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Ex-Plunge Protection Team Whistleblower: “Governments Control Markets; There Is No Price Discovery Anymore”

February 24, 2015

Ex-Plunge Protection Team Whistleblower: “Governments Control Markets; There Is No Price Discovery Anymore”

One year after the great stock market crash in 1987, US President Ronald Reagan launched the “Working Group on Financial Markets.” Conspiracy theorists believe, however, that the real task of this committee is to protect against a renewed slump in the stock market. In the jargon of Wall Street, the working group is known as the “Plunge Protection Team.”

One glimpse at a few days suring 2007/8 and it is clear that ‘someone’ with infinitely deep pockets was able to support markets on several critical days – though, of course, anyone proclaiming intervention was propagandized away as a conspiracy theory wonk. However, as Dr. Pippa Malmgren – a former member of the U.S. President’s Working Group on Financial Markets – it is not conspiracy theory, it is conspiracy fact: “there’s no price discovery anymore by the market… governments impose prices on the market.”

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In this 38 minute interview Lars Schall, for Matterhorn Asset Management, speaks with Dr Pippa Malmgren, a US financial advisor and policy expert based in London. Dr Malmgren has been a member of the U.S. President’s Working Group on Financial Markets (a.k.a. the “Plunge Protection Team”). They address, inter alia:

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