BBC Speechless As Trader Tells Truth: "The Collapse Coming.& Goldman Rules the world

[flinger]

BBC Speechless As Trader Tells Truth: "The Collapse Is Coming...And Goldman Rules The World"


http://www.youtube.com/watch?v=lqN3amj6A...r_embedded


He is true in that trader don't give a damn about what happens, they are just waiting to make money .....but whether it is going to crash like he is saying it to be we'll just have to wait and see....... but certainly his interview strikes fear into people.

[dydx]

Another so-called 'smart' trader talking out of thin air.

He actually said "Goldman rules the world". Goldman is just a large U.S. investment bank, which is subject to the governing rules from the U.S. Fed - on capital, liquidity, risk classification, reporting, etc. - and reporting rules of all geographical jurisdictions (including Singapore's MAS) it is operating in. And the employee traders in Goldman report to their chief dealers/treasury and product managers, and all are all subject to internal controls including exposure limits for clients/counterparties and different asset types. If they screw up - i.e. make losses or flout the controls/rules - they are usually removed from their jobs at short notices.

The politicians and governments will eventually fix the international financial problems of the day and the system. It will require time and effort from the big countries working together, and good ideas from some smart people, and luck! Meanwhile, many traders and speculators will continue to bet in this period of uncertainty to try their luck for some easy money or gain. No doubt some will be lucky and become quite rich, but many unlucky ones will simply vanish! We can quite easily understand this merciless market logic by imagining those who had bet big and held long positions on gold/silver or other commodities and currencies (other than the USD) in the last few weeks. Many of them are now licking their large wounds, and some may be totally destroyed financially now.

[BlackCat]

Haha...Love his style...'the market is toast'...'I go to bed every night, I dream of another recession'....'I'm a trader, I don't really care about that stuff'...

I figure he's trying to make a name for himself by talking big, or he's already short.

[koh_52]

He talk like the mayanis prediction the world going to end in 2012, which is next year...also US and Taiwan president election date.

No basis , no data and no logic.....i consider him as fortune teller.

The euro crisis has been dragged for almost 1 year, still no solution and yet no crash.......think most countries dun wish a crash, but now most world leaders are brainstorming for an amicable solution.....i have fate there no crash, only a deep correction and thereafter things improve and start to kick up again....hop tomolo market like today chiong another 50 pts, hehe...

[newborn1000]

Probably his first time on tv.........case of to eager to impress?!?

[mrEngineer]

When people referred to the economic crisis of 2008 as the Great Depression, they meant that the economy will continue to stay bad for the next 10-15 years. Realistically speaking, this is somewhat true as until now, we have not been able to introduce a shining light at the end of the tunnel. The euro debt problems are recycled, the chinese have overspent, the US govt or obama is all about talk but no results, the clean energy tech development has not flourished.

Point aside, how can greece ever not default if they are killing their tourism industry, tax ridiculously and chase all the wealthy people away? It is like what Jim Rogers have said, let the banks fail and things will start to pick up

Singapore was just being lucky for the recent rallies. We have seen a flight of capital here and similarly we have seen how it destroyed our currency in 2 days with USD exchange from 1.21 to 1.29. Look at the exodus of researchers from A-star, with no real capability, Singapore will lose its attractiveness one day (how many chinese now can speak good english..). Look at our recent election, people are divided and only care about making noise but not taking action. All investors here could see clearly with their eyes that most of our listed co. revenue and profits are already peaking and with the further fall in confidence for the next few quarters, demand will be evaporated as well. Indonesia, China will be hard hit.

I am not optimistic for the next 1 year and do not have a feeling how much deeper it will go.. Just like a feeling during the 2008 crisis. The most right thing that the trader has said for now is to protect your capital. Companies that have been assumed to generate positive cashflows have to be thought carefully again whether they will able to supply in the downside scenario.

Just my 5c thoughts.

[sgd]

if you look at the video from this guy you notice the pure arrogance "heck care screw everybody else" attitude. That basically is how all big time traders working at big time finance companies behave so that is very normal because I've already heard about this in the past from people who have to deal with this kind of traders everyday. These kind of traders are not your average "stay at home trade for a living" trader.

Another part if you observe from the video is his body lang is he is rather jittery and uncomfortable talking about this, because I've also heard that these traders are a very closed knit community - read "closed" is like he is revealing a lot.

[flinger]

Financial trader's comments on TV sparks storm of outrage

Alessio Rastani says it's Goldman Sachs, and not govts, which rules the world

(LONDON) A financial trader in London caused a storm of outrage by suggesting that world leaders cannot do anything to prevent a global market collapse, saying that investment bank Goldman Sachs ruled the world.

