From Video Rebel's Blog:
Catherine Austin Fitts said we are witnessing a Leveraged Buyout of the world that will permanently end democracy. The elite has bought all the politicians and the media. They have stolen enough money to earn 2 trillion dollars a year from their investments. She said 2 trillion dollars a year is sufficient to fund a world government.
Wall Street and the City of London have been given more money in Bailouts than the total amount of money the United States spent on all of its wars. Wall Street was also allowed to steal 4 trillion dollars from federal spending that we are not allowed to audit. When she was Housing Commissioner in the first Bush administration, she once saw on one city block ten government guaranteed loans on buildings that never existed.
Separately from that Jim Willie has said when the Federal Reserve sells Treasury bonds, they sell more than the deficit. This fraud has added trillions more to the LBO Buyout fund.
As I have said previously, the banks are allowed to launder a trillion dollars a year in drugs, 400 billion dollars a year in illegal weapons and 500 billion dollars in political bribes.
Catherine has written and spoken often of mortgage fraud. The bankers were allowed to sell each mortgage ten times. The Federal Reserve has been busy buying fraudulent mortgage backed securities to keep the bankers out of jail.
Former Assistant Secretary of Housing under George H.W. Bush Catherine Austin Fitts blows the whistle on how the financial terrorists have deliberately imploded the US economy and transferred gargantuan amounts of wealth offshore as a means of sacrificing the American middle class. Fitts documents how trillions of dollars went missing from government coffers in the 90's and how she was personally targeted for exposing the fraud.
Fitts explains how every dollar of debt issued to service every war, building project, and government program since the American Revolution up to around 2 years ago - around $12 trillion - has been doubled again in just the last 18 months alone with the bank bailouts. "We're literally witnessing the leveraged buyout of a country and that's why I call it a financial coup d'état, and that's what the bailout is for," states Fitts.
Massive amounts of financial capital have been sucked out the United States and moved abroad, explains Fitts, ensuring that corporations have become more powerful than governments, changing the very structure of governance on the planet and ensuring we are ruled by private corporations. Pension and social security funds have also been stolen and moved offshore, leading to the end of fiscal responsibility and sovereignty as we know it.
Fitts explained how when she was in government she tried to encourage the creation of small businesses, new jobs and new skills to compete in a globalized world otherwise the American middle class was toast, only to be forced out by the feds using dirty tricks. The elite instead wanted Americans to take on more credit card, mortgage and auto debt that corporations and insurers knew they couldn't afford, while quietly moving their jobs abroad in the meantime.