Catherine Austin Fitts: Mafia of the Powerful – Trillions Missing, Digitalization Of Money & One World Government Under COVID Crisis (Video) – July 30, 2022

American investment banker and former public official who served as managing director of Dillon, Read & Co. and, during the Presidency of George H.W. Bush, as United States Assistant Secretary of Housing and Urban Development for Housing Catherine Austin Fitts recounts how she and a journalist were about to publish their “missing money” article when 9/11 took place.  Those investigations were taking place in WTC 7.  Thus, the documents were destroyed.  The missing money has grown by the trillions since that time.

The following video is and interview with Fitts by Robert Cibis.  Following the video is a transcription.

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Robert Cibis 0:10
Hello, welcome to new show Narrative. I’m very honoured and pleased to be here with Catherine Austin Fitts. We are in the Netherlands and we’ll discuss today insights into the mechanics of our society, especially through investment and stories.

Catherine Austin Fitts 0:30
Yeah.

Robert Cibis 0:31
So I think –

Catherine Austin Fitts 0:31
– money Stories.

Robert Cibis 0:32
Money stories, which can be quite powerful as we all know.

Catherine Austin Fitts 0:36
Yeah.

Robert Cibis 0:37
And what I also saw is that everybody talks about money, talks about power, but is it really just power?

Catherine Austin Fitts 0:47
No, so money is a tool. It’s a financial system, think of it as a toolkit. And it’s part of the governance system. And the power is in the governance system. But there’s no doubt that the financial system is used for a variety of purposes, including incentivizing and controlling people. So it’s a management tool, and you use it to optimise resources and manage resources, and you use it to incentivize, you know, so when I used to be on Wall Street, we would never talk about how do you get to Rome? We talked about, okay, how do you engineer the money so everybody can make money going to Rome? Because then we can get to Rome? So it’s really, you know, think of it as an incentive system.

Robert Cibis 1:34
I mean, I thought of it as a (inaudible) fiction, you know it this

Catherine Austin Fitts 1:37
yeah

Robert Cibis 1:37
the end, it’s nothing. It’s just because you agree it’s something that it’s something. And, you know, if we agree that, you know, this table is the new god of our religion then will become

Catherine Austin Fitts 1:47
it’s the new god of our religion,

Robert Cibis 1:49
if that piece of paper is money and we all agree on that, that’s, but there’s one difference, because even if I don’t believe that this money has any worth, but I know that that other guy believes it has that worth, I can use it and say, you know, I give you this and you give me these pies and apples.

Catherine Austin Fitts 2:10
Right? John Maynard Keynes explained the stock market this way, he said, it’s like a beauty contest where the judges are trying to figure out not who’s the most beautiful, but who the other judges will think is beautiful.

Robert Cibis 2:21
Ah I see.

Catherine Austin Fitts 2:21
Right? See? Yeah.

Robert Cibis 2:23
You got known during this Corona crisis. But have you been known before?

Catherine Austin Fitts 2:31
Yeah, when I was on Wall Street, I was known among that world as somebody who was good at certain things. And then, when I worked in Washington, I started a company that was very successful I was known for, you know, so in those money worlds I was known. Then I had a very long and very fractious and well known fight with the Department of Justice in the US government, over the mortgage corruption. And that caused me to be known in certain worlds. And then I started, I had a huge struggle with one of the biggest newspapers in the United States, and when I was in the Bush administration, and decided they were a criminal enterprise. And then when I, when I had the company in Washington, and it was through cleaning up the mortgage fraud, I decided that the biggest Washington paper was also a criminal enterprise. And I made a decision from now on I’m just going to talk to people. I’m not going to talk through the media, I’m just going to talk directly to people. And I’ll answer their questions. And I started doing radio shows and people would ask me questions, and I would email them back and forth. And those questions evolved into two businesses. And it was through that process of answering questions, doing radio shows, answering questions, and then evolving to businesses, which one of which is the Solari report, which I would have told you in a million years, I would have bet you a million dollars, I would never publish anything. That was impossible. Anyway, but it came from answering questions. And so there were many networks of people who knew who I was. But I would not say I was anywhere near as known, particularly in Europe as when the Planet Lockdown interview went viral. And for some reason, it resonated. I’m not quite sure why, because it was a collection of discussions of things I’d said many times before. So in one sense, there was nothing new. I’d written a story, an article in 2020 when the pandemic began called the injection fraud, and it reflected many, many years of working as an investment advisor helping families who were struggling with health care fraud and malpractice and particularly vaccine injury. And I wrote it not from the standpoint of health but from the standpoint of family wealth, and what vaccine injury does to destroy family wealth, and that really resonated because people began you know, I had one wonderful subscriber who said that recently, she said, it wasn’t until I understood the money and the science together that it made any sense.

