Thursday, March 24, 2011

Capitalism is Broke Because Rich White Het Men Are Looting It: Details here, by Catherine Austin Fitts

Corporate capitalism is dying, folks. And well it should. It only exists to make the rich richer and the poor and working and middle classes more and more exploited, traumatised, and insecure to the point of being terrified of losing home and livelihood. (Not only the middle class.) It only exists in the Global North to loot the Global South. It exists to enslave, rape, and murder women and girls. It profits by murdering the Earth and all live on it. If you don't accept this, you are living in denial. That's a requirement of corporate capitalism: you living in denial.

Please click on the title below to link back to the activist website which is where I found what follows.

Catherine Austin Fitts: The Looting Of America
Financial terrorism and the war on the middle class.
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.

She has an extremely sophisticated understanding of how the world's financial system works right down to the "inconvenient truth" that revenues from the illegal drug business are essential for propping up the big money market banks. (Not a theory. Proven over and over again in criminal court trials.)

Fitts' well thought out ideas about exactly what needs to be done to put the American economy powerfully back on course were not welcome in the crime-friendly Bush administration and she was driven from government.

In this fascinating interview, she talks about where things are ultimately headed, the the true nature of the threat we face, and what we can do to turn things around.

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