In this episode of the Stock Market Movers podcast, host Ryan Henderson is joined by financial YouTuber Matt Kors to discuss the latest cyber attack on the U.S. food system and the impact it could have on the economy. They also discuss the recent surge in AMC (AMC) stock and what it means for the future of the stock market.
00:00:25.000So it's been I don't know how many weeks since the last major piece of critical infrastructure
00:00:30.000was held hostage by, so they say, Russian hackers.
00:00:34.000And then the company paid the ransom within a few hours.
00:00:37.000And it still led to this massive oil pipeline, the largest pipeline being shut down, which
00:00:41.000resulted in people panic buying gas and there being gas shortages across the East Coast.
00:00:47.000And now the largest meat processing company, I believe in the world, with 23% of all US beef production and 20% of pork production has just shuttered all of its plants due to a cyber attack.
00:01:43.000And on top of that, you get the mainstream media saying, like, everything's A-OK.
00:01:46.000The economy is doing better than ever.
00:01:48.000And at the same time, Joe Biden's printing trillions.
00:01:51.000Economists are warning the dollars on the verge of collapse.
00:01:53.000People have become millionaires by buying fake money.
00:01:55.000And people are now, interestingly, engaging in what we would refer to as kind of like an Occupy 2.0, a digital Occupy Wall Street, where people are sticking it to the hedge funds, buying up these stocks.
00:02:08.000Which is, well, in some ways rescuing these companies, making a lot of people rich for a silly reason, but screwing over a lot of the wealthy elites.
00:02:16.000So it's kind of like a class war is happening on top of an actual war or something.
00:02:35.000So for those of you who don't know me, name Matt Kors, I'm on YouTube.
00:02:39.000Just talk about a lot about stocks, options, crypto, just kind of what's going on in the market.
00:02:43.000And recently, the hot topic has obviously been AMC.
00:02:47.000And it's very, very similar to the storyline of what we saw in GameStop back at the end of January, early February.
00:02:53.000And even today, right now, we were just talking about it, of how much it ran today, and then in after hours, it's up almost another 20%.
00:03:00.000These are Black Swan events back to back.
00:03:03.000Like, this is statistically more rare than just lightning striking over and over again.
00:03:09.000I think it's a new kind of, some kind of conflict, some kind of warfare.
00:03:12.000I mean, people might just think it's funny to buy a stock, but it's really upending the system, you know?
00:03:17.000I will say, full disclosure, I do have AMC stock.
00:03:21.000I bought a small amount earlier just because, so most people know I'm friends with Cassandra, and she's been tweeting like crazy, and I'm like, you know, like Fast 9 is coming out, and everybody knows the FFCU is way better than the MCU by like several quarters of a magnitude, so I'm excited for the movies, and I was like, I think movies make sense to invest in, but we're gonna be talking about AMC stock.
00:03:53.000I mean, from Monday until this moment, it's probably up close to 200% from Monday until now, a little bit over a week.
00:04:01.000We have art on the wall from this guy, George Alexopoulos, and one of his comics is this, like, grandpa being like, I don't have a lot to leave you, son, you know, I don't have that much money, and he goes, I just became a millionaire buying fake money!
00:04:12.000I'm like, there's something wrong with the economy right now, and it's not just the fact that people become millionaires off crypto and stocks in these weird moments, but, I mean, our infrastructure's under attack, Joe Biden's printing money like crazy, there was a house that sold, WAPO reported this, a million dollars over asking price.
00:04:28.000And it's huge news because people are panicking to get out of the dollar.
00:04:32.000Rich people are like, I'll take it, I don't care.
00:04:50.000I'm really excited to have this conversation with Matt, because as you guys all know, this is not really something that I'm well in tune with, and he's a great explainer.
00:05:27.000And there's some pretty interesting things he said, so that's what TimCast.com exists for, so that we can have those conversations outside of YouTube's censorship.
00:05:36.000And he said some pretty interesting stuff.
00:06:05.000revenue just for free because they're authoritative.
00:06:07.000Well, if we're going to compete with that, here's what we do.
00:06:09.000You guys who are watching, smash the like button, seriously, and then share the show, be it the podcast or the YouTube link, take the URL, post it on Facebook, Twitter, wherever you can, and tell people to give it a listen, because we're going to be talking about stuff that is, I mean, well, we'll probably be a bit partisan, as we usually, you know, we're not big fans of the establishment, which includes Republicans, but mostly Democrats, but we're going to be talking a lot about the financial markets and how it's screwing everybody over, and I think everyone can get behind that.
00:07:04.000All the companies fed beef and regional beef plants were forced to shutter, and all other JBS meatpacking facilities in the country experienced some level of disruptions to operations.
00:07:15.000According to an official with the United Food and Commercial Workers International Union, JBS did not immediately respond to a request for comment.
00:07:23.000And I also want to point out, you know most people don't know this, there's a chicken shortage.
00:08:45.000I wonder if it's worse than they actually say it is.
00:08:49.000Because I'm not gonna get conspiratorial or anything on this one, but there's a cyber attack on Colonial Pipeline, which shuts down the biggest oil pipeline in the country.
00:09:00.000And just before that happened, some people were saying there was like a massive leak of oil.
00:09:04.000Some people have said, if they paid the ransom to the hackers within three hours of the hack, why did they shut the pipeline down?
00:09:10.000Why did DHS come out and say there was no shortage when like 87% or 83% of gas stations in DC had no gas?
00:09:17.000They blamed it all on people panic buying, which some people did.
00:10:23.000The word they phrased it, a major meat shortage, makes me think maybe we're about to see something we've never seen before, at least in this generation.
00:10:32.000With the other shortages you were talking about, is there like reasoning behind that?
00:10:35.000I think you said the chips make sense, I've been paying attention to that, but I think you said chlorine.
00:10:39.000Is it because like production was stymied in 2020 and like now we're seeing the net results of that?
00:10:45.000Or is there like a different reasoning per one?
00:14:29.000I brought this one up just to be, like, as an aside.
00:14:31.000We got these meat shortages coming, and they're telling people, like, it's time to, uh, to eat the bugs.
