The most important roundup of news for AMC June 21 2021
- AMC = Automated Margin Calls
The SEC will almost certainly approve SR-NSCC-2021-002 on June 21. In addition to Gensler’s publicly stated goal of disarming hedge funds, the SEC’s approval of all other proposed rules thus far indicates that they will also approve 002. This is a critical development, as NSCC-2021-002 would automate the margin call process when/if a daily report indicates that a member is overleveraged. It removes the “human element” from the process (i.e., machines can’t be “paid off” or otherwise “convinced” to look the other way).
Accordingly, pursuant to Section 19(b)(2) of the Act7 and for the reasons stated above, the Commission designates June 21, 2021 as the date by which the Commission shall either approve, disapprove, or institute proceedings to determine whether to disapprove the proposed rule change (File No. SR-NSCC-2021-002).
It’s also important to remember that NSCC-2021-801—which passed with no SEC objections in May—automatically goes into effect after NSCC-2021-002 gets approved!
Once 801 enters effect, all hedge funds holding short positions will be monitored every single minute. They will have to report every single minute their value in short positions versus their actual money on hand. If they fail to report or their short position value crosses the threshold where it is higher than their money on hand, it’s an immediate warning to deposit the funds needed to cover within ONE HOUR. Failure to do so leads to the NSCC immediately overriding operations and liquidating the hedge funds entirely, one after another until all that is left is the trillions in insurance.
- People will be returning to AMC theaters in massive numbers!
- How dumb are hedge fund managers? Very dumb, apparently. Instead of covering, they keep doubling-, tripling-, and quadrupling-down! Thanks for the extra rocket fuel!
- The SEC continues to turn a blind eye to hedge funds’ blatantly obvious, coordinated manipulation of both AMC and GME.
- Here’s a funny-as-shit video because . . . why not? Watch until the end.