BBC Releases Official Statement On Alessio "The Trader" Rastani: He Is Perfectly Legit And The Interview Was Not A Hoax
Zero Hedge's post yesterday of a trader telling the BBC how he (and everyone else) really feels about the current cataclysmic situation, went viral, and as of this writing, was about to generate 100,000 hits (legit ones: no slideshows were massacred in the creation of a some CPM abortion). Needless to say, the trader in question, Alessio Rastani, very suddenly and violently entered the public's eye, the most amusing side effect of which was the emergence a fringe group claiming that just because he looks like some other guy, that he is a spoof, and this was immediately used by the conventional media to attempt to discredit him. And as usually happens, this has backfired. The BBC has just released a statement confirming that Rastani is, indeed, a trader, and that all those (Forbes) who have nothing better to do than to attack the messenger and not the message, may be better advised to taking a Math 101 class and realizing why we are all scroomed, instead of polishing their character assassination skills. To everyone else who attempted to marginalize Rastani, "suck it" is not exactly what we would like to say, but it sure does the job. And to that we would like to add that just because Larry Summers is a spitting image of Jabba the Hut, that does not make him an automatic member of the "Tattoine Men" comedy troupe.
Full BBC Statement:
Statement on BBC News channel interview with trader Alessio Rastani
Date: 27.09.2011
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."
BBC Press Office
And Statement from the Yes Men:
The Yes Men wish to commend Mr. "Alessio Rastani" for his masterful performance as "trader" on BBC World yesterday. Mr. Rastani's real name is Granwyth Hulatberi; he once appeared on CNBC MarketWrap as a "representative" of the WTO. Well done, Granwyth! You're getting better and better.
Just kidding. We've never heard of Rastani. Despite widespread speculation, he isn't a Yes Man. He's a real trader who is, for one reason or another, being more honest than usual. Who in big banking doesn't
bet against the interests of the poor and find themselves massively
recompensed—if not by the market, then by humongous taxpayer bailouts?
Rastani's approach has been completely mainstream for several years now;
we must thank him for putting a human face on it yesterday.
If you'd like to see the human face of the human perspective—the perspective of the 99% victimized by our demented and out-of-control financial system—come join the occupation of Wall Street. Michael Moore did so last night,
and pointed out that in America, it's just 400 people who own as much
as most of the rest of us put together—and that when we decide we really
want to change the rules of the game, those 400 people won't be able to
do squat about it.
(32 votes)
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Outstanding!
SACKS Runs Da World, Bitchez ...
Rogue! Rogue trader, bitchezzz!
he's a night elf mohawk!
The MSM can't even handly one trader speaking their mind without going on the attack. Desperate much?
There is no love, but love of big brother... this video will undergo editing at the ministry of truth..
I hope this guy doesn't like hot tubs...
Maybe we need "I AM ALESSIO RASTANI" t-shirts in the Zerohedge store.
Telling everyone we have a collapse coming and with a death defying leap of logic saying everyone should be in bonds (backed by endless money printing) shows this guy's opinion is not legit.
And GS are merely front-men.
In admitting the system is about to collapse he gains credibility. Directing scared money into bonds at least keeps it out of commodities where it can send out a premature warning signal. He is doing great work in assisting the supression of inflation until the toiletbowl full of treasuries can be flushed.
Reminds me of the dog-walkers in my neighborhood. Someone needs to hold the bags of shit.
Dr. Head,
I hear what your are saying.
Nuff said.
His opinion is just as legit as yours is, even if you don't like it. Maybe he'll get destroyed like most independent traders, or maybe he'll be the next Nassim Taleb.
Iranian dude who pretends to be an Italian, and he recommends buying Treasurys and USD while at the same time warning that people's savings will disappear. Yeah right, he's perfectly legit.
His accent is neither Italian nor Iranian. So may be there is a voice over conspiracy there too :-p
...who work for which group of even smarter and richer men? The ones in Washington? Please.
Quick sweepstake on how they will punish him for his impudent truthiness:
a. Blackfriars Bridge
b. coproxamol ingestion and coronary artery atherosclerosis
c. Hit and Run
d. Weaponized Cancer.
e. Spraying his face with gold paint (My favorite)
Pinto he was just saying that you could benefit from a momentum trade. Give the guy a break. He was nervous but at least had the balls to speak his mind.
