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Patrick congratulations on getting sponsored by Financial Times!! This means you have officially achieved the highest quality of financial content on UA-cam 🎉 !!
Patrick has a great speaking voice. He speaks slowly and clearly so that his audience can easily digest the material. I have learned a lot from his videos.
It's a good marketing move from FT. They are partenring with youtubers because it is where the attention is. The money & macro podcast invited one of their editors, and they just talk about what a great publication it is.
I'm fortunate that you have chosen to give your time to us on UA-cam over the last few years. I enjoy the quality of your material, your perspective on it, and your dry sense of humour. Thank you.
Could never happen today. Just imagining contacting all the major UA-camrs and asking them to hold off on the click bait headlines for a week "for the common good".
The fact that the preservation of the entire banking sector required one guy locking a bunch of selfish idiots in a room until they did a deal is certainly very strong evidence for the necessity of a real central bank.
Canada didn't have the same problem with bank runs and panics as the US, and they had no central bank until the 1930s. The problem was two US banking regulations that kept the money supply in the US inelastic. The ban on branch banking and the requirement to hold government bonds to back any issued banknotes.
@@damag0r-451 Canada had an infamously flimsy banking system, until the 1923 Home Bank collapse triggered massive rewriting of their bank regulations. And an eventual creation of their central bank a decade later. That narrow window of lacking bank collapses and lacking a central bank is not enough to demonstrate anything.
Thank you Patrick for this. This is amongst my favourite type of content. As much as I thoroughly enjoy the geo-political videos, these videos structured around specific events and topics are some of the best. They help in placing so many pieces into a giant puzzle that we look upon as the global financial structure. Great job!
Morgan had surprisingly little personal wealth relative to his stature and influence. That’s because banking done PROPERLY is significantly less lucrative than booming industry such as steel and oil. This is why bankers have been frantically fighting regulations, because banking done *wrong* can be ridiculously lucrative -see the 2008 subprime crisis. Rockefeller upon learning JP Morgan’s net worth at his death exclaimed “And to think… I thought he was a rich man!!”
I thought that manufacturing companies had discovered decades ago that financial operations are more profitable than "making things". Wasn't it GE, or P&G that realized their financial division was making more than their productive divisions in the mid 90's?
Too bad their wealth was not reversed. Morgan seemed to have common sense and a humanitarian bent, while Rockefeller was determined to undermine US citizens in favor of a one-world government which he and his heirs would control. Rockefeller sponsored Kissinger, the WEF, Klause Schab and launched the career of Bill Gates, who is now doing Rockefeller's foundations bidding. Fock Rockefeller.
@@danielclawson2099You are correct. Kineahora is most likely one of these people that thinks banks should be your friend and lend you money at 1% no matter your credit background
The relative revenue, profit, and power of the US banking system today is largely the result of the financialization of the US economy over the last 40-50 years. It is enabled by the large US deficit, which is in turn enabled by the US dollar being the global reserve and trade currency (Bretton Woods, etc.).
Note: The State Savings Bank of Butte Montana building displayed at 18:41 still stands today. The adjacent buildings in the picture also still exist. 8 W. Park St., Butte, Montana It looks almost exactly the same other than it appears to be a multi-purpose commercial building now. Thank you for all you do for us Patrick. I never miss a video post on your channel. Always learning something new.
Congratulations on landing an association with the Financial Times...long time viewers like myself have always appreciated your insight and style, and am happy to see it being more broadly recognised as well. Congratulations again!
He also caused it, but that part seems to get left out a lot. It was HIS trading house which both enabled and cut funding for the Knickerbocker Trust. The U.S. gov kept him going back to court over and over 'til he passed because they couldn't touch him. See: Pujo Committee
One has to think J.P Morgan would be pleased to know that over 100 years later the bank that still bears his name is the largest in the United States, one of the largest in the world and the US government has tasked its CEO Jamie Dimon with basically coordinating, cleaning up and consolidating power during the 2 most recent major banking failures.
