Here’s one from 2008:
Statement by the President’s Working Group on Financial Markets
Washington, DC– The President’s Working Group on Financial Markets issued the following statement today:
Conditions in U.S. and global financial markets remain extremely strained. The President’s Working Group on Financial Markets (PWG) is working with market participants and regulators globally to address the current challenges and restore confidence and stability to financial markets around the world.
(Source – US Treasury website)
Now exactly what the PPT itself is up as it helps to “restore confidence and stability to financial markets around the world” is unknown and up for debate.
But we can all guess.
The Fed is almost certainly in on the act:
Former Federal Reserve Board member Robert Heller, in the Wall Street Journal, opined that “Instead of flooding the entire economy with liquidity, and thereby increasing the danger of inflation, the Fed could support the stock market directly by buying market averages in the futures market, thereby stabilizing the market as a whole.”
What exactly IS the NY Fed doing with its trading desks co-located in Aurora IL so close to the highly leveraged CME “markets?”
I think what Danielle was indicating is that she doesn’t believe that there is/are official attempts at market manipulation happening out of sight.
I’ve been quite clear on this, I believe there are.
They have the means, the motive and the opportunity to do so. The advent of computerized trading has only made this easier and more certain for ‘them.’
If the NSA can build programs that sweep every single bit of digital data and analyse it on the fly for semantic meaning and other deeper interpretations, is it unthinkable that programs could be built that would know how and when to inject liquidity or send specific market moving signals to relatively few locations?
No, not in the slightest, and I rather imagine these programs were first developed several decades ago.
Is it unthinkable that something as important as market prices would be left to chance by increasingly interventionist authorities? To me it is. Heck, even the comment sections in major news outlets aren’t left to chance anymore (as they are routinely monitored and added to by security and corporate interests).
They are simply doing what I would do if I were in their shoes.
Anything that has power – which includes information, money, votes – is not left to chance in the US. I can show you clear, unambiguous examples of where official intervention and shenanigans have inserted themsleves into each and every place where ‘power’ is up for grabs.