What, what, what?????
America’s Banksters went to war over the Russian invasion of Ukraine?
First, let’s identify who went into battle today, with the PPT as defined by Investopedia:
The “Plunge Protection Team” (PPT) is a colloquial name given to the Working Group on Financial Markets. Created in 1988 to provide financial and economic recommendations to the U.S. President during turbulent market times, this group is headed by the Secretary of the Treasury; other members include the Chair of the Board of Governors of the Federal Reserve, the Chair of the Securities and Exchange Commission and the Chair of the Commodity Futures Trading Commission (or the aides or officials they designate to represent them).
The name “Plunge Protection Team” was coined by The Washington Post and first applied to the group in 1997.
Reassuring enough, they must bomb people with naked short positions to crash their economy, right?
President Dementia made a live appearance today to announce such harsh sanctions that Vladimir Putin called Winnie the Poo in Beijing crying on the phone for hours. Or not.
The truth? After America’s 81 Million Vote Moron finished, Secretary of the Treasury Janet Yelled deployed PPTeam 1 and if one believes the article in ZeroHedge tonight:
and conveniently (also via ZH):
The Fed turns around, just like the PPT’s always do, sells puts, shorts gold, sells paper gold, naked shorts gold and silver, then liquidates its bogus positions in the after hours markets to willing suckers.
It’s easy to see when PPT1 appeared in the market:
Which also created rallies in the S&P 500 and NASDAQ:
Of course the rallies from the depths of trader hell were matched with liquidations of gold and WIT-Crude oil profits:
Kudos to General Jay ‘Lyin’ Powell and Comadante Yellen for a job well done today! Hopefully they didn’t use up all their ammo because they are going to need a lot more fiat funny money to stave off this bear market.