Wednesday, September 17, 2008

// // 3 comments

Financial: Next Up

by Reb Akiva at Mystical Paths

Next up...the FDIC???? Oh my doesn't even start to cover this one...

(Yahoo - AP) Banks are not the only ones struggling in the growing financial crisis. The fund established to insure their deposits is also feeling the pinch, and the taxpayer may be the lender of last resort. The Federal Deposit Insurance Corp., whose insurance fund has slipped below the minimum target level set by Congress, could be forced to tap tax dollars through a Treasury Department loan if Washington Mutual Inc., the nation's largest thrift, or another struggling rival fails, economists and industry analysts said Tuesday.

The FDIC has enough money left to cover 2 medium-large bank failures, 1 large failure, or 10 smaller failures. Then it's empty and the government has to start printing money to cover failure insurance (trying to sell extra treasury bonds, which get costlier every time it happens - like $85 billion for AIG today, next time???).

Sooner than expected. People (wealthy ones) have asked the Breslev tzaddikim what to do - the response - put your money into tangible assets immediately. Buy a house in Israel (no loan) if you have the funds to cover it.

For who knows their value next week.

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3 comments:

Rachel Tzipporah said...

And for those of us without that kind of money? What other "tangible assets" do they suggest?

Baruch Eliezer said...

I'm not counting on tangible assets. The only asset I believe we need to invest in is Emunah. It will be the only thing in the end that will see us through. Knowing that keeping the mitzvot of the 3 meals on Shabbat (Shabbos 118a) will mitigate the 3 painful events of 1) the travails of the Mashiach, 2) the judgment of Gehinom, and 3) from the war of Gog uMagog.

Anonymous said...

Rachel Tzipporah's statement is pure truth encapsulated within brevity.

The ganavim will build huge fortresses upon the backs of those sold. When the Yom Y-WH comes, they hope to escape the wrath that will ensue by insulating themselves with wealth and property. There is no altruism within them. They have forgotten the words given to the Nevi'im...that the Living G-D will reach those upon the mountains, within the earth, and beneath the seas.

Baruch Eliezer, let my words be an "addendum" to yours...Acharei Mot: Ushmartem et chukkotai ve'et mishpatai asher ya'aseh otam ha adam va'chayyai bahem: ani Y-WH.

It states, "ha adam," not "ha ivrim" or "ha yehudim."

Thirst for righteousness and obedience to the mitzvot. Let the ganavim reap the error of those ways..as they build their precious houses and roll in money, gold, gems, and tangibles. They will not open their homes to the moaning, wretched poor.

Their houses will not protect them for the Yom Y-WH. G-D will restore us to the tents, the flocks, and the herds.

Geulah? Remember, 2/3 of all will die, and the remaining 1/3 will be proved/tested. I am not ready now. I pray to be, and that all of us will turn to His Torah before it is too late.
Shalom v'layla tov
A small, unimportant Jew

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