Welcome back to the channel everyone today, i want to talk about some more corruption in the amc and gamestop lawsuit. That's been going on recently in florida, the one that was just thrown out, and i also want to talk about a massive fine that was just issued to jp morgan, so stay tuned and let's make some money. And now i want to dive straight in with the key information. So all 35 cases in the robin hood or amc and gamestop lawsuit were transferred to a favorable judge by this man.

John w nichols his wife is a trustee at the art institute of chicago, where ken griffin kindly lets them display his expensive art pieces. Now, obviously, you can see this is a photo of ken griffin and john nichols together. You can also see this extract in relation to the january 2021 short squeeze trading litigation. This is the conditional transfer order to transfer 35 civil actions to the honorable, cecilia m alternega, and, if you didn't already know, judge cecilia ortenega dismissed the case without prejudice.

That does give retail investors until december 20th to file an amended complaint. However, where the corruption really starts to jump out is that she's actually married to a partner at one of the defendant's law firms. So obviously, the person that made the conditional transfer order is obviously best buds with ken griffin and the new judge that the case was transferred to is married to one of the defendants as tweeted by apparently exempt two cigna. One of the defendants was represented by holland and knight.

One of holland and knight's partners is george mencio and obviously, if you hadn't put two and two together, george mencio is judge altenega's husband. So this comes from cecilia altenega's, personal profile or professional profile. It says: judge altenega has lectured and presented course materials as an attorney and judge on a range of subjects, including the juvenile system, domestic violence, local government law, professionalism and the economic loss rule. She was born in baltimore maryland and is the daughter of cuban immigrants.

She lives in coral gables in florida, with her husband, george mencio jr, a lawyer specializing in international law, so this lawsuit that was recently thrown out is the one that accuses robin hood markets of colluding with electronic trading company citadel securities. Obviously it's not good. This lawsuit has been thrown out of public court. However, it does give the retail investors until december 20th to just file a slightly amended complaint, and now this conflict of interest has been exposed.

I think they've got no choice but to find yet another judge and to stop any kind of similar transfer happening again. Moomoo's biggest ever promotion currently gives you five free stocks, valued up to three thousand five hundred dollars each. I wanted to break down how you can get every single one of those free stocks. When you open a moomoo account, you get your first free stock, valued up to 3 500 when you deposit any amount.

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Winning these auctions and trying to get these court cases thrown out is to effectively protect his name and to protect his firm. As the poster here says. Just a reminder, ken griffin is making all of these public appearances and lavish purchases to drown out his search history related to crime. You can see that all of the top stories to do with ken griffin and now to do with him outbidding that group of retail investors for a copy of the us constitution.

The reason why he's trying to do absolutely anything he can to protect his name and to protect his firm is because so many investors will have been withdrawing their funds from citadel. Obviously, if these high net worth individuals see their fund manager, ken griffin is up to no good they're going to want to withdraw their cash and go elsewhere. If they want to withdraw their cash, that ken griffin has leveraged at a ratio of eight to one. It means that ken griffin is gon na have to sell off tons and tons of his long positions or cover tons of his short positions in order to return that cash.

For example, if a high net worth individual wants to withdraw two billion dollars, ken griffin's probably got to sell off around 16 billion dollars worth of long positions in order to return that cash, because obviously ken griffin leverages his money so much and borrows tons and tons Of money from other institutions like bank of america, for example, and now i also want to talk about the connection between margin and options and why margin requirements are always increased. Around amc and gamestop when the price starts to run upwards. As the poster says, connection between margin and options they took exercising out of retail's hands. The first poster says: it's all: potential people need money to exercise those options and sorted chaos, responded saying this is also, i suspect, why they raise the margin requirements on gamestop to 300 percent and why they also raise margin requirements on amc as well.

A lot of brokers at the moment aren't allowing you to use margin whatsoever when purchasing amc or gamestop shares, or amc and gamestop options, and some brokers are even requiring that you have double the amount of cash or triple the amount of cash. In your account that you want to use to buy amc and gamestop effectively, these brokers didn't want people exercising their options by using margin, and if someone did, they wanted them to get instantly margin called into a forced cell. This is effectively another sneaky tactic. The brokers are using to effectively turn off the buy button for amc and gamestop say, for example, if you've got some options on amc or gamestop, and you want to exercise those options to get those shares.

