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Response To That Final Question:

Ignorance is the Bane of Man.
At a distance removed,
Dimly remembered, and
Still not seen distinct,
But yet somehow felt;
What we do sense
Is not reality; is not the Real Thing.
This World is hologram.
Then; for lucid sleep;
For it's just a dream
Within another dream
And we are not awake.

Seven Stars' Song of Revelation

Ignorance is a jail where no escape
Is possible but through knowledge.
Don't fear nor spurn. Dare to learn:

Assent to and accept this world as it is
Before attempting ascent to any world
Aspired to or wished for. Life's glorious!

That That Is can be known but by few.
Not space, not time, not gravity exists;
But as Extension from Field of Thought.

Be subject to neither church nor crown.

Dread naught. Disdain none: Not One!
Absent That That Is, there's Nothing.

That That Is, IS. That That's Not, IS, too.
That That's Not makes That That Is: IS.
That That Is makes That That's Not BE.

By rowing to That That Is, I become "I."
Wind + Water = Wave. As THOUGHT is
The Heart and The Nave of The Wheel.

Worlds are created from Thought alone.
That which we will do is because of that
What we are. We'll become who we are.

Charity, courtesy, civility, compassion,
Are cardinal spokes making civilization;
Chivalry forms center, hub's circle core.

IS is! Be not the slave of some other's I.
This, Creed of our Seven Stars Society;
This, The Teaching of the Seven Stars:

No man can be happy if he should choose
To be exile from his own nature and soul.

Precognitive Prescient Prophetic Poetry by WILLIAM O'CONNOR

Thursday, June 11, 2009

No Escape for USA

Some people have asked for comments on the financial crisis. Well, I've audited and worked for most of the banks involved; so here goes: Simply put, the government doesn't know what it's doing. Neither do the banks, of course. Not that I know what I'm doing either: but no one is dependent upon me---luckily for them. Let's take a small example: the US Treasury set up the Troubled Asset Relief Program (TARP) because banks were undercapitalized and illiquid. The idea behind TARP was for Treasury to acquire bank's bad assets: loans; hence the name TARP. Of course, it didn't do that; instead the Treasury purchased bank preferred stock, convertible to common with warrants to purchase more bank common stock. As soon as Treasury placed some restrictions on executive compensation, the more solvent banks (J.P. Morgan Chase, Goldman Sachs and others) decided to repay immediately monies received from Treasury, plus interest. The government, being the government, announced success---TARP succeeded! The other less solvent banks will convert the government's preferred stock to bank common stock, making the government the largest shareholder. Of course, if they couldn't repay the TARP funds taken, it would mean that any non-repayer was practically insolvent so their common stock is worthless. But let's look at the institutions who do repay because their executives want their bonuses. The reason that government got involved is clear; if government didn't get involved, and as USA is a credit economy lead by financial institutions, government must fall along with all its banks. The reason government got involved was and is: its own self-survival. Reasonable enough. But the early repayment of funds actually worsens the situation. Everyone now knows which banks are truly insolvent: those that could not repay the TARP funds. Those that did, did so; so that they wouldn't be subject to compensation restriction: multi-million dollar bonus will live on. Nothing has changed. Systemic failures shall still occur because all those bad assets have not gone away.

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