J.P. Morgan's trust, the International Mercantile Marine, purchased the White Star Line in 1902 for roughly $32 million — equivalent to over $1.2 billion in today's money.
Where this was said
At 29:15 · chapter starts 26:00
Carter Roy pauses the conspiracy to build the necessary context: who exactly is J.P. Morgan? He's the man who created U.S. Steel — the first billion-dollar company in American history. He finances the expansion of the national railroad network. He personally orchestrates the rescue of the US banking system during the Panic of 1907, rallying his wealthy peers to shore up the banks and stabilise the New York Stock Exchange [1] — Carter Roy "Morgan didn't just dominate Wall Street — he personally bailed out the US government during the Panic of 1907. Understanding his obsession …" 28:10 . Morgan is motivated not by money — he's rich but not the richest — but by power and control. He sets out to dominate the cruise ship industry the same way, buying up smaller shipping lines until he purchases White Star for $32 million in 1902. His goal is monopoly. When Cunard launches the faster, more luxurious Mauretania and Lusitania in 1907, the White Star Line is in trouble, and Bruce Ismay must find a way to compete. The answer: build even bigger, even more luxurious ships. The Olympic and Titanic are conceived.
Morgan didn't just dominate Wall Street — he personally bailed out the US government during the Panic of 1907. Understanding his obsession with power, not just money, is key to understanding why the Titanic conspiracy theories centre on him.
In November 1910, six of America's most powerful financiers snuck onto a private island club in Georgia using only first names and a fake hunting trip as cover. What they hatched — the blueprint for the Federal Reserve — wouldn't become public knowledge for years.
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