7 votes

J.P. Morgan Bailed Out the U.S. Government?

Is this true? And if so, was 2008 some strange karmic act? Don't get it twisted, I'm an Austrian through and through. Just curious about this...

http://suite101.com/article/the-man-who-bailed-out-the-us-an...

Please Upvote if you find this interesting and wish to spur discussion of such a thing. Strange.

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J.P. Morgan bailed President

J.P. Morgan bailed President Cleveland out in 1895 because the U.S. Federal Treasury was almost out of gold (during the Panic of 1893). J.P. Morgan and the Rothschilds supplied the Federal Treasury with 3.5 million ounces of gold in exchange for a 30-year old bond being issued.

This saved the Treasury but hurt Cleveland. J.P. Morgan and the Wall Street bankers helped McKinley in 1896 and 1900.

Create the problem

and then offer a solution

Yes, he did, and I'm sure

Yes, he did, and I'm sure there were no strings attached either.