Check Keiser Report website for more: In this final episode of Keiser Report from Los Angeles, Max and Stacy discuss the ongoing pandemic and the financial turmoil which has followed. As markets dive and then soar and then dive again, some areas of the world like Lebanon are experiencing default and banking crisis. While the banks have limited withdrawals in the country, some people are turning to bitcoin as a way to transfer their wealth out of the collapsing banking system.
In the second half, Stacy interviews Max about the sub-reddit r/WallStreetBets which had claimed to be able to guarantee big stock market earnings by buying options and forcing the market maker to buy the underlying stock as a hedge, thus driving prices higher.
As a former options trader and also an inventor of virtual specialist technology, Max doubts they had any impact and that this was just the same old boiler room style scam that had been tried many times over the generations. Furthermore, the 4chans with Bloomberg terminals are obviously getting crushed, like everyone else, by the crashing stock markets. Nobody can predict markets.
Listen to this episode on Soundcloud:
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