Robert Cibis 5:09
The Corona crisis is not a medical crisis, or not only a medical crisis or a medical science crisis, it’s not just big pharma, who is you know profiting from the people, but it’s also a financial crisis or a financial acturary.

Catherine Austin Fitts 5:27
So I would describe it as a change in the governance system. So it’s a change in control, and it’s a change in how the governance system is managed, it’s towards much tighter central control. But as part of that, it is a consolidation of a financial coup that started two decades ago. And you’re watching a profound reengineering of the financial system as part of that change of control. Because in fact, the transit, the financial transaction system will be one of the primary tools to control people at a very intimate frightening level.

Robert Cibis 6:02
I think if we spend this discussion just understanding this sentence –

Catherine Austin Fitts 6:07
yes, but it will be a gruesome conversation.

Robert Cibis 6:10
Let’s just repeat this slowly.

Catherine Austin Fitts 6:12
Okay.

Robert Cibis 6:12
So we have a financial coup, which is in the making for 10 to 20 years or so.

Catherine Austin Fitts 6:17
Yeah. So it’s it’s been going on for a long time, but it really kicked off strongly in October 1997, and it’s been going on ever since?

Robert Cibis 6:30
How did you know this? So can we just give us like three or five minutes to understand why you have that insight?

Catherine Austin Fitts 6:37
Uh, huh.

Robert Cibis 6:37
Yeah.

Catherine Austin Fitts 6:38
So I, as a young child, I came to the conclusion, that the only source of reliable intelligence on what the adults were up to, was mapping out the money. In other words, what I, I grew up as a child going back and forth between many different cultures. And even though everybody spoke English, they all spoke different languages. And there were very different protocols on who would be honest about what. And I finally realised, if I could just map out the financial transactions that were going on, and the financial ecosystem of a situation that’s how I could see, you know, because the adults were lying to themselves, they were lying to each other, it was sort of a multiple personality disorder world. And so I started to map money. And my theory was, I was going to map out the money in a neighbourhood and figure out why a neighbourhood couldn’t be wonderful if you could get the money working with the people right. And what I didn’t understand as a child was to understand all the money in one little neighbourhood, you have to understand all the money on the planet, so you have to understand global markets to understand what was going on in the neighbourhood. So anyway, so I kept it professionally, I kept moving into jobs that would help me understand how the money works. So I started a firm when I left the Bush administration, and I had discovered relational database technology. And what I realised is I can pull all the money in the planet into databases and then I can look at it contiguous to environmental ecosystems. So I can I can map out the financial ecosystems contiguous to the living ecosystems. And when I did that, it was completely revolutionary. It helped me understand in very important and profound ways, how the financial system really worked, and how it related to people and living things in the environment. So it was that backdrop –

Robert Cibis 8:38
can you be a bit more specific. I’m just, I can’t really grasp it. Why would it? What would an ecosystem look like?

