Article

2011-09-27 Economy

Truthful trader on the BBC says Eurozone Market will crash

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by tipper 2011-09-27 00:23|| || Front Page|| [2 views ] Top

#1 Yep, the market is "Toast". Last depression people made money and their family names are well known to this day. The next fix doesn't matter to them. This downward trend is how people make lots of money. The fear and panic are driving this and governments can't manage that. This is a global economy so no country is immune.

Posted by Dale 2011-09-27 08:11|| 2011-09-27 08:11|| Front Page Top

#2 As long as there are people and needs, markets will never be toast.

He's probably stating that the over-pricing of the market that governments and most insiders love will be ending. That's GOOD.

Posted by Bright Pebbles 2011-09-27 09:10|| 2011-09-27 09:10|| Front Page Top

#3 Brazil Government Preparing For Greek Default This Week

Posted by tipper 2011-09-27 10:00|| 2011-09-27 10:00|| Front Page Top

#4 As long as there are people and needs, markets will never be toast.

Wanna swap this poor pig skin for 10 fine arrowheads?

Posted by gr(o)mgoru 2011-09-27 10:01|| 2011-09-27 10:01|| Front Page Top

#5 The problem is that most people will lose allot of their investments. This is within 12 months. The dollar goes up so exports will drop, tourism and gold and precious medals will drop. Remember that University that loaded up on Gold. I'd bet they are very nervous at this time. The insiders have made their move. Like he said it's about making money. The market will drop again shortly but most will stay put or buy in. The smart money will sell near next opportunity. Buy low sell high but don't lose money. Constant movement. Buffett just did a buy on his own stock. I'd bet you he did it so others would buy in to drive the value up(yes it does have value anyway). So if it drops he will sell rather than lose money. They can react much faster than most. "Truthful", in my opinion yes he is. The body language and sincerity shows. Among other things.

Posted by Dale 2011-09-27 10:07|| 2011-09-27 10:07|| Front Page Top

#6 Statement on BBC News channel interview with trader Alessio Rastani
The BBC have today issued the following statement regarding an interview with trader Alessio Rastani on the BBC News channel yesterday (Monday 26 September):

"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."

Posted by tipper 2011-09-27 14:29|| 2011-09-27 14:29|| Front Page Top

#7 More from the Telegraph:
How a man who has never been authorised by the Financial Services Authority and has no discernible history working for a City institution ended up being interviewed by the BBC remains a mystery. The BBC declined to comment on what checks, if any, it had done prior to the interview.

Mr Rastani was a little more forthcoming.

"They approached me," he told The Telegraph. "I'm an attention seeker. That is the main reason I speak. That is the reason I agreed to go on the BBC. Trading is a like a hobby. It is not a business. I am a talker. I talk a lot. I love the whole idea of public speaking."

So he's more of a talker than a trader. A man who doesn't own the house he lives in, but can sum up the financial crisis in just three minutes a knack that escapes many financial commentators.

"I agreed to go on because I'm attention seeker," he said on Tuesday. "But I meant every word I said."

Posted by Anguper Hupomosing9418 2011-09-27 17:26|| 2011-09-27 17:26|| Front Page Top

#8 Last I looked BBC stands by the man. I wondered what price he might pay for saying what so many have been saying. He is a good talker. He talks too much perhaps. The smear reminds me of political dirty tricks. Time will tell the truth of it.

Posted by Dale 2011-09-27 22:10|| 2011-09-27 22:10|| Front Page Top

#9 Meanwhile, IIRC CNBC > SMITH-BARNEY = believes that the US may be able to just barely avoid going into a full-blown SECOND RECESSION [double-dip], at least thru EOY 2011 - early Jan 2012???

Posted by JosephMendiola 2011-09-27 23:13|| 2011-09-27 23:13|| Front Page Top