Financial stability challenged in the UK

February 17, 2008

Dear friends,

On September 9, 2007 I wrote a post about "UK: financial difficulties ahead?" on this list (see below).

On the same day I commented off-list:

"UK chart has some difficult transits coming up. The transit station of Ketu on top of the natal L6 Saturn in H12 in the UK chart in early 2008 and then a Saturn sub period looming from next May could be difficult for financial stability."

Today (Feb. 17, 2008), we get news that the distressed bank Northern Rock may need to be nationalised. This act, if it materialises, represents the wiping out of the wealth of the shareholders of this bank. As such it is a big blow to the banking community in the UK. The fact is that liquidity has been especially hard hit in the UK during the past months due to the slower response of the UK government and central bank than in most other countries. As a result, the situation is turning out worse there with respect to the banking sector. At the same time, the outlays by the government worsen its financial position, as the public debts increase.

The news arrives on the day when L4 Jupiter is transit conjunct natal L12 Sun and transit Sun is conjunct the transit stationary nodal axis.

Best wishes,

Thor

Message #14035 of 14793

Sun Sep 9, 2007 5:25 am

UK: financial difficulties ahead?

<snip>

If we look at the UK 16° Virgo rising chart, we can see that there are many indications of problems with financial stability in the months ahead, and even in the next year or two. The Ma/Ju period is running until 18 May 2008. during the remainder of this period L4 Jupiter, an great benefic in a Virgo rising chart, is transiting good houses, H3 and H4. From June to September 2007, Jupiter has been exactly conjunct H3 MEP, aspecting also H7, H9 and H11, offering protection through its own successful actions and the help of its off-spring (general indication of Jupiter), the USA, and its friends (L4 natally in H11). However, in September transit Jupiter will enter into the aspect of natal Mars in H8 and natal Ketu H7, remaining effective through October. This will adversely influence the conditions during the sub-period of Jupiter.

That said, it is the Ma/Sa period that is likely to be more troublesome. It begins in mid May 2008 and lasts until late June 2009. At that time, the UK will be in both the major period of its MMP and the sub-period of an FM - the dreaded dual malefic period. Such periods can be difficult if the planets involved are weak and afflicting in the chart.

L8 Mars is located at 20° 40' Aries, which is its own MT sign and in the last degree of the MEP of H8. As such from the beginning of this century, its maleficience will begin to be felt with respect to its aspect on H11, H2 and H3.

L6 Saturn is located at 2° 17' Leo H12, but is not afflicting in the chart. However, natal Saturn is weak, with only 1/4 strength by its placement. Further it is debilitated in Aries H12 in the Navamsa chart (50% strength). In the Rasi chart, Saturn is further weakend by it´s dispositor L12 Sun being weak through disposition. Sun is placed at 19° 06 Sagittarius H4 MEP which is a good placement, but is harming H4and H10. Sun thus also harms its own dispositor, L4 Jupiter. Moreover, the Sun´s strength is undermined by its dispositor, L4 Jupiter, although well placed and exalted at 10° 46' Cancer H11 has its dispositor L11 Moon, also well placed, but weak being in old age at 28° 20' Gemini H10 (1/3 strength). In other words Saturn has only 1/4 strength and the L12 Sun, its dispositor is harmful to the indications of real estate, communal harmony and the

executive branch of government.

In other words, In the UK chart the lord of financial stability is in the house of losses and weak on all accounts. It is therefore highly vulnerable to transit afflictions.

<snip>

With L4 Jupiter in H11, L11 Moon in H10, Britain has good friends and its L2 Venus is well placed in H5 giving speculative tendencies. London is the worlds premier financial market. However, as Ketu afflicts Venus, this can give sudden crisis to H2 indications of status, wealth and relations with neighboring countries.

In any event, turning back to the condition of Saturn. In November and December 2006, transit Saturn entered Leo for the first time, went retrograde at 1° Leo and then reentered Cancer. A study of financial stability conditions in the UK could reveal some weakness having emerged at that time, more so as transit Ketu also entered Leo H12 at that time (albeit 30° Leo!). In April 2007, transit Rahu and Ketu entered the MEPs of Aquarius H6 and Leo H12, beginning to create tension there. However, it was only after the Rahu went stationary in the 14°-13° range of Aquarius H6 and Ketu in Leo H12 in late July/early August that the strains became palpable. More so as in mid July Saturn had reentered Leo H12 and then became exactly conjunct natal Saturn on 4 August, around the time when the US sub-prime crisis began spreading to Europe and has since been worryong investors around the

world.

Looking ahead we have the following transits to consider:

* transit L6 Saturn conjunct Ketu and L2 Venus around 11° Leo H12 in the second half of October 2007

* transit L6 Saturn stationary at 14° Leo H12 MEP from November 2007 to January 2008, afflicting H12, H2, H6 and H9.

* transit Rahu at 3° 45' Aquarius (afflicting natal Saturn) and Ketu at 3° 45' Leo conjunct natal Saturn - felt from December 2007 to May 2008, but peaking in early April 2008.

On the upside, these transits occur before the onset of the sub-period of Saturn, but in my judgement, they will have set in place a weaker situation for the financial stability of the country during that period. In the second half of 2008, the nodes will move into Capricorn and Cancer in 2008 and shortly thereafter become stationary at 25°, from where they will afflict L2 Venus in H5 and L1 Mercury in H3.

<snip>

Last Updated: Sunday, 17 February 2008, 16:02 GMT

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Printable version

Northern Rock to be nationalised

Northern Rock hit difficulties because of the credit crisisNorthern Rock is to be nationalised, the BBC's business editor Robert Peston has learned. A consortium led by the Virgin group was leading bids to run the beleaguered bank, while a management buyout had also been considered. But ministers have decided that nationalisation - the first such move since the 1970s - was the only option. "They felt that the offers on the table did not offer enough to the taxpayer," Mr Peston said.

The decision will be a blow to the bank's shareholders - who will receive next-to-nothing in the short term for their shares

Robert Peston,BBC business editor

Read Robert Peston's blog

"It's a momentous moment. Nationalisation has become a dirty word associated with industrial failures of the past," he went on. "Financial services, by contrast, have been considered the great British success story - so for such a seemingly growing bank to end up being nationalised is a big moment for the City and a big moment for the government." Northern Rock got itself into financial difficulties last year because its business model left it ill-prepared for the global credit crunch. It was forced to ask the Bank of England for emergency funding, triggering the first run on a British bank in more than a century. Job threat UK taxpayers are now subsidising the bank in loans and guarantees to other lenders to the tune of about £55bn. The Treasury now feels that nationalisation offers the most certainty of securing these guarantees, Mr Peston said. The Treasury was due to announce its plans for the Northern Rock at 1600GMT. It is thought that the business model it proposes will be similar to those put forward by the Virgin Group and the in-house management consortium. These were likely to see a downsizing of the bank, with job cuts likely, observers say. The Treasury had already recruited the former boss of the Lloyd's of London insurance market, Ron Sandler, to lead Northern Rock, in case the bank were nationalised. Mr Sandler is widely regarded as having restored confidence in Lloyd's after its years in financial disarray. He is well known to Prime Minister Gordon Brown, and worked for the Treasury in developing the so-called stakeholder pension and investment products that were intended to help those on lower incomes save for retirement. Chairman of the Commons Treasury Select Committee John McFall said that he welcomed the Government's decision to nationalise. "They have explored every avenue. At the end of the day the biggest issue is the safeguarding of taxpayers' money. If nationalisation saves that money, that has to be the correct step in the long term."

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