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Title: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: Yankee (BitInstant) on September 26, 2011, 05:17:49 PM While watching this, Bitcoin being a valuable and reliable commodity kept swirling around in my head
http://www.youtube.com/watch?v=aC19fEqR5bA&feature=player_embedded Quote In an interview on BBC News this morning that left the hosts gob-smacked (google it... it is the BBC after all), Alessio Rastani outlines in a mere three-and-a-half-minutes what we all know and most ignore. While the whole interview is worth watching, the money shot for us was "This economic crisis is like a cancer, if you just wait and wait hoping it is going to go away, just like a cancer it is going to grow and it will be too late!". While he dreams of recessions, sees Goldman ruling the world, and urges people to prepare, it is hard to disagree with much (or actually anything) of what he says and obviously interventions and machinations means we will have days like this (in Silver for instance), there is only one endgame here and we hope there is less hopeful euphoria (and more preparedness) as we pull back the curtain further an further. http://www.zerohedge.com/news/bbc-speechless-trader-tells-truth-collapse-comingand-goldman-rules-worldWhile we do not know who this trader is, one thing we can be 100% certain of is that he will never appear on CNBC. Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: evoorhees on September 26, 2011, 07:16:58 PM And his suggestion is to buy US gov't bonds???
Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: Bitcoin Swami on September 26, 2011, 07:17:13 PM You can make lots of money in a down market. The trick is to short things then go on TV and say everythings about to crash.
Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: ParrotyBit on September 26, 2011, 10:13:25 PM The hosts, much less the BBC, didn't seem terribly gob-smacked or speechless at all. In fact, they even cracked a joke at the end of the segment. Interviewers in general are pretty good at swapping their facial expressions to how they should be feeling, it's their job to make the news seem interesting. The media has never been known for under-reporting doom and gloom. For future reference, here's what someone with years of experience in acting looks like when they're truly speechless:
http://www.youtube.com/watch?v=zIUzLpO1kxI&t=1m34s "Goldman Sachs does not care about this rescue package" simply does not compare. Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: Andrew Bitcoiner on September 26, 2011, 10:45:24 PM You can make lots of money in a down market. The trick is to short things then go on TV and say everythings about to crash. I bet you that is exactly what he did. As they say on Eve Online, Trust No One. Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: fivebells on September 27, 2011, 01:23:17 AM Their jaws didn't drop at his prediction, but at his callousness. His advice was on a par with "Let them eat cake."
"Goldman Sachs rules the world." Jesus Fucking Christ. Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: cbeast on September 27, 2011, 01:40:11 AM You can make lots of money in a down market. The trick is to short things then go on TV and say everythings about to crash. I bet you that is exactly what he did. As they say on Eve Online, Trust No One. It ends with, "Outside Your Optimal." Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: ElectricMucus on September 27, 2011, 01:51:49 AM This guy is just there to promote treasuries so they can pump the USD one last time.
Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: V4Vendettas on September 27, 2011, 05:31:40 AM You can make lots of money in a down market. The trick is to short things then go on TV and say everythings about to crash. I bet you that is exactly what he did. As they say on Eve Online, Trust No One. It ends with, "Outside Your Optimal." Normaly ends with "why is the corp hanger empty?" Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: hugolp on September 27, 2011, 06:04:32 AM And his suggestion is to buy US gov't bonds??? He might have positions there and thats why he recommends it, but short term is a good advice. Long term is crazy though. Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: johnj on September 27, 2011, 06:13:40 AM Wow!
If that guy loves downward markets, someone should tell him about Bitcoin! He'd have a ball! ;D Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: goxed on September 27, 2011, 07:54:39 AM I would suggest checking out two ETFs in the US trading markets, FAS and FAZ. These would be enough for an agile trader to make 100X if the market crashes. Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: julz on September 27, 2011, 07:57:49 AM Their jaws didn't drop at his prediction, but at his callousness. His advice was on a par with "Let them eat cake." "Goldman Sachs rules the world." Jesus Fucking Christ. This^ Although it's probably not 'surprise' at his callousness - just that he'd be so open about it. I suspect banks and trading floors are a natural pooling point for sociopaths... and every now and then one forgets to hide it when talking to the outside world. If it's not so much "forgetting" as "can't be bothered hiding it" - then it seems to me a pretty good sign that Goldman Sachs and their ilk really are just about ruling the world at this point. If anything is going to make the average joe genuinely angry enough to turn up to a more serious #occupywallst type situation - it's recession plus guys talking like this. Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: fivebells on September 27, 2011, 10:43:07 AM Yeah, the financial industry has economic political discourse so tightly sewn up at this point that there probably won't be any sane policy decisions until there have been a few threatening food and housing riots. Just like in the Great Depression.
Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: Andrew Bitcoiner on September 27, 2011, 06:39:58 PM After watching the video with audio last night it seemed like he was just trying to manipulate the market. Something about his nose just says untrustworthy.
Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: lettucebee on September 27, 2011, 11:00:04 PM Their jaws didn't drop at his prediction, but at his callousness. His advice was on a par with "Let them eat cake." "Goldman Sachs rules the world." Jesus Fucking Christ. This^ Although it's probably not 'surprise' at his callousness - just that he'd be so open about it. I suspect banks and trading floors are a natural pooling point for sociopaths... and every now and then one forgets to hide it when talking to the outside world. If it's not so much "forgetting" as "can't be bothered hiding it" - then it seems to me a pretty good sign that Goldman Sachs and their ilk really are just about ruling the world at this point. If anything is going to make the average joe genuinely angry enough to turn up to a more serious #occupywallst type situation - it's recession plus guys talking like this. I watched that dude and found it disturbing. This kind of person does not seem to make decisions based on any kind of morality, but simply on what makes the most money, as if he worships it. He says Goldman Sachs rules the world, and if he'd the chance he would have added that he would gladly work for Goldman if he could. But could I do that? Could I make phone calls to county administrators down in Alabama to convince them to invest in my derivatives that I know are going to blow up? I would make a lot of money after all. I decided somewhere in my life that, no, I can not do that sort of thing, and I think we should all look in the mirror and decide what kind of person we are. Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: fivebells on September 28, 2011, 01:13:09 AM The most galling part about it is that Goldman Sachs was instrumental in engineering the Greek debt crisis in the first place.
http://www.vanityfair.com/business/features/2010/10/greeks-bearing-bonds-201010 Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: Seraphim401 on September 28, 2011, 06:08:34 AM Holy shit!!
Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: calmindifference on September 28, 2011, 06:44:43 AM apparently he us just a well spoken amateur
http://www.telegraph.co.uk/finance/economics/8792829/BBC-financial-expert-Alessio-Rastani-Im-an-attention-seeker-not-a-trader.html Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: GideonGono on September 28, 2011, 07:26:57 AM He's gonna be dead soon, just like the Murdoch Hacking scandal whistleblower
Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: P4man on September 28, 2011, 07:34:27 AM Reminds me of this:
http://www.youtube.com/watch?v=6zZ_JfROhOE Relevant part starts at 10:30 (rest is worth watching too). You'll see the story of a guy that was hippie selling trinkets on India's beaches, who became a trader in London and went on tv as "expert" while didnt know the first thing about finance. By his own admission he hadnt a clue what P/E ratio's were, he didnt even know what the City was. But because he has a pretty face, he got on TV as expert to explain the market. LOL. Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: Raize on September 28, 2011, 05:18:42 PM I'm not sure how he's been losing money in the market, but he's got at least as many credentials as your average investment banker so I doubt it matters.
Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: Yankee (BitInstant) on October 01, 2011, 12:40:55 AM I'm not sure how he's been losing money in the market, but he's got at least as many credentials as your average investment banker so I doubt it matters. Yeh, I feel like the BBC threw him on there because he sounded the 'scariest' Fear in the people = higher ratings Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: netrin on October 01, 2011, 04:41:06 AM I'm not following your complaints. Since July, the DAX, DJI and EURUSD have more often than not been in the red. Alessio's from London and spoke to a British audience, most of whom if not shorting the European economy are losing money every week.
Title: Re: BBC Speechless As Trader Tells Truth: "The Collapse Is Coming" Post by: fivebells on October 01, 2011, 11:18:24 AM The newspaper article on him indicated that he lives in his girlfriend's 200K split home, and carries substantial personal debt from a largely moribund business. Not a paragon of financial strength...
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