Comment by Dawnal
Another interesting day in the stock market. Up strongly at the open, faded through the day and coming back as the day ended. Up 68 for the day. Why? What was the news that would suggest that the market should be up?
The professional traders that post comments through the day at indexcalls.com have no doubts about why. They accept as fact that the government is manipulating the stock market on a daily basis. They note that the indices “gap up” frequently through the day. Several times yesterday there were mentions of stocks being purchased at prices over the ask.
Here is what one posted yesterday:
“When the PPT is engaged near All Time Highs,
you know beyond a shadow of a doubt that:
1) our financial markets are a joke
2) our economy is a dead man walking
3) the bankers control our government
4) we are completely screwed”
And Bill Murphy, a professional trader who publishes the daily MIDAS report at lemetropolecafe.com, said:
“For the umpteenth time the problems for US financial markets and the economy disappeared overnight. The DOW is called 65 higher…
Whenever the DOW looks shaky, for whatever reason, and has a really bad day, the PPT makes sure the “Mo” immediately turns back up; at least they make an effort to do so. It has been this way ever since 9/11…”
"PPT" probably refers to the Plunge Protection Team.
I am not quite sure what to make of comments like this. On the one hand, you could make the argument that the credit sector is not the entire stock market. And the comments being made are by individual traders who may be shortsighted in their reading the financial tea leaves. On the other hand, someone buying stocks over their market price sure smells of manipulation.
What bothers me most about some of this talk is the reference to how the "bankers" control the government. In the past, "bankers" became synonymous with "Jewish." What worries me is that there may be antisemitism starting to creep back into popular discourse. If we have a real crash, I fear it may become more pronounced. I am even more concerned considering the push by the White House toward the "unitary executive," the unwillingness to accept Congress' oversight authority and the use of fear (constant terror threat warnings) as an attempt at social control.
Sounds like a movement toward fascism. That is what is so scary about current events.