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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15 Trillion Reasons Rising Rates Matter Today

By Graham Summers – Re-Blogged From http://www.Gold-Eagle.com

Rates continue to rise, though stocks remain oblivious.

The yield on the 10-Year US Treasury continues to soar, with a confirmed breakout from its 10-year downtrend.

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Brexit Post-Mortem

By Alasdair Macleod  Re-Blogged From GoldMoney

It is a month after Britain’s surprise vote to leave the EU. A new Conservative Prime Minister and Chancellor are in place, both David Cameron and George Osborne having fallen on their swords. The third man in the losing triumvirate, Mark Carney, is still in office. Having taken a political stance in the pre-referendum debate, there can be little doubt the post-referendum fall in sterling was considerably greater than if he had kept on the side-lines.

This article takes to task the Treasury’s estimates of the effect of Brexit on the British economy and Mr Carney’s role in the affair, then assesses the actual consequences.

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