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Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
Bloomberg Opinion: GameStop Is Rage Against the Financial Machine
I know, everyone is tired of hearing about Gamestop, but this was something I came across that I thought was actually quite well written and pretty spot on with most of the anger driven rhetoric I've seen on Reddit. I've copy/pasted because I know most of y'all don't have Bloomberg subscriptions.
Traders putting on the short squeeze aren’t motivated by greed. They’re engaged in an anger-driven uprising against the establishment. Anger Is an Energy The saga of GameStop Corp. continues. By the end of another frenetic day of trading Tuesday, the stock had just topped its high from Monday. Between those peaks, it staged a fall of more than 50% on Monday afternoon. Colleagues have followed these extraordinary developments as they happened. I will try for now simply to process the single most important question: Is this just a weird technical situation, of the kind that comes along every few years, that can otherwise be safely ignored? Or does it tell us something important about market conditions as a whole? GameStop's share price surged back to set a new high Purely qualitatively, based on what I have witnessed, I think it does matter. The signal it sends is disquieting, if not surprising. It also introduces us to a new variant on an ancient market phenomenon. The cliche is that market capitalism works on the balance between greed and fear. The standard defense is as follows: If the greed to make money by beating the competition is matched by a fear of failure through making too many mistakes or cutting corners, then capitalism works. Nothing else yet discovered gives people such an incentive to work and create growth. Speculative bubbles happen when greed becomes excessive, or when fear diminishes too much. Easy money and easier trading with derivatives oil these emotions and allow them to run riot. The financial crisis of 2008 happened in large part because years of policy had convinced investors that there would be a bailout if they failed; they lost their fear, and greed took over. This feeds into the debate over whether we have a speculative bubble at present. Markets are pervaded by gloom and worry, so there is no lack of fear — even if confidence that interest rates will never rise is growing excessive. Meanwhile, there is little in the way of greed. Cryptocurrency has generated excitement, as has Tesla Inc., but in the main the frenzy over a historic opportunity to get rich, of the kind that was everywhere in 1999, is lacking. This is a different, worried world. The last two decades have stripped it of its positivity. The mood is nothing like the great bubbles of the past. Instead of greed, this latest bout of speculation, and especially the extraordinary excitement at GameStop, has a different emotional driver: anger. The people investing today are driven by righteous anger, about generational injustice, about what they see as the corruption and unfairness of the way banks were bailed out in 2008 without having to pay legal penalties later, and about lacerating poverty and inequality. This makes it unlike any of the speculative rallies and crashes that have preceded it. On Monday, I argued that it was misplaced to take pleasure at the pain for the short-sellers who had attacked GameStop stock, and then been subjected to a “short squeeze” for the ages by traders coordinating on Reddit. I received a bumper crop of feedback. Here are some representative samples (leaving out many with unprintable expletives):
“You kind of miss the point of what is going on with GameStop. How much did Melvin pay you to write this garbage? shill. Literally trying to protect an industry trying to fleece jobs from low income workers. Sleep well chump.” “Watching entitled institutional shorts whine on TV and OP EDs that millennials equipped with margin accounts & zero fees are collaborating on Reddit to target them is my new favorite sport. Looks perfectly healthy from where I'm sitting, which is on bull side :) plus 1 for the little guys.” “Normal isn't putting the retail trader down for being independent while organized hedge funds force you to take their way or suffer in fear. Normal is the American dream and being able to make your own way. This isn't a casino. This is a riot.”
One respondent warned that the people squeezing the shorts aren’t “a herd of impressionable youngsters with Robinhood accounts. No. They are an experienced & ruthless army of insomniacs followed by a silent legion of rapidly learning new traders. This is a new paradigm that won’t go away.” Another told me I was a “dumb boomer” amid a screed of unprintable epithets. (Point of information: I’m just too young to be a boomer. I’m in Generation X, but it’s the intergenerational antagonism that’s noteworthy.) Another said that the short squeeze was just a way for millennials to recoup the money they had been forced to pay to bankers during the TARP rescue 12 years ago, and to put coronavirus relief checks to work:
“In other words, poor people have too much money and are now controlling the narrative. Damn those $1200 stimulus checks and $600 unemployment supplements. Too much liquidity, let's get these folks back to living paycheck to paycheck.” “I know. Democratisation of the market is so damned inconvenient for those of us with money.” “nobody cares about your hedge fund cronies!” “Bloomberg defending the suits. Not surprised. They’re just mad the rubes are in on the joke now. Might this force the Fed’s hand? Too many regular people in on the game.”