Catherine Austin Fitts 8:45
So I came into the 90s, with this remarkable understanding of how money worked both globally and place by place because, think of the planet as a body and every community is a molecule, and the health of the body relates to the health of the molecules and vice versa. Okay. So I come into the mid 90s with this understanding. And part of this was understanding deeply how the US Federal Budget works, because most of the money in the US, whether private or public is channels and controlled through the federal budget, and regulation. Okay. And I was part of a group of people in the Bush administration who got laws changed to require audited financial statements by the government. So every year you pay your taxes and you say, here, how has my money worked? And the idea was, according to the Constitution of the law, you’re supposed to get something back that says, okay, here’s what we did with your money. So, you know, it’s a fundamental principle, no taxation without representation. Okay, so a process began in fiscal 1998, which starts on October 1997, whereby they started to report that they weren’t going to give audited financial statements, and that vast amounts of money were disappearing. And it was literally, you know, it’d be down in the footnotes, but it was there. So in the spring of 1997, I was doing a presentation to the largest pension fund leaders in the country in the United States, including the president of the largest pension fund. And I showed him a simulation of how we could re engineer the federal budget in the Philadelphia area where I’d grown up and dramatically improve wealth and lower the government deficits. And he looked at me and he froze, wonderful man. And he said, You don’t understand it’s too late. I said, what do you mean, it’s too late, he said, they’ve given up on the country, they’re moving all the money out starting in the fall. Now, when he said that, I thought he meant they’re moving they’re shifting allocations in the portfolios, and they’re moving the money that can be moved legally. I was wrong. What happened at the beginning of fiscal 1997, fiscal 1998, October 1997, is vast amounts of money started to disappear from the US government. And so as the debt rose, money disappeared, and that’s what I call the financial coup, it started then, and as of 2015, over $21 trillion dollars of undocumentable adjustments in the US government. And at that moment, when that $21 trillion an American professor did a survey of two of the agencies where most of the money disappeared from including the place I used to work. And at that time, there was $21 trillion dollars of outstanding treasury debt, and $21 trillion of undocumentable adjustments from 1998 to 2015.

Robert Cibis 11:54
This sounds so unbelievable that I think we have to make a slow motion for people who hear this for the first time. So you said that even the Wall Street money is closely linked to the federal mechanics –

Catherine Austin Fitts 12:13
Absolutely –

Robert Cibis 12:13
So this already is quite new to me, because you know we have this image of, oh, it’s all about deregulation, and even, you know, Bush senior politics, and Reagan and all this deregulated so much that, you know, industry does, you know, the financial industry does what they want. So this is like the first question, cos I have two others for what you just said, but maybe you can respond to that.

Catherine Austin Fitts 12:34
No. During this financial coup, what happened, and it started in the 80s, was the government operations were increasingly executed by private corporations, and banks. So that literally, so for example, when I became assistant secretary of housing, I would try and get the fundamental data that I needed about our operations to make sure we were obeying the law. And the defence contractor that ran the payment systems would refuse to give it to me. And it was a war that went all the way to the White House. And I had to get White House support to get the data I needed to even understand –

Robert Cibis 13:16
So this contractor is like a private company?

Catherine Austin Fitts 13:18
It’s a private corporation, and it controls and operates the payment and information systems.

Robert Cibis 13:24
And this private corporation gets public money?

Catherine Austin Fitts 13:28
Absolutely. Huge contracts.

Robert Cibis 13:29
Then they don’t even do the audit on it?

Catherine Austin Fitts 13:31
All right. So for example, Amazon never made a profit until they got huge cloud contracts from the CIA and the US intelligence agencies. That’s when they started to make a profit. So in fact, you know, most people look at the US government and see, you know, 24 different agencies. What I see is a small number of banks and defence contractors who are controlling and running all the information systems and all the payment and financial systems and controlling the bank accounts. And literally, what you’re watching is a government that no longer has information, sovereignty and financial sovereignty. There is no sovereignty there,

Robert Cibis 14:13
Even though in the books, money go through the bank accounts of the government, doesn’t it?

Catherine Austin Fitts 14:19
Yes. So the US government through a series of laws and through a series of administrative dictums now reserves the right to keep all of their finances secret.

Robert Cibis 14:33
Okay, so you see, I’m a bit surprised. Can you describe the clash of narratives in my head somehow? What is the one narrative and what is the other one you’re describing to me?

