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Your host for this seminar is Catherine Austin Fitts, president of Solari, Inc. and successful Wall Street and Washington DC investment banker. For an overview see the Seminar Description and Course Outline below. For a quick rundown on how our audio seminars are conducted, see How Solari Audio Seminars Work. You are encouraged to do the Recommended Reading before or after listening to this audio seminar, and, as time allows, to enhance your understanding even further via the Additional Links listed below. Most seminars close with a brief invocation.



This audio seminar was recorded live on July 12, 2005.

Do you know who is your banker is? Do you know what your banker is doing with your money right now? The corruption and violence we are witnessing today could only be happening with the complicity and leadership of the major banks. When we do business with these banks, we are "voting with our money" to finance the Wall Street-driven government and financial policies we say we despise.

We have the power to transform events by making some simple choices about who we bank with on Main Street. According to Catherine Austin Fitts, former Assistant Secretary of Housing during Bush I and successful Wall Street investment banker, this is the single most effective action that consumers can take to clean up government and dirty money.

In this audio seminar, Catherine:

  • Illuminates the relationship between our banks and growing corruption
  • Identifies the "Tapeworm Banking 20" – our vote for the 20 worst offenders
  • Walks you through how to affirm your existing bank or choose a new local bank or credit union
  • Describes why a small number of people shifting their deposits locally can have a dramatic impact in a highly leveraged financial system
  • Explains why the first step toward decentralized energy solutions and new job creation is to decentralize our bank deposits.

Our financial system is highly leveraged. That means it only takes a shift of 1% of 1% of banking customers to start to create powerful – and profitable – change in the system.

Come join us for "Where Would Jesus Bank (And Other Good Folks Too)?" and get ready to know who your banker is and to be proud of what they are doing with your money!

(Part A)

    1. Introduction - Our host, Harry Blazer

    2. What is the Banking System and How Does it Work?

    3. How the Banking System Is Draining Us
      • Dirty Banking with the Government/Securities Fraud
      • Moving Jobs Abroad
      • Fraudulent Inducement of Debt / Predatory Lending with Mortgages, Credit Cards and Consumer Loans
      • Narco Dollars and Money Laundering
      • Compromise of Private Data
      • Market Manipulations – Gold, Enron
      • Dirty Tricks / Economic Warfare Against Small Business
      • Fraudulent Trustee Practices
      • Fiat Currency

    4. Introducing the U.S. Banking Tapeworm 20

    5. How to Find the Local Bank for You

      a. Special guest Peggy Stuart provides a case story of how to find a local bank.
      Peggy is a minister, spiritual healer and teacher, and member of the Solari Team.

(Part B)

b. Catherine walks us through the process.
See also How to Find a Local Bank for detailed step-by-step checklist.

  • Identify Local Banks
  • Collect Information and Recommendations
  • Leadership
  • Owners
  • Trustees/Governance
  • Management
  • Customers
  • Strategic Relationships
  • Review Financial Statements
  • Locations and Services
  • Fees and Costs
  1. A Successful Switch – How Good it Feels

  2. Should I Bank by Mail?

  3. Should I Bank Offshore?

  4. Reducing Our Dependency on Banks

  5. Gathering Political Power through Our Deposits and Banking Business

  6. Question & Answer Period

  7. Invocation by Peggy Stuart

U.S. Banking Tapeworm 20

Following is Solari's list of the 20 best banks to flush from our lives in the U.S. In 2004 alone these 20 banks reaped $89 billion in net income, while in the same year U.S. households ran a deficit of $342 billion [2]. Think what could happen if we turned the tables?

1. Bank of America
2. Bank of New York
3. Barclays
4. BB&T
5. Citibank/Citigroup
6. Citizens
7. Credit Suisse
8. Deutsche Bank
10. JP Morgan Chase
11. Mellon
12. Merrill Lynch
13. PNC
14. Royal Bank of Canada
15. State Street
16. Sumitomo
17. SunTrust
18. UBS
19. Wachovia
20. Wells Fargo

This seminar is inspired by both the article "Where Would Jesus Bank?" by Catherine Austin Fitts, published by Scoop Media, July 4th 2004, and by the heartwarming response from our network members.

See also the companion handout How to Find a Local Bank which guides you through the process step by step. For a little background on our use of the terms "The Tapeworm" and "Tapeworm Economics" see The Real Deal on the Tapeworm Economy.

