“In a digital age, data about money is worth more than money” -Nicholas Negroponte

By Catherine Austin Fitts

This week on the Solari Report, I will present a live seminar called “Unpacking Your Financial Ecosystem.” I will begin at Midnight GMT, 8pm EDT, 7pm CDT, 6pm MDT, 5pm PDT, 8am HKT, 11am AEDT. My presentation will take an hour – questions will add up to another hour, for a total time of up to 2 hours.

I will introduce steps you can take to identify and understand the local, state, corporate and foundation financial flows and assets that impact your finances and local economy. I will focus on US examples. If you are a citizen of another developed country, you should be able to extrapolate information about financial flows and assets within your own national, regional, and municipal jurisdictions.

If you are attending live, make sure you are logged in and able to post in the comment section of this commentary. I would encourage you to post notes, comments, and questions as we proceed.

We will post access information to our webinar URL for subscribers on Thursday morning so make sure to login and check the subscriber links. The audio, referenced links and notes will be included in the subscriber section of this commentary by late Thursday night or Friday.

In Money & Markets this week I will discuss the latest in financial and geopolitical news. Make sure to post or send your questions to Ask Catherine.

In Let’s Go to the Movies, I will review Hidden Figures about three brilliant African-American women who worked at the National Aeronautics and Space Administration (NASA) during the 1950’s Space Race and the successful NASA effort to send John Glenn into earth orbit. It is an inspiring, entertaining cinematic depiction of the importance of meritocracy if we wish to achieve excellence, and to accomplish “the impossible.”

We can all use a refreshing reminder of what can happen in America when we strive for greatness and when excellence and performance determine our leadership rather than criminality.

Talk to you Thursday!

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“Are we witnessing the end of globalization? I don’t think so. It is the end of the ‘global elite,’ those who see the world only from financial centers or a website.” ~ Jeff Immelt, CEO, General Electric

By Catherine Austin Fitts

Franklin Sanders will join me next week for the precious metals market report. Franklin will walk us through what has happened in the gold and silver markets since the election. We will discuss the current correction and how gold and silver prices may be impacted by the Fed decision this coming week as well as by the political changes sweeping through the United States and Europe.

Franklin and I will also address the steps we can take to enforce our US Constitution. These steps include removing legal obstacles to the circulation of gold and silver as money. Enforcing our constitution is what we need most. What do not need  is the current effort to call for a constitutional convention that is working its way through the states. Indeed, we need to aggressively lobby our state legislators to stop it.

In Let’s Go to the Movies, I will review Citizen Architect: Samuel Mockabee and the Spirit of the Rural Studio. The documentary tells the story of Samuel “Sambo” Mockabee, the remarkable American architect who co-founded the Auburn University Rural Studio.

Related reading: http://samuelmockbee.net

I will have plenty to talk about in Money & Markets, so post or e-mail your questions for Ask Catherine.

Talk to you Thursday!

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“The important thing to know about an assassination or an attempted assassination is not who fired the shot, but who paid for the bullet” ~ Eric Ambler

By Catherine Austin Fitts

The Exchange Stabilization Fund (ESF) is a fund managed by the New York Federal Reserve and its member banks acting as agents for the US Secretary of the Treasury. The fund is free of Congressional oversight, with broad authority to intervene in currency, securities, and commodities markets.

The fund was created by the Gold Reserve Act of 1934. The act required that all gold and gold certificates held by the Federal Reserve be surrendered and vested in the sole title of the US Treasury. A 1970 amendment to the act allows the Secretary of the Treasury, with authorization of the President, to use ESF funds to “deal in gold, foreign exchange, and other instruments of credit and securities.”

Long-time Solari Report subscribers are used to hearing me describe the ESF as the “mother of all slush funds.” My favorite reference is at hand, from Christopher Simpson’s excellent book Blowback: America’s Recruitment of Nazis and Its Effects on the Cold War:

“The trail of this tainted money dates back to 1941, when the War Powers Act authorized the U.S.Treasury’s Exchange Stabilization Fund to serve as a holding pool for captured Nazi valuables— currency, gold, precious metals, and even stocks and bonds— seized as the Germans or other Axis governments attempted to smuggle them out of Europe. The captured wealth, which eventually totaled tens of millions of dollars, included substantial amounts of blood money that the Nazis had pillaged from their victims. Indeed, it was precisely this type of criminal booty that overeager Nazis had most frequently attempted to export from Europe.”

“The Exchange Stabilization Fund was authorized to safeguard the portion of the Nazi hoard that had been uncovered and confiscated by the United States in the Safehaven program, which sought to interdict the German smuggling efforts. The official purpose of the fund was to serve as a hedge against inflation and as a bankers’ tool to dampen the effects of currency speculation in the fragile economies of postwar Europe and Latin America.”

“In reality, this pool of money became a secret source of financing for U.S. clandestine operations in the early days of the CIA. The first known payments from the Exchange Stabilization accounts for covert work were made during the hotly contested Italian election. The CIA withdrew about $10 million from the fund in late 1947, laundered it through a myriad of bank accounts, then used that money to finance sensitive Italian operations. This was the “black currency” that Cardinal Spellman asserted was given to the Vatican for anti-Communist agitation.”

This coming week, I will be in Toronto to attend the convention of the Prospectors and Developers Assocation of Canada (PDAC) and visit with Rob Kirby of Kirby Analytics. Rob will join me to discuss the Exchange Stabilization Fund and its role at the intersection of the hidden system of finance, the black budget, and the financial markets. Rob had a successful career in the fixed income and derivatives markets working for global and Canadian financial institutions before starting Kirby Analytics. He is one of the most popular on line commentators today on the financial markets. Rob is particularly knowledgeable about Exchange ESF role in the precious metals markets. As we will discuss, following the gold price suppression and other manipulations in the gold market invariably leads investors to want to learn more about the ESF.

For Let’s Go to the Movies, Rob and I will discuss Eric deCarbonnel’s video briefing, “The ESF and its History.” You can access it on line, starting with Part I here:

Part 2
Part 3
Part 4
Part 5

As always, there is a lot to discuss on the latest developments in the financial markets and geopolitics to in Money & Markets. Please make sure to post or e-mail your questions for Ask Catherine.

Talk to you Thursday!

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Rediscovering Community Wizard

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The Herrenknecht SBM produces blind shafts with diameters of up to 12 meters and depths of up to 2,000 meters.

“I have an eccentric view on commodities not necessarily shared by my colleagues – or by almost anybody. And that is, we’re running out of everything.” ~Jeremy Grantham

By Catherine Austin Fitts

Our theme tonight on Monday & Markets on the Solari Report is “the view from Canada.”

I am in Toronto for a week to attend the spring convention of the Prospectors and Developers Association of Canada.

I took the opportunity to spend time with Rob Kirby of Kirby Analytics – this weeks interview with Rob on the Exchange Stabilization Fund is an amazing deep dive into the hidden system of finance that is engineering wealth into the top 1%.

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