Catherine Austin Fitts – World Choking On Debt – Buy Gold
What is investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts looking to put money in? She has long been lukewarm on gold, but not any longer. Fitts now says, “The world is choking on debt. . . . It’s not just peak oil, it’s peak everything. So, it is one of the reasons you see margins falling, and we tried to fight it by blowing bubbles. We are reaching the end of that sort of strategy, and it’s one of the reasons you are seeing more and more people become aware of gold and want gold. They are saying, okay, the financial asset bubble game is over, and now we want real things. . . . To me, gold was a core position, and I have always felt that gold was a core position. So, I like gold now. For many years, I said I don’t think gold is going to have a good investment run. I am changing that this year. I think gold as an investment will do reasonably well this year, and it should. . . . Basel III rules are basically making gold more attractive and focusing more on financial soundness. Yes, the central banks and banks are going to be buying, but I think as you see global investors see the extent of the lawlessness, and like the determinations in the U.S. federal credit, they are going to be looking for real assets. Gold is just going to be a place to go. . . . Away from jewelry, you’ve got about a $3 trillion gold market. So, it only takes a little bit of a pension fund or a sovereign wealth fund to increase their gold allocation to run the market up. I think there is going to be a steady drum beat of support for the price of gold for some time to come.”
Join Greg Hunter as he goes One-on-One with Catherine Austin Fitts, financial expert and founder of The Solari Report.
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