Catherine Austin Fitts 14:44
So I know exactly what the problem is. When I first went to Washington. I didn’t own a television but I had a friend who said you can’t work in the Bush administration without a TV so she got me a TV. And so for a brief period of my life, I watched the Sunday political show, you know, how they get on and they talk talk talk talk, okay? So I’m a money person, and I’m trained whenever I do a job to have mastery of how the money works. So I was deeply involved in both the federal budget, but in all the housing and real estate mortgage, my job was to run the, you know, all the stuff the government did in the mortgage market. So I’m watching the federal budget, and I’m watching all the mortgage credit and the Treasury credit. So I’m watching the money. And one thing you understand if you watch money is our world is built with transactions. So we have ideas, we have visions, but then to implement those we organise and we implement transactions of both time and money. Okay? So I’m watching all the transactions and the transactions don’t lie. You know, if all the money’s going to Rome, you can see all the money’s going to Rome. So, but then everybody gets on the talk shows, and they go yackety, yackety yak and here’s why we’re doing this, and here’s why you’re doing that. And what you realise is, this world has nothing to this world, this world’s going to Rome, and this world is talking about we’re all going to Paris. No, we’re not we’re going to, you know, and so what you realise is there’s an official reality, and then there’s reality train tracks, which are different, and it’s a little bit. I’ve never been to Disney World, but I’ve had many friends who’ve gone and I’ve seen the videos. You know, at Disney World, there’s a whole parallel existence under the ground of people engineering all of this, you know, and doing all the transactions and the scheduling and the work. And then there’s this beautiful world upstairs with Minnie and Mickey, and everybody’s happy, right? And our world is a little bit like that you have the, you know, the plumbing under the ground, and everybody’s engineering the transactions and doing all of this and then you have Minnie and Mickey. And so there’s a reality, and there’s an official, or there’s an official reality, and there’s a reality, and if you’re a money person, you live in both worlds together.

Robert Cibis 17:08
Okay, this is why you have been talking about personality disorders, because you have to cope with having several stories, which are contradictory in your mind.

Catherine Austin Fitts 17:17
Well it’s a little bit like going back and forth between many cultures. So I travel a lot. And when you go back and forth, or when I was a child, I grew up, I went back and forth between many cultures. And different cultures have different values. And they have different narratives and different stories. And it’s a little bit like going back and forth. And unfortunately, you know, if you’re the average American, between World War Two, and sort of now, as the national security state got bigger and bigger and bigger, you have a military and a global governance system that’s running the world, and their primary business is war, and organised crime. But you want to believe you’re a good Christian. And the way you resolve that is everybody gets a little bit more money as a result of the war machine. But then they also get a story of “I am good”. Okay, so I get the check, and I’m good. And it works, you know, because then you can only do your job from Monday to Friday, and you don’t have to, you know, you come to church, and you’re washed in the blood and you feel good about yourself, and then you go back out.

Robert Cibis 18:31
How does the story “I am good” sound like? How was it told?

Catherine Austin Fitts 18:38
We’re going to war in the Middle East to save democracy.

Robert Cibis 18:42
Yeah good example.

Catherine Austin Fitts 18:43
We’re good, we are people who will help save democracy. We’re good guys.

Robert Cibis 18:47
So let’s go back to the money disappearing. How can you say that? I mean, how does it look like when money is lost?

Catherine Austin Fitts 18:53
So let me give you, if you go, I have two websites missingmoney.solari.com and hudmissingmoney.solari.com where we’ve documented this up to the wazoo be okay, so it’s highly documented and you can find all of it. What happened the first time I discovered was when 59 billion went missing from HUD I think it was fiscal 1999. And my attorney discovered it, I didn’t discover it, she was reading the test a lot

Robert Cibis 19:21
HUD is Housing and Urban Development?

