Financial expert Catherine Austin Fitts has long said before there is another big financial crash, there will be a big war. Fitts explains, “If you look at how fragile the geopolitics are, the danger, as I have always said, is that we go to violence, and then things really come unhinged. So, I’m worried about violence and war and kind of situation getting out of hand. That’s when you get the really dangerous scenarios.”
What is the biggest financial problem the world faces? Fitts, who is an expert in the federal budget and a former Assistant Housing Secretary, says, “The reality is the big mother lode on the whole planet, whether you are talking about derivatives, the bond market or the stock market, is the U.S. federal budget. What is slowly begging to happen is the dawning realization that we are not only going to have to reengineer and cut the federal budget, but we are talking about reinventing the U.S. economy. There are going to be extraordinary choices, and this is why nobody wanted to be the Speaker of the House. Paul Ryan did not want to be the Speaker because Paul Ryan knows this is coming. They will probably be able to delay it until after the election (2016), but then after the election, we’re going to have to sit down and say we can’t keep doing this. Why is this relevant? All the markets globally work off the federal budget. It is extraordinary the amount of cash flows and credit that work off the federal budget. The credit and cash flows coming out of that budget are enormous. The reality is it is going to have to be reengineered. That’s going to be a very shocking experience for many people.”
Fitts says this will come with some negatives, but also some very big positives. Fitts contends, “In capitalism, winners have to win and losers have to lose. All across the world you have winners who have been manipulating, cut and stolen from the federal budget, and they are sitting around and not being corrective. If you switch and start to let the winners win and the losers lose, there is a lot that can go on that’s good.”
The big losers, according to Fitts, are “anybody getting a government check or contract.”
Fitts says there is up to a 60% chance the Fed will raise rates in December, and she says, “We’ve got to do it . . . and it’s going to be shocking.”
Join Greg Hunter as he goes One-on-One with former investment banker Catherine Austin Fitts, creator of the Solari Report.
(There is much more in the video interview.)
After the Interview:
Catherine Austin Fitts has some free information and videos on the home page of Solari.com. She also sells her analysis and information in the form of a newsletter called the Solari Report.Here is an example of something good happening when the winners win according to Catherine Austin Fitts.
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.