Top Trump official calls bankers, will convene 'Plunge Protection Team'
WASHINGTON (Reuters) - U.S. President Donald Trump’s Treasury secretary called top U.S. bankers on Sunday amid an ongoing rout on Wall Street and made plans to convene a group of officials known as the “Plunge Protection Team.”
U.S. stocks have fallen sharply in recent weeks on concerns over slowing economic growth, with the S&P 500 index .SPX on pace for its biggest percentage decline in December since the Great Depression.
“Today I convened individual calls with the CEOs of the nation’s six largest banks,” Treasury Secretary Steven Mnuchin said on Twitter shortly before financial markets were due to open in Asia.
Damn shit's getting real in the stock market. We haven't had a meeting from the "Plunge Protection Team" also known as market riggers since 2009. The mega banks and central bankers pretty much control all the global stock markets around the world because they can create fiat currency out of thin air and buy up plunging stocks and bonds.
What will be interesting this time is whether or not the banks go along with the Trump administration to stabilize markets or will they resist and go along with the Federal Reserve's plan of raising rates and putting more strain on the markets.
Should be an interesting week in the markets. Watch for fireworks while this government shutdown gets sorted out. I have to wonder if this isn't the plan of the globalist to take down the global economies and destroy fiat.
Economist Magazine in 1988 "predicted" fiat currency crisis in 2018.
We are no where near a currency crisis but this could be the beginnings of one if things go south between the bankers and Trump.
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Just prudent people reacting to the profilgate government spending that was guaranteed when liberals took over the house!
Bailing on the DOW is just protecting investor's assets preparing for the crash that the liberals must induce to try to re-rail the train wreak; that was their original plans for the destruction of this Republic!
>:(Great timing for them. Everyone is all cheery celebrating Christmas and too distracted to notice. Ha “plunge protection team” what a name
They seldom miss a trick, to hide their malicious acts of theft!Just prudent people reacting to the profilgate government spending that was guaranteed when liberals took over the house!
Bailing on the DOW is just protecting investor's assets preparing for the crash that the liberals must induce to try to re-rail the train wreak; that was their original plans for the destruction of this republic!
>:(No matter what they are trying to do, the long term market trend is nothing but down.
Looks like it’s the beginning of a big wake up, @wakeupnd:
https://steemit.com/money/@lighteye/nyse-back-to-the-1929
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FreezePeach
I wonder when will people realize that fiat money is like a hamster wheel. You just keep chasing more of it as they make more, which makes it worth less and less, and all the while you're enabling the people that make it out of thin air able to spend it, which makes it worth something to them. Lots. But it only has any value to them because you work for it. If we just ignored it, they'd have to go get jobs.
Why work to get something other people make out of thin air? Is it just me, or is that too silly?
Thanks!
Nice read. I leave an upvote for this article thumbsup