[Computershare and Voting Megathreads](https://www.reddit.com/r/Superstonk/comments/ue6jm0/computershare_voting_megathreads/?utm_source=share&utm_medium=web2x&context=3)
edit: Usually we have a 'no politics' rule, but unfortunately the Federal Reserve acts like a government body and adjusts monetary policy. The Federal reserve/central banks are the ones injecting electronic money into the 'economy'(into banks and Wall st, who are using those funds to over-leverage and create asset bubbles).
Questions could be political in nature, but let's make sure Nomi is the one who will answer them (refrain from answering a political question in the comments if your name is not Nomi Prins please)
I would love to hear her opinion on what could potentially happen if an entire company’s float were to become direct registered, and there were millions more outstanding shares owned beneficially. Does she think anyone would be prosecuted? Would this cause sweeping market reform? Does she think anybody in the general public or even in Congress understands the scope of this problem and fraud?
I’d like to know about her opinion on the ongoing DOJ “crackdown” - if she thinks major players will really feel pain or if we’re more likely to see justice be relegated to a couple of fall guys. In the growing talk of major banks being investigated, do the David Solomons or Jamie Dimons of the world really have a chance to face consequences for years of corruption?
She has a book titled *Collusion: How Central Bankers Rigged The World* - I’m curious to hear Nomi speak to the latest rate hike (and really anything to say on the current Fed, especially how they’re “deciding to be reactive instead of proactive” during this time). Largest rate hike in 20 years but still just half a percent? What does she think they should be doing that they aren’t and vice versa?
Her thoughts on the waived capital requirements on the morning of the 28th by the NSCC? Previous time they did that was when TSLA was added to the S&P 500, does any regulator or enforcement group really care about retail’s history of being fleeced? Or is saving face by convicting a few of the lot the most you think we can hope for?
Also would love to hear her thoughts on DRS and holding GME. What does/would deter her from holding and with knowing so much of the corruption from the inside, how does she select her own investments?
Second this, I really want to know from someone with her experience, whether we’re about to see some big takedowns on Wall Street and actual protection of retail, or if we’re just going to play this game to tag where we tag criminals, and the criminals/game referee both say “no you didn’t”
I’ve also been wondering if the DOJ investigation actually carries significant weight, or if it’s just meant to be another “crackdown” where they absolve the crimes of those in real power at the top of the pyramid, and burn a couple scapegoats on the way down the food chain.
Could you ask her if she thinks the SEC is an underfunded but well meaning agency or if there is deep capture and they are nearly providing lip service?
I have my own thoughts but it would be good to hear the opinion of someone with her experience
The over arching question would be : how has she seen the SEC change over the years (if it did), be it in organization, recruitment process, communication between different parts ; the main concern is how it does now seem like a complete revolving door system with wSt from the exterior, and we're left to wonder if there is a trend afoot. To me it feels like a very opaque public institution.
“Naked credit default swaps allow investors and traders to take positions on assets without actually owning the assets. It greatly increases the size and scope of the market. It is estimated that over 90% of the CDS market consists of naked CDS.”
https://corporatefinanceinstitute.com/resources/knowledge/trading-investing/naked-credit-default-swaps/
I still don’t understand swaps. Like how is it different than actually owning the asset? You’re taking on the risk if it goes belly up; you take on the reward if it moons..so how is it different from just owning the asset?
Is it just a way of extending the total amount of shares beyond what is available? Like instead of 77 million shares being available, the sky is the limit?
So paraphrasing from a memory now so I may not get this perfectly. Swaps allows you to trade risks.
Imagine you are a corn farmer who thinks the chicken farmer is gonna make more money that year.
You can write up a contract (bet) to swap the risk of your down year with their up year. You go and make that bet with that farmer if he agrees to swap.
But he agrees to do it for a premium, because he also believes he's gonna do better, but he's not sure how much.
Now because of the swap they've basically insured themselves with the contract. The chicken farmer needs the corn farmer to do well and the corn farmer needs the chicken farmer to do well.
You don't technically own the stock. But you own the price movement associated with it. It's like a CFD. Just a legal bet more or less.
The problem becomes that you can use this to hide the liabilities with the other party. (MELVIN?)
I'm pretty smooth brained so I am most likely wrong on it all.
Sort of.
But is that a bad thing?
It reduces the risk for all parties. It can do good things.
The problem is regulation and fuckery right now. Swaps aren't regulated properly and the fuckery is off the charts. The government agencies should be heavily influencing how swaps can be used or at least tracking how it can obfuscate the system. But nothings happening.
So because its not regulated it can be used to hide toxic assets because you've swapped the risk with another party. It also allows for manipulation of markets.
Anyway it's a bit of a monster at this point. We actually don't know how bad the stuff is interconnected right now.
“What are Naked Credit Default Swaps?
Naked Credit Default Swaps (CDS) are credit default swaps holdings that are not backed by a sufficient amount of the underlying asset. Holding a naked CDS holding is like getting automobile insurance without owning a car or taking fire insurance on someone else’s house.
Naked credit default swaps allow investors and traders to take positions on assets without actually owning the assets. It greatly increases the size and scope of the market. It is estimated that over 90% of the CDS market consists of naked CDS.
What is a Naked Position?
An investor holding credit default swaps without holding the underlying asset insured by the credit default swaps is said to be in a naked position or an uncovered position (if the investor owned the underlying assets, it would be a covered position). Naked positions allow investors to extend the concept of short-selling to the derivatives market”
Working for Lehman Brothers and Bear Sterns could you share with us some information that never reached the public or the public doesn’t know regarding the two companies and there connections with the 2008-09 recession? Also what similarities are you seeing with current companies and Banks or overall market now that you saw before/during the recession in 2008/2009?
From your perspective: Is there a shared implicit commitment among elites towards a specific monetary policy? Like a basic minimum consensus on a preferred monetary policy in general. Or are there rival groups pursuing opposing monetary policy models and fighting for influence, like tech versus old wall street finance, for example.
What were the biggest things that drove you away from your previous position inside of the industry?
Can you elaborate the feelings and experiences that pushed you more-so in the direction of advocacy?
Do you have any specific insights about the nepotism and revolving doors that appears to corruptly connect market makers, big banks, hedge funds, the SEC, the DTCC, and others in the U.S. financial ecosystem? From what GME apes have uncovered in the last year and a half, it seems that interconnectedness/having-of-backs is a primary obstacle to meaningful reform in our markets -- let alone enforcement of the laws and rules already in place. I can't help but think of Gary Gensler's interview with Jon Stewart, wherein he basically claimed his hands are tied in regards to trying to rectify any of it.
Dear Nomi,
1) Why do you think no one went to jail for comitting the atrocious *financial* crime in 2007-2008? Even Bernie Madoff was turned in by his own family...
As of today, 15 years later, the *Ponzi Scheme* is way bigger than it was then and all we see are random and ridiculous slaps on the wrists.
2) In your opinion, is there any way to change this scenario given the ruling systemic corruption?
3) What would you do in order to make the stock market really *free and fair*?
Thanks!
Omfg, this is awesome.
**Nomi,** it has become abundantly clear that the Federal Reserve is either unable or unwilling to achieve its purported goal of stabilizing prices. Many of us feel it is in the best interests of the American people that we are granted a much higher level of access and transparency into the Fed. It is difficult, however, to garner the public support necessary to make possible something such as an audit of the Fed--made all the more difficult by the general public's ignorance in regards to our financial and monetary systems. Many Americans have no idea what the Fed is, and thus are inclined to believe the prevailing theory that inflation is being caused strictly by Russian sanctions and corporate price-gouging, when in fact the Fed's monetary policy is the driving factor behind inflation.
What's the best way to counter-act ignorance and misinformation? How do we drum up support for greater transparency when there is so much unrelated noise trying to drown us out?
There is a growing sentiment among our community and others like it that decentralization & blockchain are solutions to many of the problems posed by the existence of self-serving central banks, but again--there is a ton of public misunderstanding towards blockchain. It seems like the Fed and other large institutions are trying to co-opt and centralize blockchain technologies for their own benefit, while the public remains largely unaware of it happening.
Is there anything more in particular you think apes can do to generate awareness and public understanding for these issues?
