WHERE WOULD JESUS BANK?

[Guest guest]

http://www.scoop.co.nz/mason/stories/HL0407/S00040.htm

 

Mapping the Real Deal:

WHERE WOULD JESUS BANK?

 

by

Catherine Austin Fitts

July 4th, 2004

 

" And Jesus went into the temple and began to cast

out them that sold and bought in the temple, and

overthrew the tables of the money changers "

 

-- Mark 11:15

 

I think of Jesus as a real deal, straight up kind of guy who always

cared deeply about his fellow man. That's why we often ask " What would

Jesus do? " when looking for the action of highest integrity.[1]

 

Jesus and the Bankers

 

Jesus acted with ferocious and bold integrity when he threw the money

changers out of the temple. Needless to say, he hiccuped their cash

flows on what otherwise would have been a big grossing day. Their

business model threatened, the priests who managed the money changers

insisted that the Romans crucify Jesus. The Romans tried to pawn the

problem off on the local king, Herod, who ducked and sent Jesus back

to the Romans. The Romans, still looking for a way out, tried a

flogging. That did not work. The priests meanwhile had succeeded in

persuading the crowd to support them and scapegoat Jesus. Thirsting

for a crucifixion, the crowd voted to set the criminal Barabbas free

instead of Jesus.

 

Jesus died because the crowd voted for the criminal enterprise. The

crowd voted for the priests and their rich endowments and their

alliance with the money changers. The crowd did not ask " Cui Bono? "

which is Latin for " who benefits? " If they had, they would have seen

the real deal on who was making money on the death of Jesus and voted

with their conscience, and for their own best interests instead.

 

It's 2000 Years Later and We're Still Voting for the Criminals

 

Looking around today, it would appear that more than two thousand

years later our popular vote is still backing an unholy alliance of

" priests " and their rich endowments,[2] " money changers " (now called

central bankers), criminal enterprises[3] and the continuous growth of

dirty money, market manipulation and warfare.

 

The 1990s was a period in which the illumination of the dirty money in

American politics and business really came out of the closet. The

stories of the 1980s Iran Contra period financial fraud and of

government conspiring with private industry in illegal weapons deals

and drug trafficking to fund a secret government became widely known,

starting with Senate hearings that were broadcast world wide. National

Security Council involvement during the 1980s exploded onto the

Internet with the " Dark Alliance " series published in the San Jose

Mercury News in 1996 and tales of Bush and Clinton involvement in the

illegal arms-trafficking and cocaine transshipment operation in Mena,

Arkansas.[4] Stories proliferated about dirty dealings by member banks

of the New York Federal Reserve (the US Treasury depository) with the

Arkansas state agency that distributed housing subsidies and issued

housing bonds and that was alleged to have been laundering the local

share of the profits.

 

Although the mainstream media, led by The New York Times and The Los

Angeles Times, attempted to discredit them, several fearless news

sources kept the Dark Alliance and Mena stories alive. Two CIA

Inspector General reports essentially confirmed the credibility of the

Internet press which continued to cover the story.[5] These Inspector

General reports included a memorandum of understanding between the CIA

and the US Department of Justice ( " DOJ " ) that relieved the CIA of any

obligation to report illegal activities, including narcotics

trafficking by non-employee agents and contractors of the CIA.

 

Since that time, I have had the opportunity -- as an investment banker

and former Assistant Secretary of Housing responsible under both Bush

I and Clinton Administration for the cleanup of some of the S & L,

mortgage and real estate related fraud and money-laundering schemes --

to learn more about the black budget business model used in these

criminal enterprises.[6] Simply put, we are living in a negative

return on investment economy. This means that from the point of view

of most people on the planet, the dolphins, the trees and all living

things, the world is worse off for our centralized human economic

activity, at the crux of which are the central banks and the

military-industrial complex they finance.

 

The good news is that we have the power to transform this economy.

This power comes in the form of each and every dime we spend in the

marketplace.

 

Who Will Push the Red Button?

 

In 2000, I made a presentation on the subject of " dirty money " to a

wonderful group of about 100 people gathered outside of Philadelphia

to affirm and explore their commitment to the spiritual evolution of

our culture. During my talk, after walking the group through an

analysis of the enormous profits generated by narcotics trafficking,

financial fraud and other types of organized crime, as well as the

reinvestment of this money in the stock market and campaign war

chests, I asked the members what would happen to the stock market if

we decriminalized or legalized drugs and thus seriously adversely

affected the narco profiteering business.

