Plunge Protection Team uses QE2 money to fatten the Christmas duck

December 24, 2010
By

According to Charles Biderman, as quoted by Zero Hedge, the government is using the funds from the latest round of quantitative easing buy stocks and inflate the market again, just in time for Christmas!

[I said "If] we can’t figure out who is doing the buying[,] it has to be the government, and people said I was nuts. Now the government is admitting it is rigging the market.”

As the Financial Times reports:

A powerful end-of-year stock market rally has sent equities to their highest levels since the collapse of Lehman Brothers more than two years ago, with hopes for the US recovery encouraging investors to pull billions of dollars out of bonds.

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