SUNDAY

When I began this Blog I wanted to focus on the New World that is emerging. A world created by Love.  I hoped to encourage people to see without judgement and to imagine a world where the most loving of our citizens would rise to the top of the power structure. If we create, with the thoughts that we hold in our mind; then it behooves us to look to our minds for the peace, love, and joy we want to out picture. All this is easier said than done; but, we do have a lot of help and we will do it. There is a significant period of transition where learning will be intensive. We can help each other through this time.

I have said earlier that I didn't know the timing of the economic  collapse; although I did say it was only months away. Things are happening behind the scenes which would indicate it could happen in days. Merrill Lynch has been given the okay from Bernanke to transfer their toxic paper to their banking arm which is Bank of America. This action makes these worthless holdings eligible for FDIC coverage. The amount is over seventy trillion dollars, which will be dumped on the taxpayer. If the bank fails these trillions will have to be paid before FDIC pays the depositors; according to some folks that have investigated the situation. If this is true, anybody with money in Bank of America is in a very vulnerable situation. FDIC will clearly go bankrupt unless congress could come up with the money. That is highly unlikely in today's climate. This coupled with the teetering of several European banks could spell big trouble in the immediate future.

The transition period may be upon us. If I had substantial money in a big bank, I would withdraw it. I would contemplate what life would be like if the big banks fail. What if there was an interruption in the flow of money? How long would stores stay open? If the government acted swiftly and appropriately, the disturbance could be minor. However, considering the current gridlock, appropriate action appears unlikely. I hope I am wrong and I well might be; economic predictions are notoriously difficult. Yet, I am sure enough that we will check our supplies to make sure we have enough food to get us by a couple months. Fifty pounds each of rice, dried beans, flour etc. will go a long way towards making life comfortable.

Jamie and I have the advantage over most folks because we lived the 'simple life' before. In the early seventies we were part of a movement of 'back to the landers' who experimented with living off the land as much as possible. Out of curiosity and a sense of adventure, we lived without running water or electricity for seven years. We lived graciously, even elegantly and we can advise others if worse comes to worse.

I would encourage people to use the comment section. Perhaps we can get a discussion going.

Love and Peace, Gregg