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Updated, 12.30
A BBC NEWSREADER was left quite literally speechless yesterday when an independent trader confidently predicting a worsening of the economic climate – saying the savings “of millions” would be wiped out.
Alessio Rastani told the BBC News channel that the economic crisis was “like a cancer” and that if it was not dealt with quickly enough, it would become fatal to the global economy.
Any plan for resolving it, however, will fail – because “the governments don’t rule the world… Goldman Sachs rules the world, and Goldman Sachs doesn’t care about this rescue package.”
As the news studio fell deathly silent, Rastani advised viewers to “be prepared and act now”, advising that the worst thing people could do to protect themselves was fail to act.
Watch the climax of Rastani’s interview below.
[Thanks Seán O'Keeffe]
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Two things should be noted:
a) He said he’ll do anything to make money. Therefore nothing he says can be trusted. It’s in his interest to cause panic and push an unstable market over the edge into recession. It’s also in his interest to say “the euro is dead, buy dollars”, because he’s got a hedge in place to profit from such a shift and it saves his economy from ruin.
b) Goldman Sachs does not rule the world.
Indeed …and who are Goldman f…ing Sachs anyway
The scary thing, is that he’s right.
At last some straight talk!
You can be as sure as shite won’t get this on RTE! In fact it’s a bit of a disgrace that there has only been minimal, if any coverage on RTE of the massive Greek protests or the huge Wall Street protests currently ongoing..
This has been coming for a long time. I read a book back in the 70′s called "Fatima and the great conspiracy" ( not a religious book) and this is exactly what it said would happen. All the way for years this has been evolving – afterall does anyone believe that all the parliaments across Europe were that dumb – led by the nose – bought off the land – herded to suburbia- no self sufficiency – time for the sheeple to wake up and smell One world government
So basically what he says translates to “I don’t give a feck about you or anyone else I just want to make money and I don’t care if people’s lives fall apart”
pretty much, lovely people arn’t they…..
Well THATs depressing…
What a p***k – people, babies and children starved during the great depression and he wants that again and sees it as a good thing because its an opportunity to make money.
At least he’s honest. The rest of the cowboys won’t stop to let you know you’re screwed while they make off with the money bags.
It is shitstirrers like this who make money from short selling and other methods that rely on market instability and fear who cause depressions. This interview like many others should be chucked in the bin and ignored, since these traders are anything but impartial and everything that he said in this interview is designed to do one thing and one thing alone…make his money and funds grow in value.
For people like me and millions of others, we simply don’t care… If the world economy collapses, so what.. Ya can’t get blood out of a stone
Oh but Dave they can and will
It’s not that you should not care but be prepared for when you need to feed yourself. The guy just said ‘be prepared’, so don’t just stand around like a dope.
This guy just wants to be famous.
To be on the safe side, I’ve planted some potatoes out the back.
That’s it I am putting all mine in the mattress. I trust a 12 gauge more than I trust the guys in charge.
Your euro will be worth nothing if it tanks, that’s the point. Your 12 gauge ain’t worth shit unless it has magic wand powers…
Exactly, this is why the price of gold is sky rocketing.
Actually Daniel the price of gold has dropped around $300 since its peak a few weeks ago.
The simple fact of the matter is that even these supposed expert market traders haven’t a clue what’s going to happen. They can predict and guess but they are as much in the dark as the ordinary man in the street.
A link to an article explaining why gold price is not skyrocketing.
In a nutshell, central banks are dumping gold during rallies to disguise currency debasing.
http://m.fool.com/investing/general/2011/09/13/is-gold-being-suppressed
More free publicity for this chancer! What he’s saying is plausible enough that he *could* be right and taps into all sorts of other memes like “We’re completely doomed”, “Goldman Sachs rules the world”, and “A small coterie of insiders know how to make millions from other people’s misery (and you can join them!)”
He’s deliberately scaring people but suggesting they can ‘protect themselves’…by learning the secrets of forex trading at one of his seminars in a hotel by a motorway. He’s also talking down the euro and talking up the dollar so he stands to gain if people react by doing likewise.
Okay, it’s refreshing to hear a different perspective instead of listening to the usual talking heads – most of whom have an agenda. But don’t think this guy is a font of independent financial truths – he has an agenda too.
