A Tribute to Benoit Mandelbrot

Cross-posted from the Worldwatch Institute’s Nourishing the Planet.

This past week the Fed and the Treasury via the “Working Group on Financial Markets,” struggled to hold the stock market up, along with the bond market and to continue to suppress gold and silver. The group was created in August 1988, under Executive Order 12631. It was later nicknamed the “Plunge Protection Team” by the Washington Post.

As investors the world over struggle to figure out how the banksters managed to confiscate half their money, and turn their banking systems and industry into extensions of the state, this overview serves to put it all in perspective.

The market is on the precipice, breaking through technical support, ready to crash. Kudlow is preaching the wisdom of owning gold (totally contrary to every fiber of his being). It’s a set-up.

The Bush Administration blowing the bailout.

Around the world:

At midday London time, the FTSE 100 index of leading British shares was down 328.03, or 7.6 percent, at 3,985.77, below the 4,000 mark earlier for the first time in five years. Germany’s DAX was 399.92, or 8.2 percent, at 4,487.08, and France’s CAC-40 was 254.03, or 7.4 percent lower at 3,188.67.

Trading has been suspended for various times in Austria, Russia, Iceland, Romania and Ukraine while Milan suspended share

An amateur look at the DJIA under our glorious leader.