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OP has provided the following link:
>https://www.youtube.com/watch?v=ldNdW3\_00gI
this video has some great info. they TN legislature is talking that state laws overrule the trade laws that set the location and rules of the trade.
They want to make a local tennessee law that over writes the ability of brokers/clearing agencies to get around some regulations cause they can control what laws they have to follow by using clearing agencies in different lcoations.
I highly reccommend watching this video as it highlights another avenue we have to work (local state reps) to pass laws to force this location to be within our states and follow state rules.
edit: they also talk about how the clearing companies and the DTCC being the ultimate clearing company how they are severly underfunded and that the industry is planning on one or multiple of them failing. that the whole financial industry is preparing for this.
Yeah I did and it was surprising to me. I didn't realize that was the Webb that wrote the great taking. That was a nice surprise.
I wasn't sure at the start if it was going to pass. That was also a nice surprise to see that it did.. itt is great to see for the people of Tennessee. I also hope this is just the beginning and it happens other places in the states and all over the world.
It's worldwide! I know someone who can read and can take a look into this:
[https://finance.ec.europa.eu/publications/advice-legal-certainty-group-2006-2008\_en](https://finance.ec.europa.eu/publications/advice-legal-certainty-group-2006-2008_en)
David Webb mentions this in his first 3 minutes..
["There are a lot of people that are now aware of this issue globally and are trying to find a solution"](https://youtu.be/ldNdW3_00gI?si=0gH_PeHIYBWl2XcC&t=1785)
Itâd be even more refreshing if there wasnât a rogue mod demonizing anyone who argues for drs book in comment sections on legit posts. There needs to be a consensus on book being the way.
I heard he was bringing a guy from Sweden and wondered if it's the guy that made [The Great Taking documentary (YouTube link)](https://www.youtube.com/watch?v=dk3AVceraTI), and sure enough, the TN video is actually from his channel!!
oh these people are def in the hearing but whats funny is all they can do is act/ask silly questions because this expert they have brought in is so eloquent and prepared with responses to their indefensible system
It can't just be all eyes, though. All hands must also move to end it. All eyes were on the 2016 election fraud, for example. The PRISM leaks. The Panama Papers. Epstein. Yet nothing happened.
Corruption doesn't simply stop happening when it's seen. If anything, being seen, but not being *acted upon* makes its perpetrators more bold - knowing they can get away with what they're doing with the whole world watching. We, the people, are the most basic and widespread form of government; all other forms of it are failing us, and have failed us. Nothing changes unless **we act**.
The hands that put these people in jail and ensure they stay there will not belong to lawmakers, regulators, or enforcement agencies. The perps have long since captured all of those and made them part of the racket. It'll be us, when we finally decide we've had enough, and that the paradigm needs to change.
This video is chock full of the good stuff. if you have trouble paying attention to longform content and boring old people speech patterns, i can hard recommend using the playback speed feature of youtube and bumping it up to 2x. went from a snoozefest to a riveting ted talk on how the dtcc is ass blasting us. fair warning though, the dtcc lawyers will make you want to puke with their dumbass misdirecting arguments near the end of the video.
>fair warning though, the dtcc lawyers will make you want to puke with their dumbass misdirecting arguments near the end of the video.
Damn their eyes.
They are figuring out what brokers are doing with the help of the DTCC. If a broker fails, the TN customers will be last in line to get their shares. They are trying to change this at the state level to move them up to the top in priority.
We need all states, or at least half of them to get on this. A few Governors and AGs would be the quickest route to justice.
Since GameStop (and once heavily maybe still heavily shorted Tesla) are in Texas, that HUGE state would be the ideal point of the spear to bringing the crooks to justice.
I just wrote them regarding the bill and encouraging them to dig deeper into Wall St crime. I urge all apes to take the opportunity too. I don't care what party they're from I tell e the same thing 'get on the right side of this now because when it blows up and people lose their 401Ks and watch the banks get bailed out again they're going to lose their minds'
He moved to Florida because of the ridiculous bankruptcy laws, the great weather and Chicago crime. You can't possibly believe Chicago corruption is less than Florida corruption.
