Discussion in 'Wall St. News' started by OnClose, Jan 13, 2013.
always find reads on Morgan interesting..
I was watching a documentary about that. People don't realize how heavy J.P. Morgan was during his time.
Yea. First big play was in coffee.. great speculator
Are JP Morgan still paying Tony Blair a million bucks a year ?
For HIS advice ?
Some say it was a posh outlet for CIA slush fund, for Blair to drag UK into yet another US war/disaster.
And BTW he has started a dealing desk in Mayfair London. Private for his own use though as yet.
Those 19th century robber barons make Buffett, Gates etc look like babes in arms.
We have all read REMINISCENCES OF A STOCK OPERATOR:
We're loaned up to the hilt," the banks protested.
"You've got your reserves," snapped J. P.
"But we're already below the legal limit," they howled
"Use them! That's what reserves are for!" And the banks
obeyed and invaded the reserves to the extent of about twenty
million dollars. It saved the stock market. The bank panic
didn't come until the following week. He was a man, J. P. Morgan
was. They don't come much bigger.
In that book he says something like: I was JP Morgan, if only for a day..
JP Morgan asks him to stop short selling for the good of the market and he obliges.
Just imagine if you will little Benny asking the market to stop shorting
EXACTLY. See recent posts in the "What about copper ?" thread in Metal Futures.
Benny actively thwarting the commodity shorts.
Unlike Capitalism, Globalization is Zero-sum.
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