BBC Speechless As Trader Tells Truth

[iamthebandfanman]

Run time: 03:30 https://www.youtube.com/watch?v=lqN3amj6AcE   Posted on YouTube: September 26, 2011 By YouTube Member: fal2grace Views on YouTube: 143552   Posted on DU: September 27, 2011 By DU Member: iamthebandfanman Views on DU: 9028

 

[Poll_Blind]

1. And now MY jaw is on the floor too!

Whoa.

PB

[deutsey]

2. Responding to this so I'll remember to watch the video later tonight n/t

[Canuckistanian]

3. "Governments don't rule the world. Goldman Sachs rules the world"

"... and Goldman Sachs doesn't care about this bailout package"

There you go. From a financial insider himself.

We're fucked.

[rbnyc]

20. Yup. nt

[CoffeeCat]

27. Is he suggesting that Goldman Sachs...

...is invested in the markets imploding and that they'll profit from such a catastrophe?

Why would anyone be surprised or shocked by what this trader is saying. Goldman did the
same thing two years ago with the mortgage crisis.

They profited from the ponzi-scheme mortgage situation in which they played a major role.

Canuck, I know you are not shocked. You're just acknowledging the reality. However, some
on DU are trying to discredit this guy--a guy who has been more honest with the world about
the markets and the reality we face---than ANYONE else on the inside.

[WhoIsNumberNone]

31. I think the shock is that someone is admitting it.

[JDPriestly]

51. I think that Europeans are going to vote big-time for Socialists and

deal with traders through tough regulations. Goldman Sachs will probably find itself in a bit of a corner when it faces limitations on what it can do in the Eurozone and just how willing Europeans are to play its game. Governments can simply relegate debts and the interests of the creditors who hold the debts to the trash heap.

Yes, the governments and people who have the courage to show creditors who is boss pay a price for their disrespect for the wealthy and economically powerful, but if the people and governments are facing a choice between repeated recessions and impoverishment in the face of the amassing of tremendous wealth by the 1% and the banks or impoverishment due to government action to reign in unscrupulous investors, then the people and the governments are quite likely to choose the latter. If they make us suffer, we will make sure they suffer with us.

It's the wealthy who buy the Italian shoes and the French wines. They are unlikely to want to do without those things.

And note that Germany and France use alternative energy sources to supplement oil and are increasing their alternative capacity. They are not just working toward independence from oil but also independence from the US dollar. And then Russia and Eastern Europe have enormous resources and are an alternative to the Goldman-Sachs-dominated US.

The trader ignores the reality of the social contract that is the ultimate government of our societies. As a result, he depicts one scenario -- one possible outcome of the current situation in Europe. But it is not the only one.

The US will probably move to the right -- because our media is so overwhelmingly owned and manipulated by the right in our country. But even here, we could have increasing social unrest.

And, by the way, I don't think you will see a lot of unrest in Europe. The Socialist and Green Parties are well established and are not unrealistic or disorganized. They are just more willing to place some controls on the financial sector. Europeans have been through very difficult economic times before and know how to deal with it. Also, they have a better sense of history than do Americans or people in most of the world.

Goldman Sachs can run a lot of the world, but may find itself shut out of Europe and facing the loss of some of its investments there. In the end, who needs Goldman Sachs?

[Taverner]

65. That's what just happened in France

[FBaggins]

4. Might not be the truth at all.

A trader openly admitting that he's heavily leveraged toward a bet in a particular direction doesn't retain as much credibility when he predicts that there's nothing in heaven that can stop it from happening.

He could easily be engaging in an unethical pump and dump.

[Uncle Joe]

7. He's wearing a blue shirt and a pink tie, I believe he's having some internal conflict going on.

No doubt he's heavily invested in put options.

[whatchamacallit]

9. That occurred to me as well, but...

It's one thing pumping a stock, another believing your statements can turn the entire market. He may actually mean what he says.

[Uncle Joe]

11. The market is already in turmoil or major flux,

he probably feels it wouldn't take much energy to push it over the edge.

[FBaggins]

13. He doesn't need to "turn the entire market"

He just needs to keep nudging it in the right direction and scare enough people.

He isn't doing this alone. There are scores of people in various media and positions who are happy to help.

A gold bug pump/dumper can claim that gold will hit $4,000 by the end of the year, but he doesn't need it to do anything like that to make a profit. He just watches it jump $100 tomorrow on the "news" and his work is done.