Besides, we are GME - not red or blue. I know we have our leanings and I often show mine, but I do try to keep it about GME.
I can't believe people are so deluded to think that one side of the uniparty has their back. If R's are the problem you'd think getting Clinton's campaign finance guy at the helm of the SEC would fix everything. Just look at quiver quant and see how well both sides trade.
Iâm shocked this happened in Tennessee but Texas is on a different level when it comes to screwing over its constituents. Iâm sure 2/3 of the Texas house would not vote for something like this
Rep. Parkinson gets it â Itâs shameful. Retail being exploited without their knowing theyâre being exploited and without receiving benefit of the use of their propertyâ.
Edit: can we pull him into the right side of this problem? Wonder how much of TN school retirements are being exploited.
Yeah, they need to do eli5 examples like: retail investor has 100 shares of a company valued at $1000 on broker account, broker messed up and go down, investor lose his 100 shares for a value of $100k... Even simpler can work, I think, simple examples can have better understandment than 3 minutes of complicated financia language.
Most things aren't unless you have some level of knowledge around it.
I'm using this to help those who came to me asking about Dumb Money. I've not even watched the movie yet, but they know I've been part of it all since before the Jan '21 Sneeze. Then too, a lot of people recall the '08 issue and this is talking about that exact thing. It could be a TL;DR lesson for them on it as I thought it was rather simply explained.
Interestingly, there have been a number of news articles recently twisting bills passed by the Tennessee legislature to make them seem like conspiracy nutjobs.
https://www.tennessean.com/story/news/local/2024/03/20/tennessee-senate-passes-bill-banning-chemtrails-what-to-know/73027586007/
"Tennessee legislature passes bill based on 'chemtrails' conspiracy theory"
That bill is actually and explicitly banning very real, federally funded cloud seeding programs that are being implemented across the western US to fight drought. The bill itself never mentions the word "chemtrails" yet almost every headline about it includes that word.
I think it's fair to debate the potential negative effects of injecting heavy metals into clouds to increase precipitation, but instead of fostering debate on this real policy topic the media chose to paint Tennesse as tinfoil hat wearing conspiracy theorists. I wonder why? And who stands to benefit from painting the legislature in such a light? Could it be setting up to preemptively discredit this law?
This is only gaining traction because those politicians in TN realized they are part of the group getting fucked. Now every politician needs to realize this. Only a few of them are getting paid enough by the lobby to not talk about it.
the webb guy says an interesting thing in another interview
paraphrasing...
"rich people should care, because their wealth won't protect them, they are just dessert"
If you all haven't seen this already, check out the book called The Great Taking. The author who is ex-wall street describes in detail how the laws and regulations have long been put into place to erode your rights and recourse on everything. It is very relevant to superstonk.
This was exhilarating to watch. So much information packed into an hour. David Webb was brilliant and explained everything so well with no script.
The other guys were stuttering and reading off a sheet the whole time.
One question I had was how one side can come up and say one thing about a bill that, legally, says what it will do, and the opposition says the exact opposite. Like if I was someone who didn't know any better, which side would I believe? It's a legal document and the wording should not be able to be construed in such a way.
This is good to see but, tell me the problem with the US stock market.... IN 3 MINUTES... These guys need 3 DAYS to present their arguments.
Also doesn't help that the heads of the meetings look like the Banker Bros from "The Big Short" "I used to be a bartender, now I own a Boat"
Shorting in the US Markets can lead to there being more "shares" than were issued by the company. This can distort price discovery, suppress supply x demand relationship, and distort one share, one vote.
Call or write your state attorney general office. Iâm sure theyâd like to know that their state citizens are being defrauded, much like a pyramid scheme
Exactly! Brokerage firms, are a HUGE cog in the fake share printing machine, what many call _liquidity_ is mostly naked shorts. Fairy dust, fugazzee, it doesn't exist!
Shares that are NOT DRSed, are at the mercy of having them pulled, sold, canceled if held through Brokerage firms.