00:14:36.000I kind of feel like a big problem with what's happening is for one Joe Biden is doing this this unemployment boost they're doing the child tax credit so they're giving people money like crazy nobody wants to work there are supply side issues then at the same time we get these cyber attacks and that's why I kind of feel like it's all kind of weird you know I'll give you some historical context about the idea of conspiracies real quick and then we'll go to the next subject but When the Gulf of Tonkin incident happened, that was when the U.S.
00:15:07.000claimed to have been attacked, and so we were forced to enter the Vietnam War.
00:15:11.000I guess historians now say it's not true, that it was a false flag, or there's no evidence to claim that we were attacked in the Gulf of Tonkin, and it was likely just made up so that we would enter the war.
00:15:23.000When that happened, people had no idea.
00:15:26.000Like, imagine you're, like, sitting in your room, and then all this stuff is happening in Vietnam, and you have no idea.
00:15:33.000Or more importantly, like, imagine the Revolutionary War.
00:15:35.000You're sitting in your house, you know, just finished, you know, farming or whatever, and at that moment, they sign a Declaration of Independence 400 miles away, you have no idea.
00:15:44.000You find out a month later when a postal carrier shows up.
00:15:46.000You're like, oh, we went independently this month, I guess.
00:15:48.000So what's happening right now, which I find interesting, is that the media wouldn't be telling us if there was a very serious conflict happening, something that was targeting our critical infrastructure.
00:15:58.000They wouldn't be telling us if something like right now, there could be a very serious thing that just happens.
00:17:30.000There's the theory that the market was crashing anyway, and that people were happy to use the COVID lockdown as an excuse to start printing massive amounts of money and just expedite the crash, ultimately.
00:17:43.000So if that was the case there, then we see like a meat shortage.
00:17:47.000So maybe now they're expediting that by trying to hack it.
00:19:33.000They're shorting more shares than actually exist.
00:19:36.000Which is manipulating and destroying these companies, which is unfair.
00:19:39.000And so this dude's like, I like the stock, and he buys a bunch of it, rallies a bunch of people, and I wouldn't say directly, he's just like, hey, look what I'm doing.
00:19:47.000So then people were like, well, buy the stock too, and it screwed over all these hedge funds.
00:19:51.000So a lot of this ties into crypto, but let's just start from the beginning and then, you know, take us to where we gotta go.
00:19:58.000What's happening right now, AMC is up $38.50, I think.
00:20:09.000Yeah, well, first of all, congratulations.
00:20:11.000I know there was a lot of people who were watching it today.
00:20:13.000After hours, it's just continuing to go bonkers.
00:20:15.000And really, this entire group of stocks are just highly shorted ones.
00:20:19.000And it all started with this Roaring Kitty character.
00:20:23.000Back in 2019, he just slowly but surely on Reddit posted he liked GameStop.
00:20:28.000And throughout 2020, it really got some traction.
00:20:31.000The stock was doing a bit better, but people liked the size of it.
00:20:36.000Way back in 2019, he put like $50,000 on it, or yeah, $50,000, and he was confident.
00:20:41.000And then in 2020, the world shut down, a lot more internet consumption, people started taking note of it, and then in January, it started to pick up, and that's when it went crazy.
00:21:14.000It's more of a reference to really almost poker.
00:21:17.000Like if you have a strong hand, you don't fold.
00:21:19.000So diamond being the strongest thing, it's like you're just not folding.
00:21:22.000No matter what happens, technically, fundamentally, you are just not getting out of the position.
00:21:28.000And that just caught, I think it was really the perfect storm of a couple psychological events of people in 2020 hurting for money, sitting around hearing this cool story.
00:21:52.000Yeah, they liked where it was going with it, and then when it exploded in January, for those of you who haven't been following the story that closely, in late January, before we knew it, GameStop was trading sub-50, and at one point in pre-market, it was above 500, in market hours, it was above 400.
00:22:07.000It was going so crazy, and people were making a lot, a lot of money.
00:22:12.000So at that point, what had happened is, this all happened because there was a high short interest.
00:22:17.000In the world of stocks, you buy a stock, you hope it goes from X up to Y, and you profit that difference.
00:22:21.000So it's like, if you buy a stock at 5, it goes to 10, you sell it, you get 5 bucks profit.
00:22:27.000So, in the stock market, there is an option to do the opposite.
00:22:30.000You can sell it at Y, hope it goes down from 10 down to 3, and you profit 7.
00:22:35.000So, with that, the only way to pull that off is, how could you sell something you don't own?
00:22:40.000Well, you end up borrowing it from someone, and it's basically an IOU.
00:22:43.000You want it to go down, you buy it back, and you give it to that person.
00:22:46.000Well, it got so out of hand with GameStop at one point, out of all the shares in existence, there was 140% short interest against it.
00:22:56.000So like people are like, how is that possible?
00:22:59.000How could you possibly short more of the stock than even exists?
00:23:02.000Because like someone was borrowing it and then selling it to someone else who was then using it to like, and then someone borrowed it from him.
00:24:17.000And like, if you own a stock, your risk is technically capped if it goes to zero.
00:24:21.000If you're short a stock, your risk is technically infinite because it could just keep going up and up and up.
00:24:26.000And that's what happened when you have so many shorts.
00:24:29.000Mathematically, the ceiling just goes higher and higher for every short.
00:24:32.000And so people saw this phenomena, and they found other highly shorted stocks.
00:24:37.000So GameStop led, and they're like, hey, I kind of missed that train.
00:24:39.000But all of a sudden, you have BB, NOC, COS, and one that really, really caught people's attention, and honestly, why I'm here right now, is because of AMC.
00:24:49.000So people noticed it, and in early February, all these highly shorted stocks kind of took a breather.
00:24:55.000But at that point, the AMC community specifically, it exploded on Reddit, Twitter, and YouTube.
00:25:03.000I think something about the point of, it was a psychology play of with GameStop, if it was trading at 200 bucks, you could buy one share, and then if AMC's trading at 10, you could buy 20.
00:25:13.000So you just felt like you could buy more, like there was more of a psychological reward, especially with a potential massive squeeze incoming.
00:25:19.000It's like, well, I'll make more money.
00:26:34.000So with that, and then it gets more out of hand because you bought these fake shorted shares, like people refer to them as synthetic shares because they never should have been shorted.
