The Basement Lounge
The Basement Lounge

Season 2, Episode 26 · 1 year ago

Dogecoins & Hedge Funds


Shea has NO concept of how Dogecoin & cryptocurrency work, so Wells breaks it all down for him. Plus, Wells thinks the endgame is approaching for the hedge fund stock shorters.

This week, Mike & Mike talk about:

  • Dogecoin & cryptocurrency is confusin.
  • Hedge fund people are the worst.
  • The endgame of the AMC stock fiasco is nigh.

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Mike Wells - @mikewtfwells

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Hey everybody. If you would like to get more involved with the show and become a VIP of the basement lounge, just head on over to our website, tbl pod dotnet and click on the become a VIP button. That will take you over to our Patreon, where you can join and become a VIP and get acts to all kinds of cool features, things like guest interviews, early released episodes, a special private rss feed for your podcast APP and so much more. Every contribution helps us grow this show into something new and more exciting. So join the patreon today. Go to our website, tbl pod dotnet, or go to patreoncom slash tbl underscore pod and become a VIP. Today. This episode is powered by pod decks. Go to www dot podxcom and use the code tbl Ten to get ten percent off your purchase at checkout. Once again, that's www dot pod dexcom. Welcome to the Basement Lounge podcast with your host Mike Shay and Mike Wells. Sit Back, GRAV A, drink, relax, let's see where the time takes us. Enjoy. So you've you're onto a new financial thing with this Dogecoin Shit. I have doche. I don't have a lot of dochecoin. Okay, is this just another bitcoin? Now? It's not going to be a prominence bitcoin. Doge has no limit. BITCOIN does. Bitcoin does, just like how I'm understanding it. There's infinite amount of doche. Okay, bitcoin. There's a limit amount of bitcoin. Okay. So, though, I think doze is going to be the cryptocurrency of the future, like Elan said. Yeah, because I think it's not crazy expensive. That makes sense. So I anybody can invest. I mean, cryptocurrency makes no sense to me. I crypt up bitcoin. What a currency is, quite like only fans and that I don't get it. BITCOIN was originally for black market stuff. Okay, that's a bitcoin was the maid. That was the major thing it was used for for like a really long time, like dark Webshit, dark web buying, purchasing stuff, BLA Bloj, and it's it's just fast transaction time. Bitcoin just that stuff. is initially for fast transaction time. Like, for example, when it came to a cryptocurrencies, like if I sent you money through, like not pay pal, but like whether this the cash app or something like, not the ones you have to pay like five bucks if you send somebody money to or something like that. Okay, yeah, I could. Well, crypto you can do that. It's crazy fast and there's no fee for it a lot of times, and if there's a fee, it's like half a penny or something like that. I guess that was the point. That was also why bitcoin launched so much, just because like an earth Cryptos so much. It because like, oh, there's different routes, it's faster transaction times, everything like that. I guess one I think it when I think of cryptocurrency. I'm sure I'm way off, so don't yellow at me. My understanding of it is that it's like kind of like in a in a mobile game. We can be ten bucks for a hundred diamonds. So that makes each does diamonds could go up and value at some point. Huh? Those diamonds could go up and value though. So then that's how crypto works. Is that just the the if cryptocurrency is the diamonds and I pay ten bucks for a hundred diamonds, that makes one of those diamonds worth ten bucks. or it would be ten dollars. Or want ten dollars for Hundre it would be worth ten cents. Yeah, so sound the road, down the road, that diamond, those diamonds could then be worth fifty cents each. It's like, okay, it's almost like stock. Okay, okay, like a stock and go up and down. Blah, Blah Blah. Is that? But the whole point in Crypto is literally transaction time. Okay, when it times, like moving money and stuff like that, just it's easy way to convert money to like crazy easy convert money, like if I give you a Bitcoin, it's super fast to how to be like, Oh, I can do pay Soos, like if I from US money, like if I...

