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Funny how at the same time the OCC is trying to push through a change to margin calls that would prevent bankruptcies (and thus shorts closing), Wall Street is trying to convince us that margin debt is decreasing and there’s nothing but continuous gains for the future of our stock market.
A persistent decline in margin debt suggests that a red flag from the meme-stock mania of 2021 is currently non-existent.
If that’s the case, then the proposed rule SR-OCC-2024-001 is completely unnecessary and irrelevant. Why would they even propose this if margin debt is so low?
The fact is they hid all the margin debt in dark pools and swaps, and they are bullshitting us. By all rights these banks and hedge funds should have gone bankrupt already, and they are shitting themselves in fear knowing that a day will come when their debts come due.
While they are posting bullshit articles like this to compel us to give up, they crawl on hands and knees to the regulatory agencies and beg for leniency. That’s what SR-OCC-2024-001 is. It’s a pathetic cry for help from a self-entitled baby who doesn’t want his pretty little ass spanked by daddy.
I agree OP. Don’t bow. They lie and lie and lie, and while it is frustrating that they can seemingly refuse to pay their debts indefinitely, they are not all-powerful and the only thing we need to do to win this is hold.
From the book ‘The Secret of Success’ by William Walter Atkinson.
Great post title and passage. We would all be stronger for heeding the advice to simply not bow.
I see far too many around me waiting to bow for the next celebrity or strongman that comes around dripping the honey they want to hear into their ears. Practice strength of will individually and collectively we won’t need them.
