As these retail investors band together over Reddit’s ‘Wall Street Bets’ forum and other platforms to crush hedge funds by triggering short-squeezes – some turning meager savings accounts into six-figure positions – several have shared very personal stories of just why they’re doing this.
One such user, a Redditor who goes by the name Space-Peanut, has a very personal reason for tossing their match onto the pyre.
Read below (emphasis ours):
“This is for you, Dad.
“I remember when the housing collapse sent a torpedo through my family. My father’s concrete company collapsed almost overnight. My father lost his home. My uncle lost his home. I remember my brother helping my father count pocket change on our kitchen table. That was all the money he had left in the world. While this was happening in my home, I saw hedge funders literally drinking champagne as they looked down on the Occupy Wall Street protestors. I will never forget that.
“My Father never recovered from that blow. He fell deeper and deeper into alcoholism and exists now as a shell of his former self, waiting for death.
“This is all the money I have and I’d rather lose it all than give them what they need to destroy me. Taking money from me won’t hurt me, because i don’t value it at all. I’ll burn it all down just to spite them.
“This is for you, Dad.”
There are similar stories from the Great Inflation in Germany, in 1921 – 23. In order to survive, soon-to-be destitute-families were sometimes forced to sell all their possessions to rich people who lorded it over them with a pronounced lack of sympathy. Too often the rich people were Jews who understood inflation, saw it coming, took appropriate action, and profited by it — and the losers were non-Jewish Germans. The experience was seared into many souls, and when the opportunity for revenge was offered, they took it. There were of course many other causes, and a long history behind all this, but these experiences turbo-charged the anti-Jewish policies of the Nazis.
A reader adds:
To think they thought that no-one really understood what happened to them in 2000 and in 2007. This isn’t left vs right it’s everyone else vs the very rich who’ve enjoyed keeping their profits and getting bailed out on their losses for 20+ years. i.e. who’ve rigged the system. Payback.