…or so says independent trader Alessio Rastani who appeared on BBC news earlier today and made quite a splash. He made some fairly shocking statements centering around his claim that the Eurozone rescue plan is going to fail and the Eurozone market will, in turn, fail. His claims included, “Markets are ruled, right now, by fear; investors, the big money the smart money […] they know the market is toast” and, “This economic crisis is like a cancer [. . .] it’s going to grow and it’s going to be too late,” as well as, “In less than 12 months, my prediction is, the savings of millions of people is going to vanish.” The list goes on and on (and it was only a 3 minute segment!), but the best quote of them all was, of course, “Government’s don’t rule the world, Goldman Sachs rules the world.”
After watching this clip I was very skeptical. Although what he was saying had a fairly solid basis, I wanted to know, who the hell is this guy? What is he trying to gain by saying these things? And how do I know what he is saying isn’t complete bull? So I did a little background research and found that he is an independent trader that runs a trading blog and also does trading training (say it ten times fast). I also realized a smart guy like him had to have known that these statements would be instant headlines. With this in mind, I watched the clip again.
The second time through I noticed how he keeps referring to traders, like himself, as knowing exactly what is going to happen and how they are going to make a lot of money off of it. Rastani states “For most traders, we don’t really care, that much, how they are going to fix the economy [. . .] our job is to make money from it,” and, “I go to bed every night and I dream of another recession.” But, he also gives hope that you too (an everyday guy) could make money off of a recession when he says, “It isn’t just for some people in the elite, anybody can actually make money, it’s an opportunity.” and also, “If you know what to do, if you have the right plan set up, you can make a lot of money from this.”
So let’s put this all together. An independent trader, who makes money training people on how to be traders, goes on BBC news, makes headline grabbing statements, claims the eurozone economy is going down, but says he is excited because he is going to make lots of money off of it, and then says that if you know what you are doing you too can make money. Needless to say, I’m still skeptical.