Government Intervention in Stock Market is Detailed by New Report, GATA Sa

MANCHESTER, Conn.--(BUSINESS WIRE)--Sept. 6, 2005--A major Canadian financial management firm that a year ago published a compilation of evidence of central bank manipulation of the gold price has just done the same in regard to the U.S. stock market and has reached a similar conclusion.

The new report is titled "Move Over, Adam Smith: The Visible Hand of Uncle Sam," and has been published by Sprott Asset Management of Toronto. It was written by the firm's president, John P. Embry, and his assistant, Andrew Hepburn, and concludes that the U.S. government has intervened to support the stock market so many times that "what apparently started as a stopgap measure may have morphed into a serious moral hazard situation, with market manipulation an endemic feature of the U.S. stock market."

The new report relies largely on reports of news organizations and the essays and research papers of economics academics that, as might be expected, have not been well-publicized in the United States. But some of these reports have been circulated by the Gold Anti-Trust Action Committee over the years.

"Given the available information, we do not believe there can be any doubt that the U.S. government has intervened to support the stock market. Too much credible information exists to deny this. Yet virtually no one ever mentions government intervention publicly, preferring instead to pretend as if such activities have never taken place and never would.

http://biz.yahoo.com/bw/050906/65371.html?printer=1

is publish the actions on some obscure web site somewhere.

Why, even when the military & government WWW is up, they will not down the public WWW for long. Because then they would not have a way of publishing the trades publicly, and quietly. So they could not intervene in the markets without being investigated for insider trading.

IMHO

I know virtually nothing about the stock market. We pulled all our money out of stocks before Enron crashed and I won't put money back in. Nevertheless, I watch the Dow almost every day, just out of curiosity. (And, with thanks to DUers, with a little more knowledge than I used to have.) And what continues to amaze me is how easy it is to see them "fix" the market. It's routine to see the Dow close right around some nifty little benchmark -- like 10,500.16. That's coincidence? When it happens so routinely, it's almost certain to happen at least once a week. Give me a break.

Or, as Rummy would say, "Who knew?"

(Billions?) had been "invested in stocks" until we could actually "reconstruct".

lemme look around...

if maybe this could be connected, even just an itsy, bitsy, teeny weeny bit, with Wall Street and their puppets and concubines trying to sell "Private Accounts" in place of Social Security.

Next thing they will be admitting there is no such thing as a "free market".

"The Sprott report can be found in Adobe Acrobat format at the Sprott Internet site here: http://www.sprott.com/pdf/pressrelease/TheVisibleHand.pdf

It also can be found at the GATA Internet site here: http://www.gata.org/SprottReportTheVisibleHand.pdf"

I'll add this to my list of screwed up things that may be going on in the US economy. What I'd like to know is how much money, if any, the government has used to manipulate the markets. It's kind of ok for them to convince a bunch of funds and banks to start buying. One place to start would be to look at the turnover of these index futures at the time.

Hey I looked at these sites. Looks like they're a bunch of pro-gold nuts.

terminology has been around DU for a few years. Remember especially in 2001-02 everytime blivet* opened his pie hole how it would plunge right then, only to be supported by a flurry of buying 10 minutes into his comments?

The "invisible hand", is about as real as the wart in my mind. Capitalism is such a failure, the state is barely keeping it propped up, as it has for the last 100 years. Keep on monetisating and borrowing.