Having stayed below the mainstream news radar for weeks, the sustained protests of thousands of ordinary people are beginning to attract attention, particularly after traffic across the Brooklyn bridge came to a standstill. Over 700 were arrested as people begin to distrust the big banks and their political leaders. An erie echo of Alessio Rastani's comments elsewhere on this channel.
More than 700 arrested in Wall Street protest
Occupy Wall Street protests spread across U.S.
BBC Speechless As Trader Tells Truth
Stunning admission of truth by a Wall Street trader. Here's the transcript:
Alessio Rastani: ...it's gonna crash and it's gonna fall pretty hard. Because markets are ruled right now by fear. Investors and the big money, the smart money ...I'm talking about the big funds, the hedge funds, the institutions, they don't buy this rescue plan. They basically know that the market is toast. They know that the stock market is finished, the Euro as far as they're concerned they don't really care, they're moving their money away to safer assets like Treasury bonds, 30 year bonds, and the US dollar. So it's not gonna work.
Maxine Croxall: We keep hearing that whatever the politicians are suggesting -- it's all been rather wooly -- isn't right. Can you pin down exactly what would keep investors happy, make them feel more confident?
Alessio Rastani: Ah, that's a tough one. Personally, it doesn't matter. 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. So 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 and personally I've been dreaming of this moment for three years. Personally, I have a confession to make, I go to bed every night and I dream of another recession. I dream of another moment like this. Why? Because people don't seem to maybe remember, but the '30's depression, the Depression of the '30's wasn't just about a market crash. There were some people who were prepared to make money from that crash and I think anybody can do that. It isn't just for some people in the elite, anybody can actually make money, it's an opportunity. When the market crashes, when the Euro and the big stock markets crash, if you know what to do, if you have the right plan to set up you can make a lot of money from this. For example, hedging strategies is one, then investing in bonds, Treasury bonds that sort of stuff.
Maxine Croxall: If you could see the people around me, jaws have collectively dropped at what you've just said. I mean we appreciate your candor, but it doesn't help the rest of us does it, or the rest of the Eurozone.
Alessio Rastani: I will say this, listen. I would say this to everybody who's watching this, this economic crisis is like a cancer. If you just wait and wait thinking this is going to go away, just like a cancer it's gonna grow and it will be too late. What I would say to everybody is get prepared. This is not a time right now to wishful think that the Government is going to sort things out. The Governments don't rule the world, rules the world. Goldman Sachs does not care about this rescue package neither does the big funds. So actually, I would actually tell people, I want to help people. People can make money from this, it isn't just traders. What they need to do is learn about how to make money from a downward market. The first thing people should do is protect their assets, protect what they have because in less than 12 months, my prediction is that savings of millions of people is gonna vanish and this is just the beginning. So I would say, be prepared and act now. The biggest risk people can take right now is not acting.
Maxine Croxall: Alessio Rastani thank you very much for talking with us.
Actress Roseanne Barr: Behead Bankers as in the French Revolution Guillotine, Re-education camps, as in Red China, for Rich Who Won't Give Up Wealth
Roseanne Barr: Behead Bankers, Rich Who Won't Give Up Wealth
Actress, comedienne and now author Roseanne Barr shares her solution for dealing with the rich and how the banks could repay the money the U.S. government bailed them out with in 2008.
"Part of my platform is, of course, the guilty must be punished and that we no longer let our children see their guilty leaders getting away with murder. Because it teaches children, you know, that they don't have to have any morals as long as they have guns and are bullies and I don't think that's a good message," Barr told Russia Today (RT).
"I do say that I am in favor of the return of the guillotine and that is for the worst of the worst of the guilty.
"I first would allow the guilty bankers to pay, you know, the ability to pay back anything over $100 million [of] personal wealth because I believe in a maximum wage of $100 million. And if they are unable to live on that amount of that amount then they should, you know, go to the reeducation camps and if that doesn't help, then being beheaded," Barr said with a straight face.
The following are 12 quotes from insiders that are warning about the horrific economic crisis that is almost here.
#1 George Soros: "Financial markets are driving the world towards another Great Depression with incalculable political consequences. The authorities, particularly in Europe, have lost control of the situation."
#2 PIMCO CEO Mohammed El-Erian: "These are all signs of an institutional run on French banks. If it persists, the banks would have no choice but to delever their balance sheets in a very drastic and disorderly fashion. Retail depositors would get edgy and be tempted to follow trading and institutional clients through the exit doors. Europe would thus be thrown into a full-blown banking crisis that aggravates the sovereign debt trap, renders certain another economic recession, and significantly worsens the outlook for the global economy."
#3 Attila Szalay-Berzeviczy, global head of securities services at UniCredit SpA (Italy's largest bank): "The only remaining question is how many days the hopeless rearguard action of European governments and the European Central Bank can keep up Greece’s spirits."
#4 Stefan Homburg, the head of Germany's Institute for Public Finance: "The euro is nearing its ugly end. A collapse of monetary union now appears unavoidable."
#5 EU Parliament Member Nigel Farage: "I think the worst in the financial system is yet to come, a possible cataclysm and if that happens the gold price could go (higher) to a number that we simply cannot, at this moment, even imagine."
#6 Carl Weinberg, the chief economist at High Frequency Economics: "At this point, our base case is that Greece will default within weeks."
#7 Goldman Sachs strategist Alan Brazil: "Solving a debt problem with more debt has not solved the underlying problem. In the US, Treasury debt growth financed the US consumer but has not had enough of an impact on job growth. Can the US continue to depreciate the world’s base currency?"
#8 International Labour Organization director general Juan Somavia recently stated that total unemployment could "increase by some 20m to a total of 40m in G20 countries" by the end of 2012.
#9 Deutsche Bank CEO Josef Ackerman: "It is an open secret that numerous European banks would not survive having to revalue sovereign debt held on the banking book at market levels."
#10 Alastair Newton, a strategist for Nomura Securities in London: "We believe that we are just about to enter a critical period for the eurozone and that the threat of some sort of break-up between now and year-end is greater than it has been at any time since the start of the crisis"
#11 Ann Barnhardt, head of Barnhardt Capital Management, Inc.: "It's over. There is no coming back from this. The only thing that can happen is a total and complete collapse of EVERYTHING we now know, and humanity starts from scratch. And if you think that this collapse is going to play out without one hell of a big hot war, you are sadly, sadly mistaken."
#12 Lakshman Achuthan of ECRI: "When I call a recession...that means that process is starting to feed on itself, which means that you can yell and scream and you can write a big check, but it's not going to stop."
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