Veteran S&P Futures Trader: "I Am 100% Confident That Central Banks Are Buying S&P Futures"

Tyler Durden's picture

A Zero Hedge reader, and long-time futures trader, shares his views on the evolution of the "market", where it was, where it is, and where it may be going.

* * *

I have been an independent trader for 23 years, starting at the CBOT in grains and CME in the S&P 500 futures markets long ago while they were auction outcry markets, and have stayed in the alternative investment space ever since, and now run a small fund.

I understand better than most I would think, the "mechanics" of the markets and how they have evolved over time from the auction market to 'upstairs".  I am a self-taught, top down global macro economist, and historian of "money" and the Fed and all economic and governmental structures in the world.  One thing so many managers don't understand is that the markets take away the most amounts of money from the most amounts of people, and do so non-linearly.  Most sophisticated investors know to be successful, one must be a contrarian, and this philosophy is in parallel.  Markets will, on all time scales, through exponential decay (fat tails, or black swans, on longer term scales), or exponential growth of price itself.  Why was I so bearish on gold at its peak a few years back for instance?  Because of the ascent of non-linearity of price, and the massive consensus buildup of bulls.  Didier Sornette, author of "Why Stock Markets Crash", I believe correctly summarizes how Power Law Behavior, or exponential consensus, and how it lead to crashes.  The buildup of buyers' zeal, and the squeezing of shorts, leads to that "complex system" popping.  I have traded as a contrarian with these philosophies for some time.

The point here is, our general indices have been at that critical point now for a year, without "normal" reactions post critical points in time, from longer term time scales to intraday.  This suggests that many times, there is only an audience of one buyer, and as price goes up to certain levels, that buyer extracts all sellers.   After this year and especially this last 1900 point Dow run up in October, and post non-reaction, that I am 100 percent confident that that one buyer is our own Federal Reserve or other central banks with a goal to "stimulate" our economy by directly buying stock index futures.  Talking about a perpetual fat finger!  I guess "don't fight the Fed" truly exists, without fluctuation, in this situation.  Its important to note the mechanics; the Fed buys futures and the actual underlying constituents that make up the general indices will align by opportunistic spread arbitragers who sell the futures and buy the actual equities, thus, the Fed could use the con, if asked, that they aren't actually buying equities. 

They also consistently use events through their controlled media, whether bad or good price altering news, to create investment behavior.  The "ending" QE 3, and the immediate Bank of Japan QE news that night, and thus the ability to not quit QE using them as their front, and then propping our markets on Globex, like this is suppose to be good news, free markets totally dependent on QE, is one example.  Last night, Obama passing the amnesty bill, and the more great news about how Europe and now China are also printing money out of thin air and "stimulating" their economies with QE too, which in turn prompts the Fed to prop up overnight futures markets on Globex to make that look like great news as well.  I guess this is suppose to create a behavioral pattern for investors, that dependency on government gives us positive feedback and is good, much like Pavlov's dog and the ringing of the bell.

Why would the Fed prop up our stock market to begin with?  Weren't they just supposed to "stimulate" the treasuries market only, to keep interest rates low, indirectly, by an eventual direct purchase in secondary markets, keeping them propped up (for five years now!)?  Well, first of all as it relates to equities and utilizing the "Plunge Protection" mandate, why not just bypass the "plunge" altogether.  Can't the definition of Plunge Protection be just that?  Protection against a plunge instead of during a plunge?  Doesn't propping the market equate to "Plunge Protection" since propping alleviates plunge and "protects" us?  Does it depend on what the definition of "is" is?  And really, doesn't the Fed buying futures directly alleviate those bankers who take their money in TARP or however means and then this money doesn't make its way into the very heart of what the public deems as its consumption motivator, higher stocks and real estate?  Plus, buying futures is a means of then delivering fiat cash upon every expiration, therefore, "stimulus" to someone who receives it. 

The Fed boasts about having a printing press, and I guess this allows them to "fix" everything.  They "print money out of thin air" we keep hearing (which is true by the way) and with US taxpayer backing (fiat currency (always fails throughout history)), (perhaps post QE 3 there is an Executive Order for QE infinity), they sit on the actual bid and hold our treasury markets steady, and by buying out big sellers as they arise like Russia and China via their Belgium central bank franchise as an example, propping our dollar and then staying on that bid by other franchises, having constant bid flow into equity futures in real time hours and Globex overnite, all in order to retain US consumer confidence (since that is what we are suppose to continue to do) and the image of global strength to keep the dollar from losing its reserve status.  Their obsession of stopping a deflationary depression, has headfaked people like Bill Gross, formerly of PIMCO, and known to have started hedging long bond positions five years ago with the assumptions that Fed printing would be inflationary, and rates would move higher, but without the assumption of the perpetual direct bid in the market place by the Fed creating, "price discovery".  For now, that is.

