Investment advisor Catherine Austin Fitts says, “We are so overdue for a 25% correction. . . . I think 2017 is going to be a composting. In the destruction of the old, let there be the creation of the new. We’re going to be creating the new, and we’re going to be destroying the old. It’s going to be quirky. There are going to be all kinds of black swans that could hit us. So, do I think we are going to have a major correction and lots of digestive problems? Yes, I do. Now, if the new administration gets what it wants by getting tax rates down and bringing capital back into the country, then there is going to be a very exciting future and a very exciting pathway for North America.”
On gold and silver, Fitts contends, “I think we are in a long-term bull market for gold, but I don’t think the consolidation is over. I was hoping the consolidation was over given how it was trading in the first three quarters, but given how it is trading now, it looks like the consolidation may not be over. The reality is gold is a number of things. In Asia, it’s real money. I think as long as Asia is converging with per capita income, gold is going to have a floor under it, and silver too.