Catherine Austin Fitts and the missing money
From the UAP Encyclopedia, the open encyclopedia of UFO and UAP history · 🗓️ Event
Contents 7
| Date | June 2004 |
|---|---|
| Topics | Beings & bodies (topic), Secrecy & cover-up (topic), Congress & law (topic) |
| People | Catherine Austin Fitts, Mark Skidmore |
| Testimony | Shellenberger testimony, p. 156 |
| Year | 2004 in UFO history |
| Timeline | 2004 on the UAP Timeline |
| Sources | 5 |
Catherine Austin Fitts (born 1950), a former investment banker and Assistant Secretary of Housing and Urban Development, has argued since the late 1990s that huge sums are diverted from federal accounts into secret, unaccountable programs, and has suggested some may fund a secret space program. There is no evidence for this.[1][2]
Career
Fitts became the first woman managing director at the investment bank Dillon, Read & Co. in 1986 and served as HUD's Assistant Secretary for Housing in 1989–1990 under President George H. W. Bush. Her firm, Hamilton Securities, won a HUD contract in 1993 to manage a large portfolio; HUD cancelled it in 1997 over alleged accounting errors, and investigations by the HUD Inspector General, the FBI and the SEC followed, closing in 2002 without finding wrongdoing by her or the firm. Fitts called the investigation retribution. She later founded the advisory and publishing business Solari and served on the advisory board of the Arlington Institute from 1998 to 2000.[1]
Her claims
In a 2004 article Fitts argued that national wealth was being diverted into secret channels, and she has said HUD functions as a fundraising mechanism for military and intelligence agencies. In 2017 she and economist Mark Skidmore reported about $21 trillion in undocumented adjustments in Defense Department and HUD accounts from 1998 to 2015, and she has suggested some of this money could fund a hidden space program.[1][2]
Criticism
Accounting experts generally explain the $21 trillion figure as the result of poor bookkeeping, with the same sums counted many times in adjustments, rather than actual missing money. The Pentagon has failed every financial audit since its first full audit in 2018, which keeps the issue alive, but there is no evidence linking the accounting problems to UFO programs. The Washington Post has reported that Fitts later promoted unfounded claims about the COVID-19 pandemic.[1][3]
People and topics
- Catherine Austin Fitts — Former HUD official who argues trillions flow to secret programs.
- Mark Skidmore — Economist who co-wrote the $21 trillion analysis with Catherine Austin Fitts.
- Unidentified flying object — An object in the sky that can't be identified; the older term for UAP.
On the Timeline
- Contractor speculation dinner (2004) (28 March 2004) — Vallée's circle speculates about which contractors handle real UAP projects.
- John Maynard testimony (August 2004) — An alleged Army/DIA official names contractors said to be involved in the UAP matter.
See every 2004 event on the UAP Timeline →
References
- Catherine Austin Fitts — Wikipedia · en.wikipedia.org · archived copy
- "MSU scholars find $21 trillion in unauthorized government spending", MSU Today (Dec 2017) · msutoday.msu.edu · archived copy
- "Is our government intentionally hiding $21 trillion in spending?", Goodman Institute (Aug 2018) · goodmaninstitute.org · archived copy
- Mapping the Real Deal: The Solari Solution — Scoop · scoop.co.nz · archived copy
- jstor.org · jstor.org · archived copy
Further reading
- Skunk Works — Wikipedia · en.wikipedia.org · archived copy
This page was last edited on 29 October 2026. Articles are written in our own words from the sources listed under References; disputed claims are attributed to the people who made them.
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