Why BLM-ANTIFA Riots Were Only In Federal Reserve Opportunity Zones
Catherine Austin Fitts is an American investment banker and former public official who served as managing director of Dillon, Read & Co. and as United States Assistant Secretary of Housing and Urban Development for Housing during the Presidency of George H.W. Bush.
Riots as a Real Estate Acquisition Plan In her interview, Fitts also explains research done by her team that shows the rioting that occurred in 2020 primarily occurred in opportunity zones in cities that have a central bank location.
The U.S. Economic Development Administration describes opportunity zones as “an economically-distressed community where private investments, under certain conditions, may be eligible for capital gain tax incentives.
Fitts in her description, saying opportunity zones are a tax shelter mechanism that allows wealthy individuals to avoid capital gains tax when selling off stock. By rolling the proceeds over into opportunity zone investments, they can avoid paying capital gains tax.
“So, this is fantastically profitable,” she says, adding: “When I first saw how all the buildings and businesses destroyed … were right at the bottom of the opportunity zone, I started to laugh and I said, ‘I was assistant secretary of housing. That’s not a riot pattern, that’s a real estate acquisition plan.’”
Essentially, by shutting down private businesses in the opportunity zones, and then looting and literally burning them to the ground in some cases, those businesses and buildings can be bought up for next to nothing. “It’s called disaster capitalism,” Fitts says.
Now, 34 of the 37 U.S. cities that have a federal reserve bank branch were destroyed by riots. Why is this important? Because now that real estate can be bought on the cheap, and be rebuilt with smart technology — a necessity for a well-functioning technocratic system — built in.
“This makes building out the smart cities around the federal reserve banks much cheaper,” Fitts explains, “which I assume you’ll want to do if you’re going to come out with a [central bank] crypto system.”