...want to take my US money and move it over the pay Soos, I can give you a bitcoin. Blah, blah, blah. I cash out of pay Soos. That about this and that. Okay, it's crazy if the transaction time, but when it comes like does, I do think does is the actual future cryptocurrency, because you have a lot of companies now accepting Doge, like the mavericks are secting dough just payment for like tickets, MMM and stuff like that. So a lot of things are the reason why, because we're really it's still money. You're still getting like you're literally by right now. I five soldier. I think DOJ is like, let's say, if it's at fifty cents, right, if I gave you four notes, it's two dollars. MM. Because like, like you could have it on your you could transfer from like phone, the transfer somebody's phone. You could do like almost like a pay thing, like touch somebody's other phone and stuff like that, transfer money over. But I think DOJ is the future because it's so I think the most of ever get up to his ten bucks. That's the most, ten bucks for one Dogecoin. Yeah, I think that's I don't and I might be pushing it, and that's years and years down the road. Reason why it's gone off lately is because of Elon, because he's promoting it or whatever. I don't like that. I just I don't he even owns any M he owns bitcoin. Oh does he? Ye, was a lot of bitcoin. That's what made him the richest man in the world for like and then a drop the wing back up now as the richest manage because he bought a lot of Bitcoin. But you can't, but I think legally he can't say by Bitcoin and then by bit. You know what I mean? No, that's insider tree. Yeah, let's see, that's the weird thing too, is crib. I don't know crypto really counts as anything. It's not. It's I don't know enough about that aspect of it. Yeah, but it's just like ven as much as you explain to me right now, I honestly still don't get it. It's just and I don't know, I don't have a brain for that kind of thing. It's just like it's literally I look at a stock, you have to look at as like a stock and go up or up or down. But basic and you're just basically trading in that stock. Yes, if it were itself a currency. Yeah, okay, like if slip, if stocks for dollars. And Yeah, initially it was literally for Dark Web Shit, because you could transfer like US dollars to like rubies or whatever they're called, and like it was super easy transaction roupe. So well, I don't rules. What are they called over there? What will? There's one called rupees and I've heard the term roubles before. Maybe it's the same, I don't know, like one of those. Also, I'm fucking like Zelda. I don't said one of these sounds like so that out of a video game butter. But yeah, Doche like I had a lot of money and doze at one point. I calculate how much money I would have. I kept it in airman like forty five thero with a doge. Oh Shit, but I took it out. I moved over to AMC because I think AMC's longer, better, longer plays. That's if I cashed out at the top, at seventy six cent mark there, still playing the MC absolutely. It's almost I think it's beginning of the end game. I think we're in, as quoting marvel, or in the end game, like, okay, I gotta show you this boy has this how much I love this stuff. So let's see here. So when you short stock, you have to borrow the stocks right, right, and you have to pay a interest fee on that stock. Yeah, so AMC's short borrow interest rate as of yesterday morning, okay, was let me pulled up one officially. Yesterday morning, or excuse me, yes, sure's start at twenty six point six percent interest rate for every stock you have to pay twenty six percent interest. Oh Wow, as of today, right now, that interest rate is now at seventy nine point five. Really. So anybody who shorts stock has to pay seventy nine and a half percent wholely shots. Why? I think we're getting at the end game. Holy Shit, that's...