This guy doesn't need Europe to fail to make a buck. He just needs another day/week of panic.


Which is not to say that Europe isn't in trouble. I've been saying since the Euro was created that it's a disaster waiting to happen. You can't succeed long term when multiple countries share a common currency (and thus monetary policy) but not a common fiscal policy or government. They must eventually move toward a loss of sovereignity or a loss of the currency. I see no middle ground that can last.

[Amonester]

36. How 'bout a 'silly' idea of ONE currency for the ENTIRE world?

Imagine...

All these profiteering leeche$ who never produce anything else than fearmongering blah-blah-blah 24/7 would have to start looking for WORK right away...

Can't have that.

[stockholmer]

41. so you're advocating a one world currency? if so,do you fully understand the ramifications of this?

If you think that the global systemic controllers have the power to chattelize 99% of humanity into perpetual debt peonage now, just wait till they have utter and direct control of ALL fiat money. You haven't seem anything yet.

[Amonester]

44. Of course, 'it' would have to be an 'utopia' for...

'it' to work 'fairly' (with 'solid' regulations...)

At this point, this species of stupid mortals is heading straight into its own extinction.

There's nothing anyone can do to prevent it, at this point.

The only question that remains is 'when?' at this point.

Janis was right, at this point, it's more like 'get it while you can' it seems.

[FBaggins]

49. Same problem.

You either surrender any real national sovereignity or you live with a situation where fiscal and monetary policy are handled by people with entirely different priorities (and by that I mean something very different than the Fed and Congress).

[Amonester]

69. But 'Fed' and 'Congress' have (so far) proven to be a...

FAILED experiment, no?

If not, explain the whole 'corrupt' mess...

But, I know nobody will ever be able to 'change' them 'soon enough' (unless 'someone' or 'many' will, 'before it's too late').

[JDPriestly]

53. Europe is likely to move toward more common government.

They have been working toward that end since the final days of WWII.

[pauldg0]

48. I detected that too.....

...he's a scammer !!!! Be careful !!! I'd like know of his background if I could.

[JDPriestly]

55. Yes, he is a scammer, but what do you think Goldman Sachs and

the trading world is about?

Be careful. Yes. Be careful of all of the financial traders and the world of finance. A lot of what we think is quite respectable is actually a huge scam. Do you seriously think that Bernie Madoff was some sort of anomaly? Hardly. He just did things on a much bigger scale. The whole stock market is, in my opinion, incredibly corrupt.

[TheEuclideanOne]

61. Exactly! I did not watch the whole thing, but in the middle he started sounding like Glenn Beck.

Glenn Beck does this all of the time. He goes through a long diatribe about how the economy will come to a complete collapse any second now. There is literally a 100% chance of this happening! In fact, it may even happen as I am talking right now. There is no hope for the future, Obama has ruined it and it is completely destroyed!!!!

Then he moves into the product description...

"This is why I invest my money in GoldLine! The only way to really be sure that you and your family can survive the collapsed economy is by buying gold from my sponsor, Goldline!!"

All fucking bullshit to sell his products. It is like one big infomercial. His advice can be considered a Tax on the stupid.

Beck (Limbaugh Too) does this every single day. I am paraphrasing a bit, but he goes on to say.... "But wait, if you are that fucking stupid, but still have money left over in your savings? No need to worry, you can buy Food Insurance. That's right! If you listen to the news (delivered by me), You have heard that the economy is going to collapse and you don't want your family to starve, do you? Of course not, buy food insurance so that when the world comes to an end, you will have food for your family."

Un-Fucking-Believable! Yes, people are just that stupid.

But wait, there's more.... He is now trying to convince his listeners that Food Insurance can be used for times, pre or post Apocolyptic. Today, he was urging people more heavily than normal. He was saying that Food Insurance can be used for unemployment, hurricane, etc. Sure, if you are unemployed you can eat that 3 day supply of food that you spent $500 on. In fact, he said that some customers are not telling their spouses because their spouses are making fun of them. So he is encouraging that a wife or husband, where say the husband is taken in by Beck's ignorant bullshit, to ignore the wife, spend all of their money on Food Insurance but just don't tell her. Simply hide it. She will be angry because you can't pay the bills, but you just wait. She will appreciate later when he reveals it during the apocalypse. Imagine the conversation, "Wow, the entire US economy has collapse and we have 80% unemployment. Well, suprise, I can feed us with this backpack of food that I spent all of our money on."

