This is not our typical subject matter but because this strikes so close to home and the crypto philosophy, I can't help but post this. Posting on behalf of our parent brand, MoneyRedPill.com.
This is not financial or legal advice*
There’s blood in the streets and it’s time for action. We now realize the flawed approach that undermined the “Occupy Wall Street” movement. As citizens of a sovereign nation-state, it is everyone’s societal and personal responsibility to stand for what is just and right, and what we have witnessed this week is the most deliberate disregard and manipulation of so-called “free markets” in recent history. This is not a single-nation problem, this is global. There are 7.674 billion people on planet Earth; this affects 7.673 billion of you. This is a three-pronged offensive that will leverage legal, financial, and social actions. Here’s how you can do your part:
PART 1: LEGAL COMPLAINTS
First, we’ll fight them at their own game. The system is rigged in their favor and has been for some time, so we’ll exhaust every possible vector possible within the legal confines of the system. (See how that already seems futile?)
Submit a complaint to the SEC here. (Securities Exchange Commission).
Here is all the information you will need:
Tell Us About Yourself
Enter your personal information.
Tell Us About the Firm or Individual You Have a Complaint Against
Robinhood Financial LLC
Broker-Dealer
85 Willow Road
Menlo Park
CALIFORNIA
94025
UNITED STATES
Tell Us About Your Investment
Equity Security
GME
GameStop
Tell Us About Your Complaint
(feel free to use the below complaint description or write your own):
“On January 28, 2021, I and millions of other retail investors, were blocked from purchasing (entering new buy orders) on the Robinhood platform, without notice. This clear example of market manipulation has forced the stock down from over $500 in after-hours to less than $300 as of this writing. Meanwhile, hedge fund interests are NOT blocked from buying the shares being traded and the lower price obviously benefits them.
We retail investors have followed all the rules and finally stood to gain a LITTLE bit from Wall St and they suddenly change the rules "to protect" us. I am requesting you use your subpoena power and regulatory authority to examine whether Robinhood colluded illegally with any other actors who may have held short positions on these stocks to reduce the number of buyers for $GME and therefore deflate the price. This is market manipulation.”
2. Submit a complaint to FINRA here (Financial Industry Regulatory Authority).
click “File Online Complaint.”
Say this:
“Section 13 of FINRA's prohibited behavior literally states
"13. Using manipulative, deceptive or other fraudulent methods to effect a transaction in, or induce the purchase or sale of, a security." if literally forcing you to only sell your position isn't considered this then I don't know what is. I'd cite that in my complaint.”
3. Submit Company Complaint to your Trading Brokerage
The following brokerages have either restricted buying or completely stopped any trading of certain stocks including $GME, $AMC, and $NOK.
If you use any of the following investing platforms, you can submit an internal company complaint in addition to SEC and FINRA complaints:
eTrade
Public
WeBull
Interactive Brokers
4. Submit Complaint for Consumer Financial Protection Bureau
Use the above template.
SUBMIT CLAIM FOR ROBINHOOD CLASS ACTION LAWSUIT HERE.
CALL REPRESENTATIVES - FLOOD PHONE LINES:
House Financial Services Committee
#: (202) 225-4247
Say: “I demand a hearing on market manipulation from online brokers.
2. Call your local representative (find here).
(There is precedent for consumer advocacy in this space)
Feel free to say the following or whatever you want:
“Good morning, my name is __ and I'm a ___ constituent.
I'm calling because as of [this morning/yesterday] I and millions of others were blocked from purchasing new orders on platforms like Robinhood. I bought in yesterday of my own will, knowing the risk, wanting to let this play out and the fact that these platforms because of their manipulations and fear are stopping our trades from being executed after they promised to deliver services is unacceptable.
This clear example of market manipulation has forced the stock down from over $500 in after-hours to less than $300 as of this writing. Meanwhile, hedge fund interests are NOT blocked from buying the shares being traded and the lower price obviously benefits them.