...wild. Hedge rounds are like fucking losing their mock the hedge round guy, you gotta like, if you if you like, look into this shit. So Adam are and is the CEO of AMC. Okay, one of the cool honestly, there's a guy named trade trades. I follow on the Guy Online. I watch his youtube videos. This is gonna sound very conspiracy theory, asks and I don't want to come on, but he does. He does the information and then, like you watch other things, you look up your own information. Makes Sense. It all makes sense. So this whole point was like that. One day there was like one point five billion stocks traded of AMC and there's only four hundred million stocks. So you telling me the entire float got traded three different times when everybody, a lot of people are holding the stock, not training it, because you can look every single day. I'll tell you how many people sold percentage wise, and how many people bought, and like a lot of days it's like ninety five percent bought, five percent sold. So you're like, how the fuck is that as all this going on? Well, Adam are went on trays channel like the CEO of AMC and did an interview with him for two hours. Holy Shit, one of the nicest people. I like, cool and like. And here's the wild thing. So he sold a lot of a shares. Right, he didn't sell them. He gave them to his twins and in the thing is to twin twin sons. Yeah, he gave me. He gave him each two hundred fiftyzero shares for their thirty birthday. But the articles read he's sold all his shares, but when you actually look at the filing, it says they were given as a gift to his to twin sons. I know you do that. Can do that. And the thing is, like people like, oh, he's like the CEO. Just see this and give a shit aballast his pay. Eighty five percent of his pay is stock. Yeah, he cares about the stock going up. So he does this interview. It talks and that's what fucks a lot of these corporate guys as they get all their is, their their salaries are in stock and then when the companies go under they have nothing. We like he fucking he wants it to fucking squeeze to he's going to be a a jillionaire. Right. So he starts talking and like he can't tell you anything about the stock. He's not allowed to because it's CEO. But he's on saying during the end of you, like you guys, there's this, there's this proposition, there's a shareholder of vote which I have to vote on, which is so cool, and I feel like I felt like an adult that they wanted to add down the road to Mabel, add five hundred million more shares to the stock. Okay, what should dilute the stock, which he's a smart businessman. You don't do it all. Wants to do it over time. Ball this and now right by he on the on the enterview. He's like, I know you guys are really worried about all this. So what we're going to do is, if it, this does pass, we promise not to even put any of that stock during this year period, like we're not going to do that now any and he hit when he says that it has to be filed by the SEC, like he has to go and file it and it was filed. Oh so it's like okay, well, I'll go and I'll go on more deeper shit later on. That okay. And then, like a week before like the shareholders movie meeting we're supposed to take place, he says, you know what we're that you guys aren't liking. We're reading what we see online. All Lot of you guys aren't liking what we're going to do. We're doing with this. We're just going to pull that off the table. You can no longer vote for it. We're not even to ask for that anymore. Sure, like Oh, we're like, oh, that's that's awesome, like he's listening to everybody. Sure, I did change my vote. I had my initial vote on it was no, but when he talked about it from a CEO perspective, I change it to yes because you could change it up to the certain date and I was like that makes sense. But then there's just more. He's like, we'll pull it by thinking more to... than that. So but during the end of you he's like everybody needs to vote. I don't care what you vote, yes or no, everybody needs to vote's kept on saying it and saying it. We're like what. Okay, like I voted will come to find out. He's just like when he tweeted, like Hey, we removed the stock. He's like, Hey, we removed a five hundred million off the table. He's because we have, because of our millions of individual shareholders. And some lady was like did you just say millions? He's like yeah, we have, and there's like yeah, we have over three point two million individual shareholders, which is insane to think about. MMM, so you're telling me there's three point two million individual shareholders like myself that hold the stock. That doesn't include institutionals, that doesn't include CEOS or whatever, that's just individual people like you are me holding it around. Yeah, and that's everybody who voted. If you live overseas and have it. They weren't getting able, they were having the avilability to vote. So now, going back to that day that there is almost there was like one point five billion stocks traded. Now it makes sense. There's so many synthetic shares, are fake shares in the market. They have to be bought back at some point. Oh, if I own fake shares, like when you short of stock, you can short it or you can or you can lend out a stock. It's it's you can give them the real thing or an IOU right, they've been getting out these ioeus almost like stock credit. Yeah, Shit, it has to be bought back. Yeah, so I own five hundred personally. Okay, the average person, they say, the average on a conservative side, owns two to three hundred. That's on the conservative they think anywhere. There's between two billion and five point five billion shares of this. And if it's five point five billion, five billion of them are fake. Oh my God, Oh my God, how do you buy back that many fake shares? They and they have to at some point. They have to, and everybody, like everybody's like a MC has to know. The hedge funds have to. AMC doesn't. AMC has not do with they just have the stay. These are the hedge fun fuckers that have been iouing all these shares, shorting it, short all Homek shorting it something I use, lending like it's fucking and that's why I like, all a sudden the interest rates gone up. The interest rate was at like so, okay, let me go back even further. So in two thousand and nineteen, Adam are and did an interview saying we know the stock is getting shorted, like we know that. They're trying to short us out of business. This isn't two thousand and nineteen right, and he knew it. He said an interview, like we know. And so I all of a sudden rant. I think this is why he's a genius, because a certain point, like you can show a stock you short as long as you want, because if you shorter stock, if you shorter company and they go bankrupt, you don't have to pay taxes anymore. Period. Okay, you can have a basically you make all your money and you don't pay taxes on it, but if you lose, you have to pay. It's up to literally the shareholder deciding how much money you I want for my stock, because you have to buy it back from me. Oh my God. So here's the crazy thing. So I think what I think it's a genius. Part I think what Adam are and did. I don't think they ever want to do the five hundred million dilution or five hundred million extra stock. I think he put it out there to make shorts one of the double and triple down, because if he puts it out there, that means, oh, we got more time, we can just wait that passes. They'll do that. Was Keep on hammering and hammering and hammering it right, Danny did the interview tray and say we're pulling that out, like what we'll do? We won't do any of those stocks this year and the like. Okay, fine, like we'll...

