In this episode, I challenge the ridiculous notion that the populist GameStop revolt going on isn’t an “us versus them” moment.
News Picks:
The new domestic “war on terror” is evolving into a war on free speech.
Facebook is at it again. They’re trying to crush conservative news feeds.
The GameStop sage continues. Robinhood shuts out some Reddit traders.
Without a common set of unifying principles, the country is finished.
Hunter Biden is still in business with his partners from China.
The DOJ’s own paperwork shows that Parler is being unfairly targeted for the Capitol Hill incident.
This key player in the Spygate scandal hasn’t been disbarred.
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Get ready to hear the truth about America on a show that's not immune to the facts with your host Dan Bongino.
So let me disabuse you of this notion right away if you're under the perception that this isn't a big us versus them fight.
What do I mean by that?
I was watching Fox yesterday and one of my colleagues over there made a comment that, you know, this whole thing that's happening with GameStop and Robinhood and hedge funds and retail investors, it's not really an us versus them fight.
No, it is.
Maybe not in the way people want you to believe it's an us versus them fight, but it most certainly is.
I want to cover that today.
I want to cover what's really going on here.
Again, kind of a, Kind of piggybacking on what I did yesterday on the show and give you a ton of examples as to how this collectivist, my overused word yesterday, according to the comments, cabal of elitist snobs is really marshalling their forces versus us, the rest of us.
The normal, regular people who work for a living.
It's going to be an important show.
By the way, right before we got in the air, Jen Psaki, the new White House press secretary, she's like, yeah, the White House is going to meet with a bunch of anti-hunger advocates.
Anti-hunger.
Is there like a constituency for hunger?
Like, how are you, how do you get it to be an anti-hunger advocate?
Is there anyone who's not an anti-hunger advocate?
Are there people out there clamoring for hunger?
Like we want hunger.
I don't understand that.
How do you become an anti-hunger, we're all anti-hunger advocates.
I am definitely against hunger.
I just want that out there right now.
My gosh, talk about weaponization of the language.
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Welcome to the Dan Bongino Show.
Let's get to it, I got a lot to get to.
I got that GameStop story.
I've also got a great article about the media, big tech government symbiote, how they're crushing all of us.
They don't want ideas out there, it's important.
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Let's go, let's get right into it.
So, yesterday I was talking to you about how strategy, we have to think, as conservatives, the MAGA movement, as good libertarians, and good solid principled republicans, we need to think in terms of strategy like the left does.
They have used collective action for years, for years, to defeat democracy.
Wait Dan, that doesn't make any sense!
I thought the whole essence of democracy and the whole essence of a constant, we are not a direct democracy, we are in fact a constitutional republic, but there are democratic principles embedded in a constitutional republic.
Voting, the ability to vote for representatives that then are supposed to Supposedly interested in voting for their constituents' needs.
There are components of a democracy in a constitutional republic.
So how is it that leftists have used collectivism to defeat collective action, which is what the essence of democracy is, right?
The expression of power through collective action.
Is that not what democracy is?
We vote for stuff.
We vote for people.
Those people do what is in our interest in a perfect world.
Those representatives in Congress at the state, city, and county level.
Everybody's happy.
So how is it that leftists have used collective action to defeat collective action?
Well, they've done it by bifurcating our society, as I said yesterday, into one side that allows us to use collective action, operate like a hive mind, as I said yesterday, like the Borg, to defeat anyone who challenges their worldview, their pocketbooks, their political power, or anything else.
Using collective action to defeat democracy.
Disgustingly genius on their part.
We have to start employing collective action and leftist strategies to take back democracy, to take back our collective voice, and to take back the Constitutional Republic.
And if there's one thing that an anti-democratic society like leftists now want, silencing free speech, bankrupting their ideological opposition, rendering the MAGA movement politically powerless, attacking political opponents, acting imbecilic like AOC, accusing Ted Cruz yesterday of attempted murder.
That's real, not a joke.
But this is what happens when you employ a double-digit IQ person in Congress, AOC.
But the one thing anti-democratic forces hate the most is they hate the free flow of ideas.
But why?
Why?
Leftists are socialists and collectivists at heart.
Everything should be done through state power.
Individual liberty doesn't mean anything.
The whole essence of collectivism in its simplest, right?
That's why when they use collective action to crush democracy, which seems again ironic, that's why they're so good at it.
Their minds are wired to think like socialists.
Everything belongs to everyone.
Everything is the commons.
Individual liberty doesn't mean anything.
Obviously, if you live by those principles, it makes it really easy to organize collectively to defeat and crush your ideological opposition.
But one of the ways to do that, and to stop your ideological opposition, your freedom fighters, your patriots, your individual liberty folks who believe in liberty and freedom, the best way to do it is to stop the free flow of ideas.
Because ladies and gentlemen, there is nothing more dangerous than an idea.
Now it's hard to control an idea.
Socialists don't have a hard time controlling materials.
You know, what is socialism?
The government control of the means of production, right?
The government controls the factories, controls the economy, controls the farms.
That's disturbingly not that hard to do.
You send your jackbooted thugs onto farms, you tell the farmer to turn over all the food, and you take it.
It's what happened in China, it's what happened in the Soviet Union, it's why hundreds of millions of people starve.
Why do collectivists and leftists crush economies all over the world?
Because governments come in like they did in Venezuela, take control of the oil companies, collectively.
They don't know anything about oil companies, drive the oil companies into bankruptcy and drive the Venezuelan economy into poverty.
Leftists are good at that, at taking over materials, factories, farms, everything, material things, taking it and destroying it.
It's what leftists do best, they destroy.
But it's very, very hard to control an idea.
Why?
Obviously, because you can't get your arms around it.
It's not material.
It's not touchable.
It's an idea.
How do you know if people have it?
You can't read people's minds.
Yeah, that may be next.
The leftists, you never know with their goals.
The leftists have always had a problem controlling the spread of ideas.
They've never had a problem controlling the spread of materials and material wealth.
They can destroy that.
In the snap of a finger.
They have.
