Transcript
Speaker: Hey everybody, Manny Cray here, starting things off a little bit differently than normal. I wanted to take a moment to acknowledge the incredible insights my guests always sad but truthful brought to this episode. Their knowledge genuinely changed my perspective of the GameStop saga, and our conversation both recorded and off the record not only left me feeling informed, but transformed.
Speaker: and to the point where I've taken additional precaution. I've deleted all the content I produced on both X and on Reddit, and I'm going through the final stages of deleting those accounts completely. That has been an absolute gut punch for me. We're talking five months of content that I'm still very proud of, and it stems from this dedicated obsession. The intent behind these actions is to manage new X and Reddit accounts with added security.
Speaker: This is a precautionary move, I don't have any incriminating information, and my guests didn't share anything that isn't publicly available. What I've realized is that GameStop, this story, it goes many layers deeper than I ever could have imagined. As a new enthusiast who didn't start obsessing until June of this year, it was all about laughing at memes, solving cryptic riddles, and laughing at hedge fund billionaires losing money.
Speaker: The deeper you go on GameStop research, though, the more light that is shed on powerful entities pulling levers to avoid losing billions of dollars. And thinking about it from that perspective, it was a no -brainer to add an extra layer protection start over. Why not, was my thought.
Speaker: That said, this is where I'm starting to clash into all the incredible deep research that already existed over the last three years. It's all already out there, and all of it has been consumed by the masses, which is enough security for me, but hey, what's an extra step for safe measure? All that said, I hope you enjoyed this discussion with always sad but truthful. You have to check out the Reddit content.
Speaker: Their posts about the GameStop swap. Those theories are incredible. And the 2021 Credit Suisse are my absolute favorites. You also have to follow them on X at It's Always Rains. And now to the interview. This is completely unedited, and the only alteration is long pauses were automatically shortened.
Speaker: As always, everything here is for entertainment purposes only. There is never any financial advice, and both myself and my guests would agree that we could be nut jobs, and we could be wrong about everything. I hope you enjoyed the show.
Speaker: a a a give the shit in the shit day give the shit like a for shit mag for she so she for she mag she a mag a magn a for mag a Hello, hello, everybody. Welcome. We have an incredible episode of Magnificent today. This is Manny Cray, your host, my persona. um And things are great. I mean,
Speaker: GME just blasted into the 30s today. And I said this on the last episode. I said, hey, open invite to all GameStop community members. We'd love to talk to you all. I have a legend.
Speaker: ah The first guest um on the show you're here with me today, we've got the legendary, always sad but truthful, um at its always reigns on the X. Incredible, he's been doing a ton of research for the past three years. He has a very compelling thesis that I'm really looking forward to speaking with him about. ASBT, welcome, you're on the magn Magnificent Show. What's up, buddy? What's up? How are you?
Speaker: What's happening? I'm doing great. How's your vibe today? You like in, you like in that price action today. Are we done? Are we done? It's hit 30. Jimmy's at 30. We're going to pack it up this morning at like 8 AM. And I was like, we cross 30. As far as I knew that was the big deal. I left for a few hours. I come back and I was like, Oh, it crossed 32. Oh, okay. Uh,
Speaker: I think it's going to be an interesting couple days until the beginning of the year, like the anniversary of the big day. I think it's there's a lot going on institutionally in the background that we cannot see. um And I think and and we're at a unique point in time where there might be some unexplainable circumstances.
Speaker: Absolutely. I think that's really well said. I'm doing this thing every day where I'm going back in time, four years GME on this day in history, and it's kind of teaching me about that first run up. And I'm kind of seeing some of these things play out again, but kind of what you're saying too.
Speaker: um there There's definitely a lot of things going on behind the scenes, like we're aware of the PSA partnership, Nat Turner joining the board and how that kind of lead to certain things. But Cohen's track record, um certain things he did with Chewie were kind of, I don't have any specific examples, but I read about how he announced certain key moments in Chewie's history that's blindsided and surprised the competition. So I'm excited to see what the hell he's got ah cooking for GameStop.
Speaker: I feel like we've been waiting for that for quite a while. What's your entry date? Entry date. So for me, yeah. So for me, I'm i'm newer, newer to the GameStop saga. um I was aware of what was going on in 2020. I was fascinated, didn't know too much about it. Frankly, work was insane for me. I was kind of on the other side of things where I was working like 80 hour weeks. Covid was just nuts for me.
Speaker: So I knew about it enough. And then it got on my radar. Keith Gill, Deep Fucking Valley, Roar and Kitty came back into the fold. He had that live stream. I had to watch it. It was entertainment. I started looking at his memes. Those were funny and entertaining. And then I saw the ah cryptic riddles and I had to solve them and sucked me in. I had to do all the research and spend countless hours trying to understand it all. So here I am. Now I'm now I'm dedicating a podcast to it.
Speaker: So not nearly as um you know involved in the history as if you as you have been, which you entered, was it short like right around 2021 earlier? ah I bought in during the squeeze. ah My first shares were like almost 400 bucks.
Speaker: we shit yeah they were like three eighty three or something crazy i got four of them for one of the I have a spreadsheet where i'd um I copied and pasted the transcript. He has 63 live streams. And I pasted the transcript of all those live streams into my own spreadsheet. And I can search for keywords, and I can read through each live stream. And I try to chip away and watch. When you have time, just play them on the background.
Speaker: and just hearing him. He's very charismatic, so he's ah he's an easy listen. um And I feel like he does question his own thinking in a proper accord to where it's like you get to learn the way that he thinks and the way that he approaches and how he analyzes. And if you're going to play the game, to hear it directly, not from words and things, but to spend the time just listening to him like he's a podcast.
Speaker: there's a valuable treasure in that because what you're doing is absorbing the algorithm of how another person thinks and when you if you're going to want to play this game and play it appropriately you're going to want to have insight into the algorithm Yeah. Yeah.
Speaker: it's essential it's important I absolutely agree. Not just that, but you also learn how to evaluate very appropriately. That guy is a masterclass in how to do deal with things properly.
