Posted on 10/19/2013 7:15:42 AM PDT by IbJensen
Gus Delaporte reports for the Commercial Observer, Oct. 18, 2013, that Chinese conglomerate Fosun International has agreed to acquire JPMorgan’s former headquarters in Manhattan — the 60-story, 2.2 million square-foot One Chase Manhattan Plaza at 16-48 Liberty Street — for $725 million.
JPMorgan Chase & Co. had put the 60-story, 2.2 million-square-foot building up for sale in August.
Tyler Durden of ZeroHedge calls the &725 million price tag “measly” and notes that the iconic 1 Chase Manhattan had been built by none other David Rockefeller, and that Fosun International, also known as “Shanghai’s Hutchison Whampoa,” is China’s largest private-owned conglomerate which invests in commodities, properties and pharmaceuticals. More than that, 1 Chase Manhattan is also the building that houses JPMorgan’s commercial gold vault — reputed to be the largest in the world.
According to Bloomberg, Fosun International is owned by Chinese billionaireGuo Guangchang. Jane Zhang, a Shanghai-based spokeswoman for Fosun, declined to comment on how the company plans to use the building when contacted by Bloomberg News by phone.
The One Chase Manhattan Plaza deal is just the latest. Over the past year, other Chinese developers and wealthy investors have been buying real estate in the U.S., including:
◾Greenland Holdings Group, a Chinese state-owned developer, signed a preliminary deal last week to buy a majority stake in the Atlantic Yards project in Brooklyn. ◾Earlier this year, the family of Chinese developer Zhang Xin, co-founder of Soho China Ltd. (410), the biggest developer in Beijing’s central business district, acquired a 40% stake in New York’s General Motors Building in partnership with Brazilian banking billionaire Moise Safra, for approximately $1.4 billion.
◾In February 2013, China Vanke Co., China’s biggest homebuilder joined a residential real estate venture in San Francisco.
Now, emboldened with the Panama Canal deal, they have South America split off from CONUS. With a willing stooge in the White Hut they have become even more brave by inserting themselves into America's investment center. They will be ready when Obama's concept of America disintegrates on plan.
China's buying gold hand over fist to back their launch of a convertible yuan. JPMorgan has long been rumored to not have the gold they claim to have. I have to speculate this special discount deal connects those two datapoints somehow. Has JPM failed to make a delivery?
Interesting bit of tinfoil:
There’s crazy stuff going on in the PM world. It’s very hard to not give credence to even the wildest speculations. After all, who would believe that a bunch of super-banksters would take a secret train to a secret meeting to agree on a secret plan to set up an all powerful cartel to replace gold with paper? A-ha-ha! That’s crazy talk!
The 1 Chase Manhattan Plaza vault is just across the street from the NY US Fed gold vault and at the same depth. It is assumed the two are linked by a tunnel as in the past a lot of foreign national gold held in the Chase vault was booked or transferred to the US to settle debts before we went off the gold standard [our US once was a creditor nation, rather than debtor].
If the tunnel exists, China could demand payment of all the US debt it holds in gold and this transfer would occur without we citizens being the wiser. Of course, that would only occur if a disloyal weasel was in the White House so do not worry.
“They will be ready when Obama’s concept of America disintegrates on plan.”
Red China’s Mao Zedong reincarted as ObaMao Dingdong?
They both have that facial wart thing in common. Just sayin’.
The Chinese didn’t do a thing without the top executives of the legislature and the business worlds approval. America has had her legs spread wide for decades and she won’t close them until we clean out DC.
Oh great... that's just great...
The story goes that the oil countries would go along with the petrodollar as long as they also received “a little bit” of gold. Maybe the Chinese are getting a bigger deal to continue accepting Founder imprinted toilet paper. No evidence, but a lot of conspiracy theories.
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