trousers Posted 27 September, 2011 Share Posted 27 September, 2011 [video=youtube_share;aC19fEqR5bA] Link to comment Share on other sites More sharing options...
pap Posted 27 September, 2011 Share Posted 27 September, 2011 "The governments do not rule the world. Goldman Sachs rules the world". Nice. Probably true. Link to comment Share on other sites More sharing options...
Deano6 Posted 27 September, 2011 Share Posted 27 September, 2011 It's a hoax. He's Jude Finisterra from the Yes Men http://theyesmen.org/ http://blogs.reuters.com/felix-salmon/2011/09/27/is-alessio-rastani-a-yes-man/ Link to comment Share on other sites More sharing options...
pap Posted 27 September, 2011 Share Posted 27 September, 2011 Forbes wondered the same thing. Trader or prankster? - We called Alessio Rastani and asked It'll come out in the wash. Link to comment Share on other sites More sharing options...
Pancake Posted 27 September, 2011 Share Posted 27 September, 2011 If anyone actually thinks that they are the same guy, they have been drinking too much petrol. Link to comment Share on other sites More sharing options...
pap Posted 27 September, 2011 Share Posted 27 September, 2011 If anyone actually thinks that they are the same guy, they have been drinking too much petrol. Robert Peston reckons that the guy is legit, although even if he wasn't, Peston also says he hears the same things from traders who don't happen to resemble Jude Finisterra. Link to comment Share on other sites More sharing options...
holepuncture Posted 27 September, 2011 Share Posted 27 September, 2011 the new economic reality... the rioters will be middle class this time next year! Link to comment Share on other sites More sharing options...
aintforever Posted 27 September, 2011 Share Posted 27 September, 2011 That is not the unsavoury side, that IS capitalism. Grab what you can for yourself, that is all that matters. Link to comment Share on other sites More sharing options...
Saintandy666 Posted 27 September, 2011 Share Posted 27 September, 2011 He is legitimate apparently. And to be honest, he is a product of economic liberalism... leave the markets to get on with it and you get guys like this basically. This is why there is a need for a greater balance between the markets and the state... as they are motivated by different things. Link to comment Share on other sites More sharing options...
Trader Posted 27 September, 2011 Share Posted 27 September, 2011 All traders will short the market relentlessly in the present economic climate - and will make lots. They don't care about Joe Public, most of whom are unaware that it's possible to make money in this sort of downturn. More than that, because markets crash faster than they climb, they can make more money and faster. Thi guy is totally legit - he's just being more honest than most. I just hope he's wrong about the long-term outlook though - this could make 2008-9 seem like a picnic. Link to comment Share on other sites More sharing options...
aintforever Posted 27 September, 2011 Share Posted 27 September, 2011 If you look at what's happening it's only a matter of time before the rest or Europe and the US default on their debts. The trillion dollar question is how does that effect you and me. Link to comment Share on other sites More sharing options...
Jonnyboy Posted 27 September, 2011 Share Posted 27 September, 2011 His advice is secure your assets - what does that mean? Link to comment Share on other sites More sharing options...
Johnny Bognor Posted 27 September, 2011 Share Posted 27 September, 2011 (edited) Capitalism is about the private ownership of production to generate a profit and thus create wealth. Playing the markets is not capitalism, it is mere gambling (usually with other people's money) The thread should be titled "The unsavoury side of financial gambling" HTH Edited 27 September, 2011 by Johnny Bognor Link to comment Share on other sites More sharing options...
Johnny Bognor Posted 27 September, 2011 Share Posted 27 September, 2011 (edited) His advice is secure your assets - what does that mean? Make sure your money is safe. Edited 27 September, 2011 by Johnny Bognor Link to comment Share on other sites More sharing options...
pap Posted 27 September, 2011 Share Posted 27 September, 2011 There's more and more evidence surfacing that this guy is not a hoax. I'm not at all surprised by the content of his comments. I'm surprised that they were aired on the Beeb, and like their presenters, was taken aback by his candour. I find the misery that people went through in the Great Depression baffling, a triumph of greed over common decency and compassion. Millions of people suddenly destitute, and for what? Because they didn't have money. The Earth had the same amount of resources, give or take a few months consumption, yet poverty swept through nations. @aintforever - best case is that governments will continue to pay back/borrow more, leaving us and future generations to pay for it. Worst case, it'll end up leading to war, somewhere, possibly everywhere. The extreme poverty of the Weimar Republic helped to foment the conditions for the Nazi state to emerge. Either way, there are some unpleasant times ahead. Personally, I think the whole system is a f*cking disgrace. Jobs are going to go, people are going to lose their houses and kids are going to have to experience all the fallout of economic hardship. And why? Because some numbers on a computer system have a lot of zeroes and a negative sign at the front? Money used to be tied to something. Now it's just printed into existence, not worth anything save what we ascribe it. You can't eat it, you can't live in it. No-one actually needs money. They just need the things that they can get with it. On its own, money is completely inert, nothing more than decorated paper. So I have to ask, why are we going through the ringer just so we can pay back artificial numbers to international bankers? Let's be honest, they need it a lot less than the rest of us. When it comes down to it, our collective assets amount to a spinning ball of rock. There have got to be better ways of sharing that rock than this fecking shambles. Link to comment Share on other sites More sharing options...
