[Errata: At 30+ mins in, Catherine refers to a former Fed governor who she admires as Larry Summers. Oops. She meant Larry Lindsey.]

“The book … highlights the implications for the rest of the world, and raises important questions about the concentration of power within central banks.”
~ Description of Princes of the Yen by Richard A. Werner

By Catherine Austin Fitts

This week, we continue the publication of our 1st Quarter 2023 Wrap Up, focusing on the theme of financial transaction freedom. We review the multiple threats to transaction freedoms and talk about steps we can take to protect ourselves, including the potential role of sovereign state banks.

My guest, Richard A. Werner, is the world’s leading expert on central banks. Professor Werner is a London School of Economics and Oxford-educated economist, a university professor of banking and economics (University of Winchester, England), an authorized investment adviser, and an economic adviser to governments. His best-selling book, Princes of the Yen (published in Japan in 2001 and in the English-speaking world in 2003), formed the basis for the 2014 documentary by the same title, with both book and film exploring the power of central banks—often shrouded in secrecy—to transform economies. The film’s director, Michael Oswald, described Prof. Werner’s theory and findings as “truly earth shattering.”

Earlier this year, the Solari Report commissioned Prof. Werner to write the briefing memo titled “Why a Sovereign State Bank Is Good for Tennessee,” a memo intended to educate Tennessee legislators—and legislators in other states. A sovereign state bank can help states counter threats to state-level sovereignty and economic prosperity and also halt the ominous trend of banking system concentration. In this interview, he and I will elaborate on the numerous reasons why this is such a timely topic deserving of both legislators’ and citizens’ attention.

Currently, the Bank of North Dakota is the only such bank in existence in the U.S.—and it provides an excellent model that other states can emulate. A sovereign state bank that supports (rather than competes with) private local banks and credit unions can protect and reinvigorate the community banks that are the lifeblood of small and medium-sized enterprises and hence, thriving local and state economies.

In early May, we will complete publication of the 1st Quarter 2023 Wrap Up with my quarterly Equity Overview—an interview with Tim Caban when he joins me in Pennsylvania.

Money & Markets

In Money & Markets this week, John Titus and I will cover the latest events and continue to discuss the financial and geopolitical trends we are tracking in 2023—and the growing pushback against corruption. Post questions at the Money & Markets commentary here.

Related Solari Reports:

Why a Sovereign State Bank Is Good for Tennessee

Special Solari Report: A Sovereign State Bank and Bullion Depository for Tennessee with Senator Frank Niceley

The Solari Papers #2: U.S. State Bullion Depositories

“The Many Excuses for Central Control” (Catherine Austin Fitts with Professor Richard Werner), Session 4 of Doctors for Covid Ethics Symposium, June 11, 2022: Freedom is the Cure: Unpacking & Defeating the Medical Tactics of a World Takeover

Richard Werner on CBDCs: How They Prepare You to Be Their Slave

I Want to Stop CBDCs – What Can I Do?

Let’s Go to the Movies: Week of May 26, 2020 – Princes of the Yen

Financial Transaction Freedom

Other Related Resources:

Princes of the Yen: Japan’s Central Bankers and the Transformation of the Economy

Princes of the Yen: About the Film

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