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Does anybody still not believe the PPT exists after today?

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taught_me_patience Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:29 PM
Original message
Does anybody still not believe the PPT exists after today?
"Magically" guiding the markets higher...




...fools.
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WeDidIt Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:29 PM
Response to Original message
1. They;re the same group that ran the remote controls on the airplanes on 9/11
:eyes:
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Nicholas D Wolfwood Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:20 PM
Response to Reply #1
28. +1
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NeedleCast Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:30 PM
Response to Original message
2. What's the PPT?
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Name removed Donating Member (0 posts) Send PM | Profile | Ignore Thu May-06-10 02:31 PM
Response to Reply #2
5. Deleted sub-thread
Sub-thread removed by moderator. Click here to review the message board rules.
 
taught_me_patience Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:31 PM
Response to Reply #2
8. Working Group on Financial Markets
or "Plunge Protection Team".

http://en.wikipedia.org/wiki/Plunge_Protection_Team

The Working Group on Financial Markets (also, President's Working Group on Financial Markets, the Working Group, and colloquially the Plunge Protection Team) was created by Executive Order 12631,<1> signed on March 18, 1988 by United States President Ronald Reagan.

The Group was established explicitly in response to events in the financial markets surrounding October 19, 1987 ("Black Monday") to give recommendations for legislative and private sector solutions for "enhancing the integrity, efficiency, orderliness, and competitiveness of financial markets and maintaining investor confidence".<1>

As established by Executive Order 12631, the Working Group consists of:

The Secretary of the Treasury, or his designee (as Chairman of the Working Group);
The Chairman of the Board of Governors of the Federal Reserve System, or his designee;
The Chairman of the Securities and Exchange Commission, or his designee; and
The Chairman of the Commodity Futures Trading Commission, or his designee.
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alcibiades_mystery Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:30 PM
Response to Original message
3. There is no PPT, and never has been
The whole idea is pure nonsense.
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gateley Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:39 PM
Response to Reply #3
18. Why are you so convinced of this? Read taught_me_patience's post above yours.
Between hearing Dylan Ratigan refer to it (although not as the PPT, see my previous response to you) and the Wiki reference, I'm inclined to believe there is such a team in place. What do you base your opinion on? Not trying to be argumentative, just wondering why you're so adamant and sure nothing like this exists.
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alcibiades_mystery Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:45 PM
Response to Reply #18
20. Because there's never been any evidence
of any government group or non-government group buying up equities for the purpose of preventing a stock market decline. The post above argues by implication, but cannot provide any evidence that the Working Group on Financial Markets, which gives recommendations, engages in any trading activities at all. Curbs put in place on electronic and other forms of automatic trading have nothing to do with a group designed to buy up equities to stop declines. Program trading curbs have operated since the late 80's, and having nothing to do with any team. It's paranoid nonsense, with not one iota of evidence to suport its existence. That's why. because I dislike paranoid nonsense and prefer claims with evidence.
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gateley Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:08 PM
Response to Reply #20
26. Okay -- I see your point and where you're coming from. Thanks. nt
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:42 PM
Response to Reply #3
19. Really, so I guess that Executive Order 12631, signed by Reagan, the same EO that created the PPT
Is nonsense as well :shrug:

You can read the entire EO here
<http://www.archives.gov/federal-register/codification/e... >

You can educate yourself further about the PPT here
<http://www.wealthdaily.com/articles/plunge-protection-t... >

Even Reagan came out and admitted he was forming this group. And there has been no EO that has done away with the PPT, they are still in existence, still a major force in our markets, and you probably just saw some of their handiwork today.

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Name removed Donating Member (0 posts) Send PM | Profile | Ignore Thu May-06-10 02:48 PM
Response to Reply #19
21. Deleted message
Message removed by moderator. Click here to review the message board rules.
 
WeDidIt Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:53 PM
Response to Reply #19
24. OH BOY!!!
An executive order that establishes an advisory group and an article on a blog are just all the proof you need.

By your standards, Barack Obama isn't a natural born citizen, either.

PPT my ass.

