ECON USA Watchdog - Building a Bitcoin Prison – Catherine Austin Fitts (Must Watch)

Fair use: Building a Bitcoin Prison – Catherine Austin Fitts | Greg Hunter’s USAWatchdog

By Greg Hunter’s USAWatchdog.com(2.20.2021)


Former Assistant Secretary of Housing and investment advisor Catherine Austin Fitts says you have to be careful and fully understand Bitcoin. Fitts explains, “We do know they want to go to an all-digital system with central bank cryptos. The easiest way to build the prison is to get freedom lovers everywhere to build the prison for you. To me, Bitcoin has always been the prototype on the way to building the all-digital crypto system that they would love to put into place. You have $400 trillion in fiat (currency) and it needs a place to go. If you are trying to buy up all the gold, silver and farmland, the last thing you need is competition from retail. They want to shift them into crypto and get them to build the crypto train tracks. In a funny kind of way, it’s brilliant.


There is talk by big banks that Bitcoin could go to $300,000 per unit by the end of the year. Fitts thinks, “This is absolutely possible. This is pure politics. This has nothing to do with economics. How much will the central bankers, who can print as much money as they want, spend to get you into this platform? Your guess is as good as mine. The sky’s the limit as to how much they can spend. Remember, once they decide to bring out the central bank currencies, and they have steadily been regulating the crypto currencies, Bitcoin and everything else, so the day they decide to take this to zero, they can do it. If you are going to invest into cryptos and build our prison for us, what you need to know is this thing could go to $300,000, and it can also go to zero. This is a highly speculative market, and you need to approach it accordingly.”


Fitts warns of a dark future if the central bankers get everything they want. Fitts says, “When they decide to shut down our bank accounts and say you all get on crypto, universal basic income and take that injection or you can’t transact on the financial system, this is instituting a totalitarian system through the financial system. . . . When they shut that trap door, what you need to think about is where are you going to buy food?”


In closing, Fitts says, “We are in Never, Never Land. We have two groups in our society: One group that can print money, and the other who can earn money. What we saw last year is the people who could print money declared war on the people who earn money. They basically said we are going to shut down your businesses, and we are going to suck up and take your market share or buy you out with money we print out of thin air. . . . We have no pandemic. What this is is an economic war.”


Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Catherine Austin Fitts, publisher of The Solari Report.

Video here: Catherine Austin Fitts on Bitcoin, Gold and The Go Direct Reset

R/T about 48 minutes

This is a very important interview Must watch.

this lady has been and is SO clueless, so self deluded, so full of sh*t that it's hard to even listen to. and hunter does the "duuh, ummm yea, bduuuhhh ooooh", as a supporting act. the zero credibility border has been crossed

You have no idea who she is. She is a former undersecretary of HUD under Regan and she along with Prof Skidmore from MSU discovered over 21 trillion dollars missing from the accounts of HUD and DOD and when they went public the data was classified under a national security order. You used the word ‘clueless’ and it fits.

Hfcomms said:

You have no idea who she is. She is a former undersecretary of HUD under Regan and she along with Prof Skidmore from MSU discovered over 21 trillion dollars missing from the accounts of HUD and DOD and when they went public the data was classified under a national security order. You used the word ‘clueless’ and it fits.

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In the interview, Fitts stated that yet another $35 Trillion is now missing. This is in addition to the $21 Trillion.

Scary, ain't it?

mzkitty said:

Scary, ain't it?

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When I tie this with Clif High's forecast (in Unexplained), I become very concerned.

Hacker said:

When I tie this with Clif High's forecast (in Unexplained), I become very concerned.

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Yeah -- it's a regular spooky-thon.

Drive ya crazy if you let it. LOL, my son just came in the room and sez why are we even here. I said WTH do I know?

This guy is funny:

I'm a member of Solari (Catherine's membership site) and I've learned more from her about both macroeconomics and household finance than anyone except maybe John GaltFl who got me started on learning about such things.

Like the rest of us, she is a human being, she makes mistakes (and admits them when she realizes it) and I don't agree with her on everything but when it comes to the murky world of high finance she is my go-to person.

The economics professor who thought she had to be "wrong" about the missing-money went over her work and was so horrified at the reality he called and offered himself and his graduate students to assist in the research.

He was so well known and respected, that all the Federal Government could do was to take down all their information and pass a law in congress making any and all Federal Spending that someone in the government wants to be classified to be just that classified.

Even with all those problems, the numbers located by Dr. Mark Skidmore and his students (along with Catherine and her office) are up to 35 trillion dollars that is MISSING from the Federal Budget. That is a lot of solid gold toilet seats even for congress or the military.

