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Ellen Brown adds:
"The international bankers who caused the financial crisis are indeed capitalizing on it, consolidating their power in 'a new global financial order' that gives them (more) top-down global control" than ever with the public exploited and stuck with the bill.
Are Our Markets Manipulated?
Forget about "animal spirits," random movements, and asset prices reflecting true values, and understand that all markets are manipulated up and down for profit with insiders profiting hugely both ways.
Catherine Austin Fitts calls it a "pump and dump" scheme to artificially inflate valuations, then profit more on the downside by short-selling. "The practice is illegal under securities law, yet it is particularly common" because the gains are enormous, in good and bad times. When carried to extremes, Fitts calls it "pump(ing) and dump(ing) of the entire American economy," duping the public, fleecing trillions, and it's more than just "a process designed to wipe out the middle class. This is genocide (by other means) - a much more subtle and lethal version than ever before perpetrated by the scoundrels of our history texts."
The so-called Plunge Protection Team is one of the tools, authorized on March 18, 1989 under Ronald Reagan's Executive Order 12631 creating the Working Group on Financial Markets (WGFM) with top government officials, including the President, Treasury Secretary and Fed chairman in charge.
It subverts market forces by theoretically intervening to avoid crises. In fact, it works both ways to drive valuations up or down along with active insider participation for huge profits with the public none the wiser.
Schechter explains that "this secret branch of government has a sophisticated war room, using every state of the art technology to monitor markets worldwide. It has emergency powers. It doesn't keep minutes. There is no freedom of information access to its deliberations." Google has 147,000 entries about it, but only 10 can be accessed, so the most secretive shenanigans are hidden along with the role of the Fed, the Treasury, and the White House.
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