[OVERPAID01]

50. It is the truth

As a stock broker myself. It is simply much harder to make money on guesses and estimations of which stocks will increase in value and which ones will pay out the desired dividend amounts that are required to off set the initial investment fees. The brokers he is referring to are sharks, they handle the large accounts and wait for the opportunities to strike. The result is a minor bump in the road becomes a freight train of negative investing as all the sharks circle the problem and exploit it. This is why someone's retirement account is shredded when the economy tanks but doesn't recover when the market does. The big investors don't invest in up swing markets only the down turn, due to a lack of regulatory restrictions the profits are in the down swing on a much easier and larger scale.

[FBaggins]

52. He isn't a broker

or even ever employed by one.

[Fire Walk With Me]

5. Also responding so I can watch it later. Permalinking in case.

[russspeakeasy]

6. Very interesting....and thanks for the post iamtheband.....

:evilgrin:

[Dawson Leery]

8. k/r

[meegbear]

10. It may be a "Yes Men" hoax ...

If it’s too good to be true then it very often is.

A city trader who set jaws dropping on Monday after apparently confessing that he goes “to bed every night and dreams of another recession” has been branded a hoax.

Self-styled trader Alessio Rastani, 34, made world headlines after his bizarre appearance on the BBC.

But his interview has come under close scrutiny – resulting in Rastani being linked to a group of Internet “imposters” known as The Yes Men.

Many believe Rastani is in fact Andy Bichlbaum who created the group as a way of exposing lies and telling the truth in society.

'Rastani' is accused of a series of similar hoaxes including an appearance on the BBC in 2004 in which he claimed victims of the Bhopal disaster would receive compensation.

In the YouTube video from the 20th anniversary of the incident a man – who looks and sounds remarkably like Rastani - says he’s a spokesman for Dow Chemical which is paying out the money.

On Tuesday the BBC stood by the authenticity of their interviewee. "We've carried out detailed investigations and can't find any evidence to suggest that the interview with Alessio Rastani was a hoax.

<snip>

http://www.huffingtonpost.co.uk/2011/09/27/alessio-rastani-hoax-on-bbc_n_983156.html


Verrrry Interesting.

[Poll_Blind]

12. Ha! That would be delicious!

PB

[FBaggins]

18. Even if he isn't, we've now seen enough that the original video is worthless.

In interviewing him to check on this "yes men" theory, he's given enough information to make clear that this isn't someone who should ever have made it onto a TV interview. He's a tiny day trader with virtually no experience. This isn't someone who knows the in's and out's of the markets giving sage advice. It's a punk kid who thinks that making $20k on a trade is a great week.

[Modern_Matthew]

23. He is the epitome of everyone involved in trading as a career.

I'm not usually one to make generalizations, but I will always make exceptions for scum like those on Wall Street.

[FBaggins]

24. Hardly. There are plenty of traders (he majority in fact) that look to profit...

... from companies making money. Rather than shorting them and rooting for them to die.

What he is is the epitome of the caracature of Wall Street profiteer. Which is why the hoax theory popped up. That's how this group works.

[go west young man]

34. The man in the video at your link is at least 10 years older

than this man. He looks totally different. A layman can easily see they are not the same men.

[alfredo]

35. I ran the videos side by side, there are enough differences

to say it isn't the same man. Look at the ears, look at mannerisms, listen to the slight lisp in the voice of the man in the Bhopal video. This doesn't mean it isn't a hoax, it just isn't the same man.

[JDPriestly]

56. Wouldn't make it a bit less true.

He describes exactly how Goldman Sachs works. That is the reality of the world of finance.

[Poll_Blind]

14. WSJ Blog: Alessio Rastani Is Not Exactly Saying Anything All That Radical

From the WSJ Blog:

The Internets are ablaze with amazement over some fella named Alessio Rastani, who left jaws agape on both sides of the Atlantic by going on the teevee and saying scary things. But what he said was really not all that shocking.

There was initially a lot of debate about whether Mr. Rastani, identified during his BBC interview as an “independent trader,” was for real or a prankster. He is clearly unpolished in the BBC interview, in which he admits to going to bed every night dreaming about a recession and the rich money-making opportunities it will bring, but he appears not to be a hoax. This long interview with Emily Lambert at Forbes makes that case.

So what’s he saying that’s so mind-blowing? Kid Dynamite breaks it down and finds it shouldn’t be all that shocking:
CLICK TO SEE THE BREAKDOWN

Goodies at the link!