trousers Posted 27 September, 2011 Author Share Posted 27 September, 2011 So I have to ask, why are we going through the ringer just so we can pay back artificial numbers to international bankers? I've pondered on the same question myself before. If there are hundreds of countries with levels of 'artificial' debt in the multi-billions (which of course there are), why don't all these countries get together and say to the speculators: "ok, enough's enough....you've taken us for a ride for the last 30+ years....now it's our turn....we're writing off x% of our collective debt because we now realise it was accrued through self perpetuating gambling" Or words to that effect. Yes, I know, probably a lot of naive assumptions there but what is actually stopping the debt laden countries of the world calling time on those who hold said countries to ransom through market manipulation and computer screen financial jiggery-pokery? They'll make a socialist out of me yet... Link to comment Share on other sites More sharing options...
aintforever Posted 28 September, 2011 Share Posted 28 September, 2011 So I have to ask, why are we going through the ringer just so we can pay back artificial numbers to international bankers? Let's be honest, they need it a lot less than the rest of us. We wont, IMO governments will just write it off. Quantitive easing is a form of default so they are starting to do it anyway. Link to comment Share on other sites More sharing options...
pap Posted 28 September, 2011 Share Posted 28 September, 2011 We wont, IMO governments will just write it off. Quantitive easing is a form of default so they are starting to do it anyway. So, taking your point to the nth level, why haven't the Bank of England just created all the money they owe and paid all of our debts? Link to comment Share on other sites More sharing options...
holepuncture Posted 28 September, 2011 Share Posted 28 September, 2011 All traders will short the market relentlessly in the present economic climate - and will make lots. They don't care about Joe Public, most of whom are unaware that it's possible to make money in this sort of downturn. More than that, because markets crash faster than they climb, they can make more money and faster. Thi guy is totally legit - he's just being more honest than most. I just hope he's wrong about the long-term outlook though - this could make 2008-9 seem like a picnic. There's more and more evidence surfacing that this guy is not a hoax. I'm not at all surprised by the content of his comments. I'm surprised that they were aired on the Beeb, and like their presenters, was taken aback by his candour. I find the misery that people went through in the Great Depression baffling, a triumph of greed over common decency and compassion. Millions of people suddenly destitute, and for what? Because they didn't have money. The Earth had the same amount of resources, give or take a few months consumption, yet poverty swept through nations. @aintforever - best case is that governments will continue to pay back/borrow more, leaving us and future generations to pay for it. Worst case, it'll end up leading to war, somewhere, possibly everywhere. The extreme poverty of the Weimar Republic helped to foment the conditions for the Nazi state to emerge. Either way, there are some unpleasant times ahead. Personally, I think the whole system is a f*cking disgrace. Jobs are going to go, people are going to lose their houses and kids are going to have to experience all the fallout of economic hardship. And why? Because some numbers on a computer system have a lot of zeroes and a negative sign at the front? Money used to be tied to something. Now it's just printed into existence, not worth anything save what we ascribe it. You can't eat it, you can't live in it. No-one actually needs money. They just need the things that they can get with it. On its own, money is completely inert, nothing more than decorated paper. So I have to ask, why are we going through the ringer just so we can pay back artificial numbers to international bankers? Let's be honest, they need it a lot less than the rest of us. When it comes down to it, our collective assets amount to a spinning ball of rock. There have got to be better ways of sharing that rock than this fecking shambles. I've pondered on the same question myself before. If there are hundreds of countries with levels of 'artificial' debt in the multi-billions (which of course there are), why don't all these countries get together and say to the speculators: "ok, enough's enough....you've taken us for a ride for the last 30+ years....now it's our turn....we're writing off x% of our collective debt because we now realise it was accrued through self perpetuating gambling" Or words to that effect. Yes, I know, probably a lot of naive assumptions there but what is actually stopping the debt laden countries of the world calling time on those who hold said countries to ransom through market manipulation and computer screen financial jiggery-pokery? They'll make a socialist out of me yet... Great posts chaps, the control system that is 'money' really has got us by the balls! I guess eventually all this digital cash, where only about 25% of it exists, stops going round in circles... So much inflated wealth, and when are we going to stop focusing on state debt and start tackling personal/private debt? I believe the UK personal debt is around £25k for every man, woman and child... about as solvent as the skates! Maybe its time to bring the show to an end, reset all the numbers to zero... The infamous trader aint quite as savvy as he makes out though, going on his £900 cash in the bank and living in his birds mortgage: http://www.telegraph.co.uk/finance/economics/8792829/BBC-financial-expert-Alessio-Rastani-Im-an-attention-seeker-not-a-trader.html He stands by what he says though... Maybe its time the people start reclaiming these financial institutions and bring them back to reality, bring these corporations under control and enforce a moral backbone on our governments... if the trader gets his prediction right then the revolt will be big enough to bring change perhaps... Maybe its time to start growing vegetables, doing woodwork and rear sheep/learn to knit! Link to comment Share on other sites More sharing options...
dronskisaint Posted 28 September, 2011 Share Posted 28 September, 2011 This presupposes that there is a savoury side to capitalism.... Link to comment Share on other sites More sharing options...
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