"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen."

Tuesday, 27 September 2011

"Get Prepared"

"Governments don't rule the world; Goldman Sachs rules the world ... in less than twelve months, my prediction is that the savings of millions of people are going to vanish and this is just the beginning." This trader's honesty is painful - I'd quite like him for PM except that he doesn't know the answer to the economic crisis either, only how to make money from it. I bet Alessio Rastani isn't invited back by the BBC any time soon.

BBC Press Statement in response to suggestions that it was a hoax:
"We've carried out detailed investigations and can't find any evidence to suggest that the interview with Alessio Rastani was a hoax. He is an independent market trader and one of a range of voices we've had on air to talk about the recession."


  1. Hmm, he could have given us some hints as to how to prepare! Stockpiling food?

  2. Yes, "protect your assets" isn't much use for me - I don't have any :-)

  3. And now the Republicans in America are favoring a former member of the board for the Federal Reserve.

  4. My honest advice if I may:
    . If you haven't traded the markets, this is the worst time to try to start
    . His last bit of advice was the best - Capital Preservation in favor of reward chasing. Take your 401k and move it to a cash based fund that will neither go up nor down. But you'll keep your money while this shakes out. Europe is still in denial and that is very dangerous because you won't get any information that resembles reality. Remember Hanky Paulson and Ben Bernanke in January of 2008 saying "SubPrime is well contained." Yea, it was well contained to Earth. (far as we know)
    Hanky Paulson was allowed to sell his Goldman stock and not pay any tax on it when he left Goldman and went to work for Uncle Sammie. Yea, Goldman runs things. Goldman has a computer sitting within Feet of the exchange computers so that it can sift money off the market all day long and needs to be that close because of the speed of electrons to do it.

    Gee, can I program a computer and do the same? You?

    It is going to take a good while to shake this all out. Someone I respect immensely as not only a market reader but as a situation reader is Todd Harrison at Minyanville.com. They were 3 years ahead of the curve on the US mortgage meltdown and continue to be years ahead of the curve on everything else that has come along since.

    To quote Todd, and to put a bit of sunshine on this "There will be huge [investment] opportunities on the other side of this ride, but you must protect your capitol so you can capitalize on it when it begins". True that in my opinion. Now is not the time to try to capitalize. Also imo. Unless you want to try to daytrade, forget it. Buy and hold will wipe you out. Fwiw. Check out minyanville.com. They've got it.

  5. PS on Paulson. 500 Million in Goldman stock. Tax-free sale.

  6. You want to prepare?

    Get out of the EU.
    Deport dissident aliens.
    Get rid of the dole.

  7. Hi Tres, Goldman Sachs are everywhere, like a pox in the Middle Ages.

    Thanks for that, Kid. It's a fact that those in the know will come out of this much richer than when they went in.

    Nickie - you're so right, but you make it sound so simple too. What we first need is a change of government and a change in how the country is governed. What we have is not a democracy.


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