History Abridged with Jack Rackam | Will Rockefeller Made $36 MILLION Out of Thin Air #Shorts @JackRackam | Uploaded April 2022 | Updated October 2024, 8 hours ago.
Here’s how millionaire William Rockefeller created $36 million dollars in cash out of thin air. First of all, he purchased a company called Anaconda Copper for $39 million dollars, but told the new owners not to cash the check. He then created a holding company called Amalgamated Copper. They then used Amalgamated Copper to buy Anaconda Copper from themselves using Amalgamated stock, and evaluated the purchase at $75 million dollars. Then he listed Amalgamated Copper on the stock market and sold $75 million dollars of stock, which he used to cover the initial purchase of Anaconda, meaning he paid for a $39 million dollar company with money he didn’t have, turned it into a $75 million dollar company without producing any additional value, and created $36 million dollars in cash out of thin air. So uh… capitalism? Capitalism.
Here’s how millionaire William Rockefeller created $36 million dollars in cash out of thin air. First of all, he purchased a company called Anaconda Copper for $39 million dollars, but told the new owners not to cash the check. He then created a holding company called Amalgamated Copper. They then used Amalgamated Copper to buy Anaconda Copper from themselves using Amalgamated stock, and evaluated the purchase at $75 million dollars. Then he listed Amalgamated Copper on the stock market and sold $75 million dollars of stock, which he used to cover the initial purchase of Anaconda, meaning he paid for a $39 million dollar company with money he didn’t have, turned it into a $75 million dollar company without producing any additional value, and created $36 million dollars in cash out of thin air. So uh… capitalism? Capitalism.
