Monday, January 14, 2013
Rob Wile — The True Story Of The Time JP Morgan Saved America From Default By Using An Obscure Coin Loophole
Some fascinating history, which also demonstrates the bind of a gold standard. Nicely illustrated, too.
Business Insider
The True Story Of The Time JP Morgan Saved America From Default By Using An Obscure Coin Loophole
Rob Wile
(ht/ Roger Erickson via email)
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3 comments:
I seem to remember Walter Bagehot saying that the Bank of England did something similar on one or two occasions in the 1800s.
Could be that J. P. Morgan was aware of that, Ralph, perhaps through Rothschild.
JP Morgan saved the world, just like Hank the stank Paulson and Jamie Dimon with his shenannigans and Blankenfien does god's work, and the little old quaint man Warren Buffett didn't get a bail out and all he wants to do his play his yukelelee and pay taxes,
Right and I can sell you the Brooklyn Bridge. My only question is who is gonna save the world from the JP Morgans?
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