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To: yard_man who wrote (187910)	8/14/2002 10:16:48 PM
From: Real Man	Read Replies (1) \| Respond to of 436258

Me too... First they take gold down, then they take markets up. The game is always the same

To: yard_man who wrote (187910)	8/15/2002 3:34:41 AM
From: Whitmore G.	Read Replies (1) \| Respond to of 436258

Be advised that the PPT felt it had to do this to prevent a "Black Friday" type event today, options expiration day. Even so they could not muster sufficient volume to prevent the market from moving in direction that FA dictates in the course of time. Above all the PPT must not announce any of these interventions as that has proven to only dampen the intended purpose of these kind of actions in the past,i.e. buying massive contracts in the bullish position in the futures pits when things appear to be getting out of hand. One only need look at the announced interventions of the Central Banks, i.e. Japan, to realize this. Even coordinated currency interventions rarely work for more then then a few weeks to months before the over whelming volumes of the true market direction is imposed. This is well known in academic circles. The actions of the PPT however breaches the bounds of what has here to now been regarded as acceptable fiscal policy on the part of the Fed. If it were ever to be proven, or become well known, that such even existed then all bets would be off. International markets and finally domestic as well would inevitably rid themselves of a, so called, free market that was really being manipulated by a secret "Star Chamber" in the correct and well known adage that "Power Corrupts and Absolute Power Corrupts Absolutely." One need only look at the announced market interventions in the Japanese markets by it's governement in an attempt to use public funds to support the Nikkei to see how ineffective this is in the long run. In effect such attempts by governments to mannipulate stock markets flys in the face of the very foundation of a "Free Market" and as such is doomed to failure. It only forstalls events and purhaps smooths them over whilst giving time for those who are in the know to make their escape with a profit even.