 

The stock market would crash, they responded.

 

What would happen to the government's ability to borrow more money to

finance the deficit if we enforced all money-laundering laws and, as a

result, $500 billion to $1 trillion of annual laundered funds no

longer moved through the US banking system?

 

If the government could not finance its operations by borrowing money

at low cost, their taxes might go up. Worse yet, their government

checks might stop as government program expenditures were cut, they said.

 

I then asked them to imagine a big red button at the front of the

lectern. By the power of their imaginations, if they pushed that

button they could stop all organized crime and money laundering in the

United States.

 

Who would push the button?

 

Only one person in that audience of 100 people committed to

spiritually evolve our society said they would push the button.

 

Upon reflection, 99 would not. I asked why. They said that if they

pushed the button, the value of their mutual funds would go down,

their taxes would go up and their government checks might stop.

 

I commented that what they were proposing was that an entire

infrastructure of people continue to market hard narcotics to their

children and grandchildren to maintain the value of their mutual and

pension funds.

 

They said, yes, that was right.

 

Such popular support for cheap financing from dirty money goes well

beyond this candid audience. Indeed, most of us are party to

maintaining this negative ROI economy.

 

The future of our democratic freedoms depends on our adopting

financially responsible and profitable strategies to collectively

" push the red button " in a way that makes our world better instead of

worse. Such strategies do exist. These are actions we can take

immediately both individually and collectively at the grassroots. Are

you ready to push the red button?

 

The process for individuals starts with adopting a personal intention

to transform our world. We have the power to take personal

responsibility to learn how the money works in our neighborhoods and

our lives and workplaces, and then take steps to cleanse the money in

our control. In short, it's time to electrify the power of our

intention with the power of our transactions.

 

Each dime we spend is a " vote " in the marketplace. We can vote with

the temple priests or we can vote with our consciences for leaders and

businesses that demonstrate through their daily transactions and

decisions that they truly care. What an enormous opportunity we have,

if each one of us will switch our votes. After several thousand years,

there is no time like the present to start voting for ourselves and

our planet instead of with the money changers and temple priests that

feed at their monetary and lending troughs.

 

Who's Who in Stealing Our Money

 

 

Click for big version

As privatisation has increased, so has debt. The taxpayer gets the

liabilities, and Bob & Co. get the assets (Bob Rubin is former

Treasury Secretary, now co-head of CitiGroup).

Great work if you can get it!

- Image SandersResearch.Com

 

Before we choose which banking and other financial institutions to

vote for, let's take a quick look at the candidates.

 

Increasingly, our US government assets are being transferred or

outsourced to global private interests – typically at below market

values that constitute windfall profits for undisclosed private

investors.[7] For example, HUD routinely resolves defaulted mortgages

using methods that generate significantly lower recovery rates than is

standard in the mortgage industry.[8] This effectively amounts to a

back door transfer of billions of dollars to special interests from

all homeowners who bought Federal Housing Administration mortgage

insurance to finance their homes.[9] As government mortgage guarantees

encourage financial institutions to stop caring about the health of a

place, the real estate values and community safety in neighborhoods

throughout America decline, with more neighborhoods experiencing

deterioration of services such as schools, along with a rise in

criminal activities such as narcotics trafficking.

 

As neighborhoods experience more foreclosures and longer periods when

foreclosed homes are empty, the value of surrounding homes and

properties suffer further.

 

Examples abound on the international playing field as well. BBC

reporter Greg Palast's revelations about the reasons for the

resignation of World Bank executive Joe Stiglitz have exploded the

myths about international privatization, describing the IMF and World

Bank roles in forcing below market transfers to Enron, such as the

water system of Buenos Aires and the pipeline that runs between

Argentina and Chile.[10]

 

Harvard University, funded as a financial advisory contractor under

contracts between Russia and the US Agency for International

Development, arranged auctions of Russian government-owned companies

to international investors, including members of the Harvard network

and its endowment, at below market prices.[11] After this process of

" privatization, " the number of people living in poverty in the former

Soviet republics rose from 14 million in the early 1990s to 147

million.[12] In the meantime, Harvard's endowment -- compounding at

tax exempt rates -- exploded in value from $4 billion to $18 billion.[13]

 

Meanwhile, these same global private interests are transferring their

liabilities back to government. When DynCorp employees engage in sex

slave trading with local mafia in Eastern Europe or use the War on

Drugs as a pretext to grab land for rich investors and local elites in

Latin America while being paid from government contracts, the

reputation, pocketbook, and spiritual health of America suffer along

with the intended victims.[14] While the likes of Long Term Capital

Management and the unnamed private holders of their derivative

positions are bailed out, US federal debt and credit are skyrocketing,

along with consumer debt and the US trade deficit.

