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LuckyOne

For All The Consipiracy Theorists ......

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There have always been rumours that the President's Working Group on Financial Markets created after the Crash of 1987 actually operates to interfere in free markets by actively buying equity index futures in times of financial stress.

I wonder whether people on this site think that these rumours are credible and whether there is a similar, secretive group interfering in UK markets (housing, equity etc).

Some references :

http://en.wikipedia.org/wiki/Plunge_Protection_Team

http://registeredrep.com/mag/finance_stock_markets_da/

http://www.telegraph.co.uk/finance/comment...s-meltdown.html

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I can't vote because I couldn't say whether or not it exists in the UK. I would strongly assume it does and, in fact, if it did not, the govt should be chastized for being derelict in its duties.

The existence of the PPT isn't even a subject for debate over here. It's considered fact.

http://www.telegraph.co.uk/finance/comment...ction-Team.html

I'm rather surprised at you, Lucky. Why are you trying to gin this up as a conspiracy? There is even a Treasury Press Release on the matter:

http://www.treas.gov/press/releases/hp1177.htm

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I can't vote because I couldn't say whether or not it exists in the UK. I would strongly assume it does and, in fact, if it did not, the govt should be chastized for being derelict in its duties.

The existence of the PPT isn't even a subject for debate over here. It's considered fact.

http://www.telegraph.co.uk/finance/comment...ction-Team.html

I'm rather surprised at you, Lucky. Why are you trying to gin this up as a conspiracy? There is even a Treasury Press Release on the matter:

http://www.treas.gov/press/releases/hp1177.htm

There is no dounbt that the President's Working Group on Financial Markets exists.

They state quite clearly that they try to try to ensure that markets (including payment/settlement systems) operate efficiently and that they are there to punish wrongdoers.

They have also been quite transparent with respect to some of the programs that they have supported (TARP, TALF, the old uptick rule etc could fall into this category).

There have always been rumours that they operate beyond their remit and actually go out and buy equity index futures when markets are stressed. Personally, I don't think that they do but I am interested in the collective and individual opinions of people on this forum.

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with the last couple of years' extraordinary events, and the fraud, larceny, and underhand operations exposed since the 'tide went out', it seems the logical conclusion that they interfere as a matter of course.

with all the QE shenanegans, the mark to myth accountancy changes for zombie banks, the logic defying movements in MBS and bonds, to say nothing of Giant Squid and their outrageous behaviour, and Obama's monstrous 'stimulus package'; a PPT seems almost small-time by comparison...

...and where is the line drawn anyway, between ersatz 'banks' with a government backstop and a government mandate; and a shadowy group of rich WASPS moving the pieces across the dollar diorama in some virtual bunker?

that's a yes

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Well put.

In fact, I have never heard anyone in the US say that PPT is a myth, and I've heard of it for many years.

I'm not sure why it would be an issue, however. I would expect this from govt and it may justified. I don't know that and would defer to more informed debate on this.

Bottom line is this would not be the first time US govt runs covert ops. Why are you concerned about it Lucky? I really would like to know why it's important to you.

with the last couple of years' extraordinary events, and the fraud, larceny, and underhand operations exposed since the 'tide went out', it seems the logical conclusion that they interfere as a matter of course.

with all the QE shenanegans, the mark to myth accountancy changes for zombie banks, the logic defying movements in MBS and bonds, to say nothing of Giant Squid and their outrageous behaviour, and Obama's monstrous 'stimulus package'; a PPT seems almost small-time by comparison...

...and where is the line drawn anyway, between ersatz 'banks' with a government backstop and a government mandate; and a shadowy group of rich WASPS moving the pieces across the dollar diorama in some virtual bunker?

that's a yes

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There have always been rumours that the President's Working Group on Financial Markets created after the Crash of 1987 actually operates to interfere in free markets by actively buying equity index futures in times of financial stress.

I wonder whether people on this site think that these rumours are credible and whether there is a similar, secretive group interfering in UK markets (housing, equity etc).

http://www.wealthdaily.com/articles/plunge...ction-team/1848

http://www.marketoracle.co.uk/Article1771.html

However, I am not convinced:

http://www.safehaven.com/article-721.htm

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Well put.

In fact, I have never heard anyone in the US say that PPT is a myth, and I've heard of it for many years.

I'm not sure why it would be an issue, however. I would expect this from govt and it may justified. I don't know that and would defer to more informed debate on this.

Bottom line is this would not be the first time US govt runs covert ops. Why are you concerned about it Lucky? I really would like to know why it's important to you.

It is important to me because I have always thought of investing as a game of the survival of the fittest. I am (perhaps naively) Darwinian in my approach.

If we are now in a new paradigm where investing is about the survival of the people with the biggest bullies on thier side (the government and their associates), I really have to reconsider my approach to value.

This reconsideration is more about choosing differnt markets than different assets within a corrupted and inefficient market.

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