RIGGING THE MARKET: THE SECRET MANEUVERINGS OF THE PLUNGE PROTECTION TEAM by Mike Whitney

hey.....BMG..


welcome abord..


THIS IS WHAT I HAVE BEEN TALKING ABOUT...


as we all open our eyes.......what do we see?????

for the ones that opened there eyes


[link to godlikeproductions.com]

We are in some of the weakest timeframes historicaly and the market is going up ??????????????

The Plunge Protection Team is a working group of high-ranking officials from the Dept. of the Treasury, Wall Street, and the Federal Reserve. Its purpose is to establish the protocols for preventing another incident similar to the stock market crash of 1987. In the event of a steep decline, the team is prepared to buy large amounts of equities in an effort to stabilize the market.

Some people believe that the government has no right to interfere in the activities of “free markets”. Others think it is a prudent way of staving off economic collapse. Still others believe that the intrusion of government, aided by the privately-owned Federal Reserve and the NYSE, naturally favors the larger institutional investors and creates an uneven playing field for small investors.

Whatever side one is on, it is proof-positive that “free markets” are merely a public relations myth with no basis in reality. The preservation of the system takes precedent over the lip-service to ideology; the “invisible hand” will always be overpowered by the manicured and mettlesome fingers of banking elites and Wall Street big wigs. This is their system and they’re not going to let it be obliterated by some foolish commitment to principle.

The Plunge Protection Team was first uncovered in comments by Clinton advisor, George Stephanopoulos on Good Morning America on Sept 17, 2001. Here’s what Stephanopoulos said:

“Well, what I wanted to talk about for a few minutes is the various efforts that are going on in public and behind the scenes by the Fed and other government officials to guard against a im_a_gay_spammerfall in the markets….perhaps the most important the Fed in 1989 created what is called the Plunge Protection Team, which is the Federal Reserve, big major banks, representatives of the New York Stock Exchange and the other exchanges and they have been meeting informally so far, and they have a kind of an informal agreement among major banks to come in and start to buy stock if there appears to be a problem. They have in the past acted more formally… I don’t know if you remember but in 1998, there was a crisis called the Long term Capital Crisis. It was a major currency trader and there was a global currency crisis. And they, with the guidance of the Fed, all of the banks got together when it started to collapse and propped up the currency markets. And, they have plans in place to consider that if the markets start to fall.”

Stephanopoulos comments are hardly shocking. They simply underscore the fact that “deregulation” has created an economic monster which requires more and more tinkering from the stewards of the system. Without the stopgaps provided by the Plunge Protection Team and the actions of similar organizations which forestall business bankruptcies, (bailouts) the whole over-leveraged system would quickly crash and burn. The irony is that the same corporate kingpins and banking moguls who’ve benefited the most from removing the rules for prudent investment are now trying to create a safety net for when it inevitably begins to unravel.

It won’t work. The numbers are too large. Trillions of dollars are presently held in shaky hedge funds and derivatives markets. If the market takes a steep and sudden downturn, there’s nothing anyone will be able to do.

John Crudele of the New York Post has done extensive research on the Plunge Protection Team (aka; the Working Group on Financial Markets) and provides the blueprint for “rigging” the markets when catastrophe hits. The idea came from an a former member of the Federal Reserve Board named Robert Heller who suggested that “instead of flooding the entire economy with liquidity, and thereby increasing the risk of inflation, the Fed could support the stock market directly by buying market averages in the futures market, thus stabilizing the market as a whole.”

:woowoo2:

I thought this would catch your eye, Pal.

Yes, I did see your post [link to godlikeproductions.com] and, when I saw Mike Whitney raise the issue of the PPT a few days later, I thought it was 'a must' to post.

I've always suspected market manipulation. Reports of a 'Plunge Protection Team' seems to confirm it.

So much for a 'free market'.

BMG

If the system can not be sustained without manipulation than the system can not stand and must be abolished.

exactly! no fear of a plunge, no fear to buy.

the market is so brain dead bullish it is scary.

BMG,

An intresting post for once. I remember reading up about the PPT about a year back. But have always known that the markets are phoney. As a lot of suckers are going to find put one day when their 401K's dissapear in a puff of smoke.

The stock market is racketeering. We'd be so much better off without it. If the 9/11 attacks had truly been muslim extremists, they would have targetted the stock exchange.

Do you remember when Fox's Butt Fume was talking about investing in war futures? The rich make money from suffering.

I understand many insiders made money as a result of 9/11.

BUMP ALL BMG POSTINGS FOR TRUTH!!