-
It seems to me that if there is a collapse coming, you would want to provide some guidance to people.
How much lower does he think that interest rates are going to go?
The collapse will be in paper and that is the key issue.
The only deflation will be in price of everything measured in gold and silver.
I want a Hugh Hendry "I recommend you panic" T-shirt, too, please!
You must of seen his travel videos. The guys seems to be quite a bit of a young Renaissance Man. Excellent observations here in this video of Alessio Rastani's http://www.youtube.com/watch?v=dmFKPSBWpH4 BBC or some international media outlet ought to hire him as a social reporter.
I'd like to see CNBS's Steve Lies-man have his credentials questioned and validated.
Shit, throw in MSM's Bitch - Paul Krugman.
Throw in the Nobel prize committe.
Funny that someone speaking somewhat truthful warrants PR releases. Yet, when a clown comes out of the woodwork (below) and publicly states a well known lie, no one says boo.
http://www.youtube.com/watch?feature=player_embedded&v=aWyrjwXoIqA
The dumb don't walk among us, they're on TV!!!
The "Nobel Prize in Economics" received by Krugman is actually the Nobel Memorial Prize in Economic Sciences given out not by the Nobel Prize Committee but by the Swedish Central Bank (Sveriges Riksbank).
http://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Economic_Sciences
http://en.wikipedia.org/wiki/Sveriges_Riksbank
So, the Swedish Central Bank awards a "Nobel" prize in economics to a money printing advocate.
There. You now have objective proof that printing more money solves problems.
Well......those guys suck.
Double post......scroll on by.
Just like Sarah Palin! She went rogue! USA! USA! USA!
And the Bernank has his bollocks in a Twist!
The reason Rastani is dead wrong is because everyone - and I mean, EVERYONE! - is already expecting a crash. From the smartest hedge funds to the dumbest bloggers, everyone is prepared for the armageddon trade. Just look at treasury yields - everyone is all in. Look at gold. The big guns like Paulson have already puked up big chunks of their weakest holdings, like Paulson's BAC and C positions. Or look at how the hedge funds have performed for the year.... as the market has drifted mostly up for the year, hedge funds have barely been able to keep pace with the S&P. Why? Because they're all hedged for a huge downside collapse. Everyone is on pins and needles.
Market crashes don't occur when everyone is waiting for it. Unlike the Lehman event, this Greek default has been so far telegraphed in advance, that when it finally does occur (November), it will be the biggest, anti-climatic dud of this entire crisis.
The EuroZone certainly has some massive issues to work out, but it won't lead to the armageddon that everyone is drooling over. All the big money is already hedged and waiting..... and that's why it'll be a dud.
there is obviously a point to all the delay tactics and rumors floated... they are conditioning the market to a controlled default in Greece. and so far it looks like they might pull it off.
To my untrained eyes it seems that the only problem left to figure out is how to get 2+2=5. When they solve that, we are fine.
Oh wait, then we have to figure out how to reconcile required exponential growth in the real world where you cannot print oil.
pods
2+2 does = 5 if your number system starts at 1.
My number system goes to 11.
Beautiful.
http://www.youtube.com/watch?v=EbVKWCpNFhY
Why wouldn't it equal six?
2+2 does = 5 if your number system starts at 1.
radiohead figured out this problem years ago
HAH! I have a patented process to produce oil from PLANTS!! yes simple PLANTS like in anyones garden.
All that is required is a large input of energy, which I get from conventional fuels. But the PLANTS GROW THEMSELVES!! It is simply amazing. and did I mention in is patent pending?
It's just like printing oil. I like your analogy. Yes printing oil WITH SIMPLE PLANTS!! Patents Pending on yo Nancy ass.
Market basically crashed 3 months ago... and has been whipsawing sideways the past 2 months. Lots of dead space below the recent lows... and lots of resistance above.