PB

[ixion]

15. k/r

Whether he's for real or not, he's speaking the Truth, and trying to warn people.

As he said: "The worst thing you can do is to wait."

[CoffeeCat]

25. So, he's telling us to get our money out of...

...the market and invest in treasuries?

He said that Goldman rules the world, not the governments. Ok, fine--Goldman rules the
world. What does that mean for investors? Is he asserting that Goldman rules the world
and they don't give a rip about the stock market and if it crashes--and that is why
it will be collapsing?

I'm just trying to understand how the markets and the world will work with our new overlords.

[ixion]

29. he gave that as one possible way... I got the idea, though

that he wasn't showing his ace, as it were. He came off, to me, as a conflicted trader. He didn't want to give away his really good secrets, but he wanted to let people know that something big was coming, because his conscience was bothering him. That was my take on it, anyway.

[CoffeeCat]

32. I sensed exactly the same thing...

I watch a lot of CNBC and I see an endless parade of seasoned mucky mucks commenting on everything from
coffee beans to cameras. I also have worked in corporate PR for many years, and I know baloney when
I hear it--which is 98 percent of what is presented on these news programs.

This guy was authentic. A bit green and not as ruthless as most of them--but I believe he spoke from the heart.
I doubt people in his world are thrilled with him, either!

I think he blurted out the things that insiders aren't supposed to say. Everyone knows the realities, but to hear
them from a trader--was a bit jarring. I wasn't bothered by his, "I dream of a recession" comments. I mean, come
on--we're all grown ups. We know what traders do. They make money off of the markets--on the highs and lows. It's
all numbers to them--not people or lives. It's pathological--but that's the world and language of all traders.

But most traders don't say those things out loud. So, when he gets into the second half of the video, "Governments
don't run the world...Goldman Sachs does", I believe he was still speaking truth and saying out loud things that
ALL of them live and breath daily. Matt Taibbi's articles illuminate the same things.

I imagine many industry stalwarts are pissed at this guy. It's one thing to have Taibbi say it--but to have an
insider say it--is another.

I believe these guys live this reality every day. After a while, pretending that Goldman doesn't run the world--
seems exhausting and ludicrous. It's just like in the Wizard of Oz. After a while--the fakery will be exposed.

I think the mask is slipping off--because the reality is becoming more clear as the corporations and our politicians
(and their corruption) becomes more brazen and obvious. There is a total disconnect on this planet. There are
those "in the know" involved in this corrupt machine--and then there's the rest of us--who are being played to, lied to
and kept in the dark.

You can't continue the drama forever--especially when these punks are in the process of taking over the entire world.
The curtain, is being raised on the reality, in my opinion--because it's just so obvious, as this guy said--that the
governments aren't in control--it's the corporations.

[CarrieLynne]

16. wow....I'll just place my jaw on the floor here next to all of yours...

[reggie the dog]

17. invest in drugs

gold may go down in value, but aside from leglaization which is not likely at all, heroin and cocaine will hold value, weed to a lesser extent but drugs that get people hardcore hooked, hell even tobacco, is where smart money will be. make money off of the misery of others, its the american way

[JNelson6563]

22. Black markets thrive when stock markets crash

Of course they thrive when the stock market goes up too. That's the thing about the black market, it's so much more consistent than the stock market....

Julie

[truedelphi]

60. Wanda Sykes was asked by Letterman how her money was doing during the hard

Time of Fall 2008.

She laughed and said something to the effect that her assets are tied up in pot. And that as a result, she can't go wrong.

And the same thing is true of my local economy.

It's harvest time, and everywhere you go, all you see are smiling faces. (I live in Northern Calif.)

And just in case some of the DU trolls work for DEA - I can't go near a joint, as I'd sleep for three weeks. But the effects of living in a place that has autumnal happiness as a regular routine is very uplifting.

The real DEA doesn't even care - the head of the DEA for Northern California said on the Money channel's interview for their hour long "Marijuana Expose" that in part, he goes by the will of the people - and the people no longer want marijuana growers who use their own garage or back yards for growing, to be punished.

In Northern Calif., that sums it up. Although we all do want marijuana growing by the Mexican cartels and other slimeball elements who illegally use our national, state and county forest lands to be prohibited.

