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The Highwire with Del Bigtree

CATHERINE AUSTIN FITTS: “IT’S FINANCIAL WARFARE”

The Highwire with Del Bigtree

The Highwire with Del Bigtree

News, Society & Culture, Health & Fitness

4.93.4K Ratings

🗓️ 8 April 2023

⏱️ 26 minutes

🧾️ Download transcript

Summary

Investment banker and Economist, Catherine Austin-Fitts gives her insight into the current volatility in the global banking system she describes as, “Financial Warfare,” giving insight in the wake of the Silicon Valley and First Republic Banks federal bailouts.

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Transcript

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0:00.0

There's been a lot of predictions on this show. We've stretched out in a lot of different

0:04.5

places, but let's talk about banking today because it's on everyone's mind. If you've

0:09.7

watched the news or turned it on at all, this is what we're all worrying about.

0:14.8

The Federal Reserve is expected to announce another round of interest rate tikes tomorrow.

0:18.3

This comes amid growing calls for accountability after several banks collapse earlier this month.

0:22.2

We saw over a week ago now was the Treasury, the Fed and the FDIC stepping in to guarantee

0:30.3

depositors of Silicon Valley Bank, which had failed.

0:33.7

On Friday, the government regulator in charge, the FDIC, took control of Silicon Valley bank

0:40.0

assets and over the weekend, it took control of signature bank assets.

0:45.6

But analyst caution, we are not out of the woods yet. And that is because of San Francisco

0:49.8

based regional bank, First Republic, which is now in focus. It stuck plunge more than 47%

0:55.7

yesterday. S&P Global downgraded the company to junk status.

0:59.7

The nation's biggest banks made a dramatic move today to rescue a smaller bank and head

1:04.7

off a potential crisis. 11 of the top financial institutions, including Bank of America,

1:10.0

JP Morgan Chase and Citibank, will pump $30 billion into First Republic Bank to keep

1:16.3

it from collapsing.

1:17.3

We wanted to make sure that the problems at Silicon Valley Bank and signature bank didn't

1:23.9

undermine confidence in the soundness of banks around the country.

1:30.4

It's a great idea in theory, but the devil is truly in the details and that's going

1:35.7

to be the devil here. Who's going to pay the price?

1:39.9

I'm going to be honest with you. I am very well read when it comes to vaccines and issues

1:44.1

like this. But when I was driving the car today with my son, ever, my daughter, they

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