That is why we're in this spot now with this us versus them mentality, where the left is using big tech, big money, big business, big finance, banks, anyone they can get on their team to absolutely crush and suppress the spread of ideas because ideas throughout human history have done more damage to the leftist racket than anything else.
Think about it.
The ideas that are brought down leftism, Christianity.
Capitalism.
Democracy.
Those ideas.
Those are the ideas that destroyed the Soviet Union.
Those are the ideas.
Christianity.
What's Christianity's role in this?
Well, it was Pope John Paul with Ronald Reagan and Margaret Thatcher that arguably was the genesis for the fall of the Soviet Union.
Lech Walesa, the labor movement in Poland and elsewhere, around the former Soviet bloc.
These were ideas.
What's Christianity?
You can't touch it.
It doesn't have a feel to it.
It doesn't have a taste to it.
It doesn't have a smell to it.
It doesn't have a sight to it.
Yeah, there are symbols, but it's an idea.
The left panics over ideas because at their heart they're totalitarians.
They can control material things.
They can take your Facebook page.
They can take your money through taxation.
They can take your money through confiscation.
They can put you in jail like they've been doing to any of their political oppositions.
They can spy on you and put handcuffs on you if you're Donald Trump like they did in Spygate.
But they can't stop an idea.
But they'll try.
And that's why they're panicking.
Because they need to preserve their racket and keep any of these dangerous ideas like capitalism, democracy, liberty, and freedom from spreading.
Why did I open up with this?
Because there's a movement right now to crush and annihilate any truth tellers, anyone, you don't have to be conservative, libertarian, or republican, anyone who does not toe right up to the leftist line.
If you dare move and cross that leftist line and start telling the truth about who they really are, you will become a target yourself.
Where did this all start?
I was preparing for today's show.
It's usually a 24-hour exercise, probably a little dramatic.
12 hours or so, it's probably more.
You do have to sleep a little bit.
But I saw an excellent social media post by, was it Logan from The Daily Caller?
Sorry, I forget his last name.
Price, is it?
But a good, a very good social media feed.
And he brought up that, you know, it's interesting that the left is in overdrive trying to crush conservative news sites, conservative Facebook pages, Parler, other outlets.
When we were the ones telling the truth.
So the left's whole premise for trying to do this is that the conservatives are feeding misinformation that's inciting violence.
I'll get to that in a minute too, how they're using that, the weaponization of language.
Great piece by Glenn Greenwald.
Fantastic.
I'll get to that in a minute.
But the right, you guys are all promoting misinformation, disinformation, and violence.
You need to be stopped.
Yet we've been right about everything.
Here's just a few stories.
Some Logan had in there and some I'll throw in too.
You already know this.
Conservative media, including this show, was right about the collusion hoax being, in fact, a hoax.
Which it was.
We were right about Spygate.
The president's campaign was spied on.
We now have the name of the spy, the payments to the spy, how he spied, how he worked with the FBI, how the FBI acknowledged they were spying on the Trump campaign, but the left still continues to insist that's misinformation.
Because they're morons.
And they're totalitarians.
We write about collusion, about Spygate.
What about the WHO?
It was conservative news outlets early on that were warning about the World Health Organization that, hey, maybe they're not telling the truth about this whole virus from Wuhan.
It was conservative, Alex.
Remember we were called... Remember that?
I have a whole chapter in my last book, Follow the Money, a whole chapter on the WHO debacle and how it was conservatives who were warning people.
What about the hydroxychloroquine?
Oh my gosh, it's the deadliest drug known to humankind, hydroxychloroquine.
Really?
There's no evidence of that.
People in my family have been on that drug forever.
In my family with zero side effects.
Now all of a sudden you're starting to see some medical paperwork saying, ah, maybe we were a little too harsh on that.
Now?
What about the COVID coronavirus?
May have come out of a lab in Wuhan.
Oh, you were called.
It's a conspiracy theory!
Remember that?
Remember the leftist media?
That's a big conspiracy theory.
You're all lunatics.
Now as the evidence mounts that that's a possibility, a possibility, All of a sudden leftist media is like, oh yeah, yeah, we need to, those conservatives who we're going to ban, yeah, yeah, still that's misinformation.
Yeah, but they said that months ago.
No, no, no.
It was misinformation when they said it, but now when we say it, it's not misinformation.
Yeah, but you're saying the same thing.
Yeah, yeah, but we said it.
We're leftists.
We were right about the Hunter Biden story.
Remember, that was a conspiracy theory.
It was Russian disinformation until we found out after the election that, in fact, Hunter Biden has an active FBI case open up on him.
Oh, now all of a sudden it's not misinformation.
It was only misinformation when conservatives said it.
What about the warnings about Andrew Cuomo up in New York?
The lauded golden calf Governor of New York, failure, epic failure of a human being who we warned about months ago, if not close to a year ago, was doing a terrible job.
Hat tip, by the way, Janice Dean from Fox for staying on top of him the entire time.
Now we find out from, what, people in the left-wing media who are forced to admit it, that Cuomo's government in New York may have under-inflated and under-counted the massive number of tragic nursing home deaths in New York.
Now all of a sudden, conservative media, the misinformation specialists who were calling Cuomo out months ago for misleading people, now all of a sudden we were right, but we're the misinformation specialists?
Why?
Why are they trying to crush us?
Because they want a monopoly over ideas, and there's nothing been more dangerous to collectivists over time than ideas.
Christianity, capitalism, democracy, and the free flow of information has crushed nearly every collectivist empire, not right away, but over time in the history of humankind.
I had a guy comment on one of my videos the other day.
He said, when I said the desire to be free will always overcome the desire to push the beach ball underwater and keep human liberty and freedom extinguished.
And some guy laughed.
He said, tell that to the hundreds of millions who've died under Soviet regimes, China and elsewhere.
Fair enough.
Fair critique.
But I could also turn that argument on you.
Look at all the tyrants and despots and disgusting filth throughout humankind that have tried to put the beach ball of liberty and freedom underwater.
