Granted, he didn’t deliver this theory in the most cogent way possible, ending up looking like your crazy uncle spewing out UFO theories at the Thanksgiving table. As traders, it’s very easy to simply chalk up the market action to some unseen hand, the proverbial plunge protection team working tirelessly to keep America’s only credible export viable.
All of this stems from executive order 12631, under President Reagan — where a ‘working group’ would be designated to stabilize markets.
It seems pretty explicit to me, does it not. We’re not talking about hiding the fact that the earth is flat, or ancient civilizations are living in Antarctica in underground cities. You’d think the government would have a vested interest in rigging markets, or at least stabilizing them, in order to support the tax base, create an environment where corporations hire more workers and/or merge with others — creating more tax events. Stable markets, inherently, promote prosperity and our place in the world as currency reserve status. The equity built up by corporations can be used to issue dividends, encouraging employees and shareholders to spend more and donate to charity. When hedge funds rake in the profits, there is a tangible ripple effect that is enjoyed by the nation, via philanthropic causes and/or art, real estate, travel and the collectibles market.
Shit, I can think of a thousand reasons why the government should stabilize markets — actively buy them, in secret of course, in order to keep this racket going. Frankly, it’s less logical not to consider the existence of the working group, than merely dismissing it as idle conspiratorial subterfuge.
Smoking gun evidence aside, there is record low volatility, record highs, in a shitty global economy beset by both political and monetary instability. Nothing stops it, not negative interest rates, massive Chinese capital outflows, flash crashes, terrorist attacks, fraud, scam IPOs, outrageous valuations in the tech sector, war etc. The end result, as always, is a very orderly melt up to new highs. Markets are not tethered to any economic backdrop worth exploring, but instead the path of least resistance.
Some on social media disagree.
This is the dumbest, most data- and logic-free theory I’ve ever heard. Lucky I wasn’t on set. https://t.co/LuKQJFkQPV
— Downtown Josh Brown (@ReformedBroker) May 24, 2017
@CNBCFastMoney @AsherEdelman That was a stupid waste of time.
— Robert Smith (@RSmithInc) May 23, 2017
@CNBCFastMoney @AsherEdelman So buying the dip, really means buying the plunge protection conspiracy, implemented by secret society investors, right ?
— Edmond Yammine (@EDY47000) May 23, 2017
@CNBCFastMoney @AsherEdelman Where was the plunge protection team in 2009?
— Michael Gorbaty (@MichaelGorbaty) May 24, 2017
@CNBCFastMoney @AsherEdelman Again, you’re high. There was a panic every second of each session in late 07 throughout 08.
— Andrew P. Jamroz (@HolyCurlin) May 23, 2017
@CNBCFastMoney @AsherEdelman Why would you give airtime to idiotic conspiracy theories? #fakenews
— Blake PDX (@pdxblake) May 24, 2017
The obvious rebuttal to people who believe markets are rigged is ‘what happened in 2008-2009 and any of the other market scares?’ Playing devil’s advocate here, and as someone who happens to think there is definitely chicanery in our markets taking place on a regular basis, I’d argue that during times of grave market dislocations, the animal spirits of the many overwhelm the resources of the few who are tasked with stabilizing markets. The same could be said about Fed rate cuts during the financial crisis. Typically when the Fed cuts, especially emergency cuts, markets respond by rallying. Back then, nothing was helping stocks rally — it was down, down and then down some more. It was, in a sense, the end of western finance. It had the feeling of destined doom, a sense that nothing would be able to provide markets with a bid. It was at that moment, 666 on the S&P, that markets placed in an apathetic bottom and never looked back.
I doubt the plunge protection team had anything to do with the market bottoming in 2009. But do they exist? Maybe (cue creepy alien music).
For more on this topic, Tyler at Zerohedge chimes in.
Here was a montage that Ragin Cajun put together of the market crash in 2008.
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Markets are rigged. Period. PPT, Fed via Citadel, whatever. Markets are rigged, politicized and controlled.
Gawd you speak beauty
they clearly setup a system on index components several yrs ago
I also said it was a govt partnership public-private 4.5 years ago as this fossil did
I knew Dr. Fly would ring in on the circus like spectacle I witnessed this evening in the cucked CNBC “Fast Money” side show! LOL
Vegas odds on showtime running around yelling “told you so” to strangers on the street…. naked.
How
the
fuck
it took
to May
twenty-seventeen
The ads on mobile are making this site impossible to use.
i requested to take them off
Adds?
I don’t see adds, you should get an IPhone
Regards
Chuck Bennett
ROLLS EYES
someone speaking truth?
there’s clearly been simple IF…THEN statements on the indexes since 2012
of which you can see a progression of refinement to 2015
absolute conspicuous 2016
STUDY BASIC COMPUTER PROGRAMMING SHITHEADS
“IF THEN” THE BASIC COMMAND OF “IF THEN”
SEEN THROUGHOUT INDEX-INTRADAY
p.s.
which means there’s a master guidance control on the united states stock market
Ask “them” to rally AEXE. I was looking for a piece of shit penny stock to grab a ten bagger.
Showtime just came.
It’s called stops run programs
I drink your milkshake.
market are rigged and stable ,that’s a good thing , program is run them much higher .
a crash may happen on political turmoil .
markets are worked by fed+close friends ( banks )
that’s how it works
…and when the markets finally crash, and they will (for political reasons) at the right time, you will know that “they” wanted them to crash and “they” were positioned accordingly for full impact.
when fed colluding banks feel a change coming into some unknown territory , they will alter the program , via selling + all sorts of short&vix edge
the trump impeachment will be a slow thing , but will eventually happen and alter some maket prices and valutations in the course
hmmm ….
“Investors Yank Money Out of Small Caps at Fastest Pace Since 2007”
“Asher Edelman Triggers Traders by Suggesting The PPT is Buying Market Dips”
Are these two connected? PPT, if exists, would be aimed at indices, not small caps, correct?
A more interesting question is: Do “they” sell for political purposes?
After the Trump impeachment market panic, here we are right back up at highs after lap dog Trump went to the mid-east and read the neocon talking points like a hostage reading his captors manifesto.
Good boy. Impeachment off the docket …now stay in line.
The crash will be for political reasons – political global dominance. We know what “their” agenda is – global governance but “they” are not omnipotent. I see many obstacles. For one, there’s the China/Russia wrinkle with their stash of gold. Among others, “they” want national currencies denominated in “their” (BIS/IMF) fiat global currency but if China/Russia denominates crude and trade in gold, “they” will lose their mojo. But who knows? We’re just a bunch of peanut gallery plebs guessing which way the wind will blow.
Idiot.