Melodi said:

I'm a member of Solari (Catherine's membership site) and I've learned more from her about both macroeconomics and household finance than anyone except maybe John GaltFl who got me started on learning about such things.

Like the rest of us, she is a human being, she makes mistakes (and admits them when she realizes it) and I don't agree with her on everything but when it comes to the murky world of high finance she is my go-to person.

The economics professor who thought she had to be "wrong" about the missing-money went over her work and was so horrified at the reality he called and offered himself and his graduate students to assist in the research.

He was so well known and respected, that all the Federal Government could do was to take down all their information and pass a law in congress making any and all Federal Spending that someone in the government wants to be classified to be just that classified.

Even with all those problems, the numbers located by Dr. Mark Skidmore and his students (along with Catherine and her office) are up to 35 trillion dollars that is MISSING from the Federal Budget. That is a lot of solid gold toilet seats even for congress or the military.

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That's OK, Melodi. After all, they say they're gonna give us broke peasants another whole $1,400, am I right?

Someone has to pay for the CIA clandestin operations.

I always listen to her interviews, and even subscribed for a while. She seems spot-on for the most part, but lost me on the vaccines. She said they were installing an “operating system” into us, that would control us. Perhaps I underestimate technology and transhuminist intent, but between that and a few other things I read when subscribed, she does seem to have a few controversial viewpoints.

BassMan said:

I always listen to her interviews, and even subscribed for a while. She seems spot-on for the most part, but lost me on the vaccines. She said they were installing an “operating system” into us, that would control us. Perhaps I underestimate technology and transhuminist intent, but between that and a few other things I read when subscribed, she does seem to have a few controversial viewpoints.

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Sometimes she can seem a little dippy, but she's pretty intelligent. I watch people. Doesn't mean I trust them.

mzkitty said:

Sometimes she can seem a little dippy, but she's pretty intelligent. I watch people. Doesn't mean I trust them.

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That about covers her for me.

BassMan said:

I always listen to her interviews, and even subscribed for a while. She seems spot-on for the most part, but lost me on the vaccines. She said they were installing an “operating system” into us, that would control us. Perhaps I underestimate technology and transhuminist intent, but between that and a few other things I read when subscribed, she does seem to have a few controversial viewpoints.

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The whole vaccine thing is where I don't really agree with a lot of what she has to say, I listen and I've even chatted with her about some of what Nightwolf has found, but I don't really listen to her for medical advice either; I am there for other things.

At work now and watched the interview during breakfast this morning. She was making some of the points about BTC that I have been making for awhile about while the central banks want to go digital they are not going to let someone else steal their thunder and take their power of making money which is the only real power they have over us.

She was saying that those dabbling in Bitcoin need to take their profits and not bet the house. She said she has no doubt it could ramp up to 300K and then go to zero because they will pull the rug out from under it when they are ready for their alternative. With everything going digital that will be the new gulag if you don't toe the line. Make you a non-person, no access to banking or credit and you certainly won't receive government benefits such as a universal basic income, etc. Not so much a 'bitcoin' prison but a digital prison.

Also touched on Bill Gates with all the farmland he has acquired and at the same time talking about moving to artificial meat that he is promoting. All the farmland that he is buying he will probably just let it sit and not use it to grow things or produce meat. Slowly starve us out while they push us into this new system of theirs. Believes in au/ag of course but you better have tangibles put away as well.

When she first came out several years ago on c2cam I thought she knew her stuff, but she is pretty much bat crap crazy.

Hfcomms said:

You have no idea who she is. She is a former undersecretary of HUD under Regan and she along with Prof Skidmore from MSU discovered over 21 trillion dollars missing from the accounts of HUD and DOD and when they went public the data was classified under a national security order. You used the word ‘clueless’ and it fits.

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don't make assumptions HF, I've been listening to her for many years, and I still maintain she knows sh*t about cryptos and yet spouts her mouth as if she's a crypto expert. Following that it's Gates' vax as an 'operating system' to control the human body and link it the 'cloud', and then transhumanism bla bla bla.

For those uninterested, the entire crypto market is still relatively tiny and in a speculative phase. certainly btc could hit 300k and it could drop back 50 or 60%. Few yrs back it flew up to 20k only to have govt give the OK for CFTC to be able to run derivative shorts (on btc) and it drifted back down to around 4k. And now it's 57k.

The institutional money is beginning to make news that they are moving into cryptos, which probably means they've been diddling for some time and had better make some announcements. The higher the btc price and more 'big money' involved, the lesser the radical price swings are likely. Think Mastercard, Visa, Blackrock, Grayscale, and many more are putting their hundreds of billions in just to watch it go to dozens of billions?

