Gartman: The Volcker Rule WILL Be Enacted, But It's "Abundantly Wrong"

Dennis Gartman appeared on Squawk Europe overnight, and contrary to the latest chatter, he’s predicting that the Volcker Rule will in fact end up being enacted, an outcome which he called “very sad.”

Why?

Because prop trading had nothing to do with the crisis, which was all about the government pushing more bad loans.

He also predicted it will cause havoc in financial markets, and a loss of liquidity.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.