Catherine Austin Fitts 19:23
Yeah, HUD is Department of Housing and Urban Development. So we’re reading some of the congressional testimony and it came out that 59 billion had gone missing, which was the reason yet again, they couldn’t produce their audited financial statements. And they weren’t going to bother to figure it out. And my attorney and I looked at each other and this was more money than their entire budget. And the mortgage fraud at the time was off the charts, the mortgage fraud that led to the financial crisis. So we knew something was very significant. Anyway, so we started to dig in, and what we were discovering was huge amounts of money were disappearing from HUD and the Department of Defence. At the same time, the private equity firms in Washington, who had little track record and experience, were suddenly blessed with billions of dollars flowing in to invest in China and Asia. And, so we’re looking at the money disappearing here and then suddenly, all these companies associated with the same people, you know, their boards had the same people as the boards of the contractors who are running these financial systems at these agencies. So we’re watching the same people, as money’s disappearing at the agencies they’re running, their companies are suddenly getting these huge amounts of mysterious money. So we started to look at that, and I got a reporter interested in helping me follow the missing money. So she started to write these fabulous stories about the missing money, and she had a whole series going, and we were finally going to rope it up into a huge cover story in her weekly magazine that would go to all the congressmen and senators. And we were just coming into the big headline, it was going to be the following Friday, and that Sunday I went to church, and we would always get occasionally very political sermons. And we got a very political sermon that indicated we were gonna go to war in the Middle East. So I came back, it was September 7, 2001 and I called the reporter I said, we’re going to war in the Middle East. She said, that’s funny I haven’t heard a thing because usually if I got a sermon, she’d get a leak. And she said, I haven’t heard a thing I said, I’m telling you, we’re going to war in the Middle East. First, we’re going to Afghanistan that we’re going to Iraq was like Wesley Clark’s, you know, seven countries in five year plan, but we’re totally focused on getting this article published, which was going to be like the 13th it would come out on Friday, and she calls me back on Monday and she says, you’re not going to believe this. Donald Rumsfeld just had a press conference and admitted that there’s 2.3 trillion missing from the government. I said, it’s a modified hangout they’re trying to, because in fact the number at that point was 4 trillion. I said, they’re just trying to get ahead of your story on Friday. She said nothing’s gonna stop this story from going. Now big mistake to ever say that. Tuesday morning she calls me back and she said, planes flew into the World Trade Centre. And she said, we’re being attacked. I said, no, we’re not. They’re destroying all the records, you know, because all the records of the financial fraud related to them. So the missing money at that point was $4 trillion dollars. All the financial fraud was in building number seven and at the Pentagon. The office they hit at the Pentagon was the office that was doing the investigation on the missing money. So I said, no they’re not, you know, they’re blowing up, this is what happens. Whenever you have huge financial frauds, the buildings with the records tend to blow up. It’s very common practice anyway. So I said, Listen, this has got nothing. And of course, the story gets cancelled. And the DoD gets another 48 million, whatever. Anyway, so I’m sitting there steaming. And it was the first time I wrote a big money article, I wrote something called Cui bono, and published it immediately saying, official story is a bunch of hooey. And, you know, where’s the money? Anyway, so the next day, because you remember, I got the news in church that we’re going to war in the Middle East. I was riding my bike around the town calm and then I realised, ah, prayer service Wednesday night. And I walk into church, and I sit down. And of course, the whole congregation is there because everybody’s obsessed with this whole thing. Meantime, right before I go in, one of my cousin’s farmhands walks up to me and he says, What do you think we think it was the bushes. What do you think? The African American community was much more sort of sceptical. I walk into church and the preacher gets up, and he says, We’re all waiting. And he says, George W. Bush was anointed by God for a time such as this. And I put my head in my hands cos I love my family, I love my community. I thought I started to pray. I said, just, you know, I need divine intervention here because you can’t just mouth off. So I’m just sitting there praying, asking for divine intervention and suddenly my pastor says, Austin, my middle name. What do you think you worked in Washington? And for a pastor at that moment to ask me what I thought that is divine intervention. So I thought, well, yes for help you have to perform. So I took a deep breath. I knew this was going to be expensive. And I said, well, Brother Keith, in my experience, the Bush family is anointed by financial fraud, narcotics trafficking and paedophilia. And the whole church just my cousin’s just went, Oh, God. What are we gonna do? And he looked at me, he was so stunned. And he said, if that’s the case, we’re lost. It’s hopeless. I said, Don’t be ridiculous. We have a governor, his name is God. We don’t need the bushes. People like the bushes and Clinton come and go, we don’t need them. And it was funny. I had a neighbour who really, you know, did not like the Bushes, and she said, yeah. And so that was like two of us. And then it went from there. And what was really interesting is, for about six months, my cousins were putting little yellow flags on me and you know, praying that I didn’t get tarred and feathered. And then when it came out that the National Security Council had known about planes flying into buildings, it really helped because, you know, everybody kind of felt well, we didn’t go, we didn’t buy into the narrative, you know, and so.

Robert Cibis 26:14
But how did the priest know about the war?

Catherine Austin Fitts 26:19
Well, that’s very good question and I’ve never put him on the spot and asked, but what I’ve found is that on the church networks, there’s a, you know, in the campaign, we used to call it a fax back service. And whether through the TV or their, you know, networks, you know, there is encouragement of what the spin this week is going to be, what the topic this week is going to be, what the you know, and it’s remarkably coordinated.

Robert Cibis 26:49
That’s impressive.

Catherine Austin Fitts 26:50
Yeah.

Robert Cibis 26:50
So this is like more than 20 years now.