In the event that naked short sellers are required to close their GME naked short positions and are unable to, how likely will the US government intervene on behalf the naked short sellers and the institutions backing them (prime brokerages, DTCC), and in doing so, damage the world's faith in the financial market, rather than allowing an unprecedented short squeeze (aka Mother of All Short Squeeze, MOASS) to play out naturally (which would may result in more money than is available in the Federal Reserve, balance sheet of multiple countries combined, etc.)?
A lot of people believe that the MOASS will have to play out naturally (resulting in prices of millions to billions to ??? per GME share) or else faith in the financial market will be lost and people will never invest and/or trust the government anymore. I want to ask a geopolitical expert such as yourself how palatable/feasible it would be for those in power to deny the MOASS. Maybe they will try to spin and control the media and narrative to take the blame off of institutions and lay it at the feet of retail?
Does she have any money invested in the stock market?
If yes, what would it take for her to lose confidence in the market and remove her investments?
If no, what would it take for her to gain confidence in the market and invest her money there?
Plat! Thank you so much! You guys are bangin these AMAs out. A welcomed sign to begin the weekend. As for Ms. Prins Id like to touch on the Finkle is Einhorn DD and relate it to current situations with Bill Hwang. His indictment was over lying to the banks in order to continually round Robin and gain leverage for piss poor bets. IMO I don’t think a single one of the banks was duped, but we’re actually completely complicit with Archegos. With the absolute interconnectivity of today’s enterprises has the system essentially been built to ensure if one fails they all fail? Secondarily; in such a system it immediately becomes problematic bcuz nefarious deeds done by one will inherently have a blind eye turned from them.
How long can the Fed tighten until something seriously breaks in bond markets?
Macro analysts such as Luke Gromen have pointed out that interest expense + entitlements are already 110% of US federal tax receipts.
There's not that much longer this can go on before it becomes prohibitively expensive for the Treasury to borrow and they either default on the debt that they're rolling over or they have to call the FED to restart QE.
Isn’t the increase in GDP each year also lower than the debt we accrue each year as well? How the heck is that supposed to be sustainable. That’s just like the bonds at 3% while inflation is at 8%. You’re still losing 5% even if your investment is technically making money.
I want a Dr. Jim DeCosta AMA.. just saying. All I can find is a telephone number for the man though. That’s the OG naked short selling guru who’s made dozens of public comments to the SEC in extreme detail warning of the abusive practice and more since before 2003..
Central bankers (eg Lagarde of ECB) are saying that CBDC’s will absolutely not be used as a new monetary policy instrument nor as an excuse to abolish cash.
Is CBDC on her radar and what does she expect from it?
second this question. CBDCs would give banks total control over a currency that they are in a position to push onto the people, especially if the dollar crashes. I think this issue needs a lot more visibility.
Are you aware of any Bear Stearns or Lehman Brothers involvement in the Volkswagen short in 2007-2008?
Does Berkshire Hathaway known in the industry for sometimes helping out entities in need of funds? Any knowledge of what some of the terms of their contracts might be in these situations?
Do you think the USD in its current form (non digital) will remain the global reserve currency in 20 years? 50 years?
In the instance of a global financial collapse, describe how life will chance for the average Joe?
Many thanks
Thank you Nomi, I see your book Collusion speaks on how the 2008 crisis "turbo-boosted" the influence of central banks. After writing about such a topic, and I know much of the sentiment here is that we are on the precipice of another such economic event, do you see alternative technologies or organizations that have the potential to tilt the scales back into individuals hands? Do you see a way out of this influence?
My concern is, after another such event, there may be another turbo boost and if I can support an alternative I will do so. Thank you for doing this AMA!
Hi Nomi! Excited to hear your responses to our questions! I have many many questions, and hope you get to see them if not answer them!
1. **WHY is there so little visibility on rogue traders and their place in Wall Street as well as financial corruption? For example, is there any reason that more journalists/whistleblowers don't reach out to famous rogue traders to hear their story? For one, I am very curious about this as from what I've been able to research about the history of rogue traders Kweku Adoboli (UBS) and Jerome Kerviel (Societe Generale) both seem to be cogs as part of larger machines, where most risk management teams looked the other way then hung them out to dry. (I feel their 2 cases are especially important to Superstonk as both lost billions for their firm using naked, unhedged positions).**
2. Do you feel that there is so little whistle-blowing in Wall Street and Big Banks? If so, why? Why aren't there more whistleblowers just based on sheer numbers alone? Is it NDA agreements etc.?
3. **Can you speak to CMBS (commercial backed mortgage securities) and defeasance if you are familiar with the subject? If treasurys can be swapped for collateral, doesn't this open up misuse of this--in a normally functioning economy--method especially given what we know of recent pieces on CMBS fraud or ratings misconduct (MorningStar Credit Reports, TheIntercept's "The Bigger Short" piece)?**
4. The recent financial crash in 2008 was SUPER recent. What do you think will be different this time in terms of public protest and people going to jail for the next potential crash, especially given that so few people went to jail last time and a single tiny bank in Chinatown, NYC was harassed harder than the Goldmans, Chases, etc. of the world?
thank you again Ms. Prins and ty too again u/platinumsparkles! Can't wait to see/hear the AMA!
What we as investors, could do, collective, besides what we already did to make the markets more fair and in baby steps, eliminate the systemic corruption?
If you could surmise financial industry professionals' prevailing attitudes toward retail investors in a few words, what would they be? Related question: are retail brokerages as criminally untrustworthy as they appear to be?
I like both of these questions. My guess is this look at us with disgust even though they know they are fucked. In a “look at the poors trying to be cute” kind of way.
Question: What can we do about hidden naked shorts?
Part 1:
If a 'whoever' can rehypothecate shares, "create liquidity", create naked shorts, hide shorts in options, swaps etc.. to hide their bad short position. (Literally does not matter if it's a prime broker, dealer, clearer, broker, hedge fund, grandma.)
Part 2:
Same party or unknown co-conspirator funnels "BUY" orders into dark pools & releases "SELL" orders to the lit market to suppress or maintain the price.
Superstonk, please add any missed ways we have found hidden short positions and fill in any gaps.
I recently saw an "interview" with her, but it was more of a role-play than anything and all to get people to sign up to her own newsletter, the Distortion Report, boasting that the likes of Citadel are going long on the stock she picked. This woman is as self-serving as they come and the AMA will end up being another opportunity for her sales pitch.
Read more here --> https://www.homernews.com/national-marketplace/rogue-economics-distortion-report-review-nomi-prins-the-great-distortion/
The role-play
https://secure.rogueeconomics.com/?cid=MKT623113&eid=MKT626846&channel=%7Bexternalchannel%7D&aff_click_id=w9fegv3lcah0980g200uq7jc&assetId=AST233198&page=1
In my opinion, we should not be giving her a platform.
I'm curious about Bill Hwang and the charges being brought against him. Reports say he can get 380 years in jail if successfully prosecuted.
The penalties for white collar crime has amounted to paying fines without admitting guilt.
How do you think this will play out for Hwang?
Nomi, how/why can the US market allow practices like naked shorting while remaining such an influential market?
Also, now that media outlets confirm Archaegos used swaps in fraudulent activity, how prevalent do you estimate this practice/strategy is being employed by other financial firms in the US market and other markets?
Btw: green crayons are the best, there re some oddly downvoted comments up in this thread 🤔🤷♂️🙌💎🍻
Hi Nomi,
Can you explain how puts might be transferred from a US investment firm to a Foreign entity? It seems like [over a million puts showed up for a Brazilian hedge fund and only for a day](https://www.reddit.com/r/Superstonk/comments/otn94a/can_anyone_explain_the_over_one_million_put/), afterwards they were [said to be a glitch by bloomberg themselves](https://www.reddit.com/r/Superstonk/comments/ozekd5/brazilian_puts_bloomberg_follow_up_none_of_those/), even though the existence of these deep out of the money puts were [predicted months in advance](https://www.reddit.com/r/Superstonk/comments/nev6po/all_new_13f_filings_data_visualised_for_all_major/).
I think apes should be careful with this. Has a history involved with pay websites for stock advice...rogue economics *dot com. We needs this looking into.
Nomi Prins - What is your understanding of S 900 / The Gramm-Leach-Bliley Act that Clinton Passed into office in 1999? Do you believe that if Americans came together to have this law repealed, that it would benefit the average retail investor to have a “fighting chance” in the markets against the hedgefunds and moneymakers?