[iamthebandfanman]

19. BBCs statement on 'Hoax' accusation

can be found here :

http://www.bbc.co.uk/pressoffice/pressreleases/stories/2011/09_september/27/statement.shtml



im not taking a side on it either way, just glad someone was on a major media outlet saying what we all already thought ;)

[FBaggins]

21. What's the difference between "independent market trader" and "daytrade from mom's basement"???

And how on earth does one of them get invited to share their opinion on a global economic crisis on TV?

By his own description he's been doing this for about five years. What's his opinion worth?

[CoffeeCat]

26. The 24 hour news cycle...

...dictates that more people will end up on television.

I don't think the fact that he's only a trader is a big deal. He's obviously
a big-time trader. Plus, you're forgetting something. He's hot. If you're hot,
and you're articulate, they can position you as a quasi-expert--then you get on
tv and you get to have an opinion.

It's not that big of a mystery.

And this guy seems legit. He firmly understands the inner machinations in the
financial world. "Goldman Sachs rules the world, not the governments". The
guy gets it.

This guy may not be some seasoned vice president from Bank of America--but we'd never
get the truth from those entrenched, corrupt liars.

This guy is just green enough to spill the truth. He's not saying anything that Matt
Taibbi hasn't said. I don't get why there's an effort to discredit him in various ways.

He's on the inside and he gave us some inside truth.

[FBaggins]

30. I can't speak to whether or not he's "hot"...

...but he was far from articulate. A later interview with him makes that even clearer.

He's on the inside and he gave us some inside truth.

He is by no means "on the inside". That's the point. The story is one big circular argument. It attempts to demonstrate that a position is true because someone "in the know" has finally confessed to it... yet the evidence that he's actually "in the know" is that he says what the author already believes to be true.

He's a guy sitting in his mom's basement trading his own newspaper-route money for a mere five years. If there is a grand conspiracy by GS (etc) to control the world, men such as this are not inside their circle. He learned from other guys sitting in their mom's basements... he never even worked for one of the big (or even small) name firms.

[CoffeeCat]

33. He's inside enough to know that Goldman rules...

...the world and that our governments--at this point--are not in control.

Anyone who is paying attention--knows that this is true. Our government has been
stacked with Goldman Sachs lobbyists, former employees and other kings of Wall Street.

Robert Rubin, former Treasury Secretary was a co-director at Goldman.
Larry Summer's top deputy was a Goldman guy--and the point person on the TARP bailout.
Plenty of Obama's people have Goldman connections.

The banks were deregulated and Glass Steagall was dumped--because Wall Street and the
banks paid our politicians for this legislation.

What this insider was saying--regardless of your personal feelings toward him--was SPOT ON.

Corporations rule the world and our governments are beholden to them--because of dirty money and corruption.

No one who has been paying attention--can argue that.

[FBaggins]

46. Like I said... that's a circular argument.

We can't simultaneously use this interview as an insider revealing something that we suspect to be true and have as evidence that he's an "insider" the fact that he agrees with what we suspect to be true.

The simple fact is that he is in no sense an insider. We may agree or disagree with what he says, but we can't offer him as any sort of authority on the subject because he simply isn't.

[JDPriestly]

58. "Insider" He is not an insider in one sense because he is not a part of

Goldman Sachs or Morgan Stanley or any of the big trading houses and did not purport to be a part of one of the big institutions.

But he is an insider in the sense that he has studied the realities, the day-to-day transactions in markets and trading and drawn certain conclusions based on what he has seen. In that sense he is an insider compared to most people who have never traded on a regular basis and whose biggest investments are in their cars, homes and bank and retirement accounts.

Whether he has ever worked at Goldman Sachs, what he is saying makes sense if you have ever watched the markets yourself or read any of the critiques of the manipulation of the stock market including Matt Taibbi's books and articles and quite a few others. Listen to Max Keiser and you can learn something about the cynicism of the big trading companies.

Read the European newspapers and you will see that European politics are reversing -- trending to the left (except in the UK), which is a natural response to Wall Street's overplaying its hand.

So, whether he is an "insider" depends on how you define the term -- whether you limit it to employees of Goldman Sachs, etc. or whether you include traders who have an inside view of the markets. This can include a lot of people.

Someone with a lot of training in computers and mathematics may have more insight into what is going on in the markets than the folks at Goldman Sachs, etc. would ever admit to among themselves.

