Monday, 20 June 2016

Why India's central bank governor is a hero?

Raghuram Rajan, the governor of the Reserve Bank of India (RBI), announced on Saturday evening that he would not serve a second term, and instead return to his teaching job at the University of Chicago. Economic analyst Vivek Kaul explains why Mr Rajan may have been under pressure to quit.

Raghuram Govind Rajan (born 3 February 1963) is currently serving as the 23rd Governor of the Reserve Bank of India. He was chief economist at the International Monetary Fund from 2003 to 2007, the youngest to occupy the position. He was a professor of finance at the University of Chicago Booth School of Business from 1991 to 2013, when he went on public service leave. At the Federal Reserve annual Jackson Hole conference in 2005, Rajan warned about the growing risks in the financial system and proposed policies that would reduce such risks. Former U.S. Treasury Secretary Lawrence Summers called the warnings “misguided” and Rajan himself a "luddite". However, following the 2008 economic crisis, Rajan's views came to be seen as prescient and he was extensively interviewed for the Oscar-winning documentary Inside Job (2010)

In this post we will see how Rajan has fulfilled the challenges presented by his stars. A noon horoscope for his date of birth is shown here. It carries a powerful T-square containing Sun-Saturn-Neptune-Mars. The Sun-Saturn conjunction in Aquarius, a sign ruled by Saturn, makes him a realist. The square to Neptune became the reason why the practical, level headed Saturnian was constantly warning against bubble schemes, fancy ideas and delusions that Neptune is famous for. The 2008 economic crisis came after a long Saturn-Neptunian opposition in 2006-07.

But here we will focus on the star Dubhe [15le] conjunct his radix Mars [15le] which is part of the T-square.  The following extract from Nick Fiorenza explains the challenge presented by this star which Rajan appears to have lived out complelety.

There are times to unconditionally accept what has become and there are times to creatively act to manifest the beauty destined to become.

Dubhe, Alpha Ursa Major, and Merak, Beta Ursa Major, are the two brightest stars of the Big Bear (Big Dipper). The stars of the Great Bear represent primary forces in the world that are articulated by the governing world powers. The theme of the great Bear is torn. Part of the Bear is of the fallen world powers, those of a totalitarian, controlling oppressive rule. Dubhe and Merak are of the integrous part of the Great Bear, of that which is oriented toward a greater vision, for that which is truly nourishing for humanity.

Dubhe embodies the "willingness to fight for a greater vision" beyond the accepted political-religious dogmas of the human world that keep humanity in darkness and delusion, and against the controlling global forces perpetuating that dogmatic rule.

Interestingly, Rajan’s resignation takes place exactly on the second of the Saturn-Neptune squares on June 18. A chart for the exact square at Delhi, has Rajan’s radix Mars on the Ascendant and his Sun-Saturn on the descendant as if singling him for having lived out the challenge of the star Dubhe. Mercury is forming an opposition to Saturn, a combination we have in the past associated with the phrase “saying (Mercury) goodbye (Saturn)”.

Finally, the meaning of the star Antares which is conjunct Saturn [11sa] explains the reason for Rajan’s departure.

Antares demands we take responsibility for our reality, for the lives we create, and "take a stand" for our truth, live it, and especially to take a stand against the established conditions of our personal lives and against the established order or authority directing our lives when those conditions or that authority are no longer in our best interest nor supporting our evolutionary freedom and greatest fulfillment.

No comments:

Post a Comment