And if in the G Hunter interview he had the professionalism to ask Fitz... Where's the headquarters of BTC and who is the CEO? Well that would have had her dodging and mumbling so he wouldn't ask such a question.

She doesn't understand much of anything about bitcoin. The banks don't control it. China holds most of it anyways. While everyone is looking at bitcoin no one notices ETH with an actual use case and fast transactions.

For the moment, the central bankers can only pull down the crypto currency market by selling. Sooner or later they run out of ammunition. Not so with gold, silver, stocks, bonds, property and other play toy assets. They can do naked shorts or calls on anything now but not that much on crypto. Because there is a limited amount of crypto currency and is untouchable to manipulate it at the moment because of its block chain nature.

You see for the moment there is no control. There will be control when they enter the market with their own crypto but still the originals on the market they have little control. They have unlimited funds to purchase crypto to control it and demoralize holders by buying and selling but this is the long term drives the price up.

Austin Fitts is right in the fact that this moves us to a cashless society and the controllers in the end will control. however, for the moment, the crypto bull is wild and mean and will run over any thought of a valley.

Hacker said:

There is talk by big banks that Bitcoin could go to $300,000 per unit by the end of the year. Fitts thinks, “This is absolutely possible. This is pure politics. This has nothing to do with economics. How much will the central bankers, who can print as much money as they want, spend to get you into this platform? Your guess is as good as mine. The sky’s the limit as to how much they can spend. Remember, once they decide to bring out the central bank currencies, and they have steadily been regulating the crypto currencies, Bitcoin and everything else, so the day they decide to take this to zero, they can do it. If you are going to invest into cryptos and build our prison for us, what you need to know is this thing could go to $300,000, and it can also go to zero. This is a highly speculative market, and you need to approach it accordingly.”

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This ^^^ I think is true.
I have always said that world governments can stop Bitcoin or any/all cryptos anytime they want. I also think crytos can be a very good speculative investment for at least a while.

White Sunlight said:

For the moment, the central bankers can only pull down the crypto currency market by selling.

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Not quite correct. With the alt coins yes but they are tied at the hip to Bitcoin for the most part. What about Bitcoin? Bitcoin has a futures market and is currently AFAIK the only Digital currency to have one. With that they can manipulate the price of bitcoin by buying or selling the futures just like they do with the paper gold and silver markets. Want Bitcoin to go up and they buy the heck out of the futures and selling is the reverse.

Regulated Bitcoin futures were introduced at the end of 2017 and everyone remembers the pricing run up to 19K which was the pump and then the dump back to under 4K. What is happening now is pump and dump on steroids. As long as that futures market exists and they have unlimited liquidity they can do it again and note how similar the chart of 2018 is to today.

While there is a limit to how many Bitcoins can be brought into existence like there is a limit to how much physical gold and silver are available there is no limit to the gold and silver futures contracts that can be bought and sold with no metal to make delivery with and by the same token there is no limit to how many Bitcoin futures can be bought or sold with no Bitcoin to back them.

Unless and until that is addressed Bitcoin remains vulnerable to be dumped again just like the paper silver and gold markets are.

And remember the old adage when looking at the charts. What goes straight up sooner or later goes straight down.


bitcoin-futures.html

Hedge bitcoin exposure or harness its performance with futures and options on futures developed by the leading and largest derivatives marketplace.

I'll stick to my Ag & Au. Pretty sure not even 3D printers can tackle that.

It's been awhile since I looked at the Bitcoin futures contract specs over at the CME Group. Each futures contract currently is composed of 5 Bitcoin and it says right in the specs that it is cash settled. So the CME is under no obligation to actually deliver any Bitcoin at the contract expiration. Therefore an unlimited amount of contracts can be issued.


If you look at the silver and gold CME futures contracts it actually says that the futures are deliverable but the vast majority of the time they are cash settled and the hoops one would have to jump through to actually stand for delivery are pretty daunting. At least on the face gold and silver is backed by real metal which we know is laughable as there are many contracts for each ounce of silver and gold available for delivery with with the BTC futures you don't actually get a Bitcoin out of it so that should be an even easier market to manipulate if they want to pump it or dump it.

I just listened to this one and I think her most important points (here and elsewhere) are:

1. Secure your LOCAL sources of food, water, and other family needs first - aka the Go Local (including banks, shops etc when possible) most of us here on the forum already do that to the extent that we can.

