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"Gold Is Money And Nothing Else" - JP Morgan's Full December 1912 Testimony To Congress
In December 1912, no lessor man than J.P.Morgan testified to Congress to "justify Wall Street," during investigations over alleged manipulation and collusion. The transcript reads like it could have been given yesterday (as nothing ever changes) but at its heart the banker laid out 33 "Morgan Epigrams" which appear - in the ensuing 102 years - have been lost to greed and arrogance... The irony is wondrous: "Securities do not always prove good", "Money is gold, and nothing else", "I think manipulation is always bad."
J.P.Morgan's 33 Epigrams:
1. I have absolute faith in the patriotism and public spirit of the Stock Exchange.
2. The moral responsibility has to be defended as long as you live.
3. Securities do not always prove good.
4. It is difficult to get stockholders to take active interest in their companies.
5. I do not believe I could carry any question through any board against the views of the other directors.
5. I like a little competition, but I should rather have co-operation. Without actual control, you can do nothing.
6. I want to control nothing.
7. There is nothing in the world by which you can make a money trust.
8. I do not feel that I have vast power.
9. I do not think I have power in any department of industry; I am not seeking it, either.
10. All the money and all the banks in Christendom cannot control credit.
11. My firm is not run by me; I am not the final authority.
12. I believe in divided as against concentrated responsibility.
13. I do not compete for deposits.
14. I do not care whether they ever come, but they do come.
15. A bank, if it transacts its business right, will get its share of the business.
16. Nobody wants to put money into a new railroad in these times.
17. I always assist young men.
18. If it is good business for the interests of the country, I do it.
19. If I should attempt to tell where the money is in every transaction I make, I should have a hard time of it.
20. I did it because I thought it was the thing to do.
21. I should not allow a man to be associated with me that I thought was a fraud, simply because he owned a bank which at that moment was solvent.
22. Money is gold, and nothing else.
23. If a man had the credit, and I had the money, his customer would be badly off.
24. I have given a man a check for a million when I knew he had not a cent in the world.
25. The first thing is character, before money or property or any- thing else.
26. A man I do not trust could not get money from me on all the bonds in Christendom.
27. I never heard of a bank being controlled by anybody who gave it business.
28. The first thing is to get the business, and the next thing is the way you transact your business.
29. I think manipulation is always bad.
30. I never sold short in my life that I know of, but I do not see how you will get along without it. It is a principle of life, I think.
31. I would not favor legislation that would reduce the volume of speculation. You cannot prevent the public buying a thing that they think is low, or selling a thing that they think is high
32. You cannot in a bank in which you are a director, not in any first-class bank, at any rate, go and find out how much I have got in that bank.
33. You can get combinations that can control business, but you cannot control money.
* * *
Quite stunning! But as the transcript below shows, nothing ever changes!!
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a dumb ass like you confuses stones and sand.
JP; Justice of the Peace, JurisPrudence, Judas Priest , Jerk Pork.
They were pedophiles back then. They are pedophiles today. The best thing JP Morgan bankers can do is to jump. The more of them that jump the better it is for everyone. I'd like for some of them to jump when I'm in NYC over the holidays. I'll have my camera. If I'm lucky maybe I'll get a photo of one in mid air. Although, a photo taken after they hit on snow covered pavement may be more aesthetically appealing.
http://www.washingtontimes.com/news/2014/nov/21/lois-lerner-emails-may-h...
could be interesting
THIRTY THREE, huh ?
After the divorce I sold my wedding ring to one of those "we buy gold here" chain stores. The price was fair. This shop was located in a really nice part of town!; they have been out of business 2 years.
Goldies digging pretty deep there. Resurrecting the evil dead.
... ad for his epigrams ... he appears to be a complete lying ass. Except I believe him on the following:
17. I always assist young men. (out of their trousers)
What's funny is, every day since then they have been trying to make Gold not be Money and worthless, while trying to make his paper that isn't money appear to be Money and worth more. The sad thing is, he accomplished his goal. People will literally kill to get their hands on his dollar bills.That is the power of Propaganda.
He was no saint, but this statement shows why we are in trouble today as a country. Everything today is about 'me' or 'my friends' or 'my political party' - and not about 'country'. The old tycoons tried to set up monopolies, but ended up creating railroads, oil infrastructure, car manufacturing, etc. Today, the tycoons take American free money, but all the building and infrastructure is being done in Asia!