00:26:43.000You bought them off of him, you think you have legitimate shares.
00:26:46.000So then you loan them out to someone who actually wants a short, and you get this tree root system of all these actions that should have never happened because of the initial naked short.
00:26:55.000So the system is basically, it's got a bunch of hollow points.
00:26:59.000And then what, when it comes due, what happens?
00:27:03.000So that's the interesting thing is so the way we're using a broker you like you sign up to Weeble or whatever it is you have a broker will hedge funds have prime brokers and just a fancy name for whoever facilitates their trades.
00:27:16.000So really the prime broker is the person who is supposed to locate the shares for them to short.
00:27:21.000But to the best of my understanding, they have like two days to locate them.
00:27:24.000Sometimes they don't, and they can even kick that can down the road.
00:27:27.000And before you know it, in high volatility, stocks do so many trades so much, and you just don't know how out of hand it gets.
00:27:33.000So really, they get a slap on the wrist.
00:27:35.000They're supposed to buy the shares that should have never existed off the market, and they did it.
00:27:40.000But one of the main things I kind of stress to my audience is, yeah, OK, you bought those shares off, but there's no way to get back any of the damage that was done from the result of how long they were on the market.
00:27:50.000So hold on, let's think about it for a second.
00:27:52.000It sounds to me like, what's AMC currently short interest?
00:28:29.000There were so many hedge funds piling against AMC, GME and these others, there was a good chance of them forcing it to go bankrupt.
00:28:36.000But with a whole bunch of bored internet people, that's a really difficult thing to go up against.
00:28:43.000It's a hive of bored people with stimulus checks.
00:28:46.000And I think that's one of the things really going against the hedge funds right now of from early February till now the community specifically in AMC is getting bigger and bigger and bigger.
00:28:57.000The CEO Adam Aaron was talking about there's 3.2 million Retail investors, individual investors, and that was actually a little bit ago.
00:29:07.000So now it's just the word is spreading.
00:29:09.000Even this, me talking here, more people are finding out about it and it's getting bigger and bigger and bigger.
00:29:14.000So at first it was this storyline of David and Goliath, the little retail traders, but now there's so many little Davids that you almost have like a whole nother Goliath versus that original Goliath.
00:29:24.000There's some questions about the The security in the value of like a stock, for instance, because they can always dilute.
00:29:32.000You know, when we look at Dogecoin, for instance, the price goes up simply because it is a scarce commodity to a certain degree.
00:29:39.000Its price reflects its scarcity and the demand for it.
00:29:41.000So Bitcoin is becoming increasingly more scarce just by nature of what Bitcoin is.
00:29:46.000People want to use it because it's a safe, decentralized store of value.
00:29:49.000So the more people want to use it, the price just keeps going up.
00:29:52.000So the people who are holding it are happy, and people want to get in because it's going up, and it's like a system where everyone's just like, we gotta buy more, which just drives the price higher and higher.
00:30:00.000With stocks, they could dilute, and that could negatively impact you.
00:30:04.000All of a sudden there's more shares, they get sold, and now it devalues a lot of the shares.
00:30:08.000But at the same time, it's not incredibly common that they'll just keep printing shares, right?
00:30:15.000Well, there is a process where you, like, ask for shareholder approval to authorize new shares, then they're authorized, and the board and the leadership team, when they deem it necessary, then they can do it.
00:30:25.000So, like, there is a certain, I guess, process that they're going to go through.
00:30:29.000But even talking about that, that happened to AMC today.
00:30:35.000So it's not a definitive thing because sometimes you're diluting or you're doing an at-the-market offering to raise money, and then it's the perception of the public of, did they do it for a legitimate good reason?
00:30:47.000So yesterday they sold about 8.5 million shares for around $27.
00:32:00.000The stock market is so emotionally driven and sometimes that could be used to a benefit and other times it's not but it was just so strange that they bought it at 27 like that and then they sold it today and not only was it a weird timing and they did it all at once you could see the volume traded in like a particular three minute time frame But beyond that, they went out of their way to make a public statement that it's overvalued.
00:32:26.000So within one day, they loved it at $27,000, and then they tried to drop it at $32,000, $33,000.
00:32:40.000When you know people are paying attention to it and you go out of your way to make a public statement where it's just listen to and that's what why this is getting they're just throwing gasoline onto the fire with this type of thing when you act that way because people who are on the fence of like maybe there isn't manipulation maybe we're overstating it then they hear storylines like this and you're like what are you possibly do like it's so so bad and then There's a couple more things that play into it, but then the media reports on it, and it's always like, retail, they shouldn't be doing this, blah blah blah.
00:33:13.000Like, it just gets so out of hand, and it's just feeding the fire bigger and bigger.
00:33:16.000This is what I was saying earlier on with the other segment about, you know, meat shortages and stuff, was that it's like the system is collapsing, and they're trying to bail water, but they're making it worse.
00:34:40.000And he was on the show talking about how these hedge funds just get free money from the government anyway.
00:34:44.000The government just prints stuff, gives out the loans from the Fed, and then they can just do whatever they want with it, and it manipulates the whole system, and it basically strips the value from working-class people.
00:34:52.000all of a sudden, whether intentional or not, working class people said, I want to play the
00:34:56.000game too. And now they're, you know, firing their lasers on the same direction and it's causing
00:35:00.000serious problems for the ultra elites and the financial system itself, which has been stripping
00:35:05.000value from working class people. It's just, it's exactly that.
00:35:10.000It's that, like, the pompous attitude of an elitist of, like, I know what's best, I'm doing it right, let me gut the economy to make millions or billions myself.
00:35:20.000And, like, working class, hey, you'll be fine.
00:38:39.000Let's say a stock's trading at $5, and it's got a lot of short interest because they're like, it's a trash company, it's not gonna work, the market's changed.
00:38:47.000And then you get someone on the internet that says, hey, everybody buy this.
00:39:07.000Every time it goes up and they think it's overvalued, it's basically two forces.
00:39:12.000The internet stock meme people are betting that they can have
00:39:18.000diamond hands longer than the short sellers can hold out.