...just have to wait. Both will double down again. And did that for like two weeks and I finally they like finally that. He was like, yeah, it's no longer on the table, like we took that off and all of a sudden, like a couple days later, the interest rate from from like thirteen percent to twenty percent. It's like twenty six percent. Now it's up the seventy nine percent. Oh my God. Yeah, it's a fucking ticking time bomb. Holy Shit. Everybody thinks I'm everybody thinks I'm crazy. Not Crazy, but it sounds very conspiracy theory. Ask, yeah, but if you do the math you're like, yeah, this makes sense. Like I remember looking at it in January, well, no, late January, early February, and I was like, Holy Fuck, this is going to Expec like I was just doing all the numbers in my head, like writing stuff down, like looking at the math and like, yeah, there's a massive amount of fake shares. There's no way, there's there's no way shit. And so they're doing another vote, right, and they pushed back this in the reason being they pushed back the shareholder meeting because, in the also on that tweet, well, I'll have the exact tweet. I put the exactly so I was like, I'm so into this now, Holy Shit, it's very like. That's why I've been telling me. People have been giving me shit about it. Yeah, I'm like and actually cold people. I respect fuckers. Where is it? Where is it? Where is it? This is a gotta put it earlier. Say AMC were schedule annual meeting of shareholders to July twenty nine, because the shareholders meeting will supposed to be like Mayfe May, the fourth. It was fun, it was kind of it was irony. Among other reasons, we did so to give our millions of current individual shareholders more time to let their voices be heard the cast or ballast some important shareholder matters. And somebody literally was like I got to find I see. It's like, did he just say millions of shareholders? That had a Maren's like yes, indeed, that is right. Mc now has over three million individual shareholders. And then on a and I listened to the the earnings call, he said we have over three point two million. Not Everybody voted and the votes were from the end of I think, not the end of March. They stopped voting, marched like including being able to vote March twelve. So there's more people a bought stock after that. Oh, yeah, that were he they he, he's so intelligent. He know what's going on. He's just trying to get it. Individual share count perfectly. So he's like goes to the SEC and as like you guys need to do something shit. You have to do something about this, because this is all you can. You can give out, you can loan, and I owe you right. It's there's some way to do it not be illegal, but the way they're doing it is illegal. There can't be over, let's say, in the five but there can't be five billion fake shares. Yeah, that's you can't be at over a hundred percent in fake shares. You know it's well, you're looking at five hundred percent, since that's okay us saying over. I don't know what the do the math. Somebody. That's yeah, that's that like a thousand percent from three point two million to five point three billion. That's yeah, a Holy Shit. I think that's hit. I think honestly could be higher than that, because I realistically think so. If three do the math on this shit. So I let's say conservatively, a three hundred people, three hundred million people. Right, there's three hundred. Each person has three hundred shairs times three point but three hundred times three point two million, three hundred times three point two million. Yeah, it's like one point one billion, nine hundred sixty million. Okay, so almost some billion. Yeah, so that's just on the conservative side. Yeah, I myself own five hundred. I know people that owe tens of thousands of...