In the end, which they know exactly when that is, the ultimate con is exposed through mass theft.  Americans finally find out what those guys on CNBC are talking about when they mention "inflation" and how it destroys buying power over time.  The end reflects the Fed stepping away from the bid in all markets.  Prior to this, of course, they prep their offshore fund accounts to take the other side and short dollar, short global equities, and short fixed income, with mass leverage for maximum gain.  I mean, why wouldn't they?  They are a private entity and are composed of non-US citizens with no accountability or oversight and they seem to be globalist humanists with a depopulation bent (Rockefeller Foundation). Why wouldn't they use our money to prop, their money to take other side in a massive global short play, then let it all crash by simply stepping off the bid of these markets.  They can then use the controlled talking heads who can relay the complexities of fiat money, index arbitrage, money velocity, currency and CDO swaps, with some geopolitical China worries, whatever, but really emphasize that the whole capitalistic system and constitution was flawed to begin with anyways, and that perhaps totalitarian fascism would be best for the country at this point since everyone's wealth is destroyed overnight and are literally hungry.  Perhaps Obama is just that person!  Maybe Dinesh D'souza was right about Obama.  This is the way to destroy us, or "equal" the playing field globally by taking us down to third world status, is it not?  Leverage the American people's money by trillions of dollars at the tops of capital markets, then bury them in a death spiral?  Maybe Thomas Jefferson knew what he was saying' "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered."  

Why wouldn't anyone believe these words written here?  Perhaps you can't imagine someone being so evil?  Wasn't the Federal Reserve Bank concept initially funded by a Rothschild in the 1800s, who used the media to deceive the public and sway the London Stock Market down negatively, who then speculated against that panicking public's sell orders by taking long positions in stocks, then making a fortune when everyone found out that the news was wrong and positive?  Then later another Rothschild founded our Federal Reserve in 1913, and others like JP Morgan who supposedly bought the US stock market in a banking panic and "saved" America in 1909?  Aren't all of these Fed owners Fabian Socialists?

Details of this last market move:

This last 1900 point Dow Jones push upwards - and the Ebola events leading into it - it was so orchestrated and heightened at critical points but the ascent and push straight up in price, and sideways nonreaction after was completely unlike anything I've seen before.   After going up for a record breaking amount of time the last five or so years, in a nonlinear exponential mania type of ascent, there should normally be tremendous volatility that follows.  But, this isn't a tech-like mania!  There aren't any buyers here other then the Fed.  The shorts were all squeezed in 2009, 2010, 11, 12, and everyone who has ever wanted to buy stocks is in! 

Modern Portfolio Theory has reached it's pinnacle, leading 55% of the American public who partake in that "diversified" portfolio theory off an eventual cliff. The market acts more like a penny stock that has been pumped up and is "boxed" (boxed, meaning, the whole float is buying and holding and held with the promoter, one broker dealer, and thus this one broker dealer can control price "discovery"(regardless of actual fundamentals and using "press releases" to sway and create order flow they want and need from naive clients)) , and less like a free market.  The Dow runs up that much that quickly, then on Globex its down .02 percent at the most over night, multiple days in a row?  No pullback?  Are you kidding me!?  Then the actual trading days have very little volume, and the peaks in price intraday also exhibit nonreactions sideways, just a couple of tics from the highs.  This price manipulation reflects that they want to expunge all shorts on all time scales, to the point that there will be no point to try, and at the very end, there will be very few.  This also reflects that a group of very smart prop trader types, experienced behavioralists, perhaps off of a prior prop desk like a Goldman, are controlling this game, and not some government treasury/cftc/sec "plunge protect" type who doesn't understand this game. 

