http://www.leap2020.eu/The-Plunge-Protection-Team-or-the-diversion-of-an-instrument-of-protection-to-the-profit-of-a-policy-of-manipulation_a1619.htmlThe “Plunge Protection Team” or the diversion of an instrument of protection to the profit of a policy of manipulation- Excerpt GEAB N°8 (October 16, 2006) -
If you were a
subscriber to the GEAB, you would have read what will follows as early
as October 16th, 2006:
In this context, a vast communication offensive has started. It uses the same logic as was used for the Iraqi situation before the 2004 presidential election: preventing voters from becoming aware of the extent of the disaster in progress by flooding them with fictitious news, by drowning “bad” objective news in a multitude of “good subjective news” (this is what an American economist called “the transformation of indicators into vindicators” (1)), by working out each week new explanations proving that the “positive” situation was sustainable,…. In fact, what we have seen for two months, and will see for another month, is a remarkable exercise of psychological war probably coordinated by the very secret “Working Group on Financial Markets” created by the Executive Order 12631 (2) established under Reagan (3) in March 1988, also called by the Washington Post (4), the “Plunge Protection Team”. This working group was created following the October 1987 stock exchange crisis with the objective “to promote the integrity, the effectiveness, the regularity and the competitiveness of the markets of the country, and to maintain the confidence of investors”. This group does not produce any reports; has no public visibility and details neither the agenda, nor the composition of its meetings; is directed by the Finance Minister (Henry Paulson) and includes the president of the federal Reserve Ben S. Bernanke (former adviser of G.W. Bush, named to this position at the end of 2005) and the two presidents of the authorities monitoring the markets: the Securities and Exchange Commission, Christopher Cox (named to this position by G.W. Bush in 2005) and Reuben Jeffery III (also named by G.W. Bush to this position after having been its adviser), one of the directors of the CPA, American authority of transition in Iraq and also former member of Goldman Sachs, like H. Paulson. We can see that the double influence of the Bush administration and the Goldman Sachs bank on this entity is total. This entity has the vocation of coordinating the actions of the main public and private American players (who are invited to participate in working groups) towards the objective of “healthy” American financial markets. Since the stopping of the publication of the M3 indicator at the end of March 2006, as well as many indicators previously allowing everyone to follow the developments of the flows of credits in dollars in the world, as well as the possible actions of the Fed and the American Treasury on the markets (5), this working group now has increased possibilities of action since they cannot be tracked down and, as indicated previously (cf notes 6), the “hedge funds” seem to be the first operators solicited to buy Dollars and to maintain its rate. For how long? and at what price? The answer will come in a few weeks after the elections. ---------
Notes: (1) Source: Energy Bulletin, 05/10/2006: Economics Hallucinated Wealth (2) Source: Federal Register, US National Files, 11/1998, Executive Order 12631/Working Group one Financial Markets (3) When George H.W. Bush, the father of the current American president was vice-president (4) Source Washington Post, 23/02/1997: Plunge Protection Team (5) Source Leap/E2020, 15/02/2006: GEAB N°2 |