:eyes:

Conspiracy theory drivel.
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:55 PM
Response to Reply #24
36. Well, this is probably a waste, in that "you can lead a horse to water. . ." sense, but let met try
First off, Wealth Daily isn't just some blog, they are one of the premier financial advising sites on line, have been for awhile. Don't believe me, do some research of your own on their editorial staff and then tell me that they're just a blog.
<http://www.wealthdaily.com/editors >

Secondly, the EO 12631 just doesn't establish an advisory panel. Check out section 3c: (c) To the extent permitted by law and subject to the availability of funds therefore, the Department of the Treasury shall provide the Working Group with such administrative and support services as may be necessary for the performance of its functions.

This is the heart and soul of the PPT.

Finally, there is this, the original explanation of the PPT, and what they can and will do
<http://www.washingtonpost.com/wp-srv/business/longterm/... >

"The Working Group's main goal, officials say, would be to keep the markets operating in the event of a sudden, stomach-churning plunge in stock prices -- and to prevent a panicky run on banks, brokerage firms and mutual funds. Officials worry that if investors all tried to head for the exit at the same time, there wouldn't be enough room -- or in financial terms, liquidity -- for them all to get through. In that event, the smoothly running global financial machine would begin to lock up."

Do you fully understand what they're saying? Essentially they're saying that in the event of a drop they will try to stabilize matters, ie try to prevent a panic by buoying up the markets.

You may wish to disbelieve in such groups, but they do exist. You can poo-poo them all you want, but I have just provided you with solid evidence to the back up my position.

What have you provided to back up your position? Oh, yeah, jack shit.

Get back to me when you have something to back up your position, oh and when you learn to debate an issue as well, rather than simply attacking using innuendo and personal attacks.
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WeDidIt Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:58 PM
Response to Reply #36
37. Putting forth drivel about a PPT makes them no better than World Nut Daily
Fuck no I won't buy the bullshit you're selling.

I might invest in tinfoil, because conspiracy theories are rampant these days.
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 04:04 PM
Response to Reply #37
38. Ah, so you think that the Washington Post is full of shit, hmm
As is Wealth Daily, OK.

Yet you still bring nothing to the table to prove me wrong, just lots of blustering, hot air and personal attacks. Why is that? If this is such a transparent conspiracy theory, why can you not bring some sort of factual evidence to the table that would disprove it? Answer that question.
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WeDidIt Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 04:08 PM
Response to Reply #38
39. No, I think you're full of shit. n/t
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 04:19 PM
Response to Reply #39
40. LOL! Typical, you don't have any evidence to back up your assertions,
So you resort to personal insults.

So tell me, why should give your POV any credence whatsoever, especially in light of the fact that I presented quality evidence to back up my assertions?

FAIL, major fail. All you have done is once again prove that you are nothing more than a keyboard blowhard, lacking in knowledge, facts and rational thought processes.

I will await your presentation of facts, but I'm pretty certain that all you're going to present is more insults.

Stay classy :hi:
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WeDidIt Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 05:09 PM
Response to Reply #40
41. And you have no evidence to support your assertions
Mere innuendo does not a fact make.

Invest in tinfoil, though. It doesn't keep out the government mind rays, but it makes you feel better.
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 11:49 PM
Response to Reply #41
42. Wow, just a few posts down from the link to both the EO and Post article,
Yet you say I don't have evidence.

Tell me, what world do you live in? It certainly isn't reality.

Well, this has become an exercise in futility. I mean really now, what use is it to argue with somebody who denies the truth that is placed before their eyes. OK, well, hey, enjoy that world that doesn't have a PPT, where Reagan didn't implement EO 12634, where reputable journalists in reputable papers didn't write about the scope and purpose.

Really, just stunning, bye :hi:
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jobycom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-07-10 12:04 PM
Response to Reply #36
43. "To the extent permitted by law" sort of shoots your proof to shit, doesn't it?
I mean, if you are using the official statement to prove that they are buying stocks, and the official statement specifically proclaims that they aren't allowed to, you are really proving they aren't doing it, or else you are putting forth evidence you are denying at the same time.