You want to go long below the 50 dma... good luck to you. Fundamentals are greeeeaaaat by the way... :-)
The fundamentals suck, and I have no doubt that the western world will experience a long period of no growth. But for a true market crash to occur, which is what Rastani is calling for, everyone needs to be on the wrong side of the boat - like what you saw with gold and silver this past week.
That's not the case with the equity market. Everyone is hedged and ready. The weakest links in various portfolios have already been puked up over the summer. Over the coming 12 months, the market and the economy are going to provide us with a bunch of - in the spirit of Sartre - nothingness. We'll get whipsawed around a bit, but, for the most part, we'll just drift around and end up nowhere.
All the 401ks and pensions are on the wrong side of the boat. Government is on the wrong side of the boat. Nations, states all ponzi money is on the wrong side of the boat. The world is on the wrong side of the boat who cares if a few hundred billion is on the right side of the trade if tens of trillions are on the wrong side.
401K's and pensions represent dumb money, and dumb money never reacts until the crash has already occurred. That money is always pulled near the bottom.
The remainder of your comment is a non-specific mention of governments, nations and ponzi money. I know all the arguments. I've heard all the gloom and doom. I've got all the images of armageddon in my mind: the house of cards, the multi-trillions in pryramiding derivative debt, the hindenburg omens, etc. etc. etc. The sky is falling!
So tell me, if the western world is about to implode in a spectacular ponzi fireball, tell me why the strongest, most reliable bull market in the history of Wall Street is that of treasuries. That's a 40+ year trend line you're fighting. Demand for our debt is stronger than ever. If the whole western ponzi game is about to end, tell me why we can finance our debt at record low rates. Tell me why money continues to gravitate toward our Treasury like it's some sort of neutron star. And when you answer, keep in mind, the Fed is not bigger than the bond market. If you need proof of that, take a look at rates last winter, shortly after QE2 began.
This game can last longer than you can imagine. This country has endured far worse conditions than the one now. Hell, just 35 years ago, everyone thought the USD was toast, and people waited an entire day for gas. The reason everyone is in armageddon mode now is because this is the first crisis that this generation has been confronted with. We've had it easy for decades. And now everyone thinks the world is ending. Bullshit.
Just wait until the Great Fed Jubilee, and the whole ponzi system is given a fresh breath of life. That would really piss you off, wouldn't it? They'll cut bullshit like Ron Paul's $8M in shrimp research before they allow social security to flame out. But I know that's not what you want to hear. You want to be vindicated for hoarding your ammo, your hams, and your metal. You want to prove to your friends and neighbors that your goofiness and paranoia is merited. You want to put on your camouflage, and play your juvenile G.I. Joe games of urban warfare.
Or maybe you're just a drama queen. Who knows? Whatever your reason for wanting to believe the end is near, it'll be proven wrong. Sorry, but the western world is not ending anytime soon.
Well written, but you should change the hitler face for some tits.
So tell me, if the western world is about to implode in a spectacular ponzi fireball, tell me why the strongest, most reliable bull market in the history of Wall Street is that of treasuries. That's a 40+ year trend line you're fighting. Demand for our debt is stronger than ever. If the whole western ponzi game is about to end, tell me why we can finance our debt at record low rates. Tell me why money continues to gravitate toward our Treasury like it's some sort of neutron star. And when you answer, keep in mind, the Fed is not bigger than the bond market. If you need proof of that, take a look at rates last winter, shortly after QE2 began.
OK, Adolf...who is buying Treasuries? Apart from Bernanke (who needs to keep rates low or the US blows up), China (who need to keep the Renminbi low or China blows up), Euro banks (who need to convert the dollar swaps to collateral so they can maintain leverage of 40 - 100:1 or Europe blows up), Japan (see China above) and London aka ME potentates with some hidden Chinese buying thrown in...see all of the above. Low interest rates for these reasons are not a good thing...the Treasury Bond bubble is the penultimate bubble...Soros has told us the ultimate bubble (and shown that he understands English better than most) and the only way we are going to see it with our own eyes is to keep thinking like you.