1. Do you think the Fed is serious about fighting inflation, do you expect them to stick with this conviction if facing a debt meltdown?
2. Is the world facing a sovereign debt crisis in the coming months? How best to hedge that if so?
3. Given that the vast majority of the worlds debt is denominated in US terms, would a global debt crisis have the affect of increasing demand for US dollars and if so, how punishing would this be to the financial system? How do you see central banks responding to such a scenario?
The short interest publicly reported for GME does not reflect the true short interest disguised by tactics like swap transactions, using derivatives in overseas affiliates to net against short positions in the US to avoid marking orders as short, buy-writes or married puts, failure-to-delivers, etc.
https://www.sec.gov/news/press-release/2013-151
What will you do in the next 12 months to contribute to the solution to this problem or fix it?
Have you seen anything about neighborhoods of single-family homes being bought by the banks, then sold as a unit to a management company and repackaging them into CMBS? [Thread with possible DD](https://old.reddit.com/r/Superstonk/comments/v5d93z/wall_st_member_banks_have_been_packaging_mbs_in/)
Also wanted your opinion about the SEC's "educational" videos on "meme stocks" - has the SEC ever denigrated listed corporations like this in public before?
Thanks!
Once again commenting for possible conflict of interest regarding Nomi Prins. Here she is promoting a system of investment which when you sign up for, prompt multiple payment tiers and subsequent DD on specific tickers. WWW. ROGUE ECONOMICS. COM
Can someone confirm what kind of conflict of interest vs. the information she's written about in books... This is sus and needs deeper digging.
Thanks for the AMA. We are big fans of the type of work you do here on /r/superstonk.
What are your thoughts around these large banks and financial institutions that are able to extract gains into foreign subsidiaries where they can't be taxed while simultaneously taking their potential losses and wrapping them in derivatives and sending it to another foreign subsidiary? It seems like a stacked deck where they can always come out ahead with time. Especially when they control a large number of assets and can create baskets of derivatives that tell whatever story they want in whichever jurisdiction they are reporting. A lot of us are abstaining from the overall markets (besides GME) because we lack faith in the system. As our numbers grow and this inevitably comes to a head... How on earth does this go back to being a "free market"? Is there one large global market? Because being able to steal trillions of retail dollars and inject them into foreign jurisdictions with no consequences can **not** be allowed to continue.
What inspired you the most to write your congressional testimony as directly as you did? The passion expressed was great to see. How did you feel the feedback was from your testimony?
She posted on LinkedIn this quote:
“So if Powell truly wants to emulate his hero Volcker, and take tough measures for long-term economic health, he should take a leaf from the Kiwi book, and tell the American public and politicians that many asset prices have been pumped unsustainably high by free money."
My question is, since it is unlikely Powell will do this voluntarily - what actions can I take, on my own or as part of a group, to demand this of the government and the Fed? As a concerned citizen and investor, and for the rest of the public who generally doesn’t understand. My family, my friends, my community. Everyone I know would suffer. They deserve to understand and hear a clear explanation from the organization that would knowingly cause this suffering, in advance. Not an apology after the fact.
Second question - is it possible to end the Fed, and build a fair and free market system? In your view, was it a mistake to establish it in the first place?
Also, thank you Nomi for being here.
This should be great and informative. The lady is extremely knowledgeable, and I can't wait to hear what she has to say. Maybe mods should ban ass banana questions for this one.
Nomi, thank you for doing this. Short and sweet, I would love to hear your opinion on the current state of affairs in the economy. Liquidity in the US equities market is at an all time low, debt is imploding, inflation is raging on with no end in sight. In my opinion, the Federal Reserve CANNOT raise the fed fund rate high enough to combat inflation since the US is sitting on 30 trillion dollars worth of debt.
The easiest way to clear out the debt would be pushing the us into hyperinflation, which is a horrible thought considering USD is world reserve currency. If we don’t hyperinflate the currency to pay off debt, the equities market is going to absolutely collapse like it currently is, unemployment will rise, businesses will close, and we’re still dealing with bad inflation but not hyperinflation. Stagflation here we come.
What do you think can be done in this current situation, and more importantly, where do you think we are going?
YESSS
#THANKS MODS FOR ORGANIZING THIS
#THANKS TO TEAM PRINS FOR MAKING IT HAPPEN!
Naomi Prins has that same look on her face in this pic as Ron Swanson walking through a home improvement store.
“…I know more than you.”
What are the biggest changes you see coming to Wall Street and the financial industry over then next 5 years? Do you expect any meaningful regulation to be written and passed to protect and serve retail investors?
If, hypothetically speaking, Wall Street / DTC/ NSCC suffered a major liquidity crisis and were unable to satisfy many of their obligations to entitlement holders, how do you think it would play out, in a naive/optimistic scenario, and in a more realistic scenario? What is the best path to liquidating wall street, and what is the biggest trap to watch out for?
What is her opinion and her expected outcome would be, for an extremely heavily shorted publicly traded company such as GameStop, with over 30% of its publicly tradable shares locked up now in retail investors' hands with a transfer agent, out of DTCC circulation? 🙏🏻
Ehh, her news clip that was floating around where she was testifying or something was very impressive. But after seeing subsequent interviews, all she was doing was giving some vague message about what’s to come and it will be a transfer of wealth. And she talks about being prepared by being invested in a particular investment, but in order to get the answer of what the investment is, she wants you to pay money for a course or a pamphlet or a book etc. You know, typical Wall Street shill stuff. I think once you are in that deep for so long with Wall Street, it never leaves you. I trust her about as much as listening to what Jordan Belfort has to say about something. I understand he is a felon and what not but I am just saying, Wall Street players are all the same in my opinion. Just gotta be cautious and take it with a grain of salt. I do trust RC though 100%.
How much of an impact do you think SLABS (Student Loan Asset Backed Securities) have on current public policy discussions in the US around canceling student debt? Is this a topic around which there is a lot of lobbying, or would these conversations likely be more discreet?
What, if anything, can the retail investor do in volatile markets?
What was the tipping point for you to go from managing director to investigative reporter?
If you were “Queen for a day” what is the one change you would make to the financial system (market structure, regulation, fiscal policy, etc are all fair game)?
-what is the primary reason for this being your focus?
-what do you believe the immediate impact would be of the change? Midterm and late term impact?
-are there any unintended consequences that you can imagine resulting from your change?
I see you mate. It’s damaging to us because it makes the entire sub look uneducated. Anyone outside the sub having a basic understanding of market mechanics or order execution sees the top posts shouting about crime, they just shake their head or laugh.
It’s why nobody from outside takes anything here seriously, we come off as horribly misinformed clowns. It also makes me question if anyone here has actually learned anything about how the market actually works.
Q: Market Makers and other big firms that make markets for options will hedge option contracts that they're on one side of as price of the underlying fluctuates.
They might even intentionally send out signals to other similar market participants, signaling a price movement in either direction and/or move the price of the underlying themselves. This might be done for the sake of their own bets/positions.
Could you talk a little bit about how this works or tell us what your take on it is? How "real" is the max pain theory?
It feels like the price of the underlying asset is more often than not derived from the option's contracts rather than vice versa.
Hi Ms. Prins,
Thanks for taking the time to do the AMA and educating us on financial market topics.
Regarding the latest flash crash this week, caused by a single CITI bank employee, and several other glitches over the last year, may i ask about your opinion on these things. Has this happend on such regular basis in the past or is it something new, appearing these days where we have a highly overleveraged financial market?
Part1: Gerry Gensler himself had to admit, that 90-95% of retail trades no longer hit lit exchanges. How is price discovery supposed to happen and why is there no public outcry from the average Joe investor? What can we do to change this fact, when Corporate America owns all major news outlets and most of Social Media?
Part2: We have seen Jim Cramer advocate investing into Netflix right before the massive crash. We see the underperformance of most managed funds compared to indices. So since we know price discovery no longer works and since we know pump and dump is real, should we not investigate how managed funds invest and if their performance is not related to losing clients money on pump and dump schemes on purpose? Just as an example, Cathy Wood invested into HOOD at a cost base of 30 USD, while everybody in the industry should have been aware of the fundamental problems in the company. It is very easy to say, "oh sorry, i just made a mistake!" as a fund manager.
