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admitted to market manipulation death spirals and naked shorting kenny admitted to using the boston consulting group to spy on other hedge funds having them on the payroll and coverage on him performing death spirals by excessive naked shorting so the first link says griffin is always on the lookout for talent last year he hired a team of consultants from bcg or the boston consulting group to collect detailed information on his major hedge fund competitors in hopes of understanding their strategies and poaching their best people and when the news broke last october for the successful hedge fund vinik asset management which shut down griffin was in boston 48 hours later interviewing vinnick traders and that link was taken from an article titled boy wonders which was posted back in august of 2001 which is obviously a long time ago but ken griffin still employs these exact same practices even to this day there was also a separate article or a separate tidbit with a piece on leveraging and how it was considered outrageous even back then it says griffin uses one old-fashioned hedge fund technique to generate his returns which is plenty of leverage citadel delivers its stock position a steep three to six times now obviously back in 2008 this was as high as seven or eight times to one and now right now in 2022 is also right back up there at 6.5 to 7 times to 1.
and it also says that one variety of these convertible securities that citadel uses and abuses is known as death spirals it has no flaw on the conversion price and has become increasingly controversial it says these securities get their name from the combination of the investors right to shore the stock and the right to reset the conversion price which creates a potential incentive for holders of the securities to push down the price of the stock so these convertible securities aka death spirals are exactly what citadel and ken griffin hold on amc and that's what gives them the benefit to push the price down of amc further further and it also even gives him the incentive to hold shares in the underlying company ak amc because these convertible securities give him the right to reset the conversion price so that he can actually convert the shares that he holds into a fixed cash amount and back in january 2001 in providence rhode island a telecommunications company logon america actually sued credit suisse first boston and two funds controlled by citadel charging that they had caused the firm's stock price to collapse from 17 per share to less than a dollar by engaging in short selling after buying death spiral converts now it's very very obvious that citadel could very well be using these death spiral converts even to this very day in stocks like amc gamestop and many others but i think what's most worrying of all is that back in the year 2000 citadel was actually investigated on the suspicion of the mistaking positions and actually mismarking positions that they held to produce unrealistic returns it says in 1999 after the firm finished up 45 rumors began circulating that the hedge fund was mismarking its positions aka mismarking short sales as the selling of long stock to generate these kinds of outsize returns intent on ending the speculation citadel which has been audited by arthur anderson aka the same guys that audited enron commissioned an additional independent audit of all of its thousands of positions by a different auditor now obviously this independent auditor didn't actually find anything wrong with citadel mismarking its positions but at the same time we know that the investment industry and the accounting industry can be equally as corrupt sometimes and now interestingly enough even fidelity doesn't want to be chained to bank of america when the default starter domino and if you didn't already know bank of america is the prime broker for citadel securities so fidelity have made some changes to their fdic in should deposit suite program by introducing a new money market mutual fund overflow component so this new component becomes active on the 30th of june 2022 so in a couple of months time it says this component provides that for customers who use the program as their core position in the event that cash balances cannot be swept to a program bank aka bank of america because of either a lack of bank capacity or the unavailability of fdic insurance the funds will instead be swept to the fidelity government money market fund so basically if your funds can't be swept to bank of america due to either a lack of bank capacity aka bank of america going under or the unavailability of fdic insurance aka because bank of america have done something sketchy fidelity will sweep it into a separate overflow account now this is obviously good that fidelity are protecting customers in the event that bank of america cannot receive the fidelity money aka because bank of america goes under but it seems interesting that fidelity are making this change right now which is to be implemented in only a couple of months time and as hyper says this could suggest a potential bank run is coming and meow said it would be a shame if a large percentage of bank customers pulled out all of their liquidity obviously if there is a run on the bank where tons and tons of investors or depositors withdraw their money from bank of america it could very very possibly end up with bank of america going under and i also wanted to talk about why this is becoming ever more likely and how the manipulation is becoming more and more evident day by day guys if you didn't already know moomoo just increased their offering of three stocks to six free stocks valued up to three thousand five hundred dollars each that's a total of up to twenty one thousand dollars in free stocks just for signing up with moomoo mumu and future have also officially announced that future does not accept payment for order flow and therefore you don't have to worry about your trades going through sketchy dark pools or being given to citadel moomoo was also recently given the award of being the best trading platform at the fintech breakthrough awards moomoo is incredibly easy to use it's very customizable and it will help you to trade like a pro memo also has tons of technical indicators and advanced charting tools moomi publishes daily short selling data position cost distribution and much much more so guys be sure to send it to moomoo twenty one thousand dollars in three shares so simulation tweeted saying what changed since the hulk back on tuesday amc lost half of its value down from thirty four dollars per share down to seventeen dollars per share with ease algorithms are running the market and kringle says i just checked back in 2019 and amc didn't even drop 50 over a two-week period even though theaters were shutting down during the pandemic in early 2020 so amc is currently dropping faster even faster than amc did back in march of 2020 during the pandemic as a result of all of this blatant manipulation now i actually spoke