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<FONT face=Arial color=#0000ff
size=2>Alex,
<FONT face=Arial color=#0000ff
size=2>
Its
good you posted this article that all the uninformed people use to back up their
argument about the 'Plunge Protection Team'. Not sure where the name came
from, perhaps some journalist thought it up. But anyway, if you read the
article, it basically backs up everything I & Dan have said in prior emails.
It provided absolutely no foundation for suggesting the Fed was out buying
futures. People who don't understand markets always look for someone to
blame....when the markets crashes its those 'nasty' shorters....when the market
bottoms in times like 1987 it must be inside money holding it up LOL. Of
course these people ignore the fact that every report into finding why the
markets crash has anything to do with short sellers whatsoever. They love to
live with their 'conspiracy' theories. The world is full of these sad
people. Their lack of understanding takes us back to the dark ages when
religion was invented to control the masses. Its incredible effectiveness
in this day and age tells you how ignorant and uninformed people still
are!! The conspiracy people will ignore the obvious facts and choose to
look for the 'sinister' plot behind closed doors.....they are never able to
accept the obvious and rational explanation. Rose coloured glasses to the
extreme. It doesn't mean the world is a perfect place of course.
There are people out their trying to control and manipulate... in many
cases they get away with it, and in many cases they don't. But sometimes
people just get silly ideas and take it way too far..
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>Adrian
<BLOCKQUOTE
>
<FONT
face=Tahoma size=2>-----Original Message-----From: Alex Bell
[mailto:alex_bell@xxxxxxx] Sent: Wednesday, 19 November 2003 8:40
PMTo: IraSubject: Re[2]: [RT] Re: Fed supporting
marketThere was an article
in Washington Post 1997 on this matter.
Seeattached.Wednesday, November 19, 2003, 10:04:55 AM, you
wrote:I> What do you think they did with the unlimited credit when
they were bankrupt? They went out and bought futures and stock to
support the market and increase the value of their portfolios.
I> ----- Original Message ----- I> From:
Dan Goncharoff I> To: realtraders@xxxxxxxxxxxxxxx
I> Sent: Tuesday, November 18, 2003 8:43
AMI> Subject: Re: [RT] Re: Fed supporting
marketI> Why is the Fed providing liquidity at a
time of high risk, when free markets may otherwise no longer function properly
in the short term, be worse than a branch of the government making anI>
active decision to buy futures. Providing liquidity allows the market to
function; buying futures favors one side of the market over the other. In my
view, buying futures is as bad as sellingI> futures -- it means the
government is taking sides.I> Ensuring the proper
functioning of the market is one of the stated functions of the financial
markets is one of the purposes of the Fed.I>
RegardsI> DanGI> Ira
wrote:I> I thought that it was aimed at
government intervention in the markets. It may not be the same as buying
futures, it is worse. I>
----- Original Message ----- I>
From: Dan Goncharoff I> To:
realtraders@xxxxxxxxxxxxxxx I>
Sent: Tuesday, November 18, 2003 7:18
AMI> Subject: Re: [RT] Re: Fed
supporting marketI>
Providing liquidity to the markets is not the same as buying futures, which is
the charge leveled in the original
message.I>
RegardsI>
DanGI> Ira
wrote:I> The fact
is it did happen in 1987. The fed told the banks to give unlimited
credit. I>
----- Original Message -----
I> From:
Dan Goncharoff
I> To:
realtraders@xxxxxxxxxxxxxxx
I> Sent:
Tuesday, November 18, 2003 5:21
AMI>
Subject: Re: [RT] Re: Fed supporting
marketI>
Have you ever seen it claimed in a respected source? If so, I would be
interested in the reference, because I have long sought such a mention in the
established press, without success.I> AFAIK, it is just foolish
gossip.I>
RegardsI>
DanGI>
BobsKC wrote:I> It is commonly accepted knowledge in the business
world and while I most I> certainly have not personally observed the
practice, I have no recall of I> the White House ever denying it,
either. If the market tanks, so does I> Bush. Do you not
believe that he has the means to prevent this?I>
BobI> At 02:57 PM 11/17/2003 -0800, you
wrote:I> This is a strong statement, variations of which
I've heardI> many times with no factual support. Is there any support
here?I> regards,I> tbrI> > the Fed
has shown in the past how it can hold upI> markets via futures
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