I have been keeping myself abreast of the financial situation in the world and the following is purely my interpretation of that information for people to agree/disagree or deal with as they wish. The relevance to LRHs works comes in shortly.
The Global Financial Crisis or GFC which manifested in 2008 was caused by the bubble of the sub-prime mortgage fiasco. Basically mortgages were given to people who couldn’t afford them, these were packaged up as investments, and given AAA ratings by rating agencies such as Moodys and on-sold to unsuspecting investors. This is all excellently covered in the recent movie “The Big Short”. The people who took out the mortgages started to default on their mortgages and the crash took off from there. And as LRH says, “money is just an idea backed by confidence” well, the confidence started to slip big time.
To ostensibly head off a global financial disaster, because the banks were “too big to fail”, a bail out occurred, tax payers money was used to prop up this corrupt activity without correcting the system that caused it. In the US now the debt is in the many trillions and climbing. Only 1 minor banker in the US was ever charged with a criminal act in this whole mess despite the devastation caused on a global level.
Interestingly this bail out did kick the can down the road, and postpone any major crash, the stock market rose. But the actual economy of the West, has not returned to its heyday, but contracted, as LRH outlines when the correct Ethics Conditions are not followed.
Definition; “The Glass–Steagall Act, also known as the Banking Act of 1933 (48 Stat. 162), was passed by Congress in 1933 and prohibits commercial banks from engaging in the investment business. It was enacted as an emergency response to the failure of nearly 5,000 banks during the Great Depression.” This act was repealed by President Clinton during his term as President.
With this Act in place, enacted as a result of the great depression of the 1930’s, it prevented banks from speculating with depositors money, once it was repealed the wolves just went to town and they were not stopped and is still occurring.
From what I have been reading, if another crash occurs, the new idea to save the banks will be a “bail-in”. This is the taking of depositors’ money to prop up the bank. A very good website that details this can be seen here; http://www.cecaust.com.au/ .
When I first heard this, I was sceptical. How could a government get away with this? But it has already happened, in PT, in Cyprus, and you can read about it here; https://en.wikipedia.org/wiki/2012%E2%80%9313_Cypriot_financial_crisis.
What has this got to do with LRH?
I have been restudying my Levels materials and came across this from the SHSBC lecture of 6th July 1961 “Routine 1A Problems and Confront”.
“. And I know I, one time — very dear friend of mine, an old man when I was a kid; he was a dear friend of mine He was going along all right. He was a very sunny, cheerful sort of fellow. And I got back to this part of the world and dropped in on him one day and good heavens, he was a shattered wreck — an absolute wreck! He was a gone dog. And actually, within a few years, had gradually gone downhill to a point where he was totally paralyzed and a couple of years after that died; and it was all because of one problem.
He had been working in a bank and he was a shareholder in the bank, but he also had a job in the bank. And when Frankie the Limper took over, he made sure that all the little banks went crash, see? And all the banks went boom! See? And so he gave it all to the big banks because he thought things ought to be in chains or something. That’s right. This is the actual history of it, although I’m speaking about it rather sarcastically. And this poor guy watched one of these chain banks come in and pull the routine modus operandi.
And because there was a bank moratorium, then the bank wasn’t permitted, you see, to pay out any of the accounts. If you had a checking account or a savings account, that was seized. But if you had a mortgage and the bank had a mortgage on you, you had to pay it —every penny of the mortgage, see? They got all the cash. It was the biggest raid known in financial history. I don’t know, in a few decades somebody will wake up to the fact of what that was all about — “the great friend of the people.” But it was just that. They then were given the opportunity to seize all the cash in the bank, and then make everybody make good their paper too.
Well, of course, they pronounced all the little banks insolvent by government order and then they, of course, were grabbed by all the bank chains. So little guys such as this, with a little job and some shares in the bank, and so forth, were just wiped out. Bang!”
“… in a few decades somebody will wake up to the fact of what that was all about”.
Well, that seems to happen in history, some mistakes, intentional or otherwise, are just left out and we end up blithely repeating them.
No one can tell me there is no such thing as a 4th dynamic engram and a society dramatizing it as outlined by LRH.
This scenario also goes along with the predominance larger companies are exerting over smaller ones, something I have experienced first hand, and the oligarchy President Carter was talking about that now runs the US.
Incidentally, this sort of thing is not new, it has happened in the 1800s in the US with the railroad bubble, even in the 1600s with a Tulip bubble (of all things) in Holland,
It seems that where there is a scam artist who can think big, there will be an economic downfall. It would be nice if someone could catch and audit the evil purposes out of this guy to prevent this from happening again in another 100 years.
I am not writing this to alarm anyone. I hope it is wrong, and I hope I am wrong — as that would be a small price to pay. Maybe that can will be kicked down the road again.
Also it would be beneficial to remember that money is just the result of a printing press, and that a clued-in politician could just take a walk down to the Federal Reserve to see the private banker that owns it and pay for the paper, ink and time of the printer and he has essentially paid for that money, and at the same time handle the 3rd dynamic engram for the public at large and a crises could be averted.
I wrote this up as I feel I should disclose what I know and suspect, for my friends here, to look into this yourself, if you so wish, and come up with your own conclusions and act on those for your own and your families benefit.