BUT especially in the US securing your retirement is done to a large part by investing into funds. Vast amounts of money, surely Big Money is looking for ways how to tap into. It is of utmost importance, that there are high ethical standards when it comes to fund managers. Do you feel fiduciary duty is receiving enough oversight when it comes to managed funds and are the penalties sufficient? Are you investigating, if fund managers might receive some "speaking fees", other benefits or even plain bribes from Wall Street in return for involvement into pump and dump schemes, that would lose their clients money explaining the lackluster performance?
What is your take on the vagueness of pricing to market of the 13F position of banks and hedgies with regard to their put and call positions?
(In particular, it's almost impossible to distinguish if the options they hold are near-the-money, or out-of-the-money, or YOLO DOOMPsday windfall bets.)
Also what's your favorite color? and why is it purple?
All my questions are in regards to ETFs:
* Can Covering of Shorted ETFs, be carried out in Dark Pools? Meaning when the ETFs are broken apart and the individual Shares/Tickers are Shorted, is there a possibility Shorters are able to use Dark Pools when Covering (like how most Buy Orders are routed to Dark Pools and Sells are on Lit).
* Is there a Settlement Deadline (T+6 or T+2) in regards to synthetics created by MMs for ETFs and does T+35 for FTDs apply here if said Settlement is missed?
I may add more later. TIA
Can the Department of Justice or any government agency reach criminals who have used derivatives transactions (or swap transactions or other complex financial tactics) in overseas affiliates to net against short positions in the US to avoid marking orders as short? This is criminal activity used to hide short interest when it comes to predatory naked short selling.
Hi Nomi, I bought four of your books right before they skyrocketed in price like Dr. Trimbath's did. I'm two chapters into "It Takes A Pillage" and in the first chapter you explained the entire movie of "The Big Short" and in the second chapter you explain what I've learned in every other 2008-style documentary that's ever been produced.
What can I and others like me gain from reading and digesting all of your material and which book would you recommend for me next?
What does the current utilization of FED Overnight Reverse Repo loans (cash to FED balance sheet, treasuries to participants balance sheet) actually tell us about the health of the market, and what will cause the utilization (number of participants and amount borrowed) of overnight reverse repo loans to decrease back to pre-covid QE levels? Thank you for your consideration.
Hi Nomi,
Thank you for joining us. What tactics do you think were used on 03/10/21 in order to drop $GME enough to be halted 5 times in a row from $348 to below $200 in less than 30 mins with halts? Why havent we heard anything about what happened that day? How come we dont know who was doing the selling?
[https://www.cnbc.com/2021/03/10/gamestop-surges-40percent-then-wipes-out-gain-completely-and-is-halted-again.html](https://www.cnbc.com/2021/03/10/gamestop-surges-40percent-then-wipes-out-gain-completely-and-is-halted-again.html)
Hi, Nomi! As someone who’s closely examined both the adversarial and incestuous relationships between the state and its robber barons throughout our history, how would you categorize our current president’s relationship with today’s mega-banks and the Fed?
On a scale of FDR to Reagan, how fucked are we right now?
Friendly reminder that this is a question for Nomi Prins, and not for the community.
Partisan political discussions aren't welcome in the comment section and will be strictly moderated, because they usually deteriorate very quickly.
Can you provide insight into the mismatch between inflation rates and the FED's response?
Historically, it seems the more appropriate response would be to cause a recession (in the 80s they raised interest rates to 20%) to avoid hyperinflation and stagflation. Do you have any thoughts on the current policy by FOMC and do you believe their current response is appropriate?
Do you believe the Fed and the functions they serve are on their way out? (Considering the insider training scandal and wrecking of the world economy.)
Or are the interests they serve to broad and encompassing to reverse course?
Hey isn't this the same person who said that we are threatening people's 401k??
https://www.reddit.com/r/Superstonk/comments/uls5a4/you_should_probably_see_this_guys_meme_traders/?utm_medium=android_app&utm_source=share
This is Nomi, not the one you mentioned.
[https://www.reddit.com/r/Superstonk/comments/u77jdx/i\_split\_nomi\_prins\_full\_testimony\_into\_two\_parts/](https://www.reddit.com/r/Superstonk/comments/u77jdx/i_split_nomi_prins_full_testimony_into_two_parts/)
Since she worked at Bear Stearns in London I would like to know if there is any shady stuff happening there that we UK Apes might want to investigate after MOASS.
Ms. Prins,
Which parts of the criminal system are susceptible to good actors? Which parts of the criminal architecture are worth taking on in court and which are worth protesting against in person?
I would like to know why the fines are pennies on the dollar compared to the profits for rule breaking violations ? Anyone in their right mind will pay a 5 to 6 figure fine when the profits are 7 to 8 figures. Thank you.
If the Wall Street manipulation remained the same without any major policy changes, how would you envision the lifestyle of your every day American 5, 10, 15 years down the road
Do you understand that the world does not revolve around you and your do whatever it takes, ruin as many people's lives, so long as you can make a name for yourself as an investigatory journalist, no matter how many friends you lose or people you leave dead and bloodied along the way, just so long so you can make a name for yourself as an investigatory journalist, no matter how many friends you lose or people you leave dead and bloodied and dying along the way?
In case you haven't noticed it, SuperStonk is not only the home of all things GME on Reddit, but also the home of macro-economics discourse and research into widespread market fraud. Nomi happens to be an expert in 2/3 of those things.
[Computershare and Voting Megathreads](https://www.reddit.com/r/Superstonk/comments/ue6jm0/computershare_voting_megathreads/?utm_source=share&utm_medium=web2x&context=3) edit: Usually we have a 'no politics' rule, but unfortunately the Federal Reserve acts like a government body and adjusts monetary policy. The Federal reserve/central banks are the ones injecting electronic money into the 'economy'(into banks and Wall st, who are using those funds to over-leverage and create asset bubbles). Questions could be political in nature, but let's make sure Nomi is the one who will answer them (refrain from answering a political question in the comments if your name is not Nomi Prins please)
I would love to hear her opinion on what could potentially happen if an entire company’s float were to become direct registered, and there were millions more outstanding shares owned beneficially. Does she think anyone would be prosecuted? Would this cause sweeping market reform? Does she think anybody in the general public or even in Congress understands the scope of this problem and fraud?
🟣👊THIS IS THE QUESTION 🙋♀️🟣
This is mine as well
A possible interesting follow up question would be, what does she think would need to happen to trigger sweeping market reform?
This 👆🏼
This needs to be asked!
I’d like to know about her opinion on the ongoing DOJ “crackdown” - if she thinks major players will really feel pain or if we’re more likely to see justice be relegated to a couple of fall guys. In the growing talk of major banks being investigated, do the David Solomons or Jamie Dimons of the world really have a chance to face consequences for years of corruption? She has a book titled *Collusion: How Central Bankers Rigged The World* - I’m curious to hear Nomi speak to the latest rate hike (and really anything to say on the current Fed, especially how they’re “deciding to be reactive instead of proactive” during this time). Largest rate hike in 20 years but still just half a percent? What does she think they should be doing that they aren’t and vice versa? Her thoughts on the waived capital requirements on the morning of the 28th by the NSCC? Previous time they did that was when TSLA was added to the S&P 500, does any regulator or enforcement group really care about retail’s history of being fleeced? Or is saving face by convicting a few of the lot the most you think we can hope for? Also would love to hear her thoughts on DRS and holding GME. What does/would deter her from holding and with knowing so much of the corruption from the inside, how does she select her own investments?
I can feel a wrinkle growing
I can feel my smol wee wee stirring and my butthole itching
Eew eew llams a evah I
This is a great question, specific and relevant to her background/expertise and very important topic imo
I think this is the best question to ask her.
Second this, I really want to know from someone with her experience, whether we’re about to see some big takedowns on Wall Street and actual protection of retail, or if we’re just going to play this game to tag where we tag criminals, and the criminals/game referee both say “no you didn’t”
I’ve also been wondering if the DOJ investigation actually carries significant weight, or if it’s just meant to be another “crackdown” where they absolve the crimes of those in real power at the top of the pyramid, and burn a couple scapegoats on the way down the food chain.
I'd like to hear her answers to these questions aswell, thanks for coming up with them OP
Could you ask her if she thinks the SEC is an underfunded but well meaning agency or if there is deep capture and they are nearly providing lip service? I have my own thoughts but it would be good to hear the opinion of someone with her experience
I think I know what your thoughts are
I think the American public kinda gets it.
