Today, I point to one example of what I call phantom advertising.
I don't think anyone else caught this and I certainly have never seen anyone write about it, so I wanted to alert the public to this type of deceitful trick used by media.
As you can see from the red text I have written to the right of the image below, CNBC only reports Robinhood as a broker that has made similar announcements regarding Chinese stocks being removed from indexes.
The article makes no mention of large, well-established, credible brokers like JP Morgan, Merrill Lynch, Morgan Stanley, etc. It doesn't even mention discount brokers such as Charles Schwab, TD Ameritrade, Fidelity, all of which have trading apps.
Some might be asking, "What does it matter? It's not hurting anyone."
The reason why this type of deceitful "phantom" advertising is detrimental to the public is because it demonstrates that CNBC is willing to deceive its audience in exchange for money.
And when you're talking about a financial network that focuses on reporting about companies and stocks, it's not difficult to see how this kind of behavior (deception in exchange for money) can create a very dangerous situation for people foolish enough to watch CNBC.
As you might recall, Robinhood would later be fined by the SEC for failure to disclose that it was receiving payment for sending customer orders to private market makers (payment for order flow) who continue to defraud the public such, as Ken Griffin's Citadel.
Today I'm not going to discuss why payment for order flow opens up all kinds of opportunities to defraud investors, or that it threatens to cause huge problems in the stock market. I've previous talked about this.
Mike Stathis Exposes Robinhood as a Criminal Operation in 2018 and Tips Off the SEC
GameStop Reddit Crew Should Launch a Campaign Against Robinhood
How Sheep Progress into Hucksters. Case Study from YouTube Kid Pumping Robinhood
E Trade Crooks and Michael Lewis HFT Scam
Several years prior to Robinhood being fined by the SEC, I pointed out that it was selling order flow. It was obvious to me.
But CNBC also must have known.
How else can a trading app make money of it offers free trades?
What this means is that CNBC participated in helping Robinhood defraud customers.
Let me be clear. Payment for order flow is a criminal business being permitted by the SEC because the same cabal who runs the SEC is also involved in defrauding investors through payment for order flow. This includes media companies like CNBC who advertise for Robinhood.
Finally, like all trading apps that offer free stock trades and therefore rely on selling order flow for revenues, Robinhood is a crooked company that's ripping off its investors.
The real customers of Robinhood are hedge funds that buy its order flow.
Those who use Robinhood to buy and sell stocks are pigeons who are unknowingly sacrificing their money to fuel a criminal operation.
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