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“Secrecy is the badge of fraud.” ~ Sir John Chadwick
By Catherine Austin Fitts
For our next interview, we are bringing back one of the great economists of our day, Dr. Mark Skidmore, to discuss the latest developments in a story that is becoming increasingly incoherent: trillions of dollars reported missing since 1998, with an update on amounts announced missing from 2016 to date. A recent Bloomberg article reported on another $35T in undocumented accounting adjustments. Both Dr. Skidmore and The Solari Report have been focused on bringing transparency to this area of the U.S. federal credit and financial systems for many years.
We also continue to see unusual financial patterns in the Federal Employees Retirement System’s Thrift Savings Plan (TSP), the retirement plan for federal employees and members of the uniformed services. Dr Skidmore provides an update of importance, particularly to any of the beneficiaries of this system and especially for participants in the TSP G Fund.
If you are a U.S. citizen and taxpayer—or if you, your pension plan, your company, your bank, your insurance company, or your municipality is an investor in U.S. Treasury or related securities, including U.S. mortgage securities—you will also want to pay attention. The combination of increasing debt and secrecy in U.S. government accounts is very concerning and is directly related to the Going Direct Reset we discussed in our 2020 Annual Wrap Up.
We will also use this opportunity to introduce Dr. Skidmore’s new website and blog, Lighthouse Economics, where he shares economic research and information relevant for navigating tumultuous times.
This is such an important topic that we are making this interview available to the public. So, check back here on Thursday, February 25.
In Let's Go to the Movies, I recommend The Dig, a 2021 drama movie featuring Carey Mulligan, Lily James, and Ralph Fiennes.
There is no Money & Markets this week. Join John Titus and Catherine in the first week of March for our continuing coverage of the Going Direct Reset and the latest events in finance and politics. E-mail your questions for Ask Catherine or post at the Money & Markets commentary for the first week of March here.
Talk to you on Thursday!
Dr. Skidmore’s website: Lighthouse Economics