I'm new to this whole thing and discovering it as I read the posts, so I have no notions one way or the other. But you can't use an executive order which specifically forbids an action to prove that they are doing the action.
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ORDagnabbit Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:30 PM
Response to Reply #19
34. stupid facts and reality getting in the way with all its factyness...
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jobycom Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:30 PM
Response to Original message
4. You down with PPT? yeah you know me.
I'll Google later to see what this is about.
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Uzybone Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:31 PM
Response to Reply #4
6. every last homie!
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slackmaster Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:31 PM
Response to Original message
7. What does Faa'a International Airport in Papeete, Tahiti have to do with the price of onions?
:crazy:
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Deep13 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:33 PM
Response to Original message
9. Um, PPT?
:shrug:

Petroleum People Towers

Petro Punk Teabaggers

Pottery and Poetry Tyrannts

Poly Propellene Tigers

Pretty Purple Tequilla

Paper-Pushers of Tennessee
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taught_me_patience Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:34 PM
Response to Reply #9
11. Working Group on Financial Markets
The Working Group on Financial Markets (also, President's Working Group on Financial Markets, the Working Group, and colloquially the Plunge Protection Team) was created by Executive Order 12631,<1> signed on March 18, 1988 by United States President Ronald Reagan.

The Group was established explicitly in response to events in the financial markets surrounding October 19, 1987 ("Black Monday") to give recommendations for legislative and private sector solutions for "enhancing the integrity, efficiency, orderliness, and competitiveness of financial markets and maintaining investor confidence".<1>

As established by Executive Order 12631, the Working Group consists of:

The Secretary of the Treasury, or his designee (as Chairman of the Working Group);
The Chairman of the Board of Governors of the Federal Reserve System, or his designee;
The Chairman of the Securities and Exchange Commission, or his designee; and
The Chairman of the Commodity Futures Trading Commission, or his designee.

http://en.wikipedia.org/wiki/Plunge_Protection_Team


Otherwise known as the "Plunge Protection Team"
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One_Life_To_Give Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:35 PM
Response to Reply #9
13. PowerPoint SLide Show
All those files a *.PPT
What that has to do with the broader stock market, beyond Microsoft. I have no idea.
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RandomThoughts Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:33 PM
Response to Original message
10. Hmm, that is one thought on it.
Edited on Thu May-06-10 02:34 PM by RandomThoughts
I like musical explanations.

Sound of Music.
http://www.youtube.com/watch?v=WkBepgH00GM
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onehandle Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:34 PM
Response to Original message
12. I used Powerpoint earlier today.
It truly sucks.

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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:35 PM
Response to Original message
14. Could be just wealth consolidation by the upper crust
Create a frenzied sell-off, then buy back at new lower price. This slowly shaves wealth off the unlucky, less wealthy bastards whose brokers aren't in the special club
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Statistical Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:50 PM
Response to Reply #14
22. "This slowly shaves wealth off the unlucky, less wealthy bastards"
What happens if you don't sell how does the wealth gave shaved then? Or buy when market is down?

Just trying to understand how this stock market Illuminati / masons society works.
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Ruby the Liberal Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:36 PM
Response to Original message
15. No question.
Stops blown out on the way down, PPT kicks off the recovery.
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Change Happens Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:36 PM
Response to Original message
16. What is PPT?
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Ruby the Liberal Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:37 PM
Response to Reply #16
17. See post 13
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Statistical Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 02:51 PM
Response to Original message
23. Unreccing for pure conspiracy theory with no substance. n/t
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sharp_stick Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:05 PM
Response to Original message
25. Is there any function anywhere
for which there is not a conspiracy theory?

I blame the internet.... you know THEY set it up just to confuse us with other competing conspiracy theories...
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FBaggins Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:21 PM
Response to Reply #25
30. There USED to be.
But then "they" got to it.
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RandomThoughts Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:19 PM
Response to Original message
27. I think the main point, is that the traders are in error.
And the simplest point, that can be seen. Seen by basic logic.

The banks are too big and too consolidated.



Not sure how others see it.
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JCMach1 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:22 PM
Response to Reply #27
32. Exactly, and blackboxes following automatically...
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Prometheus Bound Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:21 PM
Response to Original message
29. I remember even the CNBC experts stating it as a given last year.
They said it's something everyone knows.

That really surprised me.
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librechik Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:21 PM
Response to Original message
31. UPDATE: Plunge caused by clerical error
http://www.cnbc.com/id/36999483 (somebody wrote "billion" instead of "million" and then corrected the error)

not that I don't believe in the PPT--they just didn't do this one
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Rex Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:24 PM
Response to Original message
33. Does anyone not believe they still went ahead with TIA?
And have a secret market to bet on future events.
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LanternWaste Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-10 03:32 PM
Response to Original message
35. I notice that quite often...
I notice that quite often, when someone doesn't believe what we ourselves may, we often call them "fools". The political, the religious, the man on the street-- all of them fools. The only difference being six of one, half a dozen of the other.

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