Where To Post When You Don't Know Where To Go

4 Comments

1. 6/23/09 2:05 PM

   Do you know about this?

   Hi Catherine,

   I heard about you through my brother Ed Harrison, who I think you met at a Permaculture conference. I tried to talk to him about this and he couldn’t see much past “conspiracy theory”. That isn’t where I’m going at all – I just ran across something that makes me wonder about the impact this event will have on the dollar.

   What I noticed was that:

   1) Brazil is re-entering the IPO market after an extended absence with an initial offering of VisanetSA valued at around $2 Trillion on June 29th.

   2) China is also re-entering the IPO market after a nine-month absence with an offering of Guilin Sanjin Pharmaceutical valued at about $93 Million, also on June 29th.

   Curious, I look up an average day of day of trading. The best I could estimate, these two offerings exceed a normal day’s trading by about 10-15%.

   I don’t have the skills/tools to properly analyze the implications, but it does strike me that these two IPO’s are providing an opportunity for people to invest in these markets after a long hiatus, and that trading will favor currency other than dollars. With the dollar already struggling, what sort of impact could something this large have?

   My reason for writing to you is that if you do see something, I’d rather it be pointed out in a way that considers the greater good, rather than pouring fuel on the fire and/or suggesting everyone jump on the bandwagon, consequences be damned.

   Thanks and keep up the good work!

   Laura Harrison

2. T. LOUIS JERKINS

   1:39 AM

   Dear Ms. Fitts:

   I was listening to you on Coast to Coast on June 24, and you said there was a decision in the 90’s to do away with the middle class.

   Could you further explain the statement or direct me to your wrightings where you have written about it.

   Thanks in advance.

   Louis Jerkins

3. a question for Catherine Austin Fitts
   Tom
   8:31 AM

   I recently heard you on the Coast to Coast show. You sounded very knowledgeable and not very reactionary which is quite different from most economic commentators on national media.

   I have a very simple question that probably has a complex answer, but I hear no one really address it. I know what the terms mean in a technical sense for “hype-inflation” and “economic collapse”, but my question is; what is the trigger event for an occurrence of this.

   A hype-inflation example may well have been the stock market before it collapsed. While it didn’t impact the average person as other past hype-inflation of economies have. The values of most stocks were clearly inflated above what they could realistically maintain.

   I realize a war on our soil, an asteroid impact, a major terrorist event involving radioactive elements would all fit the economic collapse theory for the US. There has to be other triggers as other economies have failed from different events. Absolutely none of them have done what we are doing which has me concerned somewhat. Enough that I am writing you in hopes of some intelligent not “hysterical buy gold” type answer.

   Thank you for any response and time you take to even read this

   Tom Hawman aka notuboo

4. Raymond Chuang
   7:53 AM

   To Catherine Fitts: permanent fixes to our financial mess.

   Catherine,

   I listened to your guest stint on Coast to Coast AM last night and frankly, it’s high time that President Obama should seriously look at a massive and comprehensive overhaul of the entire financial system to avoid the type of financial meltdown we had in 2008.

   I just yesterday sent a physical letter to the White House suggesting a four-point plan to improve the economy. The four-point plan should go like this:

   1. We need to drastically overhaul the national and state taxation systems. The problem with income taxes is that by definition they tend to favor debt financing (we know how well that went with the sub-prime home mortgage mess!) and forces businesses to make their economic decisions based on the lowest tax burden, not what’s economically best for the company overall. In short, we need to drastically simplify the Internal Revenue Code or scrap it altogether for a new taxation system that encourages personal savings and capital investments in the USA, not in a foreign country as a tax reduction measure. American citizens and businesses have somewhere between US$12 and US$17 TRILLION (not a misprint!) in liquid assets sitting outside the USA for tax reduction reasons; bringing most of that back under better tax conditions would provide a gigantic liquidity boost, one powerful enough to stop the economic malaise literally overnight!

   2. We need to reign in through the SEC the new, exotic investments such as credit default swaps, derivatives, and hedge funds. These new investments have little to no regulation and the failure of these investments last year caused much of the stock market crash, especially the failure of Bear Stearns and Lehman Brothers.

   3. We MUST increase the minimum margin requirements of trading in stock futures and commodities from the current 5% to at minimum 15%, with possibly as high as 25% for these critical items: crude oil, certain petroleum products such as unleaded gasoline, diesel fuel and kerosene, critical foodstuffs such as corn, rice and wheat, critical industrial metals such as aluminum, copper, iron, molybdenum, nickel and titanium, and precious metals. This will drive out the innumerable speculators that drove the price of these items up and down like the express elevator ride in the Empire State Building and could be critical in stabilizing the inflation rate.

   4. Get the banks out of the equities market by reimposing the full provisions of the 1933 Glass-Steagall Act. Remember the 1987 stock market crash? Because banks in 1987 could not directly invest in the equities market, they became the de facto “economic backstop” that held up the US economy while the stock market recovered from that bad experience. The crashes of 1929 and 2008 were made worse by the fact when the stock market failed, it also took the assets of the banks with them.

   The implementation of these four steps will provide the type of solid, conservative economic foundation for a future revival of the US economy.

   Raymond Chuang
   Sacramento, California USA

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