A cultural event has finally come along that has begun to shove aside all those Bernie Sanders in mittens memes: The RobinHood GameStop fiasco on Wall Street. This is one of several dozen memes related to this story that has already popped up online this week.
Some gazillionaire Wall Street hedge fund villains decided they were going to bankrupt all those GameStop stores that you see in malls all across America. They had planned to do this by short selling the stock and then badmouthing the business on CNBC in order to drive the stock down, while pocketing the difference for themselves.
But some gamers on Reddit decided to prank the 1-percenters, using their $600 stimulus checks. No, really. GameStop shares have been driven up close to $500 apiece last week – which means the hedge funders are going to lose billions of dollars when those short sales close.
Now RobinHood and other trading apps are suddenly forbidding users from buying GameStop and other stocks, in order to protect the hedge fund gazillionaires. The whole thing is hilarious because it exposes the rigged system on Wall Street.
So, naturally, the media is now declaring the “Redditors” to be a bunch of white supremacists.