Speaker: That's an understatement. Absolutely. I mean, he's taught me so much. I am not an investor myself. I mean, I've learned a lot. And I think what I've learned the most is I never want to invest after the story unfolds ever again, just understanding how manipulated everything is. um But I know I am definitely with you. I've watched a lot of um The live streams like clips bits and pieces, but I need to go one by one and get get through them I mean it's a lot of what lot there four to seven hours of content across six or three lines Go through it when you have time just like starting on Joe Rogan's podcast or starting on kill Tony or anything that's got 800 episodes You just start the beginning
Speaker: Uh, his first three episodes are really good breakdowns of how he sets up his spreadsheets, what tools he uses, what he's looking for. Um, maybe a couple hours worth each, like two or three. It was really a light in the beginning. Um, and then after that, he just kind of opens up his portfolio and just starts reviewing his picks, looking at prospects. And he just, he does the thing, you know,
Speaker: ah Yeah, yeah, I it's gonna cool when I showed up. I didn't know anything It was a long adventure. I've never bought a stock. I'd never invested I never even thought about doing that But my little brother had let me know said a broken arm and I was around family's house at the time He's like, you know, there's something going on the game. Stop. There's a short squeeze. I'm like the hell's the short squeeze like There's something going on ah Look into it read. It's going crazy. There's a bunch of people talking um And but essentially, I got the stimulus check on the day of the squeeze. I walked to the bank, opened a bank account. They put credit. I bought the stocks. And that's when I got in on that day. And immediately, I think in like the next day or two, it went straight to 40. And that was my entry. I was like, oh, OK. Cool. Buy it for 400. It goes to 40. I get it. All right. Now they got me. Yeah, you got me.
Speaker: shit As time went on, it was a long time before I even knew Roaring Kitty had a Twitter. ah I was hanging out and I started to join all the Wall Street vet discords because I wanted to learn stocks. I wanted to learn how to research my company that I bought. Like, how do I learn to do what I'm doing? Do I want what I bought?
Speaker: How do I know if I want it? I got to actually learn. ah So I became a um technically after being around, I had a level head and I became a moderator on like 14 Wall Street bed discords. Pretty much all of them. I was everywhere. Oh, shit. Yeah, I was red pill. So so yeah, so before, I mean, obviously now that you can't even say anything GameStop related on Wall Street Bets. So you were there. You were like the history of that before that.
Speaker: yeah I was there as it kind of unfolded. I mean, there were people in Wall Street Bets who have been there many years before I showed up. I'm a new cat. I'm a 2021 baby. There's people who've been in their DFE as well. Been in there for, who knows, probably 10 years prior, you know? yeah that Wall Street Bets been around a long time now. It's a really foundational little society of wolves over there.
Speaker: Yeah. Absolutely. Everybody's trying to rob each other for their 10 bucks. It's the most hilarious thing to watch when you really figure it out. You're like, man, this is, you seen the wall for wall street, the trading floor of the wall for wall street. That's it. That's wall street bet. But they gave them a subreddit. They're all in to rob each other. It's freaking hilarious. Watch.
Speaker: They are all very passionate individuals, that's for sure. They have the thesis, they challenge each other, they're proud of their losses, just as much as their gains. It's incredible. Well, that's because they're all creating on credit anyway. It doesn't matter if they lose it all. Crazy guys. The rest of us, we're so poor, we're like, we need this! That's it. like I got a house project.
Speaker: Oh, my God. That's incredible. What's it like being a moderator? No, it's I mean, you have I feel like you're just taking the community on your shoulder and you end up yeah it's a decision to kind of be a white knight to make sure that the rules and the things that threaten the existence of a community are followed. And that's it.
Speaker: I mean, I'm, I'm from the internet. I believe people should have freedom of speech as long as they're not like harassing or targeting people. Yeah. So that's it. It's I'm, I'm old school anonymous man. Like I was like, I'm from the internet, you know, sixth grade. I had to jolly Rogers cookbook. I was always doing PBS dialups. Like I'm from the internet. So to watch all of that old to where we are now.
Speaker: where it's the internet showed us stocks, and then you go to look at stocks. Hey, here's Michael Burry. This ties into 2008. Why did Burry buy GameStop? There's so many levels to this game, bro. um i know I feel like to really take a counter stance and try to direct your conversation most appropriately. Let me ask you.
Speaker: In your adventure of education, what's the farthest and most appalling thing that you've come to learn so far? Even going through my research and everything else, what takes the cake for you?
Speaker: Yeah, I yeah, I don't want to steal it because I mean, you have some incredible insight here. But for me, it was I went back. I mean, I went went back to Burry. I didn't go back further than that. And I even listened to you. You went back as far to trademarks, GameStop trademarks in the 80s. So you went deeper than I did. But I know Burry, the big short, his success there and how that paid off and just how he is as a value investor. And he saw value with GameStop. He tried to direct the board um to pursue some buybacks and return value to GameStop, which is when he hit his target, um it was right before the squeeze, I think, and correct me if I'm wrong, it was somewhere right around 10 bucks.
Speaker: But he pulled out. He thought GameStop reached its fair value. I'm out. I'm on to my next venture. Fast forward four years now. Keith Gill has just as much money as him, which is insane. Allegedly. I'll say allegedly. I guess unconfirmed.
Speaker: um But just understanding that, understanding Cohen's journey and his vision with Chewy and what he brings to GameStop has been fascinating. And I think what has been really eye opening to me is I didn't know anything about the stock market. So understanding how um technical traders work and patterns, the idea of patterns to me just didn't make sense. How could, you know, you look at something on the hourly, you look at something on the daily, the monthly,
Speaker: these patterns, it just doesn't doesn't make sense that you could predict share price movement. But then understanding all these other entities that are involved in the mechanics of the stock market, um, you know, from hedge funds, institutions you've got, and then got all these other levers that you can pull when, when your hedge fund shorting a stock layer upon layer. apart It's insane. Yeah, yeah exactly. As you learn all of the different institutional players, you come to understand the casino scene and the big short.
