The protesters on Wall Street are angry as a result of no jobs, no future, and massive debt, says Celente. “Far too few have much too much and way too many have much too little.” He points out that true capitalism would have prevented the bank bailouts.
Celente argues that the free trade agreement recently passed by Congress and signed by President Obama will result in more job losses. “Free trade means letting the multinationals set up shop over there, cut the tariffs so they can bring back the crap and sell it here for a lower price.”
Celente is not optimistic on the future of the US. One solution he proposes is direct democracy, allowing the people to vote directly on issues, like ending the wars.
On investing, Celente is 90% in gold an 10% in silver. He pulled out of the Swiss franc as soon as a peg to the euro was announced. Celente believes the US government will do something in the future to take gold away from Americans.
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