The following is by Karen Starich, who uses astrology to forecast events in the financial markets. Check out Astrology Traders for specific dates and in-depth analysis of future events in the various markets she covers.
The Bankruptcy of MF Global has put a chink in the plans for New York banks and their crony political friends. On December 10th there is a total lunar eclipse that will square the Moons Nodes (world money trends and karma) in the Federal Reserve chart. Most likely the abuse of power and handling of the MF Global bankruptcy is going to escalate and potentially reveal some very troubling and embarrassing details.
Jon Corzine has a long reputation of developing intimate relationships with government officials for financial gain. In 1994 as Chairman Of Goldman Sachs, Corzine collaborated with then Treasury Secretary Robert Rubin to repeal the Glass-Steagall Act, which separated commercial and investment banking. Corzine understood that stocks could be leveraged by 100% however US government bonds could be leveraged by 5000%. By eliminating Glass-Steagall the firm could take advantage of the leveraged risk. Corzine got his wish when in 1999 Congress and President Clinton signed the Gramm-Leach-Billey Act, repealing Glass-Steagall.
It’s very ironic the repeal of Glass-Steagall and the bank failure of MF Global. In 1933 Franklin D. Roosevelt signed the bill into law to protect depositors money from being wiped out by banks who speculated and lost, with the formation of the Federal Deposit Insurance Corporation (FDIC). Many who lost their money in the crash of 1929 were farmers. Along with depositors, it’s the farmers again who are at a loss as many who had deposits or investment accounts with the firm are unable to purchase seeds for their spring crops. Also ironic is the recent business arrangement between MF Global and the former president who repealed the bill. A former MF Global employee claims Bill Clinton’s firm Teneo was hired by Corzine to enhance his political connections with the Clinton political family just months before the firm went bust. (Read more here)
Corzine and Clinton’s inside expectation that political allies in Germany and France would put the cost of bailing out the bond holders onto the backs of the taxpayers did not work out when the voters rebelled and demanded that bond holders, like MF Global, suffer losses. On October 28th Uranus made an exact conjunction to the Midheaven in the Federal reserve chart. I wrote on October 27th to “Watch Out” for a potential event that would be a trading scandal and a turn in the markets. The lunar eclipse on December 10th will most likely bring to light further embarrassing revelations and transactions with MF Global. In January 2012 watch out for a major default and setback for the financial sector.