Speaker: where they say there's bets on bets on bets on bets on bets on bets that's because there's players on players on players on players yeah yeah and you've got all swaps making completely worse bro because you have things interconnected in the background that aren't shown to us in a prevalent manner and when you really understand those that's did you end up reading the game stop swap DD No, I did not. I have to. Oh, buddy. This would have been a whole different interview because I finished very research. What Barry said was that the 2008 mortgages are backed up by faulty loans. yeah He wasn't highlighting the mortgages. He was highlighting the loans. And when you look at that loans come from underwriters.
Speaker: Yes. These are underwriting agreements from the banks that finance these propositions in the first place. And when I took it far enough to go not just into residential real estate of OA, but ah the 2000s, like The same underwriters are doing strange things in commercial, but they backed up the 2008 bubble with the commercial real estate. Now if the loans on residential are bad. Why wouldn't they be bad on the commercial?
Speaker: That part, they are bad. There's a bubble, but still in our economy of 2008 that has not come to you yet because they backed it up with commercial.
Speaker: And because that bubble is existing right now, we're watching commercial interest rates go through the moon. This ties directly to game stock, because at the same time, when they needed to come up with liquidity to come up with how to create leverage for the positions on the other side of this trade, so it doesn't fall apart.
Speaker: They started to not just short everything, which per the everything short, 2008, they shorted the treasuries, the companies, the stocks, the bonds. They shorted everything. When it comes down to Archegos, what they were ending up doing was shorting things, swapping the shorts, not the shares. They were swapping the actual options, but they were redeeming these share access rights from ETFs.
Speaker: They never actually own the shares. They're just redeeming ETFs, creating options, swapping it out, dark pulling the swap to multiply it. And you have an infinite short.
Speaker: and that's yeah what i learned in gamestop aangos taught this with the aa ghosts leak i'm i'm the only person in the whole community that showed werere the credit swiss brazil five hundred thousand think its cla and thousand put i showed where they come from mathematically improved it they came from arc Which is insane. That scheme was created in 2013 by Citigroup um and Citadel, which are the same savers of Apex come 2021 with the SPAC of Northern. I'm so giving you so much information right now. You're going to have to go back and take notes. Mark my words. No, for sure I'm glad this is being recorded. Northern Star Trust.
Speaker: was the SPAC that they gave AMC. AMC costs and GME were 90 % of the margin collateral issue for APEX in 2021 when they almost went bankrupt. Citadel pretty much merged APEX with a SPAC company. Citadel a Citigroup was the manager for this and this all goes into why they also introduced the APECOID.
Speaker: um is that these are all part of the swap situation of them coming up with liquidity schemes. It's a really deep mesh net of things, bro. It's taken me probably two years of my life to really learn how they are hacking the finance network.
Speaker: Yeah, and I'm very green on my journey with that, but it's crazy. I mean, it makes sense with all this naked shorting. um Their short position with all these fake shares is so large it exceeds the actual shares that exist. So it makes it impossible for them to close that position. You have to realize that there's levels to the markets at that. That when we go, they're shorting. Okay, that's just you own a share, you take a price bet,
Speaker: and the share go up, share go down. That's a level one instrument. But there's level two and level three instruments to the market. What that's dictated by is how hard an instrument is to ah evaluate.
Speaker: So swaps, like say that If I can explain this simply, and this is, I think, the easiest way that I can do so. I wanna borrow your car. You have a Honda Civic, it's worth $500, that's cheap, it's just a piece of shit, but I wanna borrow it for a week, so I wanna borrow it for $500 for one week. I'm gonna pay you payments every day for the days that I borrow your car.
Speaker: right I'm going to borrow it for a week yeah and I'll give you a payment every day, principal interest payments. That's a swap. We just swapped an asset, your car. That can be done with an equity too. We can do that with shares. Now say that this is risky and I'm like, you know, I'm going to take this thing and I'm going to go rally racing with it. So I need insurance on the car. I'm going to go to the insurance company, set up a credit default swap on the car.
Speaker: So if the value of the car goes less than what I'm paying for, a $500 car, you're going to fix it and make it a $500 car in case it blows up. That's a credit default situation. Hey, I'm going to make a risky bet at the value of my bet goes exponential and I can't afford it. I need you to fix it. Let me use your credit. That's technically what insurance is. You know, you're paying to use their credit.
Speaker: Now say that I'm gonna go ahead and borrow your car so I can rob a bank. And this is real fortuitous, right? that's i'm gonna I'm gonna not give you any interest payments. I just need to borrow your car, come back in two weeks, and I got some money, right? I'm gonna totally return you all of the profit. That's a total return swap, like an equity swap, but we're changing how the payments are done. That's it. With Archegos,
Speaker: All of the swaps that he created where he was sharing shorts and they were multiplying it, they were set up in a way to where there's no principal interest payments. There's no monthlies, there's no weeklies. it Everything is paid at the very end at maturity and those are called bullet swaps.
Speaker: It's like a total return. We're going to do something risky. There's a bunch of money to be made. I'll give it all to the owner of the share. I don't give a shit. ah I just need to do this because I need to do this. When you really chain these together, it creates a situation where when something defaults, instead of covering the debt of the default and actually having things come to fruition, to come do,
Speaker: they're kicking the can they're extending the payment date farther than what it should be and that's only done through collateral ization and leverage through like ETFs right through like taking a debt obligation like a mortgage, bumbling it together with other debt obligations, collateralized debt obligations, CDOs. So we're gonna take the mortgage, the loan payment, we're gonna take all these different things, bundle them together, and that way we're fucking with their ratings, we're gonna leverage that and trade on it. God, technically the market should have blown up in 08, bro.
Speaker: And if I take it farther, the market should have blown up in 1999. But because of swaps, they were able to use credit and leverage to extend it to where, by the end of this, when it does blow up, we're being marched directly toward a central bank of digital currencies, which all of the banks from 2008 that we bailed out are working on. and that What do you think? That's like a bailout?
