the rigging of america's stock markets

[donsu]

http://www.atimes.com/atimes/Global_Economy/GJ19Dj02.html



US stocks: The visible hand of Uncle Sam

John Embry and Andrew Hepburn provide a valuable entry into the world of finance. The two analysts illuminate the shadowy trail of the "Plunge Protection Team" in its apparent mission to rig the American stock markets.

-snip-

The trail that the two analysts follow is long, dating to just after Black Monday, October 19, 1987. On that day, the US stock market abruptly crashed. The Dow Jones average dropped by 508 points, to 1738. It threatened to do even worse the next day when, after a brief rally, it went into reverse.

-snip-

Thus, for example, the markets after September 11, 2001, received a heavy dose of intervention. The need for this intervention was so great that its outlines emerged quite clearly in the press.

-snip-

Major financial institutions may be acting as de facto agencies of the state, and thus not competing on a level playing field. There are signs that repeated intervention in recent years has corrupted the system.
-snip-
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(the snips hold the info on rigging)

the article points a finger at Greenspan and says the Plunge Protection Team will be busy early next year

[Angry Girl]

1. Damn! It's about TIME this got picked up!

Government Intervention in Stock Market is Detailed by New Report, GATA Says
Tuesday September 6, 8:30 am ET

MANCHESTER, Conn.--(BUSINESS WIRE)--Sept. 6, 2005--A major Canadian financial management firm that a year ago published a compilation of evidence of central bank manipulation of the gold price has just done the same in regard to the U.S. stock market and has reached a similar conclusion.

The new report is titled "Move Over, Adam Smith: The Visible Hand of Uncle Sam," and has been published by Sprott Asset Management of Toronto. It was written by the firm's president, John P. Embry, and his assistant, Andrew Hepburn, and concludes that the U.S. government has intervened to support the stock market so many times that "what apparently started as a stopgap measure may have morphed into a serious moral hazard situation, with market manipulation an endemic feature of the U.S. stock market."

<snip>

The Sprott report concludes:

"Given the available information, we do not believe there can be any doubt that the U.S. government has intervened to support the stock market. Too much credible information exists to deny this. Yet virtually no one ever mentions government intervention publicly, preferring instead to pretend as if such activities have never taken place and never would.

"It is time that market participants, the media and, most of all, the government acknowledge what should be blatantly obvious to anyone who reviews the public record on the matter: These markets have been interfered with on numerous occasions. Our primary concern is that what apparently started as a stopgap measure may have morphed into a serious moral hazard situation, with market manipulation an endemic feature of the U.S. stock market.
http://www.thomhartman.com/cgi-bin/ubbcgi/ultimatebb.cgi?ubb=get_topic;f=12;t=000266;p=0

Move Over, Adam Smith: The Visible Hand of Uncle Sam" by John Embry & Andrew Hepburn, August 2005
http://www.sprott.com/resources/reports.php

Actual Report Here (PDF file!)
http://www.sprott.com/pdf/pressrelease/TheVisibleHand.pdf

[donsu]

2. thanks for this info

america is a crime scene