MUST READ: America's Black Budget & Manipulation Of Markets

[OneBlueSky]

still wondering about that missing $3.3 trillion? . . . this discussion links the mortgage market with the government's black budget, and provides a whole lot of insights into both . . . fascinating reading, and very scary if what this lady is saying is true . . . she was, btw, the Assistant Secretary of Housing in the Bush I administration . . .

America's Black Budget & the Manipulation of Mortgage & Financial Markets
Financial Sense NewsHour
Radio & Net Talk Show Presenting
Catherine Austin Fitts w/ Jim Puplava
May 22, 2004 Webcast Transcript

http://www.scoop.co.nz/mason/stories/HL0405/S00268.htm

(snip)

Now, when people say to me “What is $3.3 trillion of undocumentable adjustments?”, let me give you an example. In fiscal 2000, the Department of Defense had $2.3 trillion in undocumentable adjustments. OK now, there’s no way for us to know Jim, how much of that translates into cash. ‘Cause $2.3 trillion is more than total taxes paid in a year by … say tax payers in that year would have paid taxes of about $1.6 trillion. So, there’s no way to know if $2.3 trillion translates into how much cash, or how much cash is missing.

What we do know is that under the laws of the Constitution, which say money cannot be spent unless it is appropriated. It is essentially a violation of the Constitution to do that, with one exception. And this is where the black budget comes up. There are provisions under the National Security Act of 1947 and the CIA Act of 1949 for military and military intelligence to crawl money from outside of different agencies’ budgets, and spend it on non-transparent purposes. That’s sometimes why it’s called the “black budget”.

And what I found out both as Assistant Secretary of Housing, and then what I found with my company … and with the group of honest guys kicked out of HUD, was you had an agency whose legal purpose and political purpose was to help finance the mortgage markets, whose mortgage insurance programs were increasingly caught up in financing black budget operations. And this is very much tied to what’s going on in the mortgage markets.

(snip)

I have a member of my group, the Solari Action Network, who reconfigures the BEA’s statistics once a quarter, and what his calculations show is very much what I see on the ground in communities throughout America Jim, which is the average American household has income of $32,000 per year, they have expenses of $37,000 per year, and they finance that $5,000 per year deficit with liquidating assets, working harder, or borrowing more. And of course as you know, and it’s clear from your website, that the debt has gone … not just the consumer debt has gone up-up-up, but the mortgage debt has gone up-up-up. And now, that load is just increasing every year, and meantime we are accelerating moving all the jobs and income abroad.

- much, much more . . . there's so much more that I would have liked to post, but I'm abiding by the four paragraph limit . . . well worth your time to read the whole thing, imo . . .

http://www.scoop.co.nz/mason/stories/HL0405/S00268.htm

on edit: for information on the Solari Action Network, see . . .

http://www.solariactionnetwork.com/phpBB2/

[papau]

1. Pushing gold and real estate so as to avoid bubble burst?

A bit dishonest in her terms - as an accountant from Wall Street she should know the "undocumented adjustments" number has no real meaning - and does not mean what she is trying to imply.

But she is correct as to gov audit standards, centralization of wealth, and black box games for the CIA.

So it's difficult to find the message that might be true in her comments. The missing buildings fraud re mortgages needs exposure, since it might reveal the black budget as much larger than the $40 billion that is told to Congress (pretend assets hide money spent - or put into assets under CIA control).

thanks for posting - very interesting

:-)