© Corbett Report
As I pointed out in
this week's #PropagandaWatch video, the stock market is often portrayed in the financial media as a magical crystal ball that can predict the future and see into the hearts and minds of men. We are routinely told that it shows us
the resilience of consumers, for example, or that it can
predict the next economic cataclysm or that we can
pore over it like an X-ray to reveal the true health of the economy.
And as I also pointed out in that video (and
much of
my other work over the past
several years),
this perception of the market is a bunch of hooey. As we all know (or should know by now) this
central bank-created phony baloney reality inversion bubble that the markets are "revealing" to us is just that: A bubble.
More precisely, it's a bubble that has been 93% filled with hopium and paper promises from the Federal Reserve.But what if I were to tell you that there was yet another mechanism by which the markets are manipulated? A mechanism wielded by a cabal of four men? One that is admittedly and on the record empowered by the POTUS to prop up the markets whenever they start flagging?
Does that sound like "conspiracy theory?" Well, it's not. Just another humdrum conspiracy fact. This cabal of four is known colloquially as the "Plunge Protection Team" and it's been on the books since 1988
By "on the books" I mean the books of the Federal Register, specifically
53 Fed. Reg. 9281 (Mar. 22, 1988), which carried notice of
Executive Order 12631, signed off by President Reagan on March 18, 1988. Issued in the wake of the infamous "
Black Monday" stock market scare of 1987, EO 12631 established a "Working Group on Financial Markets" to identify and consider "the major issues raised by the numerous studies on the events in the financial markets surrounding October 19, 1987." Consisting of the treasury secretary, the Fed chair, the chair of the Securities and Exchange Commission (SEC) and the chair of the Commodity Futures Trading Commission (CFTC), the group was empowered to "consult, as appropriate, with representatives of the various exchanges, clearinghouses, self-regulatory bodies, and with major market participants to determine private sector solutions wherever possible" and to report back to the president.
Comment: See also: