“I’ve Always Been Convinced that the Exchange Stabilization Fund is Involved in Stock [and] Commodity Transactions by Manipulating Price”

I’m reading Ron Paul’s book “End the Fed”, which is chock full of good quotes.

This one caught my eye:

I’ve always been convinced that the Exchange Stabilization Fund is involved in stock, commodity, and currency transactions by manipulating price.

As part of the ignored President’s Working Group on Financial Markets (Plunge Protection Team), the Treasury, along with the Fed, SEC, and CFTC, will continue to rescue the market any way possible. Unfortunately, it’s more like that its powers will be used to bail out friends at the expense of the rest of us.

For more on the Exchange Stabilization Fund, see this, this and this.

For more on the Plunge Protection Team, see this, this and this.

And don’t forget that the largest derivatives holders use their Counterparty Risk Management Policy Group (CRMPG) to literally collude – exchange secret information and formulate coordinated mutually beneficial actions – all with the government’s blessings.

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  • The PPT is a given. There are however, shiftier goings-on inside the retail brokerage firms, like the endless short selling -the retail brokerage firms do -to their own clients.What they are doing is like building a fish ladder around a dam, and then shooting the fish with a 22 rifle when they try to ascend past the dam.And they also then squeeze margin accounts to their market advantage, making large numbers of margin calls to move a particular stock, or any class of stocks.Retail brokerage firms are in the business of herding their clients around -like young cattle to the slaughter trough to be turned into veal.I had a guy inside Ameritrade tell me, 80% of Ameritrade clients go broke within six months. And that -of those that remain, very few get out with more than 30% of what they came in with.Fish in a barrel…No one gets rich playing the stock market, -no matter how much that take on that old stuffed shirt Warren Buffett appearance.Note every time you read an article about what Warren is doing -who the article is aimed at, suckers.It's a dirty game complete with poster-boys like Warren, and phony stories of high school kids making ka-zillions playing futures options portrayed on media frauds like -60 Minutes- and elsewhere.All the people behind those stories are slippery -and- they are also arrogant about their slippery-ness to the extreme. It's considered cool to brag about bagging suckers everywhere in the financial industries.The health care reform bullshit on the other hand, is all about a huge tax on the youth of the country. It's appalling really. This is all about a massive theft of wealth from the next generation of young adults.Lead them up the ramp, and then hit them with the stun gun before you lop off their heads.And all the money going into supporting the price of housing is the same thing. Supporting housing prices is but another huge tax on the youth of the country -who have yet to buy homes…The government is enticing fool-kids today with a 10% tax credit to buy a house that is 75% over-priced. There is a housing glut of historic proportions going on, kids. Sit tight. It is going to get way worse as property taxes creep up and the Boomers start keeling over from all the drug abuse they've fallen in for.People think they have become politically active if they get involved online with this or that board, BUT, if you really want to exert your political clout, just say no -to credit. And don't buy anything you do not have to buy.Don't fall for the well-advertised ploys about getting rich buying gold or stocks, futures contracts or trading currency. You are just getting in line with a bunch of other dopes if you do.There's a guy who posts here on this board. His blogger profile says he's a professional trader… Chances are better he's living in his divorced-mom's basement -eating OREO cookies breakfast, lunch and dinner.Don't get me wrong. That's a decent gig, if your mom can afford it, and you use your time to your advantage otherwise.Some of the most deceptive predatory schemes revolve around forcing credit on consumers, especially the young.Tell the credit marketers to go jump in a lake. When you agree to credit terms, you are an indentured servant, if not a slave. Those terms will box you in, so you can never get out. Do not be that sucker.

  • This post makes my case on the previous post on the stock market rise. Market pumping by all those involved. Think all is fine check the banks balance sheets.

  • "And don't forget that the largest derivatives holders use their Counterparty Risk Management Policy Group (CRMPG) to literally collude – exchange secret information and formulate coordinated mutually beneficial actions – all with the government's blessings."Umm, yeah, it's called an "industry group," genius. And the CRMPG's successful resolution of the trade backlog issues in 2006-2007 was a huge reason why the CDS market was one of the only markets to remain open and liquid throughout the entire post-Lehman period. Seriously, get a grip.You and Ron Paul deserve each other. You're both fringe conspiracy theorists who have absolutely no clue what you're talking about. Just delusional.