Corbett Report – September 18th, 2019 Interview with Catherine Austin Fitts

7 Comments

1. Great interview, Catherine. It’s a wonderfully detailed overview that I can share with those who aren’t aware of what’s been going on. And I guess this answers the question whether you’d go back on the Corbett Report again. Thanks!

2. Dear Catherine

   Another top notch interview. It’s wonderful to listen when great minds come together.

   Have you ever followed up with the president of CalPERS on his comment that “they” had given up on the country and were moving the money out of the country, and perhaps got some new insights from him?

   Regarding the rating agencies, there was a lesser-known agency called Egan-Jones. In 2011, they were the first agency to cut their rating on the US from AAA to AA+. In 2012, Egan-Jones downgraded the ranking of the US for the second time from AA+ to AA and then for the third time from AA to AA-. Egan-Jones was also the first to downgrade WorldCom and Enron. The SEC then came down hard on them and almost destroyed them. (Sound familiar?) In the end, as part of the settlement they were barred from rating government securities.

   I am looking forward to part 2 and hearing both of your thoughts about where the money went. Does off balance sheet imply off-shore, off-continent or perhaps off-planet?

   1. No – have never followed up. The losses that Calpers experienced in their real estate portfolio as a result of the housing bubble were significant and their positions in Treasury securities were significant. Given the sensitivity of those losses and what his comment disclosed, following up with him IMO could have caused him physical danger – that is something I would not do.

      Wow. I did not know that story regarding Egan Jones. THANKS!

      “Regarding the rating agencies, there was a lesser-known agency called Egan-Jones. In 2011, they were the first agency to cut their rating on the US from AAA to AA+. In 2012, Egan-Jones downgraded the ranking of the US for the second time from AA+ to AA and then for the third time from AA to AA-. Egan-Jones was also the first to downgrade WorldCom and Enron. The SEC then came down hard on them and almost destroyed them. (Sound familiar?) In the end, as part of the settlement they were barred from rating government securities.”

      I have addressed the options for where the money went in numerous Solari Reports, including with Dr Farrell and Richard Dolan. No doubt a bunch of it is in the Anglo-American offshore havens while FASAB 56 and Brexit move forward to protect it from a variety of sources getting hungrier by the minute as slobalization bites.

3. This is probably the best short summary of the problem with Ersatz as a Way of Life, AKA Fake News, AKA FASAB 56. When the markets plummeted by 60% in 2007-8, it was predictable and indeed was loudly predicted by The Elliott Wave and its adherents like me. What was inexplicable was the super-ball bounce, followed by escape velocity above any responsibility to the laws of gravity thereafter. After arguing fruitlessly with the mavens of EWT, I left it behind and along the path of wandering, came to Solari.

   In the meantime, the rules have continued to change in investments, and indeed in the public face of government, itself. However reluctantly, we’ve had to stop believing in Santa Claus, and now must approach the whole matter of Christmas in a new way.

   Here is the opportunity: The markets no longer function as a means of valuing securities, they only display the price. The value of a security is a combination of track record, price, risk and prospects. The final two are now unavailable due to FASAB 56, but there is nothing to say that meta-market studies cannot be conducted that would reveal these, at least with some sort of reliability. I think this is where investigators in our community can literally use their understanding of reality along with the information they read between the lines to forecast where the money will flow, including towards and away from commodities and real estate. You can’t rely on corporate or government reports for forecasting, but there should be enough public information available to say who is in favor, out of favor and who is physically expanding or contracting and where. It’s not perfect, but really, it never was, we just THOUGHT it was. Eventually, markets must be freed again or currency will no longer be fungible. The meta-market analysis I refer to might be our contribution to saving civilization, much as the Irish Monks are said to have done in their own Dark Ages.

   1. This is what I have been trying to do intuitively with what is available without building a proper analytics infrastructure. Yes, it is an opportunity. However, the analytics need to be not just about investment but all aspects of living free and healthy. Actionable intelligence for a free and inspired life. Part of the fun on the investment side is investing in the productive that has a good future instead of the centralized slavery plan. No interest in windfall profits on slavery and genocide – you only sabotage your spiritual protection.

      1. I cannot deny that. Still, you must beat “them” and the free market is what beats the manipulated market. Eventually, you must roll back the enemy on all fronts. For me, knowing WHY I do something is the essence of freedom, not simply the deed itself. And I think you have expressed a fundamental agreement with this: Living In The Intersection. You have to go along in some things to progress in others.

         1. Yes, no objection to living in the intersection so long as I am also free to explore and live in reality. No desire to be constrained by official reality – what is the point?

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