Stephen A. Lawrence wrote on 3-13-09:

``Conspiracy theories all have one interesting feature
in common:  They cannot be disproved.  Like creationism,
they're intrinsically not falsifiable.  This, alone,
doesn't prove such theories wrong, of course.  (Just
because you're paranoid doesn't mean they're *not* out to
get you!)''

Hi All,

Regardless of whether or not one believes in original sin,
it must be admitted that something is seriously wrong with
homo sapiens.  That such a creature should have atomic
weapons is a cosmic joke, with the punch line to be
delivered when the Big Chimps finally lead us to oblivion.

Given man's "fallen nature", conspiracy is probably the
norm of human behavior, hence the constant plaintive
calling for transparency.  There actually could be a
Science of Conspiracy because of the well-documented
conspiracies available for study.  In fact, Conspiracy
Science 101 should probably consist of case studies.
Naturally, with any conspiracy, many of the important
details will never be known, since secrecy and
disinformation are the essence of conspiracy.  (See Russ
Baker's "Family of Secrets.")

Of current interest are market conspiracies:  the bull
market "pump and dump," playing on greed; and the bear
market "bear raid," playing on fear.  The kleptocrats of
2001 - 2008 have engaged in both types of conspiracies,
with the first part of this period dominated by shearing
the sheep with "irrational exuberance." and the last part
culminating in the Great Bear Raid of 2008. (The fall
of the Dow Jones industrial average (INDU) from 14,164
on October 9, 2007, to 6,547 on 3-9-09 was not some
inexplicable act of G_d.)

Perhaps the best known bear raid
is Black Tuesday, October 29, 1929.
See http://articles.wallstraits.net/articles/1287 --
A bankers pool had previously been organized to support
stock prices. ``Thomas Lamont ... was forced to deny
rumors that the bankers had actually been selling
stocks (conducting a bear raid) rather than buying ...
(It would later be revealed that Albert Wiggins, the
chairman of Chase National Bank and a member of the pool,
was personally short several million dollars' worth of
stock at the time the bankers sought to organize support
for stock prices.) ...''

After the bear raid of 1937, Joseph Kennedy, in 1938,
first chairman of the Securities Exchange Commission,
formed under the administration of F. D. Roosevelt,
had the SEC adopt the uptick rule, more formally known
as rule 10a-1, which (loosely) said that you could only
short a stock following an uptick in its price.  The SEC
eliminated the uptick rule on July 6, 2007; and there was
nothing to stop the bears piling on as they made fortunes
driving down the market.

Jack Smith


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