Catherine Austin Fitts
speaker
1,555 appearances
4 recordings
2 series
first heard Apr 2025
last heard 13 Aug
Catherine Austin Fitts’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Aug 2026 with 1.
Appearances
I played Will Smith in real life.
I played Will Smith in real life. So we had 18 audits and investigations, 12 tracks of litigation, physical harassment, a smear campaign. It was I mean, it was right out of the movies. And of course, so so Will Smith is a successful attorney. And in fact, his office in the movie is right next to where my office was. Our company office was in Washington, D.C.
And, you know, everything's crazy and the world makes sense until he finds Gene Hackman, who's a former NSA employee, who explains how covert operations were. And in fact, now, if you come to the Saleri Report, we have a whole 12-part series called Deep State Tactics. So if you can't find Jean, you can listen to Deep State Tactics and understand how it all works.
Anyway, but I got a real crash course. I'll never forget. First time I saw Enemy of the State, I'm like up in the front row and I'm like, oh, it's my training movie. Right.
So financial fraud and mortgage fraud is like the joy of cooking. There are thousands of recipes, right? But if you want to know the most prominent, likely famous recipe for mortgage fraud in HUD housing, all you have to do is look up the Tony Soprano TV show did a series of four parts on HUD fraud by Tony Soprano.
Yes. And the basic – and it's interesting because one of the things that got me interested in money is it was this fraud that destroyed the value of homes in my neighborhood when I was a little girl. We had four boarded up, four closed properties catty-cornered to our block in West Philadelphia.
And it had a huge sign and it said, by order of the Assistant Secretary of Housing, Federal Housing Commissioner. And I used to think, who is that asshole? And so when I literally, when I was sworn in, they said, by order of the president, you are now the assistant secretary of housing. I said, uh-oh, I'm the, you know. And I went downstairs and I said, how many boarded up homes?
How many foreclosed properties do we have in the foreclosed industry? My deputy said 50,000. I said, well, that's going to change. And that was part of the problem. But okay, so let's look at the basic fraud. So there's a home in the foreclosed property inventory of the Federal Housing Administration. They had financed a mortgage.
They put an insurance policy on the mortgage so they take the credit risk. It defaults. They pay off the mortgage holder and then take back the properties. The property is sitting there in inventory, okay? So let's say the property is worth $100,000.
Yes, probably. Probably. OK, so so let's say the house is worth one hundred thousand dollars. OK, you sell the house to someone or or or you who's going to do sort of a quickie fix up. OK, so. And you let them turn around and sell it at – you put a mortgage – let's say it's worth $150 now. They've fixed it up. You put a mortgage on it for $250, a lot more than it's worth.
They sell it to a not-for-profit who immediately defaults. Right. You pay off the 250 mortgage and take the property back and you keep doing it again and again and again and generating lots of money out the back door. So when I became FHA commissioner, we would find private one property in Chicago, which had financed and defaulted five times in one year. I know. Imagine that.
Anyway, so but here's here's how I can make even more money.
Right. That's a variation. Now, here's how you really make a lot of money. When you issue the mortgage, you don't issue one mortgage. You issue 10 mortgages on that house, and you put them in a mortgage pool that's wrapped by Ginnie Mae so you can sell them in Dubai, and nobody knows the difference. Right. And as long as there's money, you can skim out the back door of the FHA fund. No problem.
Wow. Right. And it's it's really funny. So so I had warned people about this kind of fraud, both when I was assistant secretary and then when I was the lead financial advisor. But, you know, you're you know what it's like when you fight these winds and and. So I'm driving down the highway in Georgia and my old roommate from college calls me and she says, Fitz, have you seen the Soprano TV shows?
They have the HUD frauds on the Soprano TV shows. And she said, I guess you're telling the truth. And I said, wait a minute. So I was the former assistant secretary of housing and then I was the lead financial advisor for HUD. And I've told you about this for years. You don't believe me until it's on the Soprano TV show. And she said, that's right.
So I said, that's why I say in America, fact is fiction and fiction is fact. If it's on the news, it's likely fiction. You know, if it's on the Soprano TV show, there's a... Oh, yeah. You know, you're getting your training filmed.
Well, remember, during the financial crisis, within a very short period of time, there was more money shoveling out the door. I mean, the TARP IG said total money... the taxpayers financed 27 trillion. $8 trillion would have paid off all the single family mortgages in the country. Right. So the total bailout of the mortgage fraud was three times all existing mortgages in the country.
So one of my favorite quotes, I was told by a former intelligence officer who was involved in the financial fraud that Oliver North had said that HUD was the candy store of covert revenues. And based on what I cleaned up and what I dealt with, I'm absolutely convinced.
Right. So here's how the, you know, any business, any enterprise and any planet has a business model, an economic model on how the fundamental walk. So the Western world for 500 plus years has operated on a model called central banking warfare model. Okay.
The central bankers print money out of thin air, and I'm grossly oversimplifying, but they create the money, and then the military makes sure that people take it, okay? And that keeps the liquidity going. So there are two sides to the coin. And when you say military, think intelligence and military, because surveillance is such an important part of the force.
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