Reprinted from www.libertylobby.org, home of The SPOTLIGHT archive
Here's How Feds Manipulate Market
The trouble with the Clinton administration's deceptive -- and feloniously illegal -- scheme to jack up stocks and bonds with taxpayer's money is that "a market that has been rigged is no longer really a market; it's just another government trading post," as DeWitt Gould, who ran his own reporting service until his retirement last year, says.
"The original function of the stock and bond exchanges was to serve as the heart monitors, the independent gauges and arbiters of the national economy," he added. "Buying and selling a corporation's securities involved a judgment on its performance and creditworthiness. Cumulatively, the markets told us each day about how commerce and industry were doing around the country."
But the Clinton-era markets are like steam boilers with their safety valves wired shut, says business writer Rita Hauser, who covers Wall Street for Germany's largest news organization.
"We can sense the pressure rising, but we cannot relieve it until there's an explosion," she added. "Just take a look at the way the bureaucrats have meddled with the warning circuits of the New York Stock Exchange."
Introduced by the Clinton administration and known as "circuit breakers," the directives cited by Hauser are intended to mask the first signs of a market crisis by slowing and restricting trade along the following lines:
"In reality, of course, this is simply a scheme to give the government time to move in and bail out a sinking market," says Mrs Hauser. "It is the most crude and heedless attempt to juice up a fraudulent boom I've ever seen. It's bound to end in a shattering fall."