Also, please read "In The Garden of Beasts" and see if you still think your avatar is funny.
dumbass if everyone was buying gold you would see all the homeless temps on the sidewalk holding "WE SELL GOLD" signs instead of "WE BUY GOLD". more people may be hedged this time around because the last collapse is a recent memory. but what will happen when the bernank hits the print button to save all the banks and monetize 100% of govt deficit spending? The dollar will take a shit. very few are hedged for hyperinflation
Hey foolio - let me give you a hot tip..... the homeless guys holding signs on street corners have absolutely no relevance to the movements in the international gold market. If homeless guys holding street signs is your metric for supply/demand in the gold market, you're a fucking idiot.
The difference between a homeless mans sign, and a dead mans face surrounded with numbers...
belief above ZERO.
All of your rationalization is dollar based. I pity you, FOOL.
Good to see you here. ZH Comments Section needs more perspective. "Gold IS money" gets a little tedious. Of course so does, "everything will work out for the best."
Regarding PMs, I'm adding a post over on the HF YTD article, so I won't repeat here. Suffice it to say here, I think many of the PM hoarders haven't considered all the possibilities.
Just about everything that can be said has been said, so we are all just regurgitating. I might enjoy having Tyler allow a few folks to write competing pieces on different economic scenarios, then allow a vote to see where the majority---at least amongst ZH posters---stands. The range of articles and opinions would span everything from a Harry Wanger World to Mad Max, What do you think, Tyler?
Personally, I often wonder what the Mad Max crowd thinks about PMs in a Mad Max world. My guess is that in such a world, where necessities are in short supply, PMs would be about as valuable as Stevie Cohen's Willem de Kooning collection. With no disrespect intended, I can imagine some of the PM-Mad Max types preferring a metal detector, rather than a Thompson or an M1, when landing on Omaha Beach on D-Day. I doubt any rational person was looking for lost change from the Sunday bathers on that horrible day. Sometimes other things are far more valuable than a ton of gold.
Thanks Chindit. :)
You're one of the ZH classics. Lots of respect for you, fine Sir.
Not such a hot tip...80% of physical gold is privately owned, so the continuing lack of general public participation (still net sellers, is the point being made) does have a bearing on the gold price.
and why so rude?
Wrong side of the boat? You don't consider 1.5 quadrillion in CDS, derivative and OTC packaged debt that makes up almost the entirety of the banking sector balance sheet "over-leveraged"?
I am certain you didn't load up on physical PM's since Friday to take advantage of this (greatly appreciated) gift from our manipulative friends at the exchanges, but I am equally certain that a day will come when you wish that you did.
He did buy SLV yesterday though.
It doesn't really matter wich side of the boat you're on, when the paper it's made of starts to dissolve.
Guy-Please understand that all of MIDDLE AMERICA that buys and holds fits into this category.
They will lose all of their "savings" upon the great crash. Get it?
Guy-Please understand that all of MIDDLE AMERICA that buys and holds fits into this category.
They will lose all of their "savings" upon the great crash. Get it?
If it was just Greece I would agree.
The people in trouble control the printing presses. Therefore, they will print.
wasn't everyone just a couple of months ago calling for dow 14500? maybe that's the reason it didn't happen!
So to sum up your post, "Boring world we live in?"
And, as usual, very few agree with your analysis while most continue to feel you are completely full of shit.
And, as usual, I don't give a shit whether or not a bunch of doomer goons agree with me, or not.
I happen to know you're one of the self-proclaimed Turdites, so perhaps you could help me with something. Turd keeps deleting his bad calls, and he did it again yesterday night. When he updated his "White Out" article last night, he removed the chart in which he predicted earlier in the morning that silver would find a bottom near 22-23.
This is probably the fourth or fifth chart that he's deleted in the past 48 hours, and I was wondering if you find this embarrassing. You're a Turdite, after all...
No, your wrong. People here are not all "doomers". I hate to break it to you but nobody cares what you say because you have no credibility. Especially on PM's.
My advice is for you to quit posting this nonsense, and go work on your anger and insecurity issues.
