The U.S. stock market is supposed to operate on a free-market system, an open one uninfluenced by outside forces. It would seem almost delusional that a U.S. president could have any way to influence the stock market directly and could use it to his benefit. In fact, the Working Group on Financial Markets (aka the Plunge Protection Team or PPT) was created in March 1988 by an executive order from then-President Republican Ronald Reagan in the wake of the stock market crash of October 1987--- when the Dow fell 22.6%. The PPT's purpose was to provide financial and economic recommendations to the U.S. president during turbulent market times, and to maintain investor confidence. The PPT reports only to the President, is not widely covered by the press, and does not release the minutes of its meetings or its recommendations. In a 1989 speech, former Federal Reserve Board of Governors member Robert Heller suggested the Fed could directly support the stock market by purchasing index futures contracts. An August 2019 article described the PPT group and its location at the Federal Reserve Bank of New York.
It is no secret that Trump will do most anything to win an election. An August 2020 bipartisan Senate Select Committee on Intelligence report re-confirmed that Trump and his team allowed Russia to meddle in the 2016 U.S. election, and that even Putin played a role. Recent intelligence reports suggest Russian meddling is continuing in the 2020 election, and Trump has done nothing to mention or investigate it. We all know Trump was subject to impeachment proceedings in 2019 on charges of abusing the power of his office and obstructing Congress, trying to find 'dirt' on Joe Biden and his son by withholding payments to the Ukraine.
Because of the effects of the pandemic, the U.S. economy has tanked in terms of positive economic activity and the unemployment rate. The only business-related area Trump might be able to shout about in his re-election campaign, is the stock market. He was reportedly furious with the February 2020 stock market slide during the pandemic, undoubtedly because of its negative implications on his re-election campaign. Thus, the strong likelihood is, he will do anything to ensure the market continues to rise. Indeed, the market recently inexplicably hit an all-time high, despite the brutal pandemic-induced recession.
Trump's lack of moral barriers to use the PPT beyond its stated purpose, is supported by his older sister's recently released overheard recording, in which she says of Donald "he has 'no principles' and 'you can't trust him'". His niece, Mary Trump, also said lately "He's an adult human being who knows the difference between right and wrong. He just doesn't think it applies to him." It is not hard to imagine Trump working with fellow PPT member Steve Mnuchin to push the U.S. stock market higher to support his re-election. Who knows, maybe Russia is lending Trump a hand with market support too and is profiting from it by Trump tipping off Putin to his future PPT activity!
On August 26,2020, Trump tweeted that if Biden wins, "Stock markets would literally CRASH." During the 2019 impeachment process, he similarly indicated that his impeachment would also lead to a crash. Not an orderly decline, a CRASH! Trump has mentioned this more than a few times. We think this is not just his narcissistic personality tweeting, but comes from a knowledge he would love to disclose but can't: he has been 'invisibly' supporting the markets all along, much more than the PPT was originally intended to do. Trump knows the markets would perform more poorly without continued use of the PPT in our pandemic-wracked economy.
A concluding observation: Trump's PPT support would likely end if he is not re-elected in early November. The PPT would continue to be directed by Trump until Biden's January 2021 Presidential inauguration. The stock market will presumably 'CRASH' in the interim as a result, just as Trump forecast it would: a Trump self-fulfilling prophecy he will gloat about.
Notes: Complete investigative article, including suggested Congressional investigative steps, can be found on the website, VisDis.us, located below 'All the Tea on Trump'.
Use the website's 'Contact Us' process for any media requests to talk to or email a member of the Analytics Group.
About Us: We are a grassroots, bipartisan political action committee whose purpose is to prevent Trump's 2020 re-election. We will motivate Generation Z through social media to use their clout and vote before the November 3 election day. We will focus on those residing in five electoral college swing states-Florida, Michigan, North Carolina, Pennsylvania, and Wisconsin.
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SOURCE Visual Disobedience PAC Analytics Group