`I dream of recessions`trader was not a hoaxer, says BBC - Polidicks

[release] [h2]Trader was not a hoaxer, says BBC[/h2] A financial trader who appeared on the BBC was not a hoaxer, the broadcaster has said after doubt was cast on his credentials. It issued a statement after Twitter users suggested that Alessio Rastani was not a trader. "We've carried out detailed investigations and can't find any evidence to suggest that the interview... was a hoax," the BBC said. In the interview, Mr Rastani said traders "dream of recessions". He was interviewed live on the BBC News Channel on Monday and said: "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. "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." He then added: "The governments don't rule the world. [Investment bank] Goldman Sachs rules the world. "Goldman Sachs does not care about this rescue package, neither does the big funds." After Twitter speculation that he was a member of hoaxers The Yes Men, the BBC press office made enquiries and concluded: "He is an independent market trader and one of a range of voices we've had on air to talk about the recession." On his website Mr Rastani describes himself as "an experienced stock market and forex trader and professional speaker". [/release] [media]http://www.youtube.com/watch?v=lqN3amj6AcE[/media]

i heard him on the radio last night. many people are saying he's a complete asshole, but to me he just sounded like an opportunist who simply doesn't care how the economy is fairing or who is profiting, so long as he is able to make a buck - and he's not afraid to say it. I can respect that.

That guy has some balls to say what other investor won't.

Why does Goldman Sachs run the world? Why not a bigger company like JPMorgan & Chase Co., or Wells Fargo, or Citigroup, Bank of America, Exxon, Microsoft, Apple, any fucking company bigger than them.

[QUOTE=Clementine;32510359]Why does Goldman Sachs run the world? Why not a bigger company like JPMorgan & Chase Co., or Wells Fargo, or Citigroup, Bank of America, Exxon, Microsoft, Apple, any fucking company bigger than them.[/QUOTE] get a clue before posting ty, gs have almost a trillion worth of assets on top of their hefty revenue

[QUOTE=Parker;32510403]get a clue before posting ty, gs have almost a trillion worth of assets on top of their hefty revenue[/QUOTE] Almost a trillion is the key word here buddy, All those banks I mentioned (not the non bank companies, they just have much/quite a bit larger revenues) have nearly 2-2.5 times larger assets. [editline]27th September 2011[/editline] Like BoA, 2.2 trillion assets, Goldman has .8 trillion Citi has 1.9 Chase has 2.1 Wells Fargo has the lowest (but still larger than goldman) of 1.2 Big difference in all of them, Goldman Sachs is a baby in employee count, and just about everything.

[QUOTE=Clementine;32510359]Why does Goldman Sachs run the world? Why not a bigger company like JPMorgan & Chase Co., or Wells Fargo, or Citigroup, Bank of America, Exxon, Microsoft, Apple, any fucking company bigger than them.[/QUOTE] They're a bank that's why.

Well at least he admits it. Although from what I can see he's unnamed.

But isn't this attitude kind of short sighted?

[QUOTE=Clementine;32510580]Almost a trillion is the key word here buddy, All those banks I mentioned (not the non bank companies, they just have much/quite a bit larger revenues) have nearly 2-2.5 times larger assets. [editline]27th September 2011[/editline] Like BoA, 2.2 trillion assets, Goldman has .8 trillion Citi has 1.9 Chase has 2.1 Wells Fargo has the lowest (but still larger than goldman) of 1.2 Big difference in all of them, Goldman Sachs is a baby in employee count, and just about everything.[/QUOTE] Goldman became powerful by having a lot of former personnel go to work for the Government and get legislation passed that Goldman wanted.

[QUOTE=garrynohome;32510690]Goldman became powerful by having a lot of former personnel go to work for the Government and get legislation passed that Goldman wanted.[/QUOTE] And I'm sure none of the much larger banks did the same

[QUOTE=Clementine;32510720]And I'm sure none of the much larger banks did the same[/QUOTE] Oh they did. But Goldman got the former head of their company as the treasury secretary.

[QUOTE=Clementine;32510580]Almost a trillion is the key word here buddy, All those banks I mentioned (not the non bank companies, they just have much/quite a bit larger revenues) have nearly 2-2.5 times larger assets. [editline]27th September 2011[/editline] Like BoA, 2.2 trillion assets, Goldman has .8 trillion Citi has 1.9 Chase has 2.1 Wells Fargo has the lowest (but still larger than goldman) of 1.2 Big difference in all of them, Goldman Sachs is a baby in employee count, and just about everything.[/QUOTE] that's why it's so powerful, it's revenue and assets in ratio to "employee" count is incredibly big. it's b/c basically everyone who has a say in the company is the best at what they do

dispicable.. but it's how it's working at the moment I guess you could say he's a true capitalist

[QUOTE=Killuah;32510686]But isn't this attitude kind of short sighted?[/QUOTE] How would it be short sighted?

protip: goldman sachs is a metaphor for the financial services industry

snip

[QUOTE=Kalibos;32511499]protip: goldman sachs is a metaphor for the financial services industry[/QUOTE] Exactly.

[QUOTE=Kalibos;32511499]protip: goldman sachs is a metaphor for the financial services industry[/QUOTE] thanks i was bored at work and was trying to work out what that meant all day :)

Brb withdrawing all my cash

[QUOTE=Clementine;32510580]Almost a trillion is the key word here buddy, All those banks I mentioned (not the non bank companies, they just have much/quite a bit larger revenues) have nearly 2-2.5 times larger assets. [editline]27th September 2011[/editline] Like BoA, 2.2 trillion assets, Goldman has .8 trillion Citi has 1.9 Chase has 2.1 Wells Fargo has the lowest (but still larger than goldman) of 1.2 Big difference in all of them, Goldman Sachs is a baby in employee count, and just about everything.[/QUOTE] It was probably just an example from his side. [QUOTE=Kalibos;32511499]protip: goldman sachs is a metaphor for the financial services industry[/QUOTE] This^^ [editline]29th September 2011[/editline] [QUOTE=Talkbox;32523865]Brb withdrawing all my cash[/QUOTE] Ok, gj contributing to the devaluation of your own funds.

Oh look a capitalist who's actually got guts to admit what he does.

I really don't see why people are getting all up in arms about this guy saying such a thing. People involved in finance dreaming about being prepared for a financial crisis are sort of like a layperson dreaming about "if only I bought Microsoft stock early" A lot of Finance is about being able to figure out what conditions are going to be like in the future, and if you come to the correct conclusion then you could stand to make a lot of money, or protect that you currently have. Its an Investors job to make smart investments and that means planning for how you deal with worst case scenarios as well as best case. [url=http://en.wikipedia.org/wiki/Peter_Schiff] Peter Schiff[/url] wrote a [url=http://en.wikipedia.org/wiki/Crash_Proof:_How_to_Profit_From_the_Coming_Economic_Collapse] Book[/url] about just such a thing.

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[QUOTE=PelPix123;32529908]PFHAHAHAHAHAHAHAHAHAHAHAHA Sorry. Our currency every bit as shit right now, Europe.[/QUOTE] There's more to a currency than its relative worth.