Thursday, September 27, 2012

CATHERINE AUSTIN FITTS

My Hero
If you don't know this woman, you aren't doing your homework. My first introduction to Ms. Fitts was during the collapse in 2008 when I was introduced to a PDF that contained a documentary that she had written detailing the money laundering and corruption that permeated our political system and Wall Street and the alliances involved. I wasn't shocked as much by her revelations (which were many) but by the fact that she was still alive and in possession of her faculties. Of course she was never allowed into any main stream media living rooms, which probably was good for her health. In case you aren't familiar here are a couple of lines.


Fitts served as managing director and member of the board of directors of the Wall Street investment bank Dillon, Read & Co. Inc., as Assistant Secretary of Housing and Federal Housing[1] Commissioner at the United States Department of Housing and Urban Development in the first Bush Administration, and was the president of Hamilton Securities Group, Inc., an investment bank and financial software developer.
Fitts has a BA from the University of Pennsylvania, an MBA from the Wharton School and studied Mandarin at the Chinese University of Hong Kong. She publishes a column, "Mapping the Real Deal," in Scoop in New Zealand.

How's that for a major player? She is not a second rate bit blogger trying to connect dots. She was a dot. A big dot. She was someone that knew where the bodies are buried....literally and figuratively. She even has the audacity and courage to speak out. She feels it is a moral imperative and her duty as a patriot. I know......crazy talk....but there it is. If you want to know how the game works from a true insider try this on for size


This post was triggered by paladins comment on Fitts. Here is an excerpt ........The Fed is now where mortgages go to die. Thousands of mortgages on homes that do not exist or on homes that have more than one “first” mortgage are now going to the Fed to disappear. Thousands of multifamily and commercial mortgages will be bought up as well. As this happens, trillions of dollars that have been amassed offshore will be free to come back into the US to buy up and reposition land, farmland, residential and commercial real estate and other tangibles.
With documents shredded, criminal liabilities extinguished and financial institutions made whole, funds can return without fear of seizure.
QE3 proves beyond any shadow of a doubt that the extent of the fraud was as bad as I said it was. You can count up the bailouts and QE1, QE2, QE3 the numbers speak for themselves. The fraud was indeed in the many trillions of dollars. It was intentional. It was a plan.
Now, the $64,000 question for those whose house is underwater or whose mortgage is in default is whether or not you still owe on your mortgage. Certainly, you still do as a legal matter. If the bank has been paid off, arguably in some cases several times, why not you? Let’s see if Fannie, Freddie and the big banks are under orders to quietly pass through a portion of their largesse to troubled homeowners in amounts sufficient to unfreeze the market. If you are in a workout situation, you need to take notice. If enough mortgage write-offs flow through, the Democrats will quickly amass a lock on the elections in November.
If you are in the market to buy a home or other real estate, you also need to pay attention – a major turn is now underway. Watch to see how much the banks pass through to homeowners and property owners to see how fast and big the turn may be. Watch to see the inflow of funds from offshore. This is not only funds returning but investors around the world looking to exchange their dollars for tangible assets to protect themselves from debasement of the dollar denominated deposits and securities they hold. Watch to see what the renegotiation of federal tax policy and the reengineering of the federal budget in response to the “fiscal cliff” do to reposition housing and real estate prices and cost of financing for an inflow looking for large accumulations.
Finally, the way the Fed has engineered the Slow Burn to date is to continually offset monetary inflation with labor deflation. It is worth contemplating how much labor deflation will be required to offset QE3 and how sufficient additional labor deflation might be engineered. Ben Bernanke was quite clever to tie QE3 to unemployment. The problem has become the solution, which is the basis for QE-Infinity.
Beware .....full moon risin'........evil is afoot.......or as I like to say......might as well make some money while Rome burns.....




38 comments:

  1. pushing metals red before the opening......hehehhee.....should be bullish for the day.......

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  2. During my discovery process, I did stumble upon Catherine Austin Fitts. A brave woman.
    Here latest article here is quite insightful.

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    Replies
    1. she is definitely a voice to listen carefully to

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  3. Excellant post! I had never considered this. The bankster being made whole for the fraud nicely done banksters!

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  4. platinum pit is in a war today.....hehehehehe.......coulda made a fortune trading it just today alone

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  5. Fed Buys $20 Billion In QE3 Mortgages; Jobs Created: Zero

    http://www.zerohedge.com/news/2012-09-28/fed-buys-20-billion-qe3-mortgages-jobs-created-zero

    as to the post above....you can not make up this crap

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  6. I never for a moment doubted that they would be made whole at our expense, but is she also saying that the deductions for mortgage interest & real estate taxes will be eliminated in order to hold prices down for cheap purchases for them? Nothing surprises me anymore, but it does make me sick.

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    1. no.....what I believe is she is saying is to wait and see what they do to give the "buy" to the big money in these assets including commercial

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    2. she doesn't know what they will do with the tax structure but she expects some type of restructuring to occur

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  7. Certainly the Mortgage Interest Deduction comes up from time to time in politics. There has been talk of eliminating it.
    Maybe that is part of the plan. Eliminate the deduction so fewer Americans buy homes and others that have homes will sell them. They will have to rent. Then, strong money comes in from overseas and buys everything on the cheap. New landlords for everyone.

