Post #4042524

2026-07-23 17:52 UTC

Hence the sphere of #markets and #blockchain scams and so forth is absolutely lousy with purportedly powerful abbreviations, short sequences of letters intended to symbolize instant riches: stock-ticker symbols like $GME and $SPCX (not so valuable these days) and $TSLA (same) abbreviated names of businesses and organizations and government bodies abbreviations standing in for social greetings such as "GM" and "GN" (good morning, good night) abbreviations of procedures that supposedly guarantee one's riches e.g. the "direct registration system" or DRS which meme-stock gamblers imagine to be a guarantee that their GME paper will be honored and redeemed even if its value gets inflated to ridiculous numbers. (cont'd)

Replies (1)

@mxchara@seattle.pink 2026-07-23 17:59

I cite that last example, which comes from another Dan Olson documentary about the strange GameStop #investment cult which hinges upon "MOASS" (yet another abbreviation, yet another magic spell), because it's an especially stark example of the irrationality of the magical thinking at work. The premise of the MOASS cult (the "Mother Of All Short Squeezes") is simple: an imaginary war is supposedly raging between evil short-sellers who live only to destroy good honest corporations by torpedoing the value of their #stocks, and true $GME believers who "own the float" (i.e. the GameStop cultists think they own ALL the legitimate $GME shares being traded, whereas the short-sellers have somehow faked the shares they're trading.) (cont'd)

Open ##4042660