Part III - Transcript of Puplava Catherine Austin Fitts interview on Mortgage & Financial Market Manipulation -
Please see part I and II at the following links:
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... and the entire audio interview at the link below:
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Part III
JP: Catherine, getting back to the other economy that’s out there now, the Credit Bubble, Fannie Mae, Freddie Mac, all of this Credit financing, what’s your view in terms of how this ends. I can’t help but see this whole thing crumbling, and maybe it’s a private initiative that rises from the ashes such as the things that you’re proposing that rebuild this economy, because certainly we have hollowed out this country in terms of what we’ve done to manufacturing. And you can’t create wealth by just printing money and borrowing money.
CA: Right. I think there are two scenarios. One is the bust, which is this thing keeps going as long as it can be financed by the U.S. governmental apparatus, and at some point, you know, as the Japanese and everyone else says we’re not buying any more of this, we’re not taking more dollars, the thing busts. And when it busts, what you’re going to have is, it’s going to be 1929 but worse. Because in 1929, there was a lot of social capital in America. It was a much kinder, gentler place I think than it is now. And you had many more people that knew how to grow their own food, or knew how to function. So one scenario is the bust.
The other scenario though Jim is the Orwellian scenario, which is we’ve reached a point, and I’ve written many articles about this, where rather than let financial assets adjust, the powers that be now have the control of the economy through the banking system and through the governmental apparatus, they can simply steal more money, keep financial assets, you know whether it’s the stock market pumped up, the derivatives going, or the gold price manipulated down. And they simply liquidate all living things rather than let the economy go bust. In other words, you can adjust to your economy not by letting the value of the stock market or financial assets fall, but you can use warfare and organized crime to liquidate and steal whatever it is you need to keep the game going. And that’s the kind of Orwellian scenario whereby you can basically keep this thing going, but in a way that leads to a highly totalitarian government and economy … corporate feudalism.
JP: It almost sounds like we’re heading in that direction in some sense in terms of the words that they use, the way the statistics are manipulated, “seasonally adjusted” (laughter), I love those words. “Seasonally adjusted”, what does that mean? Does that mean they’re going to make the weather go away? I mean we’ll just have sunshine every day. When you take labor numbers where we have 7 or 8 thousand actual jobs created, and I call them hypothetical jobs, we turn them into 300,000 jobs. Or you have inflation statistics that take everything that goes up and then adjust it for quality adjustments so there’s no price increases …
CA: Right, those statistics have really reached a point where they’re just almost worthless. My vision is citizen controlled and led transparency because at this point I just don’t trust government to provide it. We’re looking at an economy that is phenomenally manipulated and unfortunately Jim, digital technology has allowed a level of manipulation that people like you and I just couldn’t envision.
But yeah, I think it’s very hard for me to fathom how we can avoid the bust scenario. But in theory we can, as long as we continue to finance it, and part of that is rolling out alternative technology. I mean, we have the technology we need to provide alternatives to fossil fuel, but we haven’t integrated them into the infrastructure. And as you know, it’s one thing to have a technology, it’s another to train a whole generation of people how to use it and how to integrate it into their businesses.
The scenarios that people discuss about peak oil are absolutely possible. Either one is possible, that we could have a bust, or sort of the Orwellian process but we simply destroy the middle class.
JP: You almost wonder if that’s indeed the way we’re going, because certainly, you know I can’t imagine Catherine the average person on Main street, let’s say he picks up the newspaper in the morning and he’s reading that a government report says there’s no inflation. Or he turns on the TV and he sees a news clip of Alan Greenspan talking about wonderful productivity, miracles going on with assets, and then the poor guy goes to work, pulls into maybe the filling station on the way to fill up his tank of gas, and then maybe on weekends goes to the grocery store or maybe he has to visit the doctor, and he’s seeing his costs go up in a way that isn’t described anywhere in the financial media. Yeah, they may talk about rising gas prices, but I always here this word “benign” inflation. What does that mean?
CA: Well it’s funny, one of the things that was wonderful when I first moved to Hartman County, I was driving around with one of the local farmers who was telling me essentially that they weren’t efficient like the corporations. And, you know, we got into it a little bit more and what I discovered is that they didn’t understand that they were having to compete on a basis where their revenues were greater than their overhead, and what they didn’t realize was that local food franchise was laundering money and doing pump-and-dump stock market fraud, and so that they didn’t have to generate revenue sufficient to cover their expenses. And the problem wasn’t that the small farmer was “out of it”, or not clever, it was the small farmer was honest, and was up against competition that was essentially practicing organized crime. And so I think part of the challenge is if you’re sort of a regular guy in America, you’re in the middle of economic warfare, and how do you see the game? How do you see the game clearly? And how do you see the game in a way that you then have the opportunity to do something about it? Cause there’s no sense in seeing the game if it just depresses you to no end. So how do you see the game, and then how do you organize? It’s funny, when I started to do speaking tours about the financial fraud in Washington, somebody said to me “Do you think there is a conspiracy?” And I said, “Look, don’t worry about if there is a conspiracy, you need to start one.”
JP: (Laughter)
CA: And the idea was, you know, we need to organize, if we’re going to function in political markets and the political economy, and government is essentially going to be controlled by private players who are using that governmental apparatus to outfox us in the game of economic warfare, we need to organize to do the same. So we need to see that we’re in a game of spiritual and economic warfare, and organize accordingly. So the average guy is going to have to figure out how he can, in fact, start whether it’s locally or network globally. The pro-decentralization team, the honest guys, are going to have to start forming conspiracies to shift the resources back to us.
JP: Well it seems like one way to do that Catherine would be in a world that’s full of fiat currency floating around is to own something real and tangible, which is to own the gold and the silver.
CA: Absolutely. Absolutely. One of the great new vehicles in my life is I use Gold Money. I don’t know if you’ve used any of this Digital Gold? But it’s quite marvelous. Have you had James Turk on your show yet?
JP: Yeah, we’ve had him, and James is coming back in the month of June, which is going to be devoted to gold and silver.
CA: Great. I’m a very satisfied Gold Money consumer. And I’m a great believer in the precious metals right now. We’ve certainly seen it manipulated down, and it’s certainly a manipulated market, but I feel very confident that the price of gold has quite a floor under it, and I think it’s going to go up quite a lot in the next couple of years.
… You know something Jim, I’ve been stunned because, remember I spoke at the National Press Club with Murphy about 2 years ago, GATA did a great press conference, and C-SPAN covered it. And I would never have believed that they could keep the manipulation going on this long. … At the same time, I don’t think that they can use the governmental apparatus to finance this game much longer, and I think precious metals have a tremendous market following. And so there’s a fundamental economic support for precious metals that you can count on. So that’s an investment that I believe in, and I agree with you absolutely, and they can’t do this forever. … |