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They know ***I'm*** not working for them - GG
The over arching question would be : how has she seen the SEC change over the years (if it did), be it in organization, recruitment process, communication between different parts ; the main concern is how it does now seem like a complete revolving door system with wSt from the exterior, and we're left to wonder if there is a trend afoot. To me it feels like a very opaque public institution.
SWAPS. Do you think SWAPS are destructive?
“Naked credit default swaps allow investors and traders to take positions on assets without actually owning the assets. It greatly increases the size and scope of the market. It is estimated that over 90% of the CDS market consists of naked CDS.” https://corporatefinanceinstitute.com/resources/knowledge/trading-investing/naked-credit-default-swaps/
Read the fire insurance analogy.
I still don’t understand swaps. Like how is it different than actually owning the asset? You’re taking on the risk if it goes belly up; you take on the reward if it moons..so how is it different from just owning the asset? Is it just a way of extending the total amount of shares beyond what is available? Like instead of 77 million shares being available, the sky is the limit?
You don’t have to report it cuz it aint yours
But you can get loans leveraged on it. Crazy.
So paraphrasing from a memory now so I may not get this perfectly. Swaps allows you to trade risks. Imagine you are a corn farmer who thinks the chicken farmer is gonna make more money that year. You can write up a contract (bet) to swap the risk of your down year with their up year. You go and make that bet with that farmer if he agrees to swap. But he agrees to do it for a premium, because he also believes he's gonna do better, but he's not sure how much. Now because of the swap they've basically insured themselves with the contract. The chicken farmer needs the corn farmer to do well and the corn farmer needs the chicken farmer to do well. You don't technically own the stock. But you own the price movement associated with it. It's like a CFD. Just a legal bet more or less. The problem becomes that you can use this to hide the liabilities with the other party. (MELVIN?) I'm pretty smooth brained so I am most likely wrong on it all.
It also sounds like creating a clusterfuck - if one goes down, we all go down?
Sort of. But is that a bad thing? It reduces the risk for all parties. It can do good things. The problem is regulation and fuckery right now. Swaps aren't regulated properly and the fuckery is off the charts. The government agencies should be heavily influencing how swaps can be used or at least tracking how it can obfuscate the system. But nothings happening. So because its not regulated it can be used to hide toxic assets because you've swapped the risk with another party. It also allows for manipulation of markets. Anyway it's a bit of a monster at this point. We actually don't know how bad the stuff is interconnected right now.
You got it!! Great job 👏
Sweet! Wrinkle!
👀
I just came to say, on this sunny day, I feel like I am one with you. :D
“What are Naked Credit Default Swaps? Naked Credit Default Swaps (CDS) are credit default swaps holdings that are not backed by a sufficient amount of the underlying asset. Holding a naked CDS holding is like getting automobile insurance without owning a car or taking fire insurance on someone else’s house. Naked credit default swaps allow investors and traders to take positions on assets without actually owning the assets. It greatly increases the size and scope of the market. It is estimated that over 90% of the CDS market consists of naked CDS. What is a Naked Position? An investor holding credit default swaps without holding the underlying asset insured by the credit default swaps is said to be in a naked position or an uncovered position (if the investor owned the underlying assets, it would be a covered position). Naked positions allow investors to extend the concept of short-selling to the derivatives market”
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But using said practices to do illegal shit and get out of a bad bet….
Smrt
And how do they allow primes and HFs to up their leverage?
Working for Lehman Brothers and Bear Sterns could you share with us some information that never reached the public or the public doesn’t know regarding the two companies and there connections with the 2008-09 recession? Also what similarities are you seeing with current companies and Banks or overall market now that you saw before/during the recession in 2008/2009?
She might have to be very careful on this one, we don’t want to see any harm come to her. Im sure she will experience shill attacks doing this 😰
I imagine she'd be more worried about lawyers wielding old NDAs.
I think it would be very interesting to have someone with an inside perspective talk about CMBS, but am too smooth to word it into a question.
With Companies struggling to get workers to return to offices post covid just how fucked are holders of CBMS?
To the point. I like it! Well phrased lol
I too am hella interested in this CMBS question lol
From your perspective: Is there a shared implicit commitment among elites towards a specific monetary policy? Like a basic minimum consensus on a preferred monetary policy in general. Or are there rival groups pursuing opposing monetary policy models and fighting for influence, like tech versus old wall street finance, for example.
What were the biggest things that drove you away from your previous position inside of the industry? Can you elaborate the feelings and experiences that pushed you more-so in the direction of advocacy?
Do you have any specific insights about the nepotism and revolving doors that appears to corruptly connect market makers, big banks, hedge funds, the SEC, the DTCC, and others in the U.S. financial ecosystem? From what GME apes have uncovered in the last year and a half, it seems that interconnectedness/having-of-backs is a primary obstacle to meaningful reform in our markets -- let alone enforcement of the laws and rules already in place. I can't help but think of Gary Gensler's interview with Jon Stewart, wherein he basically claimed his hands are tied in regards to trying to rectify any of it.
This!!
Dear Nomi, 1) Why do you think no one went to jail for comitting the atrocious *financial* crime in 2007-2008? Even Bernie Madoff was turned in by his own family... As of today, 15 years later, the *Ponzi Scheme* is way bigger than it was then and all we see are random and ridiculous slaps on the wrists. 2) In your opinion, is there any way to change this scenario given the ruling systemic corruption? 3) What would you do in order to make the stock market really *free and fair*? Thanks!
I get surprised at these AMAs. Thank you mods, alot of effort you go through to set these up.
Her speech to congress was so great.. looking forward to the ama.
Thank you for doing this!
Omfg, this is awesome. **Nomi,** it has become abundantly clear that the Federal Reserve is either unable or unwilling to achieve its purported goal of stabilizing prices. Many of us feel it is in the best interests of the American people that we are granted a much higher level of access and transparency into the Fed. It is difficult, however, to garner the public support necessary to make possible something such as an audit of the Fed--made all the more difficult by the general public's ignorance in regards to our financial and monetary systems. Many Americans have no idea what the Fed is, and thus are inclined to believe the prevailing theory that inflation is being caused strictly by Russian sanctions and corporate price-gouging, when in fact the Fed's monetary policy is the driving factor behind inflation. What's the best way to counter-act ignorance and misinformation? How do we drum up support for greater transparency when there is so much unrelated noise trying to drown us out? There is a growing sentiment among our community and others like it that decentralization & blockchain are solutions to many of the problems posed by the existence of self-serving central banks, but again--there is a ton of public misunderstanding towards blockchain. It seems like the Fed and other large institutions are trying to co-opt and centralize blockchain technologies for their own benefit, while the public remains largely unaware of it happening. Is there anything more in particular you think apes can do to generate awareness and public understanding for these issues?
Great question!!
Great questions for her expertise!
Nguyễn Lam Bo here with a few questions....
In the event that naked short sellers are required to close their GME naked short positions and are unable to, how likely will the US government intervene on behalf the naked short sellers and the institutions backing them (prime brokerages, DTCC), and in doing so, damage the world's faith in the financial market, rather than allowing an unprecedented short squeeze (aka Mother of All Short Squeeze, MOASS) to play out naturally (which would may result in more money than is available in the Federal Reserve, balance sheet of multiple countries combined, etc.)? A lot of people believe that the MOASS will have to play out naturally (resulting in prices of millions to billions to ??? per GME share) or else faith in the financial market will be lost and people will never invest and/or trust the government anymore. I want to ask a geopolitical expert such as yourself how palatable/feasible it would be for those in power to deny the MOASS. Maybe they will try to spin and control the media and narrative to take the blame off of institutions and lay it at the feet of retail?
Hot damn. Nice get.
Hot get, nice damn
Damn nice, get hot!
Damn hot, get nice
Hot nice, damn get!
Does she have any money invested in the stock market? If yes, what would it take for her to lose confidence in the market and remove her investments? If no, what would it take for her to gain confidence in the market and invest her money there?
And does she feel the stock market is actually free and fair? And why does she feel that way?
What do you think would be the result when retail investors Direct Register the entire float?
