I'm much more inclined to believe it's a myth, certainly I haven't seen anyone credible and influential in the markets believe it's true, and I have seen it mentioned quite a few times on the net.topcropper said:I've heard lots about this Plunge Protection Team, PPT. I reckon it's an urban myth.
Just think how many millions of dollars it would take to shift the Aussie market say. It would take billions to shift the US. OK, you could shift the market for a day. Then it would take the same money again to hold it up the next day. What would be the point? You couldn't shift a market for very long no matter how many billions you used.
That's what I reckon. I know nothing about this though, just using my commonsence.
See ya's.
The lessons of the markets are that they can be pushed around by governments in the short term but they always win in the end and the payback can be severe. Soros's coup with the GBP is one of the better examples.