We retail investors have followed all the rules and finally stood to gain a LITTLE bit from Wall St and they suddenly change the rules "to protect" us. As your constituent, I ask and demand that you use your power and regulatory authority to examine whether Robinhood colluded illegally with any other actors who may have held short positions on these stocks to reduce the number of buyers for $GME and therefore deflate the price. This is market manipulation.”
Call your Attorney General
Feel free to say the following or whatever you want:
“Good morning, my name is __ and I'm a ___ constituent.
I'm calling because as of [this morning/yesterday] I and millions of others were blocked from purchasing new orders on platforms like Robinhood. I bought in yesterday of my own will, knowing the risk, wanting to let this play out and the fact that these platforms because of their manipulations and fear are stopping our trades from being executed after they promised to deliver services is unacceptable.
This clear example of market manipulation has forced the stock down from over $500 in after-hours to less than $300 as of this writing. Meanwhile, hedge fund interests are NOT blocked from buying the shares being traded and the lower price obviously benefits them.
We retail investors have followed all the rules and finally stood to gain a LITTLE bit from Wall St and they suddenly change the rules "to protect" us. As your constituent, I ask and demand that you use your power and regulatory authority to examine whether Robinhood colluded illegally with any other actors who may have held short positions on these stocks to reduce the number of buyers for $GME and therefore deflate the price. This is market manipulation.”
PART 2: SWITCH TO A DECENTRALIZED SYSTEM (BITCOIN)
Central banks, hedge funds, governments, and even regulatory agencies collude together to help each other game the system in their favor at the expense of individual investors. At this point, it’s clear that they don’t want to even attempt to try to level the legacy system. So let’s switch to another system.
One that lets us buy, sell, trade, and directly hold our own assets at any time as we see fit. Good news: this system already exists. Bitcoin was created in 2009 in direct response to the 2008 Financial Crisis in which central banks and hedge funds received record government bailouts - the same banks and funds that are deliberately manipulating the markets today. Bitcoin (and most of crypto) is decentralized - controlled by noone. It has no central authority, owner, advisor, board, operator, influencer, or government. It is controlled by miners on the network all over the world.
Your funds are as safe as you keep them (you should personally store them). They cannot be frozen or taken from you if you hold onto them. The only way to stop Bitcoin is to turn off the internet for the entire world, and even that might not be enough. Banks cannot take them from you. They cannot be frozen. Nothing or no one can stop you from buying, selling, or trading them.
So what can you do? Buy Bitcoin. It doesn’t matter where you buy it so long as you buy real Bitcoin that you can transfer into a private wallet. That means no traditional investing platforms such as Robinhood, WeBull, Interactive Brokers, TD Ameritrade, etc.
Disassociate from guilty investing platforms.
Withdraw cash (e.g. transfer funds from Robinhood to your checking account)
Transfer assets to another broker (e.g. Robinhood -> Vanguard, Fidelity, etc.)
Delete account (account MUST be deleted)
Uninstall app from phone/computer
2. Buy Bitcoin:
(The point here is you don’t buy a little once and be done with it. We are switching to a new system. Cash has devalued over 95% since 1921, whereas Bitcoin has increased ~200% per year since its conception in 2009. You want to trade as much of your rapidly devaluing cash for Bitcoin as possible. But it’s less about the money. It’s about having absolute control over your money and assets, whether they’re cash, stocks, bonds, cryptos, precious metals, or anything else. Then you too can operate in a truly free market without fear of manipulation by central banks and hedge funds.
Create a personal wallet
Create account with Coinbase, Gemini, Kraken, Binance, Kucoin, eToro, Crypto.com, BitStamp, Uphold, etc.
Deposit fiat (cash)
Buy Bitcoin (yes, you can buy a fraction of one!)
Withdraw Bitcoin off-exchange to your personal private wallet (from step 1)
PART 3. SOCIAL MEDIA BOMBARDMENT
Tweet @ the following regulatory figures to pursue regulatory legal action in this matter:
@NewYorkStateAG
@AGBecerra
@chopraftc
@FINRA
@SEC_Enforcement
@ your state’s representative
Last but not least, hold strong, comrades. And always remember: there is strength in numbers.
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