GameStop Rebellion, the populist successor to Trump and Brexit

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Nigel Farage hailed the GameStop Rebellion as the natural successor to the populist movement that led Brexit and Donald Trump to victory in 2016.

The leader of the UK Reform Party said he was “with ordinary traders” in the so-called Reddit Revolution, in which millions of small investors collectively took on giant hedge funds by buying heavily sold stocks such as Gamestop and AMC – what losses on Wall Street.

Mr Farage said it was ‘about time for Wall Street to have a bloody nose’ after the damage the financial sector inflicted on ordinary people during the 2008 economic collapse, when banks were bailed out at the expense of the public.

The driving force behind the Brexit movement has said that a “new kind” of economic populism has emerged with WallStreetBets – the Reddit group behind the movement – but that it is ultimately based on the long-held sentiment among the masses that “we We’re run and governed by people, whether they work in the public service, big business, big banks, politics, much of the media, they’re all the same people.

“They don’t understand the conversations we have every day and of course when it comes to money they’re all there for themselves,” Farage added.

“That’s why we voted for Brexit and that’s why in 2016 Trump was elected and got 75 million more votes in November, and now that populist action has gone from voting to what people do on markets, ”he continued.

Mr Farage said the action taken by financial services firm Robinhood, which barred traders from buying shares of GameStop, AMC and others, showed the market to be “openly rigged” by “Favor of the great, in favor of
and against the common people ”.

Farage went on to say that the financial services industry and government were “all in bed together,” pointing to US Treasury Secretary Janet Yellen, who previously headed the Federal Reserve.

Ms Yellen was revealed to have received more than $ 800,000 in speaking fees from Citadel, a hedge fund that bailed out Melvin Capital, one of the hedge funds that suffered heavy losses after taking large short positions against GameStop.

Breitbart News reported on Friday that the Treasury Secretary had not recused herself from advising President Joe Biden on the populist economic revolt, despite what some see as an apparent conflict of interest.

“We don’t know what advice she gave, we don’t know what prompted brokers to stop taking buy orders,” Farage noted.

White House press secretary Jen Psaki defended Yellen not to recuse herself, pointing to the fact that she was a woman in office as an achievement in itself and adding that “it shouldn’t come as a surprise to anyone she’s been paid to give her perspective and advice before. she took office.

Mr Farage concluded by saying that “maybe the establishment this time has bitten more than it can chew,” noting bipartisan calls for investigations into Robinhood from Republican Senator Ted Cruz and Congresswoman Democrat Alexandria Ocasio-Cortez.

He said the establishment is in trouble because “ they haven’t just made the Trumpites scream, they now have the Trumpites linked to those on the left, both having a common cause about how the fat money, the big banks, the big politics work together for them and against ordinary people.

Follow Kurt Zindulka on Twitter here @KurtZindulka



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