-----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]] Sent: Thursday, June 07, 2001 4:19 PM To: [EMAIL PROTECTED] Subject: Catherine Austin Fitts - HUD: The Candy Store of Covert Revenues Le Metropole Members, Catherine Austin Fitts has served commentary at The Hemingway Table entitled, "HUD: The Candy Store of Covert Revenues." Catherine is the President of Solari, Inc., the former President of Hamilton Securities Group, former Assistant Secretary of Housing during the first Bush Administration, and a former Managing Director and member of the Board of Directors of Dillon, Read & Co. Inc. She is also a member of www.LeMetropoleCafe.com. An amazing and horrifying story! There is no doubt in my mind that when the facts become known, the last 6 or 7 years are going to go down as one of the darkest periods in American history. Some excerpts from Catherine's intriguing tales: "HUD is the candy story of covert revenues" -attributed to Oliver North by Lt. Cmdr. Al Martin Ret., Office of Naval Intelligence SHOW ME THE MONEY As I read the postings at Le Metropole Café, one of the questions that I ask myself is where the Treasury and the Federal Reserve got the money or credit they needed to support intervention in the commodity and capital markets. I have wondered whether there is any connection to the growing reports of "missing money" at various federal agencies from fiscal 1998 on, including the Department of Housing and Urban Development (HUD). After all, sources and uses have to match up. HUD's MISSING $59 BILLON AND COUNTING The Inspector General (IG) of HUD is responsible, under the Chief Financial Officer’s Act, to make sure the department produces audited financial statements for each fiscal year by March 1 of the following year. According to the HUD IG HUD has not been able to balance its books with Treasury since fiscal 1998. The IG reports unexplained adjustments of $17 billion in fiscal 1998, $59 billion in fiscal 1999, and declines to provide data on the amounts of unexplained adjustments in 2000. For fiscal 1999, the HUD IG refused to produce audited financials, as required by law. After quietly publishing fiscal 2000 audited financials, the HUD IG resigned unexpectedly last month......... It has only been recently as I accepted the complicity of Treasury and the Fed in a number of illegal activities from money laundering to capital market intervention, that I have faced the possibilities in terms of total dollars of what HUD's current financial failures may mean. If the folks who control the federal checkbook are leading the stealing, the ability to circumvent all internal controls very quietly is real. This leads to the frightening question we must ask in a digital age: If a country does not have sovereignty over its accounting, payment and transaction systems, can it have a sovereign government? If systems may be compromised locally through federal dictates for accounting and other financial systems that are compromised by "back doors" and other such methods, is there such a thing as "states rights?" Unless organizations can certify that they are free of all "backdoors" on their systems, is there any integrity in our public or private financial systems? <A HREF="http://www.LeMetropoleCafe.com/entrance.cfm";> Le Metropole Cafe</A> All the best, Bill Murphy Le Patron www.LeMetropoleCafe.com