Ceausescu, Mussolini, Hitler.
The Soviet Union fell.
I'm not telling you it's going to happen overnight.
But it almost always happens.
Cuba is one of those rare exceptions where they've managed to keep an iron grip over people for generations.
Ideas have been dangerous to those regimes.
And the symbiote right now The Symbiote, one of our other viewers.
I enjoy your emails and your communication, by the way, immensely.
I hope you understand that.
I read them, I get a kick out of them.
I read as many as I can on video platforms, on social media.
I read your feedback on the show.
Someone said, you keep talking about the Symbiote, the Venom character, Eddie Brock in the Marvel comics.
And they say, Dan, he's not a bad guy, the Symbiote.
Venom is an antihero.
Fair enough, you got it.
But still, the Eddie Brock Venom symbiote.
We have a symbiote right now trying to crush freedom, crush ideas, and crush conservatives.
It's the media, big tech, government symbiote right now.
Here's our first story.
Newsbusters.
The story will be in the show notes.
Facebook overhauls platform.
Will reduce political posts and news feeds.
As if on cue.
How does the symbiote work?
I just told you what it is.
Media, big tech and big business and government all feeding off each other like, not so much parasites, but symbiotes.
There's a difference.
Symbiosis and parasitic activity are different.
They feed, they benefit from each other.
They don't suckle off each other and take each other's energy.
They magnify each other's energy.
So how did media, media folks and big tech collude to stop Ideas from getting out because ideas will crush their monopoly over what you should think.
Well, here's a quote from the Newsbuster's piece about how Facebook's now going to crush political pages like mine.
Facebook CEO Mark Zuckerberg recently commented, one of the top pieces of feedback that we're hearing from our community right now is that people don't want politics and fighting to take over their experience on our services.
Really?
That happened conveniently after CNN's hilariously named Reliable Sources newsletter, The Coffee Boy, George Costanza puts out at CNN, when they speculated on how major reforms to Facebook will target commentators, specifically popular conservatives.
Quote, Zuckerberg didn't elaborate on how Facebook might reduce political content shown to users in their newsfeed.
CNN senior media reporter Oliver Darcy wrote in the newsletter, quote, right wing pundits such as Dan Bongino and Ben Shapiro have built digital empires largely driven by their Facebook pages.
Will Zuckerberg move to put a dent in their business?
Here's Darcy, media clown, joker, one of the dopiest human beings alive.
And by the way, I'll show you about this clown in a minute.
The biggest grifter in the media right now.
How people have fallen for this utter complete buffoon scam is unreal.
Here's Oliver Darcy at CNN.
Who's bothered by me and my ideas because I exposed him as a fraud.
He was on the wrong side of collusion.
He was a hoaxster.
He was on the wrong side of Spygate, on the wrong side of the coronavirus story, on the wrong side of the HCL story, on the wrong side of Hunter Biden, and on the wrong side of Andrew Cuomo.
So Oliver Darcy's embarrassed because he pretends to be a journalist when in fact he's a grifting buffoon.
So instead of acknowledging his buffoonery and apologizing to the public for being such a moron, falling for the peepee hoax, what does Oliver Dopey do?
Oliver Dopey comes out and calls for the suppression of people like me and Ben Shapiro and others who exposed him as the fraud he is.
Standard totalitarian authoritarian move.
By the way, he just built our empire on Facebook.
That's actually quite hilarious.
Facebook.
We have, we're smarter than Oliver and Oliver's kind of embarrassed that he doesn't have a one one thousandth of the following I do, but we built empires everywhere.
Crush one, another one will pop up.
We're like the Hydra.
Cut off one head, 62 more heads appear.
I'm not kidding.
He can't, he wants to stop us because he's a communist at heart, but he'll never do that.
And it quietly drives him wild.
It drives him absolutely wild.
And Darcy in that piece where he says, you know, be a real shame if Facebook crushed their pages and tried to destroy their business.
This is the mob mentality of communists like Oliver Darcy, who's by the way, a sniveling coward.
If you saw him in person, he would run away from you and hide in a corner.
But Darcy, who's a fraud, this is him practicing the mob mentality.
Where he walks into the, you know, the deli in a mob-infested neighborhood and says, you know, I'd be a real shame if you didn't use our private sanitation here.
Well, I don't need your private sanitation, Mr. Mobster.
I have my own company.
Be a real shame if your place burned down.
Well, what does that have to do with me using your sanitation company?
I don't know.
You figure it out.
That's Darcy.
Be a real shame if Facebook took their pages down.
Not one.
I'll just start a new company, like I always do.
And pocket more money.
Seriously, I save everything because I'm prepared for the day when these people come after me.
Unlike these other idiots out there on the liberal side.
Here's Oliver Darcy.
Who likes to employ, you know, the real shame tactic.
It'd be a real shame if your place burned down.
Oliver Darcy, this is when he was at Campus Reform, is a former editor of digital media for Campus Reform, where he was tasked with reporting on waste, fraud, and abuse taking place at our nation's college campuses.
Additionally, Darcy was responsible for editing the website's video content and graphic design.
Prior to joining the Leadership Institute, Oliver founded exposingleftist.com.
A video-driven website dedicated to exposing the inherent failures found at the core of liberal philosophies.
Ladies and gentlemen, this guy, I almost admire his grift.
CNN is paying this utter buffoon because he failed.
He failed in conservative media trying to do the principled thing, then decided to sell his soul, went over and basically did a big smoke job on CNN and got them to pay him.
After founding exposingleftists.com.
What a buffoon.
All right, let me move on.
I wanna get to my second sponsor, but I wanna get to a warning and a serious warning and a fantastic piece by Glenn Greenwald.
I just showed you how media works with big tech, right?
Oliver Darcy writes in his newsletter, oh my gosh, Dan Bongino's Facebook page, that's misinformation.
Really, Oliver?
They called you out.
All of a sudden, Facebook and Mark Zuckerberg are like, wow, we really gotta crush those political competitors.
They all feed off each other.
