Loading ...QUESTION: Dear Mr Armstrong …
An associate emailed me and asked me if I knew what PPT was?
I told him …. I did not and to elaborate.
He emailed me back saying PPT = plunge protection team!
I then googled it and it seems some people actually believe that the fed/US gov. have some mystical organisation called the PPT that buy the market up and stop it from falling. It seems this is what some believe happened today!!
That’s why the market reversed so hard! LOL
I know I live a pretty isolated life trading markets watching very little TV and only reading your blog whilst eagerly anticipating Socrates JR but to say this “PPT” exists is just nuts.
Its amazing what people will convince themselves.
….
Thanks again for all your help. Glad to hear your in India I am of Indian origin although born here in the UK.
Take care
Regards
M.S.S
ANSWER: You are correct, as there is no PPT. This is precisely the sort of conspiracy theory that creates investigations every time. There are people who need to believe in powerful groups whom control everything for they need that image to justify being wrong. They say if God did not exist, man would create one. They have been doing that since Babylonian times. The same takes place in markets.I guess