Governments Don’t Rule the World, Goldman Sachs Does, Says Trader
Impending economic Armageddon is apparently a great time to make money. This clip from the BBC will likely leave you as gobsmacked as it did me.
via the International Business Times:
Stock market trader Alessio Rastani commented on the current economic crisis to the BBC on Monday, saying, "Governments don't rule the world" but rather Goldman Sachs does and he "dreams of another recession."
"This is not a time right now for wishful thinking that governments are going to sort things out," Rastani told the BBC. "The governments don't rule the world, Goldman Sachs rules the world."
In a candid interview about the Eurozone rescue plan, Rastani said the market is ruled by fear and cannot be saved by the rescue plan.
"They know the stock market is toast," he said. "They know the stock market is finished."
Rastani said most investors are moving their money to places it would be more safe, like U.S. treasuries and the dollar, as they simply do not care about the state of the economy but rather about their own pockets.
"Personally it doesn't matter," he said. "See I'm a trader. I don't really care about that kind of stuff. If I see an opportunity to make money, I go with that."
Rastani continued on to say that most other traders, like him, are not interested in the climate of the economy but only care about making money.
"For most traders...we don't really care that much about how they're going to fix the economy, how they're going to fix the whole situation," Rastani said. "Our job is to make money from it."
Finding optimism in a grim situation, Rastani said he's been "dreaming" of this moment for years.
"I go to bed every night, I dream of another recession," he said.
UPDATE: Forbes wanted to know if this was a joke or whether Rastani was serious.
Yesterday a purported independent trader going by the name Alessio Rastani appeared on BBC and said some delicious things, namely that he’s been dreaming about a recession and that Goldman Sachs rules the world.
Gawker promptly called him a “sociopath.” My colleague at Forbes said he might be a psychopath. Some people commenting on his Facebook page called him a “muppet,” a “nasty little self-publicist” and a “totally honest bastard who wants to rise to the top of [on] the rest of the world’s misery.” Another suggested that he die.
So they proceeded to interview him. On this matter he said:
FORBES: What do you think of the attention you’ve received since going on TV?
AR: I think it’s overblown. I have no idea why I’m getting this attention. I don’t think it was news. For someone to say what I said, I thought everybody already knew this kind of stuff. The big players of funds rule the world, I don’t think that was news. And what I said about making money from a crash, obviously not everybody knows about that, you can make money from a downward market. A lot of people just got the wrong end of the foot, misunderstood what I was saying. They thought I was joyful or licking my lips about the idea of making money from people’s miseries. That’s probably the way it looked on the video. But if they watch the whole video, what I was really trying to say is people need to educate themselves about how to do that… what I was trying to say was, look, everyone should basically prepare. I was trying to be the good guy. If this market’s going to crash, then you’ve got to prepare yourself. You’ve got to basically learn how to make money from this. Otherwise you’ll be like I did 10 years ago … I made some huge mistakes 10 years ago, during the dotcom crash. I realized it was a falling knife. I was trying to say look guys, it’s not just for traders, it’s for everyone. They should ask me how to do it, I will help you.
UPDATE 2: The Yes Men deny any involvement, issuing this statement:
The Yes Men wish to commend Mr. "Alessio Rastani" for his masterful performance as "trader" on BBC World yesterday. Mr. Rastani's real name is Granwyth Hulatberi; he once appeared on CNBC MarketWrap as a "representative" of the WTO. Well done, Granwyth! You're getting better and better.
Just kidding. We've never heard of Rastani. Despite widespread speculation, he isn't a Yes Man. He's a real trader who is, for one reason or another, being more honest than usual. Who in big banking doesn't bet against the interests of the poor and find themselves massively recompensed—if not by the market, then by humongous taxpayer bailouts? Rastani's approach has been completely mainstream for several years now; we must thank him for putting a human face on it yesterday.
UPDATE 3: Here is Rastani's website url for those stll not convinced this is real: