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The American System

Feb 2021

February 1, 2021

February 2, 2021

Against Backdrop of Speculative Chaos, Urgent Support for 1% Wall Street Sales Tax Emerges: Question About Financial Transaction Tax Is Posed at White House Briefing, but Psaki Refers the Issue to Senate Committee; Economist and Former Secretary of Labor Robert Reich Wants Financial Transaction Tax to Fight Vulture Capitalists in Rigged Wall Street Casino; Rep. Ilhan Omar Sees Wall Street Trading Tax as Way to Reduce Parasitical High Frequency Trading which Overwhelms Retail Investors; CNBC Headline Comments that SEC Could Fight Crisis by “Hiking Trading Taxes to Combat Wild Moves”, But Does Not Provide Details; Wall Street Sales Tax Discourages Speculation and Fosters Productive Investment;

CNBC Analyst Notes that “Reddit Trading Frenzy Could Cause ‘Systemic Event’ in Markets – Meaning a Cataclysmic Panic Crash; Bright Line Prohibition of Naked Shorts is Required at Once!

GameStop Down by About 34% Monday; Reddit Rebels Reportedly Splitting into Buyers of Distressed Equities and Buyers of Silver; Top Wall Street Honchos Said to Operate on WallStreetBets Under Fake Identities; One Top Rebel Holds High-Level SEC Securities License; One of Biggest Holders of Gamestop Shares was Black Rock, the World’s Largest Asset Manager with $9 Trillion Under Management, Including 13% of Gamestop Shares; By Last Friday, this Would Have Implied at Least a Paper Profit of $2.4 Billion; 

Biden Must Reject Grotesque Republican Tactics of Wrecking, Sabotage and Delay on the $1.9 Trillion Pandemic Relief Package and Press Forward Without Delay to Pass Intact Bill via Budget Reconciliation; Learn the Lesson of Obama’s Dawdling on the ACA in 2009;