This is all fascinating. In the space of 12 years, the role of the short-seller has turned on its head. Back in 2008, it was the shorts who upset the status quo, revealed what was rotten in the state of Wall Street, and brought down the big shots. They were even the heroes of a big movie. It was the Wall Streeters who attacked them. Alienation has deepened since then. Short-selling hedge funds are now seen as part of a corrupt establishment, as is the media. The motives of anyone defending the shorts, or anyone wearing a suit, must be suspect. And there is a deep generational divide; those unable to own their own home and forced to rely on defined contribution pensions have a stunningly unfair deal compared to those a generation older, living in mortgage-free homes with guaranteed pensions. That percolates into anger, and a determination to right the scales by making money at the expense of corrupt short-sellers. We lack precedents for an angry bubble, so predictions are even harder than usual. But there are enough similarities with past incidents to raise serious cause for concern. First, the little guys have had their success so far with the aid of margin accounts, and by using derivatives. We know what happens when these things are used to excess; even the Dutch tulipmania relied on margin debt and derivatives. Little guys (and everyone else) deserve safer tools with which to build wealth. Second, “democratization of finance” isn’t new, and in itself is nothing that anyone can object to. The problem is that investment and financial planning are difficult, and require time. Regulate these things, and you no longer have true democratization. Leave people free to take chances, and you get disasters like the bursting of the dot-com bubble in 2000. That also followed plenty of hype about the success of the “little guy,” and the first great explosion of online discount trading succeeded in sucking an army of new retail investors into the bubble’s final climax. Unregulated “democratization” led to the little guy bearing the brunt of the losses. “Democratizing” finance also leaves newly enfranchised financial citizens prey to spivs and frauds. I started my career covering the disastrous repercussions of one of Margaret Thatcher’s last reforms in the U.K. — giving people the right to leave their defined-benefit pensions, offered by employers, and take on defined-contribution “personal pensions.” Unscrupulous salesmen persuaded miners, firefighters and police officers to abandon copper-bottomed index-linked pensions for plans that came burdened with excessive charges. It was a repellent spectacle, and the bill for compensation was in the billions. These points doubtless make me appear to be a complacent shill for the financial industry, talking down to the rubes. For the record, I’m still angry about the way workers were ripped off in Britain more than three decades ago, and about the way the little guy ended up bearing the brunt for the financial implosions of 2000 and 2008. But it looks horribly to me as though the same thing is going to happen again — and I don’t think the answer to today’s many ills is to empower poor people to bankrupt themselves with margin accounts and derivatives. Anger, even more than greed, has the capacity to make us throw caution to the winds. Many of us have a lot to be angry about. If this carries on, and spreads beyond targets like a video-game retailer, I don’t want to see the consequences when history’s first angry bubble bursts.
Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
Host or participate in Heists - Min. Level 1 / to participate; Min. Level 12 / or own a high-end apartment to host
I'm a millionaire already, just give me a grind:
CEO Import/Export Vehicle Work by Psychko - Currently most reliable and profitable money grind with high end only method - Min. Level 1 / if you already own a CEO office / if you do not own a CEO office
Do an I/E sourcing mission, then do VIP work (Headhunter or Sightseer are a breeze with a Buzzard) in the cool down, then do an I/E delivery mission. Rinse and repeat!
Earn 2000-3000RP per source delivery, 5000RP per sale delivery. Buy 1 crate and sell immediately for maximum RP since the same RP is given whether you source/sell 1 crate or multiple.
Earn 200-600RP bonuses when you stay near the CEO/VIP's location
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