Tuesday, November 18, 2008

Plunge Protection Team Conspiracies Discussed on CNBC

Hat tip FOFOA

For those who don't know: The Plunge Protection Team (PPT) was created by Ronald Reagan back in 1988 through executive order 12631. The Working Group on Financial Markets, also known as the PPT was created to respond to events in the financial markets surrounding October 19, 1987 ('Black Monday'). They are chartered with providing recommendations for legislative and private sector solutions for "enhancing the integrity, efficiency, orderliness, and competitiveness of United States financial markets and maintaining investor confidence".

Former Federal Reserve Board member Robert Heller, in the Wall Street Journal, opined that "Instead of flooding the entire economy with liquidity, and thereby increasing the danger of inflation, the Fed could support the stock market directly by buying market averages in the futures market, thereby stabilizing the market as a whole.

In the Video below, watch how the multiple CNBC hosts attack Scott Nations, Fortress Trading, who suggests that the Plunge Protection Team actually intervenes in financial markets (Shhhh, not on this station... This is a Big Washington Secret, and it will contradict our phony outwardly stance on maintaining a "Free Market Society" -- we can't let the sheeple believe any differently).

Watch then how they tag-team Scott in an attempt to discredit and associate him with the people who think the WTC towers were rigged with explosives.

In the end, CNBC senior economist Steve Liesman admits they have the power to do this, then quickly moves on...

Move along now, nothing to see here. The Kool-aid pitcher is officially empty.

To see pictures of the PPT's Leaders, click this LINK


45north said...

the link doesn't work from my mac, here's the clip off google


Interesting very interesting.


Nice video on cnbc.