 

Meanwhile, there is over $3.8 trillion missing from our government

accounts.[15] This translates to approximately $14,000 per American

resident. To date, under four Treasury Secretaries – Rubin, Summers,

O'Neill and Snow – the federal government has failed to comply with

the laws requiring audited financial statements, and failed to make

any significant effort to find or get back the missing money. [16]

Where is all this money going, and who/what is being hurt in the

process? What does this mean to the environment, current citizens and

future generations who are footing the bill?

 

The answer is that innocent people around the world are assuming those

liabilities. And the leadership within the banking system is in charge

day-to-day of implementing the majority of these transfers.

 

The Banking System is at the Crux

 

 

Frequency of usage of terms " transparency " and " privatisation "

in web-stored documents in Google universe. Contrast this with

the growth of US net foreign debt in the above chart...

- Image SandersResearch.Com

 

The US currency is managed by the Board of Governors of the Federal

Reserve System, itself comprised of twelve privately owned Federal

Reserve Banks, including the Federal Reserve Bank of New York, which

in turn serves as depository for the US government bank accounts. The

member banks that own and control the individual Federal Reserve Banks

have received extraordinary credit and information subsidies through

the governmental apparatus.

 

If you review a list of the leading banks in the Federal Reserve

System that are involved as depositories, trustees, servicers or

securities dealers in the US agencies missing more than $3.8 trillion:

 

# It's the same banks whose names appear in allegations of gold

market manipulations.[17]

 

# It's the same banks whose engineered Enron offshore deals.[18]

 

# It's the same banks implicated in 9/11 profiteering.[19]

 

# It's the same banks implicated by the big narcotics and arms

trafficking and money laundering allegations.[20] .

 

# It's the same banks implicated directly or indirectly in the " pump

and dump " and naked short selling stock market schemes.[21]

 

# It's the same banks implicated in black budget government

contracting and collateral schemes and the fraudulent asset stripping

of our great manufacturing enterprises.[22]

 

# It's the same banks that are managing the huge derivative

positions that are increasingly used to manipulate markets and drive

monetary and fiscal policy.[23]

 

# It's the same banks whose senior management, attorneys and

accountants cycle in and out of the top government jobs at the

agencies missing $3.8 trillion.[24]

 

# It's the same banks that tell you that small business loans are

not good business.

 

 

Click for big version

Cui Bono? - Was the 9/11 response good for Citicorp's investors?

 

 

Click for big version

Sketch Of A Syndicate

- Image SandersResearch.Com

 

Banking Over Lunch

 

In 1993, in an attempt to obtain a small business loan for my

business, I had lunch with the head of corporate lending in the DC

area from a large multinational bank. He explained that his bank had

no plans to make small business loans of any meaningful volume in the

District of Columbia.

 

I had checked the bank's latest SEC filings that morning. It had

approximately $110 billion in long Treasury bonds on its balance sheet.

 

Essentially, the American taxpayers were providing this bank with the

mechanism to borrow short term at a low price using the credit of the

American people through federal deposit insurance, and then use those

funds together with our deposits to lend those very same funds to our

government long term at a 550 basis point spread.[25] The bank had a

recourse guarantee of our taxpayer credit by investing in US Treasury

securities which are guaranteed by the full faith and credit of the US

government, and refused to lend to my small business because it was

not good enough business for the bank.

 

I estimated that this particular bank would reap $6 billion in risk

free profit that year alone by inserting itself as an unnecessary

intermediary -- between businesses and individuals as depositors and

guarantors, and the very same businesses and individuals in their

capacities as US taxpayers financing the US Treasury " deficit. " The

net result was that my taxes were financing my government " funneling "

billions of dollars in back door profits to large banks, while I and

my fellow citizens who were backstopping the FDIC and US Treasury

credit that made it all possible were forced to go elsewhere to

finance our small businesses.