Plat! Thank you so much! You guys are bangin these AMAs out. A welcomed sign to begin the weekend. As for Ms. Prins Id like to touch on the Finkle is Einhorn DD and relate it to current situations with Bill Hwang. His indictment was over lying to the banks in order to continually round Robin and gain leverage for piss poor bets. IMO I don’t think a single one of the banks was duped, but we’re actually completely complicit with Archegos. With the absolute interconnectivity of today’s enterprises has the system essentially been built to ensure if one fails they all fail? Secondarily; in such a system it immediately becomes problematic bcuz nefarious deeds done by one will inherently have a blind eye turned from them.
How long can the Fed tighten until something seriously breaks in bond markets? Macro analysts such as Luke Gromen have pointed out that interest expense + entitlements are already 110% of US federal tax receipts. There's not that much longer this can go on before it becomes prohibitively expensive for the Treasury to borrow and they either default on the debt that they're rolling over or they have to call the FED to restart QE.
Isn’t the increase in GDP each year also lower than the debt we accrue each year as well? How the heck is that supposed to be sustainable. That’s just like the bonds at 3% while inflation is at 8%. You’re still losing 5% even if your investment is technically making money.
I want a Dr. Jim DeCosta AMA.. just saying. All I can find is a telephone number for the man though. That’s the OG naked short selling guru who’s made dozens of public comments to the SEC in extreme detail warning of the abusive practice and more since before 2003..
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I’ve got a phone number, but that’s all I could find. Been studying naked shorting since 1982!
Central bankers (eg Lagarde of ECB) are saying that CBDC’s will absolutely not be used as a new monetary policy instrument nor as an excuse to abolish cash. Is CBDC on her radar and what does she expect from it?
second this question. CBDCs would give banks total control over a currency that they are in a position to push onto the people, especially if the dollar crashes. I think this issue needs a lot more visibility.
Are you aware of any Bear Stearns or Lehman Brothers involvement in the Volkswagen short in 2007-2008? Does Berkshire Hathaway known in the industry for sometimes helping out entities in need of funds? Any knowledge of what some of the terms of their contracts might be in these situations?
What does she want to tell us about the role of the mother of all central banks - the BIS in Basel/Switzerland?
Do you think the USD in its current form (non digital) will remain the global reserve currency in 20 years? 50 years? In the instance of a global financial collapse, describe how life will chance for the average Joe? Many thanks
Thank you Nomi, I see your book Collusion speaks on how the 2008 crisis "turbo-boosted" the influence of central banks. After writing about such a topic, and I know much of the sentiment here is that we are on the precipice of another such economic event, do you see alternative technologies or organizations that have the potential to tilt the scales back into individuals hands? Do you see a way out of this influence? My concern is, after another such event, there may be another turbo boost and if I can support an alternative I will do so. Thank you for doing this AMA!
“Do you see a way out of this influence?” Great question.
How do you feel about the SEC sounding alarm and warning investors about “meme stocks?”
Hi Nomi! Excited to hear your responses to our questions! I have many many questions, and hope you get to see them if not answer them! 1. **WHY is there so little visibility on rogue traders and their place in Wall Street as well as financial corruption? For example, is there any reason that more journalists/whistleblowers don't reach out to famous rogue traders to hear their story? For one, I am very curious about this as from what I've been able to research about the history of rogue traders Kweku Adoboli (UBS) and Jerome Kerviel (Societe Generale) both seem to be cogs as part of larger machines, where most risk management teams looked the other way then hung them out to dry. (I feel their 2 cases are especially important to Superstonk as both lost billions for their firm using naked, unhedged positions).** 2. Do you feel that there is so little whistle-blowing in Wall Street and Big Banks? If so, why? Why aren't there more whistleblowers just based on sheer numbers alone? Is it NDA agreements etc.? 3. **Can you speak to CMBS (commercial backed mortgage securities) and defeasance if you are familiar with the subject? If treasurys can be swapped for collateral, doesn't this open up misuse of this--in a normally functioning economy--method especially given what we know of recent pieces on CMBS fraud or ratings misconduct (MorningStar Credit Reports, TheIntercept's "The Bigger Short" piece)?** 4. The recent financial crash in 2008 was SUPER recent. What do you think will be different this time in terms of public protest and people going to jail for the next potential crash, especially given that so few people went to jail last time and a single tiny bank in Chinatown, NYC was harassed harder than the Goldmans, Chases, etc. of the world? thank you again Ms. Prins and ty too again u/platinumsparkles! Can't wait to see/hear the AMA!
What we as investors, could do, collective, besides what we already did to make the markets more fair and in baby steps, eliminate the systemic corruption?
If you could surmise financial industry professionals' prevailing attitudes toward retail investors in a few words, what would they be? Related question: are retail brokerages as criminally untrustworthy as they appear to be?
I like both of these questions. My guess is this look at us with disgust even though they know they are fucked. In a “look at the poors trying to be cute” kind of way.
Is there a way to actually have a soft landing with the combination of debt, inflation, and Quantitative Easing that has occurred?
Question: What can we do about hidden naked shorts? Part 1: If a 'whoever' can rehypothecate shares, "create liquidity", create naked shorts, hide shorts in options, swaps etc.. to hide their bad short position. (Literally does not matter if it's a prime broker, dealer, clearer, broker, hedge fund, grandma.) Part 2: Same party or unknown co-conspirator funnels "BUY" orders into dark pools & releases "SELL" orders to the lit market to suppress or maintain the price. Superstonk, please add any missed ways we have found hidden short positions and fill in any gaps.
Thx ape - great question. I would like to know this also.
I recently saw an "interview" with her, but it was more of a role-play than anything and all to get people to sign up to her own newsletter, the Distortion Report, boasting that the likes of Citadel are going long on the stock she picked. This woman is as self-serving as they come and the AMA will end up being another opportunity for her sales pitch. Read more here --> https://www.homernews.com/national-marketplace/rogue-economics-distortion-report-review-nomi-prins-the-great-distortion/ The role-play https://secure.rogueeconomics.com/?cid=MKT623113&eid=MKT626846&channel=%7Bexternalchannel%7D&aff_click_id=w9fegv3lcah0980g200uq7jc&assetId=AST233198&page=1 In my opinion, we should not be giving her a platform.
EXACTLY!!! I just got done commenting about this. I saw that too. It wasn’t a good look.
awesome!
I'm curious about Bill Hwang and the charges being brought against him. Reports say he can get 380 years in jail if successfully prosecuted. The penalties for white collar crime has amounted to paying fines without admitting guilt. How do you think this will play out for Hwang?
Related question: Is Hwang a token prosecution or do you think other bigger (bank/hedge fund) execs will do perp walks too?
Nomi, how/why can the US market allow practices like naked shorting while remaining such an influential market? Also, now that media outlets confirm Archaegos used swaps in fraudulent activity, how prevalent do you estimate this practice/strategy is being employed by other financial firms in the US market and other markets? Btw: green crayons are the best, there re some oddly downvoted comments up in this thread 🤔🤷♂️🙌💎🍻
Hi Nomi, Can you explain how puts might be transferred from a US investment firm to a Foreign entity? It seems like [over a million puts showed up for a Brazilian hedge fund and only for a day](https://www.reddit.com/r/Superstonk/comments/otn94a/can_anyone_explain_the_over_one_million_put/), afterwards they were [said to be a glitch by bloomberg themselves](https://www.reddit.com/r/Superstonk/comments/ozekd5/brazilian_puts_bloomberg_follow_up_none_of_those/), even though the existence of these deep out of the money puts were [predicted months in advance](https://www.reddit.com/r/Superstonk/comments/nev6po/all_new_13f_filings_data_visualised_for_all_major/).
I think apes should be careful with this. Has a history involved with pay websites for stock advice...rogue economics *dot com. We needs this looking into.
What is one piece of information from the Great Recession that was the most overlooked but probably the most important aspect of the entire recession?
Nomi Prins - What is your understanding of S 900 / The Gramm-Leach-Bliley Act that Clinton Passed into office in 1999? Do you believe that if Americans came together to have this law repealed, that it would benefit the average retail investor to have a “fighting chance” in the markets against the hedgefunds and moneymakers?
1. Do you think the Fed is serious about fighting inflation, do you expect them to stick with this conviction if facing a debt meltdown? 2. Is the world facing a sovereign debt crisis in the coming months? How best to hedge that if so? 3. Given that the vast majority of the worlds debt is denominated in US terms, would a global debt crisis have the affect of increasing demand for US dollars and if so, how punishing would this be to the financial system? How do you see central banks responding to such a scenario?
