Ex-Plunge Protection Team Whistleblower: ‘Governments Control Markets; There Is No Price Discovery Anymore’

Dr. Pippa Malmgren

Ex-Plunge Protection Team Whistleblower: “Governments Control Markets; There Is No Price Discovery Anymore” (ZeroHedge, Feb 23, 2015):

One year after the great stock market crash in 1987, US President Ronald Reagan launched the “Working Group on Financial Markets.” Conspiracy theorists believe, however, that the real task of this committee is to protect against a renewed slump in the stock market. In the jargon of Wall Street, the working group is known as the “Plunge Protection Team.”

One glimpse at a few days suring 2007/8 and it is clear that ‘someone’ with infinitely deep pockets was able to support markets on several critical days – though, of course, anyone proclaiming intervention was propagandized away as a conspiracy theory wonk. However, as Dr. Pippa Malmgren – a former member of the U.S. President’s Working Group on Financial Markets – it is not conspiracy theory, it is conspiracy fact: “there’s no price discovery anymore by the market… governments impose prices on the market.”

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In this 38 minute interview Lars Schall, for Matterhorn Asset Management, speaks with Dr Pippa Malmgren, a US financial advisor and policy expert based in London. Dr Malmgren has been a member of the U.S. President’s Working Group on Financial Markets (a.k.a. the “Plunge Protection Team”). They address, inter alia:

Full interview:

Source: GoldSwitzerland.com

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Still don’t believe?

Here is Scott Nations in 2008 getting “Schiff’d” by the CNBC anchors (Liesman) and some other guest muppet when he dares to suggest the Fed is intervening and that the President’s Working Group (i.e. Plunge Protection Team) is hard at work

“look at the market action on the 10th and 28th and tell me what else might have generated a 100 point rally in the S&P under that situation?” Liesman fobs him off as some conspiracy wonk…

Yep looks normal to us… 10/10/2008

20141028_PPT

and 10/28/2008

20141028_PPT1

Those are 100 point moves on a 700/800 S&P!! Nothing to see here eh Liesman, Kiernan, Quick?

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And of course there’s last October’s Bullared bounce… the longest most consistent trend higher in stocks ever.

2 thoughts on “Ex-Plunge Protection Team Whistleblower: ‘Governments Control Markets; There Is No Price Discovery Anymore’

  1. I am old enough to remember another very corrupt president who set prices on everything…………….Richard Nixon, the author of our economic decline and fall. That evil bastard took us off the gold standard to pay for the Vietnam war, selling the idea US technology could replace gold. Today, all of it has been exported, and all that is left are empty factories and 35% unemployment……..far worse than the last time prices were set by government………now, all nations of the west do it, and the debt levels are all impossible to repay.
    We are finished, the east is rising, the west is falling.

  2. Finally, after years i am convinced but the consequence of it? Governments cannot control ‘markets’ for decades so one day it will collapse as usual and we will have to pay that.

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