[sabrina 1]

28. He's not saying anything that British and European economists have

been saying for months now. One blog I follow by a British blogger has predicted what is happening almost every step of the way, and he is saying now that we are in the 'last act'. He also says that no one, not Christine Lagarde, Sarkozy, Bernanke, Merkel, the EU, none of them know what to do. He always predicts what they are going to say when they speak to the press, and it's uncanny the way he almost always is right.

He says all they've been doing is 'kicking the can down the road' and he agrees with this guy in the sense that they don't care about the people. They are trying to save what they have.

If he's a fraud, I don't think it matters, he's just saying what apparently a lot of people already know. They are desperate. The mess they made was so massive it probably can't be fixed, and they can't keep raiding the taxpayers, or implementing their Austerity programs, they people are pushing back and refusing to go along in many countries. And the blogger I mentioned says they are scared to death.

And yes, he is 'hot'! Lol. sounds like he was warning people more than anything else.

[chervilant]

40. Well, now...

Our entire political system is broken--totally co-opted by the corporate megalomaniacs who've usurped our media, our government, and our global economy...

I've said this before, but it bears repeating:

I read Rachel Carson's Silent Spring when I was 12. When I finished Carson's iconic treatise, I made two fundamental decisions: 1) I would not bear children, and 2) I would be an activist for the rest of my life. I am thankful that I've achieved both these goals, considering our species' imminent ecocide.

During my 55 years on this planet, I've witnessed:

~heavy metal pollution of virtually all of our groundwater

~inexplicable declines in honeybee populations (now linked to clothianidin)

~nutritional deficiencies in almost every fruit or vegetable harvested since the 70s

~vast swaths of soil erosion and silt runoff

~measurable declines in the quality and flavor of most produce

~GLOBAL monopolies on seed stocks, and genetically modified foods

~cross contamination of vegetable foodstuffs from cattle and dairy operations

~inhumane treatment of cattle, sheep, goats, pigs, calves, chickens, turkeys, geese and ducks

~Bhopal

-Three Mile Island (tyvm, No Elephants)

~Chernobyl

~Fukushima

~oil spills in the Gulf (and, apparently, an irreparable fissure now leaking even more oil)

~the nationwide existence of 'Superfund Sites' that are so toxic, massive amounts of our tax dollars have been allocated to 'clean up' these abandoned, hazardous areas (visit Superfund websites and you'll find "Superfund for Kids!")

~destruction of the planet's rain forests (actually, widespread deforestation)

~global climate change, resulting in extreme weather conditions worldwide

~a pile of floating garbage--in surface area, twice the size of the state of Texas--in the doldrums of the Pacific Ocean (and another similar carpet of plastic in the Atlantic...)

~a measurable decline in the amount of food fish we pull out of our oceans and lakes (with toxic levels of mercury in tuna and other large fish)

~an exponential increase in obesity, diabetes, heart disease, and other diseases directly linked to the consumption of refined sugars (let's not even BEGIN to discuss hydrogenated oils...)

~a growing percentage (almost half) of functionally illiterate (thus, easily manipulated) adults in the US

~a now ubiquitous 'message delivery system' (television) that has turned a significant number of humans into distracted, misinformed zombies

~a dangerous economic system that concentrates the wealth of this planet into the hands of a VERY few at the expense of the VERY many

~destructive, endless 'wars' based on lies and profitability

-Depleted Uranium (and bio-weapons so toxic that the US stockpile alone could decimate the entire world population)

~a radical shift to exponential growth (read 'change') that few recognize and even fewer discuss.

Sigh...

We are like a plague of voracious locusts on this planet, fouling the air, water, and land while destroying entire ecosystems. AND, in these exponential times, the catastrophic economic 'transformation' we're witnessing in our global economy promises to inflict challenges we have yet to envision.

Did you know that a third of US students surveyed do not expect to live into their old age? (In case you don't remember, for teenagers thirty is old age...)

The 'whining' Obama and his sycophants denigrate is actually the justifiable grumbling of the hoi polloi, as more of us awaken to the reality of the jack boots of the uber wealthy clamping down across our necks. These vile corporatists are daily increasing their stranglehold on our lives and our livelihoods. Do they expect us to go quietly into their dark night?!

Our species has reached critical mass. The decisions we make RIGHT NOW will determine whether we continue to evolve into the erudite, peaceful and creative beings we KNOW we can become; or devolve into the ignorant, aggressive, and fearful beings we vociferously deny being at present *and* during most of our past.

At this unavoidable fork in our evolutionary path, which way do YOU think we'll go?