2 times in 100 years... quality corporation. It survived anti-trust laws compared to AT&T and its BabyBell (AT&T, Verizon, Bell Canada, Century Link, SoftBank Japan, Nortel, WesternUnion etc..) who are still around and strong but a shadow of their former self losing territory year after year
Except JPM is often among the very banks which cause the financial crises; the only difference now is the federal government is now directing them and others to fix it in exchange for bailouts. Which, sadly, isn’t a very stable solution at all.
Patrick's most poplar video has 1.4m views (IMO that is criminally low). This video should dwarf that viewership. Patrick if this video doesn't blow up - please don't take that as a message to ever stop these absolutely beautiful videos Truly amazing. I watched it more than once to absorbe the info
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He also helped cause the panic, but that part seems to get left out a lot. It was HIS clearing house which both enabled the funding of and then convinced others to pull funding for the Knickerbocker Trust and other overleveraged interests. The U.S. gov later kept J.P. going to court over and over 'til he passed because they couldn't touch him. See: Pujo Committee _"The report identified over $22 billion in resources and capitalization controlled through 341 directorships held in 112 corporations by members of the empire headed by J. P. Morgan."_ That's $680 billion in 2023 dollars; it was like he owned two of Apple Corporation. J.P. Morgan was beyond wealthy, and he didn't make much of that money fairly.
In today's day, the only banker that even holds something close to JP Morgan's influence and power is, ironically or unironically, Jamie Dimon, the man who runs JP Morgan Chase
Fast forward JP Morgan is still co-owner of the federal reserve and increased the US deficit to $32.8 trillion dollars... 😂😅 China and Japan was the one that saved US economy during 2008 crashed by using Japan invented QE that all the major economy since then has been adopted from Japan.
I have an old American Heritage at home that has an article titled "A Lion in the Street" describing Morgan's role in bringing all of this to a successful conclusion. It is from the late 1950's, I believe. I'll make a note to post the issue number when I get home.
Glad everyone in comments agree: these historical financial essays are top tier. Peak UA-cam content. You really are incredible at this video making thing! Dude is out here making banger after banger, making it look easy; showing everyone else up 😂 In all seriousness tho, I really appreciate these videos and the inevitable Herculean effort you must put into them!
In 1873, there was an omission of the standard silver dollar from the coinage law passed by congress. It put an undue burden on using gold, gradually moving from a bimetallic system placing a monetary strain on a gold standard. This lead up to the panic which was used as an excuse for a central bank (Federal Reserve). The act of 1873 also made a change in the charge for seigniorage. Good video, thank you for all the hard work that went into producing this video.
That is so interesting im listening to it again. I was dimly aware of this story, but you really bring it to life, and give it dimension. Thanks for this presentation Patrick. It is excellent!
Interesting to see Morgan cast as the hero of the piece. In labour history he tends to be a minor antagonist. Of course, financiers and the working class have very different perspectives.
My favorite moment: locking trust bankers in the room until there's an agreement to avoid catastrophe. I'd love to know if there is an equivalent event elsewhere in the world
Hey Patrick. A bloody exceptional video. Congratulations on your excellent (as always) work… Easily the most comprehensively researched Chanel on history and finance and more… Always learning new information from your videos… Cheers Andrew Wickham
I can highly recommend Roger Lowenstein's book America's Bank, which covers the 1907 Panic and the creation of the Federal Reserve. Great to see Patrick reference it in the description.
I listened to the book The Panic of 1907 by Bruner and Carr on Audible a few weeks ago and your video is an excellent shorter version of the story. That was a genuine complement. You seem to me to get in all the salient points within a limited time frame, which is quite a skill.
What a fantastic video. Well structured, very easy to understand and detailed enough to get (what I assume is) the full picture. Thanks you for creating this :)
Thanks I always like these kind of videos. Your crash of 87 video is the one that got me interested in the channel. I do like when you poke fun of musk and co too 😊
Enjoyed your presentation. Surprised you didn’t mention the only lady in the room with all the bankers. I understand that none other than Hetty Green was also present!
Gods in Heaven, Sir! You have an excellent voice and demeanor to present financial history in a way that is both captivating and exciting! (I mean it; I was practically on the edge of my seat, trying to hold all the strings of this pivotal crisis.) Thank you most kindly. Subscribed. So this is one of the reasons for the formation of the Fed. It's horrible how a simple act of self-interest plus miscalculation can lead to almost ripping out the beating heart of an entire nation's economy. (That and a couple spanks from Mother Nature.) I'll try and get the recommended books soon!