Speaker: eventually no I think it's the transition of the financial system into a digital dollar the social credit score all of it yeah that comes our way very quickly so obviously why everybody's on board with crypto and Bitcoin having the recent surge
Speaker: And then obviously we're very happy with GameStop getting on board. um I mean, it sounds like I know you were part of that. I'm excited over crypto. Don't get me wrong. yeah I'm excited over this, but I think there's.
Speaker: ah
Speaker: Sorry? That must be good. That must be good. I want some of that. Pass that over here. There's also appropriate designs to where blockchain cannot get conquered, right? When we look at yeah network designs, there's reasons and wrongs and exploits with each type of network design.
Speaker: Technically, we would need whatever they choose to do. In a socialistic fashion, each participant of the system would need some kind of a voting mechanism. right A distributed to where each participant of the system is ownership of the system. whether and By that, I mean distributed network in the center,
Speaker: And that way it cannot be conquered. It doesn't matter if you own majority of the nodes or the network points or the IPs or the people that it can't be conquered in that fashion. Outside of that would need to be decentralized. Are you a network person? Do you understand what I'm saying when I say this?
Speaker: I'd say just barely north of 50 % of it. I mean, most of this is like, it's so overwhelming. It makes me feel so stupid because there's so much terminology. There's so many different don't financial instruments. for talking Honestly, it gives you a, this gives you your baseline for what you should educate yourself upon. So it should give you a vocabulary list. Just learn. No, absolutely. Yeah. There should be no diminishing in your own thoughts.
Speaker: I know, but that's kind of one of my motivators. It's like, okay, I have to figure this out. I have to conquer this. It doesn't make sense. And I have to, I'm just such a visual learner. I have to - Yeah, these are good things. Okay, so imagine the, did you ever use the computer when you were 12? I'm sure you did. Yeah, oh yeah. Did you ever use Kaza? Kaza.
Speaker: Why does that sound familiar? Is that? What about now? Is that the music? Yeah. Oh yeah. Yeah. Yeah. Yeah. Exactly. Yeah. It's everybody owns a part of something, but they don't own the whole thing. That's a distributed network, a decentralized network.
Speaker: is the way that the blockchain works. Whereas that makes everybody holds a part of the thing, if not the whole thing, and that's in that way of one node exists, all nodes exist. But distributed, all it takes is one point to still exist for it to exist. You know what I mean? Think about Kizaw. When you upload a file for the first time, then another person downloads it.
Speaker: than another person downloads it. You only download what's necessary, whereas decentralized is you're downloading everything. You download the whole fucking blockchain and you're sharing the whole blockchain. Okay. Okay, that that helped click a little bit. Yeah, because honestly, you're going to go into simple network, computer network designs. There's only a couple ways to To really design how the computers of a network, say you have 10 computers, how do they communicate? Is one of them the server and the rest of them clients? Are they all distributed to where they're all server clients? How are we making the parts of the system communicate? How are they all responsible for the other parts?
Speaker: And this is Computer Network 101. When you think of voting systems in our politics, it goes in the same way. How does each participant of the system have a proper voice without overtaking the system?
Speaker: that bar is like sir this The voting systems are essentially the exact same designs as computer networks. I think you're yes. And holy shit, you're giving me so many more rabbit holes to go down. and But I think we're really, we had a little bit of a chat right before this and you're helping me realize why so many people rode the first wave and got out or they're kind of looking at this still continue on and not evolving their thought and just saying, as it's only up.
Speaker: No, no, honestly, there's there's a bigger picture here with GameStop and I'll revert this back to GameStop Yeah, I don't know anyone that sold I know one person that sold and they actually wrote some very fundamental DDS, but they're like So shill they're like no tell her fuck you that ah then I don't give any other credence. I think that they got got quote quote in this I've had a thesis for about three years and it was since Ryan Cohen took his Twitter black, dark, um and which means going OTC in a stock market term, and then at the same time
Speaker: GameStop changed their Twitter to their PFP to red and white, and then they changed their banner to a bunch of collectibles. But since Nat Turner's addition to the board, if you go through Nat Turner's posts, at the time that GameStop turned their Twitter red and white,
Speaker: Which should be the bloody flag, like yo, no no holds barred, no quarter given, Jolly Roger 101, like this is a war flag, those are war colors. Nat Turner did have a tweet where he said, video game collectibles, something, something, something, and he showed a sealed Nintendo 64 container with a game in it, perfect condition for like 1 .6 million.
Speaker: And I've been saying for a long time that I think that we're gonna isolate our collectibles business, blockchain the inventory, the GameStop Marketplace was a beta run, and that we're gonna re -kick this up with not just collectibles, but not just art, not just Funkos, not just Yu -Gi -Oh !s and Pokemons and everything else, but this is gonna end up doing in a special way.
Speaker: If they take the video game inventory that they hold right now, which is a lot of video game cartridges, and these get filed with an NFT ownership per cartridge, then these become digital assets, digital asset collectible assets. Now, digital collectibles, depending on their rarity and quality, will appreciate in their worth yeah because all collectibles, once they're rated, appreciate.
Speaker: And that's when you talk about a really interesting situation. Yeah, we and we hold essentially the entire video game industry's inventory, but except for some mom and pop stores.
Speaker: And once this is graded, rated, and then blockchain inventoried. Oh, bro. There's no going downwards. That means that our entire asset equation, we're going from an equity based business to an appreciable asset business. And if they do, what my thesis is that Ryan Cohen,
Speaker: projected what it'll do with GameStop with Bed Bath & Beyond is they tried to approach this company and tried to isolate the most successful venture of the company going, if we take this from your main IP, as you go bankrupt, this won't and you live. But GG, that's it, bucky shorts. And I've prospected for two to three years that GameStop is going to take to collectibles, blockchain the inventory,
Speaker: The NFT ownership, if if it involves any kind of a grading rarity quality in the minting, or if you have if you buy the digital to come up and show up and redeem it for the physical, if you you know what I mean? Like you go to get a rating and then you can then redeem your rating for a specific NFT. There's a way to bridge not just digital collector's ownership, but digital collector ownership with a rating involved.