...stocks. So saying it's so, the saying that there's five points, there's five point three billion, is what he's saying right. Well, some people, are a lot of people. The estimate they're thinking between one point five like the conservative estimate is like one to like one point five billion, one one point five billions on the conservative side. I've seen as high as five point five billion, okay, and that's just from March, like twelve or something like that. Correctly, that's a that's a almost that's a four hundred and sixty nine percent. Four six now overage. HAH over. That is ridiculous. You here some crazy about game stop. Game Stop, because they were part of this whole shit too. Oh yeah, I gave stops, the big one, I caus I have one game stop stuck. Yeah, just track it, game stop. They say institutional investment is over two hundred percent. That's not possible. No, you can't be over a hundred percent. Yeah, that's the little fucking wild on their fucking like every market thing you bought, two hundred percent of the stock is owned by institutions. What? That's impossible. Jesus, Jesus Christ. And somebody was bitching at me the other day like you're going to ruin people's lives, like you, you, Mike Wells, are going to ruin people. Why? Like, because I think it's funny. Because, like, my f thing is, like if I lose all my money right, which I don't think I will, I'll lose five grant. Whoop the fucking do? It's five thousand dollars. Even then I can write three thousand of it off my taxes. That's fantastic. Even that, I don't think it will go down now low I had literally have to go to zero, mm, and I think the lowest it could go would be five bucks, if that, and really I don't even think that's even feasible anymore. HMM. What hedge funds can lose is millions and billions and billions, and what the one percent can lose is billions of dollars, which honestly, they can afford to lose. And he was like where you just going to? You know, you're stick in your you're ruining people's lives. The person that you're kind of ruining people's lives like this and that as like I first off here. And like he's like all they're going to do is write it off on their taxes anyways. So, first off, you can't write all of it off on your taxes. Secondly, if they short the business out complete, they weren't going to pay taxes on it anyways. Yeah, so they they basically didn't have to pay taxes on any of that if they got what they wanted. And secondly, so white. And then he said it was like so what? They can't fucking fly flourish Class A couple weeks? Fuck them. Yeah, oh no, if the switch from a tesla to a B mw like some shit like who gives a fuck, and the way that and the whole point. At the first it was like about making money. As I got school, way to make money. It still quim. But now, like the DCC and the SEC are introducing rules and they're trying to get these rules in place like a sack because they ain't fucking know. Yeah, fucking Nancy Pelosi's husband hedge fun because other yeah, bought a bunch of AMC stocks. Now they know, because now you have hedge funds are short of it and you have had other institutions are like fuck, this is going to explode, we're going to get in on this shit. Yeah, of course it again, and I've heard people make that argument of like oh well, blah, blah, while you're against people making money. It's like, no, I'm against people making money in ways that fuck over other people. That as like we're just using what they used against them. Yeah, we're doing the exact say you're you're doing the exact same fucking thing they did. Yeah, there's no difference. and The wild part is there's over three point two million of US set are all on the same pagetly, no, hard that is. It's not like it's fifty dudes like this is as significant percentage of the American population. This is occupy Wall Street on a whole other level. This is. Yeah, this is occupy Wall Street in a way that works. Yeah, as opposed to, you...

...know, tens and a public square. This is this is literally giving them a taste of their own medicine. Yep, and I fucking love every second. It's this is the best. This is and this is chaos. I can get behind it's it don't. The thing is to point about it. It needs all betray that you can actually pull up. Go to yeah, go go to. I'll go to a two. Can you get on twitter right and play video? Let you go this twitter account. Let's see here. That's to tray. Hold on, sorry, right, we're gonna cut here sometimes. Right, you got. You can cut, can't you? Yeah, I can't. I guess you wear this videos at hold on your good. It was suddenly posted it earlier today. It's a great video, but it's kind of like what everything has been boiled down to? Go to apes together, strong DOC is that all one thing? Yeah, okay, they can have that, but our twitter handle can't be the basement lounge. All right, I'm there. You see the video right there, the top, the pin, the one of the very top. It's pinned. There's some missions. Got Us. Yep, okay, watch that. All Right, I'm gonna put it. I'm going to put this in a window on the listen to it too, on the videos my head. Can you hear me? Yeah, okay, yeah, I'm going to put this in the video. Two Line. Let me do this right window. I'm sure screen the ship so we can actually show up in the all right, you see it. Yeah, I got her. Social media platforms like Reddit, Youtube in twitter are leveling the playing field. I always want to say that I support retail investors right to invest in what they want, when they want. MINOS are the amount of capital days. I'm hands support the right of individuals to send a message based on how they invest. I'm gonna do something I never do, that's come out on my shell and talk about how I'm sick of and Justin I don't believe that the story of this community has been told yet from insiders perspective, and I think that's paramount to understand some of the culture and the social dynamics of what's really going on and we're just tired of just survive, not having to work twelve hour shifts. But, as always, felt like you couldn't win. I'm here for my rather, my father and my people. I'm a nobody really. I am a guy who just needs a win because alarming. How do we know about be inner workings of the market, these advanced quart of a larger story about the intersection of Finance and technology? What we're trying to say here is that there are these shares that are just kind of floating around being borrowed and England and land again. We just know that there are more shares out there that the company had red originally issued. I decided I was going to get on Youtube and do some studying and do mind research I like to do all my own villages, Ninety five opening bolt clothing bill stocks and the Stop See, you know, all the new digs which is proud by Alfa Apes Um. I ended up getting...

