During and after the financial crisis of 2007–2008, countless families lost everything, including their homes, savings, even the people who loved them or whom they loved. Greedy institutions ate the money, but the innocent people paid for them, even those who not in the markets.
Nowadays, on April 21, 2020, before people waking up, the oil price, the futures prices for Crude Oil WTI exactly, downed to $-37.63 a barrel. Simultaneously, in China, the customers of BOC’s Yuanyoubao product lost everything, just like Americans twelve years ago.
How Wall Street’s “elites” ate the money, once again
I mean, once again and again.
It’s clear that everyone has suffered a lot from COVID-19, but I don’t think the Coronavirus’s impact should include the negative oil price. The oil price was a complete scam made by Wall Streeters. They played everyone for a sucker. CME announced the new rule that allows negative price, and a few days later, this event happened. A few months later, they quietly changed the rule back, which doesn’t allow negative price.
Recently, r/wallstreetbets did a big thing. They kept buying stocks and pushed the price to $347.51. Soon, several brokerages limited the trade. Customers could no longer open new positions in the stock, although they could still close them. In other words, customers could only sell the stocks but couldn’t buy them. Some customers alleged that Robinhood sold their shares without consent. Robinhood denied these allegations. Do you believe Robinhood? Before limiting trade, they also banned traders' communication platforms like Discord and Reddit for a while. Discord said the restriction is on hate speech. Do you believe Discord? Angry users review-bombed the Robinhood app on Google Play, but Google deleted at least 100k such reviews, calling them “coordinated or inorganic”. Do you believe Google? Do you believe capitalists and business companies?
Everyone has to follow the rules whenever Wall Streeters can get money, but they will make new rules if they cannot. They are both the players and rulers of markets.
Behind these events
The essence of Wall Streeters was revealed. As long as they are breathing, they are trying to eat everyone’s money by whatever methods. Why are 65 percents of Americans against saving banks and other companies by giving away $700 billion? They knew bankers stole everything, but the government was even trying to save them like socialist countries' governments when they were broken.
People are protesting, but some people even “professionally” interpreted the negative oil price for bad luck, for COVID-19, and so on. They listed many reasons to show that it’s normal for the oil price to be negative, but why the price became over zero quickly? If the storage cost much, the price should be long-term under zero. Are they paid posters? I will never know.
We should learn from these, do not think you are always right. As Mark Twain said, “It’s ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” There ain’t no such thing as a free lunch. Institutions make countless profits every year. Do you think you are smarter than them? Be sane and wise. Thoroughly consider the risk and your affordability before entering the markets and always have a Plan B.
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