With the indoctrination of Modern Portfolio Theory, and the masses' epistemology from experience and from "experts" to never ever get out because "it always comes back", and from corporate buybacks, the actual intraday trading float has disappeared, thus, easier and cheaper to manipulate and find the perfect "price discovery" for every situation to control investor behavior, especially during off hours on Globex.  This past situation, during the break and runup, there would be thousands of opportunities for the Fed insiders using different variations of ways to front run (without using the focus dump then pump futures contract itself), making the HFT guys front running for pennies look like complete chumps.  Can you imagine all the different ways to bet the global markets at the height of the ebola scare, which just happened to be the height of the mass media hammering the public with fear about it(haven't heard a word since!), which happened to be the exact moment of a very large Dow Jones 600 points intraday range after falling 1000 points in 9 days, which also happened to be at the height of put option premiums expanding and call option premiums eroding quickly, by knowing that the Fed is now going to prop it back up, way back up, and quickly!  Shorting put premium globally for expiration in 7 or 37 days?  Buying way out of the money cheap calls, buying the underlying equities, shorting interest rates, buying inflation, buying emerging markets and all of their liquid securities, options plays etc...  on and on.  That prior knowledge ts worth trillions, is it not?  We all know that investment bank broker dealer desks take the other side of trades, and inventory the other side opportunistically.  Why wouldn't this "bank" too, especially now that they are intertwined with investment banks thus have gained their intellectual property in trading?  And why wouldn't they influence our idiot sheepish politicians to mandate the Fed Reserve, to encourage the Fed Reserve, to stimulate, whereas our Fed could use that for "the people", while at the same time, for themselves take the other side based on their offshore opportunistic mandate?  Today's current markets are completely manipulated, every market, all the time, with our money and political Keynesian (control) mandate doing the manipulation in order for their money to front run and profit from there opportunistic mandate. 

So if I am right, and my 23 years of experience trading equities, during manias enables me to know with certainty that I am, that they are allowed to directly be involved and have a perpetual standing bid in the secondary derivatives markets, they can then take the other side when they want (no need to publicly announce this, but to justify in their own heads).  So when they take the other side in the public markets upon themselves pulling the prior US citizen backed bids in all markets for the ultimate 80 year cyclical "end game" (btw, about 23 years past the Kondratief Cycle deadline which is one way to describe the inevitable delay in this ongoing natural economic system reset) of the US fiat backed paper print con capped off by mass leverage, wouldn't they make trillions on the bubble pop on the way down?  Wouldn't they also end up eventually owning the whole US since commerce would halt immediately, everyone would lose their jobs causing mass deflation (and hyperinflation due to our currency being booted as reserve currency, and imports becoming expensive overnight) causing mass defaults on their home loan obligations?  Where do our mortgages end up now post 2008, 2009 financial collapse?  Our governments coffers via FHA, FNMA, GNMA?  And who will place a lien on our government when they default on it's loans?  Wouldn't they be able to foreclose on America? 

The US mandate on allowing Plunge Protection enabling the Fed to stick their noses directly in the equities markets was written in 1988 and is public knowledge and found in the public forum.  And the attached "memo" shows incentives from the Chicago Mercantile Exchange for Central Bankers to use their equity futures markets. 

Write me if you have any questions or comments, or if you need me to join in your efforts help to expose this Ponzi scam. 



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Babaloo's picture

So why wouldn't he just buy S&P futures right along with them? If he truly knows that they're buying 'em it's free money right ?

Hamm Jamm's picture

FED BANK = GLOBAL CANCER on Financial systems  !!!!! 

BettingTheFarm's picture

There should be no surprise that they would not let the following stages of the crisis be decided by the emotions of the market.

dirtyfiles's picture

by emotions I decide not to pay my comings bills and taxes

how is that?

russwinter's picture

The cabal pulling the plug sceanrio is exactly how this will play out. 

Infinite QE's picture

They'll need to be back on their home planet by then though.

MansaMusa's picture

@Infinite QE:  their home planet is Israel, no doubt that they all have dual citizenships and a villa in Tel Aviv

BIHM's picture

Yeah what's unbelievable to me is that this is just hitting people now.  We have watched max drawdowns decline by 80% over the past 4 years.  With the exception of October that is, and well the entire world saw the Fed step in there.  And the biggest problem with any central bank trading in the financial markets is it completely destroys the integrity of the market.  Market is an allocation of a finite resource i.e. money.  Money is an infinite resource to central banks and thus destroys the entire funciton of efficient market valuation.  As we see in the markets today.  Everything is rigged.

JR's picture

Fantastic article.

