What's going on moon gang, i hope that you're having an absolutely fantastic day and hey, i hope that you're having a pretty solid day in the market too, because things were pretty green, green, green. So in this video i want to give a quick little update about amc and gme in the overall market, but what i really want to focus on is it looks like there might potentially be a new scam based on amc, jimi and the apes. So i want to get into why i think this new amc token is looking pretty sus, at least to me i'll, be pointing out the things that are basically ensuring there's no way i'll personally be investing in it. So that's what i have for you.

Let's hop right into it to kick it off. Here's a very quick market recap: the overall market, very, very green s, p. 500 up one point: one: five percent: the queues are up: two percent. You have iwm, that's almost up two percent, the overall market indices, very, very green today, so hopefully you caught a little bit of that action and amc and jimmy did very, very well amc up.

6.4 and jimmy up four percent at 18.50 and almost 151 respectively. Just for those of you who are interested amc short interest, almost twenty percent cost to borrow two percent utilization 100 shares on loan 138 million. The only thing that i think is kind of interesting here is the cost to borrow still oddly low on amc, even though the utilization is maxed out now in terms of gme short interest of 21.5 percent cost to borrow of 8.4 a little bit more reasonable same Thing utilization maxed out and shares on loan of 20.5 million overall, pretty green day and if you're in amc jimmy some of these other crazy ones, a tyrion looking interesting varu doing very well, congratulations to all of you, but now let's switch it up to something that Concerns me - and i want to get into why i find this concerning why i think it's potentially a scam and then i want to talk a little bit about the community at large. The apes movement community announces the official debut of the amc token right away.

That's a little bit weird if it's the apes, why is it called the amc token a little bit strange in the naming of that, and i also want to make this very very clear, because if you're just getting to this part in the video and that's all You watch this is not backed by ryan, cohen, adam aaron, gamestop or amc. This is an independent effort. I want to make that very, very clear and right away things don't make the most sense. The amc token aiming to be the next 1000x gem in the crypto space.

Okay, that's cool! So is it just apes trying to make money or like what is this project? The amc token, the ape movement community token is proud to be the first token created to generate wealth for the holders by the social, slash meme coin status and expose the malpractices done in the financial systems nowadays, for the benefit of a few. In this manner, holders can go to the moon and establish a more fair, transparent and less corrupt financial system is a win-win situation. I admit that sounds good. That sounds awesome, but is it possible? Is there any plan here or is it just maybe like a pump and dump a rug situation? So whenever you see anything like this, i think it's good to go into it with an open mind.

So i dove into the white white paper, which i have right here: here's there you can find the website um i'm going to be going through it. So i don't even want to leave the link for you and i really don't even want to share it that much because i want to make it explicitly clear, i'm not a financial advisor. I can share what i'm going to do with my own money and what i'm doing with my own money is not touching this with a 10 foot pole and i'll be going over the reasons why, basically, to sum it up, i don't think they're going to pull Off what they are intending to, i don't think they actually even have a formulated plan like all this. This is the official white paper for the project and it honestly leads more questions than it answers anything all right, so you can come into it right away.

Our journey starts with a vibrant community and a new breed of investors somewhat true, but also okay, are they just trying to abuse this community? This might seem small to you, but it's important to me, especially if you're running, i guess a whole crypto project. A lot of spelling errors, gamestop should be one word, a cat and mouth game. It should be cat and mouse um and throughout this every single page there's various grammatical errors and misspellings, and that might seem small and i get it, but also. What does that tell you about the people who made it then, like shouldn't there, be an attention to detail um to me: that's a small red flag.

Maybe that doesn't mean anything to you, but when i'm looking at something that i'm about to put my money in, i want there to be a hyper amount of accuracy. Also, when you go out through this uh, it talks about naked shorts, a buzzword, a couple other weird grammatical things going on. There's no discussion about market makers. There's no discussion about payment for order flow.

I feel like a group that is allegedly a part of the overall ape community. You think that would be somewhat discussed, but maybe once again that could just be a small red flag. Let's get into more of the serious stuff, the amc token was created with a mission of generating wealth to the holders by the mean coin status, along with exposing malpractice is done in the financial system nowadays, for the benefit of a few. In this manner, we can go to the moon as well as establishing a more fair, transparent and less correct financial system.

It's a win-win situation. So that's a lot. That's a lot! A lot you're gon na make people money and also fix. What's going on with the market, you know at first that seems like a tall order, but maybe they can pull it off.

It's the very next thing that all of a sudden makes me like yeah, i'm done with them. The amc token team, the community of retail investors and the token holders will work together to create a situation where the company may want to acquire the tokens and grant them as a symbolic award to each stockholder in the proportion of their holdings for their loyalty. So what you want to create a situation which, who knows what that means, then you want to either give them or sell them to amc and then they're going to be given back to the holders. How would you pull that off? I see what you're going for of like okay, every distinguished holder would have their own nft, so you could track it, but there's nothing about the plan.

Adam aaron is not on board with this you're using the eight movement. There's nothing really about gamestop in here. Besides a misspelling of gamestop, if don't like that, don't like that, but hey! Maybe it's just me: let's keep going on so you can read more about the path and what they want to do. It's a lot of once again buzzwords of that people like here in this community, but once again, no real, like clear plan here: another typo decentralized finances um, one to ten.