Catherine Austin Fitts 26:52
Yeah, but if you look at the control, cos I’ve studied, the litigation forced me, so I litigated with the Department of Justice for 11 years, and I dealt with very serious harassment, physical harassment, legal harassment, financial smear campaigns. And it enabled me to really study what are the nuts and bolts of control and how do they work? And I think it’s not generally appreciated. Snowden and Bill Binney and other people have tried to explain, but the digital surveillance systems have given the leadership the ability to use AI and software to basically track and manipulate every person, one person at a time. The smartphone technology, combined with telecommunications has given incredible power to, you know, to control and management. It’s quite extraordinary. And if you really study, you know, what Bill Binney and people like that have said about the NSA and the digital infrastructure, you can appreciate it, but until you sort of wrestle with it, it’s hard to understand. I did a series on the Solari report called Deep State Tactics, just kind of [to] help people understand how these systems work.

Robert Cibis 28:12
This week in September 2001 was quite crucial.

Catherine Austin Fitts 28:16
So that’s when everybody finally realised, okay, what she’s saying about the missing money is true.

Robert Cibis 28:23
I see.

Catherine Austin Fitts 28:23
Right.

Robert Cibis 28:24
So in fact, the 911 attacks showed you were right.

Catherine Austin Fitts 28:29
Yeah. But still, you know, still no one wants to deal with it.

Robert Cibis 28:34
I mean, 4 trillion. I mean, how did you get this number?

Catherine Austin Fitts 28:38
I got it from government documents.

Robert Cibis 28:41
You just made the math of like, why is going on

Catherine Austin Fitts 28:43
So every year they’re supposed to publish financial statements, and they publish a financial statement and they say, I’m grossly oversimplifying, we’re not going to publish audited financial statements. We can’t publish audited financial statements because we have X trillion of undocumentable adjustments. Okay. So, every –

Robert Cibis 29:03
Wow –

Catherine Austin Fitts 29:03
Right, exactly, so that I thought this was very important, because my feeling is, you know, what they’re doing essentially is stealing all the boomers retirement money before the boomers need it. You know, so it won’t be there. Anyway, so finally, we got the missing money magazine story that was supposed to come out that week to come out for six months later, and it came out but everyone was so busy making money on the new flush of money. Anyway, so money continued to go missing and I kept tracking it. And then in 2015, the primary defence contractor who had run a majority of the systems where the money was disappearing, spun their IT division, their government IT division off to a new company, and I said, cut and run. Anyway, but they announced for 2015 $6.5 trillion missing, which is the biggest number yet. So I get on,

Robert Cibis 30:06
They announced, did they really say it. And whose saying it?

Catherine Austin Fitts 30:10
They publish a 200 page financial statement, it is the single most boring document you will ever read –

Robert Cibis 30:15
The US government, you mean?

Catherine Austin Fitts 30:17
Yeah. And in the footnotes, it says there’s 6.5 trillion of undocumented {inaudible).

Robert Cibis 30:21
(Inaudible).

Catherine Austin Fitts 30:21
Well, but nobody reads it, nobody in public, you know, so, but because I have a group of people who look at these things, and I’m inter, you know. So one of, in fact, it was one of my subscribers who was reading the financial statements and said, there’s six point , you know, that’s how I found it. So, I started doing radio shows saying, you know, it’s a cut and run, this is bad, because the coup is reaching a culmination and this is going to turn into a major change in control. Anyway, so I’m trying to warn people, and so this professor from Michigan State University, hears me talking. And he says, Well, she can’t possibly be right, she must have made a mistake. So he gets on, and he looks at the financial statements and realises I’m right. So he comes to me, and he said, Can I help? And I said, Yeah, one of the things you could do is you could go back and do a survey from 1998 to 2015. He had a lot of graduate students helping him. And I said, let’s do a survey and and make sure we have a complete documentation just at these two agencies as to what’s missing –

Robert Cibis 31:34
What like the Department of Defence?

Catherine Austin Fitts 31:35
It’s the Department of Defence, which is missing 20 trillion.

Robert Cibis 31:40
Twenty, did you say 20?

Catherine Austin Fitts 31:41
Twenty trillion.

Robert Cibis 31:42
Okay, I’m just, I’m happy I’m sitting. Okay, and the other department?