The critical point the author is making is that the mysterious buyer (the Fed) sitting at the table has unlimited resources at his disposal. You don’t know how much he has, or what he buys, but in effect he controls all the sellers. You want to sell, even a bad stock, he’ll buy it and he can spend an infinite amount. He destroys the game. You can’t have an exchange of value between two stocks because if some are worthless the Fed buys them anyway. There is no discipline.

We don’t have true markets. It is not a market when bad news on Friday afternoon creates record prices. And as everybody admits, the investors totally depend on the Fed for what the market performance will be.

The Fed can control the news and act on it; and the biggest news events they control are the release of the FOMC minutes and market decisions. The Fed knows in advance and can be there as the mysterious buyer.

The Fed can show that whatever news it was, such as Obama’s executive order yesterday, that it was good news for investors by using its buying power. When the market goes up on that announcement, it shows how the Fed controls the market.

An excellent article!. We should never lose sight of the fact that the Fed owners have infinite money to use to control the markets. And that this so-called QE is used as a distraction so the Federal Reserve’s stimulus action can be seen as legal, rather than as stealing, while market purchases and other actions can be taken under the table.

williambanzai7's picture

They may seem omnipotent today, but when the market deluge finally arrives, they will be hanging by their toes in the shadow the the guillotines.

Karaio's picture

The guy talks too much with demenos information.

Petulance in person.

In the background the guy is scared, are you with the ass in hand.


seek's picture

They have infinite fiat, not infinite money (aka value.)

The central bank of the Weimar Republic had infinite fiat as well. It works... until it doesn't. When that happens -- well, the world has never seen a loss of faith in a currency on this scale. It will be epic, and a story shared with decendants for generations -- if we survive it.

Tyranny is Love's picture

Yes, but if I may clarify one important point on your comment.

"We should never lose sight of the fact that the Fed owners have infinite money to use to control the markets"

They have infinite currency, not money.

Money, currently only gold and silver, money is merely the representative device for a man’s capacity to produce and create.


or for the full quote.

"The people, always have been and always will be the ultimate backing commodity of our currency, because at its core, money is merely the representative device for a man’s capacity to produce and create. Dishonest men do not create or produce. They steal. Thus, the currency of a morally degenerated society is by definition degenerate itself. The currency of a degenerate society is the proxy not for a man’s ability to work and think, but rather a proxy for a man’s capacity to steal and evade work."

Ann Barnhardt.


SubjectivObject's picture

I believe the "currency of a degeerate society" becomes "fiat".

Currency of a non degenerate society, where it is backed by some productive asset (e.g.: money, production, commodities) is properly currency.

TheReplacement's picture

Sure but to what end?  Are you like most who believe they are painted into a corner or are you one to think maybe they are just outright trying to buy everything so they can be real feudalistic masters of all?

IndyPat's picture

Seems the author thinks this is the king hell daddy of all pump and dumps.

If that is so, and I think it is, then why not short everything rock bottom and just wait for that magical day.

Ain't like its that far out.

Seriously, if they are pumping on one side and shorting on the other...why not take the same tact? You don't need to know what they know...just need to do what they do.

Anyway. Fuckifiknow.....

Dutch's picture

The Fed is training market players to buy the dips. On 10/15 the Fed stepped into a no-bid market and made it better. Traders are learning that they can confidently buy the dips, and the Fed does not need to support equites or slam the VIX. The traders do it for them.

The problem is that price discovery in all things has been destroyed. To ever get back to real price discovery will create wealth destruction and wealth creation like we have never seen before. The uncertainty will drive many market participants either to the sidelines, or to dump it all at any price. Most likely, trading and banking institutions will simply lock up and shut down. Real world price discovery will be the relative value of bartered things traded between neighbors.

Finally, you all are giving TPTB too much credit. Market interventions in '98 and '08 were just too easy, and, like an opium addict, they came back for more, to move things along, it was just such a short term expedient thing to do. Now they are as scared as we are, perhaps more so. The torches and pitchforks will be out. What they are doing, is to turn people against each other, and turn everyone into tribal beings. That's what the current politics and international relations are all about. Again, not because it is a smart thing to do, but because we are down the road now, and it is all they've got to keep themselves out of the front and center of it all.