 

To add insult to injury, government leaders such as Bob Rubin (former

Treasury Secretary now co-head of CitiGroup) and Franklin Raines

(former Director of the Office of Management and Budget and now

Chairman of Fannie Mae) have explained that the government could not

afford to finance parks, roads and schools because, instead we needed

to pay the interest on the growing national debt. In fact, the

" national debt " argument was a ruse. The actual intended use for

American taxpayers' hard earned money dedicated, nominally, to

" reducing the national debt " was the financing of billions dollars of

back-door, rigged subsidies to banks and mortgage market players who

have made Rubin and Raines so rich.

 

And why should your children have to sign up for military service just

so they can pay off their student loans, while at the same time $3.8

trillion is missing from the US government? Why can't your children's

educations be financed by our tax dollars? Investing in education is

the best thing we can do for our economy. Indeed, Peter Drucker notes

that the GI Bill was perhaps the most profitable taxpayer investment

of the 20th century. Why should you lose your home or small farm to

foreclosure by the banks that are complicit in $3.8 trillion missing

from the federal government? Are you earning 2% on your bank

certificate of deposit while your neighbors are paying interest at 18%

to Citibank or the IRS?

 

At the Top of My List

 

Here is the " Dirty Dozen Plus " list of primarily US-based banks and

financial institutions that I would immediately withdraw my support

from based on personal knowledge and experience:

 

- American Insurance Group

- Bank of America

- Bank of New York

- BBT

- Citibank/Citigroup

- Credit Suisse First Boston

- Deutsche Bank

- FleetBoston

- General Electric

- Goldman Sachs

- HSBC Bank

- JP Morgan Chase

- Mellon Financial Corporation

- Merrill Lynch

- PNC

- SunTrust Banks

- Wachovia Bank

 

I would also check to see who the lead member banks are in my Federal

Reserve District and include them on your list.[26]

 

If you have been complaining about corporate America overpowering our

democracy, check and see if you are also doing business with one or

more of these banks.

 

Who's Who on Outsourcing Our Jobs

 

I would also look at withdrawing support from those banks involved in

outsourcing jobs to other countries while withdrawing financing for

jobs in our communities. Enticed by significantly lower tax burdens

and labor costs, as well as a free reign in labor exploitation, more

and more companies are joining the bandwagon of job exports while

supporting policies that prevent the creation of new jobs domestically.

 

On one hand, many Americans are losing their jobs and either have no

means of income or support, or they settle for reemployment at wages

insufficient to make ends meet. Their communities are suffering

diminished quality of life from lower tax collections, higher crime

rates, decreased health, low morale and the family and community

problems that unemployment and underemployment cause.

 

On the other hand, their lucky neighbors who still enjoy nice incomes

– often coming directly or indirectly from the profits of outsourcing

-- promote the notion that such outsourcing is the natural flow of

free markets optimizing economic performance. Alas, I wish it were true.

 

Analysis of the financial institutions that are the power behind the

throne at the New York Federal Reserve and the US Treasury reveals a

pattern of dirty tricks to: (1) stop policies that would permit the US

work force to reengineer their skills;[27] (2) prevent the flow of

equity capital to small business;[28] (3) subsidize themselves with

insider trading and risk free federal credit profits; (4) maintain

complicity in the trillions of dollars missing from the federal

government;[29] and (5) prevent place based transparency of government

budgets and credit activity that would reveal their complicity.

 

This is not free markets at work – this is the use of insider

dealings, cronyism, undue influence, political favoritism based upon a

corrupt campaign finance system, and misuse of the federal credit, not

to mention black budget and covert operation activities, to profit

from the destruction of free markets.[30]

 

Lou Dobbs at CNN has been keeping a list called " Exporting America " of

companies that outsource US jobs abroad, including the following

banks.[31] Here are the banks on the Dobbs' list:

 

- Bank of America

- Bank of New York

- Bank One

- Citigroup

- JP Morgan Chase

- Mellon Bank

- SunTrust Banks

- State Street

- Sovereign Bank

- Wachovia Bank

- Washington Mutual

 

If you have been complaining about outsourcing of US jobs and you are

banking at one of these banks, you need to go into your bathroom and

look in the mirror. That is the person who is financing the

outsourcing of US jobs.

