NooooOOOOooow, Russ, don't pull naivete' at this jucture...it is most unbecoming. First of all, I wasn't speaking of "literal" telegraphs...that preferred method of financial communication went out with the Wells Fargo Stage Coach.
Secondly, naivete about the NECESSITY of communication between "players" in the marketplace, as conspiratorial as it appears on the surface, is STILL necessity. The plunge protection team is a 'TEAM' not a single individual or a single firm. And it is NOT a new concept.
The manipulated gold market is a TEAM effort, not one individual, altho' I LOATHE Alan Greenspan's efforts in that regard.
The Bretton Woods Currency Accord that gave birth to the EURO and the AMU shortly is a TEAM accord, not a single nation's conceptualization and implementation.
You name the financial institution, and I'll show you the TEAM effort. And team members COMMUNICATE with each other and it is NOT wrong, nor is it to be particularly envied. You see with possession of information, there comes responsibility! Some can handle it and some can't.
BUT, Russ, we'd REEEEEEEEEEALLY be in deep trouble as you characterize it if there wasn't clear and advanced communications between the TEAM members. That level of communique is NOT evil, it just "IS"...
<the resemblance of the word "IS" in the above sentence to Clinton's parsing of "IS" is totally coincidental> |