The Financial Times: Breaking the backs of newspaper delivery boys all over the UK in the 1980s. I used to get up at 4 AM every morning as a nine-year-old and deliver about 50 of those newspapers to the local doctors and attorneys offices. At that point, each one weighed about a pound 😂
It could also be that he was called Jupiter because he had a jovial character. Jupiter, the largest planet, was named for the king of the Roman gods. Jove is a form of Jupiter. A person born under the planet Jupiter, therefore, was believed to be jovial-cheerful and friendly. This may be perplexing if you think of Jove mostly as a thunder-god, as his Greek equivalent Zeus is often portrayed. But if Mars is ascendant in times of war, Jove is the god who rules when the the work of Mars is done, when peace and prosperity, feasting and gladness prevail. In his poem “The Planets,” C.S. Lewis describes the reign of Jove in a way that makes it clear why joviality is associated with merriment and good humor: Of wrath ended And woes mended, of winter passed And guilt forgiven, and good fortune Jove is master; and of jocund revel, Laughter of ladies. The lion-hearted, The myriad-minded, men like the gods, Helps and heroes, helms of nations Just and gentle, are Jove’s children, Work his wonders. On his white forehead Calm and kingly, no care darkens Nor wrath wrinkles: but righteous power And leisure and largess their loose splendours Have wrapped around him - a rich mantle Of ease and empire.
I really appreciate educational history. This was amazing and once again well put together. Even for a dumdum like me I was able to follow along and learn something new today 🎉
Hi Patrick, will you be doing any more content regarding the current problems in china? Lots of videos are popping up lately from the usual talking heads and I'd like to know if there is really more to it this time. Keep up the good work.
Times sure have changed. Imagine anyone today calling the heads of the ten largest banks to meet in your New York office that same day, and they all showed up on time. Men of power in the early 1900's could accomplish more in a few days than could happen in months or years now.
That powerful role was taken over by the Fed and Treasury. In 2008 the 9 largest banks CEOs met at a table with the head of the Treasury and were not allowed to leave until they signed a one-page deal that said their banks would be bailed out via special loans. The plan worked and the bailout was paid back with a profit years later
10 seconds in, I agree. You hear talk of market downturns waay before they happen and I think it's because investors start acting like a downturn is happening therefore a downturn starts "manifesting".
Get one month of complete digital access to the Financial Times for $1 by clicking here: subs.ft.com/patrick_boyle?segmentId=940e2eaa-14f4-65ea-912e-68559407acfb
Interesting, so world war one was caused by the financial effects of the San Francisco Earthquake.
😂😢😢😮🎉
Informative video, except Patrick refers to "England" The country is the United Kingdom.
The federal reserve is not a government bank, it is a private bank owned by a powerful banking family.
@@douglasmiller4351 May I ask what is wrong with using "England"?
Patrick congratulations on getting sponsored by Financial Times!! This means you have officially achieved the highest quality of financial content on UA-cam 🎉 !!
Next step in the UA-cam sponsorship hierarchy... being sponsored by Morgan & Morgan.
Reuters still clear 😉
That has to be a sarcasm…nothing more than a Globalist mouthpiece the Financial Times..more of a sell out I would say.
raid shadow legends
It also means that he join the main stream media propaganda.
These history focused episodes are so well researched. Top-tier content.
So so so nice to listen to.
Patrick has a great speaking voice. He speaks slowly and clearly so that his audience can easily digest the material. I have learned a lot from his videos.
Is anyone else proud of Patrick for getting FT backing? I've never seen them advertised on UA-cam before, this seems kinda special
Definitely impressive. I'm guessing that he must have known someone who works at/with FT (he does live in London after all).
@@BloodRider1914or he just makes great content. That’s most likely
It's a good marketing move from FT. They are partenring with youtubers because it is where the attention is. The money & macro podcast invited one of their editors, and they just talk about what a great publication it is.
@@bobs8005 why “more likely”. Most likely is both. Reason 2 is a pre rec, reason 1 is how you actually make it happen.