And then Mark Zuckerberg gets protection from rackets like CNN who then don't attack him later.
Weird how that works.
I'm gonna get to this article next by Glenn Greenwald about the weaponization of language and the war on domestic terror.
You better be aware of it.
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All right, back to the show.
So I just showed you how the media, people like Oliver Darcy, you know, anti-civil liberties, anti-free speech totalitarians like him and the coffee boy at CNN, try to squelch any idea that challenges their hegemony over ideas.
And their ideas are wrong, ironically, and ours were right.
But I told you it was a symbiote and government was involved in that, too.
Well, government is involved.
Oliver Darcy's obviously some kind of a leftist, a totalitarian, that's what they are.
These big tech companies obviously are totalitarians.
Twitter celebrated when Parler got crushed.
Facebook's crushing anyone who's a conservative and tries to put out any kind of political idea people would like.
So obviously they're all totalitarian, so they share one big hive mind.
But how does government get involved?
This piece by Glenn Greenwald in his substack, please subscribe to it.
Glenn is not Glenn is a classical liberal, not a leftist.
In other words, he believes in liberal ideas.
He is not a conservative.
Again, I want to be clear so you understand.
So you don't think on this show that all we do is celebrate conservative ideas.
We'll actually cross the aisle when people have something substantive to say.
Because Glenn's a smart guy.
Glenn Greenwald's Substack.
Go to Substack and subscribe to his stuff.
It's amazing.
This will be up at BonginoReport.com today as well.
And if you want to read it, I always have an ask.
Again, I'm sorry, but I'm sorry for apologizing, but I don't like asking you stuff.
It drives me crazy when people ask me to do stuff.
Please go to my newsletter and subscribe.
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It's bongino.com slash newsletter and you'll see this amazing piece of work.
Glenn Greenwald, the new domestic war on terror is coming.
No speculation is needed.
Those who wield power are demanding it.
The only question is how much opposition they will encounter.
So the Rahm Emanuel, former Obama chief of staff, The Rahm Emanuel theory has always been, never let a crisis go to waste.
Well, the left is using the events of January 6th, of course, to initiate a new domestic war on terror, and they've been actually pretty open about it.
They're not hiding it.
Ladies and gentlemen, this is the weaponization of language which fills out the symbiote.
Government, big tech, and big business, and media.
The government is now using The incitement of language, the incitement of violence language and verbiage to tag anyone they disagree with, with in fact, that incitement to violence label.
And with that incitement to violence label, there is going to be an effort by the same government entities, government entities to use and weaponize government to shut you down and investigate you.
From the Greenwald piece.
It's a long piece, but it is worth your time.
Quote, neoliberalism and imperialism do not care about pseudo fights between the two parties or the cable TV bickering of the day.
Remember what I told you yesterday?
This is not Republican versus Democrat.
This is the elite bowtie wearing class that are all benefiting and massaging and sniffing each other's hair.
Them.
Big business, big tech, banks, big banks, the whole Robin Hood class, government, bureaucrats in the swamp versus the rest of us.
It's nothing to do with Republican versus Democrat.
Let me read that opening line again and it'll make sense because Greenwald recognizes this.
Neoliberalism and imperialism don't care about the pseudo fights between the two parties or the cable TV bickering of the day.
They don't like the far left or the far right.
They don't like extremism of any kind.
They don't support communism and they don't support neo-Nazism or some fascist revolutions.
They care only about one thing.
Disempowering and crushing anyone who descends from and threatens their hegemony.
Sounds like something I told you in the beginning of the show.
They care about stopping dissidence.
all the weapons they build and institutions they assemble, the FBI, the DOJ, the CIA, the NSA,
oligarchical power exist for that sole and exclusive purpose
to fortify their power by rewarding those who accede to their pieties and crushing those who do not.
(clapping)
Sometimes when you're on TV, they do a clap test to make sure the lip sync is good.
[BLANK_AUDIO]
Is the sound coming over right?
I actually would clap faster, but my elbows and shoulders don't work.
You're damn right, Glenn Greenwald.
Don't get lost in this Republican versus Democrat fight.
As I've said to you often, the Republicans are not the answer to your problems.
However, currently, the Democrats are the cause of your problems.
Meaning we have to focus on ideas and strategy.
And how to implement those ideas and strategy and not get lost in, well, let's dump the Republican Party label and call it the Patriot Party.
It doesn't matter what you call it.
You're still getting lost in it.
It's interesting how people say, I don't believe in the Uniparty.
Democrats and Republicans are all the same.
So I'm going to start a third party.
You're doing the same thing.
You're getting lost in the label and losing the strategy.
You have to learn to act collectively.
Like I said, the beginning of the show, how do you learn to act collectively by division?
How?
They're the opposites!
You've done a 180!
I want to learn to emulate the left.
Act collectively.
Fight for liberty and freedom.
Fight back against the totalitarian bowtie-wearing crowd.
The elitist snobs that have us all under ideological attack every day trying to squelch us.
And we're going to get this done how?
By dividing our forces?
It makes no sense!
We have to fortify our political power.
It's the ideas and the strategy.
It's not the label.
The ideas and the strategy matter.
It'll only be an election cycle or two before they take over, monopolize the Patriot Party too.
Don't get lost in the label.
Focus on the strategy.
I discussed in the show two days ago, not yesterday's show, but the day before.
How we're doing it now.
We're learning, sadly, how to boycott, too.
Economically boycott.
I wish we didn't have to do it.
It's stupid.
It is.
It's economically inefficient.
But the left is destroying the economy and boycotting good conservative companies and companies that are just free speech companies, like Parler, which I was a part of.
They're just doing it to crush them, not because they're not economically efficient companies or they don't provide a service, but because they don't like them.
The only way to fight that back is to act collectively and do the same thing.
I talked about how conservatives are starting to fight for seats on boards in companies.
I'll get to that at the end, too.
Leftists have done that for decades.
We've let them do it.
They've taken over corporate boards everywhere.
They're trying to do it right now with Exxon.
Look at GM.
