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Jokes/Interweb Things Thread, Hoax (or just overly candid!) Stock Trader on BBC in Fun Stuff; ...
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    flyinghaggis's Avatar
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    Hoax (or just overly candid!) Stock Trader on BBC



    It's probably a joke but it does make you wonder exactly how far from the truth it is


    The 'trader' at the centre of a controversial interview, in which he claimed the City just 'loves' a economic disaster, was today accused of being a hoaxer.

    Twitter users took to the social networking site to 'out' the City trader as an imposter and claimed he was a member of a group of hoaxers, hours after an astonishing interview on the BBC.

    Interviewers were left open-mouthed as Alessio Rastani admitted that traders 'don't really care that much' about the prospect of an economic collapse.

    He astonished BBC viewers yesterday by describing his hopes of profiting from a recession, adding: 'The governments don't rule the world - Goldman Sachs rules the world.'

    The self-styled 'independent trader' also claimed he had been 'dreaming of this moment for three years', as the global economy faces continuing uncertainty.

    However sceptics took to Twitter today to claim Mr Rastani was merely impersonating a city trader and was even a member of political hoaxers the Yes Men.

    One user said: 'It doesn't matter if it was Alessio Rastani or The Yes Men. What he said reflects how traders really think.'

    In an interview on BBC News, Mr Rastani predicted, 'The market is toast.'

    But when presenter Martine Croxall asked him what the solution was, he admitted: '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.'

    He added: 'I have a confession - I go to bed every night and I dream of another recession, I dream of another moment like this.'

    His comments came on a day of turmoil in the stock market, with major indices going up and down throughout the day.

    Shocked Ms Croxall replied that 'jaws have just collectively dropped' at the trader's comments.

    'We appreciate your candour,' she added, 'however, it doesn't help the rest of us, does it?'

    But Mr Rastani insisted that 'anybody' can profit from a catastrophic crash with the right 'hedging strategies', and drew parallels with the 1930s Depression.

    He concluded: 'The 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 going to grow and it's going to be too late.'

    The presenters were almost dumbstruck at the end of the interview, as Ms Croxall's co-host asked her, 'Do you dream about the economy at night?'

    'I try not to,' she replied. 'Nightmare.'

    Mr Rastani's outburst drew a mixed reaction from viewers.

    His Facebook page was flooded with people asking for investment advice, but not all internet users were so complimentary.

    One Twitter user described Mr Rastani as 'jaw-droppingly amoral', while trader Jack Gavigan wrote: 'If Alessio Rastani is such a great trader, why does he spend time teaching people instead of, y'know, actually trading?'

    Mr Rastani's website, LeadingTrader.com, is full of pictures of his speaking engagements, but provides little information about his own trading experience.

    News | Mail Online...

    TheSun Website
    TV viewers were left stunned last night after a self-styled trader claimed bankers were "dreaming of another recession" so they can make more money.

    BBC 24 newsreaders sat "open-mouthed" in amazement at Alessio Rastani's outburst — but today there were claims the outrageous interviewee was a hoaxer who managed to dupe the news channel.

    Rastani said traders "don't really care that much" about the prospect of an economic collapse and told of his hopes of profiting from the recession, adding: "The governments don't rule the world - Goldman Sachs rules the world."

    During the shocking interview, he said: "The market is toast. 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.

    "I have a confession - I go to bed every night and I dream of another recession, I dream of another moment like this."

    But Rastani's credibility came under question today as bloggers claimed he is a member of a group called the Yes Men, who pose as fake interviewees for the media.

    Doubts about his alleged success as a trader were also raised as it was pointed out on Twitter that he is not currently employed by a bank or fund manager.

    Rastani described himself as an "experienced stock market and forex trader and professional speaker". His website is dedicated to his public speaking.
    Quantcast

    Rastani appeared on the channel as stock markets worldwide were hit by another day of turmoil.

    A shocked BBC presenter told him "jaws have just collectively dropped" after his scandalous words.

    She added: "We appreciate your candour, however, it doesn't help the rest of us, does it?"

    Rastani replied that "anybody" can profit from a recession if they use the correct strategies.

    http://www.thesun.co.uk/sol/homepage...k-BBC-outburst....

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    eejit's Avatar
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    wow, thanks for posting.

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    jinnantonnixx's Avatar
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    He's probably just too honest for his own good.

    Soros (a currency trader) made $ONE BILLION PROFIT (!!!!!!) betting against Sterling - all in a big gamble.

    Black Wednesday - Wikipedia, the free encyclopedia

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    MK-2's Avatar
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    Quote Originally Posted by jinnantonnixx View Post
    He's probably just too honest for his own good.
    I think the word you're looking for is "dick"

    Too honest for his own good? So him saying he prays for another downturn is just being candid?
    So me saying I pray for another holocaust because I could profit from it would be seen as just candid honesty? (yes thats right, I used the holocaust as a rather extreme example!)

    This man profitted from an event that is hitting millions hard. Rather than showing some humility and compassion he thinks "yeah bring it on, let thousands of OAPs and poverty stricken families die, I want another house"

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    The only thing they're interested in making money.

    They look after number one - and number one isn't you or me.

    So, yes, he had a brief flash of honesty, let his guard down and said what he thinks. Unless of course, it really was a hoax.

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    flyinghaggis's Avatar
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    Some more updates from the BBC website on his comments :-

    BBC News - Maverick trader: Was what he said actually right?