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    1. It has always been the intention of oligarchs/monarchs to have the subscription model. Everything is stolen and rented out to the loyal serfs who are obedient and can pay the tribute. Austerity starting in Spain and Greece guarantees the sparks of global revolution. Only difference this time is you cannot simply throw a few sacrificial minions of scapegoats classes to the angry crowds. There are names and faces now attached to the architects of this mess no matter how hard they try painting imaginary enemies besides themselves. Enjoy the calm before the coming storm, there is no escape from fate.

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    2. succinct and to the point....as usual red

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  8. just in case anyone is wondering about the price action today.....nothing unusual just backing and filling

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  9. Watching OSIR drift higher on low volume the past few days. HCG gave this one a few months back and it blasted from $5 to $14. Pulled back and now looks like it's ready to move again.

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  10. Thanks, that's what I was trying to say Doc, the cheaper for them the better (my, you've really taught me to think completely like a crook kli!) But more to the point of our trading perspective, does this mean we should be buying reits? And how about Greek/Spanish/Italian etc. reits? I think fidelity had an article about that, but didn't offer any symbols.

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  11. hey all.

    think out side the box on this

    do not have a melt down....in the end game did you think the Fed was to let all dollars held over seas to be sold off and brought home... with out a place to park them?

    this is why you buy silver/gold

    what is fund out of denver....Zill....zeal...that sold off the real estate holdings... give me some time I will think of it..

    that is what you need to watch..what is this fund doing

    paladin





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  12. Sister,
    I don't know about the Reits. My concern is whether we really need hard assets, such as land, apartments, etc. as well as the physical metals. This hypothecation of paper scares me and I would question if Reits could fall into that.

    I agree with your "crook" comment. My concern is that the "good guys" are going to finish last.

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    Replies
    1. depends on your definition of last......first of all these guys set the "goals"...we allow them to.......set your own....don't let them dictate "success"......finding your own "truth" is more rewarding than "wanting".......defining your family's and your own true needs and recognizing that nature places a very important limit on all of us......including the "elite"...gives us an advantage in choosing our own paradigms....

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  13. just stop it all

    think out side of the box

    there is a out of this....think

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  14. Kil..

    The Confessions of a Gold Bug
    my intro to gold it 1975/76 and how I dealt with it

    I have no other place to post it.....they have killed all other sites

    if I post it as part 1,2,3,

    can I post it here

    paladin

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  15. Hi Sister
    Street Money21 has been talking about RIETs for a while. Go to the 6 minute point in the video and he talks about some he likes and why.

    http://m.youtube.com/index?&desktop_uri=%2F#/watch?v=F5zpIosTJ5Y

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  16. breaking news

    http://www.silverdoctors.com/breaking-judge-throws-out-cftcs-position-limits-rule/

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    1. Just clarifies which paper markets you don't want to play or even park your money in. Anybody stupid enough to continue playing mfglobal, pfgbest and now the cftc rulings deserves to get beat with the ugly stick. This will spread to money market funds, pension funds, currency funds, bond funds and finally to your local bank. Some parts may take couple years or a couple days. If you want to see how effective propaganda is read the comments on any US based news article that allows sheet sampling. Keep your emotions in control and don't let them evoke an emotional response, not just in trading but in surviving day to day.

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  17. The Catherin Fitts story. What a read. Thanks for posting this.

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    Replies
    1. welcome.....its about as clear as you can get and anyone that doubts the duplicity of this system cannot read that without changing

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  18. new vid posted above.....on oil game

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  19. one of my favs

    http://www.brotherjohnf.com/archives/77251

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  20. Hi Kli
    I know you mentioned this before but who makes the best food storage product? If I remember right you also said wal-mart or somebody has a good deal on a food storage package.
    Thanks

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  21. http://www.pleasanthillgrain.com/buy_sorghum_order_sorgum_bulk_whole_grain_for_sorghum_flour.aspx

    also if you are not into the online sources above you can buy freeze dried buckets with 25 year storage lifes at COSCO and SAMs and many Walmart stores....

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  22. here is an nice site

    http://sharonastyk.com/

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  23. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/9/30_Big_Changes_Are_Coming,_But_The_World_Will_Not_End.html

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  24. And just so they have the bases covered, it looks like we won't be able to get our money out of "liquid" money market funds: http://www.reuters.com/article/2012/09/28/us-money-fund-rules-idUSBRE88Q1MN20120928 We'd like to thank you Mr. Geithner! And it looks like they intend that a $ isn't even a $. Do I have this right?

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  25. Thanks Tom and let's remember we may have buying opp tomorrow as Mr. BB is speaking at 12.30...Market Watch saying they will double Operation Twist in the New Year...oh, yes that should help! Got ag, more hl and ppp on watch. But addressing the Fitts article...we have 3 new apartment buildings and one new hotel just approved in my area...I haven't seen anything like this since before '08. And just as a protest, this part of the city wants to secede and form a new city! Barely a word about any of this before the DNC here. Perhaps the sheeps are waking up. Looking forward to the confessions Paladin.

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  26. Found this on the Jesse's Cafe site: Some info on the Mortgage Interest Deduction

    http://www.washingtonpost.com/business/economy/hands-off-homeowners-tax-break-hud-chief-says/2012/09/28/bfd25f9c-09bb-11e2-afff-d6c7f20a83bf_story.html

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