00:39:22.000So like you mentioned, if they gotta pay a fee and the people holding the stock don't, then it's lopsided in favor of those who just bought the stock and are sitting on it.
00:39:30.000It sounds like it's not even a gamble. I mean a lot of people have likened, like they're saying millennials are
00:39:35.000playing the stock market like a casino.
00:39:37.000And I'm like, I don't know, the way you describe it, maybe you're wrong.
00:39:40.000Maybe I shouldn't take advice from you, but if you're right, it sounds like you're saying it's a really, really good bet
00:40:56.000I saw a meme that said GameStop is the new gold and AMC is the new silver.
00:41:01.000Because people are making the joke where it's like, as long as it's a scarce resource that could be a store of value and it can't be copied, store your money in a stock I guess.
00:41:11.000Because it doesn't matter if the company is doing well or not if people just believe in the stock.
00:41:16.000So it's like, you know, we had a We routinely have people here who say, I'm not a fan of Bitcoin for some reason, right?
00:41:23.000And they always go like, where's Bitcoin's value come from?
00:41:31.000It's a deflationary currency, or I shouldn't say currency, it's a deflationary store of value.
00:41:37.000And people feel confident that if they buy it, they will retain or gain money.
00:41:43.000So long as that confidence exists above a certain threshold, it's gonna keep going up.
00:41:47.000And when you see Goldman Sachs and Morgan Stanley and whatever, when they're all just basically like, yes, we're bullish on Bitcoin, I'm like, okay.
00:42:15.000The funny thing is, it seems like the power of the internet and the meme factories, the meme magic in this, is real.
00:42:25.000And the media's attempts at manipulating isn't working, right?
00:42:28.000So I think what recently CNBC called GameStop and AMC penny stocks or something like that, and GameStop's at like $2.50 and AMC was trading at like $20, broke the $20.
00:42:38.000Everyone's freaking out and they're saying it's penny stocks.
00:42:40.000They're trying to meme it down, but there's too many people online who are like, I'm just going to buy it anyway.
00:42:47.000Here's the way, here's how I feel about it.
00:42:49.000I bought Doge and I'm just like, I honestly don't care.
00:43:07.000You get a check from the government that you don't need, and they give you like $600 or whatever, a stimulus, and you're thinking like, I don't know what I'm gonna do with it.
00:43:14.000You can't buy a PlayStation, they're all out.
00:43:16.000It's like, okay, well, you know, I got a computer, I can play computer games, uh, you know, whatever, I'll just buy some GameStop, I guess.
00:43:20.000And then they forget about it, and then they're just holding it and not caring because they didn't need it in the first place.
00:43:52.000They're so pot committed to this play and I love it and like the hedge funds or even now there's some retail who think it's gonna go down and they're betting against it.
00:44:00.000I think they've played it wrong in two very notable ways and the first way they did it was actively speaking out against it.
00:44:06.000They're going on certain news outlets and they're just fanning the fire.
00:44:10.000One of the best things they could... it's as weird as it sounds they don't get the internet.
00:44:15.000As soon as you tell someone not to do something, it's the first thing you want to do.
00:44:20.000So there's one analyst out there, and about a month ago, he came out with a price target of a cent on AMC.
00:44:29.000And he keeps doubling down, and every time he does it, he now has not only blocked everyone in the community, which had to take hours of his life, he made his Twitter private.
00:44:38.000Because, like, everyone was just arguing with him, and that was the joke.
00:44:46.000I just don't get it, but it's in the green.
00:44:49.000It's the game to us, and they just don't get it.
00:44:52.000And that has not only thrown gasoline on the fire, which I keep saying, but now some of these other hedge funds, they're joining in on our side.
00:45:01.000BlackRock, the world's biggest hedge fund, is long.
00:46:06.000Like, you look it up, Citadel, like from 2006 till now, there's like 20 times, 50, some absurd amount of times that they were caught, which doesn't tell you how many times the FINRA and SEC did not catch them doing stuff.
00:46:20.000And it doesn't matter, they have so much power.
00:46:22.000Citadel Security's world's largest market maker.
00:46:30.000What do you do with the money when you get it?
00:46:32.000Let's say you're somebody who, uh, you get a stimulus check, you bought a bunch of, uh, you know, stock of some sort, it skyrockets, you're a millionaire.
00:46:43.000The problem is, the housing market's insane.
00:46:45.000People are buying property sight unseen.
00:46:47.000We mentioned earlier in the show, there's a WAPO story about a house that sold for a million dollars over asking, just because people are like, I don't care, I'm gonna buy the house.
00:47:24.000I think for them, because they started pretty close to zero, many, many people, they're just like, well, let's see how big I can get it for like, they just, the joke is when Lambo, but they're basically describing like, when do I get life changing money?
00:47:39.000And I mean, just anecdotally, I don't have the stats on it.
00:47:41.000But like, the thing I hear is, I finally paid off my student debt, I finally paid off my mortgage, I finally am not begging Verizon to keep my internet on.
00:48:05.000Some people were reaching out to me of just super, super sad things of like, I was financially stuck in an abusive relationship and I can finally leave that.
00:48:14.000And like that just resonates like I started this for the lows and the jokes but like seeing what it's become and like positively impact it and I get what you're saying about like certain material things but I think um just how I'm like a deeply human level how upset people have been like with how their life has been going they viewed they're clinging on to hope and I think that cling on to hope is the exact reason why these hedge funds, they're not going to end up winning it because I think they're undervaluing people's ambitions.
00:48:42.000It starts as the joke, but when you like really unpack the psychology of it, I just don't see how they end up winning this particular one.
00:48:50.000I think a lot of this is evidence to state that the U.S.
00:48:55.000dollar is going to collapse to some degree, meaning it'll exist.
00:49:00.000I'm not saying it will cease to exist.
00:49:02.000But if you've got people who are getting millions of dollars and then just putting it right back in, if you've got hedge funds now joining in and people don't want to work, what's the value of a dollar if you can't buy something with it?
00:49:15.000So if somebody's got millions of dollars in stock, they don't need a job.
00:49:21.000If people are getting paid by the government, unemployment checks, bonuses, they don't need to work.
00:49:26.000If you can't even buy the PlayStation you want, then what am I looking forward to with working anyway?