Speaker: and a equality and a rate a rarity in the same way that PSA does. And once you do this, there's no going backwards from being appreciated.
Speaker: That's a great point. I mean, that's so true and like to their core valid values of the physical asset. But as we look at, I mean, you're making me think about this completely different, and how strategic it was to have GameStop retro and build up this inventory of those appreciating assets. And now we have the partnership with PSA. I've not been given wrong. I've only been shadow banned, buddy.
Speaker: Honestly is I feel like the machine and I'll just leave it at that. I'll call it that the machine I Feel like when it comes down to it the whole idea is to go. Oh the squeeze is done I'm not even here for a squeeze. Like, I spent a thousand dollars a couple years ago and I'm waiting to see what the business does. I am an investor. I'm not a trader. I'm not here for some short -term profits. I'm like, yo, if this works well, eventually I'll ditch one to get my cost basis back. Don't give me fucking, I'm not stupid.
Speaker: But yeah in the scheme of things, no, the rest of them, I'd like to see you what this company does on a 10 to 20 year. This turned me into a girls investor.
Speaker: I, yeah, I, I 100 % agree. And it's so much different this time around where I think even if I would have never gotten obsessed with the the memes and riddles and saw what was going on, I would have assumed game stop hilarious. Okay. They're probably something's going to happen. They're going to squeeze and go back down. But this time around, just everything, all this, beno out of stone you weren't here last time, bro. nu Yeah, but by the time I discovered DFB and I was like, oh, he has a Twitter. It was interesting because I was like, these memes are fire. Like, yo, that's good at this. And then I got stuck on the thing where I was like, why, why do some of these have a power up?
Speaker: Some of these don't know. Yeah, I was reading into that. Why do they have a power up? And I got stuck on this. And I was the power of the GameStop logo, the little circle. Mortal Kombat taught you when you were four years old. Knowledge is power. Yes. Well, what if power means seek knowledge?
Speaker: There's power there, bro. If knowledge is power, power up, knowledge up, figure out why it's fucking there. And I played that game for, I don't know, maybe a week, two weeks with people online. And it, ah what it really came down to is all of the things that had a power up on them.
Speaker: when you look at the stock guy and you go, why would he show me this fucking thing? Why would he, why is this here from a fucking stock guy? I don't, why is this, why do some have power ups? You gotta look it up, like one had an F -18 jet, there's a power up on the fucking rear of the jet, it leaves, the movie is Top Gun, but the fucking plane itself is made from Lockheed Martin. You gotta look up the movie, it leads to Paramount Pictures, that's a frivolously related output gap.
Speaker: there's something in the fundamentals that doesn't match the chart. This is being manipulated. You go to look at Lockheed Martin and it's like, well, fuck you made the F 18. Is that what I'm supposed to look up? You do the DFP level diligence on Lockheed Martin and you go, Oh, fuck military. I get it. Yeah. This is a bubble too. There's a Prague here. Uh, man, and with each and every of the hundred fucking companies that I looked up and did the deep DFEDD on all of them.
Speaker: That was level one. I did the end game D .D. video. That was maybe three hours. I live stream that. ah I fucking dick picked everybody. I forgot that at the end of my club, they put a dick at the end of the movie. um And it's literally just splices a specific fucking frame that I cosmically ended my stream on. I remember doing it that day and I was like, oh, no.
Speaker: Oh, no. Oh, no, no, no. Oh, no. Because I turned off the stream and the very last frame was just like the dick. And I was like, Oh, no. 22000 views in three days that had more views than Ryan Cohen's tweet did in the same amount of time.
Speaker: I felt I had 10 that was an accident like I laughed because I was like there's no way there's no way Ryan didn't watch this whole fucking thing there's no way uh I made that video and GameStop tweeted out we're in the endgame now uh and it's like you fucking guys they're all fucking with me there's no way I'm gonna name my video endgame DD and you're gonna tweet that out you fucking bastards Damn, they're paying attention. Yeah, I laughed for fucking like, I felt, I want you to take it serious, you know? Take the world. Yeah. That's baller though. That's baller, I think. Just one of them things. I forgot it was even there till I stopped the stream and I was like, oh no. Oh no, no, no. Yeah, it was fucking retarded. But when I started this, you marked my words.
Speaker: There's people in our community that are not on our side, and they were in my discords this whole fucking time. And when I started to write on and research, my very first write up on Reddit is on Ingalls Markets. And what I uncovered in one of Burry's fucking picks, trying to learn from the bear,
Speaker: was an intelligence level shell fund that connected all of the underwriters to Russia. um jesus This got me absolutely hacked off of Reddit. This got me shadow banned. This got me cyber attacked, threatened gas lit. This got so real.
Speaker: People get so upset if it if it goes against kind of what their narrative is or their thesis. Especially when it's the government, bro, we are in a tightly controlled narrative. The things that I have learned, shown, and found, some of them are credibly not unproven or not disproven. um They can't be disproven. I was not wrong.
Speaker: So in the scheme of this, there are open loopholes in the markets that allow for infinite shares to be created at any time that they wish based on owning nothing. And that's FTX business model. That's how they redeem the shares. That's Archegos, how they made naked swaps. yeah There's so many levels to this, bro. And these all come down to the financial network as hackable.
Speaker: And when you look far enough into it, it's been that way for a long time. Well, that, yeah. And that that's probably been one of the most eye opening things for me is when I was looking at what Ryan Cohen did with GameStop initially, and as he bought the 9 million 1000 shares, which I found relates to the 9 ,001 IQ move, which is like this no new internet lower, bro. You're not a non.
Speaker: I'm only saying that because you don't recognize it. This power level, it's over 9 ,000. Have you ever seen that meme? No, I haven't. Oh my god, this is a non -101. This is like hackership. I'm going to send it to you on Twitter right now so you can see it and know it.