I'm fortunate that you have chosen to give your time to us on UA-cam over the last few years. I enjoy the quality of your material, your perspective on it, and your dry sense of humour. Thank you.
Could never happen today. Just imagining contacting all the major UA-camrs and asking them to hold off on the click bait headlines for a week "for the common good".
lmaooo
Indeed my friend, indeed. :)
Or just forcing UA-cam
Very similar things happened during the 2008 crisis.
The fact that the preservation of the entire banking sector required one guy locking a bunch of selfish idiots in a room until they did a deal is certainly very strong evidence for the necessity of a real central bank.
Aaaaaaand then the same thing happened again in 2008 in the US and the UK, despite those nations having central banks. Guess we never learn.
@@CJBroonie What? That's not what happened in 2008 at all.
@@CJBroonie How is this even remotely related to what happened in 2008?
Canada didn't have the same problem with bank runs and panics as the US, and they had no central bank until the 1930s. The problem was two US banking regulations that kept the money supply in the US inelastic. The ban on branch banking and the requirement to hold government bonds to back any issued banknotes.
@@damag0r-451 Canada had an infamously flimsy banking system, until the 1923 Home Bank collapse triggered massive rewriting of their bank regulations. And an eventual creation of their central bank a decade later.
That narrow window of lacking bank collapses and lacking a central bank is not enough to demonstrate anything.
Thank you Patrick for this. This is amongst my favourite type of content. As much as I thoroughly enjoy the geo-political videos, these videos structured around specific events and topics are some of the best. They help in placing so many pieces into a giant puzzle that we look upon as the global financial structure.
Great job!
A 45 minute Patrick banger???? During CFA season??? The stars are not aligned 😅
Ahahaha😂
😂😂😂😂😂😂😂
Financial times has deep pockets
CFA is a scam
Morgan had surprisingly little personal wealth relative to his stature and influence. That’s because banking done PROPERLY is significantly less lucrative than booming industry such as steel and oil. This is why bankers have been frantically fighting regulations, because banking done *wrong* can be ridiculously lucrative -see the 2008 subprime crisis.
Rockefeller upon learning JP Morgan’s net worth at his death exclaimed “And to think… I thought he was a rich man!!”
I thought that manufacturing companies had discovered decades ago that financial operations are more profitable than "making things". Wasn't it GE, or P&G that realized their financial division was making more than their productive divisions in the mid 90's?
Too bad their wealth was not reversed. Morgan seemed to have common sense and a humanitarian bent, while Rockefeller was determined to undermine US citizens in favor of a one-world government which he and his heirs would control. Rockefeller sponsored Kissinger, the WEF, Klause Schab and launched the career of Bill Gates, who is now doing Rockefeller's foundations bidding. Fock Rockefeller.
@@danielclawson2099You are correct. Kineahora is most likely one of these people that thinks banks should be your friend and lend you money at 1% no matter your credit background
Small correction, it was Andrew Carnagie who exclaimed that quote.
The relative revenue, profit, and power of the US banking system today is largely the result of the financialization of the US economy over the last 40-50 years. It is enabled by the large US deficit, which is in turn enabled by the US dollar being the global reserve and trade currency (Bretton Woods, etc.).
Note: The State Savings Bank of Butte Montana building displayed at 18:41 still stands today. The adjacent buildings in the picture also still exist.
8 W. Park St., Butte, Montana
It looks almost exactly the same other than it appears to be a multi-purpose commercial building now.
Thank you for all you do for us Patrick. I never miss a video post on your channel. Always learning something new.
Congratulations on landing an association with the Financial Times...long time viewers like myself have always appreciated your insight and style, and am happy to see it being more broadly recognised as well. Congratulations again!
There once was a man named JP, / Who saved the economy with glee. / He stopped a crash, / With a financial splash, / And became a legend in histree.
😂 loved this but still hate JP
@@aangitano I find them fun to create, glad you liked it
He also caused it, but that part seems to get left out a lot. It was HIS trading house which both enabled and cut funding for the Knickerbocker Trust.
