Speaking to the British Broadcasting Corporation (BBC) this morning, independent stock trader Alessio Rastani predicted that a European market crash is imminent and many investors know it.
"This problem cannot be solved," he said. "I'm fairly confident that the Euro is going to crash, and it's going to fall pretty hard."
Rastani added: "Personally, I've been dreaming of this moment for three years. I have a confession, which is, I go to bed every night and I dream of another recession. I dream of another moment like this. Why? Because people don't seem to really remember. The depression in the 30′s wasn't just about a market crash. There were some people who were prepared to make money from that crash. I think anybody can do that."
"What I would say to everybody is, get prepared. It's not the time right now to, wishfully thinking the government's going to sort things out. The governments don't rule the world. Goldman Sachs rules the world. Goldman Sachs does not care about this rescue package, neither does the big funds."
"In less than 12 months, my prediction is, the savings of millions of people is going to vanish. And this is just the beginning."
This video is from the BBC, broadcast Monday, Sept. 26, 2011.
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Reader Comments
but the US dollar as a safe asset? He's blowing smoke right there.
For trading purposes of course, which is 3-4 days settlement period before the trade clears the account and you can take it out if you wish... otherwise, they usually let you trade against the expected returns... Gotta keep the game going don't you know.
For a trader, the word 'safe' is fleeting as all the world's fiat monies are facing the same problem, witness the recent PM enforced crash so the big boys can reset their short sales positions: [Link]
Reminds me of the 'safety' after the initial crash of the market in '29 when the Bank of Morgan stepped to 'help out'... as in help themselves by selling and repositioning for their exit which would send a strong sell signal to everyone.
Next biggie on the long horizon is that 'bank holiday', remember that effect on the system?
i'm preparing.. i'm going to go pull all my money out of the bank. So $21.30 plus $5 minus $500 visa card and $500,000 mortgage....dammit that leaves me with -$500,473.70. does that mean i'm safe?