The Plunge Protection Team, The Fed And The Investor Costs

The “Plunge Protection Team” is the colloquial name for the Working Group on Financial Markets (WGFM). The Working Group was established by the executive order of President Reagan in 1988, in the aftermath of the stock market plunge of October, 1987.

The group reports to the President, and the official members of the group include the Secretary of the Treasury, the chairman of the Federal Reserve, the chairman of the SEC, and the chairman of the CFTC. In other words, the group members are the four most powerful financial officials in the United States. In practice, the committee can be composed of senior aides and officials that have been designated by those top officials.

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Ominous Warning From The Stock Market?

By Dr Robert McHugh – Re-Blogged From http://www.Gold-Eagle.com

….The Fed has become increasingly political, and they have taken their role within the Plunge Protection Team, their legislative right from the President’s Working Group established in 1988 after the 1987 stock market crash, to greater heights, more frequent intervention, and intervention that occurs outside of a stock market crash environment which was the original intent. In other words, the Fed can print money, hand it to its Wall Street surrogates, and order the purchase of stock index futures to push the stock market higher, or to slow or stop declines.

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An Indication Of Global PPT Failure?

By Bill Holter – Re-Blogged From http://www.Gold-Eagle.com

Forget about Greece, they didn’t matter yesterday as the NYSE shut down for nearly four hours.  Greece does matter and certainly will matter in the weeks to come.  Before getting to yesterday’s very peculiar “glitch”, I do want to mention something quite humorous about Greece.  Ambrose Evans-Pritchard wrote yesterday the referendum actually backfired!  When Tsipras called for the referendum, he apparently expected a “yes” vote (and so did the banksters running the show!).  The “plan” was after the yes vote, Tsipras would hang his head and agree to more austerity and thus kick the can one more time.

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