The U.S. gov kept him going back to court over and over 'til he passed because they couldn't touch him. See: Pujo Committee
@@maht0x you're really good! 😀 Too bad I can't follow a commenter to see all the rhymes you post! 🎵
@@aangitano i'll let you into a secret, i use perplexity ai to help me. it doesn't do all the work, it's fun to create with the set-up
Great video history !
I really enjoyed listening to a rather unknown but evidently significant boom and bust 20 years before the famous 1929 crash.
"Vindictive savagery towards corporation." Damn, I like the sound of that.
Congrats on the Sponsor Patrick, keep up the good work!
One has to think J.P Morgan would be pleased to know that over 100 years later the bank that still bears his name is the largest in the United States, one of the largest in the world and the US government has tasked its CEO Jamie Dimon with basically coordinating, cleaning up and consolidating power during the 2 most recent major banking failures.
2 times in 100 years... quality corporation. It survived anti-trust laws compared to AT&T and its BabyBell (AT&T, Verizon, Bell Canada, Century Link, SoftBank Japan, Nortel, WesternUnion etc..) who are still around and strong but a shadow of their former self losing territory year after year
Jamie criminal
Except JPM is often among the very banks which cause the financial crises; the only difference now is the federal government is now directing them and others to fix it in exchange for bailouts. Which, sadly, isn’t a very stable solution at all.
@@CJBroonieJPM did not need a bailout in 2008, they also wernt the cause
JD is a slime ball like Jack Welsh who moved capitalism to making some of the few remnants of democracy to a failed state.
Wonderful! No fiction writing can be more exciting then real history, Well done.
Patrick's most poplar video has 1.4m views (IMO that is criminally low). This video should dwarf that viewership.
Patrick if this video doesn't blow up - please don't take that as a message to ever stop these absolutely beautiful videos
Truly amazing. I watched it more than once to absorbe the info
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He also helped cause the panic, but that part seems to get left out a lot. It was HIS clearing house which both enabled the funding of and then convinced others to pull funding for the Knickerbocker Trust and other overleveraged interests. The U.S. gov later kept J.P. going to court over and over 'til he passed because they couldn't touch him. See: Pujo Committee
_"The report identified over $22 billion in resources and capitalization controlled through 341 directorships held in 112 corporations by members of the empire headed by J. P. Morgan."_
That's $680 billion in 2023 dollars; it was like he owned two of Apple Corporation. J.P. Morgan was beyond wealthy, and he didn't make much of that money fairly.
In today's day, the only banker that even holds something close to JP Morgan's influence and power is, ironically or unironically, Jamie Dimon, the man who runs JP Morgan Chase
Good Lord, not that one! He should be in politics, not financing.
No one does cause it's personal benefits now
@@fairplayer7435duh 🙄😮💨
Jamie Dimon is the reason I bought J.P. Morgan stock. I don’t plan to sell when he retires but it will be sad
Fast forward over a century later and JP Morgan is still saving the US Economy.
Not just a century, just a decade later they fueled WW1 & WW2, which guaranteed an american empire and the destruction of europe
😂😂😂😂😂
Fast forward JP Morgan is still co-owner of the federal reserve and increased the US deficit to $32.8 trillion dollars... 😂😅
China and Japan was the one that saved US economy during 2008 crashed by using Japan invented QE that all the major economy since then has been adopted from Japan.
Good one 😅
Haha😂👍
Damn! i just watched a 43 minutes video and felt like a 5 minutes videos. Excellent content as always!
I love this historical content. So detailed! It’s clear how much effort you put into your videos. Well done ❤
I have an old American Heritage at home that has an article titled "A Lion in the Street" describing Morgan's role in bringing all of this to a successful conclusion. It is from the late 1950's, I believe. I'll make a note to post the issue number when I get home.
Go home!
Are you home yet?
Home yet?
Are you home yet?
Post the issue god dammit you
Glad everyone in comments agree: these historical financial essays are top tier. Peak UA-cam content. You really are incredible at this video making thing!
Dude is out here making banger after banger, making it look easy; showing everyone else up 😂
In all seriousness tho, I really appreciate these videos and the inevitable Herculean effort you must put into them!
Incredible storytelling.
