Community | September 16, 2011 | 7 comments

Catherine Austin Fitts : Deliberate Implosion of the U.S. Economy

source: http://www.youtube.com/watch?v=IHTs6NqhHHg

Vierotchka
Former Assistant Secretary of Housing under George H.W. Bush Catherine Austin Fitts blows the whistle on how the financial terrorists have deliberately imploded the US economy and transferred gargantuan amounts of wealth offshore as a means of sacrificing the American middle class. Fitts documents how trillions of dollars went missing from government coffers in the 90's and how she was personally targeted for exposing the fraud.

Fitts explains how every dollar of debt issued to service every war, building project, and government program since the American Revolution up to around 2 years ago -- around $12 trillion -- has been doubled again in just the last 18 months alone with the bank bailouts. "We're literally witnessing the leveraged buyout of a country and that's why I call it a financial coup d'état, and that's what the bailout is for," states Fitts.
  1. groups:
    Community,   KB723's Den of Iniquities,   Business News & Analysis
  2. tags:
    Politics,  Economy,  US Economy,  Debt
  3. recommended by:
    Vierotchka
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7 comments // Catherine Austin Fitts : Deliberate Implosion of the U.S. Economy // Video

  • sharin
    • +1
      sharin  

    • this is from an article dated October 3, 2008:
      "Catherine Austin Fitts indicates that many of the Fannie, Freddie and FHA loans are actually fraudulent, as the same property is sold repeatedly to phantom buyers or the property does not actually exist. At least $1 trillion of Fannie and Freddie’s mortgages are already in trouble, and the data on mortgage resets indicates the problem will not end until 2012. This bailout effectively doubled America’s publicly traded debt overnight."

      so which is it Catherine? overnight in late 2008 or the year and a half after the bank bailout?

    • 8 months ago
  • thedirtman
    • 0
      thedirtman  

    • "Those guys at Goldman Sachs have not competed based on merit their entire life..."

      I've said that. Money is not earned. It is inherited.

    • 8 months ago
  • RaceBannon
    • 0
      RaceBannon  

    • Great video, I know its off topic but I thought to add something semi relevant.

      just finished reading a discussion with Noam Chomsky about how the fed operated originally with the purpose of eliminating total unemployment but as time went on the goal of the fed shifted to preventing inflation likely due to influences of wealthy financiers. As Chomsky describes the process forces the focus towards keeping wages low for workers and the term "natural unemployment" entered the leading economic circles.

      So when I listen to things like this I'm not the least bit surprised, sadly more cynical.

    • 8 months ago
  • freedomsings
  • KurtLewin
  • rhythmstick
  • KB723
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