Catherine Austin Fitts 31:48
And the other department is the Department of Housing and Urban Development, which is a big mortgage insurance portfolio, and with very big money, so they’re missing about three quarters of a trillion. Okay. So we did a complete survey and he wrote a report, and we published all the documentation. You know, it’s all government documentation, this is all their numbers, and then he wrote a sort of a report on a review. And it was basically confirming what I’ve been saying, but it was much more thorough, much more complete much more, you know, and I think it’s important in situations like this, you need multiple people checking and saying, you know, that sort of independent verification. So we published that, and I had said to him, I don’t want to publish this until I have multiple copies of these documents on multiple servers around the world. And he thought I was paranoid. Just like, okay, well, you know, whatever you want to do. Anyway, so we publish it and suddenly two officers, one at HUD and one at Department of Defence, take down the documents, and he couldn’t believe it. He was in shock. Then we did a series of radio shows and caught them lying on a couple of different points anyway. So he went through this gradual education process, because if you’re a very successful established Professor of Economics, it’s hard for you to fathom that this is really true, you know. So anyway, so we go through a process, there was a very suspicious fire immediately at the New York Fed on a Saturday night. Apparently, somebody had been using the old fireplace in the basement. Burning records, I presume. Anyway, so you know, so there are all these strange things that go on, but we continued and what happened, the next thing that happened was the Senate and the House, both Republican and Democrat, and the Trump White House, all agreed in 2018 in a very quiet way, that they were going to adopt a administrative policy called Federal Accounting Standards Advisory Board statement 56 that stated that by a secret process, a secret group of people could keep as much as they wanted of all the agencies and related agencies and companies secret and they didn’t have to tell anybody. Now that’s a violation of the Constitution [and] all the financial management laws. And it’s not adopted by legislation. It’s adopted by an Administrative Agreement. By just okay, we agree, we don’t have to obey any financial laws, period, and we’re not going to. End of discussion, and it’s all legal. And that was their way of resolving the fact that they had more and more undocumentable adjustments. They have now stated that the adjustments are up to $96 trillion dollars. But that is they haven’t specified that that’s undocumentable. So that number is essentially meaningless. So clearly the number is higher than 21 trillion now, but we have no idea what it is.

Robert Cibis 35:18
So why do we call this a coup d’etat?

Catherine Austin Fitts 35:22
It’s a financial coup d’etat, what they decided to do. The G7 nations have run a financial system, which is a balance of power between the elected representatives who basically allocate the tax money, that’s fiscal policy, and the private bankers who run the central bank and monetary policy, and it’s a balance of power between them. And this was the process by which they bankrupted the government, shifted the assets into their control, and basically put the electorate system in a position where the central banks could control all of fiscal policy because you were dependent on the central banks to finance your debt. And, you know, the electorate, or the election representatives were in a financial trap with the debt entrapment. So this has been a 20 year process of the central bankers taking control of the whole system, and doing it in a way where they can delink the US dollar reserve currency and globalise it. So you’re globalising the Treasury, you’re globalising the military and you’re globalising the aspects that the civil service run that you want. You’re sort of, think of this as neurosurgery, you’re separating out a part of your brain and moving it into global governance.

Robert Cibis 36:58
Okay, I think we have to slowly, slowly get through this. Different questions coming up in my mind listening to you. The first one is, of course, are these just people who want to have a nice time and sit on the swimming pool? Right. Yeah. And just want to have as much money as possible, because we now agree it is unlimited. Is it for some people to become as rich as possible? Or is it to really have a power structure, which is parallel and undocumented?

Catherine Austin Fitts 37:29
It’s a governance, it’s a strategic, it’s a governance structure that has strategic goals. And everything is organised around those strategic goals. And it’s much more driven by risk management than by greed.

Robert Cibis 37:45
Okay, that’s a clear answer. Just could you give an example on how just people think?

Catherine Austin Fitts 37:54
I would say, so let’s get inside Mr. Global’s head. Mr. Global has a very difficult job. That’s the first thing you need to understand. This is not a fun or easy job. It’s a very high pressure job. And part of it, part of the reason it’s high pressure is you’ve got a growing global population. And you’ve had for 500 years a model called central banking warfare. And up until the time you globalised in the mid 90s, it was relatively simple, which is the G7 central bank’s print money. The military makes people take it. And by extracting natural resources cheaply from the third world, you live a nice life in the first world. Okay, that’s sort of the model.

