Clash of the Titans

According to Ron Chernow, biographer of the two pillars of the Gilded Age, J. P. Morgan sat down with John D. Rockefeller’s son to negotiate the sale of an asset. The monumental Morgan asked the young man the asking price, in retort the young man reminded Mr. Morgan of his place. Morgan wanted to buy, Rockefeller did not need to sell. Despite the financialization of the system that ensued post Gilded Age, commodities always trump equities. Then, now, and on Mars.