ECB Cuts Rates + GameStop Making Roaring Kitty a Billionaire Tonight
Ok we know the big news is the global central banks have tossed in the towel on the inflation worry as the ECB cut rates in 5 years stating via the NY Times:
“The inflation outlook has improved markedly,” Christine Lagarde, the president of the E.C.B., said on Thursday at a news conference in Frankfurt. “It is now appropriate to moderate the degree of monetary policy restriction.”
NY Times posted this graphic as well and I think you guys know what happens next:
However the bigger story of the day is the continued money printing that GameStop is providing to Keith Gill AKA Roaring Kitty. We touched upon this in the prior posts and this move is absolutely epic and we have to say the shorts if the market opens here tomorrow will be carted out feet first and many will be liquidated promptly by their risk managers. We love this move and its a testament to the will of this guy to put his nuts out there, list his positions and put it straight to the big funds fat face! With 1.5bn shorts most of them naked and borrowing against virtually nothing, well you are dead, this represents a massive $44.5Bn dollar loss and yes these guys that are going to scramble for emergency credit lines to withstand this onslaught will be promptly left out in the cold. Yea many will say Magnelibra there are only 68m shares short, well there are many more naked than that, that is what are disclosed. Not to mention the current short interest to float of GameStop is 22% but that number is also not correct because the float is far less than the 300 some million, its probably more like 180 million float:
Anyway Roaring Kitty if GME closes up here will be sitting on a massive options and outright winner putting him in the billionaire class! We love it, he deserves it, he has balls of steel and this is truly a story for the ages! Here is the Tweet on X that Unusual_Whales put out earlier:
So you can see why MSM is pasting Kitty as a market manipulator, the reality is, what he is exposing is how rigged the financial system is and when you rig a system and hijack the markets aka pay for order flow and dark pools, well sometimes you don’t get to have your cake and eat it too. Sometimes the ants join together and realize there are a hell of a lot more of them then the big dog controlling everything. I know many readers and listeners believe that the markets are fair and transparent, THEY AREN’T! Both Ken Griffin and Gary Gensler (Citadel / Head of SEC) have brazenly stated that markets are controlled by a very few large players…Kenny G said he sets the price of securities and Gensler said retail orders go to dark pools by guys that pay for that order flow…So we thought this new GameStop saga a few weeks ago was going to be epic and we are correct…keep an eye on this tomorrow!
Look you don’t get more transparent than Roaring Kitty, all he does is post his account and his positions, that is it, this is not market manipulation…Elon Musk and Jim Cramer are guilty by factors of this…
Roaring Kitty is livestreaming tomorrow, this is awesome
We will post our regular data updates tomorrow and maybe tomorrow we get a negative NFP who knows…all we know is the world is changing quickly and quickly enough that guys like Keith Gill can go from zero to a billion and central banks can cut rates and still say inflation is sticky…till next time!