Sunday, June 18, 2006

Catherine Austin Fitts

speaking of missing trillions, from damien in the comments:
It's not all Plame and Sibel. For those who love their conspiracies:

Catherine Austin Fitts(CAF) is a former Assistant Secretary of Housing for GHW Bush. She managed $300 billion of insurance, mortgages and properties for the FHA and was fired for uncovering $3.4 trillion of US government accounts fraud (link).

She then went on to start an investment company Hamilton Securities in 1990 after leaving HUD and in 1993 secured contracts with them for the repackaging and resale of defaulting HUD housing mortgages. According to CAF, she saved the US taxpayers billions of dollars. But she had inadvertently trampled on someone else's very lucrative earner.

HUD had been designed to get poor (mostly black) people into public housing and there was the usual over-billing and corruption practices going on. But CAF had devised software for Hamilton Securities that suddenly identifed unusual patterns of defaults on HUD mortgages in housing areas in which the CIA had admitted to facilitating cocaine trafficking by Iran Contra supporters. It seems the same people who were pushing the drugs in particular areas were cleaning up by cheap insider purchases with HUD when the drug users defaulted on their mortgages.(link) (link)

This made CAF the subject of harassment and the full range of drummed up DOJ and HUD investigations. She came up clean but was no longer eligible for any government work.

CAF also has some good stuff on the reliance of the US economy on drugs trafficking and gives a fascinating account of a July 1999 meeting in Colombia between NYSE Chairman Richard Grasso and warlord/drugs trafficker Raul Reyes of the Revolutionary Armed Forces of Columbia (FARC). Grasso was basically seeking assurances from Reyes on drug supplies in order to hold up the US financial markets! (link) (nice pic)

According to CAF, decriminalising drugs would gut the narco industry of its profits and bring on a massive financial meltdown. She is also prominent in the 9/11 Truth movement, has some interesting stuff to say about Enron, and has a blogsite. (link) (link)
egads!

update from damien in the comments below:
Catherine Austin Fitts turned down an offer to a Governor of the US Reserve Bank - so she knows her financial onions. According to her, the US economy is being trashed. I recommend this even if you can't get to the rest.

Quote:
Last year we appropriated $87 billion for Iraq, but the administration has repeatedly says it can’t explain where half of that money is going.

... We’ve had a complete implosion of internal financial controls in the governmental apparatus. $3.3 trillion missing from government is a financial coup-d’etat. You can keep a bubble going as long as you can finance it. And my guess is, again very much credited to Bill Murphy, what we’re watching is a securities operation both with the Federal agencies, the mortgage agencies, and the U.S. Treasury, which are financing a political economy. The money that comes in from those debt operations are being used for other than their lawful purposes.

....We’re running the economy to centralize wealth. We’re using what I call a negative return on investment Governmental apparatus, both the budget and the credit and regulation, to centralize bank deposits, centralize purchases, centralize investments. We’re centralizing political and economic power.

.... And if you study the black budget, increasingly what you’re seeing is that money is going to support private corporations and private banks who are using those resources to basically steal community assets out from under them. So you’re basically financing an operation which is stealing all your political powers and economic wealth. It’s a dream.
Unquote.

Austen Fitts forsees global depression worse than 1929!
egads, again.

fucking kleptocrats.

(thnx damien)

1 comment:

damien said...

Catherine Austin Fitts turned down an offer to a Governor of the US Reserve Bank - so she knows her financial onions. According to her, the US economy is being trashed. I recommend this even if you can't get to the rest.

Quote:

Last year we appropriated $87 billion for Iraq, but the administration has repeatedly says it can’t explain where half of that money is going.

... We’ve had a complete implosion of internal financial controls in the governmental apparatus. $3.3 trillion missing from government is a financial coup-d’etat. You can keep a bubble going as long as you can finance it. And my guess is, again very much credited to Bill Murphy, what we’re watching is a securities operation both with the Federal agencies, the mortgage agencies, and the U.S. Treasury, which are financing a political economy. The money that comes in from those debt operations are being used for other than their lawful purposes.

....We’re running the economy to centralize wealth. We’re using what I call a negative return on investment Governmental apparatus, both the budget and the credit and regulation, to centralize bank deposits, centralize purchases, centralize investments. We’re centralizing political and economic power.

.... And if you study the black budget, increasingly what you’re seeing is that money is going to support private corporations and private banks who are using those resources to basically steal community assets out from under them. So you’re basically financing an operation which is stealing all your political powers and economic wealth. It’s a dream.

Unquote.

Austen Fitts forsees global depression worse than 1929!