Catherine Austin Fitts in her latest interview said that the current level of incompetence combined with the greed of crony capitalism forces her to conclude we will have a major financial meltdown by the end of next year.
Previously, she had told Greg Hunter that the Powers That Be stole $40 trillion from us and that they would steal tens of trillions more before the Dollar Died. In the past she always said that TPTB would manage to hold things together while they looted the American economy. She has said they have stolen money by the hundreds of billions every year from American taxpayers. Catherine called this massive theft the Slow Burn. Other economists were worried about predicting the year when the Dollar Died but not her. She sees the coming collapse as the result of the incompetent management of our banking and Treasury officials.
She has said that before George W Bush became President she decided to meet clandestinely with a man who also managed large funds. Catherine Austin Fitts had been the Managing Partner at Dillon Read Investment Bank before she became Housing Secretary in the first Bush administration. She had concluded that so much money had been stolen from pension funds that TPTB must be planning genocide rather than to make restitution for the retirement funds of tens of millions of Americans they had pilfered. She met her friend who had a similar financial background to discuss these disturbing facts. He agreed with her interpretation of events. Genocide of Americans was definitely on the agenda.
But she is optimistic about the future. If we avoid war, there are 7 billion people outside America who will wake up after the economic collapse wanting to go to work. America has had the ability to print the world’s only international reserve currency. This has allowed Americans to buy things for free from foreigners. It has also allowed Wall Street to fund their imperial wars and to have occupying military bases in nearly 150 countries. The US spends almost a trillion dollars a year on war if you count supplemental appropriations, retirement and veterans healthcare. That is to be compared to Russia which spends $52 billion a year on defense.
Catherine is aware of the banks and drug running. She wrote Narco Dollars for Beginners years ago. She analyzed the buyout of R J Reynolds tobacco company by Kohlberg, Kravis and Roberts. She noted that the terms made no sense for the buyer until you factored in the enormous profits to be made from laundering illegal drugs and weapons money. If you wanted to make an illegal weapons or drug sale or to get money to terrorists, you could buy a few truck loads of cigarettes which could be sold on the black market anywhere for local currency. There is so much drug money in circulation that we need to account for it in our economic models. Recently, I wrote of the secret Black Ops slush fund that bought a trillion dollars in US Treasury bonds over the past year from Central Banks who had begun Dumping Dollars.
She says we will have to re-engineer our budget but we should do that honestly by first acknowledging the theft of tens of trillions of dollars from taxpayers. Otherwise you would have to balance the budget on the backs of the people who had been robbed by TPTB. She said the Debt-Growth Game is over. We need Openness to overcome Secrecy. Large corporations and Banks have been given Free Money while small businesses have a cost of capital 30 times as great as J P Morgan and Goldman Sachs. To get back to productivity we have to bring down the whole edifice of Secrecy and Privilege.
The problem with the United States economy is that the Elite are free to kill and steal. She sees the Democratic triumvirate of Bill Gates, Warren Buffett and Hillary Clinton as the standard bearers of crime and corruption in government. But the same Crony Capitalism runs the Republican party except for Trump. She views Sanders positively.
She sees Trump’s appeal to those reject both vaccines and Common Core and the harm they do to our children. Trump and Sanders both appeal to those who adamantly reject Crony Capitalism. We will not survive as a people if the TPTB remain in power. She wants nothing to do with the software Bill Gates provides us with backdoors for the NSA and interested hackers.
Catherine emphasized that the General Public supports the Central Bank Warfare model as long as they can pretend they are not responsible for it. The Petrodollar is dying. It is the Narco Dollar and illegal weapons sales that prop up the American banks.
She described the ideal for TPTB as Free Range Totalitarianism as opposed to FEMA Camps and martial law. An economic meltdown would be very bad for the current leadership. We can have a peaceful transition to a New Economy if we have the right people running the government.
She sees TPTB as being very afraid for their future. She sees decentralization as the solution. Catherine often remarks that we have over 3,100 counties in the US. We need to allow the counties to get more control over the federal budget. When she was at the Housing Dept, she saw that homes could be remodeled for $50,000 while the government was spending $250,000 per unit for public housing. She discussed this with others in Washington but their attitude was that the Housing Dept was there to generate fees for their campaign donors.
She is hopeful for the future if we can re-engineer the government.
When an economy crashes, Unpayable Debts are cancelled en masse. There are 3 ways to cancel Unpayable Debts. The first two are very painful. In 1923 Germany they tried Hyperinflation. In 1933 America we tried default through bankruptcy and foreclosure. 3 million Americans starved to death in the Great Depression. There is a better way. The Babylonians and the Sumerians before them cancelled debts through government action. The Bible writers called this the Jubilee. When we re-engineer the government, we will need a modern version of a Jubilee. Please consider this:
I have been following the works of Catherine Austin Fitts for more than a decade.If you want to read more about her, please consider this:
When we re-engineer the government, we will need to replace our banking and monetary system. Two IMF economists looked at a plan first suggested in 1933 and found it would work very well. I wrote about that here:
I mentioned that secret US Black Ops slush fund that used drug money profits to buy a trillion dollars in American Treasury bonds over the past year. You can read about that here:
This is the video interview with Catherine.