 

When You Steal From Me, It's Personal

 

Someday someone will calculate the true cost to our families, our

communities, our collective spirit and our environment worldwide,

inflicted by this negative ROI economy. In the meantime, we can assume

that the cost is somewhere between significant and staggering. In

other words, the cost to you personally, to me personally, to each of

our families, is significant.

 

This first hit me several years ago when I was working in an official

capacity for HUD (the US Department of Housing and Urban Development)

and had experienced first hand the affects of fraud and corruption. A

Congressional staff member told me, " HUD is being run as a criminal

enterprise. " Indeed, in fiscal 1998 and 1999, $17 billion and $59

billion respectively were officially reported as missing from HUD.[32]

 

I realized then that I was banking at the same banks I believed to be

intimately involved in running HUD's extra curricular activities. I

realized that my own banks and others that I had done business with

were directly or indirectly costing me and my family a small fortune

when I took into account my relationship with them as a citizen and

taxpayer and their role as depositories and servicers for my

government's financial dealings.[33]

 

It seemed to me that the least I could do was to try to clean up my

own money. I decided I would learn how to " vote " with my money in the

marketplace with all my transactions, including purchases, investments

and banking relationships. I would start by withdrawing my money from

the banks that were running my government's bank account and

securities operations in a corrupt manner at great expense to my

family and me. I would shift my deposits to banks and companies that

were trying to do something beneficial on Main Street.

 

I closed my accounts at Citibank and JP Morgan Chase and moved my bank

deposits to a community bank in Tennessee.

 

If Acting With Your Conscience Isn't Enough, Consider the Pricing

 

Since that time I have traveled around this and other countries

speaking and networking with thousands of people. What I hear wherever

I go is that we are voting in the marketplace as consumers for the

very banks whose actions we say we detest.

 

How many times have I heard activists tell me that they cannot switch

their bank accounts to well-managed local banks because their ATM fees

would increase or their interest on savings would decrease?

Apparently, we are prepared to finance and support a group of banks

complicit in stealing $14,000 per American resident from the federal

government so long as they kick back $25 a year to us in the form of

saved ATM fees and incrementally higher interest rates. It's one thing

to be apathetic and go with the convenient flow of dirty money. It's

another thing entirely to fail to price your kickback at anything

close to a free market level. If someone steals $14,000 from you and

then kicks back $25, do you continue to support them? Apparently, the

answer is " Yes. "

 

The day we understand the power of our opportunity to decentralize and

" re-price " our banking business by taking it away from the Wall Street

banks listed above, and banks like them, something magical can start

on Main Street.

 

Care to Join Me in Switching Banks?

 

On July 4th, 2004, my colleagues and I are launching the Solari

Circles Campaign. Initially, we are calling for 600,000 people

worldwide to join us in closing our checking accounts, certificates of

deposit, credit cards and other business out of the banks complicit in

dirty money scandals and moving them to local, well-managed,

community-friendly banks, savings and loans and credit unions.

 

Why 600,000? We estimate that 600,000 is 1% of 1% of our worldwide

population. Since our financial system is highly leveraged, a

relatively small shift (on the order of 1% of 1%) in customers from

big banks to local financial institutions can cause a dramatic

decentralization in political and economic power.

 

As a former partner and member of the board of directors at a major

Wall Street investment bank and then Assistant Secretary of Housing in

the first Bush Administration, I am amazed when people tell me that

they feel helpless or that they have no power. I know from personal

experience that we have significant power as consumers to impact the

policies of financial institutions that exercise so much control over

our government and communities. I know what can happen the minute even

a small group of consumers starts " voting with our money " in the

marketplace.

 

I also know that we can actually make money by " pushing the red

button. " In financial terms, if we finance communities with equity

while we bring transparency to government investment by place, and

reengineer that investment to ensure optimal human and financial

performance both by place and by function, we have the potential to

bring the US economy back to a significantly more productive

level.[34] In layman's terms, if we shift our purchases, banking and

investing to the local level, change how small businesses and farms

get financed, and at the same time transform how government money is

invested at the local level, we can transform from a negative to a

positive return on investment economy.

 

That means we can pay off, convert to equity and eliminate or forgive

significant amounts of debt and cleanse our system of governance of

the dirty money that is pushing us towards warfare, environmental

damage and a significant reduction in our Constitutional freedoms.

 

Let's Start Now

 

 

Click for Solari Home Page

 

Whatever your spiritual, moral or ethical practice, my colleagues in

the Solari Action Network and I invite you to make a commitment to

start now to " vote " with your bank deposits for the values that you

wish to govern our world and to do so in a manner that enhances your

personal financial security.