Speaker: Yeah, no, I appreciate that. Cause I, I saw it actually GMEDD article where people were referencing the 9 ,001 IQ, which is like a exposing a system to victory on Twitter. Um, you go ahead and look up later. It's over 9 ,000 anonymous meme.
Speaker: this is interesting internet anonymous lore no thank you yeah honestly i appreciate that calls he got over 9000 his power level is over 9000 when they released the game stop marketplace there's a game that they hid The intro screen for the game said game on and on. ah That's really what got me to play the game is I was like, okay, bitch, challenge accepted. I went to the source code for that game, the runner game that they did for NFT marketplace. I took all the the graphics for it and I reintroduced it. I changed it quote unquote into a video. I'm going to show you the video right now.
Speaker: Yeah, thanks for sending that to me. That's I mean, we're it's still I guess even though I have there's levels to this shit, buddy. Fucking a I mean, that's what I was going to say, too, is like just seeing all the different um all the different things that ah can be exposed for the other side of the hedge funds to kind of escape like certain defeat and create these synthetic shares. um I mean, we were talking about, God,
Speaker: Where am I? I have to have freaking notes on this, but the equity swaps, the total return swaps, the credit default swaps, contracts for difference, you know, you, you were referencing bullet swaps. I don't even know what the fuck that is. honey That's and just all this stuff where it's a total return swap to where all the payments they're not due until the end. So that way that nobody knows the swap set up.
Speaker: nobody can Nobody can read it. There's no transactions. It's just in the background. And unless you're actually watching the CFTC swap transactions, they give it weekly. There's people in our community that have been watching it nonstop for years on end. So when it came time for me to learn this, I was like, yo, but how did these work? There were people who had already put in the work on such a real level. It's absolutely crazy, bro.
Speaker: Yeah, this this thing is insane. And like, I mean, that's it's nuts. And I get I believe it, too, when you say there's silencers out there, because when you have so much money at stake, I mean, you have resources to kind of control the narrative, obviously. Fuck.
Speaker: This shit is just making me pull my hair out, but fascinating to learn and thank you for educating me because, you know, I'm newer. I i need to learn. I need the right guidance. I'm going to make um as many assumptions as I can and try to draw conclusions, but I have to be um corrected. You know what I mean? So that that's part of this too. I mean, just having the opportunity to talk to you with your experience, your history, everything you've researched. This is just fucking awesome. And I feel like I can have 20 more of these and still just be so confused and still learn so much more. And that's probably what you find out too. The more you learn, the more confused you get, the more questions you have. It's, it's one question at a time, bro. You're in for a journey. You can't expect to be like, okay, I got it in a day. That's not the way the game is played. Uh,
Speaker: Honestly, I mean it's Feel like it sucks the last thing to really I think feel like to cover in All of this is the concept of what I think game stops actually gonna do ah And the last filing that they did that I think was extremely important was a seven for one filing and And if you go through GameStop's filings through time, they set this up in 2018, 2019, and I think 2016 before we showed up, um is the units, the warrants, and the rights are set up in a very special way. And so everything is convertible for the other one. And so you have verification of what is converted through the underwriter Jeffries. Everything is done through Jeffries.
Speaker: Now the neat thing here is that these are set up in a way to offer a dual security so you can get security that has nothing to do with GME with GME. That's done with the units, the warrants, and the rights, but it's done in a way that whoever holds the secondary security can't sell it. They can't do anything with it.
Speaker: And I think what they're about to do is create ah a confirmed ledger of everyone across the board who has a share, who gets awarded, they convert it, they get awarded the conversion, it gets converted again, they get awarded the conversion, so they have a double, technically it's a triple kit registry of what the shares are, who has how many shares and where, and that would be a ledger GG for the shorts.
Speaker: Um, off top, you wouldn't need the regulators who lied to you for what's done for what. You would just need to issue something and then say that hypothetically they do a reverse split separating the collectibles IP into its own entity. That's an appreciable asset base. Essentially that's the GameStop version of Apple, where all of the things that it owns, it creates an in -house hedge fund.
Speaker: essentially with assets at a time of equity downturn at market correction. It's the most fortified structure you could restructure and reinvent yourself to be at all ever.
Speaker: So essentially just I mean, just putting in these simple dude. I mean, like like I just for simple for me terms, I'm the shit is so crazy, but essentially just exposing all those phantom shares, right? And um putting light on how many shares actually exist through that registry. Is that kind of what you're probably overloading you with shit to think about? well I need it. I need this. Thank you. I really appreciate this. So don't hold back.
Speaker: You're like, yeah, that's a hell of a fucking record.
Speaker: know i've been yeah I haven't even looked at the chart all year. I don't, I don't look at my investments. I don't worry about any of this shit. I really look at our five year. Like it's about to be psychotic. I don't look at now. I'm not even worried about fucking now. I I'm more worried about the CBDC and like tokenization of securities and things.
Speaker: well I feel like what most people are missing and the holy shit. I found a whole nother weed pen hold on ah forgot this isn i'm hittting I'm jealous I Literally did this was just in my pocket. I looked for this for like two days going. I don't know where I put that but
Speaker: It found you when you needed it the most. There's an honest turnaround story. If you look at our financials of the company, if they run the same business model that they're doing right now, even in a dying industry, it'll take seven years to bankrupt us. Can they pay the premiums on seven years worth of rollouts? No, they can't. There's no way to bankrupt the company. The turnaround was successful. There's no going backwards now.
Speaker: that, what a complete fucking like, I mean, this history is - When you don't think of this as a trader, fuck to squeeze, right? I agree. But you do look at it like an investor. Hey, let's see what they can do. The sky's the limit at this point because they can't go bankrupt unless you find out they're all like child traffickers or something crazy. Like there's nothing that can really ruin the company, you know what I mean?