In addition, check out definitions of basic terms from the Wiikpedia online encyclopedia to fill in some important basics about banking:
 1. Bank - http://en.wikipedia.org/wiki/Bank
 2. Credit Union - http://en.wikipedia.org/wiki/Credit_Union
 3. Debt - http://en.wikipedia.org/wiki/Debt
 4. Fiat Currency - http://en.wikipedia.org/wiki/Fiat_currency
 5. Offshore Bank - http://en.wikipedia.org/wiki/Offshore_bank

General Purpose

  1. The Credit Union National Association

  2. Independent Community Bankers of America

  3. The Bank Director's Handbook
    The Board Member's Guide to Banking and Bank Management
    by Benton E. Gup

  4. Black Money
    by Michael Thomas, St. Martins, 1995

  5. Dictionary of Banking Terms
    by Thomas P. Fitch, Barron's Educational Series, 2000

  6. The Creature from Jekyll Island: A Second Look at the Federal Reserve
    by G Edward Griffith, American Media, 1998

  7. "Money Makes the World Go Round"
    ZNet Interviews Barbara Garson, October 18, 2002

Audio Seminars and Links on
How the U.S. Banking Tapeworm 20 Drains Us

  1. Solari Audio Seminars available at:

    • Precious Metals Miniseries
    • Navigate the Falling Dollar
    • Navigate the Housing Bubble
    • Narco Dollars for Beginners
    • The Real Economic Hit Men

  2. It's a Wonderful Life
    Movie starring Jimmy Stewart and Donna Reed


  1. Where is the Collateral? by Chris Sanders, October 2003
    & So Where is the Collateral? by Chris Sanders, July 4th 2004

  2. "The Story of Edgewood Technology Services" Parts 1-3
    by Catherine Austin Fitts

  3. Missing Money – Articles and Documents
    Complied by Solari

  4. "The Myth of the Rule of Law"
    by Catherine Austin Fitts

  5. "Piracy on the Delaware"
    by Catherine Austin Fitts, May 20, 2004

  6. "The Negative Return on Investment Economy: A Discourse on Americas Black Budget"
    by Chris Sanders and Catherine Austin Fitts

  7. "Households Run Record $342 Billion Deficit! The Northern Trust Company Economic Research Department, October 2004
    See also Northern Trust's library of related articles:

  8. "The Real Deal on Enron" – An Interview with Catherine Austin Fitts
    by Daniel Armstrong

  9. Real Deal: A Letter To John D. ''Jerry'' Hawke Jr. (then Comptroller of the Currency, U.S. Treasury) from Catherine Austin Fitts, June 2004

  10. "The Real Deal: The Ultimate New Business Cold Call" NYSE Chief Pitches
    Colombian Rebel Forces,
    Scoop Media, February 2002


U.S. banks are subject to significant amount of regulation. In essence, international and national central banking and government agencies – through their lending policies, reserve requirements, and regulations, effectively control all banks, big and small.

  1. Wikipedia: Federal Deposit Insurance Corporation (FDIC)

    Chart: Number of FDIC Institutions 1990 - 2004
    Shows increasing consolidation and centralization

  2. Wikipedia: Federal Reserve (The "Fed")

  3. Wikipedia: U.S. Department of Justice

  4. New York Federal Reserve Bank
    Depository for the U.S. Government and Manager of the Exchange Stabilization Fund

  5. Wikipedia: The National Credit Union Administration

  6. Wikipedia: Office of Comptroller of Currency

  7. Web site: Office of Thrift Supervision

  8. Web site: BIS – Bank of International Settlements
    Basel Committee on Banking Supervision

  9. Wikipedia: G-8

Other Government Agencies and Sponsored Enterprises

U.S. Banks depend on a number of government agencies and government-sponsored enterprises to provide secondary markets for mortgage and student loans.

  1. Wikipedia: Fannie Mae

  2. Wikipedia: Farmer Mac

  3. Wikipedia: Federal Home Loan Bank System

  4. Wikipedia: Freddie Mac

  5. Wikipedia: Ginnie Mae

  6. Wikipedia: Sallie Mae (charter ended 2004)

Rating Services

  1. Standard and Poor's

  2. Weiss Ratings – Strongest and Weakest Banks and Thrifts

Additional Background

These Solari Audio Seminars by Catherine Austin Fitts provide an excellent context:

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More on Catherine and the Solari Team



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Disclaimer: Nothing in this Solari Audio Seminar should be taken as individual investment advice. Anyone seeking investment advice for his or her personal financial situation is advised to seek out a qualified advisor and provide as much information as possible to the advisor in order that such advisor can take into account all relevant circumstances, objectives, and risks before rendering an opinion as to the appropriate investment strategy.


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