Greenwald: GameStop Reckoning Only Happened Because Of A Free Internet, Elite Bent On Seizing And Censoring It

Greenwald: GameStop Reckoning Only Happened Because Of A Free Internet, Elite Bent On Seizing And Censoring It

Glenn Greenwald slammed hedge funds for taking so much while creating nothing in commentary delivered on the GameStop stock frenzy Thursday on FNC’s “Tucker Carlson Tonight.” The independent journalist said it is imperative to defend a free internet because that is the only way the anti-hedge fund phenomenon could have happened, warning the elites are desperate to reimpose a “wedge” between the right and left.

“There are a whole bunch of different power centers in the United States, many of which we often openly discuss, the intelligence community, Silicon Valley, the U.S. government, lobbyists,” Greenwald began. “Obviously, one of the most important and powerful, if not the most powerful is Wall Street and hedge funds in particular on Wall Street who are at the top of that food chain. And we almost never talk about how it is that they get to be multibillionaires, without really producing anything of value, just leaching off the American economy, taking huge amounts of money in exchange for nothing. Whatever you think of Silicon Valley, they get rich by at least producing something whatever you think of those products. These people don’t produce nothing. They just take. And they just take and they just take.”

“For the first time, not only are we seeing them have pain inflicted on them, not by people who are stealing from them or who are committing crimes but people who have figured out their game and learned how to exploit it by doing what they should do which is studying it but they’re also getting dragged out into the sunlight so for the first time, we’re talking about people like Melvin Capital and Citadel and hedge fund short sellers and understanding what it is that they’re doing to this country and it only happened, Tucker, because the internet a free internet — when it’s free — enables citizens to band together in large enough numbers to challenge these ruling class elites. And that’s why we talk so much about the imperative nature of defending the internet from surveillance, defending it from censorship. It is a very powerful weapon in the hands of citizens against ruling class elites and that’s why they’re so bent upon seizing it back, controlling it, regulating it and censoring it,” Greenwald said.

“I think you make such a wise point. If I made a billion dollars, people would say, where did you make a billion dollars? And for what? And I would feel incumbent upon me the responsibility to explain what I did. I never hear anybody discuss what the upper echelons of finance have really done or as you pointed out contributed to become billionaires. Like why is that not a conversation we’re having all the time?” Carlson asked.

“Right and the other thing I think is so interesting in this particular case is you see people on the left and people on the right reacting in very similar ways, namely in favor of what these Redditors did to these hedge funds,” Greenwald replied. “Why? Because if you’re on the right, what you believe in generally, traditionally is free-market economics. If you’re on the left, what you believe in is government intervention and the economy to help the neediest. We have neither of those.”

“What we have is a totally rigged system where the government constantly intervenes in the economy but not to help people who are in need but to help the richest and most powerful who are funded and owned and controlled by those very rich people who fund their campaign to pay their lobbyists who give them enormous speaking fees when they’re out of power and it’s a system that no one, either on the left or the right, supports. The only people that support it are establishment centrists in both wings of the parties and they see these people uniting against them and that’s why they’re desperate to reimpose a wedge between us so that we can’t unite anymore,” Greenwald concluded.

White House press secretary Jen Psaki avoided answering a question during Thursday’s briefing about whether newly confirmed Treasury Secretary Janet Yellen should recuse herself from advising the president on issues related to the developing Gamestop/Robinhood/Reddit stock trading scandal….

Barstool Sports founder Dave Portnoy posted a video on Twitter about the recent investing restrictions placed on GameStop.

PORTNOY: What is going on Wall Street? The way they have absolutely cheated, stolen, robbed everyday people who have been investing with Robinhood and other e-trade…

FOX Business host Charles Payne hammered hedge funds and market makers for punishing regular traders following the GameStop short squeeze frenzy. Payne told “Special Report” host Bret Baier on Thursday that platforms like Robinhood circled the wagons to support the hedge funds affected because they…

Senator Elizabeth Warren (D-MA) weighed in on GameStop’s recent surge and how the market has turned into a casino where people make money manipulating the markets in an interview Thursday on CNBC with Wilfred Frost.

WARREN: There are rich people on both sides of this, people who are trying it…

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