Monday, October 10, 2011

Alessio Rastani on how to protect yourself

Alessio Rastani on Irish TV

Date: Sat 8 October 2011 Scroll to: 15:00

Posted by hpwatcher @ 06:57 AM (2483 views)
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32 thoughts on “Alessio Rastani on how to protect yourself

  • Could that interview have been any weaker? Alessio Rastani is indicative of the bulsh*t sociopathic/ selfish capitalist society we now inhabit and his VI thoughts should be taken with a tonne of salt. He may be right, about the coming storm, but he isn’t doing it out of any sort of social conscience, but as a vehicle to win on his bets. He is a gambler with a soap box. The only difference between him and the guy who shouts sh*t in the streets, is that he has somehow found legitimacy through the magic of television. T*sser!!!!!!!!

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  • He may be right, about the coming storm, but he isn’t doing it out of any sort of social conscience, but as a vehicle to win on his bets. He is a gambler with a soap box.

    I think you are wrong. Most of the politicians, economists and traders are pretending everything is going well so they will be able to profit in some way and to a greater extent.
    At least Alessio Rastani appears to be honest and is saying what a lot of people are thinking, and at great personal & professional risk – whatever his profession may be – as he has already had his home address publicised by the Telegraph. Who could possible want that?

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  • Err..

    This guy is not a trader, and has no banking qualifications..

    ..he’s a hoaxer and publicity-seeker – no more!

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  • This guy is not a trader, and has no banking qualifications..

    How do you define a trader? How do you define a banker?

    All of the people I know in banking/trading have experience, rather than formal qualifications and/or a license. But I don’t think any of those would be honest as it would likely be the end of their careers.

    ..he’s a hoaxer and publicity-seeker – no more!

    Even hoaxers and publicity-seekers can be right.

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  • general congreve says:

    @1 – I think we can hold him up to blame for any future falls in the stock market, the failure of the Euro and the coming depression. If it wasn’t for this sneaky channcer getting onto the BBC News then none of what is about to happen would happen. What a total [email protected]!

    @4 – Whereas I’m sure Fred the Shred and all the top guys at all the other global insolvent banks are knee deep in banking qualifications and industry experience. Top guys, one and all.

    Fair play to the bloke, for started he should please the HPC crowd because the first thing he says is wait for house prices to come down before buying, he then says there will be better buying opportunities for shares in the future (which I’m sure he is right on), but to be fair, his final recommendation is beyond the pale for many, best not consider that bit.

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  • general congreve says:

    Also loved the way he pointed out that former Treasury Secretary to George W. Bush who presided over the first round of bailouts was a former Goldman Sachs CEO and that the banking industry not only dictates to governments, but in the case of the US has captured the government. This came as news to the presenter and the audience. Well done to the guy, that takes some balls.

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  • Just watched it. Enjoyed the opening line: “It’s good news for the Irish economy that 50,000 rugby fans could afford to travel to New Zealand. Unfortunately only 2,000 of them have return tickets.

    The audience looked very uncomfortable listening to Alessio. He is a bullsh*tter though. When put on the spot he can’t answer questions. When asked what he does, he says he’s been a trader for ten years, then he says six years. He isn’t employed by a bank or hedge fund. Lots of us have been buying and selling shares online for six years, so he’s no different to us, except perhaps that he does it full-time whereas we have day jobs. He says “recession can be a good thing”; that’s nonsense, a recession is a slowdown in economic activity where lots of people lose their jobs, it’s only a good thing for those who keep theirs. He rehashes facts from years ago, nothing that we HPCers didn’t already know.

    He gives a couple of tips: avoid the stockmarket except for alcohol and tobacco stocks. Buy gold and silver.

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  • Here’s a transcript of a telephone interview with Forbes magazine. It’s a bit more interesting than the light-hearted Saturday night TV chat.

    Forbes: Trader Or Prankster? We Called Alessio Rastani And Asked
    “I’m not an institutional trader. I trade my own money, my own account. I did work for one institution, but I realized I want to do it for myself. I started trading for real in 2006.”

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  • @[email protected] – @1 – I think we can hold him up to blame for any future falls in the stock market, the failure of the Euro and the coming depression. If it wasn’t for this sneaky channcer getting onto the BBC News then none of what is about to happen would happen. What a total [email protected]!

    You can read into this whatever you like, your sarcasm doesn’t stop him being a gambling chancer, “hoping” what he says comes true, and betting accordingly, the emphasis is on the ‘hoping. You really need to take your head out of that golden *rse of yours every now and again GC’. That said you must have loved the way he predicted gold at 2000 and then 4000 dollars/ounce. Happy days GC :0), he must be the most qualified person you have ever heard on the BBC/ RTE etc.

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  • mark wadsworth says:

    I second what General Congreve says.

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  • I think we can hold him up to blame for any future falls in the stock market, the failure of the Euro and the coming depression. If it wasn’t for this sneaky channcer getting onto the BBC News then none of what is about to happen would happen. What a total [email protected]!

    I bet there are actually people thinking, ”well if we get rid of this guy, we get rid of the problem…..” you know, shoot the messenger sort of stuff.

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  • @4 – Whereas I’m sure Fred the Shred and all the top guys at all the other global insolvent banks are knee deep in banking qualifications and industry experience. Top guys, one and all.

    Why stop there – look at Gordon Brown – degree in history and that’s pretty much it!

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  • GC,

    It’s usually a good idea for the US treasury secretary to know the sort of people he has to deal with – so giving the job to someone who has previously worked at the top of a top bank is an entirely rational and sensible thing to do.

    To go jumping to the conclusion that this represents proof of the banks’ control of government is the sort childish cr*p one expects of conspiracy theorists..

