In light of recent events, I am republishing.]
By Catherine Austin Fitts
In the fall of 2001 I attended a private investment conference in London to give a paper, The Myth of the Rule of Law or How the Money Works: The Destruction of Hamilton Securities Group.
The presentation documented my experience with a Washington-Wall Street partnership that had:
- Engineered a fraudulent housing and debt bubble;
- Illegally shifted vast amounts of capital out of the U.S.;
- Used “privitization” as a form of piracy – a pretext to move government assets to private investors at below-market prices and then shift private liabilities back to government at no cost to the private liability holder.
Other presenters at the conference included distinguished reporters covering privatization in Eastern Europe and Russia. As the portraits of British ancestors stared down upon us, we listened to story after story of global privatization throughout the 1990s in the Americas, Europe, and Asia.
Slowly, as the pieces fit together, we shared a horrifying epiphany: the banks, corporations and investors acting in each global region were the exact same players. They were a relatively small group that reappeared again and again in Russia, Eastern Europe, and Asia accompanied by the same well-known accounting firms and law firms.
Clearly, there was a global financial coup d’etat underway.
The magnitude of what was happening was overwhelming. In the 1990’s, millions of people in Russia had woken up to find their bank accounts and pension funds simply gone – eradicated by a falling currency or stolen by mobsters who laundered money back into big New York Fed member banks for reinvestment to fuel the debt bubble.
Reports of politicians, government officials, academics, and intelligence agencies facilitating the racketeering and theft were compelling. One lawyer in Russia, living without electricity and growing food to prevent starvation, was quoted as saying, “We are being de-modernized.”
Several years earlier, I listened to three peasant women describe the War on Drugs in their respective countries: Colombia, Peru, and Bolivia. I asked them, “After they sweep you into camps, who gets your land and at what price?” My question opened a magic door. They poured out how the real economics worked on the War on Drugs, including the stealing of land and government contracts to build housing for the people who are displaced.
At one point, suspicious of my understanding of how this game worked, one of the women said, “You say you have never been to our countries, yet you understand exactly how the money works. How is this so?” I replied that I had served as Assistant Secretary of Housing at the US Department of Housing and Urban Development (HUD) in the United States where I oversaw billions of government investment in US communities. Apparently, it worked the same way in their countries as it worked in mine.
I later found out that the government contractor leading the War on Drugs strategy for U.S. aid to Peru, Colombia and Bolivia was the same contractor in charge of knowledge management for HUD enforcement. This Washington-Wall Street game was a global game. The peasant women of Latin America were up against the same financial pirates and business model as the people in South Central Los Angeles, West Philadelphia, Baltimore and the South Bronx.
Later, courageous reporting by several independent investigative reporters confirmed in detail that the privatization and economic warfare model I discussed in London had deep roots in Latin America.
We were experiencing a global “heist”: capital was being sucked out of country after country. The presentation I gave in London revealed a piece of the puzzle that was difficult for the audience to fathom. This was not simply happening in the emerging markets. It was happening in America, too.
I described a meeting that had occurred in April 1997, more than four years before that day in London. I had given a presentation to a distinguished group of U.S. pension fund leaders on the extraordinary opportunity to re-engineer the U.S. federal budget. I presented our estimate that the prior year’s federal investment in the Philadelphia, Pennsylvania area had a negative return on investment.
We presented that it was possible to finance places with private equity and re-engineer the government investment to a positive return and, as a result, generate significant capital gains. Hence, it was possible to use U.S. pension funds to significantly increase retirees’ retirement security by successfully investing in American communities, small business and farms — all in a manner that would reduce debt, improve skills, and create jobs.
The response from the pension fund investors to this analysis was quite positive until the President of the CalPERS pension fund — the largest in the country — said, “You don’t understand. It’s too late. They have given up on the country. They are moving all the money out in the fall [of 1997]. They are moving it to Asia.”
Sure enough, that fall, significant amounts of moneys started leaving the US, including illegally. Over $4 trillion went missing from the US government. No one seemed to notice. Misled into thinking we were in a boom economy by a fraudulent debt bubble engineered with force and intention from the highest levels of the financial system, Americans were engaging in an orgy of consumption that was liquidating the real financial equity we needed urgently to reposition ourselves for the times ahead.
The mood that afternoon in London was quite sober. The question hung in the air, unspoken: once the bubble was over, was the time coming when we, too, would be “de-modernized?”
In 2009 — more than seven years later — this is a question that many of us are asking ourselves.
