Saturday, February 7, 2009


Catherine Austin-Fitts posted a penetrating article titled “Financial Coup d’Etat” about a time in 2001 when she attended a private investment conference in London. The stories that emerged at the conference made it apparent that the 1990’s de-regulation and privatization was nothing less than an international financial coup against nations including US itself. Catherine recalls that a relatively small group of Bankers, corporations and investors with their coterie of accountants and lawyers (Washington-Wall St partnership) presided over the destruction of many economies. She describes this “piracy”. . .

“a Washington-Wall Street partnership that had:

- Engineered a fraudulent housing and debt bubble;

- Illegally shifted vast amounts of capital out of the U.S.;

- Used “privatization” as a form or piracy - a pretext to move government assets to private investors at below-market prices and then shift private liabilities back to government at no cost to the private liability holder.”

The next phase of the piracy is probably the re-sale of essential power, energy and transportation infrastructure back to the states that sold them off after having substantially run down the asset. This “King’s ransom” will be the second bite, not of the cherry, but of the carotid artery on the other side of the throat. This all boils together in the catch-phrase – Privatize the profits and publicise the costs.

Piratze the assets then ransom them back.

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