GM just announced yesterday, we're getting away from gas-powered cars, moving to full electric.
Good luck with that.
I have GM stuck.
I got to get rid of that.
I'm just waiting.
I'm just waiting for the capital gains, the long-term capital gains.
Greenwald is right.
Stop getting lost in the labels and everything else.
The elites and the bowtie-wearing class, they don't care about Democrat versus Republican, so why do you?
They care about unifying, getting board seats, boycotting people that don't matter, crushing free speech, magnifying media voices that lie to you, and crushing media voices that tell the truth.
How are you fighting back?
We're dividing our forces into a third party that'll never work?
That doesn't make any sense!
We gotta recognize the problem and the strategy before we can defeat people who are trying to crush freedom and liberty.
We have to learn to spread our ideas.
I brought up on Wednesday's show as well, not to repeat the material, but how the left wants to destroy conservative truth-tellers on social media and on the internet.
They're going down the value chain.
Get people pulled off servers.
You saw what happened with Discord and Reddit.
Robinhood stops trading yesterday of a stock, incredible, a stock that free people wanted to buy.
A lot of reasons for that, but it happened.
Subreddits being pulled down where people are telling the truth about what they want to do about stock buys.
So what are we doing?
We're learning.
We're learning to use blockchain and other things to distribute information over the entire world internet.
What are they going to do?
Shut the whole internet down?
People said, don't give them any ideas.
They can't.
They can't do that.
It's not possible.
They can try.
It's not possible.
We're learning.
Now, I opened up the show by telling you, listen, this isn't us versus them fight.
Don't let anyone tell you otherwise.
It is.
And I know the commentator who said it, he's a smart guy, I'm not knocking him, but he was talking about the GameStop situation.
I want to explain that again in a minute, in simplified terms of what's going on, because I think still some folks don't understand why this GameStop story and the GameStop stock, I think their ticker's GME, It's a bigger story than just a stock and some hedge funds versus some retail Joe Average investors like us.
It's bigger than that.
It is an us versus them story.
Let me get to my third sponsor first, and I'm gonna talk about why this matters, what happened.
Paula loves this story, by the way.
Candidly, so do I. I'm gonna give you it in a nutshell, the finances of it, because it's fascinating.
And the Daily Wire folks, they have a movie out right now, Run, Hide, Fight.
They've got a movie production studio, good for them.
They need to pick up the rights to this GameStop story.
It's amazing.
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Okay.
Getting back to the show.
So why is this GameStop story?
Why is it an us versus them story?
You know, like I said, this commentator's like, oh, it's not really us versus them.
You know, hedge funds and puts and call options, shorting stocks and going long on stocks.
You know, it's not necessarily the worst thing.
Listen, I said to you yesterday, I'm not going to pile on and say, eh, hedge funds, I'm not Bernie Sanders.
Hedge funds are terrible.
A lot of, some of the things hedge funds do really are terrible.
Like shorting a stock and then going on TV and trash mouthing a stock to make sure the stock goes down so you make money and you're short.
That's pretty anti-American.
But shorting a stock is usually a counterparty.
Shorting a stock, meaning you're betting it's gonna go down, which probably isn't the greatest thing to do if you're doing it for nefarious reasons.
But if you're shorting a stock because a company really isn't doing well, then maybe it's a market signal to other people invested in the stock that, hey, maybe you should get out too.
And remember, there's always a counterparty.
So for a lot of shorts, there's people who've gone long.
Short, long.
People who've gone long bet the opposite.
They bet the stock's gonna go up.
So someone's on a counterparty to that on a lot of these transactions.
But why is this an us versus them?
Because folks, the reason people are understandably, and me as well, really candidly pissed off at the hedge fund Wall Street industry that's been funding Democrats and cycling people in and out of power in DC forever is because they have different rules than the rest of us.
We have every right to be pissed off.
And it's summed up incredibly in a Peace and Life set today by Steven Pomper.
And by the way, I saw this, to be candid, open, and honest, because I always am with you.
There's an app called Meltwater, and they send me an email every morning, and when your name or a website pops up in it.
So I found this article today because my name was in it.
I'm not putting it in there, though, because my name is in it.
I'm putting it in there because it's good.
It'll be in the show notes.
Bongino.com slash newsletter.
Read it.
It says, quote, no American unity is possible until people reacquire common American values.
I have a screenshot I'll get through here for a minute, but this is why people are understandably pissed off at that.
Retail investors who are using the Robin hood app got snaked by a bunch of wall street hedge fund guys because the wall street hedge fund guys get to play by different rules.
They short a stock for a company people believe in.
GME, GameStop.
They believe in it.
They put their own money behind it.
Whether they're wrong or not doesn't matter.
It's on them.
The Wall Street guy's logic is, oh, these people are stupid.
They're investing in a company that's not worth anything.
They're going to lose money.
That's fine.
They're free.
Let free people lose money if they want.
It's not your business.
Shut your pie holes.
So what happened all of a sudden yesterday?
As people are trying to either get into the GameStop stock to buy more of it, to defeat the short business on the hedge funds that are shorting it, betting it's going to go down.
People are buying it, betting it's going to go up.
Why else would you buy it?
All of a sudden they get shut out of buying it.
On some apps out there.
That sounds kind of rigged, doesn't it?
The Wall Street guys weren't shut out.
In other words, they're playing by a different set of rules than the rest of us.
Quote from the Lifeset piece.
Glenn Beck and Dan Bongino have been banging a drum in a recent chorus that makes infinite sense.
Unity is not possible until the people of our nation restore our common values.
Americans used to find uniting values in the principles contained within our founding documents, the Declaration of Independence, the Constitution, and supporting literature, the Federalist Papers and others.
Remember, the right has not changed their view of America and the striving to create a more perfect union.
It's the left that's changed, striving to create a more socialist union.
Amen, Brother Steven.
I've been warning you about this forever, and it's why the GameStop story is an Us vs. Them.
It's why the events of January 6th.
Have troubled so many people like me, who looked at that and said, there's no excuse for this.
It should be called out immediately.