(Many of us (self included) predicted the S&L debacle months before it happened. Many of us (self included) have been sounding the warning bells about the current global economic catastrophe for several years now. I recognized the imminence of our global economic reordering when I refused to sell the toxic sub-primes we loan officers were being 'encouraged' to market at the height of the housing bubble. Now, after two regrettable, ethically challenging, never-to-be-repeated tenures in the financial arena, I have learned this: banks always, always, always, always, always, always--have I said always enough?--ALWAYS get their money.)

[sabrina 1]

54. Wow! excellent post. You really should make it an OP

Especially since you have so much experience with the banking system. Like so many people, I know nothing about economics and had to make a real effort to try to understand what they had done to the world's economy, after seeing the desperate Henry Paulson rushing in to Congress with his three page edict in his hand, demanding, not asking for, demanding nearly one trillion dollars to bail out failed banks. That woke up a lot of people, I think.

This made me smile, as it reminded me of George Carlin:

We are like a plague of voracious locusts on this planet, fouling the air, water, and land while destroying entire ecosystems.

Can't remember his exact words, but he said 'the planet will be FINE, don't worry about the PLANET, it will shake us off like insects when it has had enough'. Or words to that effect.

Seriously, your comment is excellent and if you do make it an OP, PM me so I can rec it. :-)

[JDPriestly]

59. Thanks.

[jwirr]

37. Just one question - is he speaking global truth or EU truth? I thank

him for the truth and not just one truth but a whole bunch of truths, finally.


Goldman Sachs rules the world.

[deathrind]

38. The Truth

He is right. I read a story saying this was a "Yes" men prank but if so it is still true. Watched a documentary years back called "The Corporation" where a trader being interviewed basically said that 9/11 was a human tragedy of course but more importantly it was a gift to those trading in oil. That the first thing he and other traders thought as they watched the towers fall was what that price of oil was at. These people have no compunction for humanity it is all about the dollar. There were many many people who got rich off the last economic collapse and there will be many more who get rich off the next one.

[DeSwiss]

39. Right now the ''rulers of the world'' are getting hammered:

http://finance.yahoo.com/q?s=GIV11.CME">GIV11.CME Goldman Sachs Commodity Oct 11 615.00 8:55AM EDT Down 49.00 (7.38%)


- Of course since they own everything, win or lose, they are no doubt still making an obscene amount of money.......

K&R

[TexasTowelie]

63. Can they short their own stock?

I know that it is unethical, but that certainly wouldn't stop them.

[DeSwiss]

67. Can they?

- Apparently.

[JuniperLea]

64. The money just moves...

From the left pocket to the right... from the coat pocket to the vest... it's a shell game and the money is always right where it always is... only the slight of hand and smoke and mirrors change.

[DeSwiss]

68. And on top of all that.....

...none of it's real.

[JuniperLea]

70. There's that...

:crazy:

[tinkerbell41]

42. I've followed Karl Denninger since 2007

While I do not agree with his politics, he has been spot on with his predictions. It was because of him I didn't lose "half" my annuity money again like I did in 2001? 2002? Karl has been talking about what this guy said since at least 2007. I don't understand all of it I am not well versed in finance but we are very close to hitting the wall. And he is right it doesn't matter what bailouts, job plans, etc.. they institute we are screwed.

[KansDem]

43. "Protect our assets."

What assets? :shrug:

[Katashi_itto]

45. There are powers out there that will make the largest amount in history

by crashing the global economy. One only has to watch the slow positioning of the heavy hitters to know something is going on. The nice thing is the Republicans will be swept away like the sewage they are.

Course most governments will be swepat away too.

[Amonester]

47. Can't wait to see all these despicable psychopath$ try to eat...

their own paper money, or gold bars, or effin' diamonds...

Wish to survive long enough to see that... :evilgrin:

[Katashi_itto]

57. Thats the rub. They will end up starving to death...after us.

But once you rip up the food and support infrastructure. Falling back into something like the dark ages won't be hard. Fiat money can't buy energy, energy cant be converted into food. Food cant be distributed.

I sort of envision a world like the movie "The Road"

After a while Gold and diamonds become worthless too, you cant "eat" them.

Energy becomes the new commodity.

[tkmorris]

66. Who do you imagine owns the food and water resources?

It aint us.

[Jackpine Radical]

71. Ownership may be a difficult principle to enforce

after the army & the police have rebelled & joined the 99%.

[pam4water]

62. K&R