoin madness, and most importantly of all |
| 0:48.3 | for our politics as a result of the established platforms, the big institutions pushing back |
| 0:56.9 | will get into it. I'm Michael Knowles. This is the Michael Knowles Show. |
| 1:06.8 | Welcome back to the show. My favorite comment yesterday from Curbable Air Force, who says, |
| 1:11.3 | I have dubbed this outsider trading. That's the thing. When we talk about insider trading, |
| 1:17.7 | we say people who have sort of secret knowledge that they shouldn't have and they make money, |
| 1:22.0 | it's illegitimate. Well, there's another kind of insider trading. It's people who are |
| 1:25.4 | on the inside who are in the giant financial institutions who are cozy with the regulators, |
| 1:31.2 | who are cozy with the tech apps that are the broker dealers that allow you to make these |
| 1:34.7 | trades. Then they're the outsiders. These rap scallions on Reddit and other retail investors |
| 1:41.8 | who, when they try to use the same strategies that the institutional investors do, they get |
| 1:47.5 | completely shut out. Can't have those peasants making too much money at all. It just reminds |
| 1:54.2 | us when we see how rigged so many of these systems are, you got to protect your data online. |
| 1:58.8 | You've got to get ExpressVPN. Big tech companies have a ton of power in our country today. |
| 2:04.3 | And as private entities, they can operate pretty much as they choose. Protect your personal |
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