Putin Predicting US Dollar Collapse is Serious Warning – Catherine Austin Fitts

Posted at 12:26 PM (CST) by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com

Investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts thinks Vladimir Putin saying “the dollar is going to collapse soon” is a flashing warning for the U.S. dollar’s value in the not-so-distant future. Fitts explains, “What Putin is saying is the dollar is going into a steep decline, and what was interesting about his comment is he said ‘soon.’ . . . What is the ability of the U.S. military versus the Russian or Chinese military to defend the dollar’s position? That is intelligence that Putin has, and because Putin has this intelligence, people really stood up and I really stood up and took notice. If Putin has access to that intelligence, and I don’t, which is saying the dollar could go into a deep decline, we need to take a serious look at it. The dollar is clearly under pressure, and if you look at reserves, the central banks are buying gold and selling dollars, including the Russians and Chinese.”

Fitts also points out, “The dollar is holding, and yet, if you look at the price of household goods in America, where I live, it’s approximately 8% to 10% a year in prices of household goods (going up), and you can tell the money printing has been significant. If you look at what the Fed is doing in the repo market, we are really on the next QE. So, we’ve got a problem with currency debasement, and what Putin is saying is it’s going to go faster, a lot faster in 2020, and that is an issue I am looking at. . . . One of the scenarios I am looking at is the dollar declines significantly in 2020. . . . When you have real household inflation at 10% every year for the past five years, the dollar has really already taken a hit as are many fiat currencies around the world. . . . What has really supported the dollar is its huge market share both in trade and traditionally in reserves. . . . You need to withstand a scenario where in 2020, instead of getting 10% inflation, you need to withstand 20% or 25% inflation in real household goods. . . . I have been saying for many, many years the dollar is strong. This is the first time I started to see the potential for a crack in the armor. I think we have to be prepared for the potential for a more serious decline than we’ve been dealing with for the last five years.”

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