Good luck to all of us.

dubrunna's picture

BS. Can we accept the fact that its actually retail piling in, and that "not everyone who wants to be in is already in." This is the same argument that was being made at S&P 1040. There is easily enough investor money out there to take this thing into 2300+ by mid next year. US Fund managers and hedge funds have underperformed the market all year and need to pile into Apple, ect, to square their books. Its no secret that a lot of the non QE $ coming into the US market this year was from foreign sources (cleanest dirty shirt being the US argument). Next year watch this trend of US money managers continue to pile in, while zero will keep launching articles saying its a pure conspiracy. I'm not saying to buy the market, or that US data is actually good, but to be careful in what reasons you attach to certain outcomes. If this is too hard, you can continue believing every major move in markets is pure manipulation.

insanelysane's picture

The only retail piling in is from 401k since the inflow is greater than the outflow.  That will change in the next decade as the boomers truly reach retirement age.

Wait What's picture

you're an idiot. if the BOJ explicitly stating they were buying equities isn't 'conspiracy buster' info by itself, central bank jawboing during market dips and the consequent spike in their preferred indexes is. Why do you think Draghi, Kuroda, Bullard feel the need to raise expectations of more QE? to manipulate the market into the belief that the liquidity spigot will never be turned off, to keep 'inflation' of assets stable and rising. this isn't rocket science, it's a confidence game, literally.

sun tzu's picture

You're a true moron. Why do you think Draghi keeps announcing whatever it takes every week? How does that help the economies of Europe? It doesn't. It only helps the equities and bond markets. The bond market on Europe has been stable. Only the equities have been propped. Notice every time the European equities markets drop, Draghi comes in the next day with his jawboning. 

dubrunna's picture

None of you idiots have addressed the problem with the article: he offers no shred of proof whatsoever for the mysterious accusation that the fed continues QE post QE. How gullible are you? All of your comments address the obvious central bank interventions of recent times but you are all too stupid to look for, or even ask for any proof of what this "futures trader" is saying. Go hide under your bed with guns and gold jackass.

ebworthen's picture

Sure, why not?  It's a big circle jerk:

Bankers>Central Banks>Wall Street>Elites/CEO's>Insiders>.Gov Mandarins>Bankers

Seasmoke's picture

Why I try telling everyone around me you have to fight back now before it's too defense is a good offense....especially when you will be too weak and starving to fight back !!! 


(But I can tell you all, no one is listening/cares)

TheReplacement's picture

You have to tell them HOW to fight back.  That in itself seems to be a puzzle.

Son of Captain Nemo's picture

"Can't the definition of Plunge Protection be just that?  Protection against a plunge instead of during a plunge?  Doesn't propping the market equate to "Plunge Protection" since propping alleviates plunge and "protects" us?  Does it depend on what the definition of "is" is?"...

Nice to know those now in-famous words of Billy C. could be recycled to speak of something more malevolent and dangerous than any "cum stain" could ever hope to be for a President let alone the average guy on Main Street!

Great post ZH


Temerity Trader's picture

Duh! So, they periodically at strategic moments, transfer a couple of hundred billion $ to BOJ with instructions to buy the futures for them, etc. The New Normal includes this, but just as important is near-zero rates enabling massive stock buybacks. Enabling consumers to borrow and buy more crap they don't need and can't afford. "Gas prices are down, so consumers will have more to spend!" Never any mention that people will now have more they can put into savings. Since it is a crime to save money and the Fed punishes savers with .05% interest. Incentives abound like 8-9 year car loans, no qual loans, credit cards, and soon back to the everyone-deserves-a-home loans. Then comes loan forgiveness to free up more money and stall the inevitable debt disaster. The New Normal is here to stay, the alternative is total collapse.

IndyPat's picture

Wow. You are getting .05% interest?

BaggerDon's picture

No question about it..............all of this has been planned out, even before the 2009 MONEY TRANSFER........the creation of ETF's to more easily herd the sheeple.........the "assasination of MF GLOBAL"....the BANKSTERS of LAST RESORT, are resorting to their LAST RESORT - ANYTHING GOES!!

Racer's picture


"Under the Police Reform and Social Responsibility Act 2011, protesters are prohibited from setting up camp in Parliament Square. The law was introduced following a long-running anti-war protest in the square outside Parliament."


