News for hackers. Stuff that matters.

A comment on It Feels Like the Game Is Rigged. Parent comment

Re:It Feels Like the Game Is Rigged by sigmaprimus on Monday February 01, 2021 @02:07AM (#25986348)
I am hoping that I will be on the right side of the pitch forks when it happens. I am building a farm, so when I said that I did nothing for a year that wasn't quite true, I should have said I didn't get a pay cheque for a year.

I do think You are right about the unfairness and expect the Occupy Wall Street and BLM protests will seem quaint if things keep going the way they are. I don't want to get political but am scared of what is comming now that everyone isn't distracted by the Orange man and are seeing how much wealth is being stolen from the masses.

[ Parent | on HN ]
Re:It Feels Like the Game Is Rigged by midasuni on Monday February 01, 2021 @02:23AM (#25986414)
There are things that could be done. Aregentina recently put in a tiny tax on the very wealthiest. That could be done by western governemts.

The problem is the coming crash will knock shares back down to 2017 levels, the biggest gamblers will be bailed out again, and media attempting to blame it on u/Diamond_6969 will either work (leading to backlash against technology) or fail (leading to backlash against big finance)

Unless the average person with no investments is bailed out it would be pretty. 2008 is till fresh in people’s minds.

Wiping out student debt might help, but I think at this stage people want to see the wealthy suffer, and don’t care if it causes pain for normal people either. It’s the situation that leads to revolutions - if you have nothing to lose, why not risk it all to force some empathy.

[ Parent | on HN ]
Re:It Feels Like the Game Is Rigged by imtringued on Monday February 01, 2021 @02:54AM (#25986532)
A simpler solution would be to just get inflation back on track through government investments in infrastructure.
[ Parent | on HN ]
Re:It Feels Like the Game Is Rigged by midasuni on Monday February 01, 2021 @02:57AM (#25986549)
Should have been doing that over the last decade instead of printing money into the stock market

I fear too little too late now.

[ Parent | on HN ]
Re:It Feels Like the Game Is Rigged by sigmaprimus on Monday February 01, 2021 @02:44AM (#25986500)
Off topic sort of but I'm pretty sure Silver is about to make the news. I have been hearing rumblings this weekend and it just moved up $2 in a few hours. If it breaks through 30 theres a good chance it could go on a ride. (Until it gets high enough for granny to sell off the heirlooms like silverware and tea sets etc. for rent)
[ Parent | on HN ]
Re:It Feels Like the Game Is Rigged by midasuni on Monday February 01, 2021 @02:56AM (#25986547)
General news has articles about how Reddit is saying silver is the next GME

I can’t find anything on wsb about silver, and the billboards are all about GME

Now sure silver may well be a better bet, GME is massively overvalued, silver may be a good bet, but “Reddit” isn’t talking about anything other than GME and maybe AMC, so where do these headlines come from?

https://www.bbc.co.uk/news/business-55882758

https://www.ft.com/content/d46e8623-09af-4a1f-b7e5-207616388...

The bbc seem to be quoting this post fro 3 days ago

https://www.reddit.com/r/wallstreetbets/comments/l71rdv/silv...

[ Parent | on HN ]
Re:It Feels Like the Game Is Rigged by sigmaprimus on Monday February 01, 2021 @03:08AM (#25986608)
I had the same thought, it very well could be the corporate media trying to influence retail investors not redit at all.

I bought my silver last spring (very little, just enough to buy a ride or bribe me and mine through a check point if TEOTWAWKI actually comes to be)

Edit

It doesn't really matter why it's happening, it's happening and it just broke 30 so I'm guessing were in for a show.

[ Parent | on HN ]
Re:It Feels Like the Game Is Rigged by wcoenen on Monday February 01, 2021 @03:30AM (#25986721)
Silver was already in the news before your comment.

https://youtu.be/DCkrf4ieAUE

[ Parent | on HN ]
Re:It Feels Like the Game Is Rigged by sigmaprimus on Monday February 01, 2021 @05:42AM (#25987496)
Yes it was. It momentarily showed a spot price of 30USD but then dropped below again. It has been in the news, that is what I was refering to as "rumblings".

I will predict though that if the US retailers selling physical bars and coins come into work this morning in about 3 hours and try to replenish their stocks that they sold online over this weekend they will drive prices past the $30 mental barrier and then the sky's the limit for how high it could be pumped. Then it will be all over the news just like GME.

Redit might not even be the cause, it could be Bidens plan to increase solar production, the Myanmar coup or a plethora of other things going on.

[ Parent | on HN ]
Re:It Feels Like the Game Is Rigged by sigmaprimus on Tuesday February 02, 2021 @01:15AM (#25997909)
I was wrong, I feel it is important to admit that as a decent human. I still feel my reasons for the prediction are valid but nevertheless, I was wrong :(
[ Parent | on HN ]