about this a little bit earlier in the discord which you can join using the link in the description below i basically said that as liquidity is drying up and as fewer and fewer trades are being made on a daily basis not only in amc but in the wider market as well even small movements or small share buying in amc is having massive price impacts in only a few days of 100 plus million shares traded for amc the price obviously ran from 13 per share although out to 34 dollars per share and the algorithms had well and truly lost control until they halted and smacked it back down on that faithful tuesday a few weeks ago i think these algorithms are absolutely desperate at the moment due to this reducing liquidity in this current liquidity crisis it basically means that even when a small chunk of shares are purchased the algorithms are really struggling to keep the price down because there just aren't many shares being traded back and forth on a singular day i think as liquidity continues to dry up week after week after week going forward the algorithms are going to struggle more and more and more and are going to end up losing control and i think if you look at many of these companies recently like google nvidia microsoft and many others they're all starting to rival back on these january february and march lows and i don't think it will be long until these overly large companies take out their march lows and the market crash continues and liquidity dries up even further and as gold telegraph says commodity margin calls pose a macro economic risk and that comes directly from the dallas federal reserve the tweet says remember the london metal exchange recently said it doubled the size of its default fund and inventories have been plunging even further and therefore if there's a bunch of margin calls taking place on commodities traders it's going to push the commodities market and the overall stock market down even further potentially triggering that stock market crash i think considering all these companies like google are basically rivaling back on their january lows i don't think it'll be long until these lows are taken out and the market falls even further i also want to give a quick update on elon musk's acquisition of twitter as the twitter account wsb chairman tweeted saying the twitter board excluding jack dorsey owns only 0.12 of twitter as a company which is around 77 shares he said they've not only behind closed doors rejected elon musk's offer to purchase the company 20 above market value but they've also threatened to dilute their shareholders stake in this company and he said they've not only behind closed doors rejected elon musk's offer to purchase the company 20 above market value but they've also threatened to dilute their shareholders stakes in the company which could be evidence of criminal negligence this excel spreadsheet shows the ownership of twitter by each individual director on the board of directors over there at twitter and obviously if you exclude jack dorsey the ownership percentage is absolutely minuscule especially when compared to elon musk and to vanguard and blackrock he said it's almost like they're acting in the best interests of their careers instead of the financial interests of their shareholders which is the board's legal responsibility either way he said it's pretty entertaining to watch now i think considering these directors own such a small percentage of twitter they're obviously acting in their own best interests when running twitter as a company not in twitter's best interest itself obviously if you do want to act in the best interest of your company you behave like ryan cohen and buy up more and more shares of your company and set rules to prevent current directors from selling their shares this means that individual employees will work as hard as they can to grow and improve the underlying company and as rocket astronauts said did elon musk just expose a board that isn't actually benefiting their own company but could even be shorting their own company that they currently work for it would be very very interesting to see if the border of directors over at twitter actually holds short positions on the underlying company itself the board of directors are obviously not pro free speech they're trying to censor twitter and they're obviously trying to destroy the platform further so it wouldn't surprise me if they're benefiting from this financially by actually shorting twitter itself as james pointed out one of twitter's board members has actually never logged into his twitter account imagine a comcast board member who's never even seen a television for one of the board of directors over at twitter to not only not use twitter but to have never even logged into his twitter account it just goes to show how actually useless these directors really are the twitter director robert zolek has zero tweets zero likes and therefore does not care about twitter itself and is very very out of touch with the underlying company and elon musk may have just unveiled his plan b by tweeting the lyrics saying that he loves me a tender as rocket astronaut points out a tender offer is a public solicitation to all shareholders requesting that they tender their stock for sale at a specific price during a certain time therefore elon musk can ask all of the current twitter shareholders if they'd like to sell their shares at 54 per share or above and elon musk is free to swoop in and buy up all of them the tender offer is typically set at a higher price per share than the company's current stock price providing shareholders a greater incentive to sell their shares i think many current shareholders realize that if they don't sell their shares to elon musk for this higher price then it will show just how corrupt twitter is as a company and the stock will likely fall to nothing and end up going bankrupt therefore this could be the one chance for shareholders to sell their twitter stock at a higher price than the current share price and basically a price higher than zero dollars per share this isn't the case of a takeover attempt the tender may be conditional on the prospective buyer being able to obtain a certain amount of shares such as a significant number of shares to constitute a controlling interest in the underlying company i personally think this is definitely elon musk's plan to buy up more and more shares and hold over 51 of twitter to basically do so as he pleases with the underlying company i think this is basically the only way that twitter doesn't get exposed as a massive corrupt vehicle to censor the us and the world's population and this could basically be the one chance for twitter to actually survive as a company and not lose out its entire market share to other platforms like instagram youtube and many others that are currently out there at you think about ken griffin admitting to market manipulation and how he shorts companies using those debt spiral convertible securities put a new video cheers
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