by ‘Ranting’ Andy Hoffman
On last week’s round table podcast with Elijah Johnson of Unconventional Finance, Bix Weir made a comment regarding how overt market manipulations have become. And not just the blatancy of stock, bond, currency, and PM interventions – per the rote machinations I discuss EVERY DAY. I believe he used the term “official manipulation,” which gave me the idea for this RANT…
It is public record that the “President’s Working Group on Financial Markets” is charged with supporting U.S. stocks; the Fed with purchasing Treasury bonds via “QE”, “OPERATION TWIST,” and “ZIRP”; and the “Exchange Stabilization Fund” with gold and currency intervention; not to mention, equivalent organizations in nearly ALL sovereign nations. However, even after the past four years’ market CHAOS – following Global Meltdown I – the investment world and MSM have largely kept their heads in the sand, pretending markets were freely-traded and hoping – for instance – that the “DOW JONES PROPAGANDA AVERAGE’s” strong performance “signaled” good times ahead.