...diagnosed with a terminal this I've got more love and support from the apes a lot of people that I personally know. I'm looking this for my for myself, but I just want to know, both from the thieves of my well be able to build their own house. Have that. Just want to do the best for my family and my kids. You feel like you're part of this fight. Just makes you feel good, you know, because of this community, because I just move, that we can have each other and become back to the hedge funds that are trying to scool over company, that that we like. Fuck you. Fuck you. Yeah, I know, man, fuck you. That's cool. They just I don't it's just a wild movement. Yeah. Well, in the thing, like a lot of the people, like a lot of people, like I want to pay off my dad, like I want to pay medical debt off, like I want to pay my that's it's all about that type of stuff. Like a lot of people are crazy supportive of everybody, like on the Reddit Post, like people like will post my crate, like people don't put up a racism bashing making fun as Shit, like they just don't like this is what this is what it is like. Leave it all out. But they've been hiring like fucking you pie on Adam are and sting out of Mare's where you'll see like videos of like people hired like planes to fly around with banners that say AMC to the Moon, or we love stock, AMC, we love this. They actually sent one. Citadels the main hedge fun right, that's shorted it. The thing is, citadel. Forty six percent of all orders on the market is a hedge fun. All of them go through citadel. Really, yeah, which is ridiculous. One of the main goals to make sure they get shut down for good because they have too much power. So, like, if you go down, like you see AMC, to those that say to the Moon, says a MC, we're not leaving. Yeah, the best point about that was somebody, they, everybody, put a fun together that was flown in Chicago around Citadel's headquarters. Here's a video of the AMC to the moon one. Yeah, I saw that. I was going one. Damn it, it's going to play here. Sorry, guys, I can't see it. Is this fun? It's just literally like am suits of the moon. There it is. This is the this is got to be Chicago. Yeah, that wasn't sugar. Well then they didn't know that was a was that Chicago? NEW YORK? I can remember Chicago because Scott the the trinangle pop building, recognized that's a Chicago. So and then, what was it? Yesterday, they hired one to fly around Citadel's headquarters in Chicago that said we're not leaving. Huh, because the stock market works like this and I want to sacos up, you sell. Right, because you want to stop dips, you sell. But what US Apes, quote apes, are doing is was stacos up. We buy. When to stop goes down, we buy even more and there's no way to combat that. Right. That's not how the market that's not normal rules of the market. Right. And they like they've done everything, like you can dig in the shit going people's youtube videos, like Matt Corse was on that video we just watched. Also on his youtube video, all of a sudden, out of nowhere, he's...

