s department of treasury And look up its role in the very first line, they say quote: strengthen national security by combating threats and protecting the integrity of our financial system. Now, regardless of what you think of the whole gamestop situation, i don’t think there are very many people who would say it’s in no way harming the integrity of the financial system. No matter what side you’re on so we’ve established that the treasury secretary, janet yellen, will play a critical role in deciding what actions, if any, will be taken with regards to the game. Stop situation but here’s a problem, janet yellen, has just within the last few months, received almost a million dollars from one of the hedge funds that has a massive short position on gamestop and naturally, because of that short position, they’ve been bleeding billions of dollars. The hedge fund company in question is called citadel and they’ve paid janet yellen that nearly million dollars in the last few months for quote unquote speaking arrangements so right now, one of the leaders whose job it is to look into the whole situation and see, if anything, Is undermining the integrity of our financial system and that leader is being paid by the hedge funds? You cannot get a more clear conflict of interest than that. The referee is being paid by one of the teams to think that wouldn’t affect her ability to make an unbiased decision would be ridiculous. When the white house press secretary was asked about this clear conflict of interest, she said this you didn’t mention.
I believe yesterday the the treasury secretary is monitoring the situation and she’s kind of uh. On top of it, there have been um some kind of concerns about her previous engagements with citadel and speaking fees that she has received from citadel. Are there any plans to have her recuse herself from advising the president on gamestop and the whole robin hood situation? Well, just to be clear, what i said was that we have the treasury secretary is now confirmed. Obviously we have a broad economic team. The sec put out a statement uh yesterday that i referred to, but i i don’t think i have anything more for you on it other than to say separate from the game. Stop issue. The secretary of treasury is one of the world renowned experts on markets on the economy. Uh, it shouldn’t be a surprise to anyone. She was paid to give her perspective and advice before she came into office, and what i would say to that is that the treasury secretary is a public servant. First and foremost, her job is to serve the country and any action that she takes. That could compromise the integrity of the treasury. Secretary position must be avoided and it doesn’t take a genius to see that taking money from these hedge funds puts her in a precarious position. So what i would say needs to happen is that janet yellen needs to recuse herself step away from the issue and let a new person be appointed to spearhead the investigation into the whole gamestop situation.
I’M, not really sure. If that means, they need to have a committee to decide who’s going to take her place or how that happens, but there’s just no way that janet yellen can make an unbiased decision on the matter when she’s being paid by the hedge funds i’m. Not asking that she steps down permanently i’m, just saying that, because of her clear and obvious conflict of interest, she shouldn’t be involved in this high level decision making for this issue. So now what we have is the whole backward system coming to the defense of these hedge funds to retain their wealth. You have brokerages freezing the stocks, so they cannot be purchased which drives down prices and helps short sellers. You have the massachusetts secretary of commonwealth, saying that we need to freeze all trades on gamestop for a month and now we have the treasury secretary, one of the highest ranking officials in the u.s government on financial matters being paid by the hedge funds. If this isn’t, exposing the rigged system that we’re all living under, i don’t know what is because here’s the difference, if you or i make a stupid short position and lose everything we own well, then that’s just what happens? You should have made a better investment, but if these institutional investors make a stupid short position and lose which they did well, we can’t let that happen, and the entire government and financial system changes the rules as quickly as possible so that they can’t lose it’s.
The definition of a rigged game and just because i know i’m gon na get comments like this. I realize that janet yellen is the first treasury secretary that’s a woman and i think that’s, awesome i’m happy to see women in more leadership roles in our government, and i hope it continues to happen, and i also realized that basically, every other treasury secretary had either Come from wall street or was being paid by wall street and i’m, not excusing those actions in the past, it wasn’t acceptable then, and it isn’t acceptable. Now, what i’m doing is trying to focus on the present and trying to expose the situation that we are currently in with the treasury secretary being paid by the hedge funds that she’s supposed to combat when they take actions like this? It has nothing to do with her being a woman. It has everything to do with her being paid by hedge funds, hopefully that’s clear. I found this tweet that perfectly describes how i feel right now isn’t. It amazing how they change the rules when the little guy wins that’s going to do it for this video.