Posted on 01/06/2010 7:01:20 PM PST by Bull Man
Rumors are rampant that the Fed and Treasury Department in league with large Wall Street firms are operating through the so-called Plunge Protection Team (PPT) to the stock market artificially. Fears are pervasive that if the pumping stops, the market will crash. Any truth to the rumors? Who knows? Only government insiders know because they refuse to open the books to public scrutiny.
Whether or not the PPT is pumping the stock market by buying shares with new money created out of thin air by the Fed, the rumors are extensive enough and widely enough believed by market participants that allowing the rumors to go un-rebutted is dislocating markets.
Before the Senate votes on the reappointment of Fed Chairman Ben Bernanke, Senators should demand that the books on PPT be opened to public scrutiny. The Fed is not a law unto itself, and it is time the Congress explained to Mr. Bernanke that he is not emperor of the marble palace in which he keeps offices.
Makes sense.
The government bailed out housing, bailed out GM, bailed out banks . . .
No surprise that the government would bail out the stock market, too.
Goes along with everything else it’s been doing.
What ever happened to auditing the federal reserve?
Spray some DDT on the PPT.
“Everything about socialism is sham and affectation.” 23.11 Ch23 Evil; “Economic Harmonies”; Frederic Bastiat 1801-1850
Something fishy IS going on.
Shares are where the money making is right now. Real estate, hard assests, and time deposits are out. It doesn’t matter if the economy as a whole is going nowhere. If enough people with enough money are buying shares up the price goes. If the price goes up more people want to get in. Therefore, the price continues to go up. Just don’t be the last one in when the music stops.
Maybe you don't, but others do.
You got that right.
Fishy indeed. As you point out, there is just too much upside in equities with such low volume. Even the professional fund managers are scratching their heads. Where’s there is smoke there is probably fire...when it smells fishy, the dirty hands of progressive elites can’t be far behind!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.