 

If you are a Buddhist, ask yourself, " Where would the Buddha bank? "

If you are a Muslim, ask yourself, " Where would Mohammad bank? "

If you are a Confucian, ask yourself, " Where would Confucius bank? "

If you practice Judaism, ask yourself, " Where would Moses bank? "

If you are a Christian, ask yourself, " Where would Jesus bank? "

Whatever your spiritual or ethical tradition, ask yourself where the

person of the highest integrity in history would bank if he or she

were alive today.

 

Then look in your wallet and in your checkbook and ask yourself if you

have an opportunity to vote with your banking business to build a

better world. A world that is in alignment with people, dolphins,

trees, all other living things and the true best interests of small

and large investors. A world that is safer and more prosperous for you

and your family and your retirement savings.

 

Imagine the magical things that can happen when we take the time to

understand and cleanse our own money. Imagine how magical things could

be when enough of us tip the scale to the point that shareholders of

JP Morgan Chase and Citibank start to insist that these banks should

cleanse their money and operations to win back our business or the

business of the companies we also pressure to switch? Indeed, feel

free to buy a few shares of their stock so that you can go to their

annual meetings and express yourself on these matters of vital

interest to all of us. At Solari, we welcome any financial leader to

join us in devising ways to generate new profits and capital gains

with clean money and honest values. We invite JP Morgan Chase and

Citibank to participate in a new way of doing business. We will

continue to encourage global depositors to withdraw their accounts

until we have created rich incentives for them to do so.

 

Until that time, we look forward to the energy that can be created on

Main Street when the honest bankers and credit union leadership and

their investors and supporters who have been struggling to attract our

business can start to enjoy the fresh new resources that come their

way as we shift our deposits and our attention. Imagine their delight

at having the resources they need to revitalize struggling small

businesses and incubate new startups.[35] Can you imagine what happens

as we start to create a new generation of banking leaders who can make

money from bringing some good old fashioned transparency,

accountability and integrity to our financial system?

 

All those times that I have sat in the board room or at the highest

levels of government arguing for the ethical solution, what I would

have given to be able to say that the customers would back me up in

the marketplace!

 

Is switching our banking business enough to fix all our problems? No.

Are their many additional things we need to do? Yes. However, it all

starts by incrementally switching our financial and market flows back

into the hands of those we can trust. This will pave the way for

migrating to digital gold or community currencies and other profitable

initiatives in our area. Let's switch resources now to prime the pump

and begin an honest conversation about all the opportunities that

could be next.

 

If you believe that you have an opportunity to better reflect your

values in how you transact your banking business, please join the

Solari Circles Campaign at http://solari.com for some financial

fireworks on July 4th and beyond as we embark on cleansing our

economy, and our world, together!

 

For more on the Solari Circles Campaign

http://www.solari.com/campaign/july4th.htm

 

************

 

FOOTNOTES

 

1. This article originates from the Christian tradition. We invite you

to ask this question for Buddha, Mohammed, Moses or the spiritual

presence most in your heart and to transform the intent into words

that speak to you in your own traditions.

 

2. While the financial networks in and around the Vatican and related

networks and societies such as the Jesuits and Opus Dei,are not known

for financial transparency, starting points include stories related to

Vatican banking scandals, including the laundering of Nazi monies and

the Banco Ambrosiano scandals. See, Rupert Cornwell, " Sex, Fraud,

Money Laundering: All Roads lead to Rome, " . and God's Banker: The

Life and Death of Roberto Calvi (New York: HarperCollins Publishers,

July 6, 1984). The role of tax exempt endowments in the corruption of

our markets and government has become increasingly illuminated with

revelations about the role of the Harvard Endowment and its

involvement in the Enron scandals, Russian money laundering,

Harken-related insider trading and HUD fraud. See, " Negative ROI

Economy, Articles and Documentation, "

http://www.solari.com/gideon/articles_risk.html and, generally,

articles published on the Harvard Watch website, available at

http://www.harvardwatch.org.

