Tuesday, December 8, 2009

Gerald Celente: Ben Bernanke Destroying Dollar, U.S. Economy and Should Not Be Re-Appointed



Gerald Celente on Ben Bernanke

By Robert Stowe England
December 8, 2009

Moscow-based RT, a 24/7 English language news broadcasting service, interviewed Gerald Celente, Director the Trends Research Institute, Kingston, New York, on whether or not Ben Bernanke should be confirmed for a new term as Chairman of the Federal Reserve. RT's Washington bureau reporter Cedric Moon conducted the interview via Skype broadband.

In the interview Celente charges that Bernanke should not be re-appointed to the Fed because he has been a failure as its Chairman and cited several instances where he got in wrong -- most importantly by igniting a bailout bubble that will be worse than the real estate and mortgage-finance bubble that occurred because of the mistakes made when Alan Greenspan was Chairman of the Fed.

Celente declines to offer another name for Fed Chairman, noting the choice is made by Wall Street insiders to protect their own interests. Citing Timothy Geithner's position as Treasury Secretary and his former position as New York Fed Chairman, Celente says, "Wall Street is Washington. Washington is Wall Street."

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