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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (5720)	12/10/2002 4:03:59 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 24758

I have followed the discussion and comments. Not all of the comments were directed to discussions about directly buying or selling of equities or index futures. Many comments are about how foolish people are to believe that there is a PPT that is influencing the direction of the market. I have asked a couple of questions that you did not respond to. Is there a reason for that? One of them was whether or not you believed that the FRB ever conducted open market activities with the intended result of influencing the equities market? I'll ask another...Do you think that the FRB has ever implemented money policy with the intended result of influencing the equity market? So is it your contention that the member banks conspired with the Fed to bring asset prices down in the last two years? That's a pretty serious allegation. No, this is not my contention at all. What my contention is can best be told by analogy. I was in sales for some time. My boss always referred to myself and my fellow salesmen as being coin operated. If they wanted action out of us, just tie our compensation to that activity. I believe that member banks have pretty much the same motivation. They are going to go where the money is...or, will act in a way to preserve what money they do have. That makes their actions very easy to influence. Is it your contention that the FRB didn't use any of the tools available to it with the intended result of influencing the equities market in either direction?