Historical Jekyll Island... and More Proof that JP Morgan *is* the Fed
Sorry to disappoint you, G. Edward Griffin, I know you worked hard to write Creature from Jekyll Island and I even recommend it as required reading for my "friends" from across the line. It's one of the absolute must read Fedbashing handbooks so I shouldn't have to recommend it to friends who claim to want to kill the Fed. Duh. Anyway, Jekyll Island is no longer what it once was. Though it's the place the Fed was hatched nearly a century ago, I've got the term on loan. Just know that. So where's my damn tennis court?
(don't look at me, it's Sunday, news is slow and I have shit to do, ok?)
A plan to convert a historic indoor tennis court into a temporary convention center gained a business partner this month.
Managers of the Jekyll Island Club Hotel will assume half or more of the $3 million cost to rehabilitate the Landmark Historic District's Morgan Tennis Building.
The governing Jekyll Island Authority plans to use the building and two additional large tents to host conventions during construction of its new convention center, which is expected to take two years. The hotel's owners will cover any unforeseen costs, ensuring the authority's share will be no more than $1.5 million.
Both the authority and Club Hotel officials are calling themselves winners in the deal.
"This is a very good example of a public-private partnership, which is something we've been doing ever since we came here," said Kevin Runner, general manager of the Club Hotel. "We hope and feel it will create a lot of interest."
Since the Fed is now in the real estate business (see also my October 22 The Fed's Real Life Zombie Movie), why don't they just buy the whole thing? It'll be totally sentimental. I'd love to cut them a check for a romantic week's vacation, rubbing myself down with crisp $20 bills in the same bed where JP Morgan plotted the birth of the dirty Fed.
Come on. It's history, not porn:
While the mainstream media is thoroughly distracted by what they term to be the “historic” and “unprecedented” events of the day – like the wild swings of the markets, the midnight deals worth billions, and the political circus that is Washington DC’s inherent ineptness – little attention is being paid to the well documented and eerily similar events of only 100 years ago.
Many of the corporate players were – not so surprisingly – the same as those who are at the center of our present “crisis.” Many of the same threats and socially extortive methods are being employed today to force public and legislative support for draconian changes to our free market system, and there is no shortage of lies and misinformation being propagated as truth.
After years and years of credible warnings that the lack risk abatement in lending and the over-abundance of inexpensive money of the Greenspan Era would lead to a financial disaster, the mainstream media finds itself running form fire to fire reporting the resulting damage while completely missing what is the real story: There are arsonists on the loose, and they are burning down our Nation’s financial house.
Ron Kirby notes: “I wrote about a very strange occurrence – the reporting of J.P. Morgan “transferring” 138 billion dollars to Lehman, after Lehman had already filed for Chapter 11 bankruptcy early last Monday morning…It is highly likely [or a certainty on my planet] that J.P. Morgan was INSOLVENT and was “BAILED OUT” last Monday, September 15, to the tune of 138 billion dollars. This would explain why the Fed and Treasury dictated that Lehman fail – to disguise or otherwise obfuscate the recapitalization of or illicit transfer of 138 billion to A MUCH SICKER, TEETERING ENTITY, J.P. Morgan Chase.”
The really funny part is that you're still taking it. Your parents took it. Your grandparents took it. My great-grandfather was born just before it but he took it for most of his life.
My kid has been to an End the Fed rally, that doesn't mean he won't have to take it for the remainder of his life as well. Just sayin.
There is no separation between regulator and regulated. One need not visit Jekyll Island and channel the ghost of Paul Warburg with a FRN rub-down to realize as much. But I hear it's nice this time of year.
The funny part is watching them pretend as if they aren't one in the same.