But your broker doesn't want to go out into the market and find those shares, because obviously they're so difficult to find at the moment. Well, they can obviously restrict your margin usage if you're planning to exercise those options using the margin available in your account to buy those shares. Well, unfortunately, you can't do that anymore and you may even have to deposit additional cash in order to exercise those options. This is just another sneaky tactic for those brokers to basically turn off the buy button and prevent you from getting more amc in gamestop shares, and i also want to talk about why the gamestop and amc squeeze is going to resemble the overstock squeeze more than it Will resemble the volkswagen squeeze why the gamestop and amc short squeeze may be much more similar to the overstock short squeeze than the volkswagen short squeeze, and why you will likely come out with a fat game.

The gamestop and amt short squeeze will likely be more similar to the overstock short squeeze than the volkswagen short squeeze for two main reasons. Firstly, volkswagen was brought up by a single party, then actively took measures to help the short sellers to cover. Secondly, the short interest in volkswagen was more than likely much much lower than the short interest in gamestop and amc. In this sense, the gamestop and mc squeeze may be more similar to the overstock squeeze, which would imply that everyone that bought before the squeeze and sold after it literally any time would make a profit.

Obviously, the volkswagen squeeze was caused by one player porsche, who bought up a large amount of the shares. Then, as the price began to rocket, they sold five percent of their holdings again to ease the situation so that effectively cut down the volkswagen short swedes. With a huge amount of shares being available again or at once, and the second important factor is that the short positions in volkswagen were likely much much smaller than the ones we expect to see in gamestop and amc. The short interest in volkswagen at the time was only around 12.8 percent, considering the flow is shorted multiple times over for amc and gamestop.

Therefore, we're likely to see something much more dramatic than this upward spike in price, although something interesting about the overstock squeeze is that the squeeze never really finished or never really dipped back down. Obviously, overstock started around. The two dollar mark ran up to around 130 mark. Yes, it came back down temporarily, but is now well over a hundred dollars once again and therefore potentially the gamestop and amc short squeeze may not be a squeeze.

That's over and done with over the course of a day or two. The price could stay high for many months after. I also wanted to quickly touch on the financial stability report issued by the federal reserve that actually mentions amc and gamestop. The federal reserve's financial stability report starts by mentioning the gamestop stock price and also the number of mentions on twitter around january, but then it also goes on to say that amc became much more correlated, as illustrated in figure e.

Higher flow correlations have the potential to amplify liquidity shortages in equity markets and may lead to price dislocations if sufficiently large. You may remember from the other week the financial stability report spoke about how meme stocks could potentially crash the economy. The report went on to say, third, the risk management systems of the relevant financial institutions may not be calibrated for the increased volatility or financial losses that could result from the trends highlighted here. More frequent episodes of higher volatility may require further steps to ensure the resilience of the financial system and therefore the federal reserve is basically saying that if amc and gamestop squeeze again and experience higher volatility, they may need to take additional steps to ensure the resilience of The financial system and therefore, potentially the federal reserve, could be the next ones, turning off the buy button for amc and gamestop and just in case you didn't think that the current market was corrupt.

Enough jp morgan have just agreed to pay 60 million dollars to settle a precious metals spoofing. Lawsuit. Jp morgan agreed to pay 60 million dollars to settle a class action litigation by investors who accuse the largest u.s bank of intentionally manipulating prices of precious metal, futures and options. If you didn't already know under the 2010 dodd-frank act, spoofing is defined as the illegal practice of bidding or offering, with intent to cancel before execution.

Spoofing can be used with layering algorithms and front-running activities, which are also illegal, but obviously jpmorgan didn't admit any wrongdoing in their agreement of that 60 million dollar settlement, it covered trading in precious metal, futures and options from march 2008 to august 2016.. So this was a legal spoofing that went on for eight years and jp morgan have basically admitted to it and paid the fine but said that obviously they didn't do anything wrong, but that was only around seven percent. Of the estimated 915 million dollar of class-wide damages guys before. Let me know down in the comments below what you think about the corruption in the robin hood or the amc.

Gamestop lawsuit going on in florida. And if you haven't already be sure to sign up to moomoo to get those five free stocks valued up to three thousand five hundred dollars each and as always guys if you enjoyed this video, be sure to check out some of my others. Alternatively, subscribe to the channel and ding that notification bell, because that way, you'll be alerted when i upload a new video cheers.