As the World's Money Burns

I would love to not have to report on the continuing malaise of the US equity markets, but I have found it to be a labor of duty to report that our markets are incorrigibly rigged by some of the top officials of our government and the central bank, notably, Treasury Secretary Hank Paulson and Fed Chairman Ben Bernanke.

Most of the dirty work of rigging the markets - to the upside - is done every morning at the repo window of the NY Fed, where today they granted $31 Billion of repurchase agreements to members, all intended to be plied in the open equity markets to distort and deceive the general public.

It is my duty to report that the Dow Jones Industrials were down more than 125 points at 2:00 pm ET, yet once again, closed narrowly on the downside.

Dow 13,671.92 -3.33; NASDAQ 2,750.86 -23.90; S&P 500 1,514.40 -1.48; NYSE Composite 10,029.55 +20.25

The Dow is easy to manipulate if you have virtually unlimited funds, as does the Fed. It is only 30 stocks, and many of them don't trade more than 3 or 4 million shares per session. It's a piece of cake if you have the top traders of the major brokerage firms doing your bidding in the market. And it's tough to lose money, too, when you buy puts against the same stocks you are buying, knowing all along that buying these stocks with the sole intent to move up the averages is a losing condition.

Yet they carry on, these market manipulators, not because they have the best interest of investors at heart. No, they engage in this activity because they are protecting their own bankrupt souls and institutions from exposure and financial implosion. They could care less about depositors, investors and the ordinary folk. They care only about profits on their own banks and finance companies, their bonuses and their yachts and fancy cars.

Declining issues held a narrow 17-14 edge over advancers at the close. New lows outpace new highs again, 313-270.

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Oil gained an astounding $3.36 to close at $90.46. Gold gained $5.40 to $771.00. Silver was up 32 cents to $13.91. Why, why, why is the Dow only down THREE POINTS?

The housing industry is in the tank, credit markets have effectively seized up, roughly 25% of companies reporting earnings are missing their revenue and per share estimates and many are issuing pessimistic guidance for the 4th quarter and 2008.

Why is the Dow down only three points? The Fed, the PPT, the officially-sanctioned President's Working Group on Financial Markets are manipulating the markets. It's that simple.

Wake up, people. Your money, your investments, your retirements, your jobs and your homes are not safe as long as we allow nefarious characters such as Bernanke and Paulson to ply their evil trade.

NYSE Volume 4,133,543,000
NASDAQ Volume 2,755,434,750