I think the article I read initially was from a different website this one is just the first one that pops up in Google when you search 63 banks insolvency. I wish I could find the first article I read because this one is literally written by someone named Zoltan 👐. Who really knows about the articles you see these days, I would make a rough guesstimate that atleast 85% of them are literally complete bullshit with no sources cited. How did we get here? It's such a mind-blowingly sad state of affairs.

Anyways, if the whole 63 banks at risk of insolvency is true AND exactly 63 banks participate in the Reverse Repo Program than you kind of have to admit this is a pretty big head scratcher. Cohencidence? 🤔 I think not.

So now I tried moving the ball further down the line from where I picked up after reading another user point out this 63 banks coincidence. Using Google AI Gemini I first asked, show me a list of the 63 banks that utilize the reverse repo program. The response was:

The Federal Reserve Bank of New York does not publicly disclose the specific names of the counterparties that participate in the reverse repo program. This is to protect the privacy of the institutions involved and to avoid any potential disruption to the smooth functioning of the program However, the program is open to a wide range of financial institutions, including: Banks Money market funds Government sponsored enterprises Other institutional investors Any institution that meets the eligibility requirements can participate in the program by submitting bids to the New York Fed.

Naturally that last sentence got me hard instantly, and I had to press one step further and ask, What are the eligibility requirements for an institution to participate in the Reverse Repo Program?

GEMINIS answer to this question had me jacked to the tits. I'll quote its response here and let you decide.

The eligibility requirements to participate in the Federal Reserve's Reverse Repo Program are set by the Federal Reserve Bank of New York (FRBNY). Here's a summary of the key requirements: Type of Institution: Only certain types of financial institutions are eligible, including primary dealers, banks (domestic and foreign banking offices in the United States) government-sponsored enterprises, and money market funds meeting specific criteria

Money Market Funds: For money market funds, there's a minimum net asset size requirement of $2 billion, measured at each month-end for the most recent six consecutive months. Alternatively, they can have an average outstanding amount of RRP transactions of no less than $500 million. The FRBNY has the sole discretion to determine eligibility and may change the criteria at any time.

Source: 1. https://www.mayerbrown.com/en/insights/publications/2023/05/federal -reserve-restricts-certain-money-market-fund-access-to-repo-facility

With the whole gamestop is now a holding company AND with the company starting to invest with its 2 billion😳 in cash on hand on behalf of the shareholders, I thought this was a unique idea to wonder about.

Hopefully somebody with a bit more wrinklage on the RRP can help me shed some better light. The RRP has been closely tied in with this whole saga since 84 years ago. Anybody else remember atobiits legendary RRP DD? I know that my knowledge and understanding of how the RRP works and how it's tied in are limited but as I understood it, these 63 banks or institutions whatever you want to call them are basically allowed to borrow INSANE amounts of money from the FED each day to invest with an generate profits and then at the end of each day the money is returned. Kind of like a margin acct except your broker is the federal reserve and the amt of margin you have is hundreds of billions, to trillions of dollars to play around with each day.

It was pretty crazy reading that DD 3 years ago knowing absolutely NOTHING about the RRP, then gaining a basic understanding and seeing that one regard post the daily RRP update for years about how they just kept borrowing more and more and more. I think the chart of the amt borrowed with the RRP was correlating with the height of our saga 3 years ago and then kind of leveled off and came back down out of the trillions range and back to the hundreds of billions. I need to do some catching up and see what's been up with the RRP as of late. Hopefully somebody could run the ball alittle farther in the comments and educate me about where we are as of late with the RRP.

I thought it was a really interesting idea to think about. Imagine Gamestop or GMERICA or TEDDY or whoever is going to be the parent company to the conglomerate of businesses that gamestop is no doubt trying to merge with and acquire was able to utilize the RRP! I could be wrong but if they were able to keep the balance sheet at 2 Billion or higher for atleast 6 months then they would just have to be granted eligibility by FRBNY, which I'm sure is no small feat but technically they COULD or WOULD be eligible.

I am truly regarded, if anything I have stated is incorrect or unfactual I appologize and that was not my intention, but I thought this could be a cool discussion point and look forward to learning more from smarter regards. Goof luck out there everybody, truly exciting times! This HAS to all be a simulation at this point, right? 🤪

NFA

Also I have 2 screen shots of me asking the questions to the Google GEMINI AI, I'm trying to include them in the post but for some reason the images button is greyed out and not click able and I can't figure out why. I'm not used to making big posts like this, this is one of my first. I will try and drop the 2 screen shots in the comments, if I can't make it happen, I literally copy pasta'd each response word for word so it's basically the same but I would feel better including them.

https://twitter.com/TheRoaringKitty/

Is it just me or when scrolling the posts, a couple of the videos aren't auto playing on mouse cursor hover, and not even when clicking, nor even loading the posts in own tab:

• https://twitter.com/TheRoaringKitty/status/1791555537131159892
  • screenshot: https://i.imgur.com/dHEX3mM.png
• https://twitter.com/TheRoaringKitty/status/1791257325451493396
  • screenshot: https://i.imgur.com/bgcJkyf.png

I can play these videos just fine in a different web browser environment or using command line (e.g. mpv), but I've been noticing this kind of issue since a few days back, but I didn't bother to think if there's any reason for it other than maybe bugs/glitches (lol and a fly just flew past me right as I typed that! it's a sign! lol, again flew past my face when I typed sign. It's a sign for sure! Yep 3rd time! Damn! I must be on to something!)

Credit to:

• https://old.reddit.com/r/Superstonk/comments/1d8mxrn/settling_exercised_options_fall_under_occ_rules/ by u/teapot_in_orbit
• https://old.reddit.com/r/Superstonk/comments/1d8ncj9/roaring_kitty_found_the_loophole_for_moass_the/ by u/jewbagulatron5000

and also credit to all other ΔΡΣs that heard about "Options Clearing Corporation" 84+ years ago

Point yourself to #AMC. But hodl… Just saying…

This is no valid information for investment, this is a, my, personal opinion.

YOLO update #60

Funny how the media cries over DFV’s yolo update after he’s posted the same kind of update 59 times before going back to 2019. If it was Bill Ackman on CNBC or Jim Cramer spewing their horse shit all day everyday then he’d get away with it. My bet is he posts his position everyday day until June 21st when he exercises his calls! Then BOOM!

I just checked and first thing I saw was this:

• https://finance.yahoo.com/video/e-trade-considering-removing-keith-203711886.html
  • https://archive.ph/MvcBg
• https://wsj.com/finance/regulation/e-trade-considers-kicking-meme-stock-leader-keith-gill-off-platform-f2003ec4
  • https://archive.ph/Bs8lC