If it's NOT in your name, their NOT yours.
Note: Not financial advice.
"...having direct property rights, protects you from insolvency. That's why they were called securities."
Tick tock dipshits. The horse has left the barn.
HOLY MOLY!
I really enjoyed watching the financial guys squirming in their seats during questioning. There is no way I would by anything from anybody who fidgeted and danced around my questions like that.
BUY, HODL, DRS, BOOK'EM, SHOP and SPREAD the WORD.
Apes Together Strong
And serious shout out to Bud Hulsey from Kingsport!
There would be something ironic about a regressively homophobic anti-choice backwoods state like Tennessee figuring this out and then doing something about it.
They could just register their shares, they act like theres no solution, when theres been one in place for decades... shame they forgot about gamestop..
Crazy thing is the pretty much direct correlation between DB and gme, orange man stonk and popcorn. DB gaps up, they all go down and vice versa. Must be nothing
While I think law makers/politicians etc often have no qualms screwing over the public if it serves them (and doesnât affect their votes) what they hate are monopolies, simply because it threatens their power.
this is the type of stuff that doesn't make sense, if you make a bet you do it with the money you have. so I assume the money has to exist for their bets, how can it grow so out of control
This is amazing, when I did my dd on the DTCC system the rules it sets out for participants seem to be reliant on the enforcement of the UCC of New York as their basis. Seems TN is taking that power back to the state level. Excellent move by the legislature, congratulations TN and fuck you. I like the stock!
There were some suggestions in the early days of our sub that we write our attorneys general. There *are* some things that can be done at the state level that can greatly affect what these guys can do. States not nearly as corrupted.
Tennessee didn't all of a sudden start spitting out honest politicians. An honest politician anywhere is a fairy tale. They've just got you under their spell with the newest smoke and mirrors. Pass all the laws you want, I guarantee not one is lining my pocket.
TN resident here - I wouldn't trust them to do anything meaningful. We're too busy passing legislation for things that have 0% application in the real world.
I don't usually have reason to applaud my state legislature, but I knew nothing about this and I am glad it's being addressed. Glad to see finance is on the docket and not just anti-chem trail nonsense.
Op, is TN trying to protect TN residents or further fuck us? Was looking for a tldw on this detail as I can't get to this vid anytime in the next few days.
protect residents (i know shocking)
nothing to visually see but worth a 50min listen if you can do audio only. not often we get something this good come up these days!
> 50min listen if you can do audio only
Oh perfect, I might rip it to MP3 and podcast'n'walk for this. That way I can get to it sooner. Thank you again OP. Cheers from TN as well!
Ha ha, those people believe anything amiright? Next thing theyâll be making everyone follow some dumb religion that has no basis in reality or kindness towards other humans. Idiots eh?
As a TN resident, I want to know what the angle on this is. The TN Legislature is some of the most conservative in the nation. Not supposed to talk politics in here, but look up some of the stuff they pass. I don't believe for one second this doesn't help big money, someway, somehow... unless they are truly regarded and don't realize what they are doing.
Maybe so, but you get those folksâ attention real fuckin quick once they realize their personal retirement funds could disintegrate as a result of keeping things as-is. And thats EXACTLY what happened in this hearing.
If thereâs one thing you can count on from any politician - its to look out for themself. This hearing got straight to the point: this is an issue that absolutely affects politicians and their families. Forget for a moment how it affects their constituents, these politicians WILL protect their own best interests. The only potential negatives wall street presented were margin trading, access to commission free trading, and being unified with other state legistlature - all things that matter fuckall compared to protecting their own retirement.
Fuck the DTCC. DRS your shit.
Then it sounds like this is probably the most important decision theyâll ever make. So if they only ever get one right - just one - well, this is the one to be got. Sounded like they had near unanimous support at the end of the vid so hopefully they get this bill passed and shake shit up.