It's not how we do business.
And yet the left still attacked us!
Look at the right inciting violence.
How?
How exactly was this show inciting violence?
How?
Do you even watch my show or are you really that stupid like Oliver Darcy?
I'm begging you on the left, the hacks that say this, to go back and view episodes over the years where we have repeatedly Multiple times.
Not to virtue signal anyone, but because I believe it in my heart and soul that the only path to a unified constitutional republic, unified in basic principles, not every single idea, there are going to be disagreements on taxes, on healthcare, on education, but we should be unified in basic things like free speech, the right to practice your religion openly, the right to petition the government, assemble and protest.
Those should be basic ideas we all agree on.
But the way to get any of that done is not through violence.
I have said that repeatedly because it's right!
Because it's right!
And yet with the GameStop situation in January 6th, the left were the people sanctioning violence by Antifa and BLM, openly sanctioning it, by in some cases saying, well, what's wrong with riots?
These are peaceful protests as people were burning down cities.
The left was doing that!
And I argued to you that you calling us out over January 6th when our principles have remained consistent.
I don't accept the violence of January 6th, nor violence anywhere else, and we've been consistent on that.
It's you idiots that haven't done it, and there's no unity going forward, and there never will be until we can agree on that common set of principles that we should be talking out ideas, not beating the snot out of each other.
Until we can agree on that unifying principle, there is no future.
What, we continue to preach as I've done in this show nonviolence while you punch us in the face?
No!
Stop talking about unity!
There will be no unity until we can all agree on a basic set of rules!
You can't have a boxing match!
An appropriate analogy right now, where one side comes in with a chainsaw, a knife, and no boxing gloves, and you come in with 20-ounce gloves and no headgear, and he's trying to saw your arms off.
That's not a boxing match because there are only rules that apply to one side.
Wait, I have to box and he gets to use the chainsaw?
That's not fair.
Wait, the left gets to sanction BLM and Antifa violence?
We call out violence everywhere and we're the bad guys?
Wait, the left gets to lie about collusion, Spygate, the WHO, coronavirus, Andrew Cuomo, Hunter Biden, chloroquine, Spygate, and everything else, and then gets to call us out for misinformation?
Wait, the left and their hedge fund billionaires that donated the majority of their money to Joe Biden and the Democrats because they provide a protective government cabal for them, they get to sell their stock and trade their stock and buy their stock whenever they want, but the mass, the great unwashed masses like us, we don't get to do the same thing.
And you're wondering, people like on cable news and elsewhere are wondering why we were pissed off about this GME GameStop story and we think it's an us versus them.
Maybe that's why.
Because it is.
Because it is an us versus them.
They have a different set of rules.
They do whatever they want.
And yet we have to abide by a separate set of rules.
No violence is their fault, no matter what they do.
Every piece of violence that happens is your fault, despite the fact that you've called for non-violence and you had nothing to do with the actual violence.
No, no, you've incited violence.
How did I do that?
We're talking about liberty, freedom, school choice, all that other stuff.
That's inciting violence now.
You are now a domestic terrorist.
Read the Greenwald piece if you don't think that's coming.
One set of rules for the elite snobs and another set of rules for us.
Enough of this trash.
It will be one set of rules for all of us.
And we are the ones on the side of that.
And until we turn their rules back on them, they'll never change.
They want to boycott?
We gotta boycott.
They want to organize?
We gotta organize.
They want to protest?
We gotta protest.
It's the only way.
Now let me explain this GameStop story a little bit.
On a little bit of a lighter note, it is a Friday.
It's been an interesting week.
How did this start?
I've been doing a lot of homework on this story.
So again, in a nutshell, GameStop is a stock.
A bunch of big hedge fund guys on Wall Street shorted it.
They bet it would go down.
It's very simple.
A bunch of retail investors figured out that their short positions, in other words, their bets, that the GameStop stock would go down.
A bunch of little guys figured out that they'd overplayed their hand on betting the stock would go down.
and bet it would go up and the little guys won.
Let me walk you through step by step how this started.
This is a really amazing story.
You know what?
Should I get to my, let me get to my last sponsor because this is a fascinating story.
I can explain it to you in five, 10 minutes, but I promise you're going to love it because there's more to it.
It's longer than it's been happening for a while.
It didn't just happen last week.
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Okay.
So how did this GameStop thing start?
This story is incredible.
Well, talking about the little guy versus the organized elite bow tie wearing crowd, There was a little guy on Reddit a while ago.
This just didn't happen yesterday.
I can't say what his handle was on Reddit because there's an expletive in it, but let's just say it started with deep.
It was interesting.
This guy on Reddit a while ago, again, this didn't happen yesterday.
He posted on Reddit in this WallStreetBets forum.
He posted basically his long play on GameStop.
Remember, shorting a stock means you're betting it's going to go down.
That's what you're doing.
I'll explain to you in a second how that works, simply.
But going long on a stock means you're betting it's going to go up.
So you acquire the rights to buy it at a certain price.
You think the stock's going to go to $1,000, and it's currently at $500.
You go long on it, and you buy the option to acquire the stock at, say, $550.
Great for you, because you think it's going to go to $1,000.
So if you can buy it at $5.50 and it does go to $1,000 and you can sell it at $1,000, you just made yourself $450 for each option.
Pretty nice, huh?
That's the reverse of a short.
So this guy, let's call him Deep on Reddit, he posted his long play on GameStop.
Apparently a lot of people thought that was kind of funny in this subreddit forum and were like, you know, dude, why are you investing in GameStop?
It's a retail store that buys and trades and sells and video games when most people are getting their online gaming now.
They're not trading in actual cartridges anymore.
It's not Atari.
So people kind of mocked this guy.
Again, let's call him Deep.
Well, Deep knew something.
Paul, are you liking this story already?
Deep knew something that other people didn't know.
I want you to go back and listen to yesterday's show where I saw in the beginning, I told you in the beginning, how knowledge is a good thing in markets, right?
If a company's failing and you own a stock, you'd want to know that, right?
