"It Tells People: Don't Worry" - Saudi Stock Market Plunge Protection Team Exposed

The Journal pulls no punches in turning the conspiracy theory into conspiracy fact, noting that the government of Crown Prince Mohammed bin Salman has spent billions to counter selloffs 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.

Most notably, while 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.

https://www.zerohedge.com/news/2018-12-14/it-tells-people-dont-worry-saudi-plunge-protection-team-exposed