00:50:40.000And then like, I'm sure you guys are better to comment on like, then what it changes in Competition to the yen and that stuff.
00:50:47.000There are serious political, global ramifications of the actions, and I'm by no means an economic expert, but I'm at least smart enough to recognize it's not good.
00:50:57.000Yeah, I think... I'm not going to tell anybody what they should or shouldn't do.
00:51:01.000I don't give financial advice on this show, but I'm buying crypto.
00:51:06.000I was reading... What was I reading today?
00:51:08.000Well, for one, we saw recently Goldman Sachs announced They're like, you know, oh, crypto is a new, you know, key asset or whatever, an asset, a class, an asset class.
00:51:18.000So they're like telling people, like, this is something you want to buy.
00:53:05.000The rich people buy it all up, and then after that dip, Goldman Sachs comes out and they're like, oh by the way, we're going to recommend all of our wealthy clients buy more into this.
00:53:16.000So I'm like, I look at what they're doing.
00:53:18.000I wouldn't necessarily do everything they've done.
00:53:21.000You know, shorting GameStop seemed to have been a very bad idea at AMC.
00:53:25.000But I also wonder if what they're doing with crypto manipulation is to cover their losses.
00:53:30.000Like a lot of these hedge funds are like, if we go belly up, it's going to be 2008 all over again.
00:53:36.000And it's like, well, let's steal the money from poor people through cryptocurrency and use it to cover our losses.
00:53:41.000It's one of those things that on my end of it, it's hard to tie things exactly together unless you're the one executing the trade, but we really commonly see the opposite moves as if they're trying to cover margin requirements, liquidity calls in other markets and that stuff.
00:53:58.000And it's an easier asset class to move money, to wash money through.
00:54:02.000You do see weird things, and I'm like, maybe at that point I'm putting on my tinfoil hat, but I don't know.
00:54:14.000How could a regular person think that they're going to be able to beat the hedge funds who have got friends in government covering their asses?
00:54:22.000At the same time, I wonder how can the hedge funds think they're going to go up against 3.2 million regular people who can just flood the zone with cash and shut them out?
00:54:29.000It's hard to know which way it's going to go.
00:54:31.000I mean, one thing we haven't touched on is at the start of February, the brokerages just stopped the buying.
00:55:05.000And we're not, like, the way the legal system moves, it's so slow, and like, right now there are certain federal and statewide cases against Robinhood.
00:55:13.000But you hope it doesn't happen again, but we're about to find out most likely and we'll see.
00:55:18.000But the amount of distrust in the system at large, whether it's the political system, the economic system, I feel like it's growing.
00:55:28.000And like, I don't know, like at my age, maybe I just haven't seen enough.
00:55:31.000Maybe it's been worse at other times, but the times that I've been actively paying attention to it, it does seem like it's upticking of just like the underlying anger and distrust for our systems.
00:55:43.000Just people like, I'm gonna turn my paycheck, I'm gonna double my paycheck right now, you know what I mean?
00:55:46.000Like, you go, you work, you get a couple hundred bucks, or, I mean, a lot of people aren't working, but let's say you did work and you got paid a thousand bucks, you're like, whatever, I'll put in an AMC for the week, pull it out back at two thousand, right?
00:56:38.000And you want everyone to buy in so you can cash out.
00:56:40.000Yeah, I mean, I think I even experienced a little bit of that after the Doge run up.
00:56:45.000Like, everything seemed to be like, they even pitched us that.
00:56:48.000They're like, oh, it's just another meme one.
00:56:49.000Like, they were trying to hop into it.
00:56:51.000And I always took the argument that it's very difficult to recreate a perfect storm.
00:56:57.000But man, if GME was one, it seems like the community at large is about to pull it off with AMC again.
00:57:03.000They, to some degree, pulled it off with Doge, and we don't even know if that storyline's really over.
00:57:08.000Like, the same thing, it went up, might be taking a breather, sell out a new price, and then rip again.
00:57:12.000Like, you just don't know, but it seems like all the changes, and maybe it's because of technology, it happened so much more rapidly, and at, just like, The ferocity of it is just such a greater magnitude of like just the the swings up and down just across the board.
00:57:44.000The more money you make, the more you do, and eventually you get so big, you're actually swaying the market yourself with your buying and your selling.
00:57:50.000Like, the act of buying the dip makes it spike up, and then you, when other people get FOMO and buy in, you sell.
00:57:56.000That, it's just, you know, watching cryptocurrency prices, where it's like $42, $33, $37, I'm like, man, people are becoming billionaires off this.
00:58:41.000In a convenience store chain first, Pennsylvania's Sheetz, I'm saying that very carefully for YouTube, to start accepting crypto.
00:58:49.000Quote, we're very excited to be working with Flexa to roll out support for cryptocurrencies and other types of digital assets at our stores.
00:58:55.000Linda Smith, payments manager for Sheetz, said, gotta be very careful with that.
00:59:26.000It was groundbreaking when you could go in, you have a machine, and you could pick, like, I want a sausage sandwich with onions and this, and then it's made to order.
00:59:34.000First gas station I'd ever seen that at.
00:59:38.000I'm a Penn State alumni, and the current CEO, she's from the area family and everything, so she talked to some of the business entrepreneurship classes.
00:59:47.000Who do you think their biggest competitor is?
01:00:13.000I guess there's some places on the road when you're like driving on a road trip You'll see a McDonald's with gas pumps, but it'll be like a.m.
01:00:20.000Yeah, exactly So this is this is big I look at what's going on the stocks and I wonder if it's all still part of the plan You know a bunch of people get these these stimmy checks They throw them in stocks and then everyone rallies and everyone's cheering for it And then I wonder if the big move is to get cryptocurrency new technology new opportunity certainly a lot of people became rich off Dogecoin certainly a lot of people lost a lot of money on Dogecoin because It's a game of hot potato, I guess.
01:00:44.000If you didn't sell your Dogecoin, you didn't lose anything.
01:00:47.000But some people panicked and sold, and they ended up losing everything.
01:00:50.000So I wonder if there's gonna be a big shift, and, you know, with more and more corporations adopting crypto, what is it, I think KFC announced they were doing Dogecoin as well?