2. If you go with Cryptos just remember that in reality, no electronic system is safe or ultimately unhackable (she has said that elsewhere and I know a lot of computer people who agree with her) it may not be hackable right now, but that doesn't mean it is "safe" - also if the grids go down, well I agree with her that folks should only invest what they can afford to lose (Greg said the same thing). I do regret not having any cash when Bitcoin was 30 dollars each and I couldn't buy any, but I would only have bought 2 or 3 anyway. Because our family "gambling" limit is about 100 dollars or less at a throw. Everyone's situation is different.

3. She reminded people how during the takedown of the Soviet Union, it was goods (like small bottles of vodka) that were more valuable to people than cash, though having some cash on hand is not a bad idea either.

Basically, a lot of her information is common sense, other things like the new information on the Trillions of Missing Money and the use of the Pandemic to "takedown" the world economy takes a bit more thought and people are going to have different views on the topic.

My personal view is I don't really care at this point if the current pandemic is the result of a lab accident in China or a planned operation, it is being USED as an excuse to destroy a lot of the productive economy (Main Street, small business, independent producers, etc) and not just in the USA but in Europe as well (and probably worldwide).

In Ireland they are talking about not even having cafes, pubs and most hotels reopen until midsummer! By then, the majority of these places will have closed, except those either owned by large chains or some that have managed just enough government and local support to eek by.

Most small businesses and even relatively large ones can't survive for two years without commerce, so I am waiting to see who buys up what. As I told my husband last year, "if they are not careful we will live in a world with no small retailers at all, just Tesco and Amazon." In the US you can substitute Walmart for Tesco...

DWD58 said:

Someone has to pay for the CIA clandestin operations.

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Underground city-scale bunker complexes don't build themselves!

...if they did, I'd have one.

DWD58 said:

Someone has to pay for the CIA clandestin operations.

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I guess smuggling in drugs by the ton just doesn't cut it any more. Probably the Mexican cartels taking over the business.

Hfcomms said:

It's been awhile since I looked at the Bitcoin futures contract specs over at the CME Group. Each futures contract currently is composed of 5 Bitcoin and it says right in the specs that it is cash settled. So the CME is under no obligation to actually deliver any Bitcoin at the contract expiration. Therefore an unlimited amount of contracts can be issued.

Bitcoin Futures Contract Specs - CME Group

Find information for Bitcoin Futures Contract Specs provided by CME Group. View Contract Specs

www.cmegroup.com

If you look at the silver and gold CME futures contracts it actually says that the futures are deliverable but the vast majority of the time they are cash settled and the hoops one would have to jump through to actually stand for delivery are pretty daunting. At least on the face gold and silver is backed by real metal which we know is laughable as there are many contracts for each ounce of silver and gold available for delivery with with the BTC futures you don't actually get a Bitcoin out of it so that should be an even easier market to manipulate if they want to pump it or dump it.

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Something she DIDN'T cover ... what if BTC traders are selling naked shorts? It seems unlikely they'd be selling shorts into a rising market; but if settlement is in cash, then this could mask serious problems in the market (until it fails). Just thinking here ...

ETA: well, issuing an unlimited number of contracts is the same as selling naked shorts, as Hfcomms suggested. This is sooooo convoluted.

Bitcoin and everything about it is as mysterious as that q bullshite.

That tells me that (((they))) are at it again. Thieving controlling subjugating and occupying. As per usual. Perrenial as the grass.

Bitcoin? Not interested, but this was an interesting video.

Hacker said:

Something she DIDN'T cover ... what if BTC traders are selling naked shorts? It seems unlikely they'd be selling shorts into a rising market; but if settlement is in cash, then this could mask serious problems in the market (until it fails). Just thinking here

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The regulators don't regulate anymore.

With short selling in stocks the broker loans you the shares to do the shorting as I understand it (never done it myself) and if the price goes down you buy back the shares and pocket the spread. When the kerfuffle with Gamestop a few weeks ago there was a short position of 140% of the outstanding shares. That is impossible to do as 40% of those shares don't even exist. So you know big time laws were being broken by the hedge funds that were short.

When they do that with gold/silver futures the metal doesn't exist to fulfill the contracts. They just bet on the fact that the vast majority never take delivery of the metal so they settle with cash. I don't know what the ratio is now but at one point I think there were over 300 ounces of paper gold futures being sold on the Comex for every one ounce of real gold that could be eligible for delivery.

With the Bitcoin I haven't looked into it enough to know how much money they have to put up against each futures contract but in this case how can you even call it a futures contract when they are not required to deliver the Bitcoins? They can issue contracts with absolutely no Bitcoin to back it up and just do cash settlement according to the specs.