    The more I read the more I suspect he was just saying it for attention/fun or perhaps even personal gain. Bearing in mind that if he's bought stocks on the expectation that Euro will fail it's in his interest to promtote the idea that it will happen!

    Personally I don't think we'll see the end of the Euro any time soon. For whatever reason there seems to be a huge amount of support for it amongst the powers that be. In fact just this minute Germany have voted to back another "bail-out" package for Greece!

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    localzuk's Avatar
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    It doesn't matter if he was a lowly day trader living in a semi, or the CEO of Goldman Sachs. What he said was pretty much right.

    The people working in the money markets don't care about the economy - they care about making money and living the lifestyle. If a recession will help them do this, they'll want a recession.

    Anyone who thinks differently is naive to say the least!

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    flyinghaggis's Avatar
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    Lol, ITV put him back on again!

    Alessio Rastani: "David Cameron and Barack Obama Are 'Slaves To The Capitalist Gang Bang' "

    Last edited by flyinghaggis; 3rd October 2011 at 10:50 PM.

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    Quote Originally Posted by MK-2 View Post
    I think the word you're looking for is "dick"

    Too honest for his own good? So him saying he prays for another downturn is just being candid?
    So me saying I pray for another holocaust because I could profit from it would be seen as just candid honesty? (yes thats right, I used the holocaust as a rather extreme example!)

    This man profitted from an event that is hitting millions hard. Rather than showing some humility and compassion he thinks "yeah bring it on, let thousands of OAPs and poverty stricken families die, I want another house"
    Do you feel guilty every time you order a piece of electronic equipment? People are dying from the pollutants put in to the groundwater in China when they extract the rare earths using an acid leaching process. When your old computers are disposed of under the EU's recycling directives, they're taken to India and dumped on a beach. There, small children are used to collect the circuitboards and melt them over open crucibles to extract the metals. The circuitboards are coated in flame-retardant chemicals which are toxic and which poison the children - facial lesions, breathing difficulties, skeletal deformities.

    The distance that separates your purchasing decision from the consequences of that decision affects how much you care. If it was your child being poisoned, you'd act. Since it's someone else's in a foreign country, you don't. The principle is the same.

    I don't think it's just a matter of 'showing humility and compassion'. This guy didn't cause the recession. He didn't create the conditions for it. But should he be poor because other people are poor, and should his children go without because other children are?

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    localzuk's Avatar
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    Quote Originally Posted by Flatpackhamster View Post
    When your old computers are disposed of under the EU's recycling directives, they're taken to India and dumped on a beach. There, small children are used to collect the circuitboards and melt them over open crucibles to extract the metals. The circuitboards are coated in flame-retardant chemicals which are toxic and which poison the children - facial lesions, breathing difficulties, skeletal deformities.
    No, that is NOT true. Under EU regulations, that specific thing is illegal.

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    MK-2's Avatar
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    Quote Originally Posted by Flatpackhamster View Post
    Do you feel guilty every time you order a piece of electronic equipment? People are dying from the pollutants put in to the groundwater in China when they extract the rare earths using an acid leaching process. When your old computers are disposed of under the EU's recycling directives, they're taken to India and dumped on a beach. There, small children are used to collect the circuitboards and melt them over open crucibles to extract the metals. The circuitboards are coated in flame-retardant chemicals which are toxic and which poison the children - facial lesions, breathing difficulties, skeletal deformities.

    The distance that separates your purchasing decision from the consequences of that decision affects how much you care. If it was your child being poisoned, you'd act. Since it's someone else's in a foreign country, you don't. The principle is the same.

    I don't think it's just a matter of 'showing humility and compassion'. This guy didn't cause the recession. He didn't create the conditions for it. But should he be poor because other people are poor, and should his children go without because other children are?
    And yet at the same time I'm not going on TV saying "I hope millions of children in India and China die because I'm rich and want a brand spanking new tv in every room of my house." yet he is wishing for an economic downturn which will cause poverty to many across many countries, just so he can get richer.

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    Quote Originally Posted by localzuk View Post
    No, that is NOT true. Under EU regulations, that specific thing is illegal.
    Where does e-waste end up? | Greenpeace International

    Sorry, but it does happen. The EU's ruling has made it harder to recycle within the EU due to the increased costs of regulation, so it's shipped to third-world nations.

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    localzuk's Avatar
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    Quote Originally Posted by Flatpackhamster View Post
    Where does e-waste end up? | Greenpeace International

    Sorry, but it does happen. The EU's ruling has made it harder to recycle within the EU due to the increased costs of regulation, so it's shipped to third-world nations.
    No, you said that it happens under the EU rules, which it doesn't. It happens contrary to the EU rules. I didn't deny it happens, its well known that it happens, but the EU can and does prosecute organisations for doing this.

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    Quote Originally Posted by MK-2 View Post
    And yet at the same time I'm not going on TV saying "I hope millions of children in India and China die because I'm rich and want a brand spanking new tv in every room of my house." yet he is wishing for an economic downturn which will cause poverty to many across many countries, just so he can get richer.
    How would showing humility make the misery for those people go away?

    I'm not saying that he's a nice person, but I am saying that railing at him for not being a nice person is like railing at water for being wet. We all act in ways which affect others but we choose not to think about it.

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    Quote Originally Posted by localzuk View Post
    No, you said that it happens under the EU rules, which it doesn't. It happens contrary to the EU rules. I didn't deny it happens, its well known that it happens, but the EU can and does prosecute organisations for doing this.
    Sorry, I should have been clearer. It happens as a direct result of EU rules.

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