...never had a half before, all these racial comments just add the fucking blue, like Oh, she's like what the fuck? Like that never happened any of his videos. They actually pay people, remember, you can pay people to go like remember, they're paying like the Russian trollbots. Yeah, they still do that. So like all of a sudden, like one day, like pay. They're paying to like span, this guy with stuff called him stand youtube video, span, youtube channels, like all this stuff. Like. So two weeks ago I was like, Hey, the fight's over. The hedges are too smarter than us. Yeah, so much more small smart in us. We're all selling our stock on Monday right, like all these like comments and like all these like profiles are made within like a couple months of each other, made on the same day. Follow only follow four different pages and they're all about AMC stock and their comment and like all that Shit. You're like, that's obviously that's fake. And then today, no, yesterday it was we're all selling one of them, the best one, like you don't when you go and read it and you see it, you're like this is got to be photoshopped. But when you see it in the actual video, like when you go to the video they're talking about and you see in the comments, like this isn't photo shop, is fucking serious, because it was like almost too good to be true, like you can't be that stupid. And how you're trying to attack a certain attack. And so it was yesterday. I was on a couple on that said, I found my way. I found my I found my way with God. I'm going to sell my stock at fifty dollars. That's enough. Life changing money to pay off some of my debt and all of a sudden, like you had like and the same thing, like at a bunch of comments, like I'm selling at fifty and you're like same thing. Profiles made like on the same day, like trying to trick people into yeah, it's fucking it's it's insane how far people are like will rolling together. Well, it's and the head. They have a limited amount of money, right. They can. They can afford to pay the because all these fucking troll hacker types, you know, or expensive as shit, but they can afford it and not. Yeah, fucking insane, like I'm said there. I'm like, because they're go all this fucking, you know, stock money or whatever, and they're going, they're gonna do it. They have to do it because, I mean, what much you want to bet they're paying some of these fuckers in like these lone stocks? I don't know, that's a good question. I thought as legit. I don't know. It's like it all sounds very conspiracy ask, but then when you like look into you like, I'll be Goddamn, every once in a while, every once in a while conspiracy, trying to be fucking true, yea, like I'm like yeah, this, I I don't believe everything I read on read it, like if I see someone read it, actually like research it. Yeah, and then when I was like you have Google machines in your pockets, Folkus, I'm like, I'll go these youtube videos and I was like these comments are fucking real, like the so obvious. It's it's insane that, like it's gone this far. Oh, it's, and it's still going. Yeah, it's only I when I say we're beginning of the end game. Yeah, I really believe we're in the end game. Now. It's just a matter of like probably the end of the year. I think June is when it's going to end, because the funny thing was they're going to fish release the official vote count, like how many individual shareholders are, on June second. Okay, let me by the end of June. Once that, once that informations out and people, and honestly, I think it's going to start, some of us going to start this. I think it's already kind of already started. Yeah, because we're already half way. I think it acts. When the interest rate popped up like that, we were like, I think what Adam Aeron did too. I think they purpose did the five hundred million dollar shared dilution. Threw that out there, knowing that they'll triple and up, double tripled down on their short positions, holy shape aims like and I think he knew that the community... strong enough to hold because a lot of the people have there in the community. Like at first, when I like read into it, I was just like a buddy bought into. He lost like Twentyzero outcause he bought like top Pie. Yeah, and then when Robin Hood did, all got all their shit like stop people from buying shit. He he any thousand, like twenty grand. It was like ridiculous. And then like I was like I'm just going to look into this, and then I started researching. I was like okay, like he bought it on the hype. Yeah, I'm buying in because actually, like this is what's going to happen. Yeah, it just you have to be patient, and some people a lot of people don't have patience, but everybody, like redd, it's making it to where everybody is like patient, like we get it, especially nowadays people. You know, we live in a worldward tick tock is the most famous APP because it's short attention span. Should people don't have that level of patients. They want instant gratification of the stock market. Is Not that kind of game. That is it. That is a patient person's game, and that's why I think, that's why I think a lot of these guys are able to get away with the ship for so long. It's because our our generation, doesn't like to wait for Shit. And but the same way that we're all kind of find the wagging up to the idea that our form of capitalism doesn't fucking work anymore, they're also figuring out like, Oh, if I just wait, this shit could pay off and dim it at all. It's this is gonna pay. I told my I turned my wife. I was like turn a, Melissa. I was like, I mean it, if it goes down to five bucks. She's like, I don't care. As she's like I believe, I believe. She's like, I believe what you read. I believe you've done your studying right. I like, I really believe it's going to take off. Like I don't. It's not. This isn't matter when, and I think it's an it's literally inevitable. It's just sec in the DCTCC are putting now all these rules in place to make sure everything goes smooth. Well, also mean you guys, unlike, because there's a lot of people who play this shit and they get in way over their heads. Yeah, you guys, at least I know you well enough to know you're smart enough to not go in so far to