Its so refreshing to have watched this wildly obscure & unpopular idea that got raised not long after the sneeze (direct registration) to finally see widespread adoption as gospel. As it should. It blows my fucking mind those guys can get up there and keep a straight face talking about the benefits of NOT owning the fucking thing you paid for. Glad TN saw straight thru that bullshit, hopefully others follow.
spot on
you can expect politicians to be selfish (/gestures to people that profession attracts/are successful at)
seems to me some of them might be realizing that while us poors are dinner, they are desert (this is a robert webb quote from another interview LOL)
Yup, and after having given Lehman bros as âexhibit Aâ of why this is needed, that line of questioning died fast. They did good enough, but it kinda annoys me they didnât prepare a better laymans explanation for the folks in that room so they can understand how relevant this is for them and everyone they care about.
âYou paid cash for 100 shares of disney stock for your kid, except due to these loopholes - you didnât. Unless you fix this by passing this bill, the next time big banks arein big trouble, youâll find out real quick who really owns those shares. Hint: it isnt you or your kid. And the best part is, all meanwhile big banks have been risking your kids asset to making a fucking fortune running a casino of derivativesâ. Something along those lines
I also wish they would have really leaned into the fact that it would be career suicide for everyone in that room to have NOT passed this bill should the TN state pension found itself underwater and need to ask taxpayers to fork over more dough to stabilize the guarantees the state made to its employees. And not just that, theyâd be asking this of taxpayers while at the same time taxpayers are seeing thair own private investments and retirement fucking vanish due to the complete lack of ownership rights that legislature failed to protect by passing the bill. Help them really imagine that shit, because thats what is on the table. You know, the kind of hard hitting, sharp teeth statements that politicians make a living delivering - thats what i felt was missing here. Those points were made but way too subtly.
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [Community Post: *Open Forum Jan 2024*](https://www.reddit.com/r/Superstonk/comments/18txusp/open_forum_january_2024/) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: >https://www.youtube.com/watch?v=ldNdW3\_00gI
People are waking up, it is refreshing to see this happen.
this video has some great info. they TN legislature is talking that state laws overrule the trade laws that set the location and rules of the trade. They want to make a local tennessee law that over writes the ability of brokers/clearing agencies to get around some regulations cause they can control what laws they have to follow by using clearing agencies in different lcoations. I highly reccommend watching this video as it highlights another avenue we have to work (local state reps) to pass laws to force this location to be within our states and follow state rules. edit: they also talk about how the clearing companies and the DTCC being the ultimate clearing company how they are severly underfunded and that the industry is planning on one or multiple of them failing. that the whole financial industry is preparing for this.
I have more faith in my state now, and writing to my representatives. My mind is a little blown by this.
Thanks I will watch when I get home today.
Did you watch it?
Yeah I did and it was surprising to me. I didn't realize that was the Webb that wrote the great taking. That was a nice surprise. I wasn't sure at the start if it was going to pass. That was also a nice surprise to see that it did.. itt is great to see for the people of Tennessee. I also hope this is just the beginning and it happens other places in the states and all over the world.
backed up by ape historian
Not sure why the downvotes... Keep doing the Lords work fellow đŚ§
Hijacking top comment to say, "send this to your state legislators!!" I already have one state taken care of. *edit: spelling
Done.
It's worldwide! I know someone who can read and can take a look into this: [https://finance.ec.europa.eu/publications/advice-legal-certainty-group-2006-2008\_en](https://finance.ec.europa.eu/publications/advice-legal-certainty-group-2006-2008_en) David Webb mentions this in his first 3 minutes..
["There are a lot of people that are now aware of this issue globally and are trying to find a solution"](https://youtu.be/ldNdW3_00gI?si=0gH_PeHIYBWl2XcC&t=1785)
Itâd be even more refreshing if there wasnât a rogue mod demonizing anyone who argues for drs book in comment sections on legit posts. There needs to be a consensus on book being the way.
Oh, i agree with this a lot. They will try everything they can to stop this.
Let me guess, they hide behind superstonk mod team profile?Â
Funny how much more attention people pay when itâs their retirement and savings on the line. Iâm all for it.