Kind of on topic: Anybody hear any chatter about massive puts on the S&P, a la airline puts 9/01?
this trader rastani is telling people the truth about the markets! how dare he! must launch smear campaign and paint him as a rouge trader.
or bbc could bring him back. and rastani should replace shalom bernanke at the fed
ps. he looks like andy bichlbaum who duped bbc on the bhopal compensations. guess it's how the hoax rumors started
Who has read the Reuters blog?:
http://blogs.reuters.com/felix-salmon/2011/09/27/is-alessio-rastani-a-ye...
"and you don’t need to spend very much time hanging around the comments section (or even many of the posts) at Zero Hedge to discern a strong nihilistic and even anti-capitalist strain to much of the thinking in that community."
First they claim that there is no way that he could be a "Yes Men" and then conclude that he is both a member AND a trader! Oh, and apparently it is us (and not the markets) that are nihilist and we are all anti-capitalist here on ZH!
It looks like they are mistaking "anti-capitalist" for "anti-parasite" ... any why not? Every parasite chomps away at its host thinking life is good, until the host dies.
http://companycheck.co.uk/company/06208542
SANTORO PROJECTS LIMITEDEstablished 11/04/2007
Thanks for the belly laugh
"suck it" MSM.
TD - was the "suck it" a Tosh reference? Holy.. your pop culture references are unreal.
They are just following Goebbels' playbook of discredit the messenger, discredit the message. It usually works on the sheep. The informed tell them to go shit in their hat.
This guy may end up in the deep blue sea next to the body formerly known as Osama
Hmm, did Forbes try to go for the Axis of Evil connection since his last name is Rastani (could be a persian surname). And yes, I do think that the "discrediting" types would stoop lower than a pygmy limbo dancer to try and avoid the actual truth of the situation.
This is FREAKING BLOWING UP. Story on ABC radio! LMAO. The fact that this a "breaking news story" says it all. First time folks have heard such a thing
I learn something new every day.
Screwed 'n' Doomed Bitchez!
It happens on Dexter all the time.
Poor boy, probably booted already for loses :)))
Everyone loves a Henny Penny (Chicken Little).
The Forbes piece is here:
http://www.forbes.com/sites/emilylambert/2011/09/27/trader-or-prankster-we-called-alessio-rastani-and-asked/
@Steriod thanks for the link, but the Forbes questions were a bit scary...
FORBES: Where did you grow up?
FORBES: Do you work from an office or home?
FORBES: Where do you live?
FORBES: How old are you?
FORBES: What hours do you work?
FORBES: What do you do when you’re not trading?
He might want to go deep, deep under cover...
That guys speaking fee is going to be ridiculous in a few months...
He should saving all those clips of the MSM discounting him.
Mutatto ,
He is not saying one thing new, that has not been preached from the rooftops already.
Schiff,Paul, Celente,etc,etc.
At least in the US.
One small detail you're overlooking Zappy, this was on the Blair Broadcasting Corp.
His pantomimes (Rastani) were legit (IMO)...I don't think he was lying!! Maybe just someone who can't keep a secret...You do know that 'secret keeping' is hard on the psyche...
Is truth now a secret? Gotcha.
The only thing he did that bothered me was the looking left...But you need more than one to discredit yourself...It's a little more difficult to judge people on media...Looking left could have been due to looking at himself in a tv or computer moniter present...Aside from that...Rastani at first glance, as unbelievable in today's totally 'full of BS" news, looks like he's telling the truth or at least believes he is...
I don't think he had any intention of his comments catching fire like this. That's not to say he didn't know the comments would be controversial or overly bearish, I just think he had no idea he would take over Jim Rodgers and Marc Faber with one 3 minute video within 6 hours of it hitting youtube.
i he just started winging it, but he paused when he was going to say short the market, you could see his brain suddenly backtracking. he probably realized that if he came right out and told people to go short and the market tanked, then he would be toast
BTW
i sent the link to every one i know, and i think lots of other people did as well
Good news.....hes awesome...thanks for the truth...Bad News his short book is choking on so huge loses in the last two days.... sure he still has a few pounds in which to buy a pint
Yes MSM bad!
BBC press office good.
Talk about the biggest deflection piece since Clinton. "An independent Market Trader" and they have "no" evidence it was a hoax
Translated via google common sense: He has an etrade account and you can't prove we got fooled so nananananana!!!