This set of two videos (about 15 minutes long in total) is an interview with Catherine Austin Fitts, a former Republican official in the George Bush (Sr.) administration, and a former intern at Goldman Sachs. She is trying to sound the alarm about what the Banking and Finance groups in the economy are doing in a general way, and what it means for the average citizen.
Importantly, she is putting up a big red flag about the safety of 401K's, particularly relative to Money Market funds. The Government is about to violate the property rights of investors through a new rule, setting an ominous precedent. The commentator, Max Keiser, does a good job overall of interviewing her, his style is a little bit shrill sometimes, but that's his nature, you have to try to overlook it...Nonetheless, very worthwhile to listen to...Max and Stacy do have a great website/blog, you should all visit it often, great insights and guests there....
The links are here:
http://www.youtube.com/watch?v=GUSk57QDB4U
http://www.youtube.com/watch?v=zBZSkgGIlm4
More on this new rule can be found here, at the website, Zerohedge:
http://www.zerohedge.com/article/suspending-money-market-redemptions-now-legel-sec-approves-new-money-market-regulation-4-1-v
Other countries in the past have been known to come up with confiscation schemes against their citizens to shore up national balance sheets that were destroyed by corruption or incompetence, Argentina is one example, there are others...
Beware...
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