Unlimited Hangout with Whitney Webb Consolidating Control with Catherine Austin Fitts
Apr 21, 2023
Whitney is joined by Catherine Austin Fitts, President of Solari, Inc. and a prominent voice on financial integrity. They dive into the troubling trend of bank consolidation, highlighting the implications for local economies. The discussion critiques Central Bank Digital Currencies (CBDCs) and the Fed’s controversial FedNow service. Fitts emphasizes the importance of community banks for maintaining democracy and warns against the loss of personal autonomy. The duo also examines the potential decline of the U.S. dollar and strategies for financial resilience.
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Engineered Bank Runs Favor Big Banks
- The recent banking collapses seem like engineered runs benefiting big banks like JPMorgan Chase.
- Regulators insured deposits to move funds to big banks, pushing bank consolidation dangerously.
Small Banks Are Pillars of Economy
- Small banks and credit unions are vital to local economies' health and democracy.
- Consolidating deposits into big banks risks destroying this economic resilience and privacy.
No Law for Systemic Banks
- Treasury Secretary Yellen defines "systemically important banks" arbitrarily in secret.
- This confers sovereign immunity allowing these big banks to operate above the law.