 

3. For excellent examples describing organized crime spanning

corporate, government and mafia networks, see European Union lawsuit

against RJR Nabisco at

http://www.scoop.co.nz/mason/stories/HL0211/S00167.htm, The Real Deal

on Enron by Daniel Armstrong,

http://www.scoop.co.nz/mason/stories/HL0304/S00031.htm and Kevin

Phillip's book, American Dynasty

 

4. See, links on Dark Alliance and Mena allegations regarding

government sponsored narcotics trafficking at the " Stanley Sporkin,

Bio & Selected CIA Iran Contra Background, "

http://www.solari.com/media/SporkinBio.html and bibliography at

Catherine Austin Fitts, " Narco Dollars for Beginners, " The Narco News

Bulletin,, available online at

http://www.narconews.com/narcodollars1.html.

 

5. See, links at the " Stanley Sporkin, Bio & Selected CIA Iran Contra

Background, " http://www.solari.com/media/SporkinBio.html and

bibliography at Catherine Austin Fitts, " Narco Dollars for Beginners, "

available at http://www.narconews.com/narcodollars1.html.

 

6. See, " A Negative Return on Investment Economy – Articles &

Documents, " at http://www.solari.com/gideon/articles_risk.html.

 

7. See, " Transcript of Interview of Greg Palast, Journalist for BBC

and Observer, London, " Alex Jones Radio Show (March 4, 2002),

available at http://www.solari.com/gideon/privatization030402.html,

and Catherine Austin Fitts, " The Myth of the Rule of Law, " available

online at http://www.solari.com/gideon/articles/q301.pdf.

 

8. See, Chris Sanders, " Where is the Collateral? " republished from

Scoop Media (October 28, 2003), available at

http://www.whereisthemoney.org/S00223_collateral.htm.

 

9. See, Chris Sanders " Independence Day Special -- So, Where is the

Collateral? " (July 5, 2004) available online at

http://www.sandersresearch.com.

 

10. See, " Transcript of Interview of Greg Palast, Journalist for BBC

and Observer, London, " Alex Jones Radio Show (March 4, 2002),

available at http://www.solari.com/gideon/privatization030402.html

 

11. See, Kelly O'Meara, " Looting Russia's Free Market, " Insight

Magazine Online,

http://www.insightmag.com/main.cfm?include=detail & storyid=260507 .

 

12. See, Stephen F. Cohen, Failed Crusade: America and the Tragedy of

Post-Communist Russia, (New York: W.W. Norton & Company, 2001 (2nd ed.)).

 

13. See, Catherine Austin Fitts, " The Promis-Like Profits of the

Harvard Endowment, " Scoop Media (July 23, 2002)

athttp://www.scoop.co.nz/mason/archive/scoop/stories/b1/51/2002… .

 

14. See, Catherine Austin Fitts, " CSC DynCorp and the Economics of

Lawlessness, " available at

http://www.scoop.co.nz/mason/stories/HL0304/S00158.htm

 

15. See, Catherine Austin Fitts, " Where is the Money? " available at

Http://whereisthemoney.org, " Missing Money Articles and Documents " at

http://www.solari.com/learn/missingmoney.htm and " NASA Missing $565

Billion, " at

http://www.solariactionnetwork.com/phpBB2/viewtopic.php?t=1167 .

 

16. See, Kelly O'Meara, " Treasury Checks and Unbalances, " Insight On

the News, (Posted April 14, 2004) at

http://www.insightmag.com/news/2004/04/27/National/Treasury.Checks.And.Unbalance\

s-658744.shtml.

 

17. See, generally, the website of the Gold Anti-Trust Action

Committee at http://www.gata.org.

 

18. See, " Enron suit implicates nine US banks, " BBC News (April 8,

2002) available at http://news.bbc.co.uk/1/hi/business/1917627.stm and

Daniel Armstrong, " The Real Deal About Enron – An Interview with

Catherine Austin Fitts, " Scoop Media, available at

http://www.scoop.co.nz/mason/stories/HL0304/S00031.htm

 

19. See, Catherine Austin Fitts, " An Open Letter to Jerry Hawke,

Comptroller of the Currency United States Treasury " Scoop Media (June

9, 2004) available at

http://www.scoop.co.nz/mason/stories/HL0406/S00083.htm and " Cui Bono

9/11 " Scoop Media (June 4, 2004)

http://www.scoop.co.nz/mason/archive/scoop/stories/51/f6/200406042049.5f158db0.h\

tml

and John Crudele, " Fed Fudged Accounting After 9/11, Says Bank Big, "

New York Post Online Edition (May 27, 2004) at

http://nypost.com/business/21675.htm

 

