february memories / 6

NOTHING NEW UNDER THE SUN (ALMOST)

6th February, 1901 : J Pierpont Morgan, already one of the largest steel owners in America, yesterday pulled off the biggest business deal ever when he bought up a billion dollars worth of mines and steel mills. Never one for competition, preferring secret co-operation between supposedly competing corporations, Morgan now has a virtual monopoly of the steel industry.

[And today its the banking Industry.

The famous industry tycoons of the guilded age, such as the Rockefellers, Morgans  came upon a realisation; although there respective businesses were in Oil, Steel and Railroads, their businesses functioned similar to banks. The key to abnormal profits was monopolization of the banking industry and eventually the money supply…]

About Avadoro Worden

Iconoclast
This entry was posted in America, Capitalism, Corruption, Finance and Economics, History and tagged , , . Bookmark the permalink.

2 Responses to february memories / 6

  1. Mauser says:

    I often wondered if the people reading your “nothing new under the sun” are able to take a hint and make the connection with the present. Perhaps your comments will help. You can lead an ass to the water.. and it will piss all over you.

  2. LoL true, the problem I find is that people tend to over inflate certain historical facts (e.g. Jewish banker conspircay, New world Order) and not see it for what it is simply . A mafia racket to maintain monopolistic profits. This racket requires a constant New World Order, so to say.

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