{"id":28517,"date":"2020-03-04T14:19:05","date_gmt":"2020-03-04T22:19:05","guid":{"rendered":"https:\/\/goldco.com\/?p=28517"},"modified":"2022-12-28T06:42:11","modified_gmt":"2022-12-28T14:42:11","slug":"plunge-protection-team-hard-work","status":"publish","type":"post","link":"https:\/\/goldco.com\/plunge-protection-team-hard-work\/","title":{"rendered":"Is the Plunge Protection Team Hard at Work?"},"content":{"rendered":"

If you\u2019re not familiar with the President\u2019s Working Group on Financial Markets<\/a>, you should be. Also known as the Plunge Protection Team, the group works behind the scenes to shore up financial markets. Consisting of the Treasury Secretary, Federal Reserve Chairman, and the Chairmen of the Securities Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), the Plunge Protection Team covers all the major financial firms, exchanges, and markets. And when markets are threatening to collapse, it pulls out all the stops to keep markets running.<\/p>\n

How exactly the Plunge Protection Team works, no one really knows. We suspect that the members of the team are in close contact with major Wall Street CEOs, encouraging them to boost liquidity, purchase stocks, and otherwise prop up financial activity. And in the event that isn\u2019t successful, there\u2019s no reason to think the Plunge Protection Team doesn\u2019t have the ability, means, and will to pledge government resources to bail out markets. And there\u2019s every indication that the Plunge Protection Team is hard at work.<\/p>\n

Just look at movements in stock markets in late trading last Friday. At 3:40PM on Friday, the Dow Jones was down around 1,000 points on the day, the day after its worst one-day points loss ever. But in the last 20 minutes of trading, the Dow rocketed upwards almost 700 points, to close with a moderate loss. The S&P 500 did much the same thing, down about 100 points at 3:40PM before shooting upwards in the last 20 minutes. Then the Dow made its biggest one-day points gain ever on Monday. Coincidence? Hardly.<\/p>\n

We\u2019re entering an era in which the federal government is poised to do everything it can to keep stock markets propped up and keep up the illusion of a functioning economy and financial prosperity. A stock market crash and recession right now would harm President Trump\u2019s reelection chances this fall, which is why he is putting extra pressure on the Fed and Treasury to keep markets chock full of liquidity.<\/p>\n

Expect the Plunge Protection Team to remain hard at work over the coming months, as stock markets want to and need to drop, but the government doesn\u2019t want to let them. We\u2019ve been warning investors for a while that what goes up must come down, but many didn\u2019t want to heed those warnings. Now they\u2019re learning the hard way that stocks can be subject to sudden corrections.<\/p>\n

Many of those nearing retirement remain over-invested in stocks. That\u2019s not terribly surprising, as many investors still hoped to make up for the losses they took in 2008. But in keeping their portfolios in stocks, they put themselves at risk of taking huge losses once again as this current stock market bubble begins to pop. Those who want to protect their retirement assets need to start thinking about investing in gold<\/a>, silver, and other hedges, if they haven\u2019t done so already. Otherwise they\u2019re putting the security of their retirement savings at risk.<\/p>\n","protected":false},"excerpt":{"rendered":"

If you\u2019re not familiar with the President\u2019s Working Group on Financial Markets, you should be. Also known as the Plunge Protection Team, the group works behind the scenes to shore up financial markets. Consisting of the Treasury Secretary, Federal Reserve Chairman, and the Chairmen of the Securities Exchange Commission (SEC) and Commodity Futures Trading Commission […]<\/p>\n","protected":false},"author":13,"featured_media":32118,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[208],"tags":[785,218,786,787,264,623,788],"class_list":["post-28517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-federal-reserve","tag-cftc","tag-federal-reserve","tag-financial-markets","tag-plunge-protection-team","tag-sec","tag-stock-markets","tag-treasury"],"acf":[],"yoast_head":"\nIs the Plunge Protection Team Hard at Work? – Goldco<\/title>\n<meta name=\"description\" content=\"Stock markets were all set for another 1,000 point drop last Friday, before they suddenly shot up. 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