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The Coming Great Default on all U.S. government programs

Douglas Caddy

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Catherine Austin Fitts was interviewed on The Power Hour on August 29, 2013. She asserted that we are in transition between the Old Economy and the New Economy, which are parallel worlds so to speak. The New Economy will seize the assets of the Old Economy while casting off all its liabilities. Examples of this are cities that are declaring bankruptcy where billions of dollars in the pensions of the retired public employees are being eliminated, freeing the Elite to take over the unburdened assets of the municipalities by starting anew.

Fitts believes this is a planned agenda by the Elite that has been in effect since 2001. The Elite in any major financial crisis will come out on top and not suffer serious consequences such as what happened in the meltdown of the economy in 2008, which was a goal of the Elite’s agenda.

It would appear from her argument that the primary goal of the Elite is to bring about The Great Default, probably sooner than later. This way they can engineer the elimination of all liabilities from the Old Economy, such as social security, and begin anew with the New Economy that will be under their total control and to their exclusive benefit.

So The Great Default in inevitable if for no other reason than the Elite see it as a way to achieve their agenda.

Here is a link to the interview of Fitts on The Power Hour on August 29, 2013:


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I haven't got the time to listen to that interview right now but what is happening in the US with cities declaring themselves bankrupt? How many examples of this have there been? Surely employee pension rights, etc, have to be taken care of as part of any settlement?

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The state is nothing but an instrument of oppression of one class by another--no less so in a democratic republic than in a monarchy.

Friedrich Engels, preface to Kark Marx, The Civil War in France, 1891

All nature, from the smallest thing to the biggest, from a grain of sand to the sun, from the protista to man, is in a constant state of coming into being and going out of being, in a constant flux, in a ceaseless state of movement and change.

(Dialectics of Nature)

Edited by John Dolva
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So, on 30th September, the day before the deadline, the Republican House had a (secret?) vote to change the Clause 4 of Rule XXII House rules, that any elected member in the chamber can call for any proposed bill to be voted upon by the chamber.

Under Article/Section 2 of H Res 368, this "privilege" would henceforth be restricted to the House Majority Leader (Eric Cantor), or any person designated by that person. 7 Democrats voted for this.
The seven back-stabbing, turncoat, worthless Democrats who voted to remove the right of any Congressmen to use the discharge petition to get a vote on the clean CR are:

Ron Barber AZ-2
John Barrow GA-12
Dan Maffei NY-24
Sean Patrick Maloney NY-18
Jim Matheson UT-4
Mike McIntyre NC-7
Collin Peterson MN-7

Apparently, 9 Republicans voted against it, but I've not had the leisure to look for their names yet.

Now, it emerges that Cantor is heavily shorting the Dollar, in a gamble that it will take a hit in a default, and thus he will make a LOT of money on it.

So, you got the power to call an end to this farce limited to one man.....who stands to make a LOT of money off the farce continuing, or if he allows it to go to a vote, and 18 of his party "defect" and vote to end it, he loses money.

Not only did this HR 368 change the ability to use Clause 4 of Rule XXII, but it specifically applied it to House Joint Resolution 59, the appropriations bill that the House of Representatives and Senate are currently in a fight over.
( http://www.gpo.gov/fdsys/pkg/BILLS-113hjres59eah2/pdf/BILLS-113hjres59eah2.pdf )

House Joint Resolution 59 was introduced on September 10, 2013 by Rep. Harold Rogers (R, KY-5). It was referred to both the United States House Committee on Appropriations and the United States House Committee on the Budget. On September 20, 2013, the House voted in Roll Call Vote 478 to pass the bill 230-189.

Before passing the bill, the House adopted the "Scalise Amendment." The amendment would prohibit "the funding of any provision of the Patient Protection and Affordable Care Act or title I and subtitle B of title II of the Health Care and Education Reconciliation Act of 2010."
Boehner has blocked himself into a corner that he can't get out of by catering to the T Party over the ACA which will not be defunded.

The Republican Government Shutdown of 2013 continues.
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