Subtitle: Catherine Austin Fitts
Summary: Appearing on the show financial advisor Catherine Austin Fitts discussed the economic crisis and possible solutions. $4 trillion has been pulled out of the economy, she said, and the big mystery is where did it go? At the core, we've experienced a financial coup d'etat-- assets have been stripped out of communities in order to make people more dependent on Washington and centralized government, she asserted. "We're watching the control and consolidation of cash flow." Now the Fed and Treasury are putting trillions back into the economy by printing money-- that isn't going to solve our financial problems, she commented. The current bailout of Citibank is just enough to keep it going, but there's no assurance that'll be enough, Fitts stated. These bailouts are like "steroids" - they're not building real economic value. Fitts proposed a path back to economic vitality: People should put their money into local economies and avoid investing in corrupt institutions. Networking with neighbors, embarking on DIY projects, and buying from local farmers are ways to enhance local wealth. She also suggested young people be given a toolkit for concrete skills such as learning how to build homes and grow food. Additionally, wealth could be created by bringing forward energy and health technology that's been suppressed.
Author: themooreshow; Category: Talk Radio; Explicit: No