With all the political finger-pointing going on this election year, I feel the need to underscore that the current global financial crisis was “caused primarily by the greed of 1990 to present in the form of OTC derivatives.” OTC derivatives are bets on the directions assets will go as opposed to actually owning and selling them.
The computer explosion enabled Wall Street to become a gambling casino of such sophistication that even today the Fed cannot keep up with the money changers. What they did was not illegal, but it was immoral. Yet the temptation of instant huge wealth was as great as the greed on the streets for a free ride if government will provide it. Greed permeates Kali Yuga… rich and poor alike.
The OTC explosion happened before politicians had any idea of the problem. Politicians, democrats and republicans alike, and certainly the SEC (Securities and Exchange Commission) were simply blindsided. Politicians, and especially the SEC, who’s very purpose was such oversight, were asleep at the wheel.
Yes, subprime loans, going off the gold standard, allowing savings banks to speculate with investor’s money, union abuses, excessive enslavement through student loans, huge national debt, and excessive centralization of government are indeed contributing problems. However, OTC abuse exceeds them all. Putting it all together, there has been a perfect storm.
The financial health of a nation touches every individual much more than the average citizen seems to comprehend or even care about. There will be an economic phase transition. After the dust clears, there will be a wave of great global prosperity, which will come in with the tide of Sat Yuga. Our work is to do what we can to make the transition as smooth as possible. The best you can do for yourself is join in.
Opportunities such as this come once in a million years. Do not waste time.
Brilliant…
the clarity & care are appreciated truth~freedom…
Thank you Brahmarshi.
Jai Shiva Sankara
Powerful!
Sobering wake-up call…on a deeper level.
I don’t know what to do about any of this. I feel like the tar baby in the briarpatch.
Nina,
Not to worry! You are moving to Mount Soma. That is very good. Take care of the depth of life and the surface will take care of itself. That is not to say you can be oblivious on the surface. On the contrary, tend to the depth and your thinking and actions on the surface will be wise. Did you know that even Pandits from India has said that Mount Soma is the best place on earth for one to evolve. Studies have shown that even in the best of times strong communities are the safest places to live.
Even the banks are beginning to recognize that we have a strong micro economy here. Other communities are struggling as Mount Soma continues to thrive. This, I feel confident, will continue. For those who fear a situation of street violence comparable to what we see on the news from Greece, security here could be insured with one guard at the gate through Haywood mountain pass [but lets assume it will not come to that!]. However, many are predicting such a state of affairs.
Personally, I would suggest owning at least a little gold [physical gold in a safe deposit box and silver… bullion coins]. Also, build a house or at least buy a cottage here. It does not need to be your ‘dream home,’ just something in which you would be comfortable. Some are wisely building a cottage here to rent and to have for the future. We have, until the bank mortgage comes through, helped a number of people with financing as their cottages are built. Soon we will have to stop doing that since the banks seem so unstable. IF, and I mean IF, you have a cash flow to cover it, a mortgage at these low rates is a good thing. A huge wave of inflation as you have never seen before is on its way and you will be paying it off with pennies on the dollar. Note that I am not a financial planner. This is just my opinion.
Brahmarshi, thank you for your response. I can take care of the depths. The surface is a struggle.