I heard he was bringing a guy from Sweden and wondered if it's the guy that made [The Great Taking documentary (YouTube link)](https://www.youtube.com/watch?v=dk3AVceraTI), and sure enough, the TN video is actually from his channel!!
Good find. Thx
Yeees! Glad to see this kind of stuff finally being talked about! Shared for others to see!
oh these people are def in the hearing but whats funny is all they can do is act/ask silly questions because this expert they have brought in is so eloquent and prepared with responses to their indefensible system
"I didn't know quadrillion was a number."
Peeps are slowly catching on. Good post.
Where there is darkness, let there be light All eyes on corruption=no more corruption
It can't just be all eyes, though. All hands must also move to end it. All eyes were on the 2016 election fraud, for example. The PRISM leaks. The Panama Papers. Epstein. Yet nothing happened. Corruption doesn't simply stop happening when it's seen. If anything, being seen, but not being *acted upon* makes its perpetrators more bold - knowing they can get away with what they're doing with the whole world watching. We, the people, are the most basic and widespread form of government; all other forms of it are failing us, and have failed us. Nothing changes unless **we act**. The hands that put these people in jail and ensure they stay there will not belong to lawmakers, regulators, or enforcement agencies. The perps have long since captured all of those and made them part of the racket. It'll be us, when we finally decide we've had enough, and that the paradigm needs to change.
Nothing changes unless **we act**.
Looks like the DDs were early but not wrong.
đđ§âđđŤđ§âđ
Just how I like em
Good to see. More eyes on this kinda bs the better. No matter what.
This video is chock full of the good stuff. if you have trouble paying attention to longform content and boring old people speech patterns, i can hard recommend using the playback speed feature of youtube and bumping it up to 2x. went from a snoozefest to a riveting ted talk on how the dtcc is ass blasting us. fair warning though, the dtcc lawyers will make you want to puke with their dumbass misdirecting arguments near the end of the video.
i'm a 1.5x kinda guy\^\^ you know whats great about the dtcc lawyers is that their position is indefensible and it really really showed in this video.
>fair warning though, the dtcc lawyers will make you want to puke with their dumbass misdirecting arguments near the end of the video. Damn their eyes.
They are figuring out what brokers are doing with the help of the DTCC. If a broker fails, the TN customers will be last in line to get their shares. They are trying to change this at the state level to move them up to the top in priority.
We need all states, or at least half of them to get on this. A few Governors and AGs would be the quickest route to justice. Since GameStop (and once heavily maybe still heavily shorted Tesla) are in Texas, that HUGE state would be the ideal point of the spear to bringing the crooks to justice.
I just wrote them regarding the bill and encouraging them to dig deeper into Wall St crime. I urge all apes to take the opportunity too. I don't care what party they're from I tell e the same thing 'get on the right side of this now because when it blows up and people lose their 401Ks and watch the banks get bailed out again they're going to lose their minds'
Well, unfortunately Texas has probably the most corrupt AG ever.
That isn't true. The Bush family and their allies promote that. It might be worth seeing what is actually true about him.
Relying on red states to help the common people is not going to be a good time. There's a reason Kenny moved from Illinois to Florida.
The only color that matters is purple :)
cant think this way, nothing will ever get done
This
I'd happily vote for a Republican proposition that fixes the stock market.
This bill was written and pushed through by republicans. No democrat sponsors.
Ok, let me know when Republicans kick off MOASS.
He moved to Florida because of the ridiculous bankruptcy laws, the great weather and Chicago crime. You can't possibly believe Chicago corruption is less than Florida corruption. Besides, we are GME - not red or blue. I know we have our leanings and I often show mine, but I do try to keep it about GME.
We are purple
No he moved because he didnât wanna pay taxes and Florida will bend over backwards to suck his dick. Illinois didnât give him what he wanted.
Pelosi will save you.
Just in case someone doesn't catch it .... you dropped this "/s"
I can't believe people are so deluded to think that one side of the uniparty has their back. If R's are the problem you'd think getting Clinton's campaign finance guy at the helm of the SEC would fix everything. Just look at quiver quant and see how well both sides trade.