Speaker: it's only got from here like we're we're past the negative downturn the the media had no effect you can't tell us oh everything's done that's not the way it works when you think that i see enough no let them grade and like literally rate all of their video game cartridges everything becomes a collectible all the consoles become collectible let another company come out with not just game gear although it would be nice if the mod retro had a way to where they could like load game gear games and things like that would handle all the
Speaker: mobile game carts and then introduce us another Super Nintendo. But do this in a way to where I can, with Game Gear's technology, load multiple systems carts. Why can't we have one 1990s retro console? One. You know what I mean? And I want ownership of those like digital games that are on there, too. I don't know if that's part of your thesis. But yeah. that ah
Speaker: I feel like, honestly, if I'm gonna speak to you intelligently about this, it goes into looking at what all of the developing companies are doing, is that we're a hub, GameStop is, for a lot of different companies. And some of them have some really interesting technologies, especially Atari. But when you put together, damn, a cigarette went out. I'm doomed!
Speaker: When you put together what all the developers are doing, essentially, they're all working on... we'll We'll bring up Nvidia first, because they're a weird one. They're a third party to what all the consoles are doing, right? They're a technology company, essentially, outside of AI. they're sent They're just a technology company.
Speaker: When you think of them that way, they're working on a unified file format that each of the video game creating companies will adopt and use. And it goes across not just levels of music. It's one file format that can handle all of the different file formats which were previously proprietary.
Speaker: and it's called It's probably the most simple explanation I've ever heard of an NVIDIA. Yeah. yeah and so What we have going on is Epic, Unreal Engine, the Unity Engine, Microsoft, x like their Xbox, Sony, the Nintendo. All these companies are coming together. Once proprietary leaves,
Speaker: Essentially, everyone's working on the same system. And the system's backend isn't going to need to be a box in our front room. It's going to be ran on the backend of the AI. We're just going to have a little Razor four inch square box that connects client to the server. We don't need these big bulky thousand watt computers anymore. We just need our phone.
Speaker: You know, our phone connects to it in the same way that you would go into Decentraland or go into Atari's web3 world. It's all ran in the browser. Like, you don't actually need hardware to run this shit. Our computers and our phones are more than fast enough. So it's a transition of not just the hardware we need to own. Consoles go away. They're not needed at all. Think of it that way.
Speaker: This goes also into Apple XR. Well, what are they doing with augmented and virtual reality? What can our devices do? It's a unification across so many different systems and levels, but it's not just developer -based. Because once they're working on the metaverse, like a singular world where everybody's working on the same assets, it's a reinvigoration of all the assets that have already been created. You know?
Speaker: Yeah, it's literally everything, everywhere, all at once. It's a Ready Player One level. We're changing the way that we interact with the data. We don't need keywords anymore. when If you look at Wreck -It Ralph, that's a decent one, ah think of the Google bot and Wreck -It Ralph or Ready Player One, like the way that they're going around the downtown. you know ah I think of the subway system and Wreck -It Ralph when I bring it up.
Speaker: It's the idea of you're just in down, you're in the town hall and then you go through this portal and now you're in that game. You know? Yeah. that These are all precursors to what's actually coming our way. When you look at a, it's a little funny.
Speaker: um Atari is so special man especially because they're doing the NFT ownership and technically they've got a couple different softwares out where if you own a poster you can shoot the poster and then all of a sudden you're playing you're playing asteroids in your front room or you're playing space invaders they're coming through the ceiling and trying to get you in the room that you're in.
Speaker: i feel like So a physical poster that turns into like a video? the It's an NFT poster that is in your augmented reality room or your meta version. Oh shit. But you click it, say that your room is actually the room that you're in. You have a digital poster on the wall, not a physical one, a digital one. you know Think yeah thank augmented reality. And then yeah by shooting the poster, because you own the NFT, you have access to what the game itself is.
Speaker: And the internet itself becomes the game. And the real world itself becomes the internet. It becomes interlinked in such a ah really special way, there's no true separator. You might, like right now, you look on your wall, you've got things hanging on your fucking wall. But what is?
Speaker: your walls are empty and everything is digital and your glasses show them to you. Google Glass, Google Lens 101. This is, I mean, I feel incredibly humbled.
Speaker: You see things so well. It's such a it's like beyond a balcony perspective, just just how everything is working together and where things are moving towards. I don't even know but like what our Atari is up to nowadays. I know it's kind of a valuable asset, but I thought it was there, you know, their legacy games that were the asset. And it's they've been working. They've been working. Think about how their games were produced and created. They were in the most simple polygonal structures There's no true overhead for the way that their technology ran. like Not in the way that like Fable or like Halo runs. It's not even the same precursor. like yeah Atari is something that you can just overlay on top of reality. And if you go deep enough into that rabbit hole, it's interesting.
Speaker: There's a company called M -O -D -A -L, model, V -R. Say that again. Modao, or model, I don't know how to pronounce it, to be honest. M -O -D -A -L. But the cool thing is, this one little company, this is a project of Nolan Bushnell, the founder of Atari.
Speaker: ah You can find it on YouTube. This was 2016, and then they went dark. Somebody gobbled them up. I couldn't figure out who, but it was bio haptic feedback suits from Ready Player One. And there was a guy in the middle of a football field. He has a laptop. It communicates with the VR headsets wirelessly. The two players are in a football field. They're doing this outside. And essentially, it's the Tron video games.
Speaker: um You know the movie Tron where like they have disk wars and things Yeah, yeah, it's that It's literally that that like it's that to the tea that like that's they're making they're making Tron. That's what it is um Like when you think of Tron it's a blueprint for a whole game world Now you get it. That's it. You blow that up. This is it now. We're playing Tron Olympics and the future of gaming yeah that's and everything is so interlinked a gameop is set to be the center of the collectibles
Speaker: entity and the middle of all of this and to pioneer that future of gaming and be at the forefront of it and not this dying radio shack company that people still seem to think they are yeah it's the future of gaming. employees and people that they've picked up over time. No, this is, we are center to what the future of the internet becomes.