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  • general congreve says:

    @10 – So by extension I guess you think Techieman, our resident trader, is a gambling chancer too then?

    If you watched it you will notice that he said markets can go either way, his view is they are going down. As a trader, unlike say a BTLer with a huge mortgage, he has no vested interest in the market going up or down, he just trades it the way he sees it and he was telling the audience he thinks the market will go down.

    I very much doubt his opinion on TV, BBC or otherwise, will carry any more weight on the markets than the numerous other commentators, both bulls and bears, who grace our screens, or that he is any less qualified, if you look at the track records of some of the guys that get a lot of air time. BTW Robert Prechter, Elliot Wave Expert is the most qualified person I have seen on TV. As a dollar bull, he is regularly interviewed on US TV for his opinion. Research showed that if you’d followed his tips blow by blow since he started his newsletter in 1987 you were sitting on a 98.3% loss by 2009.

    So, he’s a gold bull, so what, is it a crime? Only if you’re sitting on a profit it seems.

    @11 – Thanks Mark.

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  • To go jumping to the conclusion that this represents proof of the banks’ control of government is the sort childish cr*p one expects of conspiracy theorists..

    Yes, but UT, there are lots of examples of GS people in US government:-

    At a time when Congressional hearings are set to call testimony from some Goldman Sachs employees, it is vital to understand how widespread that institution’s ties are to the Obama administration. This diary shows the pervasive influence of Goldman Sachs and Goldman created institutions (like the Hamilton Project embedded in the Brookings Institution), employees and influence peddlers in the Obama administration.

    A List of Goldman Sachs People in the Obama Government: Names Attached to the Giant Squid’s Tentacles

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  • general congreve says:

    @14 – UT, just interested to know what’s your point of view on the BoE interest rate and QE policy ?

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  • general congreve says:

    Just found this, looks like the MSM have outed Rastani as a total hoaxer, just check out how he looks the spitting image of the guy in a BBC 2004 interview of a DOW Chemical spokesman who was proved to be a fraud (bottom of the article):

    http://www.metro.co.uk/news/876763-is-city-trader-who-said-goldman-sachs-rules-the-world-part-of-hoax-group

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  • general congreve says:

    @16 – Bad link HPW, links to the wrong place.

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  • @7 and @14

    I think there is a point of validity being made at 7 but it is in fairness somewhat buried in breathless overstatement eg

    “the banking industry not only dictates to governments, but in the case of the US has captured the government.”

    I do however think it is fair to say that the banking industry has an undue influence in developed countries especially the US and the UK. This was obvious in reponses to the crisis where we sought to save the banks rather than in restructure them, and obvious in the on going failure to bring meaningful reform to stop harmful speculation.

    It’s not that banks and credit are all bad but that they have become misdirected away from productive enterprise that might serve to create sustainable employement and increasingly towards get quick rich schemes such as the housing ponzi.

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  • general congreve @ 18,

    Those two videos don’t show the same person. The person in 2004 looks older and fatter, whereas he should be younger and slimmer. His ears are more pointy, and his eyebrows dance in completely the opposite direction to the 2011 person.

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  • “just interested to know what’s your point of view on the BoE interest rate and QE policy ”

    I think the BoE over-.estimates the benefits of low bank rate, and too quickly dismisses the negatives – if it had been raised to around 2% over the last year, the £ would now be a lot stronger, and inflation probably on target.

    I think QE (as currently executed) is a very dangerous policy.

    If you read Matthew Parris’ article in last Saturday’s Times, you would see a very elegant explanation of the root cause of upsets – the natural friction in the system (both natural and man-made) that causes swings from one extreme to the other.

    To get a good take on what lies ahead, you need to identify factors that are currently at an unnatural extreme, and anticipate the likelihood that it will swing to the opposite extreme – and assess the consequences of that happening..

    The global elephant in the room today, are the exceptionally low yields on the government debt of developed nations, at a time when most of the world’s governments are borrowing heavily, and the risk of a major developed nation defaulting is greater than at any time since WWII.

    That is a massive unnatural extreme, and it doesn’t require a genius to work out that a swing toward yields that are higher than the historical averages would be catastrophic for many of those countries.

    Raising interest rates (and not playing games, printing money to buy your own debt..) would provide the nation with a defensive buffer against the coming storm.

    For when the storm comes, money will go to those nations that have the greatest fiscal integrity.

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  • general congreve says:

    @22 – You mean it’s that obvious the MSM are being deliberating misleading Drewster? Surely not? 😉

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  • general congreve says:

    @25 – However, I am sure everyone here is in wholehearted agreement that the media lies, misleads and obfuscates about the housing market constantly.

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  • general congreve says:

    @20 – Nice find HPW. A government by the people (of Goldman) for the people (of Goldman). Nothing that strictly isn’t in the constitution really.

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  • A government by the people (of Goldman) for the people (of Goldman). Nothing that strictly isn’t in the constitution really.

    It would be very difficult to call it a conspiracy if they didn’t end up going back to GS just before they retired……

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  • @Uncle Tom, @14,
    I beg to differ. The incentive is plainly there for the official to jump right back into the private sector in an even more lucrative capacity, as reward for under-regulating. This is known as the ‘revolving door’, a familiar source of corruption and regulatory failure. They should be made to sign some binding agreement such that they cannot take paid employment in the industry they are involved in regulating.
    N

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  • general congreve says:

    @30 – Well maybe, but that sort of thing only happens in the States, Tony Blair never went on to work for Goldman Sachs:

    LONDON, England (CNN) — Former UK Prime Minister Tony Blair, who left office last June, has taken up a part-time job with a Wall Street bank on an estimated $1 million salary.

    Hope the Wall Street Protesters leave him alone.

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  • general congreve says:

    @32 – Nice work TC.

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