For some time on this blog we have been following the path of several financial institutions and the sovereign debt situation of various nations. A theme that to date we have not shared is some of the odd and unusual coincidences related to a particular financial institution - Citigroup.
As seen in the above picture, the address of 666 Fifth Avenue in New York City is prominently displayed on the Tishman building.
What we find puzzling is why a building owner would choose to prominently display an address that has such negative connotations?
In Biblical numerology the number 6 is considered the number of man since in the first chapter of the book of Genesis man was created on the sixth day. Three sixes together represent a trinity of man. This is considered a mockery of the Holy Trinity and is the number of the Antichrist.
In 2002 the prominent sixes were taken down, according to Wikipedia, and replaced with the CITI logo, as Citigroup is the main tenant of the building.
The story of this building gets stranger as we look at recent history. In 2006 the 41 story building built in 1957 reportedly sold for $1.8 billion to Kushner Properties (owned by Charles and his son Jared Kushner who is married to Ivanka Trump), the highest price ever paid for a building in Manhattan.
To give some perspective, the recently completed 160 story Burj Dubai is reported to cost $4.1 billion to build.
Why would anyone pay over $1,000 per square foot for a plain, ordinary, modest size building?
One explanation could be the building's location across from the John David Rockefeller center. Jerry Speyer of Tishman Speyer Properties, along with the Lester Crown family bought the Rockefeller center in 2000 from none other than Goldman Sachs and a syndicate of Gianni Agnelli, Stavros Niarchos, and David Rockefeller, at the same time they repurchased the Tishman building that the Tishman family owned from 1957 to 1989.
We are acquainted with David Rockefeller from his connection to a shadowy group know as Bilderberg.
An excerpt about David Rockefeller from Wikipedia:
In 2002 Rockefeller authored his autobiography “Memoirs” wherein, on page 405," Mr. Rockefeller writes: “For more than a century ideological extremists at either end of the political spectrum have seized upon well-publicized incidents such as my encounter with Castro to attack the Rockefeller family for the inordinate influence they claim we wield over American political and economic institutions. Some even believe we are part of a secret cabal working against the best interests of the United States, characterizing my family and me as "internationalists" and of conspiring with others around the world to build a more integrated global political and economic structure - one world, if you will. If that's the charge, I stand guilty, and I am proud of it."
Given Rockefeller's association with Fabian socialism (which tries to accomplish the socialist agenda by gradual rather than revolutionary means), it is not surprising he is a globalist involved with Bilderberg.
Another odd connection is this one from Crain's New York Business:
December 05, 2009 5:54 PM
Tishman Speyer defaults on big Chicago loan
Loan was one of several used by developer in $1.7 billion purchase of six Windy City towers in 2007; New York Federal Reserve taking a hard line
By Thomas A. Corfman, ChicagoBusiness.comIs it possible for Tishman Speyer to be in such great financial difficulty in Chicago on a $1.7 billion dollar purchase so soon after they made a $1.8 billion fortune on the sale of the Tishman building in 2006?
The largest real estate deal in Chicago history is turning into the biggest example of the grim plight of many properties in the city's downtown office market.
A venture led by New York-based Tishman Speyer Properties has defaulted on part of a package of loans used to finance the $1.72-billion purchase of six prime office towers in Chicago's Loop during the frenzied real estate market of 2007, sources familiar with the deal say.
The developer bought the 5.7-million-square-foot portfolio from Blackstone Group, which flipped them as part of the New York private-equity firm's $39-billion leveraged buyout earlier that year of Chicago-based Sam Zell's Equity Office Properties Trust.
The buildings, including such Loop landmarks as the Civic Opera Building and the 10 & 30 S. Wacker Drive complex, have lost much of their value amid the broad decline in the commercial real estate market.
Tishman Speyer, led by longtime developer Jerry Speyer, is in hard-nosed negotiations with officials of the Federal Reserve Bank of New York to rework an estimated $1.4 billion in loans. The Fed inherited the mortgages as part of the 2008 collapse and sale of Wall Street investment bank Bear Stearns Cos. With the talks at a stalemate, the Fed is taking an aggressive tack.
The portfolio, which also includes 161 N. Clark St., 30 N. LaSalle St. and 1 N. Franklin St., already illustrates several recent real estate trends in Chicago.
“Virtually all the assets bought between '05 and '07 cannot be refinanced today without a significant capital infusion,” says Shawn Mobley, executive vice-president at real estate firm Grubb & Ellis Co. “These buildings need to be recapitalized to get back in the business of being active real estate.”
Without a financial restructuring, the properties are likely to join a new trend—“zombie buildings,” which can't compete for new tenants because they lack the money to cover brokers' commissions and interior office reconstruction.
To summarize we have the following parties involved:
Tishman Speyer - Jerry Speyer
Gianni Agnelli, Stavros Niarchos
Lester Crown family
Perhaps these apparent connections are all unrelated, we don't know.
We simply find it strange that many of these parties were major players at the time of the near collapse of the economic system.
We are also troubled the Fabian socialism connection since, as Rahm Emmanuel recently stated, "You never let a serious crisis go to waste. And what I mean by that it's an opportunity to do things you think you could not do before. "
We feel America needs to be on guard, for there are those who do not believe in protecting personal liberty.