The President's Working Group on Capital Markets (aka PPT - Plunge Protection Team)

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.

Please have a look around and if you like what you see, please consider registering an account and joining the discussions. When you register an account and log in, you may enjoy additional benefits including no ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!


Your Host
Reaction score
ZH highlighted this important story today:
Today, BusinessWeek's Michael Serrill and Jonathan Neumann have released a blockbuster report based on a FOIA response by the Treasury, which proves that in America rules are only for little people, that this country has been a banana republic for years, that Animal Farm was spot on, and gives excruciating detail of how Hank Paulson tipped off a select group of Goldman diaspora hedge fund managers about the eventual failure of Fannie and Freddie 7 weeks ahead of this information becoming public knowledge. The report basically is a summary of a meeting that took place at the offices of Eton Mindich's Eton Park headquarters on July 21, 2008, 7 days after his famous '“If you have a bazooka, and people know you have it, you're not likely to take it out," speech and 7 weeks before both GSEs effectively filed for bankruptcy and were put into conservatorship. Now if it only ended there it would have been fine - a case of potential criminal collusion between the government (although nothing specific against Paulson as he didn't actually trade: he just made sure his former Goldman colleagues made money), and the 0.00001% in the face of a few multi-billionaires who most certainly did trade on material non-public information sourced by Hank. Where it however gets worse is when one considers the actual role of one Eric Mindich in the hierarchy of the Asset Managers' committee of the President's Working Group on Capital Markets, better known of course as the PPT: a topic we discussed first back in September 2009 when we asked "What Is Goldman Alum Eric Mindich's Role As Chair Of The Asset Managers' Committee Of The President's Working Group?" Back then we did not get an answer. Luckily, courtesy of a few answered FOIA requests, some real investigative journalism, and not reporting for the sake of brown-nosing just so one can get soundbites for their next name dropping "blockbuster" and straight to HBO movie, we are starting to get the full picture of just how high in US government the Goldman Sachs controlled "crony capitalist" adminsitration truly runs.


Background material:

- the IMF discusses the PPT (.PDF):

- Robin Griffiths, technical strategist at Cazenove Capital explains the markets, POMO and PPT on CNBC Europe (video):

- Moar sunshine (lol @ McCain):
Almost too shocking to comment.

They are free to do whatever they want and the only thing that might trip them up is stepping out of line.

I deleted a 5 letter word beginning with C
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:
  • Malmgren’s recent book “Signals: the breakdown of the social contract and the rise of geopolitics”;
  • the “inflation vs deflation” debate
  • the closer ties between Russia and China
  • the future of the Euro
  • Germany’s gold reserves
  • and the phenomenon of “financial repression”
  • Moreover, Dr Malmgren explains what she foresees as the endgame of the financial crisis.

Full interview:
comment from ZH regular, knuckles -

Careful.... Pippa's got some interesting affiliations. (from Wikipedia). Don't make her right or wrong, but some interesting relationships. In fact, I agree with her premise all's fucked and controlled in one fashion or another....
Is there a nail gun in her future?

Member, Council of Foreign Relations
Member, Royal Institute for International Affairs
Member, Institute for International Strategic Security
Member, National Association for Business Economics
Member, Chatham House
Member, British Institute of Directors
Member, Reform Club in London
Member, Metropolitan Club in Washington D.C.
Member, International Advisory Board of the School of Oriental and African Studies (SOAS) in London,
Governor, Ditchley Foundation in the UK
Senior Advisor, Deutsche Bank
Senior Advisor, Prudential Real Estate
Member, International Advisory Board Bourne Park Capital[3][not in citation given]
Member, International Advisory Board Old Square Capital

She has served on the Board of Advisors of the Oxford Banking Forum, Mount Vernon College, the Aspen Institute in France, and the World Economic Forum Environment Project. She has lectured at the London School of Economics, Tsinghua University in Beijing, the MIT Sloan Fellows, Oxford University, West Point, and Duke University Business School.
I would expect nothing less from someone who was a part of the PPT. In fact, if she didn't have those relationships, I would really question her PPT credentials.
Top Bottom