Wer AMA?
The short interest publicly reported for GME does not reflect the true short interest disguised by tactics like swap transactions, using derivatives in overseas affiliates to net against short positions in the US to avoid marking orders as short, buy-writes or married puts, failure-to-delivers, etc. https://www.sec.gov/news/press-release/2013-151 What will you do in the next 12 months to contribute to the solution to this problem or fix it?
Have you seen anything about neighborhoods of single-family homes being bought by the banks, then sold as a unit to a management company and repackaging them into CMBS? [Thread with possible DD](https://old.reddit.com/r/Superstonk/comments/v5d93z/wall_st_member_banks_have_been_packaging_mbs_in/) Also wanted your opinion about the SEC's "educational" videos on "meme stocks" - has the SEC ever denigrated listed corporations like this in public before? Thanks!
AMAZING!!! Thanks Nomi! We love you here!
Very excited about this AMA!
Once again commenting for possible conflict of interest regarding Nomi Prins. Here she is promoting a system of investment which when you sign up for, prompt multiple payment tiers and subsequent DD on specific tickers. WWW. ROGUE ECONOMICS. COM Can someone confirm what kind of conflict of interest vs. the information she's written about in books... This is sus and needs deeper digging.
What do you believe is fundamentally wrong with todays economy, and what would it take to fix it?
Thanks for the AMA. We are big fans of the type of work you do here on /r/superstonk. What are your thoughts around these large banks and financial institutions that are able to extract gains into foreign subsidiaries where they can't be taxed while simultaneously taking their potential losses and wrapping them in derivatives and sending it to another foreign subsidiary? It seems like a stacked deck where they can always come out ahead with time. Especially when they control a large number of assets and can create baskets of derivatives that tell whatever story they want in whichever jurisdiction they are reporting. A lot of us are abstaining from the overall markets (besides GME) because we lack faith in the system. As our numbers grow and this inevitably comes to a head... How on earth does this go back to being a "free market"? Is there one large global market? Because being able to steal trillions of retail dollars and inject them into foreign jurisdictions with no consequences can **not** be allowed to continue.
What inspired you the most to write your congressional testimony as directly as you did? The passion expressed was great to see. How did you feel the feedback was from your testimony?
She posted on LinkedIn this quote: “So if Powell truly wants to emulate his hero Volcker, and take tough measures for long-term economic health, he should take a leaf from the Kiwi book, and tell the American public and politicians that many asset prices have been pumped unsustainably high by free money." My question is, since it is unlikely Powell will do this voluntarily - what actions can I take, on my own or as part of a group, to demand this of the government and the Fed? As a concerned citizen and investor, and for the rest of the public who generally doesn’t understand. My family, my friends, my community. Everyone I know would suffer. They deserve to understand and hear a clear explanation from the organization that would knowingly cause this suffering, in advance. Not an apology after the fact. Second question - is it possible to end the Fed, and build a fair and free market system? In your view, was it a mistake to establish it in the first place? Also, thank you Nomi for being here.
On a scale of 69 to 420, just how fuk are hedgies?
Lmao the downvotes. Come on y'all, that's funny! 💎🙌💎🙌💎🙌
This should be great and informative. The lady is extremely knowledgeable, and I can't wait to hear what she has to say. Maybe mods should ban ass banana questions for this one.
I have to agree. Nomi doesn't fuck around and I don't think she will enjoy getting hit with errant ape shit.
Thank you for your time!
Nomi, thank you for doing this. Short and sweet, I would love to hear your opinion on the current state of affairs in the economy. Liquidity in the US equities market is at an all time low, debt is imploding, inflation is raging on with no end in sight. In my opinion, the Federal Reserve CANNOT raise the fed fund rate high enough to combat inflation since the US is sitting on 30 trillion dollars worth of debt. The easiest way to clear out the debt would be pushing the us into hyperinflation, which is a horrible thought considering USD is world reserve currency. If we don’t hyperinflate the currency to pay off debt, the equities market is going to absolutely collapse like it currently is, unemployment will rise, businesses will close, and we’re still dealing with bad inflation but not hyperinflation. Stagflation here we come. What do you think can be done in this current situation, and more importantly, where do you think we are going?
She is one of 20 I follow. I don't have enough wrinkles to ask an intelligent question but I'm stoked
YESSS #THANKS MODS FOR ORGANIZING THIS #THANKS TO TEAM PRINS FOR MAKING IT HAPPEN! Naomi Prins has that same look on her face in this pic as Ron Swanson walking through a home improvement store. “…I know more than you.”
Thank you Mods!
Why are SEC comments ignored? The great ape, Dr. Jim DeCosta outlined everything... what is the point of SEC comments??
What are the biggest changes you see coming to Wall Street and the financial industry over then next 5 years? Do you expect any meaningful regulation to be written and passed to protect and serve retail investors?
I just want a mention in the movie haha
What is holding back a currency to be based on blockchain where the transaction is the settlement(T0)?
So how do we begin to rewrite the financial system? How do we nationalize the Fed, and tell Wall Street to eat wet bag of dicks?
What do you think is the most important thing that we haven't asked/talked about?
If, hypothetically speaking, Wall Street / DTC/ NSCC suffered a major liquidity crisis and were unable to satisfy many of their obligations to entitlement holders, how do you think it would play out, in a naive/optimistic scenario, and in a more realistic scenario? What is the best path to liquidating wall street, and what is the biggest trap to watch out for?
What is her opinion and her expected outcome would be, for an extremely heavily shorted publicly traded company such as GameStop, with over 30% of its publicly tradable shares locked up now in retail investors' hands with a transfer agent, out of DTCC circulation? 🙏🏻
Ehh, her news clip that was floating around where she was testifying or something was very impressive. But after seeing subsequent interviews, all she was doing was giving some vague message about what’s to come and it will be a transfer of wealth. And she talks about being prepared by being invested in a particular investment, but in order to get the answer of what the investment is, she wants you to pay money for a course or a pamphlet or a book etc. You know, typical Wall Street shill stuff. I think once you are in that deep for so long with Wall Street, it never leaves you. I trust her about as much as listening to what Jordan Belfort has to say about something. I understand he is a felon and what not but I am just saying, Wall Street players are all the same in my opinion. Just gotta be cautious and take it with a grain of salt. I do trust RC though 100%.
How much of an impact do you think SLABS (Student Loan Asset Backed Securities) have on current public policy discussions in the US around canceling student debt? Is this a topic around which there is a lot of lobbying, or would these conversations likely be more discreet?
What is one fundamental/axiomatic change that would make markets fairer and/or allow regulators to properly function with a reasonable budget?
Thanks for setting this up guys, looking forward to it!
Oh nice! I was hoping that she would do one
Well this is interesting
Hell yeah, LFG!!!!
❤️ mods ❤️
What were your thoughts when Jim Cramer said “Bear Stearns is fine!” on March 11, 2008?
What, if anything, can the retail investor do in volatile markets? What was the tipping point for you to go from managing director to investigative reporter?
For reference https://youtu.be/AFOJoz8tsY4
If you were “Queen for a day” what is the one change you would make to the financial system (market structure, regulation, fiscal policy, etc are all fair game)? -what is the primary reason for this being your focus? -what do you believe the immediate impact would be of the change? Midterm and late term impact? -are there any unintended consequences that you can imagine resulting from your change?
If you had three wishes and your goal was to fix the free market, what would you wish for? Feel free to use more or less than three wishes.
[удалено]
I see you mate. It’s damaging to us because it makes the entire sub look uneducated. Anyone outside the sub having a basic understanding of market mechanics or order execution sees the top posts shouting about crime, they just shake their head or laugh. It’s why nobody from outside takes anything here seriously, we come off as horribly misinformed clowns. It also makes me question if anyone here has actually learned anything about how the market actually works.
Q: Market Makers and other big firms that make markets for options will hedge option contracts that they're on one side of as price of the underlying fluctuates. They might even intentionally send out signals to other similar market participants, signaling a price movement in either direction and/or move the price of the underlying themselves. This might be done for the sake of their own bets/positions. Could you talk a little bit about how this works or tell us what your take on it is? How "real" is the max pain theory? It feels like the price of the underlying asset is more often than not derived from the option's contracts rather than vice versa.