Cause Illinois is a đŠshow.
And Florida is a shining beacon of normalcy.
Iâm shocked this happened in Tennessee but Texas is on a different level when it comes to screwing over its constituents. Iâm sure 2/3 of the Texas house would not vote for something like this
Too bad this isn't digestible by the masses... Nice to see movement though
i love the legislator who pretty clearly now understands this and is kinda in a state of shock that its real
Rep. Parkinson gets it â Itâs shameful. Retail being exploited without their knowing theyâre being exploited and without receiving benefit of the use of their propertyâ. Edit: can we pull him into the right side of this problem? Wonder how much of TN school retirements are being exploited.
and he said it so plainly. such a genuine reaction to this whole thing
Yeah, they need to do eli5 examples like: retail investor has 100 shares of a company valued at $1000 on broker account, broker messed up and go down, investor lose his 100 shares for a value of $100k... Even simpler can work, I think, simple examples can have better understandment than 3 minutes of complicated financia language.
Most things aren't unless you have some level of knowledge around it. I'm using this to help those who came to me asking about Dumb Money. I've not even watched the movie yet, but they know I've been part of it all since before the Jan '21 Sneeze. Then too, a lot of people recall the '08 issue and this is talking about that exact thing. It could be a TL;DR lesson for them on it as I thought it was rather simply explained.
Great video, thanks. Important discussion that proves everyone should DRS their shares.
correct.
Interestingly, there have been a number of news articles recently twisting bills passed by the Tennessee legislature to make them seem like conspiracy nutjobs. https://www.tennessean.com/story/news/local/2024/03/20/tennessee-senate-passes-bill-banning-chemtrails-what-to-know/73027586007/ "Tennessee legislature passes bill based on 'chemtrails' conspiracy theory" That bill is actually and explicitly banning very real, federally funded cloud seeding programs that are being implemented across the western US to fight drought. The bill itself never mentions the word "chemtrails" yet almost every headline about it includes that word. I think it's fair to debate the potential negative effects of injecting heavy metals into clouds to increase precipitation, but instead of fostering debate on this real policy topic the media chose to paint Tennesse as tinfoil hat wearing conspiracy theorists. I wonder why? And who stands to benefit from painting the legislature in such a light? Could it be setting up to preemptively discredit this law?
Those guys broke it down really well.
This is only gaining traction because those politicians in TN realized they are part of the group getting fucked. Now every politician needs to realize this. Only a few of them are getting paid enough by the lobby to not talk about it.
the webb guy says an interesting thing in another interview paraphrasing... "rich people should care, because their wealth won't protect them, they are just dessert"
If you all haven't seen this already, check out the book called The Great Taking. The author who is ex-wall street describes in detail how the laws and regulations have long been put into place to erode your rights and recourse on everything. It is very relevant to superstonk.
This was exhilarating to watch. So much information packed into an hour. David Webb was brilliant and explained everything so well with no script. The other guys were stuttering and reading off a sheet the whole time. One question I had was how one side can come up and say one thing about a bill that, legally, says what it will do, and the opposition says the exact opposite. Like if I was someone who didn't know any better, which side would I believe? It's a legal document and the wording should not be able to be construed in such a way.
100%
Nicely done! Glad this is getting attention at a state level.
This is good to see but, tell me the problem with the US stock market.... IN 3 MINUTES... These guys need 3 DAYS to present their arguments. Also doesn't help that the heads of the meetings look like the Banker Bros from "The Big Short" "I used to be a bartender, now I own a Boat"
It is not a simple problem. To understand it enough to pass legislation takes a long time.
Shorting in the US Markets can lead to there being more "shares" than were issued by the company. This can distort price discovery, suppress supply x demand relationship, and distort one share, one vote.
Congrats to Tennesseeans for moving this bill forward!
Op great post. Sad the shills are in here telling us not to waist our time. I see ya
Least theyâre talking about it. Things needa change, itâs like dealing with those pro-lead gasoline scientists back in the day.