Yeah. It’s like Glen Beck, who kept trying to scare people that the world was about to collapse into anarchy, and then he’d pop up in adverts for gold. He had an agenda to make himself richer. I bet life is actually pretty pleasant in the world he lives in.
Same with a lot of these chancers on boards like this pushing people to buy gold. They want the price to go up for their own benefit (gold has dropped 12% in the last week btw).
Everyone has an agenda. And it’s not always altruistic.
Don’t fancy being in your shoes Neil when the roof falls in on you. Eyes wide shut my naive friend.
@ David
I guess some people are so unhappy in their lives that they are desperate for the day that everyone is brought down to their level. Not me.
The point is that he has probably set up his hedge trade (or whatever they are called) based on a significant drop in the market. Therefore its completely in his interest to predict a fall and stampede people into selling assets to create the fall that he wants.
There is no such thing as an “indepedent” market analyst.
Be prepared.
Don’t put your faith in currency. (Euro or Dollar)
Market traders don’t destroy economies.
Dysfunctional government/EU/ECB economic policies destroy economies/wealth/savings. Market traders exploit their incompetence.
a guy that prays for recessions so he can make money. he’s a trader/speculator so its his job to try and get propaganda out there and he just did.
Like him or not people would do well to heed his advice and stay safe with their savings over the next 12 months.
People seem to forget that our own Minister for Finance candidly admitted during the elections that all his savings are offshore – if that doesn’t speak volumes then I don’t know what does.
What a jackass.
I am of the same persuasion as this guy, what I mean is that I would be more of a free marketeer than a socialist type of person, but you know what, when I hear the rubbish coming out of this fellas mouth I don’t actually blame left wing people for complaining so much about the markets and capitalism. This guy and fellas like him should be brought out and put down. The whole premace of capitalism is to make money, granted, but it IS NOT or NEVER SHOULD BE, to the detriment of people, children or societies as a whole. This guy is no better than some side of the road crook selling tv’s off the back of a truck. When did making a quick buck whilst ruining peoples lives ever become something you prayed for as a capitalistic person. So what I say today is do not listen to this guy and his rubbish and please do not view this fella as the definition of what all people who believe in capitalism are like. He’s straight out of “Only Fools and Horses”, end of!
I agree, the last great depression this guy dreams of returning to resulted in two world wars and the deaths of 60 million people before the world economy recovered. I think the BBC needs a better process to screen out nut-jobs
I know Sean, not exactly something that any human being with a sliver of heart or emotion in them would pray for. I mean we all like making money, otherwise the lotto wouldn’t be so popular globally, dare I say it maybe even some of the left play it, but I draw a line as I am sure any decent human being would, whereby your buck is made off the back of misery being inflicted! Scumbag!
The interview is an awesome Yes Men prank.
Fooling the BBC again, here’s an old one by the same guy.
So how do you protect your savings, gold?
Spend it all now and enjoy life while you still can.
Gold and other commodities as well as treasury bonds.
Unfortunately you’ve missed the race.
Well, like that’s just his opinion, man.
Batten down the hatches. Im long on the dollar…
Ha Ha, I hope you mean some sort of Chinese dollar. Because if the euro goes the dollar will not be far behind…
Dreams of recessions, does he? Unless he’s pulling some sort of satirical prank on the BBC, this guy is pond scum and an example of why the (western) world’s economy is in the shite in the first place.
i dream of this guy and people like him losing everything as their gambling backfires on themselves.
Hes right on one thing another rescue find isn’t going to do it we need to go after this people.
fund
And Obama says Europe is scaring the world!
I know a guy in the uk who dates a trader girl and he sold his big london pad on the back of her advice and he told me he intended to buy it back for a lot less than he sold it for, that was 5 years ago and he says hes on track, and, may I add (just for fun) he still dating trader girl, now, apart from wanting to give him and her a good dig it makes you think about ALL the manipulation that goes on, and, this video and this smarmy little toad is one of the legion of those gamblers, because that is what they are, posh gamblers …hopefully his bet is wrong, but then again, even a stopped clock is right twice a day … :)
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