Government Intervention in Stock Market - (gov't manipulation)

[susu369]

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

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."
--snip--

The Sprott report does not maintain that the government should never intervene in the stock market; it recognizes that certain emergencies may argue strongly for temporary intervention, such as the 1987 stock market crash and the terrorist attacks of September 2001. But, the Sprott report notes, frequent surreptitious intervention, conducted through intermediaries, the government's favored financial houses in New York, gives those intermediaries enormous advantages over ordinary investors. Frequent intervention, the Sprott report adds also makes it impossible to distinguish between national emergencies and political expediency.

--snip--

Full story:
http://biz.yahoo.com/bw/050906/65371.html?.v=1&printer=1

[punpirate]

1. The full Sprott report...

... is here:

http://www.gata.org/SprottReportTheVisibleHand.pdf

[Demeter]

2. And the US Citizen is Supposed to Put Her Social Security Into this Rigged

Game? What a farce! Bush destroyed the economy, so that there was no chance for a small business, Greenspan destroyed the CD market by zeroing out interest, and then their buddies looted the securities markets with outright fraud, gutting and draining whole companies and trashing peoples' jobs, pensions and healthcare. Then they beat down the unions, cut the prevailing wages, and never adjust the minimum wage for inflation.

Why not just proclaim a slave state, and be done with it? Why flirt with the fig leaf of a commonwealth? Why not let California burn, (oh, yeah, Bush did that to Gray so Ahnold could take over) and let Florida wash away in a hurricane, like New Orleans (oh, but Brother Jeb needed saving, and it was an election year. Well, there's always next time).


Just remember, we are people, living, thinking, hurting people, and we aren't going to put up with this. It's going to reach the point where it's 1776 ( or worse, 1789) all over again. Then we'll see if there are any rich left alive to eat cake!