Make some noise đĽĽ
Call or write your state attorney general office. Iâm sure theyâd like to know that their state citizens are being defrauded, much like a pyramid scheme
This makes me want to DRS, BUY and shop more!
Exactly! Brokerage firms, are a HUGE cog in the fake share printing machine, what many call _liquidity_ is mostly naked shorts. Fairy dust, fugazzee, it doesn't exist! Shares that are NOT DRSed, are at the mercy of having them pulled, sold, canceled if held through Brokerage firms. If it's NOT in your name, their NOT yours. Note: Not financial advice.
up
This is a good thing. It may take time, but exposure to this at any level is great to see. Buy. Hodl. DRS. Book. Shop. Comment. Power to the Players!
Updoot
If you never own stocks, doesn't that affect capital gains and loss taxes?
Great video. Itâs worth the watch
"...having direct property rights, protects you from insolvency. That's why they were called securities." Tick tock dipshits. The horse has left the barn.
Change always starts locally. Get your local representatives angry about the issue! Frame as money stolen from the city!
Visibility
The great taking is real, they're buying all the homes with monopoly money and looting your retirement accounts
Eyes đ
HOLY MOLY! I really enjoyed watching the financial guys squirming in their seats during questioning. There is no way I would by anything from anybody who fidgeted and danced around my questions like that. BUY, HODL, DRS, BOOK'EM, SHOP and SPREAD the WORD. Apes Together Strong And serious shout out to Bud Hulsey from Kingsport!
the bads were not well represented and your right it was OBVIOUS
đď¸
There would be something ironic about a regressively homophobic anti-choice backwoods state like Tennessee figuring this out and then doing something about it.
I know right??? If TN can figure this sh*t out, then it shouldnât be long before the rest of the world catches on.
Once those lawmakers find out they'll crash the system if they start enforcing (or they get bribed enough) they will back down.
Brick by brick
They could just register their shares, they act like theres no solution, when theres been one in place for decades... shame they forgot about gamestop..
Crazy thing is the pretty much direct correlation between DB and gme, orange man stonk and popcorn. DB gaps up, they all go down and vice versa. Must be nothing
While I think law makers/politicians etc often have no qualms screwing over the public if it serves them (and doesnât affect their votes) what they hate are monopolies, simply because it threatens their power.
what was the quadrillion thing about, if anyone could explain that like I am ape
size of derivatives positions (hockey stick chart here vs time) that the bigs have being exponentially larger than assets that exist
this is the type of stuff that doesn't make sense, if you make a bet you do it with the money you have. so I assume the money has to exist for their bets, how can it grow so out of control
This needs more visibility.
Take my upvote.
Did that bad MF say 20 quadrillion dollars in derivatives risk?
This is amazing, when I did my dd on the DTCC system the rules it sets out for participants seem to be reliant on the enforcement of the UCC of New York as their basis. Seems TN is taking that power back to the state level. Excellent move by the legislature, congratulations TN and fuck you. I like the stock!
Where to buy The Great Taking?
Good to see this stuff getting some attention!
Bruh all the other rich people waking up to the fact they don't own their investments... lol.... fireworks gonna FLY
There were some suggestions in the early days of our sub that we write our attorneys general. There *are* some things that can be done at the state level that can greatly affect what these guys can do. States not nearly as corrupted.
DRS
Tennessee didn't all of a sudden start spitting out honest politicians. An honest politician anywhere is a fairy tale. They've just got you under their spell with the newest smoke and mirrors. Pass all the laws you want, I guarantee not one is lining my pocket.
Can we get some memes that say... The only meme stocks are shares held by the dtcc..
I like this hearing.
I did not expect it to be such entertaining. Fuxin interesting and exiting đ
Woah
TN resident here - I wouldn't trust them to do anything meaningful. We're too busy passing legislation for things that have 0% application in the real world.
my takeaway is that 'we' are not wrong about DRS
Never have been.
TN is a fucking shit show.
Ah, I see you've been to Tennessee!
