POMO + QE = PPT

by Larry Levin

For all of those who denied the existence of a Plunge Protection Team (PPT)...like myself...let's get on with it. It's here. It's real. And it's happening today!

Yes sir, who needs the so-called smoke-filled back rooms of PPT deals when you have the Federal Reserve Board? Who needs to continue the so-called myth of the PPT when the past TWO Chairmen of the Fed openly admit that they are rigging the so-called "free markets" of equities, bonds, and commodities.

Wikipedia says of the PPT..."Plunge Protection Team" was originally the headline for an article in The Washington Post on February 23, 1997,[2] and has since become a colloquial term used by some mainstream publications to refer to the Working Group.[3][4] Initially, the term was used to express the opinion that the Working Group was being used to prop up the markets during downturns.[5][6]

Of course, all "right thinking" Americans thought that the very idea of a PPT rigging the market was flat-out unamerican and would therefore never...ever..happen. Ever! Yeah, right!

Let's cut the bull$#it shall we? The Fed is rigging the market today; there is no doubt about it. There is no need for a PPT run by a president's council when the bankster's mega-banker...the Federal Reserve...run the real version of the PPT. They surely call it another name, but who cares; let's just call it Quantitative Easing for now.

The prior Chairman, The Greenspan-Put, confirmed in late July on Meet the Press what everyone knows: namely that the primary goal of the Fed is to encourage higher stock prices: "If the stock market continues higher it will do more to stimulate the economy than any other measure we have discussed here."

Riiiight...the Fed is agnostic on whether the market is affected by its measures...riiiight. Is that still true even when the CHAIRMAN says that the best thing it can do is stimulate the economy via the STOCK MARKET?

But it doesn't end there. Helicopter-Benron-Backstop Bernanke agrees with The Greenspan-Put: the only thing that matters are the equity markets. These Monetary Duo do not give a damn about your inflation, your deflation, your unemployment; they only care whether the banksters are happy or not.

That statement above by EZ-Al was made three months ago; however, about three days ago the new Chairman (Bernanke) said - "And higher stock prices will boost consumer wealth and help increase confidence, which can also spur spending. Increased spending will lead to higher incomes and profits that, in a virtuous circle, will further support economic expansion."

So again I ask - Let's cut the bull$#it, shall we?

* The stock market is not rising because of good fundamentals. THE STOCK MARKET IS RISING BECAUSE OF THE FOMC.
* The commodity markets are not exploding because of a sudden increase in demand by itself. THE COMMODITY MARKETS ARE RISING ACROSS THE GLOBE THANKS TO THE FOMC.
* The US dollar is not collapsing by itself. THE US CURRENCY IS COLLAPSING BECAUSE OF THE FOMC.
* Gold and Silver are not skyrocketing for no reason. GOLD & SILVER ARE RISING BECAUSE OF THE OUTRIGHT MANIPULATION BY THE FOMC.
* The ENTIRE GLOBE is engaged in active currency debasement for one reason only: THE UNITED STATES FEDERAL RESERVE BANK.

Trade Date: 11/4/10
E-Mini S&P Trades*
(before fees and commissions):

1) No "Secrets" trades filled.

2) Algorithm positions (10)

3) “Reading the Tape” positions (15)combined Secret’s, Algo, & “Reading the Tape” total… +17.50

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