# Anyone doubt the PPT exists?



## wayneL (18 August 2006)

I've had amazing arguements about the existence of the PPT.

This article confirms it's existence.... Ben Barenaked himself acknowledges its existence

Ben spills his guts...sorta


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## markrmau (18 August 2006)

Yes, me.

Specifically, I believe there IS a group called the "Working Group on Financial Markets" which was formed to investigate the workings of the financial markets (specifically after the 87 crash). I believe it's role would be to look at the risks to the efficient operation of the markets under anomalous conditions such as the 2001 terrorist attacks, LTCM / the russian default crisis, and now hedge funds and metals speculation.

I DO NOT believe this group pumps capital into the market when it looks like falling because:

i) It has been tried before and didn't work (the crash preceeding the 30's depression).

ii) It would be a pointless excercise costing vast amounts of money. 

iii) In general, the US believes in giving the markets the freedom to work efficiently, and that is why the US rose from the mess post WW2 to become the most important economy on the planet (although this domminance may be on the decline).


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## wayneL (18 August 2006)

Most professional who trade US index futures swear black & blue that the PPT are regularly in the market.

In this instance professional means ex pit traders and suchlike. 

I am not close enough to the action to have a definitive opinion, but they even name the broker and account number.

But it doesn't take masses of money, it's different to 1929 because of rhe futures markets.

The PPT just buys the index and the arb boys fill in the gaps.

It is apocryphal as far as I'm concerned as well, but to hear them talk, it is convincing, and  I'm leaning towards manipulation  

Cheers


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## money tree (18 August 2006)

Goldman Sachs is owned and operated by the U.S government. If that doesnt say it all, what does?


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## wayneL (18 August 2006)

money tree said:
			
		

> Goldman Sachs is owned and operated by the U.S government. If that doesnt say it all, what does?




I didn't know that.

But that fits, because Goldman is the broker they mention.


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## markrmau (19 August 2006)

Huh??

Goldman Sachs is a publically listed company. NYSE:GS


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## wayneL (19 August 2006)

markrmau said:
			
		

> Huh??
> 
> Goldman Sachs is a publically listed company. NYSE:GS




hmmmm no sign of US gummint here either:

Major Shareholders 

But Goldman is the broker always mentioned in connection with the PPT FWIW


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## markrmau (20 August 2006)

Curiouser and curiouser.

Ex chairman/CEO of GS becomes US treasury secretary.

http://en.wikipedia.org/wiki/Henry_Paulson

Also,

http://news.goldseek.com/InternationalForecaster/1156092464.php

"Markets are nervous, everyone on Wall Street knows the Working Group on Financial Markets and the Fed via the repo pool, are rigging the markets and they know the derivatives markets are out of control. "


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