"They want to be able to control, like turn your money off and on, which they can do in an all-digital system," she told Del Bigtree during a recent episode of his program "The HighWire with Del Bigtree."
"An all-digital system ultimately gives the people who control those central banks – in the end, the banking system – an ability to literally turn your money on and off if you don't do exactly what they say. And 'exactly what you say' includes taxation without representation, health care mandates and literally taking away your kids." (Related: Federal Reserve set to introduce privacy-crushing digital currency that can be 'controlled' and 'programmed' by government bureaucrats.)
Bigtree chimed in, saying the concept of CBDCs are beginning to float around. He reminded viewers of his guest's warning about cryptocurrencies being the testing grounds for these kinds of plans. Fitts warned that Bitcoin and crypto served as prototypes of centrally-controlled currency.
She reiterated this warning on Bigtree's show, adding that the liquidity of crypto tokens "can be destroyed or hampered in a way that's going to affect the price."
"What you want to do is to have a balance of healthy digital systems, but also healthy analog systems," Fitts said.
For his part, Bigtree disclosed that he and his wife have moved all their accounts into a smaller Texas bank due to concerns that the government is controlling the bigger banks. The move appears to be inspired by remarks by Treasury Secretary Janet Yellen that only giant banks will be bailed out.
Yellen's comments came in response to questioning by Sen. James Lankford (R-OK) about whether smaller banks would receive the same treatment as the now-collapsed Signature Bank and Silicon Valley Bank.
"A bank only gets that treatment if a majority of the Federal Deposit Insurance Corporation board, a supermajority of the Fed board and I – in consultation with the president – determine that the failure to protect uninsured depositors would create systemic risk and significant economic and financial consequences," Yellen said.
Lankford pointed out that under Yellen's plan, Americans need to withdraw money from smaller banks and transfer it to the chosen banks Washington has deemed worthwhile to protect. But it could also mean that more big banks are about to collapse.
Responding to Yellen's comments, Fitts warned: "If they insure all the banking deposits in the country, it's only been a few steps until they have complete central control." The former federal official also appealed to citizens and state legislatures to prevent this from happening.
Bigtree then asked his guest if the government is controlling the banks or if it is the other way around. In response, she explained that central banks represent bankers and that federal legislatures oversee the treasuries of sovereign nations.
"You had this balance of power between the bankers and the people's representatives and that has happened in a variety of ways. But particularly starting in the '90s with the financial coup, the bankers decided to lever up the governments, put them in a debt trap and basically take over," she commented, adding that the move by the bankers were essentially guaranteed control of governments for hundreds of years.
Visit EconomicRiot.com for more stories about the ongoing banking collapse.
Watch the full episode of the "HighWire with Del Bigtree" featuring Catherine Austin Fitts below.
This video is from the HighWire with Del Bigtree channel on Brighteon.com.