where, if it does go short, you're gonna get fucked over. Yeah, and I like there are people who like quit their jobs over this shit or or spend more than they have to spend. And you know, but like you and your wife both work and you're smart enough to figure this shit out. You're smart enough to figure out the best way to not spend too much money on this shit. So there's a lot of people who aren't that smart, who were going to Overdo it and overindulge. But I thing is just like a lot of the people love people a bought stock, have been there when I was at like the initial thing, you know, I was like twenty and then went all the way down the five. All of these same people are still there and it's like you're talking about millions of people. So they don't give a fuck because, like I think I said, like I said, part we have nothing to lose. Yeah, but everything the game. If I can pay off my wife student loans, no shit, Holy Shit. Also into the build for mine. You know, I've already decided that if it takes off to our thing, it's going to take off. I'm going to play put like ten to Twentyzero donated to children's are donated to some type of charity, as on the which one. Yet I really firmly believe it's going to take off and I I think it's been more worth than a thousand dollars to share. I think you're looking at five to TENZERO dollars a share. Holy Shit. I really truly believe unless the government stumps steps in, that's the only thing that's going to stop it, because there's this that many fake shares right and I don't even know what kind of power they have over that sort of thing, because the govern but the DCC's created. There's DCC, they're created. What happens if a hedge fund gets margin called and then they have to basically liquidate all their assets just like come up with like a winning one or money? DCC's obviously like they have like sexty nine trillion dollars to pay out,... they have that as like as something more to happen. BRILLION with a tea. Yeah, they have the ability to pay that money. A lot of that money, a lot of that money is already in stocks. So what happens is the computer goes and it goes to a computer. The computers like okay, like Hey, we buy these stocks. This person selling at three hundred, okay, and it just does automatically. There's no rhyme or reason to it just does. It goes up a ladder, up of up and what on, matterer. So if there's like five times the amount or four times the amount out there that are fake, every stock is be bought back. So it's like, okay, this person some for three hundred, okay, so I have to buy that mole shares at three hundred stock. If somebody literally has a set like a hundred thousand, and the computers like, okay, we have to buy because that person has that, they have to buy it back. The computer has to buy it back at a hundred thou Jesus think there's no because we already know there's double the float like that. We know that for facts, right, and when the stock, and here's the crazy part. So when a stock it's bought, when it's bought that certain price, it raises all of the stock, the price of the stock. So and you have option calls. Will option calls. Every single week there's option calls, like if a stock finishes over this price, they getting money off that. You can buy. What happens is you can on option calls. You can buy let's say that, like you thinking a stock is going to AMC will be over at ten dollars and fifty cents next week. Right, so you can buy an option. It might cost you three hundred dollars to buy that option because basically three dollars a stock, because you can purchase that. This this is actually really hard to explain. Each option call you purchase is a hundred stock. So you can go, okay, like I want to purchase option calls for ten and fifty cents. AMC's going to I think AMC's going to be over that. Basically, you put three hundred dollars, you put down three hundred bucks, right or whatever. I don't that's just a random number made up. But let's just say if it goes up to let's say the squeeze happens in the stocks actually, like now five hundred stock, but you purchase an option call for ten dollars for the cents. So now all those hundred dollar stocks, you purchase all that, all those hundreds of stock, that hundred stocks for three hundred bucks, but now it's worth five thousand, like five thousand dollars, and that causes because now there's purchase of those stocks, that causes it to go up even more and more and more, and it is a constant thing. Jesus Christ, it's literally called it's it. It boils down the one people want to sell. Right. That's it. There's a there's literally I don't think it is a feasible it'd be awesome. There's a there's a thing in a lot of people think, like some people want it to be a hundred kid. The the floor is a hundred thousand, like literally, we're not going to sell the stock unless you goes a hundred thousand for stock, which there's been times to wear not a hundred thousand. But there's solar stocks a squeeze like thirtyzero Shit. So it's like one of those things that you're just like okay, oh my God, and they're just the rampifications of this. Are All market's going to crashund yeah, well, you know the big short right. Yeah, you see that? Maybe? Yeah. So, so, Michael Barry, it took him two years. Yeah, he did that, he did his research, he placed that bet. It took him two years to get his I mean to wear it hit like it just it's all about patients. Yeah, so I'm excited, but you guys did think you'd been learning something today. I'm I'm sound so super excited about that. All Right, folks.

That'll do it for this week's episode of the Basement Lounge. If you want to follow US Online, you can follow Mike Wells on twitter and instagram at Mike WTF Wells, and you can follow me, Mike Shay, at Mr Mike Shay, on twitter and Instagram as well. You also follow this show on twitter instagram at tbl underscore pod, and we got a brand new website under construction for you guys, with some cool new stuff coming down the line as well, so stay tuned for that. In the meantime, we'll cut you guys again the next week with another episode and until then, as always, live well, rock on, take care, and Bub bye.

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