Special Report: The Vatican Hires an Auditor & the Reinvention of Everything

By Catherine Austin Fitts

Every few weeks I see a headline that rocks my world. These headlines often describe events that other people find mundane, or unimportant. However, for me they speak to important financial “trim tabs.” A “trim tab” is tiny rudder that turns the rudder.

Last week, when I read that the Vatican had hired EY, the former Ernst & Young, I sat back in my chair. Who would have thought that such a thing could happen? Pope Francis had ordered that the Vatican Bank publish an annual report, which it did in September. Another event that caused me to sit back in my chair and meditate about deflation and the speed of change. Could making all the knowledge in the Vatican Library accessible to the public possibly be next?

This weekend I stopped to see Dr. Joseph Farrell on my return drive to Tennessee. One of the many reasons I value discussing events with Joseph is that his command of history and understanding of the nature and organization of power is so deep. We started discussing the Vatican’s decision to engage an outsider auditor – particularly a firm headquarter in London that audits the Bank of International Settlements in Switzerland and Lloyds of London. This means that the formal organization representing arguably the most powerful pool and networks managing intergenerational equity investment (the Vatican) is sharing an accounting firm with the central banks central bank (the BIS) which is leading the evolution to a global currency as well as with the most powerful market maker of global insurance, reinsurance and risk management (Lloyds.) Are the institutional governors of equity, debt, currency and risk “drawing nigh” to each other?

What is the meaning of this? Of course, we don’t know. However, Joseph and I decided to record our discussion so we could engage our subscribers in exploring this development. For me this is another of a growing number of tell tale signs that the central banking -warfare model has run its course and the traditional leadership is realigning in the search for new models.

Related Reading:

Trim Tab

Lloyd’s of London

Putin and Pope Francis’s First Meeting Focuses on Christians’ Plight in Mideast

Say What? The Vatican Bank Hired an Auditor!?!?

Ernst & Young

Bank for International Settlements

Vatican Embassy Move Draws Fire From Former US Envoys


  1. Struggling to say this without being rude. Listening to this, still in the first half, frustrated with Joseph’s disregard of Catherine and his barely restrained talking-over of her expressed thoughts. Whilst the factual knowledge of Joesph’s mind is interesting, it is Catherine’s analytic ability i am always waiting to hear, so when she is pressured to finish talking quickly, or talked over, it is incredibly frustrating. To hear Joseph out of breath in the small gaps he allows Catherine to speak, knowing she can take care of herself, but feeling the need to say this anyway. These are fascinating talks none-the-less and i don’t want to have to avoid Joseph in future.

  2. Peter:

    I must say I find Joesph to be highly collaborative. I had stopped by to see him and had an unloaded a whole series of financial insights that had inspired all sorts of thoughts on his part – and then I went and got my recording equipment. So I think what you are hearing is the excitement that he was feeling.

    You should check out my series called “Promoting women” – Part V goes up tomorrow afternoon.

    Always appreciate the feedback!


  3. Catherine,

    Embarrassed, but not enough to avoid more thoughts/feedback in future. Will check out the series you mentioned once i finish listening to the series of 10 audios from the talk you had with Bonnie.



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