That knowledge is power.
But what happens when there are knowledge asymmetries?
Free markets fail.
If organized bowtie-wearing groups of elites that hate you have access to information you don't have, Then they can take advantage and use that information, say they know.
That's the whole essence of insider trading, right?
If you get wind a company's gonna fail in an insider trading scheme and you sell the stock before everyone else does, you make out like a bandit while the great unwashed, all of us, get screwed.
Or as someone called them on YouTube yesterday, because I said the smelly people a lot, which I did, he called us the smellies.
While the smellies get screwed.
Knowledge asymmetries are a cancer to free markets.
But what happens when the knowledge asymmetries are not knowledge contained in the elite side of the fence, but when the great unwashed, all of us, we start figuring things out first.
Oh, all of a sudden the elite snobs on the other side of the fence.
Remember, it's a bifurcated society.
They don't want to be with us.
The elites start getting really upset.
Well, Mr. Deep had some knowledge other people didn't have.
What was the knowledge about GME?
Everybody was laughing at him, like, dude, you're betting GME stock's gonna go up?
What an idiot.
They sell games.
Nobody buys and sells games anymore.
Ha!
What a buffoon.
Not so much.
Turns out that our friend Deep on Reddit He'd done kind of a deep dive into GameStop and had some knowledge that the elites were either too stupid to figure out or just kind of gaffed off.
He knew GameStop had assets.
They had some cash.
And that they weren't as broke and bankrupt as everybody said they were going to be on the short side.
The big, super smart hedge funds that said they were going to go bankrupt.
So Deep went long and bet the price would go up.
Again, people kept mocking him and mocking him.
Well, what else did he know?
Knowledge.
Knowledge.
Strategy.
He not only knew that GameStop had cash and had some assets, so they probably weren't going to go bankrupt right away like the short sellers thought, but he figured out that the short sellers were so aggressively trying to crush GameStop That they had taken short interests about 300% of the float.
I don't want to get too technical here.
But they had shorted the stock, the super smart, being sarcastic of course, bow tie wearing elitist crowd.
They had shorted and bet against GameStock so much while talking it down, hoping the stock collapsed and the company went bankrupt so they'd make a fortune at your expense.
That they'd taken so many short positions that the available stock to short, their short positions were about 300% of the float, the stock available in the market to purchase.
Well, what's the problem with that?
Well, when you short a stock, follow me here.
Paul, if this gets confusing, stop me.
And Joe, take it off mute and stop me right away if it's so confusing.
When you short a stock and you bet it's gonna go down, it's very simple how it works.
You short it, it means you pay a small price to borrow the stock, essentially, from someone.
So you borrow the stock.
Let's say it's a $20 stock and you borrow it for whatever, a dollar.
You don't buy it, you borrow it.
There's a difference, right?
You then sell it right away, pocketing $20 plus the dollar you paid to borrow it, right?
Minus the dollar, excuse me.
So if you're doing that, betting the stock's going to go down dramatically, say cut in half.
So again, you borrowed it at $20, right?
You paid $1 to part, you sold it right away, put the $20 in your pocket.
You borrowed it, meaning you have to give it back.
Well, if the stock goes down like you thought it was by taking your short position, say it goes down to $10, and it was $20 when you bought the option.
Well, now when you have to give the stock back, you make a fortune.
Why?
Because you just go buy the stock back for $10.
You were right, it went down!
And you give it back to the person you borrowed it from, but you only bought it for $10.
You sold it for $20.
Your profit's $9, right?
Well, Dan, wouldn't it be $10?
No, because you had to pay $1 to borrow the stock.
Again, I'm just trying to use easy numbers here.
Does that make sense?
Joe, we good?
Paula?
So what's the problem?
Well, the problem here is you borrowed the stock and then sold it.
So if the stock fails to go down, you have to give the stock back.
You borrowed it.
Well, what happens when you borrowed the stock for a dollar and you sold it?
It's gone for 20, so you have the 20 in your pocket.
Yet, let's say the stock goes up to $300 plus, like GameStop did, which was trading below 20 at one point.
You have to go back in the open market and buy the stock to give it back.
But how do you do that?
You only have $20 in your pocket.
The stock's now $300.
The answer is, you go bankrupt.
Like a lot of these hedge funds were close to doing.
After they lost billions of dollars, having to reacquire stocks they borrowed they thought were gonna go down, that not only went up, but went up a whole lot.
How does this go back to our friend Deep?
Well, our friend Deep on Reddit realized that they had shorted the stock so much that the available stocks to buy, we call the float, right?
They had shorted about 300% of the float.
So he figured out in his head, not only is GameStop in a decent cash position or not so bad, but sooner or later, these people positioning in Wall Street for a crash in the stock and who bought all these short positions, They're gonna have to go back and buy back the stock they borrowed and sold.
But ladies and gentlemen, they shorted it so much, there wasn't enough stock to buy.
They shorted positions about 300% of the available stock.
Make sense?
Kind of creates an issue, right?
Because then when they had to pay to buy the stock that had gone up dramatically, now they're bidding against each other to buy back the stock they borrowed because there isn't enough stock to buy, which drove the stock even higher.
Now they're in a panic.
Deep looks like a genius.
Deep took the long position.
Long position means you bet the stock was going to go up.
It keeps going up and up and up because all these idiots who took the short position now had to go buy back a stock.
There wasn't enough stock to buy.
Deep figured it out that there wasn't going to be enough stock.
That they shorted 300% of the available stock and they're all bidding against each other in a panic to get the stock, to buy it, to pay it back to the person they borrowed it from before it goes up even more and they lose even more money.
As they were competing to buy the stock, not only amongst hedge funds that had shorted it, but amongst retail investors who were buying the stock too, betting it would go up, driving the stock even higher.
Deep understood some.
I say, I don't know who this guy is.
No idea.
Never met him again.
I'm not vouching for anyone.
Anyway, all I'm telling you is he knew something.
There was a knowledge asymmetry there.
Knowledge asymmetry is the elite bow tie wearing crowd has taken advantage of for years.
