Gerald Celente comments on Chris Dodd’s financial regulation bill. He also discusses trade wars with China and gives advice to President Obama on the importance of having a productive capacity.
The 1,336-page Senate bill to regulate the financial system grants the Federal Reserve, the culprit behind the panic of 2008, more power. “It’s not even the fox watching the chicken coop – it’s the fox watching other foxes,” says Celente. “It’s like putting Bugsy Siegel or Al Capone in charge of law enforcement.”
The Trends forecaster believes his prediction for the crash of 2010 is going to happen, as the bill will not make a bit of difference in preventing it. “All the stimulus money from around the world is drying up,” says Celente. “At some point the stimulus game runs out and the crash happens.”
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