QE2 is like open-air PPT

http://www.zerohedge.com/article/art-cashin-ftw-qe2-beginning-look-open-air-multi-month-version-ppt

Since 1987, conspiracy theorists have maintained that the government operates a secret “plunge protection team” (PPT). Like most conspiracy theories, the PPT is hogwash and not much different from the guy who screams “the race was fixed” when his horse lost. I have listed the many reasons why the PPT is all smoke and mirrors over the years. So to save space, I won’t repeat.

That having been said, QE2 is beginning to look like an open-air multi-month version of the PPT. It looks like one of the primary assets the Fed wants to inflate is the stock market. That might produce a wealth effect as 401Ks heal and higher highs make the economy appear to be moving even as it plods along.

Art is a smart guy, but not all conspiracy theories are hogwash. See silver manipulation indictments against JPMorgan and HSBC. See silver prices explode upward now that the light is shone on the bullion banks.