Part II: Rethinking Diversification
Related Reading:
Dillon, Read & Co. Inc. and the Aristocracy of Stock Profits
Soros, the so-called billionaire philanthropist, is probably busy starting another “color revolution”, in the tradition of Jewish financiers who financed Hitler and Lenin.
“He brings down governments via subversion, moral rot and revolution through financial patronage, akin to what Jacob Schiff the New York banker did to Russia through the funding of revolutionary propaganda.1 However Soros’ revolutions are far more widespread than that of Schiff.”
http://www.rense.com/general83/soros.htm
It would appear that Mr. Soros is proposing to lead us into the next “fix.”
https://futurefinance.wsj.com/participant.php?bio=35
where is george soros now?
Great thread! No one has answered the question “Who’s behind this?” I’ve always heard it was Soros.
http://www.anti-communistanalyst.com/12222004.html
Catherine’s recommendation to watch Captains and the Kings early on in this thread sent me to my public library where I checked out (and am currently reading) Taylor Caldwell’s novel.
In case it’s useful, I’m posting here what Caldwell says in her introduction, as well as the pieces she lists in her bibliography (this is the first novel I’ve come across that contains a biliography!). Many commenters have asked for names; perhaps some of Caldwell’s sources can satisfy your curiosity.
“There is indeed a ‘plot against the people,’ and probably always will be, for government has always been hostile towards the governed. It is not a new story, and the conspirators and conspiracies have varied from era to era, depending on the political or economic situation in their various countries.
But it was not until the era of the League of Just men and Karl Marx that conspirators and conspiracies became one, with one aim, oneobjective, and one determination. This has nothing to do with any ‘ideology’ or form of government, or ideals or ‘materialsm’ or any other catchphrases generously fed to the unthinking masses. It has absolutely nothing to do with races or religions, for the conspirators are beyond what they call ‘such trivialities.’ They are also beyond good and evil. The Caesars they put into power are their creatures, whether they know it or not, and the people of all nationas are helpless, whether they live in America, Europe, Russia, China, Africa, or South America. They will always be helpless until they are aware of their real enemy.”
I do not agree with that final statement of Calwell; love is more powerful than fear. There is no more powerful force in the universe.
Here is the bibliography:
Allen, Frederick Lewis: Morgan the Great, LIFE magazine, April 25 1949
Bryan, William “John”: The United States Unresolved Monetary and Political Problems
Budenz, Louis: Bolshevik Invasion of the West
Courtney, Phoebe: The Council on Foreign Relations
Dall, Curtis: FDR, My Exploited Father-in-Law
DeGoulevitch, Arsene: Czarism and the Revolution
Flynn, John: Men of Wealth
Forbes, B. C.: Men Who are Making America
Gitlow, Benjamin: The Whole of Their Lives
Gorseclose, Elgin: Money and Man
Hansl, Proctor: Years of Plunder
Huddleston, Sisley: The Tragic Years
Hull, Cordell: Memoir
Lundberg, Ferdinand: America’s 60 Families
Mises, Ludwig von: Human Action
McFadden, Louis T: On the Federal Reserve Corporation, Remarks in Congress
Myers, Gustavus: History of the Great American Fortunes
National Economy and Banking System, Senate Documents, Volume 3, No 23
Noyes, Alexander Dana: The Market Place
Papers Relating to the Foreign Relations of the United States–Russia, House of Representatives,
Document No. 1868, Volume 1
Patman, Wright: Newsletter, June 6, 1968, also congressional record, March 21, 1962
Quigley, Carroll: Tragedy and Hope
Rothbard, Murray: Economic Depressions, Causes and Cures
What has Government Done to Our Money?
Senate Silver Hearings– Testimony of Robert L. Owen
Seymour, Charles: The Intimate Papers of Colonel House
Sparling, Earl: Mystery Men of Wall Street
Spengler, Oswald: Decline of the West
Sutton, Antony: Western Technology and Soviet Economic Development
Viereck, Geroge: The Stragest Friendship in History
Warburg, James: The Long Road Home
Warburg, Paul: The Federal Reserve System
White, Andrew: Fiat Money INflation in France
Especially Recommended:
Allen, Gary: C.P.R. Conspiracy to Rule the World
The Bankers and teh Federal Reserve
Skousen, W. Cleon: The Naked Capitalist
Report from Iron Mountain
Here is a link to Report from Iron Mountain:
http://www.projectcamelot.net/Report_from_Iron_Mountain.pdf
I was hoping to get some comments/replies on the question I posted about 3 weeks ago: “Why is Israel the one common thing on which the MOTU and its slaves have absolute agreement?” The MOTU or the Global Elite never seems to have a conflict over its support for Israel or the Zionist ideology which controls this country and Europe.