01:01:11.000It doesn't matter if it's inflationary, because you're doing quick transactions with it, you don't store your value in it, you store your value in Bitcoin.
01:01:18.000So it's actually, might actually be pretty good.
01:01:21.000Ian's got this look on his face like, no.
01:01:24.000It's such, it's such filamental trash.
01:01:28.000It's like, you can make as much of it as you want, and it has no- Ten thousand per day, I think.
01:01:33.000Hopefully they're going to keep making that much, but there's going to be like, what is it, a trillion, 30 trillion of them or 48 billion of them or something?
01:04:11.000So there's the World Economic Forum, the Davos Group.
01:04:14.000They've proposed something called the Great Reset, which they just refer to as a reset of global capitalism.
01:04:20.000So you look at what's going on with the chaos in the stock market, the chaos in the crypto markets, the chaos in the dollar, the mass printing of money, the quantitative easing.
01:05:08.000When those huge lines run out of those gas stations because of the Colonial Pipeline hack, how many people probably said, you know what, I think I'll go for a walk today?
01:07:41.000It's people's... We are experiencing, whether it's intentional or not, a reset of global capitalism.
01:07:48.000People are finding more value in going to the park, going for walks, building things and DIY projects, instead of owning stuff and eating food and stuff in their faces.
01:07:58.000Have they commented on what it looks like after that?
01:10:17.000It makes no sense for someone to have to go and be a sewer tech Wading through five feet of sewage, and then some other dude is like buying meme stocks and becoming a millionaire.
01:11:18.000But we also need general workstations, so I go online, I go to this, you know, famous store, and I'm like, I'd like to see what you have in stock.
01:14:05.000So I'm really glad that was your... I shouldn't say I'm glad, but I find it fascinating that your immediate reaction was, how do we get out of a war?
01:14:13.000Because there's also something we bring up a lot called Thucydides' Trap.
01:14:16.000Which is a reference to when a rising economic power is about to supplant the dominant power, war breaks out and China is set to surpass the U.S.
01:15:02.000Calling the computer's name and asking a question.
01:15:04.000Now the questions they ask are kind of ridiculous, like, you know, calculate this, okay, well, you know, our little friendly Amazon device can't do all that stuff, but you still say its name and tell it to do stuff.
01:15:33.000We're not, you know, we're not, we don't, we don't do that.
01:15:35.000So with Einstein, he's, he's looking at atomic technology.
01:15:39.000He's looking at all the stuff and he thinks, wow, Whatever, you know, if we have World War III with this level of weaponry, anything after it's going to be sticks and stones, it'll wipe out the planet.
01:15:48.000What he didn't understand was the expansion of communications technology and how it was going to affect people.
01:15:53.000So now we're in fourth and fifth generational warfare, which is information war and propaganda.
01:15:58.000Controlling financial markets is a huge aspect of fourth and fifth generational warfare.
01:16:03.000If your enemy can't buy the supplies they need to feed their people, you win.
01:16:08.000If you shut down their gas pipelines and they can't fuel their vehicles, you win.
01:16:12.000If you shut down their meat plants and they can't feed their people, you win.
01:16:17.000So now what we're seeing a lot more of is internet manipulation, election interference.
01:16:22.000Like, you know, Russia did try to interfere in the election.
01:16:26.000Not as crazy as most of the Democrats think, but they did, as did China, as did a bunch of other countries.
01:16:39.000I don't, I don't know if we'll actually, I don't know.
01:16:43.000I think about this, this, this fourth turning thing and maybe we're about to shatter a mold that's been like, we've been in this repetition state, but because we have the knowledge and we can see the mistakes in the past that, you know, governments have, have used the, these military like, like companies to, to profit and make, we could make industry with graph, like graphene.
01:17:02.000I'm obsessed with graphene for instance.
01:18:24.000Would you rather be, you know, like Morpheus, like people should be free, or would you rather be like Cypher and be like, tastes like steak!
01:18:33.000Maybe there's... I think people would go for it because you just feel like you're always going for some sense of truth.
01:18:38.000Like you feel like you almost want the answer but I guess I can also be scary because you're used to what you know and it's like maybe I don't want to take that type of a pivot but...
01:18:47.000I wonder how the- Like, in the Matrix, you live a normal life, you get steak at a restaurant, you work a job, life's not perfect, but it's good.
01:18:57.000You leave the pod, now you're like, eyes hurt because you've never used them, you've got a bunch of holes all over your body, and you live in a gigantic underground steel chamber eating, you know, white goo.
01:19:27.000They can always plug you back in to the fake Matrix, where they could play video games and, like, download kung fu.
01:19:33.000So, like, the worst case scenario is, you're free from the machines, you live a real life, and then, like, you plug yourself into your own private Matrix and, you know, you're a knight warrior shooting fireballs or whatever and fighting dragons.
01:19:45.000I thought some of the people though, who the simulation theory on general, I know I'm like pivoting a little bit here, but math, like I get that's the argument of like you design technology so robust that you can pull that off and like, are we in that?
01:19:59.000But if you have this infinite line of technology that did it and then within the simulation you did it again, blah, blah, blah, blah.
01:20:05.000What is the statistical chance that we're at the end one that hasn't figured it out yet?
01:20:12.000So, like, you're saying, like, we're in a simulation of a simulation of a simulation of a simulation?
01:20:16.000No, if that was the theory, and, like, we just had this chain of a billion long, what is the statistical chance we're the last one that hasn't figured it out yet?
01:21:06.000So there was one guy who basically said that he was doing DMT and then he met a purple woman who like knew him and cared about him and he's like, wow.
01:21:16.000And then later he brought his friend over and his friend took DMT and he didn't.
01:21:20.000And his friend told him that there was a purple woman there who said, they're friends of yours.
01:21:25.000And he was like, whoa, I never told anyone about that.
01:21:28.000So there's a lot of stories where this happens.
01:22:08.000And I think that's gravity, like pushing them back.
01:22:12.000You know, just to wrap it into what we're talking about, if this is coming up on another Great Depression, are the people that are getting massively wealthy now...
01:22:26.000Are they, like, are they... They're using trainers, bro.
01:22:29.000Someone's got to call a mod in and get these hackers out of here, because this game's not fun anymore.
