To show myself accountable, here is a picture showing the recent advertising spend of $100 to promote this petition "stop dishonest practices on the ASX and demand a royal commission". The money came from a few donors who contributed to a GoFundMe page that was created for this purpose. Unfortuantely it has not amounted in much success, especially as it was targeted towards young people whoch has been even less successful than targeting the older generation.
Make no mistake there is a war going on here. The war is against the hedge funds, asset managers and investment banks that make up our multi trillion dollar financial industry. And it is manipulating the stockmarket with algorithms, short selling and a complicit media which is what they do.
In regards to the "GameStop ShortSqueeze" over in the US. Some have expressed an interest to replicate this over here in Australia. Good Luck I say! But in reality, having spent a few years exploring avenues to expose manipulation in the stock market, it seems to me unlikely that it would work here in Australia.
Australia is well known to be a "paradise for white collar criminals". There are also too many sheep in Australia. People just accept what is going on. People arent even concerned that trillions of dollars of their going up superannuation money has been stolen off them by hedge funds, investment banks and fund managers.
To attempt a short squeeze like we saw on GameStop, the number one most short sold company in the US, we would need firepower. Imagine what we are up against. If we were to collectovely spend $1 billion to create a short squeeze on Australia's most shorted company (Webjet), it would just be a laughing matter to a company like JP Morgan who sit on top of the shareholding list as the custodian for other hedge funds who manipulate Webjets share price. As we saw with GameStop, as hedge funds were being brought down. other hedge funds came to their rescue. The difference between them and us collectively is we can scrap together a few million dollars while it takes nothing for them to bring out a few trillion.
What is more, we are likely to go to jail if we attempt to fight back against manipulation. While Section 1041a of the corporations act is supposed to protect us against manipulation, it is instead used as a weapon against us retail shareholders. This was the case in Australia with Mervyn Jacobsen who spent time behind bars when he fought back against short sellers who targeted his company Genetic Technologies.
Like a brown snake that chases after anyone that goes near its young, ASIC, Australia's financial regulator looks after the hedge funds, investment banks and asset managers who are manipulating, shorting, preying on vulnerable companies and looting the lot. Anyone in Australia who stands up against this is likely to be charged by ASIC under the same laws that were meant to protect them. What a scary thought!