Robert Cibis 38:45
Alread, here the role of the military is difficult for me also to figure I mean, why does the money go through the military? Or why is there a link to it?

Catherine Austin Fitts 38:53
No, it doesn’t go through the military, the military make sure people take it. In other words, if I just print money out of thin air, you know, so let’s say, okay, I make a dollar $1, right? And here’s my dollar. And I, you know, I want you to give me, I don’t know, you know, I want you to sell me your watch for $1. And you’re like, well, this is a worthless piece of paper, why should I take it? But if I have a gun, you might consider, you know, taking it particularly if my gun encourages everybody else to take it. You know, it’s back to the John Maynard Keynes in the beauty shop. So for example, when the dollar became the reserve currency at the end of World War Two, it was because of the Bretton Woods system, the US Navy controlled the global ceilings, and unless you’re play ball in the dollar system, you know, your boats might not get through, right. So the military makes sure that everybody plays ball in the system. You know, and it’s both a currency system but also [a] reserve system. So you’re holding dollars in your sovereign wealth fund or your, you know, your reserve funds at your treasury or central bank. So they, you know, the US and the Anglo American Alliance, were able to build up a system that everybody said, okay, we’ll all play. And the beauty of the dollar system at the end of World War Two with the Bretton Woods system is, we made it an open model. And so it was really to everybody’s benefit to play, and that built up an enormous flow and liquidity in the dollar. And one that’s very hard to replace. So the, you know, one of the great quotes on the dollar in 2013 at the end of the fiscal crisis, it’s dominant, but dangerous. And it had such a huge market share both in reserves and in trade, thanks to the US military, in no small part. You know, everybody sort of had to play within the dollar system, because there really were no alternatives. And one of the sort of tensions and squabbles between Europe and the US was when the Euro started it started to become a real threat and taking market share from the dollar. And of course, then we had austerity and the financial crisis. And interestingly enough, dollar back to number one.

Robert Cibis 41:18
So incinerating that the austerity measures with Southern European countries were to weaken the Euro?

Catherine Austin Fitts 41:27
Well, here’s what’s interesting. At the end of the financial crisis, there was huge amounts of fraudulent paper in the system. And the Americans took all that fraudulent paper from the American banks and stuck it back to the taxpayer. In Europe, you stuck back much less to the taxpayer. And the banks continued to struggle, and it gave, you know, in the ongoing financial coup, I believe it gave a tremendous advantage to the Americans.

Robert Cibis 42:02
We are in 2018, this is where you say is a turning point?

Catherine Austin Fitts 42:08
Right, and I’ll tell you what the turning point is.

Robert Cibis 42:10
Right.

Catherine Austin Fitts 42:11
If you steal everybody’s retirement savings, when they start to retire, then you have to do something, because the money’s not there. It’s not there for health care. It’s not there for pensions, it’s not there for the infrastructure of a society. You know, you’ve basically 20 years ago, you said we’d rather have spaceships and a space programme than nursing homes. We’re not going to pay for all that stuff. So now you need a story to explain why all the promises you’ve made can’t be kept. You need a story?

Robert Cibis 42:49
Yeah, I kind of feel like you’re going to.

Catherine Austin Fitts 42:52
Well, the first thing you need is you need a new financial system, because you’ve levered up the the government’s, the sovereign governments, and they’ve lost their sovereignty, so now you have control and you can change, you can do a change of control. But you need to re engineer the –

Robert Cibis 43:10
Why you can’t you just print more money?

Robert Cibis 43:12
Well, in theory you can, but there are enormous tensions now globally. You have instead of this model where the first world is subsidised by the Third World, you’ve globalised and now you have economies around the world that are growing much faster than the G7 nations. And they’re becoming much more important and powerful operationally. And so you, the question is, where’s your subsidy going to come from, there needs to be a reallocation. And one of the ways you’ve kept the reserve currency going is by weaponizing the dollar with financial sanctions and the problem is you can’t use a currency that’s a weapon to also do trade. You know, the guys who want to do real trade are saying, look, you know, we need a more dependable stable system to trade. So there are enormous tensions, and you need to reconfigure the reserve currency. Now, you can change the reserve currency, but you can also delink the reserve currency from the United States political infrastructure, globalise it which is what FASB 56 and these other things are, and then just reconfigure the governance.