01:22:33.000Like, are they more dangerous to the Matrix, so the Matrix is trying to bribe them to stay in it?
01:22:38.000No, no, it's like, people are hacking, and so now you've got a bunch of people running around with crazy money, and the people who aren't are like, dude, it's not fair.
01:22:46.000I don't want to play this game anymore.
01:22:48.000Some 19-year-old dude is a Dogecoid millionaire, and I'm working at a factory.
01:23:22.000You mentioned the Great Depression and people were buying stock, but you had to physically buy the stock.
01:23:26.000You had to be there, tick the tape, call the broker.
01:23:29.000And they're waving the paper in the air.
01:23:31.000Yeah, it's very, very different now, the technology.
01:23:35.000I don't know what I was reading or watching, but sometimes I wonder if we've gotten so advanced that our technology advancement has not also developed with our brain advancement.
01:23:45.000Like, it's exponential in technology, but with us, like, even certain things, I think sometimes with psychology of, like, social media, if they love you or hate you, we're not used to those numbers.
01:23:56.000Like, our unit size, like, we can, we're very good at picturing 20, 30, 40, but when you see a number like a million, we can't picture that, and it's just how we have developed and evolved.
01:24:06.000Like, that's how we got to this point.
01:24:08.000Our brains are very good at small, compact, unit types of things, And now social media has, you're interconnected with borderline 7 billion people.
01:24:17.000You ever actually see a million dollars in cash?
01:24:21.000So people imagine, like the briefcase opens up, and it's filled to the brim, and they're like, it's a million dollars.
01:24:26.000And there was a funny skit, where like, the mob guy comes in, he's like, you got the briefcase, and he opens it, and there's a tiny stack in the middle.
01:25:30.000So it's really funny, there's a comic where, or a joke, someone says, they said, if you could go back in time and tell someone from the past something that would shock them, what would you say?
01:25:39.000And the guy said, I hold in my hand a device that contains a summation of human knowledge.
01:25:45.000I use it to argue with strangers and look at pictures of cats.
01:25:48.000It's like, with all of that power, that's what we did with it.
01:25:55.000Profound yeah, they're not we we like to view ourselves very highly like we're so smart We've ended all invented all of these things and it's like dude It's it's sad to me.
01:26:04.000Not everybody does it some people take the technology and they do great things with it but I think too many people argue with strangers and look at pictures of cats and Does it make it fun that there's a bunch of people like that?
01:27:05.000Sometimes I'll go through fitness, like, someone's not necessarily an NPC or not, but you can go into NPC mode and just train it in, that's for sure.
01:27:13.000I think, I think people, some people are definitely NPCs.
01:27:15.000Just, just, that's their base nature, and they, you need to pull them, you can give them sentience, I know you can.
01:27:23.000Well, I'm not saying they aren't sentient, I'm just saying, like, I'm not saying they're literally non-player characters in a
01:27:29.000simulation, although you can certainly talk about the philosophical ramifications of simulism.
01:27:33.000But I'm just saying that there's some people that have no passion, no ambition, and they consume
01:28:33.000A couple hundred years ago here in the U.S., people would wake up at the crack of dawn, go farm, go to bed after late night, and then wake up at the crack of dawn, just work all day, go to sleep, work all day, go to sleep, and then the postal rider would come periodically with news.
01:28:49.000They would have to go to town periodically, but, dude, people don't realize.
01:30:04.000A lot of these people who normally just didn't care to be involved, who get involved now, don't understand what they're fighting for and fight for dangerous things.
01:30:12.000So, uh, for instance, all the people marching around doing the red salute.
01:30:15.000It's like commonplace now to see people doing the communist salute.
01:30:19.000It's literally what communist Chinese party members do when they are joining the party and swearing in.
01:30:25.000Now you've got people in the United States marching around in the street by the thousands all doing it.
01:30:29.000And they say, Oh, but it doesn't mean that.
01:30:32.000I'm like, I don't care what you think it means.
01:31:15.000Like, so you can't march around doing the red salute, what the communist party of China literally uses when they're swearing in, and then be like, oh, but it means something else.
01:32:03.000Like these people, like if you, if you blindly march along with authoritarians who have historically murdered people and then you're like, I didn't know, or it doesn't matter.
01:32:17.000They throw themselves behind really, really dangerous and bad people.
01:32:21.000See, it wasn't that political in 2006.
01:32:23.000I think it's more than just the speed of communication.
01:32:26.000It does feel like, I don't want to beat a dead horse, but that the Global Economic Forum is intentionally dividing the people of the United States.
01:32:35.000Why is everybody posting ducks in the chat?
01:34:26.000All right, C. Hennessey says, Tim, are you gonna need a event caterer- event cater coordinator or coordinator in general for the Friday nights?
01:34:35.000I was a private chef up until the Corona.
01:34:39.000We'll probably need a master of ceremonies of some sort, but we may already have that individual here.
01:34:45.000It's not gonna be like, we're not gonna put out charcuterie or anything for people.
01:34:49.000They're gonna like stand outside the parking lot as someone plays music and everyone like, you know, mingles and gets to hang out with people.
01:34:56.000We're doing Friday night events coming up.
01:34:58.000We might be able to figure something out but not for 30 people.
01:34:59.000So everyone can carpool in a bus maybe?
01:35:00.000Yeah, and it's gonna be difficult because tickets are limited and there's no parking, so that's the other thing
01:35:05.000like take an uber I guess ride a bike. I don't know we're in the middle of
01:35:08.000nowhere There's nowhere to park so we might be able to figure
01:35:10.000something out, but not for 30 people So everyone can carpool in a bus maybe
01:35:14.000Maybe and your first one's this Friday. No no no we can't there's
01:35:19.000There's like business stuff we've taken care of before we're allowed to do it, so.
01:35:21.000Like, we were trying to do it earlier in the year, and we got, we got, you know, stopped by business stuff.
01:36:24.000I want to, I have a plan to send a Joe Biden voter to all of the places that Joe Biden screwed up.
01:36:30.000So like, I'm talking to my friend who voted for Biden, and I'm like, I will buy you a first class ticket to McAllen, Texas, to go and film the kid sleeping in the dirt.