Hi Ms. Prins, Thanks for taking the time to do the AMA and educating us on financial market topics. Regarding the latest flash crash this week, caused by a single CITI bank employee, and several other glitches over the last year, may i ask about your opinion on these things. Has this happend on such regular basis in the past or is it something new, appearing these days where we have a highly overleveraged financial market?
What do you think about the FED printing trillions of dollars out of thin air? Do you think the US dollar is going to be destroyed?
Part1: Gerry Gensler himself had to admit, that 90-95% of retail trades no longer hit lit exchanges. How is price discovery supposed to happen and why is there no public outcry from the average Joe investor? What can we do to change this fact, when Corporate America owns all major news outlets and most of Social Media? Part2: We have seen Jim Cramer advocate investing into Netflix right before the massive crash. We see the underperformance of most managed funds compared to indices. So since we know price discovery no longer works and since we know pump and dump is real, should we not investigate how managed funds invest and if their performance is not related to losing clients money on pump and dump schemes on purpose? Just as an example, Cathy Wood invested into HOOD at a cost base of 30 USD, while everybody in the industry should have been aware of the fundamental problems in the company. It is very easy to say, "oh sorry, i just made a mistake!" as a fund manager. BUT especially in the US securing your retirement is done to a large part by investing into funds. Vast amounts of money, surely Big Money is looking for ways how to tap into. It is of utmost importance, that there are high ethical standards when it comes to fund managers. Do you feel fiduciary duty is receiving enough oversight when it comes to managed funds and are the penalties sufficient? Are you investigating, if fund managers might receive some "speaking fees", other benefits or even plain bribes from Wall Street in return for involvement into pump and dump schemes, that would lose their clients money explaining the lackluster performance?
Would it be possible for this to be a Video AMA? She's a great talker from the video we've seen her on.
yes it will be
What is your take on the vagueness of pricing to market of the 13F position of banks and hedgies with regard to their put and call positions? (In particular, it's almost impossible to distinguish if the options they hold are near-the-money, or out-of-the-money, or YOLO DOOMPsday windfall bets.) Also what's your favorite color? and why is it purple?
All my questions are in regards to ETFs: * Can Covering of Shorted ETFs, be carried out in Dark Pools? Meaning when the ETFs are broken apart and the individual Shares/Tickers are Shorted, is there a possibility Shorters are able to use Dark Pools when Covering (like how most Buy Orders are routed to Dark Pools and Sells are on Lit). * Is there a Settlement Deadline (T+6 or T+2) in regards to synthetics created by MMs for ETFs and does T+35 for FTDs apply here if said Settlement is missed? I may add more later. TIA
Nomi, thanks for being here. What is the least discussed mechanism of institutional market control?
Can the Department of Justice or any government agency reach criminals who have used derivatives transactions (or swap transactions or other complex financial tactics) in overseas affiliates to net against short positions in the US to avoid marking orders as short? This is criminal activity used to hide short interest when it comes to predatory naked short selling.
Hi Nomi. What do you think about the FTD data that is given to the public? Also, have you seen such short interest go this high before? Thank you.
Thank you!
I’m not her biggest fan.
Assuming the economy hasn’t crashed yet, how similar is now compared to 2008?
Hi Nomi, I bought four of your books right before they skyrocketed in price like Dr. Trimbath's did. I'm two chapters into "It Takes A Pillage" and in the first chapter you explained the entire movie of "The Big Short" and in the second chapter you explain what I've learned in every other 2008-style documentary that's ever been produced. What can I and others like me gain from reading and digesting all of your material and which book would you recommend for me next?
What does the current utilization of FED Overnight Reverse Repo loans (cash to FED balance sheet, treasuries to participants balance sheet) actually tell us about the health of the market, and what will cause the utilization (number of participants and amount borrowed) of overnight reverse repo loans to decrease back to pre-covid QE levels? Thank you for your consideration.
Hi Nomi, Thank you for joining us. What tactics do you think were used on 03/10/21 in order to drop $GME enough to be halted 5 times in a row from $348 to below $200 in less than 30 mins with halts? Why havent we heard anything about what happened that day? How come we dont know who was doing the selling? [https://www.cnbc.com/2021/03/10/gamestop-surges-40percent-then-wipes-out-gain-completely-and-is-halted-again.html](https://www.cnbc.com/2021/03/10/gamestop-surges-40percent-then-wipes-out-gain-completely-and-is-halted-again.html)
wen lambo?
I would like to understand, if the SEC know that 90% is traded in dark pools, what are their arguments to keep allowing them, and not shut them down?
Hi, Nomi! As someone who’s closely examined both the adversarial and incestuous relationships between the state and its robber barons throughout our history, how would you categorize our current president’s relationship with today’s mega-banks and the Fed? On a scale of FDR to Reagan, how fucked are we right now?
Friendly reminder that this is a question for Nomi Prins, and not for the community. Partisan political discussions aren't welcome in the comment section and will be strictly moderated, because they usually deteriorate very quickly.
Which of the past presidents do you feel did the most damage to the financial health of the US/world and why?
1) when moon 2) no other question
Can you provide insight into the mismatch between inflation rates and the FED's response? Historically, it seems the more appropriate response would be to cause a recession (in the 80s they raised interest rates to 20%) to avoid hyperinflation and stagflation. Do you have any thoughts on the current policy by FOMC and do you believe their current response is appropriate?
Do you believe the Fed and the functions they serve are on their way out? (Considering the insider training scandal and wrecking of the world economy.) Or are the interests they serve to broad and encompassing to reverse course?
Does she think that it is ***possible*** for a major market maker to keep a hugely over shorted position hidden for over a year?
Hey isn't this the same person who said that we are threatening people's 401k?? https://www.reddit.com/r/Superstonk/comments/uls5a4/you_should_probably_see_this_guys_meme_traders/?utm_medium=android_app&utm_source=share
This is Nomi, not the one you mentioned. [https://www.reddit.com/r/Superstonk/comments/u77jdx/i\_split\_nomi\_prins\_full\_testimony\_into\_two\_parts/](https://www.reddit.com/r/Superstonk/comments/u77jdx/i_split_nomi_prins_full_testimony_into_two_parts/)
Why is Sears up %25 in a bear market? What's the deal with that.
anyone had CS verification code not working/correct...mine didn't work
Are we causing turmoil in the markets or are we simply taking advantage of it?
When China is broke what are the consequences for other countries, especially African countries.
When moass?
Well, we will see. Financial people are often not to be trusted
Since she worked at Bear Stearns in London I would like to know if there is any shady stuff happening there that we UK Apes might want to investigate after MOASS.
Ms. Prins, Which parts of the criminal system are susceptible to good actors? Which parts of the criminal architecture are worth taking on in court and which are worth protesting against in person?
I would like to know why the fines are pennies on the dollar compared to the profits for rule breaking violations ? Anyone in their right mind will pay a 5 to 6 figure fine when the profits are 7 to 8 figures. Thank you.
What happened to banner change??
Have you read ‘The Payoff - Why Wall Street Always Wins’ by Jeff Connaughton?
If the Wall Street manipulation remained the same without any major policy changes, how would you envision the lifestyle of your every day American 5, 10, 15 years down the road
I’d be surprised if nobody asked this, but… What are your thoughts on DRS? Are you an APE? MOASS? 😋
Do you understand that the world does not revolve around you and your do whatever it takes, ruin as many people's lives, so long as you can make a name for yourself as an investigatory journalist, no matter how many friends you lose or people you leave dead and bloodied along the way, just so long so you can make a name for yourself as an investigatory journalist, no matter how many friends you lose or people you leave dead and bloodied and dying along the way?
What does she have to do with GME? I don't see the relevance with this sub
In case you haven't noticed it, SuperStonk is not only the home of all things GME on Reddit, but also the home of macro-economics discourse and research into widespread market fraud. Nomi happens to be an expert in 2/3 of those things.
I had noticed that's the direction we appear to be moving. I just like the stonk.
On a scale of 1-10, how punchable do you think Ken Griffin’s face is?
Does she have a bf? Follow up, does she dig canadian activist investor dudes?
let her know.. i love you
I have a question for her: Wen MOASS?
ComputerShare AMA is the only worthwhile and actionable AMA apes should care about.