The Fed probably spent all their $800 billion cash and treasury balance in exchange for subprime paper thus have run out of money to buy index futures. Have to fear, a fresh batch is being printed right now.
Your all missing my point: If the PPT really existed where are the actual dollar bills printed to prop the markets? It would take billions to absorb the losses and hold for rebounds. The Fed has to report every bill it prints and be accountable for it. There would have to be a money trail. Once again, this is just a brainwashing game manufactured by politicians herding you for harvest can you say SHEEP ! Your all being tricked into a false sense of security.
One theory is Goldman acts as a proxy for the Fed. Buying and Selling futures on the Fed's behalf and they earn a service fee. But you're right about the paper trail. Again, who knows. Would it be so hard to accept that the Fed may have some off balance sheet stuff?
The fact that PPT exist does not mean that they win all the time. They are there to protect or crash what they have targeted. You need to be on the floor to see how PPT works. You can have a morning with full of bad news and PPT send the mraket higher or a perfect day full of good news and having market lose %2.
From the figures I have seen they have spent approximately half of their 800 billion on their sub prime swapathon.
Goldman Slacks is the de facto federal reserve; they can act as the PPT or Boy Plunger, depending on whether they're short or long.