CORNERED RATS AND THE PPT
Nelson Hultberg
There is a new wrinkle to consider regarding the government's Plunge Protection Team (PPT), which the investing public needs to be made aware of. First, however, some groundwork on the PPT, its origins, and its assumed purposes. Then I will present a theory about the PPT that should further validate its existence and clue us in to what it has planned for the future.
Conventional Wall Street media and Washington establishment types are quick to denigrate those of us who theorize about the establishment of a secretive PPT organization to manipulate the markets. But it is a matter of public record that the Working Group on Financial Markets (WGFM), which we allege to be the parent to the PPT, was formed under the Reagan administration. It was done by Executive Order on March 18, 1988.
This guy seems to think it's a secret.
So, no word on how repurchase agreements help support the stock market?
The Working Group is no secret. In the absence of M3 reporting, detecting its methods will be more difficult in the future. I can think of no other reason to stop reporting M3. Perhaps you can. If so, you are welcome to act on your hunches, as am I. Happy investing.