The inside baseball game up on DC, they know better than us, so they use it to screw us.
The stock game, they've known better than us for years.
The rules and regulatory game, they've known better than us.
They've used it against us.
They, the Bowtie class, they have used knowledge asymmetries, knowledge they had and acquired, in some cases illicitly, against us forever.
And now, when a little guy, Deep, goes and just gets knowledge himself, legally, by the way, from all I know, just looks at the GameStop float, looks at the short positions, looks at GameStop's cash, And uses it against the big guys and engages in this initiative that starts a popular revolt against short sellers.
Wall Street and everyone goes crazy.
Facebook is now shutting down groups that discuss the GameStop stock.
The subreddit was shut down.
One of the server companies pulled the server.
The SEC's investigating.
I'm hearing federal law enforcement's involved.
The Biden administration is following it.
Following what?
Following what?
Following the fact that Some Joe Average investor on Reddit figured out that the big guys were really stupid and used his knowledge to win in a game they've been using against us forever?
And all of a sudden, this is a national scandal?
Alright, two quick stories before we go for the day.
So let me just conclude by saying it isn't us versus them.
The us versus them is that the rules that apply to us don't apply to them.
They make up their own rules and then screw us.
And then we use their rules against them, knowledge asymmetries, boycotting.
They get pissed off and they push the beach ball under the water because they're totalitarians and they try to crush our ideas because if an idea spreads like Christianity, capitalism, democracy, and other powerful ideas, that means the end of them and their totalitarianism and they hate it.
They hate real warriors for liberty and freedom.
For everyone.
They hate that.
They use collectivism to defeat collective action for their enemies, ideologically.
I want you to read this story because it's a concern.
Again, moving on.
It's in the show notes today.
Ladies and gentlemen, this is a very serious thing and I am praying, and I do mean praying.
I don't say that as some kind of a joke or some kind of throw-in.
If we are attacked by an EMP, an electromagnetic pulse device, we are gonna be in a world of trouble.
And I really hope, I'm hearing people in the government are starting to take this more seriously, but my issue with it is there are people in the government taking it more seriously.
Because they're in the government and they don't know what they're doing.
Because they're in government.
New grid threat, Russia deploys a first strike weapon and China's ready too.
Read this piece by Paul Bedard, Washington Examiner.
Folks, the Russians are apparently preparing an electromagnetic pulse weapon that can defeat a lot of our mechanisms we are trying to build to stop it.
An electromagnetic pulse weapon would basically end most of humanity as we know it.
It's an atmospheric explosion.
That atmospheric explosion from this weapon would cause an electromagnetic pulse, obviously called an EMP.
That EMP would fry just about any electrical circuit out there not protected by some form of what a Faraday cage or else or typical type device.
Well, what would that mean?
That would mean a failure of the US electric grid where the pulse was detonated and basically the starvation of probably 60 to 90% of the United States of America probably within nine months to a year.
You may say, Dan, that sounds like an existential threat.
Yeah, it is.
And people need to take it really seriously.
They are not kidding around.
Another story now in the show I just want to bring up, showing you again how Exxon, even Exxon, you know, a natural resources company, you would think Exxon would, you know, be immune to, you know, leftist pressure being that they provide some of the energy we need.
Well, Exxon, their planning board and other changes amid activist pressure.
Story at the Wall Street Journal about how groups connected to California pension funds, in other words, pension funds that are made wealthy by your tax dollars are now pressuring a private company to give board seats to people who abide by leftist principles.
I warned you.
Different set of rules for them.
You work for the government, you get to do whatever you want on the activist front, including pressuring private industry to raise your gas prices.
Fascinating how that works.
Another guy who seems to live by different rules, Daily Caller.
Hunter Biden continues to hold the stake in a Chinese private equity firm record show, despite reports that he was planning to divest.
Andrew Kerr, the Daily Caller.
This story, where's this been on the nightly news?
That the son of the President of the United States, involved in the shadiest of deals with known enemies of the United States, is still financially involved with a Chinese Communist Party connected company over in China?
Or alleged to be connected to the Chinese Communist Party?
Isn't this... Where's the media coverage of this?
Nowhere.
Different sets of rules, as long as you're the bowtie-wearing class.
You have that video?
Show's gonna go on.
One final video.
There's a video of, uh, this is where we're going right now with masks as well.
Again, if you're on that side of fence, you know, if you, it's not just one mask now, now they want you to wear, they want you to triple mask.
Pretty soon it'll be 10 masks.
Reminds me of that segment.
Joe, remember?
Remember the segment was the seven minute abs from Something About Mary?
Remember that, Paula?
Seven minute abs!
I got an idea!
Six minute abs!
Six minute!
This is it.
One mask isn't good, not even two.
They're talking about triple masking now.
Triple masks.
Why not 16 masks?
Um, you know, I mean, what are they going to recommend next?
You know, plastic over your head.
Don't do it.
Seriously, don't follow there.
Triple masks?
Can you even breathe in that?
Look at this video segment.
Check this out.
The experts keep telling us that wearing masks is really about protecting others from ourselves in the event that we are contagious.
But, you know, if other people aren't wearing their masks or they're wearing them improperly, we need to protect ourselves.
So experts say you can double up with a tight weave fabric mask for added protection. Now, Virginia Tech researchers found
that doubling up these cloth masks increases the efficacy from 50 to 75 percent. A three-layer
mask could block up to 90 percent of the particles. Folks, that may be true, but has anyone
considered why that is?
You know, a 10-layer mask could probably block 100 percent of particles, along with the air that
that comes with it suffocating you to death.
Like, is anybody looking at the downside of decreased oxygen flow?
Of course that would work!
Why not quadruple mask?
I mean, again, it's just like, you watch this stuff, like, is anybody thinking any of this through anymore?
Oh, my.
And yet, yeah, we're the misinformation specialists.
Ridiculous.
All right, folks, thanks again for hanging in there with us this week.
We appreciate it.
This has been a road show, although it doesn't look like one.
Explain more later.
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