Catherine Austin Fitts: Major Turning Point Comes this Fall

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 US 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.