Renowned financial expert Catherine Austin Fitts warns there is not much time left for the current system. Fitts contends, “We have built an infrastructure that doesn’t make economic sense, and we are going to have to change. What’s happening in state and local budgets is the same thing that is happening in health care. It’s the same thing happening in all these different areas, which is we have engineered government investment to prop up the stock market. . . . Washington, D.C., is basically run for the political campaign contributions generated from capital gains in the stock market. The problem is, to get that rise in the equity markets, we’ve ended up pumping out enormous amounts of government debt and government money that has a negative return for taxpayers. It’s not sustainable, and the game is up. . . . I’ve been telling you for 15 years we were going to have a slow burn. I am telling you that’s over, and we are now into controlled demolition.”
Don’t expect the mainstream propaganda media to give you any warning or real information about what’s happening. Fitts contends, “The conundrum for a CNN is how do we get ratings? How do we get attention without talking about the real news? The real news is, since fiscal 1995, we have disappeared or bailed out or stolen over $40 trillion of our money. If we are going to balance the budget, we need that $40 trillion or the assets thereon or the liabilities of the people who stole it back on the table, or else we’re toast. If we can give $27 trillion to the banks, I can assure you we can afford $4 trillion of a pension fund bailout. Mr. Global doesn’t want us to do the algebra. This is like fourth grade math. $27 trillion to bail out the banks, and we are not going to bail out the pension funds? Where does that come from?”
There is no argument for a big crash, the only question is when. Fitts says, “I think it’s more likely to happen in 2018. If you look at the stock market, we are way, and I am tired of saying this, we are way, way overdue for a major correction. If we do get this major correction, and that is perfectly natural, you don’t want to misinterpret that as a major crisis or event. I think we are way overdue for a major correction, and I give that a reasonable chance between now and November. If it doesn’t happen this year, it’s definitely going to happen next year.”
Join Greg Hunter as he goes One-on-One with Catherine Austin Fitts, Publisher of The Solari Report at Solari.com.
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.