What was the fed doing to influence money supply in that timeframe, not just that month, but the months before and after?
Not much. Don't you know that banks create the money supply? FED doesn't need to be involved. What did banks do before 1913? If banks create a money supply that rises rapidly which isn't attended by a demand for loanable funds in excess of that which is returned back to the money markets so that interest rates rise, then there's nothing wrong. You really have to get that down before you can make any claim about whether FED policy was incorrect from '95 - '98.
So Greenspan used moral suasions, did the fed use other tools available to them to stem the irrational exuberance.
Greenspan later stated that the exuberance wasn't irrational, but was justified by a quantum leap in productivity.
It sounds like you don't believe that the Fed believes that money policy has an affect on the equity markets.
What I know and what you believe are two disjoint subjects.
Is that your belief?
Let's get back to your paranoid belief about the existence of the "PPT" and your claim that FED indirectly implements transactions in the stock market. The only person still alive who knows about the evolution of the actual "PPT" is me. What I have to say is significantly different in comparison to the mythical explanations, revisionist creations, and inventions of little kiddies and other third rate hacks that you find in the media. You have invented something that doesn't exist. You continue to believe in it as long as you go on losing.
Way back when, there were lots of such unicorn creations. Ever hear of the Trilateral Commission? The Kuhn-Loeb International Banking Conspiracy? You don't hear much about these creations now, but there was a time when guys like you, Chortle, went about wagging their yaps in the same way, warning all of us about the imminent threat of these myths. We are still waiting.
I once asked David Rockefeller about the Trilateral Commission and applied the screws to him. What he told me fit my fine knowledge of the history surrounding the true Trilateral Commission, and he told me some things I can't divulge which caused me to laugh and laugh. He laughed too. You idiots were and are the butt of the joke.
Are you saying that the fed doesn't operate open market activities through banks and brokerages?
What has that got to do with your contention that the "PPT" the FED, or the FED's "PPT", engages in stock market transactions? Further, as usual, you failed to read my previous post. You failed to see that I completely refuted any claim you've made by rendering them contradictory. Specifically, I showed FED both does and doesn't affect the economy, stock market, money markets, all markets. If FED does, so do you.
Let me make it clear. FED is extremely limited in what they can do and this grates them no end. They can't do anything because they abused their authority in the past, and the US went off embracing socialism and anti-wealth so that production flowed to the foreigners. The foreigners have the wealth and this forces FED to act responsibly. That reality completely refutes any claim about "PPT" nonsense, but I don't think your fear and paranoia will allow you to see that truth. Mostly though, it's your trading losses that keep you piped. Without the "PPT" myth you won't have a way to off load your own failure.
But that wasn't your point. Your point is to try somehow to refute me. I wrote the book on the FED and I know the system better than anyone alive. Got that? No, you don't got that for one reason: I'm talking to you and it is absolute truth among hacks like you that gods do not talk to slobs. |