The Criminal Banksters and their pals in crime, the politicians don't allow the people to protest now

enloe creek's picture

all well and good.  just one fantastic blck swan scenario for shits andd giggles, OK?  say there is a op just as you describe, In what currency are these trades settled?  how do they account fr gold if the US $ is under the bus.  also whatif someone at the fed is working for a foriegn power that intends to front run the fed at the most critical moment and spoils the party ouch that would be fuckin hilarious.what is this Israel going to take over the world.

insanelysane's picture

I read the entire article and was a nice explanation of how the manipulation is technically done.  This time is truly different at least in magnitude and the global coordination.  The author could have added the recent dog and pony shows where the big banks have been brought to "justice" over their manipulations of every market so that the sheeple can be reassured that there is only minor manipulation going on and our government's are watching out for us.  The farce continues.  If one country steps out of line they will be crushed but I do believe it ends when a group of countries ban together and decide to upset the system.

Took Red Pill's picture

BRICS. Why do you think Putin is being made into a viilain?

Cathartes Aura's picture


because all dualist narratives that elevate the "good guy" require a "bad guy" for that delicate balancing act.

can't be "good" without a "bad".

all of this is irrespective of any real truths, as always.

that's history in a nutshell.

Dragon HAwk's picture

For every move there is a counter move, for every crash their is a counter rise, for every action there is a reaction..

  assuming the Big Crash occurs.. the Surprise uplifting.. will be very pleasant... design the  Rose garden that is going to be placed in the Shell crater..  that my friend is worth of your Intelligence and considerations  c/h/l

insanelysane's picture

"Every action there is a reaction" only exists in a real market with buyers and sellers.  This market has buyers and sellers but they are all on the same side making it look like an actual market.

TheReplacement's picture

As long as there are humans there will be a real market.  Eventually the market will exert itself again. 

The more it is manipulated and screwed with the more epic will be the reconcilliation.

alexmark2013's picture
Sell, Sell, Sell... The Central Bank Madmen Are Raging... Everywhere The Real World Evidence Points To Cooling Growth, Faltering Investment, Slowing Trade, Vast Excess Industrial Capacity, Peak Private Debt, Public Fiscal Exhaustion, Currency Wars...
rejected's picture

This entire scenario was foretold before the National Reserve (Rebranded the Federal Reserve) came to be. Of course those that warned about it were the kooks of their day and scoffed at. Like today. 

1913 was a very bad year. The citizens gave up their freedom with the 16th amendment, the states gave up their soverignty with the 17th amendment and the national government gave up it sovereignty with the passage of the Federal Reserve Act. All was transferred to the Bankers.

We now suffer the consequences of our collective actions but still go about like all is normal even though it's easy to see something is not quite right. We've been warned... 


Magooo's picture

NO fucking kidding- you just figured that out?


The BOJ did announce that they are buying ETFs to the tune of 20 bill USD per month - they are the biggest player in the japanese markets...


What did you think don't fight the Fed meant?

ben_bernanke's picture

Sounds like someone lost some money going short recently, and rather than blame himself, he is creating a phantom menace to account for his own trading error. I lost some money by hedging and buying puts on this latest rally. I don't blame the Fed for that and in fact it seemed reasonable at the time. Sometimes a bet fails. Get over it.

Oh, and just because you've traded 25 years or whatever doesn't mean you are a credible source for proving the Fed buys futures. You offer no proof in this article. Only "gut feel". Just sounds like another sore loser in the markets who can't admit a mistake and wants to blame the devil for his sins.

Laughinggrizzley's picture

I hope you are not some Canadian working at the ST Louis Fed in charge of research?!


angel_of_joy's picture

Are you the real moron or just an impersonator ? You sound rather convincing, as the real deal...

lunaticfringe's picture

He offered the only proof there is available- numb nuts- there is a link...not that you would read it. It was the 1987 crash induced PPT or the Presidents Working Group on Financial Markets. Reagan's invention. (another glowing example of the damage of executive orders) Google the working group and see the members. That should tell you everything you need to know. 

nevadan's picture

THis is a link to a report by Sprott Asset Management on the PPT.  Pretty clear how it all works.

world_debt_slave's picture

the vampireocto is alive

OC Sure's picture

Yes. Filling its appetite and growing.


The only way to dismantle this monster is to sever its head.


Bon appetit.

Its_the_economy_stupid's picture

If you are looking to make bank in the markets, you better be at the nexus of money flows, otherwise the only way to win, is not to play. Long (life sustaining) physical assets.

Bossman1967's picture

reading this article was a waste of time anyone who doesn't realize the markets are rigged would not know much. where do people think 9 trillion dollars disapeared to in 6 years? but on the positive end of this the money can be put back minus the losses on the way down and the fools who don't believe the facts of this article will pay the ultimate bankruptcy.