Ignoring U.S. government's market rigging, Wall Street Journal goes after Saudi Arabia's

Section:

Every month for many years GATA has delivered to The Wall Street Journal evidence of the U.S. government's surreptitious market manipulation. More evidence was delivered to the newspaper just yesterday:

http://gata.org/node/18685

The newspaper has refused to pursue the issue. But today, as noted below, the newspaper claims a triumph by exposing market manipulation by ... Saudi Arabia.

. . .

"Thou hypocrite! First cast the beam out of thine own eye; and then shalt thou see clearly to cast the mote out of thy brother's eye." -- Matthew 7:5

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Saudi Arabia Pumps Up Stock Market After Bad News, Including Khashoggi Murder

By Justin Scheck, Bradley Hope, and Summer Said
The Wall Street Journal
Friday, December 14, 2018

Saudi Arabia's government has been spending billions of dollars to quietly prop up its stock market and counter selloffs that have followed repeated political crises in recent months.

According to a Wall Street Journal analysis of trading data and interviews with multiple people with direct knowledge of government intervention efforts, the Saudi government has placed huge buy orders, often in the closing minutes of negative trading days, to boost the market.

... Dispatch continues below ...



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The Saudi stock market is a pillar of Crown Prince Mohammed bin Salman's plan to revamp his country's economy. Since he ascended to a top leadership position three years ago, the de-facto Saudi ruler and his deputies have faced a series of foreign-relations predicaments -- most recently the October murder of columnist Jamal Khashoggi -- that prompted investors to dump Saudi stocks.

The Saudi stock exchange normally discloses how much stock the government buys. The recent purchases after political crises have been concealed from public view. That is because the government, rather than buying stock directly, has routed its money through asset managers at Saudi financial institutions who run funds that don't need to reveal their clients, those people say. ...

... For the remainder of the report:

https://www.wsj.com/articles/saudi-arabia-pumps-up-stock-market-after-ba...

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