Social Credit Score, Universal Basic Income & Gamestop
As part of the Xi Jinping government’s larger goal to make China a world leader in Artifical Intelligence and Big Data by 2030, the state is now working towards bringing its 1.4 billion-strong population within the purview of a system that can monitor the behaviour of its population in real-time — and also rank them based on social credit.
Called ‘the social credit system’, the idea was first announced in 2014 and subsequently rolled out as a pilot project in some districts of China to reinforce the idea that “keeping trust is glorious and breaking trust is disgraceful,” according to a government document.
The mandatory state scheme, which is already live for millions of Chinese residents, is being run in partnership between civic bodies and private tech firms, such as Huawei, China Mobile and Alibaba, who are providing the needed logistical support in the form of hardware and, more crucially, troves of personal data required by the social credit system.
An example of the Social Credit System can be compared to the Black Mirror episode ‘Nosedive’. The basis of lifestyle is based on a rating every person has. For example, higher ratings get you to live in prominent areas, and poor ratings will make key decisions in what car you will be able to rent or even booking flights. Also, everyday actions can also affect your rating such as appearing to talk to someone to someone who is frowned upon.
The episode did seem a bit extreme but who is to not assume this will happen in the near future. At the moment (in China) the social credit score affects mostly lending capacity from major banks via if you are on top of your repayments, however China have slowly rolled out new examples of possible ways to lose points in everyday social surroundings (Refer to: https://en.wikipedia.org/wiki/Social_Credit_System#Examples_of_policies) from little things such as littering, jaywalking or even not having a leash on your dog.
In other words, the Social Credit System in China isn’t merely a punishment for criticizing the state as is the case in most totalitarian regimes, the Social Credit System can bring the hammer down for even the slightest infraction and seems to be a benchmark by many governing leaders and globalists worldwide.
It doesn’t stop at a social credit score, once this gets allowed in, it gives the excuse to usher in the cashless society, which the ushers in the universal basic income. Universal basic income is a government program in which every adult citizen receives a set amount of money on a regular basis. The goals of a basic income system are to alleviate poverty and replace other need-based social programs that potentially require greater bureaucratic involvement.The idea of universal basic income has gained momentum in the U.S. as automation increasingly replaces workers in manufacturing and other sectors of the economy.
Spain introduced minimum basic income in response to COVID-19 in May 2020 “to fight a spike in poverty due to the coronavirus pandemic”. “The scheme aims to guarantee an income of 462 euros ($546) per month for an adult living alone, while for families, there would be an additional 139 euros per person, whether adult or child, up to a monthly maximum of 1,015 euros per home. It is expected to cost state coffers three billion euros ($3.5 billion) a year.
Pope Francis is pushing UBI in a post-Wuhan pandemic world as the means to a more equitable economy. “I believe it is time to explore concepts like the universal basic income (UBI), also known as ‘the negative income tax’: an unconditional flat payment to all citizens, which could be dispersed through the tax system,” Francis asserts.
Francis urges governments to hand out “an unconditional lump-sum payment to all citizens, which could be paid through the tax system” while criticizing “the false assumption of the infamous trickle-down theory that a growing economy will make us all richer.” Universal basic income could reshape labor market relations by guaranteeing people the dignity to refuse employment conditions that lock them into poverty,” the pope insists.
Missouri Republican Sen. Josh Hawley wrote that in a Jan. 24 op-ed for the New York Post in which he highlighted the import by Americans leftists of the social credit score, “the latest corporate import from Communist China, where the government and big business monitor every citizen’s social views and statements.”
“Have you checked your social credit score lately? You might want to. Mine seems to have taken a nosedive this month. You might want to see how yours is doing,” wrote Hawley, who was targeted by the leftist mob after he objected to the counting of Pennsylvania’s electoral votes on Jan. 6.
In summary, the social credit score seems to be the benchmark for the future in finding a way to legally control the minorities and for totalitarianism. Especially in regards to China where it is known they have Christians and Muslims in slave camps, where now even being a ‘minority’ religion can affect your social credit score, therefore ostracising the minorities all in the name of Xi Jinping.
Gamestop goes from 4-5$ last year to a massive $400 something in the last few days, how does this happen?
(Gamestop is a retailer of video games / Kind of an undoubted model think Blockbuster of video games, a lot of people did not think this company would survive the current trend (more people buying games online). Hence the stock price gradually going down.)
This increase in stock price has been greatly attributed to an online forum/group on reddit that goes by the name of Wall Street Bets, now the media is going to make them out to be the bad guys, they have been portrayed as market manipulators “hackers” even, as their platform is an orgy of memes where they call each other by various slanderous words such as gay bears in an obviously joking manner making them an easy target. But the actual cause is due to the hedge fund investors and their greedy practice of “Short Selling”, now what is “Short Selling” to put it simply Stocks go up when more people want them and stocks go down when less people want them (company is doing worse or they’ve done something stupid.) For e.g. Supply & demand.