I think when it comes to money, it's okay to expect a hyper attention to detail in our commitment for transparent and fair financial system, the team came to the conclusion that the most logical approach for this to be true would be to renounce the ownership of the Majority of the tokens that are in existence and vast invest half of team liquidity, so the true holders of the tokens would be the community once again majority, okay. So what you're going to give up 51 you own, the other 49. You hope that the ape community buys it up, and then what are you going to do tying this back to what we saw before you're just going to give it over to amc and then they're going to give it back, even though these now have value? There's just it seems like two very distinct things and just like high level interesting sounding concepts, but then, when you get into not even into the deep level just into the meaning, like anyone could rip this apart, there's no solid plan. How is this gon na work? Like just apparently you're gon na q2 of 2022 be worth 100 million and then q3 200 million that's just i mean i could write that sounds fun, just okay, 100, then 200 and one quarter, and we also are now all rich and we also fix the market And we think that amc will take it off of us, even though we want it, because now it's a thousand x gem, remember they're trying to what are you? Are you a thousand x gem that you're just going to give up, and then i guess, get back or like to me it it's just all.

It is, is word vomit using verbiage that is popular within the community. Obviously, i'm not a financial advisor. Do whatever you want with your money, it's your money, but what i can tell you is that i'm not going to be touching it because it seems like a rug. Why would i invest in something that seems so sus, but i do want to talk about something here.

I understand the reasoning behind this is this? Is there bad intention? I hope not? Maybe it's just something that wasn't fully thought out. Maybe it wasn't something that was properly executed upon, but i would like to think that there's good intention, it's bringing up valid things of hey. Can we like maybe get an actual account of who owns what and where the shares are. That's, i think, something as an investor fair to ask for and then there i was cracking some jokes on twitter, it's kind of funny that lmnop is more legit than amc token, solid investment versus a rug.

Obviously, i'm just cracking a joke there, but i saw an interesting response that i think it's fair to address, because i think it's um in a certain sense, symbolic of some of the opinion of the community right now, not just for amc but gme and also the Apes in general, you know what would be legit is the leader of the company advocating for the investors. I'm tired and a lot of us are i've, sacrificed a lot and i'm sure a lot of others have too uh it's time for leadership. To take a more active role in the advocation of its investors, uh shout out to nick. I appreciate no.

I truly truly appreciate you saying this, because i think you were spot on with how many well how people feel you know what in a comment below. Let me know if you have the same sentiment as nick, because i do i am right there with you like truly, i know sometimes when it gets into the influencer content creator of like the weird hierarchy. Folks, i want you to know that, like i'm right there with you, i don't have some special connection to adam aaron. I don't have some special connection to ryan cohen, i'm there.

I just happen to scream at a camera during the day, but i put my own money and, as i've showed you on twitter on amc alone, i'm down hundreds of thousands of dollars. Obviously that's apparent not locked in yet, but we'll see how this goes. We will see how this goes. I this sentiment and it's hard to articulate, and i think you did a very, very good job.

Nick people are tired and, at a certain point, it's fair to feel like okay, like the people whose back we have these companies, does the leadership within those companies have our back and obviously, there's going to be a myriad of opinions on this particular matter, but and Also, we could talk about the sec, but let's first start with the company here right there. Let's just use one little example: why with every company, but let's just use amc and jim an example at every single quarter, why can we not have a new share account? A share recount is not going to expose synthetics, we saw that in june, but i would love to even just know the information of how many holders are there. What's the average amount of shares that they hold just even that type of a thing to understand. What's going on in this ape community at the bottom line, the apes saved both amc and jamie and i think it's fair to say: okay, maybe the leadership team should be a little bit, give a little bit more acknowledgement to the apes rather than what some people Would be perceiving as lip service, i think leadership teams at both companies have done certain things to one degree or another, but then it brings up the fair question: have they done everything in their power? And i get that that's another fair argument of like yeah? They have the next thing is actually the sec and that's another obvious things that, like i, i don't think any of you listening right now need to be like informed that it just seems like what in the world is the sec doing.

Maybe it's something that's going on behind closed doors and they don't want to like. Let people know what they're doing just i don't know about evidence and all that type of stuff potentially, but i also understand the sentiment that it doesn't necessarily feel that way. It feels like sometimes there's no one in our corner with that. I want to let you everyone know, and maybe this isn't going to come off right, but just remember it's the other apes.

It's the other people who feel the same way as nick they're. The people in your corner, it's these other people who got into it, who knows when and day over day, they're just trying to learn more about the system and they're trying to call it out, and i honestly think it's even bigger than just amc and jamie. Obviously, i think it's really bad, what's just allowed to happen in the market where's the sec, but then you can go even bigger if you're, looking at how wall street's connected to politicians, all this trading, that really looks like insider training, it's a big big mess. So i think that general sentiment, i would argue, the person who has your back is just the other ape in your corner and obviously fingers crossed that it plays out as well as it possibly can, and all i know is for us to have a shot for Us to even have like a little bit of a shot here.

We have to go through proper steps as getting petitions voting, making your voice heard so right here, um. We, the investors and we've, talked about this before, but we're almost up to 70 000 votes, and this is one little step in the right direction. Obviously, it's going to be a much much larger journey. I have like no visions of grandeur that this will automatically solve everything, but this in our current system is how things get done.

You show up and votes count. Petitions count it's that type of a thing that all of a sudden when you're, impacting like people getting elected in their jobs, that's all of a sudden, when, surprisingly, they start listening to you. Those are my thoughts. I would love to get your thoughts and a comment below, but on today's trading action.

Congratulations to everyone who made a bit of money. There was a lot of green. I hope that you got a piece of it i'll catch you in the next video. If you want to help me out the algorithm drop that like subscribe up to the moon, gang and i'll catch, you later have a beautiful day.