(Liberty Bell) – The real life guy who was the inspiration for the film “The Wolf Of Wall Street,” Jordan Belfort, decided to weigh in and give his thoughts on the current internet-driven run on stocks that are being shorted by hedge funds. This is in reference to the GameStop fiasco that revealed just how wicked and corrupt a lot of top brass on Wall Street really are as they attempt to game the system and prevent others from doing the same.
According to Infowars, Belfort explained that the economic revolution that is now unfolding on Reddit is all due to the new technology and platforms available that allow the average person an opportunity to trade on the stock market and then communicate with other like-minded individuals online.
“Both sides of the political aisle are united on this one thing because money sort of takes the politics out of it… These people are mad. They have something they want to prove. It’s not really about money, I mean they want to make some money, but they’re angry as hell and they’re sick and tired of being stomped out by Wall Street,” Belfort said.
When Belfort was asked what this might mean for the economic future of the country, he replied, “What these people on Reddit, and my hat’s off to them by the way, I mean it’s brilliant what they did. They found the real inefficiency in the market and a gap where something had been dramatically over shorted and they can actually get enough buying power and they did that.”
The Wolf of Wall Street then went on to offer a stern warning, saying that Wall Street is now aware of the consequences of shorting stocks too much and stated he’d be surprised if hedge funds could create a situation where a similar short squeeze could take place.
“I believe this is a paradigm shift right now,” he added. “The little guy finally is equipped. Information travels instantly now. It used to be only the big guys… So, now the little guy finally has the ability to play that same game, at least somewhat, and there is going to be a radical change. It’s not going to be the same.”
Belfort told Yahoo Finance Live that he believed Robinhood was going to go out of business, saying the “lawsuits are going to be very problematic.”
“What they did by completely eliminating buy and sell that was a bit of a red flag to me that there might be some other more nefarious things about like getting pressure from the people who are short,” Belfort noted.
The real question on our minds is whether or not the folks responsible for the mess, the corrupt individuals on Wall Street, will be held accountable for their actions? The problem with our justice system right now is that it seems people who do bad things get away with it. We need to change that.
Here’s the video of the interview:
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