This psychic reading given by Edgar Cayce at his office, 115 West 35th Street, Virginia Beach, Va., this 27th day of March, 1929, in accordance with request made by Mr. [900].
P R E S E N T
Edgar Cayce; Mrs. Cayce, Conductor; Gladys Davis, Steno. Mr. L. B. Cayce.
R E A D I N G
Time of Reading 6:45 A. M. Eastern Standard Time. New York City. (Suggestion - enquiring minds - give general perspective of conditions relating to effect of stand by Secretary of Treasury, Federal Reserve, on Stock Market, especially respecting radio and information which has been given regarding same - also American Telephone.)
1. EC: Yes, we have the bodies, the enquiring minds, [137] and [900] - these we have had before. Now there has been given each of these the manner in which they, as individuals, are to apply that as is an experience to each in their respective manners as the emergencies or as the conditions arise respecting changes in market quotations; for there has been given there would be those at hand to guide, to direct, under such changes. There have been warnings given again and again concerning the application of these conditions. These, then, are to be used as they are given from day to day, and in instances there will be found the necessity - in the changes for the body and bodies - to be both up and down during the same periods, or days - as are called.
2. Now, as to the perspective - as has been intimated, and as has been given from time to time, there is a division in the money market as related to stock exchange transaction; and the Secretary of Treasury and the Federal Reserve (as are under the jurisdiction to the great extent OF the Secretary) are against the continued speculation to the extent as this has been for such a great period; yet, as seen, there have been other groups that find there is such an AMOUNT of moneys involved in the highly speculative interests that a full or complete withdrawal would produce a far reaching panic. Hence there has been the continued raising in rates from reserves in different quarters, and this will continue to bring about the gradual changes; yet, were this to have the full effect as is apparent that it would, there would be almost a panic - and far reaching in its effect. Other interests are bolstering or keeping up these conditions. The NEXT factor will be withdrawal by other powers - Canada, England, France, Russia, and other
900-432 Page 2
powers, changing in their ratio of the reserve.
3. In the effect then had upon the two special interests, Radio or American Telephone, these - as we see - will suffer under the strain of others, and will also be bolstered to untold, or unreasonable proportions, in the spectacular rises as will occur from time to time; and while these may go much, much lower than at present, these will also during the year be more than twice the price that these are at present, when divisions and changes are considered.
4. As to the activities, then, each are to be warned and governed by those individual instructions or experiences as are to come. Watch for the GREATER unrest in the next three days even than there HAS been, though not except SPASMODICALLY will there be MATERIAL changes that are exceptional; that is, stocks may change forty to fifty points, but most of it would occur in a few minutes, see? Ready for questions. We are through for the present.