01:39:00.000I think that because Democrats shut everything down and the media is now the PR wing of the Democrat Party, I think they have every incentive not to talk about, like, big problems coming our way because of the shutdown.
01:39:15.000On the other side of that, though, if they were doing it, wouldn't we see something weird on the background of just everyone, like, all these tech people are being hired by the government?
01:39:23.000Like, wouldn't there be a certain trail of, like, there's a lot of hiring into some sort of defensive military force if that was going on?
01:40:38.000I'd be glad to move and help out with your media company.
01:40:40.000I make films and music too, entertainment all my life.
01:40:43.000You know, we've got, there's, there's, uh, we want to move as fast as possible in expanding the company, but there's like regulation stands in the way.
01:41:58.000There was, however, two major cyberattacks, Colonial Pipeline and this JBS system, which is not chicken, and that resulted in them shutting down because it was going to affect their computer systems.
01:42:09.000That's separate from the already-existent meat shortages that happened before the cyberattacks.
01:42:15.000DeadbeatGamerz says Snowpiercer was a book-slash-film about two sides of the last humans, rich and poor, surviving Ice Age 2 on a train.
01:42:22.000Spoiler warning, the rich eat only good food, and the poor eat cricket protein bars.
01:42:27.000I don't know about the book, but I can tell you in the film, it's roaches.
01:42:32.000And I can also tell you, in the original take of the film, there's a scene where Chris Evans, he opens this vat that's making these brown bars they eat.
01:46:34.000And it's gonna be like the consistency of meat.
01:46:36.000It'll be like if you eat it backwards it's salty but if you eat it forward it's sweet.
01:46:42.000I don't know if I'm like really connecting weird dots here, but a lot of people in the community, it's, it's a fickle opinion on Jim Cramer.
01:46:49.000Sometimes he loves AMC and tells the short scale, other times they hate him.
01:46:53.000Um, but just last week people were talking.
01:46:54.000He's like, yeah, AMC is fine and everything, but the next thing to run is beyond meat.
01:46:58.000And now with this conversation, I'm like thinking even more about it.
01:47:01.000He was like really pushing beyond meat.
01:48:29.000Yeah, so I definitely think when you look at these meat shortages, what's gonna happen is you remove enough meat from the market, you drive the price up enough, people will start buying other things.
01:48:41.000They'll be like, I guess I can't buy beef.
01:49:22.000You'll be able to order, like, a packet of powder, and then you put it in your machine, and then whatever else, enzymes or whatever, and then after, like, six days, you have all these meat patties or whatever.
01:49:32.000No, you have, like, five pounds of ground chuck.
01:50:01.000He says, Tim, you're significantly more tech literate than the average bear, but many viewers may not be.
01:50:06.000In light of this second attack, would you consider having a cyber security expert on who could help explain different threat actors and their motives?
01:52:32.000It's maxed out, but both are dynamic because it's the amount of people who want to loan them out.
01:52:36.000So if someone like BlackRock's like, I do want to loan mine out, sure, I'll take the interest payments, they'll do it, but then they could also take that supply away.
01:52:43.000So really you have to know the short interest, the shares on loan, and the utilization to get the full picture.
01:52:49.000You need all three because they describe a different part of the mathematical equation.
01:52:53.000Clayton Andrews says, I'm a cattle rancher from Canada.
01:52:56.000Thanks for reporting on the cyber attack.
01:52:57.000Planning on selling lightweight steers this week, but are going to look at markets to see if we should hold.
01:53:04.000Annoys me how AG is society surf class without us knowing society.
01:53:29.000Rylo704 says, you guys are familiar with the Green New Deal, and you're honestly thinking that oil and beef were attacked, with no reprisal from the Feds.
01:53:37.000Not to sound like a Q-Nut, but do you believe it's coincidence?
01:54:11.000FDR knew that we were going to be attacked by Japan leading up, but they didn't know where or when, so they were just kind of like, eh, we need an excuse to get into the war, so... Right.
01:56:16.000What happens to the debt held by Japan, China, and the public, who hold a majority of our country's bonds, if Bitcoin becomes a standard?
01:56:21.000The dollar implodes, and those holding Bitcoin become wealthy.
01:56:25.000The endgame with Bitcoin is that it will be worth around the equivalent of a million or so dollars, and it'll stabilize between half a million and a million at some point.
01:56:33.000It won't stabilize completely, but it'll stay pretty steady, and then you'll have Bitcoin, which will effectively function like your bank account.
01:56:42.000When you want to store money, you transfer it into Bitcoin, and you just leave it.
01:56:47.000And there's a public ledger, like a bank, and then when you want to spend cash, you'll switch to Doge or something.
01:57:44.000You'll need a specific tool and you'll have a subscription service.
01:57:48.000I saw a commercial today for Kitty Poo Club, and I was like, we've jumped the shark.
01:57:53.000First there's like, you know, there's like clubs like Dollar Shave Club, and it's like, when I first saw that I was like, do you really need a brand new razor once a month?
01:58:07.000Then I saw one, I see a bunch of these clubs that like kind of don't make sense, and then I saw Kitty Poo Club, and I'm like, all right, we've done it.
01:58:17.000It's a cardboard box, and it comes with just enough litter to where you put it up, and you fill it up, and then at the end of the week or whatever, a new one arrives and you just toss it.
01:58:50.000I had it all on my hard drive and then Spotify and all these like streaming networks came out and I hated the idea that I didn't own it that I was like this great reset thing.
01:58:58.000They want you to not own it, but and I hated it.
02:03:00.000Matt, you want to shout out your socials and your channel and all that?
02:03:03.000Yeah, if you want to kind of follow along what's going on stocks, options, crypto, Twitter, Matt underscore Coors, Instagram, Twitch, all that same thing, Matt underscore Coors, and then on YouTube, just Matt Coors.
02:03:14.000You can follow me at IanCrossland.net and at Ian Crossland along all lines of social media and check out my music on Amazon and Spotify while you're at it.
02:03:43.000You can ask your little robot device, maybe it's from Amazon or Google, to play Will of the People by Timcast, and it will actually play that song.
02:03:51.000And for those that aren't familiar, just search for it on YouTube and check out the music video.