A decade after the collapse of Lehman Brothers, the world is still debating the causes of the financial crisis—down to the meaning of money itself.
In buttoned-down Switzerland, that debate is taking the form of a nationwide referendum set for June 10. Voters are being asked to consider fundamental questions rooted in the crisis: what is money; who creates it; and how safe is it? And they’ll have a chance to blow up one of the foundational features of global finance: the ability of banks to create money with just a few keystrokes.
That’s right, if a bank gives you a loan, it can pretty much create the money on the spot. It’s something that banks do every day around the world. It means that all money isn’t created equally, and the cash that pops out of an ATM machine isn’t the same as the numbers on a bank statement.
But if the Swiss referendum passes, all money creation there would have to be done directly by the country’s central bank.
Taurus represents all that is solid in our world – tangible, earthbound, things that we can touch. Along those lines, it governs personal possessions and the accumulation of wealth and financial security. As Uranus travels through Taurus, these ideas are likely to be disrupted and paradigms shifted.
The global financial system is pretty much based on ideas and trust, and this of course leads to financial collapse from time to time. In my house, I rarely see actual money changing hands. Income is automatically deposited into […]
Astrologer Richard Nolle posted a link to on Facebook:
At the very moment of its ultimate triumph, capitalism will experience the most exquisite of deaths.
This is the belief of political adviser and author , who argues the current economic system has become so successful at lowering the costs of production that it has created the very conditions for the destruction of the traditional vertically integrated corporation.
Rifkin, who has advised the European Commission, the European Parliament and heads of state, including German chancellor Angela Merkel, says:
No one in their wildest imagination, including economists and business people, ever imagined the possibility of a technology revolution so extreme in its productivity that it could actually reduce marginal costs to near zero, making products nearly free, abundant and absolutely no longer subject to market forces.
With many manufacturing companies surviving only on razor thin margins, they will buckle under competition from small operators with virtually no fixed costs.
“We are seeing the final triumph of capitalism followed by its exit off the world stage and the entrance of the collaborative commons,” Rifkin predicts.
The creation of the collaborative commons
From the ashes of the current economic system, he believes, will emerge a radical new model powered by the extraordinary pace of innovation in energy, communication and transport.
“This is the first new economic system since the advent of capitalism and socialism in the early 19th century so it’s a remarkable historical event and it’s going to transform our way of life fundamentally over the coming years,” Rifkin says. “It already is; we just haven’t framed it.”
Some sectors, such as music and media, have already been disrupted as a result of the internet’s ability to […]
The other day I wrote about the push and pull between the expansiveness of Jupiter merged with the detailed practicality of Virgo (Jupiter is currently in Virgo) that coincides with the transit of Saturn (structure and cold hard reality) through Jupiter-ruled Sagittarius (expansive optimism). The collision of our dreams and fantasies with the real world is not always easy and we are seeing this kind of roiling in the financial markets today.
Of course there are economic realities apart from the astrology that are affecting the markets: primarily the fact that with interest rates approaching zero there are few other places for investors to put their money. There is also the fact that the “quantitative easing” has flooded the market with cash to artificially inflate the situation. And it doesn’t help that the Fed has not clarified whether or not to raise interest rates.
Still, the astrological backdrop made the current upheaval in the market easy to product. The summer Venus (representing our values and wealth as well as love and relationships) retrograde began a shift from the rather robust optimism to a reconsideration of the realities on the ground. Now we have Mercury retrograde as well as a Jupiter (optimism) opposition to Neptune (fantasy) that refuses to see things as they really are but rather prefers the world of ideals and magic.
Underlying these more fleeting influences is the fact that Pluto is still in the responsible sign of Capricorn where fluff is not tolerated and restriction becomes the rule rather than the exception. As long as Pluto remains in Capricorn (through 2023) it will be crucial to keep our eyes open and not be swayed by fantastic claims that appear too good to be true.
Ray Merriman, noted financial astrologer, […]
October is not often a good month for the stock market. But in a market that is overvalued and long overdue for a correction, combined with fears over war and infectious diseases, American optimism hit a new low this week with a precipitous plunge in the markets.
The (Sibley) astrological chart for the US has Sagittarius rising, and Sagittarius likes to do everything in a bigger than life fashion. Americans are famous for overreacting (witness the current hysteria over ebola) and there has been plenty of bad news to react to. While it’s true that Mercury retrograde periods often bring reversals, they are typically not so dramatic as the one we saw yesterday. This was a highly reactive and that brought added drama to what would normally have been a pullback from inflated markets.
This chart tells the story:
You can see that the Dow began its rapid decline on October 8th, the day of the lunar eclipse. Eclipses are known for heightening emotion, and this eclipse, with the Sun at 15 Libra and the Moon at 15 Aries, sat right on the Sun/Saturn square in the US chart which would have activated the inherent anxiety in the US national consciousness. As if that weren’t enough, transiting Saturn is approaching a square to the Moon in the US chart which will be in exact alignment in mid to late November of this year. So don’t expect the anxiety level to decline, and in a global world where everything is connected, this will affect markets the world over.