“I’m living so far beyond my income that we may almost be said to be living apart.” ~ E.E. Cummings
By Catherine Austin Fitts
This week on the Solari Report, we publish the first of a two part conversation with Dr. Joseph Farrell on the relentless growth of global debt.
This topic could not be more timely. Last week, the Federal Reserve softened their guidance on anticipated interest rate rises – but reminded global markets that such rises were coming. With sovereign governments around the world carrying high levels of debt, rising interest rates will pull the leash of the dollar “control system.” The question is when and how hard. There is the reason that global institutions from the IMF to the UN are talking about “global debt restructuring.” The folks who own and control the debt are rewriting the rules.
This is a 360 degree discussion – Joseph and I look at the geopolitics and meaning of debt as it functions in the real financial system. This includes the hidden system of finance and black budget that funds the growing national security state and is driving the explosive cocktail of “game-changing” technology, the re-balancing of the global economy and the unraveling of the Post WWII system of global trade. For excellent background for this discussion, I recommend Dr. Farrell’s and my presentations at the Secret Space Program as well as several recent studies on the state of global debt – see links posted in the subscriber area.
Financial commentators often talk about debt and the fixed income markets as though debt is a financial and economic phenomenon. We need to start looking at debt as a vehicle of governance and control – as a tool of economic warfare; as a tool that makes war feasible on a grand scale. To help you evolve your understanding of the debt system, I recommend a movie reviewed previously in Let’s Go to the Movies – The International.
In this 2009 action thriller an Interpol agent attempts to expose a high-profile financial institution’s role in money laundering, assassination and international arms dealing designed to engineer the overthrow of sovereign governments. The movie demonstrates how debt and war dovetail in the “central banking-warfare model” to create control. My favorite scene is when the Italian weapon manufacturer explains to the Interpol agent how the system works and why a large global bank is brokering arms:
“The IBBC is a bank. Their objective isn’t to control the conflict, it’s to control the debt that the conflict produces. You see, the real value of a conflict, the true value, is in the debt that it creates. You control the debt, you control everything. You find this upsetting, yes? But this is the very essence of the banking industry, to make us all, whether we be nations or individuals, slaves to debt.”
This is the last week of the month, so no Money & Markets this week!