18. If it is good business for the interests of the country, I do it.
J. P. Morgan died Mar. 31, 1913 at age 76yo!
John D. Rockefeller died May 23, 1937 at age 97yo!
JD Rockefeller said upon JP Morgan's death that he thought of him being much moar wealthy, but as it turns out as Rockefeller coin'd the $$$s factors amongst his close associates... that, Morgan was a piker?
Federal Reserve Banking Act enacted Dec. 23, 1913 that Morgan celebrated to soon?!?
... as far as John D. Rockefeller long-lived life is concerned, he was deciding the axis powers in Europe in 1937 and how... once again, keeping the United States neutral for maximum gain supplying both sides!
Nice kinda guy?
Fact: There has been a total of ~200k tonnes of GOLD mined since the beginning of recorded tyme in the world today.
It is the size of a Tennis [78.0' lenght X 36.0 width] Court, with an overall depth of 30'.
jmo
i like to say that it all fits inside the
Eiffel tower (stage1)
There was a very entertaining movie from 1951 about that.
The Lavender Hill Mob
"One of Ealing's most successful comedies, "The Lavender Hill Mob" (1951) starred Alec Guinness as a bank clerk who hatches a plot to steal gold bullion and smuggle it out of the country disguised as Eiffel Tower paperweights."
http://cinema.wisc.edu/series/2014/fall/alec-guinness-centennial
who gives a flying rat's ass flying fuck what JPM said.... or any other banker
You don't buy gold for today, you buy it for tomorrow.
Do you really doubt that fiat 'money' will return to it's value of just paper?
Got any Continentals?
How about Greenbacks?
Silver Certificates?
Why do you think that FRN's won't join that list?
right...!
with all the printing full press having gold against inflations is good choice
Gold for the Zionists. Fiat for the Goy.
An American, not US subject.
Day by day another central banker comes forward to announce a monetary stimulation program designed to improve liquidity. Money is dispensed at the highest levels of the food chain affording temporary protection for the elites. After all they are the ones who can effect "improvement" to their respective economies. But it isn't working very well, in fact things are getting much worse. Economies are gobbling up their seed corn with their voracious appetite feeding on their working and middle class serfs. Selective stimulation will eventually result in negative acceleration of currency. Large US corporations have fed on free money to buy back their paper not to re-invest in productive enterprise. Apparently banks think this is OK.....NOT.
Meanwhile, central bankers are also using other stealth "tools" to squash gold to protect their important large asset holders, shamelessly gold is being walked back to worthless levels. Witness how paper gold gets sold down to provide cover each time another central bank decides to print. Stubborn bankers just won't quit until they absolutely crash the entire world economy.......again. The banks are very, very scared and are no longer thinking clearly, they are now in survival mode eating their young.
Stupid me, I forgot the central bankers are putting money in their favorite banks where they will soon be employed and well compensated as stick up artists.
Now I've vented but don't feel any better, what's the point.
I like a little competition, but I should rather have co-operation. Without actual control, you can do nothing.
That one should have been bolded. It says a lot.
Instead of merely talking, talking, talking about how gold is money, it's about time that we build the free gold standard ourselves! If we wait around for governments to change and "see the light" we will be waiting for a very, very, very long time.
https://goldstandard.io/2014/11/15/gold-standard-series-part-i-reviving-a-free-market-gold-standard-2/
Ben Bernanke "I dont understand gold prices" to Senate Banking Committee 2013.
Gold is money? How could the descendent of a famous pirate be wrong?
J.P. Morgan may have liked gold, but he liked the idea of a Federal Reserve even better...
http://www.globaldeflationnews.com/the-creature-from-jekyll-island-the-e...
Alan Greenspan, on the other hand, believed in Gold early in his life but later became its worst enemy. Why?
http://www.globaldeflationnews.com/what-caused-a-brilliant-young-economi...
Still, gold will rise, at least for a while...
http://www.globaldeflationnews.com/gold-elliott-waves-forecast-a-multi-m...
Nice mis-quote in the title, Tyler. JPM said Money is gold, and nothing else", not as you quoted, "Gold is money, and nothing else"
Cool, I'm going to send that pdf to all my creditors with a note saying, "Whoops, sorry can't pay you, I don't have any "money". /s
Watching the CB's trip over each other to accumulate physical is proof enough.