20. See, Al Giordano, " CitiGroup's Rubin – Banking on Terror, " Narco

News 2001 (October 15, 2001) available at a href=

http://www.narconews.com/whitecollarterror1.html >

http://www.narconews.com/whitecollarterror1.html and bibliography at

Catherine Austin Fitts, " Narco Dollars for Beginners, " Narco News 2001

(October 24, 2001), at http://www.narconews.com/narcodollars1.html

 

21. For the magnitude of current levels of stock manipulation fraud,

see the Stanford Securities Class Action database at

http://securities.stanford.edu/filings.html

 

22. See, Catherine Austin Fitts, " Piracy on the Delaware, " Scoop Media

(May 20, 2004), available at

http://www.scoop.co.nz/mason/stories/HL0405/S00206.htm .

 

23. See, " Buffet Warns of Investment Time Bomb, " BBC News World

Edition (March 4, 2003), available at

http://news.bbc.co.uk/2/hi/business/2817995.stm .

 

24. See, William L. Watts, " Mastering the Capitol Universe, Goldman

Sachs Alumni Make Their Mark in Washington, " CBS.MarketWatch, posted

July 3, 2004, at

http://www.solariactionnetwork.com/phpBB2/viewtopic.php?p=3311#3311 .

 

25. The difference between 2% and 7.5% is 550 basis points. So, in

this example, the bank was raising money in the short-term maturity

markets or in deposits using federal deposit insurance at a low

interest rate and lending it back to the US government at a much

higher rate.

 

26. See Links for the Federal Reserve Districts & Banks at

http://www.federalreserve.gov/otherfrb.htm - you can call the public

affairs office in the Federal Reserve Bank in your district and ask

for a list of their top 10 member banks, or check with the American

Bankers Association for the largest banks.

 

27. See, Catherine Austin Fitts, " The Story of Edgewood Technology

Services, " available at

http://www.scoop.co.nz/mason/stories/HL0207/S00101.htm .

 

28. See, Catherine Austin Fitts, " Litigation " ,

http://www.solari.com/gideon

 

29. See,[note italix] Catherine Austin Fitts, " The Myth of the Rule of

Law, " available online athttp://www.solari.com/gideon/articles/q301.pdf.

 

30. See, Catherine Austin Fitts, " Black Budgets and the Manipulation

of Markets, " available at

http://www.financialsense.com/Experts/2004/AustinFitts.html and Chris

Sanders and Catherine Austin Fitts, " Fascinating and Lucrative

Patriotism, The negative return economy: a discourse on America's

black budget, " available at

http://www.sandersresearch.com/Sanders/NewsManager/ShowNewsGen.aspx?NewsID=667.

 

31. See, the " Exporting America " link of the " Lou Dobbs Tonight "

website at http://www.cnn.com/CNN/Programs/lou.dobbs.tonight/ .

 

32. See, Kelly O'Meara, " Why is $59 Billion Missing from HUD?, "

Insight On The News (November 2000), available at

http://www.insightmag.com/main.cfm?include=detail & storyid=208636 and

" Cuomo leaves HUD in Shambles, " Insight On the News (March 5, 2001),

available at ,

http://www.insightmag.com/main.cfm?include=detail & storyid=210881 and

" Inside HUD's Financial Fiasco, " Insight On the News (June 25, 2001),

available at

http://www.insightmag.com/main.cfm?include=detail & storyid=161113

 

33. See, Catherine Austin Fitts, " The Myth of the Rule of Law: The

Destruction of Hamilton Securities, " (November

2001),http://www.solari.com/gideon/articles/q301.pdf

 

34. See,[note italix] Catherine Austin Fitts, " Solari and the Rise of

the Rule of Law, " available online at http://www.solari.com/solari.

 

35. See, Catherine Austin Fitts, " The Community Wizard of Sebastopol, "

available at http://www.scoop.co.nz/mason/stories/HL0303/S00231.htm

 

************

 

Catherine Austin Fitts is the President of Solari, Inc., a member of

the board of directors of 911Truth.org and of the advisory board of

Sanders Research Associates. Ms. Fitts is the former Assistant

Secretary of Housing-Federal Housing Commissioner during the first

Bush Administration, a former managing director and member of the

board of directors of Dillon Read & Co. Inc. and President of The

Hamilton Securities Group, Inc.

 

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