And it's just that, a story. Leaving out the part where J.P. Morgan set up the panic via his own clearinghouse.
This was great, love to see a good finance story so beautifully packaged for us laypeople to follow along with.
Getting sponsored by the FT is the quintessential badge of honor!! Keep up the good work!
This channel has a good mix of content and i hope it stays that way.
But it is videos like this that make it stand out.
In 1873, there was an omission of the standard silver dollar from the coinage law passed by congress. It put an undue burden on using gold, gradually moving from a bimetallic system placing a monetary strain on a gold standard. This lead up to the panic which was used as an excuse for a central bank (Federal Reserve). The act of 1873 also made a change in the charge for seigniorage. Good video, thank you for all the hard work that went into producing this video.
You have a fantastic voice for storytelling, my friend! This was a very interesting topic!
Thank you for posting. I love history, especially finance.
Ft is the best paper buy far. It gives you the actual information and is light on spin.
Oh, how interesting, since they left out the part where J.P. Morgan helped cause the panic via his own clearinghouse.
@@Mavendow Can you link me to any articles?
That is so interesting im listening to it again. I was dimly aware of this story, but you really bring it to life, and give it dimension.
Thanks for this presentation Patrick. It is excellent!
Well done Patrick. Entertaining and informative!
Interesting to see Morgan cast as the hero of the piece. In labour history he tends to be a minor antagonist. Of course, financiers and the working class have very different perspectives.
My favorite moment: locking trust bankers in the room until there's an agreement to avoid catastrophe. I'd love to know if there is an equivalent event elsewhere in the world
It happened again in 2008.
Hey Patrick. A bloody exceptional video. Congratulations on your excellent (as always) work… Easily the most comprehensively researched Chanel on history and finance and more… Always learning new information from your videos…
Cheers
Andrew Wickham
I can highly recommend Roger Lowenstein's book America's Bank, which covers the 1907 Panic and the creation of the Federal Reserve. Great to see Patrick reference it in the description.
Wow. Your videos have manage to continue getting better and better! Great work and great story!
Wonderful video Patrick. I always enjoy the history. Fabulous job. Thanks.
I listened to the book The Panic of 1907 by Bruner and Carr on Audible a few weeks ago and your video is an excellent shorter version of the story. That was a genuine complement. You seem to me to get in all the salient points within a limited time frame, which is quite a skill.
What a fantastic video. Well structured, very easy to understand and detailed enough to get (what I assume is) the full picture. Thanks you for creating this :)
Educational and entertaining, a very fast 43 min. I wonder what Morgan would have thought of wood nymphs, 420 memes, and monkey art.
Thanks I always like these kind of videos. Your crash of 87 video is the one that got me interested in the channel. I do like when you poke fun of musk and co too 😊
I love your financial history videos - thanks Patrick!!
Absolutely excellent episode. Thank you. This channel is my favorite.
Great content, as always Patrick!!
An absolutely fantastic vlog!! Loved every minute of it!!
Knickerbocker is a funny word
The best so far. Thank you.
Absolutely thrilling Patrick!
Epic Video, nicely done, as ever ;-)
Thank you. I had the basics but you clarified some important points.
Enjoyed your presentation. Surprised you didn’t mention the only lady in the room with all the bankers. I understand that none other than Hetty Green was also present!
Your presentations are always entertaining and education; good job!
Patrick is a gifted presenter. This subject is well outside my usual scope of interest, yet he makes it fascinating. Thank you Patrick.
stellar stuff, thanks for all you do to educate!
Move over Coffeezilla! Patrick Boyle is now the #1 finance UA-cam channel!
Hahaha. Thanks!
Well told. I particularly like the book tips at the end. Many thanks.
Brilliant. Just, brilliant production of this video.
Good stuff Patrick, thankyou.
Wins are privatized
Losses are subsidized by taxpayers
This video is excellent, thanks Patrick
Congrats on getting sponsored by the FT, this is a huge marker of your channel's credibility.
Gods in Heaven, Sir! You have an excellent voice and demeanor to present financial history in a way that is both captivating and exciting! (I mean it; I was practically on the edge of my seat, trying to hold all the strings of this pivotal crisis.) Thank you most kindly. Subscribed.