If you think a stock is going to go up you’ll buy it cause that means you’ll make money over time, say for e.g. you like Gamestop and you want to buy 100 shares at $1 each, you’ll have $100 worth of shares. Say the price of the share then goes up to $5 a share then you’ll have $500 worth of shares. If it does poorly and goes to 50c, then your shares will go down to $50. The worst case scenario when buying stock is if your investment goes to $0 value, then you lose your investment, but that’s it.
Now there’s another type of investment called short selling, now this is much more risky that a lot of institutional investors and large investors can partake in, so say a stock is valued at $10 and you think it’s going to crash and go down to $1, you will partake in what is known as short selling. This is where you will borrow the shares from someone, and the moment you borrow them you’ll sell them to someone else, so say you borrowed 10 shares at $10 and sold them as soon as you borrowed them for $10 to someone else, you’ll now have $100 in your account. Now you haven’t paid for the shares you borrowed yet you will do so at a later time, at this later time the price can either go up or down. Say the price goes down to $1 when your borrowed share payment is due, this means you’ll owe $10 since you borrowed 10 shares, meaning that you will profit the remaining $90 you made, however say the price goes up to $100 per share, you will owe $1000 meaning you will be at a loss of $900. This is where things get dangerous as the potential downside is infinite, the lowest a share will go is $0, but the upside is potentially infinite, meaning there is no cap on what a share’s potential price can be. The problem with short selling is that you don’t just lose your initial investment, cause there is no initial investment and the potential for loss when short selling is literally infinite. However to get margain you usually have to be an established investor, large hedge funds etc. You need to have enough money to cover your ass if shits goes to the moon. (The borrowing isn’t free, there is interest on the borrowed shares essentially, To open a short position, a trader must have a margin account and will usually have to pay interest on the value of the borrowed shares while the position is open.)
Hedge fund managers (Citadel & Melvin Capital) were shorting GameStop’s stock, meaning they were betting on Gamestop failing, the problem is they shorted over 100% of the available shares, so instead of saying I think Gamestop is going down, let me put a small bet on it, they decided to bet more than everything (how the fuck is this even possible), HFM got so greedy with shorting the stock they eventually got caught with their dick in the nanny.
Wallstreetbets didn’t rob the hedge fund managers, Wallstreetbets basically caught the HFM trying to steal and now they don’t want to pay the borrowed stocks back. It’s a rigged system due to the fact that shorting stock in turn makes stock prices go down as selling the borrowed stock causes price to go down which in turn can cause panic selling. Where Citron Research fucked up further is they successfully short sold the stock (took it from around $20 something to around $3) they doubled down on their “investment” and pummeled it down further and further to keep making a buck while fucking over / manipulating the company and legitimate investors. They got too greedy and a bunch of people figured this out. (It is fairly easy to find out how much % of the stock is “Short”, you can use multiple different websites to see this).
Looking at it logically if you stumble across this, you’ll see that the share price is fairly cheap, the short is over 100%. This will need to go up as they close their short and have to buy back stock in order to return their borrowed amount. This information was spread across Wallstreetbets causing many of its users to buy into the stock.
Now we have a situation where HFM need to close their short and buy the shares back to pay their debt however the diamond handed apes over at WSB aren’t willing to sell them which in return drives the price of GME on an upwards trajectory towards the moon.
Now the media is making it sound like these people from WSB robbed the institutional investors, that is not the case. They just bought shares and caught the Investors out in a greedy practice that should be illegal. Now the hedge funds are forced to cover their debt and are now playing the victim.
When the big wigs realised that the average person was making $ of this they decided to close methods communication (shutting down Discord servers and shutting down forums) as well as limiting and even stopping the buying of buying stocks (e.g. Robinhood) and even forcefully selling peoples positions (stocks) without their consent. They are still restricting people from buying stocks like AMC, BB, GME and potentially flipping the table on wall street.
This short seller just got a $2.75 billion bailout
Hedge funds have been plundering trillions for years, it’s only now when the layman who is not part of their club start making money they decide to kick up a storm and cry foul.
They are blocking retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit. Class action complaints are being filled out, we will see where this goes.
Google deleted over 100,000 negative reviews of RobinhoodApp
Apparently Robinhood was contacted by the whitehouse and pressured into shutting down GME buying
Leon Cooperman (NY hedge fund billionaire) rages at retail traders “It’s a way of attacking wealthy people.”