In The News Today

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Bill Holter’s Commentary

I can still remember the days when we were called conspiracy theorists for suggesting the “plunge protection team” even existed. It of course was created in 1988 by President Ronald Reagan by Executive order…

Top Trump official calls bankers, will convene ‘Plunge Protection Team’
December 23, 2018

WASHINGTON (Reuters) – U.S. President Donald Trump’s Treasury secretary called top U.S. bankers on Sunday amid an ongoing rout on Wall Street and made plans to convene a group of officials known as the “Plunge Protection Team.”

U.S. stocks have fallen sharply in recent weeks on concerns over slowing economic growth, with the S&P 500 index .SPX on pace for its biggest percentage decline in December since the Great Depression.

“Today I convened individual calls with the CEOs of the nation’s six largest banks,” Treasury Secretary Steven Mnuchin said on Twitter shortly before financial markets were due to open in Asia.