So this is one of the reasons for the formation of the Fed. It's horrible how a simple act of self-interest plus miscalculation can lead to almost ripping out the beating heart of an entire nation's economy. (That and a couple spanks from Mother Nature.) I'll try and get the recommended books soon!
Top Quality financial content, We need more like this 👏
Excellent video. Thanks.
Excellent video, as always.
JP Morgan, best front man ever
Great video. Thanks!
Bro dropped a 45 minute banger out of nowhere
felt like 10 mins... was great!
The Financial Times: Breaking the backs of newspaper delivery boys all over the UK in the 1980s. I used to get up at 4 AM every morning as a nine-year-old and deliver about 50 of those newspapers to the local doctors and attorneys offices. At that point, each one weighed about a pound 😂
Thanks again Patrick for your great history on US development 18 and 1900s
As always, a world class, educational and informative episode of financial history. Thank you.
Thank you
It could also be that he was called Jupiter because he had a jovial character.
Jupiter, the largest planet, was named for the king of the Roman gods. Jove is a form of Jupiter. A person born under the planet Jupiter, therefore, was believed to be jovial-cheerful and friendly. This may be perplexing if you think of Jove mostly as a thunder-god, as his Greek equivalent Zeus is often portrayed. But if Mars is ascendant in times of war, Jove is the god who rules when the the work of Mars is done, when peace and prosperity, feasting and gladness prevail.
In his poem “The Planets,” C.S. Lewis describes the reign of Jove in a way that makes it clear why joviality is associated with merriment and good humor:
Of wrath ended
And woes mended, of winter passed
And guilt forgiven, and good fortune
Jove is master; and of jocund revel,
Laughter of ladies. The lion-hearted,
The myriad-minded, men like the gods,
Helps and heroes, helms of nations
Just and gentle, are Jove’s children,
Work his wonders. On his white forehead
Calm and kingly, no care darkens
Nor wrath wrinkles: but righteous power
And leisure and largess their loose splendours
Have wrapped around him - a rich mantle
Of ease and empire.
Kind of look look santa clause in a top hat tho! =)
I like this non-Robber Baron series, thanks, Carnegie is my favourite! When I was a tennager, I had cherished books on these 19th century titans!
I love these historical videos. I often come back to watch
Wonderfully clear
One of of your best works so far (yes, I do believe I saw them all). Congrats on the new sponser.
I really appreciate educational history. This was amazing and once again well put together. Even for a dumdum like me I was able to follow along and learn something new today 🎉
😍😍 caught a premiere!!
Congrats! Here have a cookie 🍪
Thank you J.P.
Patrick thank you for your work
Hi Patrick, will you be doing any more content regarding the current problems in china? Lots of videos are popping up lately from the usual talking heads and I'd like to know if there is really more to it this time.
Keep up the good work.
Times sure have changed. Imagine anyone today calling the heads of the ten largest banks to meet in your New York office that same day, and they all showed up on time. Men of power in the early 1900's could accomplish more in a few days than could happen in months or years now.
That powerful role was taken over by the Fed and Treasury. In 2008 the 9 largest banks CEOs met at a table with the head of the Treasury and were not allowed to leave until they signed a one-page deal that said their banks would be bailed out via special loans. The plan worked and the bailout was paid back with a profit years later
Imagine if a nation of people had that wealth and power? Oh, wait, it only needs to be concentrated amongst the few for the good of many.
@@ccc3 And everyone lived happily ever after. Not the people who had mortgages, ofc, but nobody cares about them. Only rich people matter.
Nothing has ever sounded more "1900s finance" than the name Knickerbocker Trust lol
10 seconds in, I agree. You hear talk of market downturns waay before they happen and I think it's because investors start acting like a downturn is happening therefore a downturn starts "manifesting".
Great video Pat!
This isn't the first time JP. Morgan has done this. Last time it played the same role during 08 financial crisis.
Very will done
Great video Patrick! I had Really nice commute to the city this am :)
Utterly superb.
Thank you again. Always interesting and educational.
That was really good. Thanks
That was informative content. Thankyou Patrick.
Thoroughly researched and beautifully explained. Thanks for making this video.