With the power of the banksters and the unlimited cash they can print out of thin air they can let the air out of Bitcoin anytime they want to. And looking back at Bitcoins chart since it's inception it was a rather orderly market until they allowed futures contracts in BTC and at that point you knew the writing was on the wall. A lot of people got in around the top at 19K and took out loans to play with Bitcoin and many people were ruined.

I hope they learned their lesson from the last time. For a lot of people greed takes over and it's real hard for them to take their profits off the table and get out with Bitcoin rising a few thousand dollars every day. We've got the pump and the dump is still future.

Oft heard at my old schoolhouse - "Be good. But if you can't be good, DON'T GET CAUGHT."

Hfcomms said:

The regulators don't regulate anymore.

With short selling in stocks the broker loans you the shares to do the shorting as I understand it (never done it myself) and if the price goes down you buy back the shares and pocket the spread. When the kerfuffle with Gamestop a few weeks ago there was a short position of 140% of the outstanding shares. That is impossible to do as 40% of those shares don't even exist. So you know big time laws were being broken by the hedge funds that were short.

When they do that with gold/silver futures the metal doesn't exist to fulfill the contracts. They just bet on the fact that the vast majority never take delivery of the metal so they settle with cash. I don't know what the ratio is now but at one point I think there were over 300 ounces of paper gold futures being sold on the Comex for every one ounce of real gold that could be eligible for delivery.

With the Bitcoin I haven't looked into it enough to know how much money they have to put up against each futures contract but in this case how can you even call it a futures contract when they are not required to deliver the Bitcoins? They can issue contracts with absolutely no Bitcoin to back it up and just do cash settlement according to the specs.

With the power of the banksters and the unlimited cash they can print out of thin air they can let the air out of Bitcoin anytime they want to. And looking back at Bitcoins chart since it's inception it was a rather orderly market until they allowed futures contracts in BTC and at that point you knew the writing was on the wall. A lot of people got in around the top at 19K and took out loans to play with Bitcoin and many people were ruined.

I hope they learned their lesson from the last time. For a lot of people greed takes over and it's real hard for them to take their profits off the table and get out with Bitcoin rising a few thousand dollars every day. We've got the pump and the dump is still future.

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And when they allowed speculation (futures) and derivatives, it was easy to figure out who was behind the curtain.

I don't have a greed problem, but I am wary of pump n dump. Oldest game since ever.

When countries have severe money troubles, they always outlaw PM's. Why is that? Because they cannot control people from trading amongst themselves with the gold and silver.
Governments can certainly prevent crytos from being used.

Melodi said:

Most small businesses and even relatively large ones can't survive for two years without commerce, so I am waiting to see who buys up what. As I told my husband last year, "if they are not careful we will live in a world with no small retailers at all, just Tesco and Amazon." In the US you can substitute Walmart for Tesco...

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And that is the point of it all.

She is spot on about crypto.

TPTB have been helping pump the market to these insane heights for several different reasons but the main one is to get people used to digital currencies. Once they launch their own digital dollar they will crush the Bitcoin market. Everything else will follow.

It could happen soon or somewhere down the road. It feels close (2021-2022).

Pumping the crypto space also works as a great wealth transfer tool for them. They are sucking in so much money and at some point will cash out.

BassMan said:

I always listen to her interviews, and even subscribed for a while. She seems spot-on for the most part, but lost me on the vaccines. She said they were installing an “operating system” into us, that would control us. Perhaps I underestimate technology and transhuminist intent, but between that and a few other things I read when subscribed, she does seem to have a few controversial viewpoints.

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Maybe she said that because that's what Moderna as well as others have called this....an "Operating System".

In fact, Moderna refers to their mrna vax as "Our Operating System".

Recognizing the broad potential of mRNA science, we set out to create an mRNA technology platform that functions very much like an operating system on a computer. It is designed so that it can plug and play interchangeably with different programs. In our case, the "program” or “app” is our mRNA drug - the unique mRNA sequence that codes for a protein.

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Well if y'all believe in the mark of the beast, where without the mark you cannot buy, trade, or sell, then the leap into crypto's make sense. Some believe that the beast will be fully implemented by 2030, which makes sense with all of the climate change idiots screaming that life on earth is going to end in 2030.

bassaholic said:

She is spot on about crypto.

TPTB have been helping pump the market to these insane heights for several different reasons but the main one is to get people used to digital currencies. Once they launch their own digital dollar they will crush the Bitcoin market. Everything else will follow.

It could happen soon or somewhere down the road. It feels close (2021-2022).

Pumping the crypto space also works as a great wealth transfer tool for them. They are sucking in so much money and at some point will cash out.

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Debit/Credit/EBT cards was the start, then things like apple pay, paypal, square, further paved the way, so cryptos make perfect sense.