4 ms·
I think you misread the situation. People with money who can spend their time following the markets and the real news but also can pay other people to do this,
by GoToRO 2y ago
I think you misread the situation. People with money who can spend their time following the markets and the real news but also can pay other people to do this, found out earlier than the average person will, about the collapse. So they planned on selling at the highest price possible. To do this, they buy an article on a "newspaper", or maybe they own the newspapers, to tell the average person either to buy, or at least to not sell, because look "the markets are great!"
There is a psychological effect, when you hear the same thing multiple times and even from different sources. People tend to believe it. The problem is that the many different newspapers are controlled by the same individual. Also when you meet your friends and talk about it, they will tell you the same story. And you tend to believe it, because they are your friends. But your friends probably have the same life like you do, so they read the same newspapers. So they shouldn't count as "another opinion".
- johnnyanmac 2y agoIsn't this basically just insider trading, if not outright fraud? That sounds highly illegal.
- Ekaros 2y agoNot insider trading, but market manipulation certainly. Though as everyone doing it is mostly big enough only those doing it on things like reddit have any chance at all to get charged. Insider trading would require some material knowledge specific to inside company. Taking a position and then getting others to take same position is not that.