What if you had been warned over 3 years ago about the worldwide financial Armageddon currently unfolding?
The impetus for this entire “Meltdown2011” site came from a booklet of financial advice and warnings for the future published in 2005 by J. Donald Walters. For the first time I’m posting extensive excerpts from this work. IT IS A MUST-READ.
So far it has been chillingly accurate in the predictions it made three and a half years ago, when prosperity reigned and the future looked bright. Find out what else it forecasts, and the advice it offers to weather the coming financial hurricane.
Warnings and Advice from a Saint
How often do you get to hear practical financial advice and warnings for the near future from a true modern-day saint?
Now, I’m talking about a deeply spiritual guy, not a deeply religious guy. (World of difference between the two. In my experience the deeply religious are motivated by a desire for power and control over others; the deeply spiritual are motivated by a genuine love of God. The latter are quite rare, and it’s a true privileage to know one.)
I met one such being a decade ago and, while he would not refer to himself as a saint, he is indeed one in my book–a genuine lover of God and well-wisher for all humanity. His name is J. Donald Walters (he also is known by his spiritual name of Kriyananda).
So often saintly pursuers of God can’t be bothered with the more mundane concerns of the world and its machinations. He is an exception. In June 2005 he penned something that completely changed my views on finance and the future. I’ve excerpted it for this series of posts, starting below.
Remember: this was written in 2005 while the economy was still booming around the world.
Excerpt 1 from J. Donald Walters’ 2005 “Material Success”
What Is Your Motivation in Your Investments?
When an individual invests money in stocks, although he is helping others to succeed in their business, he is also hoping they’ll devote their time and energy to making him rich. Rarely do people invest in the stock market as a service to others. Their usual motive is self-service: greed, in other words.
That is how most people see their investments. They want to become rich with as little effort on their part as possible, and hope to see all their investments grow magically in value without continuing effort on their part. A disadvantage to this way of making money is that it is, of course, risky. In a rising market, every investor may seem a financial genius, but when the bottom falls out of the market even those who may have been brilliant often end up bankrupt.
The main danger, however, in karmic terms, is that stock market investments are made from a desire to gain without effort. For business to be in harmony with karmic law, it should have also, as an important motive, service to others. Business nowadays, unfortunately, is becoming motivated instead by increasing greed.
Financial Crash in the Near Future
I shall begin this lesson by discussing a probable event in the near future of which every student of this course ought, I believe, to be aware. It concerns a financial crash that Paramhansa Yogananda predicted frequently toward the end of his life, speaking with great fervor and conviction. He said it would be disastrous for humanity, and would come as a simple result of man’s greed. Greed, in fact, has been people’s principle motive for investing in the stock market.
Because this prediction was made by a great spiritual master, and was seen in visions in a state of divine consciousness, it deserves consideration primarily for that fact, and only secondarily as a logically possible outcome of the present situation. He said it often: “A great depression is coming.” It would be well for people everywhere to take this warning very seriously.
Often I heard him speak of these things in public. “The next depression,” he warned, “will be far worse than that of the 1930s.” A senior disciple of his told me she had heard him say, “The dollar won’t be worth the paper it is printed on.”
Americans Will Lose Half Their Wealth
Americans have been too long accustomed to overall prosperity, and are to some extent intoxicated with the expectation that their prosperity will never end. Thus, instead of saving their money they spend it “like water,” going far beyond their actual income by using credit cards and going into debt. At present, American personal indebtedness amounts to an average of $20,000 for every man, woman, and child in the country.
Yogananda did not predict destitution for America. Rather, he said that Americans would lose half their wealth. So spoiled have Americans become by wealth, however, that they will see even a lesser loss as devastating.
There is a positive side to this picture also, however. My Guru added, “But they will be more spiritual.”
A Terrible Cataclysm
On one occasion when he was uttering these warnings publicly, I was startled to hear him say after a brief pause, speaking with great force, “You don’t know what a terrible cataclysm is coming!”
Perhaps he was only emphasizing his general theme of depression. It seemed to me, however, that these words were an insertion into his theme. The word, cataclysm, usually refers to some massive natural catastrophe, perhaps threatening the entire planet. I’ve not known it to refer to a man-made disaster. In any case, his words were dire enough, whatever their actual intent. If he meant them only to emphasize what he was saying about preparing for economic hard times, it is certain that he meant at least, “Take my warning very seriously!”
The Reason for the Coming Depression
He explained repeatedly that the reason for the coming depression was greed. Would it not be fitting, indeed, for such a depression to begin with a stock market crash? The stock market is an exact expression of people’s growing greed, and their hope of attaining wealth without actual effort.
Money earned by the sweat of one’s brow, or by straining one’s intellect, is honorably earned. When people try, however, to gain wealth by other people’s efforts, they are treading on “thin ice,” for the attempt goes counter to karmic law.
America Endangering the Whole World
If one seeks gain without giving anything in return, he gains bad karma. Nowadays, more and more of the wealth of America is being produced in other countries, where labor is relatively cheap. Can Americans afford indefinitely to sit back and let others do their work for them? In what way can this attitude be considered honorable?
The trouble is, the whole world’s economy is inextricably intertwined. That economy, fortunately or unfortunately, is also tied to the American dollar. As Brazil has been endangering the planet by clear-cutting vast tracts in the Amazon jungle, so America is endangering the whole world by its fiscal irresponsibility.
In the next excerpt from “Material Success” J. Donald Walters writes on:
1) What will the coming upheavals produce?
2) Is nuclear war truly impossible?
3) Can wishful thinking change the world’s karma?