# Catherine Austin Fitts-Major Turning Point Comes This Fall



## LastOutlaw (Jun 1, 2013)

Catherine Austin Fitts-Major Turning Point Comes This Fall

Published on May 5, 2015

Even though financial expert Catherine Austin Fitts thinks the chance of total collapse is "relatively small" she's not discounting the chance of a major move this fall. Fitts contends, "I think this fall is going to be a major turning point. You see the SDR (Special Drawing Rights) system coming to a head. The U.S. budget is going to be a very difficult debate. You see the push to get the Trans-Pacific Partnership (TPP) and the EU deal done. You have a lot of institutional relationships that needed to be restructured in the last couple of years. Those changes are all coming to a head, and so we are going to get a big shift. If you are managing a big bond fund, you got a big problem. . . . There is going to be a turn in the bond market or a plateau, and that's going to be uncomfortable for those guys, and we are going to see some messy times."


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## LastOutlaw (Jun 1, 2013)

I think this is important enough to give it a bump.


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## bkt (Oct 10, 2008)

Actually, she says she things a chance of a major crash or collapse _this year_ is relatively small and I'd agree; we can probably go another year or two before stuff really starts to break.

Our currency is based on debt. That's what it's backed by. Granted, debt is necessary to obtain credit, but when debt is all you have that should not imply you are due an infinite amount of credit. Yet that is the way governments work. At some point, probably fairly soon, the piper will need to be paid.

The global economic system these days is a race to the bottom and the one who finishes last wins.


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