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OUT OF MIND » HOT TOPICS » GOVERNMENT & THE NEW WORLD ORDER » Catherine Austin Fitts – We’ve Reached ‘Never Never Land’ Accounting

Catherine Austin Fitts – We’ve Reached ‘Never Never Land’ Accounting

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PurpleSkyz

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Catherine Austin Fitts – We’ve Reached ‘Never Never Land’ Accounting


Catherine Austin Fitts – We’ve Reached ‘Never Never Land’ Accounting Catherine-austin-fitts



Catherine Austin Fitts joins Greg Hunter to discuss the latest financial trends, resulting from “reverse Globalization” and the re-patriation of capital and assets to the US, which has resulted in the “submerged emerging markets.” Many such countries are really feeling the pain, with rising unemployment and greatly devalued currencies, Russia’s having dropped 18% since January and Venezuela’s dropping by 99.9%.
Fitts says it’s not just US Federal policies to bring back capital and manufacturing that are causing this but also automation and AI that are impacting developing markets by altering what the US needs from those markets, from natural resources to outsourcing.
In addition, she says, there has been a continuing breakdown of the US dollar’s hegemony established by Bretton-Woods system during the end of World War II, which has been on very shaky ground since the 2008 Global Financial Crisis.
With the US dollar as the reserve currency, the US has benefited from cheap resources – but at the expense of exorbitant military budgets and she implies it no longer works if “the money you’re spending for a military running the system is less than the benefit you’re getting.”
She says we saw two factions of the American establishment battling in the 2016 election, “One of them wants to pull back behind the oceans into ‘Fortress America’ [or what she says Trump calls ‘Make America Great Again’].
“Now, with drones and other technology, you can project power…by using drones and space weaponry and other things…[instead of running a global military].
“With robotics and AI, you can bring a tremendous amount of the manufacturing and operations you need for national security back into North America, so what you’re seeing is a consolidation of the base back into North America and making North America strong, so…[if] the end of the Bretton Woods system happens and we shift to a multipolar world, America can be effective in that world.”
Fitts says these ideas make a lot of sense for concrete businesses. “The other [Globalist] faction, on the other hand, wanted to continue to strip the base, on the theory that you could keep the global game going. I don’t think it was gonna work and clearly, there were a lot of smart people in the military [who backed Trump and] who didn’t think it could keep working, either.”
While almost all financial figures in the Alternative Media have been warning of an imminent global economic collapse for the past decade, Fitts has maintained that we would see, instead a “slow burn.” But things are coming to a head, with Germany’s Finance Minister, Olaf Scholz recently urging the establishment on an alternative to the SWIFT (Society for Worldwide Interbank Financial Telecommunication) banking network, which carries the vast majority of all interbank transactions, with data centers in the US, Netherlands and Switzerland.
SWIFT is a major source of global signals intelligence for the NSA and US has thrown its weight around through the SWIFT system, as a primary means of imposing financial sanctions on countries like Iran, Russia, Venezuela, Cuba and North Korea. The Europeans have become increasingly dissatisfied with this arrangement, to say nothing of the sanctioned nations.
In the long term, the outlook for the US dollar looks very weak but in the short term, it’s still strong and “not coming apart anytime soon.” This continued “dangerous dominance” however does carry the threat of extreme volatility events. “That’s why this situation argues for balance…the real push is to real assets, whether it’s real assets, reflected in a stock or real assets, reflected by real estate or precious metals…Since 2008, the holdings of the top 100 land owners America has doubled Greg, doubled!
“…The push, politically is going to be towards building a global equity model. So, we’ve been on a debt model and there’s going to be tremendous push, including from the central bankers to push for an equity model and it’s one of the reasons I think you see the central banks around the world buying stocks for their reserve. So instead of buying US Treasuries, the Swiss National Bank has been one of the leaders of building stocks. We had a report in 2017 from the BIS looking at the debt problem that said, ‘Anything we could do to encourage equity is really important.'”
Her latest report, “The Rise of the Asian Consumer” addresses how the growing Asian middle class, which will soon be ten times the size of that of the US will act like a tsunami, raising prices on everything, while also presenting enormous opportunities for Western businesses.
This will occur in tandem with radical developments in robotics and AI. Fitts says that understanding these changes will be important for situating yourself advantageously. “You know, demographics are so important to who succeeds…if you look at estimates of how many engineers we’re producing a year or the G7 is producing every year versus how much [Asia is] producing, you know it’s multiples of 5 to 10 times more engineers every year. We’re producing a lot of lawyers Greg, we need to be producing more engineers…
“The other thing is, their engineers, in terms of innovation are not checked by the copyright system, the way we are here. So, if you look at the speeds they’re moving at, in terms of invention on tech or AI, it’s quite remarkable.
“The second thing I go through are IQs…the Asian populations are considered to have IQs of about five to ten points higher than ours and if you look at what’s been going on in this country in the last 20 years, with nutrition, with fluoride, with geoengineering, lots of other things; vaccines, I think have been a really concerted effort to lower IQs here. So if you look at the number of engineers they’re producing, the speeds at which they’re free to operate and the IQ points they have on the board, relative to our population, it’s scary.”
Fitts says that the Anglo-American alliance has been so dominant over the past century because, “We have been able to achieve the lowest cost of capital, globally of anybody…If you get into the financial engineering of what we accomplished, it’s quite remarkable – but it all depends on people believing that we practice the rule of law – and if you look at what has happened with the bailouts and the (missing) $21 trillion, it is going a long way to destroy our reputation.”
The rich in China do not trust their government and are moving their assets offshore and she says, “It’s going to come down to whether the American alliance can reaffirm their credibility, when it comes to respecting people’s property rights and the rule of law,” an area in which she has seen “tremendous deterioration.”
Fitts gets into her attendance of the Aspen Council last year, where she learned that venture capitalists definitely intend to replace every US worker with robots, which will be given citizenship and which will pay taxes (!)
The final months of the year are looking very tense and it remains unclear if release will come in the form of war, a geopolitical problem, a financial problem or all three. “The variability of what could happen is extraordinary. I think that’s what’s making life so difficult. So this is really a time to be prepared.”
Fitts is a fan of silver, which is down 16% in 2017, leading her to ask whether “they’re trying to preserve silver for the industrial applications?” (a sentiment echoing Web Bots predictions which remain as yet unfulfilled).
She’s a fan of gold. Even though it is down 8%, both gold and silver are hard to buy in quantity but that if there is anything that people all over the world agree upon, it’s that, “Gold is money.”



https://youtu.be/8-rwzItf9-o


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