Alessio Rastani's comments on BBC television on Monday have gone viral, viewed by more than 360,000 people, but they fit so closely to the stereotype of a heartless banker that rumours are rife that he is actually part of a hoax.

Answering questions about world leaders' response to the eurozone debt crisis, the 34-year-old said traders 'know the stock market is finished. The euro, as far as they're concerned, they don't really care'.

'For most traders, we don't really care that much how they're going to fix the economy, how they're going to fix the whole situation - our job is to make money from it,' he said.

'Personally I've been dreaming of this moment for three years. I have a confession, which is I go to bed every night, I dream of another recession.'

As the BBC presenter looked on in shock, he added: 'The governments don't rule the world. Goldman Sachs rules the world. Goldman Sachs does not care about this rescue package, neither does the big funds.' The comments from Mr Rastani, who the BBC billed as an independent trader, caused a storm on Twitter and in British newspapers.

'Moment trader told shocked BBC presenter the City just LOVES an economic disaster,' said the Daily Mail website, while The Independent described him as 'the trader who lifted the lid on what the City really thinks'.

The Guardian asked readers in an online poll if they were shocked, with two options: 'No, this is how capitalism works', or 'Yes (but only by his honesty)'.

Some media reports have suggested Mr Rastani is a member of The Yes Men, a US-based protest group who claimed responsibility for a 2004 bogus report on the BBC that Dow Chemical would compensate victims of the Bhopal disaster.

In an interview with Forbes website, he denied he bore any resemblance to the fictitious Dow spokesman who orchestrated that hoax and insisted he was a genuine trader who worked for himself.

The BBC also stood by him, saying it had carried out 'detailed investigations' but could find no evidence to suggest Mr Rastani was not what he claimed.

'He is an independent market trader and one of a range of voices we've had on air to talk about the recession,' a spokesman told AFP. -- AFP

[swakoo]

By Jonathan Russell
The Telegraph
11:50PM BST 27 Sep 2011

BBC financial expert Alessio Rastani: 'I'm an attention seeker not a trader'

He's become the face of the global debt crisis and an internet sensation. The self-styled City trader who stripped away the jargon and bluster of the financial world and summed up our woes in just three minutes. "I go to bed every night dreaming of another recession," Alessio Rastani explained in a BBC interview. "It's an opportunity."

The soundbites won Mr Rastani instant fame. He became a viral hit and was trending on Twitter. BBC business editor Robert Peston was among the fans. "A must watch if you want to understand the euro crisis and how markets work," he told his army of 82,000 followers on Twitter on Tuesday.

The interview contained such gems as "Governments don't rule the world, Goldman Sachs rules the world [and] Goldman Sachs does not care about the rescue package."

But on Tuesday night the BBC was left facing questions about just how qualified Mr Rastani is to speak about the markets.

In the interview Mr Rastani described himself as an independent trader. Elsewhere he claims he's an "investment speaker". Instead of operating from a plush office in Canary Wharf Mr Rastani works and lives with his partner Anita Eader in a £200,000 semi in Bexleyheath, south London. The house, complete with a mortgage from Royal Bank of Scotland, belongs to her not him.

[Image: trader2_2011198c.jpg]
The £200,000 semi in Bexleyheath, south London (far left), where Alessio Rastani lives.

He is a business owner, a 99pc shareholder in public speaking venture Santoro Projects. Its most recent accounts show cash in the bank of £985. After four years trading net assets are £10,048 - in the red.

How a man who has never been authorised by the Financial Services Authority and has no discernible history working for a City institution ended up being interviewed by the BBC remains a mystery.

[Image: trader_2011196c.jpg]

The incongruity led to some commentators speculating Mr Rastani was a professional hoaxer. The BBC denied the allegation: "We've carried out detailed investigations and can't find any evidence to suggest that the interview with Alessio Rastani was a hoax."

However, the BBC declined to comment on what checks, if any, it had done prior to the interview.

Mr Rastani was a little more forthcoming.

"They approached me," he told The Telegraph. "I'm an attention seeker. That is the main reason I speak. That is the reason I agreed to go on the BBC. Trading is a like a hobby. It is not a business. I am a talker. I talk a lot. I love the whole idea of public speaking."

So he's more of a talker than a trader. A man who doesn't own the house he lives in, but can sum up the financial crisis in just three minutes – a knack that escapes many financial commentators.

"I agreed to go on because I'm attention seeker," he said on Tuesday. "But I meant every word I said."

[Temperament]

We will have to be skeptical whenever anyone claims he is an "expert" or "prophet in something, no matter what. No exception. The bottom line is real expert in something is proclaimed by the World not by himself. Ya? Even though there may be some truth in what he said.