Israel is based on a LIE:
http://www.rense.com/general83/schol.htm
the most parasitic group are th eenglish race and all evil leads to england if you examine closely.
the jews are just a small cog in the wheel of anglosaxon thuggery since 1650s but the english have been parites from a date much earlier than that.
just kill some prominent enlgihs bastards and theirstooges like kinnsinger, like editors of most of the enlgish media.
for gods sdake the english have ruined even al jareeza sicne that english abstard frost was rbought in.
31st jan.2007.
it is very important to realize and understand the trickery of the english race in manipulating usa to wage wars on behalf of britain which gains most from Iraq war and any war that usa imposes on the third world and even on Europe.
Here are some of the writings done years ago to give a global picture of what is REALLY happening in the world and by WHOSE agency.
The modus operandi of Britain is to make country and regions unstable and install british stooge with explicit instruction to bring the money -looted ones -to Britain from where it is not going to go anywhere else.
Some oligarch Jews (like thee criminal U.K.-based fugitive oligarch Boris Berezovsky)
were the stooge of British in Russia and they brought so many ill gotten money to uk. So did the Kuwaitis-who brought 4 billions of pounds within a week of first Iraq war problem in august 1990 -so has continued the massive loot of the rest of the world by the English .race through this money protection racket . It is money protection racket in the sense that those eliete’s money is protected only when it is made to be lodged in British London banks. The witness, who appeared on the Rossiya channel with his face hidden and was referred to as Pyotr, accused 61-year-old Berezovsky of killing Alexander Litvinenko because the former security officer knew how the exiled tycoon had obtained political asylum in Britain in 2003. This thief boris berezosvky is a terrorist as well who calls for violet end to Putin-the president who is one of the most loved of his countrymen compared to any in the world.
As someone said “We live in a world where criminals are good guys and patriots are villains: where Berezovsky is a liberal “human rights” activist and Putin is a moral monster.” that putin who is one of the most popular leader of any in the world.
In fact Britain is running a protection racket in the world through the help of american army-(because Britain is a third rate country with fourth rate army so it cannot do it on its own).
What Britain does is let the other countries be made instable (Kuwait, Iraq, Saudi Arabia, Afghanistan etc) then let the british stooge be installed there-those people who have no following in own country and with strict instruction to those stooges that they will bring the money to britan,-that is how London has enriched itself in last 15 years after fall of soviet union. Billions of soviet money have flown illegally to London and the british court -kangaroo court if ever there was any -have not let the money go citing “it will harm england’s balance of payment”?
That is why british media gets incensed if the traitors like soviet spies are not left safe in Britain -because then the whole business of protection money racket and money that Britain gets is in jeopardy. That is what explains influx of foreign money to London and how London has overtaken new York in stock market. Forget about service industry -british are the most ill mannered race what service can they provide except protection racket on back of american arms? Britain is looting even usa. Through it is usa which has worked hard (through illegal invasions ) to make other countries unstable so that Britain can get money from protection of stooge elites of those countries..
the modus operandi of Britain is to make country and regions unstable and install british stooge with explicit insturction to bring the money -looted ones -to Britain from where it is not going to go anywhere else.
Some oligarch jews were the stooge of British in Russia and they brought so many ill gotten money to uk. So did the kuwaits-who brought 4 billions of pounds within a week of first Iraq war problem in august 1990 -so has continued the massive loot of the rest of the world by the English race through this money protection racket . it is money protection racket in the sense that those elite’s money is protected only when it is made to be lodged in British London banks.
“In the aftermath of President Abraham Lincoln’s defeat of the London-backed slave-holders’ Confederate insurrection, the London-linked New York faction of U.S. finance unleashed a predatory looting of the physical assets of the territory formerly ruled by the defeated Confederacy. That operation, which was described then as “carpetbagging,” is a term that pointed to the style of the personal baggage, in which the travelling, locust-like predators carried their personal effects.”
“ When this English edition of Professor Stanislav Menshikov’s book has been printed, Russia’s President Vladimir Vladimirovich Putin will have delivered his landmark May 10, 2006 “state of the union” address. The President’s address will have marked the probable close of what had been the demographically murderous, greatest carpetbagging swindle in history. The carpetbagging which Professor Menshikov’s book describes, is the post-1989 looting of the territory of the former Soviet Union, a looting that, in fact, has also been the predatory ruin of most of the East European territory of the Comecon outside Russia then and now.”-from