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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Eight Crooks Against The World

By Ted Butler – Re-Blogged From http://www.Gold-Eagle.com

I’d like to share what may be a different way of looking at the gold and silver market, but still remain focused on what has been the primary driver of price – changes in the COMEX futures market structure. It has become fairly common knowledge that prices rise when the managed money traders buy and prices fall when these traders sell. So great is the effect on price of this COMEX derivatives positioning that it is discussed in more commentaries than ever before. And that is due to what has become a clearly observable pattern of cause and price effect.

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Weekly Climate and Energy News Roundup #242

The Week That Was: September 24, 2016 – Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Testing EPA’s Endangerment Finding – The Hot Spot: Advances in scientific knowledge are based on evidence – not on untested theories and untested mathematical models. The testing, often called hypothesis testing, can be lengthy and exhausting. For example, the theory of relativity, though virtually universally accepted, is still undergoing testing. Although over 35 years old, the concept that human emissions of carbon dioxide (CO2) will cause unprecedented and dangerous global warming has not been thoroughly tested and is highly questionable.

As explained in the February 6 TWTW, in his written testimony to the U.S. House Committee on Science, Space and Technology on February 2, John Christy of the University of Alabama in Huntsville submitted the results of 102 IPCC CIMP-5 Climate Model runs for the Global Bulk Atmospheric Temperature. (Surface to 50,000 feet (15,240 meters)). CIMP-5 is the latest version global climate models used by the UN Intergovernmental Panel on Climate Change (IPCC))

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SEC Forces Exxon Climate Disclosure Vote

By Eric Worrall – Re-Blogged From http://www.WattsUpWithThat.com

The U.S. Securities and Exchange Commission has ruled that Exxon must allow a shareholder vote, on whether Exxon should include information about specific risks posed by climate change in company reports. Exxon claims that the proposal is too vague to properly address.

The Securities and Exchange Commission has ruled Exxon Mobil must include a climate change resolution on its annual shareholder proxy, a defeat for the world’s largest publicly traded oil producer, which had argued it already provides adequate carbon disclosures.

In a Tuesday letter to Exxon XOM -0.43% seen by Reuters, the SEC said the oil producer cannot keep a proposal spearheaded by New York state’s comptroller from a full shareholder vote at the company’s annual meeting in May.

If approved, the proposal would force Exxon to outline specific risks that climate change or legislation designed to curb it could pose to its ability to operate profitably.

Exxon had argued that the proposal was vague and that it already publishes carbon-related information for shareholders, including a 2014 report on its website entitled, “Energy and Carbon – Managing the Risks.”

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