Stationing Pluto and the Power of The Federal Reserve

In the past month, we’ve seen an enormous amount of volatility in the global financial markets, mostly due to the subprime mortgage crisis and the collapse of the real estate bubble. In an attempt to calm the panic, the Federal Reserve dusted off a protocol last invoked during the great depression of the 1930s, enabling the agency to facilitate a buyout of troubled investment bank Bear Stearns.

Now it seems the use of the historical procedure has emboldened the Fed to seek greater powers over the US financial system. That, and some interestingly timed planetary transits.

On Monday, March 31st, 2008 Treasury Secretary Henry Paulson will appear before Congress to ask that the Federal Reserve be given new powers to oversee the US financial markets. The Fed was initially created to oversee only commercial banks, those that cater to Mr. and Mrs. Average American.

Coincidentally, the Fed’s powers were already increased in 1994 with the passage of the Home Ownership and Equity Protection Act (HOEPA). HOEPA assigned the Federal Reserve the task of preventing predatory lending practices in the home mortgage market.

The Federal Reserve was established on December 23rd, 1913 in order to create a central bank that would standardize US currency.

It is a common misconception that the Federal Reserve is a branch of the US Federal Government. It is, in fact, an independent entity run by a Board of Governors whose members are appointed by the president. Wikipedia explains it this way:

It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress and the terms of the members of the Board of Governors span multiple presidential and congressional terms.

There exists a great deal of controversy over whether the establishment of the Federal Reserve has been good for the people of the United States. Some even argue that it is unconstitutional. Presidents Andrew Jackson and Abraham Lincoln resisted the creation of a Central Bank. The Fed was finally signed into law by Woodrow Wilson, who later regretted it, stating:

I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men…

Pluto and The Power Of The Purse

At the time of the Federal Reserve’s Founding, the Sun was at 01 degree Capricorn, opposed by Pluto at 00 degrees Cancer. If you have been following the current positions of the planets, then you are aware that Pluto entered Capricorn on January 28th of this year and currently sits at 01 degree of that sign. Pluto rules power as well as money not directly under your own control (such as taxes and investments).

As Treasury Secretary Paulson appears before Congress on Monday to ask for increased powers for the Federal Reserve, Pluto will be stationing (appearing to stand still in the sky) exactly conjunct the Fed’s natal Sun and opposite it’s natal Pluto as it prepares to go retrograde on the 2nd of April. The energy of a planet as it stations is said to be greatly magnified.

As Pluto turns retrograde it will slip back into the sign of Sagittarius, remaining there from June 14th through November 26th. The hallmarks of Sagittarius are optimism and expansion. Pluto’s initial entry into that sign in 1995 coincided with a rally in the financial markets. Combined with the ability to make trades over the internet, the nature of investing was forever transformed (another Plutonian effect.)

With the intense Pluto in Capricorn somberness that now colors the financial outlook for the US, it appears that the Treasury Department and The Federal Reserve are seeking to benefit from the current Pluto station and its upcoming foray back into Sagittarius by presenting the Fed as the only entity that can stem the rising tide of financial uncertainty.

If Treasury Secretary Paulson is successful in his bid to grant greater oversight of the US financial markets to the Federal Reserve, it will result in an unprecedented concentration of power, giving enormous control over US financial markets to a non-government entity whose decisions are not subject to approval by Congress or even the President himself.

On the other hand, Pluto’s transits may bring to light hidden information that will prompt profound changes in how the US handle its resources.

No matter how this transformation manifests, and it’s still too early to know, we are surely about to witness an intense struggle for economic control.