Speaker: So if we, okay, we're at, we're almost at an hour mark and I wanna be respectful because i I feel like I would love to have another heart with you where I actually research and can contribute to the conversation more because a lot of this has just been so mind blowing to me. But when I think about all these things that make, you know, make any GameStop investor confident in their investment, it's, there's so many layers. You've got all the mechanics that are being exposed um All the the original investors that are holding on to those shares, so really just kind of exposing all the the phantom shares. You've got everything Ryan Cohen is doing from a strategy standpoint. He could invest. He's got four and a half billion cash.
Speaker: He can invest in other stocks, he can invest in other business ventures, ah the partnerships with ps PSA, um the future of gaming. What we just discussed, I mean, all of these things make up the most compelling bull case for a company that i could think I could think of. And this goes way deep, way far deeper. But again, I'm yeah i'm a new person since June, so maybe like you did, as I look at those watermarks, those power ups that DeepFuckingValue put on his memes, because he has a history of looking at chunks of hundreds of different companies, right? Don't quote me here. You know, I could. but I could be crazy. It could just be art, bro. We're all crazy. I don't want to say for sure. That's what anyone said. All I know is when I really examine this, it's what I saw. And so, you know.
Speaker: No, no, it's fair and it could just be I'm just seeing a bunch of schizophrenic shit through a bunch of memes in all fairness Blah, blah, blah, absolutely And I can relate to that pretty hard too. So but I think I mean to ground us a little bit ultimately at the end of the day um There's a lot fucking here, you know call it crazy. Call it a stretch um pipe dream, whatever There's a lot fucking going on here. um And it's it's just it's insane to me that people don't see it that way. So hopefully this at least spreads a little awareness. I don't know if that's a good or a bad thing, but either way, it gives me confidence that Cohen and team know the game better than I do. And it's going to take me a long time to even get to your level.
Speaker: So if they understand the game and all the different levels levers that are being pulled by all these different entities and where they need to take GameStop to transition it into the future of gaming, I mean, this is there's going to be fireworks. And like you said, I fully support and agree Um, and I'm not quoting you, not quoting you that this is not a squeeze play. Definitely not a squeeze play this time around. That's, that's ah what all the signs are telling me too. And just from a very green introductory level. Um, but holy shit, this is fascinating. There's a lot of entertainment out of me and going back to the first part of the conversation.
Speaker: I still haven't even gone through all the the live streams. So i've I've got my work cut out for me, man. This is this is something else, you know. So this is I think it's the it's the game of your lifetime sitting in front of you, friend, because yes, by the end of it, there's a lot of people that are going to show you information and you get to question why are you showing me this?
Speaker: And when you're on your own journeys, they're going to go, no, look here, do this, read that, go over here. Oh, no, don't pay attention to that. And for you to lead your own journey into this, based on this conversation, I feel like there's a valuableness to that. Like yeah it really allows you to question from this point forth,
Speaker: How did other people get so far from where you're about to go? I think that I was able to give you for most of the hints on all this without actually ruining your game.
Speaker: You know, because it's the reeducation of a lifetime. It'll take you back through history. It'll take you back through finance. You're going to relearn so many different things and not just new things. You're going to have to go backwards and be like, well, when did Citigroup start that? Like I'm telling you, man, it's, I am not the same person that started this journey. And everything that I learned, I go, I don't remember it like that.
Speaker: But when you relearn it, you don't have the gaslighting hand in the middle. You don't have a pre -painted narrative trying to give you omitted information so that you learn a certain way. The people that taught us didn't teach us the entirety of things. So to relearn what you're you're what you're seeking now, yeah, bro, it's a beautiful adventure. It's one that I could have never asked for, but I'm glad I found.
Speaker: you know I could see that's what if I could quote anything from you it would be that parting advice right there at the end which will be very valuable for me as I go forward because I think a lot of times too I get down one rabbit hole I don't have the capacity to consider what ah somebody else might be saying so I have to put that on pause and come back to it or whatever the case may be but I think it's a really good reminder for anybody that's obsessed over this and wants to find the answers, everything you said right there, be open -minded, go deep, enjoy it. There's a lot going on here. This is history in the making, and we're just all grateful to be a part of it. so Thank you. that That parting advice right there, ASBT, that was the shit. Thank you. Do yourself a favor. As you research, research to completion,
Speaker: Now there's a point where you're like, okay, I'm down with this part, but you're going to end up re going over, especially financial parts, like your diligence on companies as my understanding of the markets went deeper.
Speaker: I needed to go back and re -review my diligence. And with that came greater insight as you go deeper into the instruments that they use and what types of players there are. Yeah, you'll have to go back and readjust and to see a re -review maybe once per year, you know, like go back and see how far off your original thinking really was.
Speaker: With mine, I have not adjusted my thesis at all. Not in three fucking years. Everything that I see and I go back through filings, it reaffirms that I was always on the right point. And that's why I got shadow banned. That's compelling and terrifying all at the same time. It just, I mean, you're, it feels like you're flying very close to the sun. You know what I mean?
Speaker: That's awesome. Yeah, directly into it. Yeah. it's like Well, yeah, I love that. And I think that's been what's been really cool too is in retrospect being new to all this.
Speaker: You know, I've I can't imagine what kind of theories I would have spun up if I was in it as at the same time as you, you know, three years ago, but having um more evidence has been really good to kind of make sure it kind of helped guide me down the right path. But I mean, all the incredible work and research that you've done that others have done. It's just awesome. I really appreciate your time. um And That's I mean ASBT at it's always reigns aka always sad but truthful Thank you. You're a legend. I feel like you might have intimidated anybody else from coming on the show um Nobody else has to be nearly as intelligent or well -spoken as you um But goddamn, thank you so much. This has been a treat um And really appreciate your time Hell yeah 741
Speaker: 741 there we go baby well i'm gonna close this out um thanks again for everything i will i hope i hope you want to stay in touch i'm gonna have continued more uh questions for you maybe a part two where i i level up in a year or so or something we'll see what happens but Until then man, I'm sorry, but you gotta you gotta bear through my shitty outro, my monotone shitty outro rap. That's everybody else.
Speaker: so next street kind of on top of this sort of crushing beautiful borders not quite right in the border just average bit who gonna be
Speaker: A. A.
