all the 'meme stonks' followed the same open
totally normal
totally not gonna crash it all
thanks for the heads-up Mike
https://old.reddit.com/r/GME/comments/mil875/michael_burry_handed_us_the_missing_piece_on_a/
Consequences TLDR - thanks u/Anarchist73 (Note, everything is still speculation);
"This post finally made me understand what was trying to be said by the everything short post and Micheal burry. Essentially these rehypothecated treasuries are being used as AAA collateral the same way Synthetic CDOs were being used as "high quality" investments or collateral. Except there are no real bonds if you look under the hood. It's all derivatives, the collateral doesn't actually exist, and the entire systems leverage ratios are far in excess of what anyone believes it to be."
Important Note From Me: I do not personally agree with the conclusions drawn in the EVERYTHING short. The post does not imply the entire systems leverage ratios are in far excess either (we have no upper bound context), so take that with a grain of salt. Neither does it imply fraud is going on like back in 2008. We simply do not know.