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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jon Koplik who wrote (6322)	6/26/2002 6:35:07 AM
From: John Pitera	Read Replies (1) \| Respond to of 33421

I've also had as my quote on my profile page the past 2 years JP Morgan's famous quote of Prices will fluctuate. I believe he said that when he was in front of the Cujo Congressional commission back in 1911-12 .... The Pols were really working him over about the Panic of 1907 and considering that he was responsible for reversing the outflow of European gold which saved the US Government from insolvency in 1895 and then also single handedly stopped the horrible Panic in the Autumn 1907; The lead questioner... Untermeyer was overly dramatic in his questioning of Morgan. That was how the decision process to create the FED was put into motion. ...... It's a darn interesting story. I had a really neat 1888 book on the history of the Bank of England and it even listed all of the gentlemen who had been officers of it. John