Catherine Austin Fitts is an American investment banker and former public official who served as managing director of Dillon, Read & Co. and, during the Presidency of George H.W. Bush, as United States Assistant Secretary of Housing and Urban Development for Housing. She has widely written and commented on the subject of public spending and has alleged several large-scale instances of government fraud.
This is why you should never buy into the phantom currency (cashless economy) being pushed by global elites.
If you think what Sam Bankman Bankman-Fried pulled off with his crypto currency scam was bad, the government idea of a central bank is far, far worse.
More about Austin Fitts’ and CBCDs at The Defender:
- In 1998, trillions of dollars started to get sucked out of the U.S. government by the central banks. Our retirement funds have been looted and will within just a few years be nonexistent.
- Historically, U.S. intelligence agencies have primarily worked on behalf of the central bankers.
- Central bankers are now putting into place a system that will allow them to extract tax without representation.
- The central bankers, most of whom are technocrats, have created a breakaway society, a parallel society, in which they are above all law and control everything.
- To combat their control system, we must first be able to see it for what it is and realize how it’s being used by us, to our own detriment.
……”I entered a period where I litigated with the federal government for 11 years. The Department of Justice seized all the databases and all the software tools, and I litigated with the federal government. That’s [what] forced me to really dive into how the control systems were working.
“When I was in Wall Street, I saw how the financial control systems worked, but since so much is rigged through the central bank and through government, it gave me a chance to really see how government worked on the covert side, and how that related to Wall Street and Washington.”
……In 1998, trillions of dollars started to get sucked out of the U.S. government, Fitts says. In essence, it was “a coup d’état by financial means.”
She realized then the extent to which our government was siphoning — stealing — the money. “They were stealing everybody’s retirement,” Fitts says.
“Everybody’s going to retire in 20 or 30 years, but they were going to steal the money upfront. So, by the time we got to where we are now, the money would be gone and they could turn to everybody and say, ‘Well, we can’t really afford your retirement.’”
On Wall Street, you have markets and monetary policy run by the central banks, and then you have the electorate, which influences fiscal policy and the government. So, it’s a dual pillar system.
Markets are managed centrally. So, central banks, which control monetary policy, can simply print money, and the military then makes sure the money is taken up, which keeps everything liquid.
“The economic equation is: Can you make more money from printing than you have to spend on the military and making the system go? I’ll give you an example. In the 1980s, we had a period of tremendous monetary expansion.
“In the last year of the decade, in ‘89, there was a huge fight in the Dillon partnership [Dillon, Read & Co Inc.] about how much money should be paid to the traders for bonuses.
“I had a wonderful partner who did a study, showing that … if instead of having traders in the seats, we’d had chimpanzees, we would’ve made more money. It was very interesting because you’d go out to the Hamptons on the weekends and you’d … hear everybody talking about making fantastic amounts of money because they were brilliant and geniuses and smart and clever.
“But it wasn’t [because of their smarts]. It was just simply the monetary policy floating the boats … A lot of the money comes from economic warfare. So, [when] you pump up the dollar, you’re moving money out of the U.S. government. As we’re coming through this big change of globalization, you loan massive amounts of dollars.
“And then all of a sudden you pull all the loans. You throw them into a dead-end trap. You pull the money and then they get a crash. Now your dollar is high. So, you go and buy up everything on the cheap.
“The governance structure that existed before the financial coup was basically: You have the central banks running monetary policy, and then you have the sovereign government running fiscal policy.
“The citizens pay taxes to the sovereign government, and they elect representatives who have something say about how that fiscal money gets [divided] up.
“Then you have private central bankers and private interests who control monetary policy and are relatively independent of the fiscal. What we’ve seen [is that] … the less the government has information sovereignty and financial sovereignty, the more dependent it is on the central bankers.
“So, as the government have levered up with debt and lost their informational and financial sovereignty — part of this is what’s happened with digital technology — the central bankers have gotten more and more powerful.
“Since fiscal [year] 1998, we’ve had what I call the financial coup d’état. So, in the United States, up to $100 trillion have been moved out. Dr. Skidmore and I did a study, and as of 2015, the number was $21 trillion …
“At that exact time, we had $20 trillion of debt. So, there was more money disappearing than there was debt. [So, they were taking that] money out. That’s the financial coup. Now that the money is out, you can collapse the government.”
Why central bankers are intentionally collapsing government
Importantly, Fitts stresses that government doesn’t have the power to make illegal transactions. The central banks — which are privately owned — must be involved in order for that to occur. The private banks “are doing it for them,” Fitts explains.
“So, we’ve now reached the point where the central banks are moving in and basically taking control of fiscal policy as well,” she says. “And this is why there’s such a big debate about election fraud.
“Essentially the computer systems are controls for the elections, and essentially, the citizens or taxpayers have lost any say. If you look at polls over the last 10 years, the citizens want the country to go to the right, and Congress votes to go to the left. That’s because increasingly these people are controlled and dependent on what the central bankers want.
“There’s a great interview that Chuck Schumer, the senator from New York did at the beginning of the Trump administration, where he basically said that if Trump thinks he’s going to contradict or defy the CIA, he’s dreaming; they have 50 ways from Sunday to get you. And traditionally, if you look at the U.S. intelligence agencies, they basically worked for the central bankers.
“So, what’s happening is we’re watching a reengineering of this fiscal line. You’re basically looking at the central bankers moving to put into place a system that will allow them to extract tax without representation. That’s the trick, financially. How do you force the citizens to pay taxes with no representation?“ Of course, they’re using the pandemic to roll in the system that will make it possible for them to achieve that. Naomi Wolf has done a very good job of describing this, and she said, ‘Vaccine passports are the end of human liberty in the west.’
“She’s right, because ultimately, what it’s going to evolve into is a financial transaction system where, if you don’t behave, the central banks can take money right out of your account. They can stop you from transacting.”
An example Fitts gives is, say the central bankers (read totalitarian rulers of the whole world) don’t want you to be able to travel. They want you to stay put where you are.
They can easily accomplish this, in this planned system, by programming your electric car such that it cannot operate past that five-mile boundary line.
They will also have full control over the function of money in this system, meaning they can decide what you are allowed to spend your money on. They could decide they don’t want you to have fresh food, so you can only use the central bank digital currency for processed food.
The central bankers are nothing if not clever when it comes to prototyping. They don’t do anything without first running many tests to see what will work best. But they don’t just hire top experts.
No, instead, they persuade the top developers that they can make a ton of money by developing these prototypes. They make it fun and innovative, allowing skilled people to come up with the ideas.
Once a successful prototype has been identified, they then build their own version of that. In the case of cryptocurrencies, their version is a central bank digital currency under centralized control.
Another part of the complete system is the smart grid, which was prototyped, developed and rolled out in recent years. The smart grid is, of course, a requirement for the surveillance apparatus that is at the heart of it all.
And right on cue, the IRS now requires taxpayers to claim all ‘digital assets’.
What Austin Fitts describes is how tyrannical governments take total control of your life through access to your bank account, your car, your home, and your social behavior.
The average person thinks of digital technology as a modern convenience. The government sees it as a means of domination.