The Housing and Economic Recovery Act of 2008:
An Analysis by Catherine Austin Fitts
~ Click here for the full article.
If there is to be any blessing in this housing bill, perhaps it will be to so offend, so disgust those of us who are awake that the process of withdrawing from the old and reinvesting in the new models will accelerate. And maybe the smartest and most creative among us will be willing to invest the time and energy it takes to reinvent a model that incorporates what we like to think are traditional American values. These are the values that are enduring and make us proud to be Americans still. There is no hint of these values in the housing bill. There is, however, an abundance of them in the hearts and minds of the people.
- Housing Bill, Part I – Overview
- Housing Bill Part II – Nation State or Investment Syndicate?
- Housing Bill, Part III – Your House Is Bigger than My House
- Housing Bill, Part IV – The Profits of Playing Ball
- Housing Bill, Part V – Where Is the Collateral?
- Housing Bill, Part VI – The Tapeworm Corporation Comes Out of the Closet
- Housing Bill, Part VII – Andrew Cuomo Owes Us $5 Trillion
- Housing Bill, Part VIII – The Two Great Financial Mysteries of Our Time: Missing Money and Collateral Fraud
- Housing Bill, Part IX – In the Destruction of the Old, Let There Be the Creation of the New
Catherine Austin Fitts served as Assistant Secretary of Housing and Federal Housing Commissioner in the first Bush Administration. Her company Hamilton Securities Group served as lead financial advisor to the Federal Housing Administration during the Clinton Administration. She is a former managing director and member of the board of the Wall Street investment bank Dillon, Read & Co. Inc.
Is it too late or pointless to start alternative currencies? As they did in Austria in 1932?Just wondering your opinion
thanks
Dear Ms. Fitts,
When I first started reading the web site, World Reports.org, by Christopher Story, I thought of you. If our government had listened to your advice, we certainly would not be bailing out Fannie & Freddie now. And, you, would be a much better presidential candidate than any of the ones in the final run.
Sincerely,
Bob Johnston
The article contained this sentence:
“If the currency and monetary systems had been run in the manner envisioned by the founding fathers rather than by private bankers, we would not have any debt.”
The Founding Fathers did not “establish a manner”. What is wrong with the “running of the currency and monetary system” is two-fold.
1. The “profit interest” is siphoned off into the “pockets of the private owners” of the Federal Reserve instead of continuing to circulate in a closed system.
2. The profligate-spending federal government has been allowed (by Congress) to incur debt unsecured (unlike the private sector).
The Solution? A little bit of reading will expose one to it at http://groups.yahoo.com/group/whoru/
The result: Elimination of ALL taxation and the funding of all four levels of government with the interest generated by the voluntary private sector borrowing.
“Government” would still have the funding it needs to function.
The cascade of beneficial changes would be make for Abundance and Prosperity.
“Taxation” is a euphemism for armed robbery.
Why isn’t this crisis being used as an opportunity for the government to embark on much needed banking reform? I see this as just more of the same, Federal Reserve creating money from thin air, giving it to the Treasury in return for Treasury Bonds to buy the garbage stewing at Fan and Fred in return for Preferred Stock and Warrents of Fran and Fred. Sticking the citizens of the US with the Treasury debt owned by the Fed. If Dodd as Senate Banking Chairman or Frank as Senate Finance Committee Chairman had any fresh ideas and a little bit of spinal column, they would be requesting that congress creates the financing directly and the Federal Reserve Bank be thrown under the bus along with the repeal of the Glass Stegall Act. The Federal Reserve Bank should be giving congress bonds for dollars created by congress when the banking system needs injections of capital. Bank issued bonds owned by Treasury as an asset of the people in exchange for congress created dollars. What we have now are dollars created by a private central bank borrowed by congress in exchange for Treasury Bonds as a liability of the people. This is debt slavery and not the freedom that we all believe in, fight for and stand for. What’s the matter with our leaders, don’t they get it?
Catherine
Visiting your web site and reading your commentary has opened my eyes to the corruption that exists in our government and this nation’s financial institutions and the damage that has resulted from their collusion and manipulation. Your advocacy for a return to community based banking makes sense to me.
During the time that I have become an avid follower of your web site and articles, I am increasingly concerned about what has been happening to our economy, which I now fear is on the verge of collapse after hearing another expert observer say that an “Economic 9/11” is about to hit this country.
Just as I first learned of you by listening to you being interviewed by Ian Plunkett on the Coast to Coast radio program, I learned of Trends Research Institute (www.trendsresearch.com) founder and director Gerald Celente, who was recently interviewed on the program by George Koury.
Mr. Celente, a self described political atheist who authorded the books Trend Tracking and Trends 2000 and has been the “go to guy” for network and cable news programs when their programs call for an informed credible take on emerging trends, has for the past 29 years analyzed current events to accurately forecast emerging social, economic and political trends in The Trends Journal – the quarterly newsletter he edits and publishes from Rhinebeck, New York. From predicting the boom in gourmet coffee in 1988 to the economic collapse of the Soviet Union two years prior to the event to the Dot.com bust to the stock market crash of 87 to the run up in the price of gold (2002) to the turmoil of 08, Mr. Celente has a long list of predictions based on current events that have proven to be accurate.
Do you know of Mr. Celente and his Trends Research Institute? If so, what do you think of his prediction that between now and 2012, the global financial system will melt down? In The Trends Journal’s Winter 08 issue it’s written, “Just as the Twin Towers collapsed from the top down so too will the US economy from an Economic 9/11…when the high stakes speculators, banks, brokerages and buyout firms that leveraged billioms with millions get hit…everything beneath them will turn to rubble. When the giant firms fall, they’ll crush the man on the street.”
I would appreciate hearing your response.
Thank you for all that you do. I hope to hear you speak one day in person.
Best Regards
GP3
Sioux Rose:
I recorded this to provide an overview:
http://solari.com/store/audio-seminars/positioning_your_assets/
Each situation is unique, so it would be inappropriate for me to try recommend specifics to you,
Catherine
The state and local rules are fairly restrictive. Seems to me that there are options even within them but it will involve some creativity and municipalities organizing together. Oddly enough, the best credit for many right now would be to team up with local banks and use some of the reserves to keep liquidity going locally. Without local liquidity, there will be no tax flow….