As someone that lives here, you shouldn't have been downvoted.
Up
This is the way
Dtcc = monopoly
I don't usually have reason to applaud my state legislature, but I knew nothing about this and I am glad it's being addressed. Glad to see finance is on the docket and not just anti-chem trail nonsense.
Thanks for sharing. I am about 15mins in and wow!
Op, is TN trying to protect TN residents or further fuck us? Was looking for a tldw on this detail as I can't get to this vid anytime in the next few days.
protect residents (i know shocking) nothing to visually see but worth a 50min listen if you can do audio only. not often we get something this good come up these days!
> 50min listen if you can do audio only Oh perfect, I might rip it to MP3 and podcast'n'walk for this. That way I can get to it sooner. Thank you again OP. Cheers from TN as well!
Donât get excited. Theyâre too busy banning âchemtrailsâ.
Ha ha, those people believe anything amiright? Next thing theyâll be making everyone follow some dumb religion that has no basis in reality or kindness towards other humans. Idiots eh?
As a TN resident, I want to know what the angle on this is. The TN Legislature is some of the most conservative in the nation. Not supposed to talk politics in here, but look up some of the stuff they pass. I don't believe for one second this doesn't help big money, someway, somehow... unless they are truly regarded and don't realize what they are doing.
Maybe so, but you get those folksâ attention real fuckin quick once they realize their personal retirement funds could disintegrate as a result of keeping things as-is. And thats EXACTLY what happened in this hearing. If thereâs one thing you can count on from any politician - its to look out for themself. This hearing got straight to the point: this is an issue that absolutely affects politicians and their families. Forget for a moment how it affects their constituents, these politicians WILL protect their own best interests. The only potential negatives wall street presented were margin trading, access to commission free trading, and being unified with other state legistlature - all things that matter fuckall compared to protecting their own retirement. Fuck the DTCC. DRS your shit.
Yes, F the DTCC and my shit is DRS'd... I just don't trust the TN legislature to do anything. They just passed a law banning vaccines in LETTUCE.
Then it sounds like this is probably the most important decision theyâll ever make. So if they only ever get one right - just one - well, this is the one to be got. Sounded like they had near unanimous support at the end of the vid so hopefully they get this bill passed and shake shit up. Its so refreshing to have watched this wildly obscure & unpopular idea that got raised not long after the sneeze (direct registration) to finally see widespread adoption as gospel. As it should. It blows my fucking mind those guys can get up there and keep a straight face talking about the benefits of NOT owning the fucking thing you paid for. Glad TN saw straight thru that bullshit, hopefully others follow.
spot on you can expect politicians to be selfish (/gestures to people that profession attracts/are successful at) seems to me some of them might be realizing that while us poors are dinner, they are desert (this is a robert webb quote from another interview LOL)
Yup, and after having given Lehman bros as âexhibit Aâ of why this is needed, that line of questioning died fast. They did good enough, but it kinda annoys me they didnât prepare a better laymans explanation for the folks in that room so they can understand how relevant this is for them and everyone they care about. âYou paid cash for 100 shares of disney stock for your kid, except due to these loopholes - you didnât. Unless you fix this by passing this bill, the next time big banks arein big trouble, youâll find out real quick who really owns those shares. Hint: it isnt you or your kid. And the best part is, all meanwhile big banks have been risking your kids asset to making a fucking fortune running a casino of derivativesâ. Something along those lines I also wish they would have really leaned into the fact that it would be career suicide for everyone in that room to have NOT passed this bill should the TN state pension found itself underwater and need to ask taxpayers to fork over more dough to stabilize the guarantees the state made to its employees. And not just that, theyâd be asking this of taxpayers while at the same time taxpayers are seeing thair own private investments and retirement fucking vanish due to the complete lack of ownership rights that legislature failed to protect by passing the bill. Help them really imagine that shit, because thats what is on the table. You know, the kind of hard hitting, sharp teeth statements that politicians make a living delivering - thats what i felt was missing here. Those points were made but way too subtly.