In an astonishing moment of honesty, a Wall St trader told the BBC during an interview about the EuroZone rescue pakcage that he actually ‘dreams about another recession’. Stating that it was not his job to care about the economy, Alessio Rastani warned of another giant recession and declared that governments around the world were powerless to do anything about it. “Governments don’t rule the world,” he said. “Goldman Sachs rules the world. Goldman Sachs does not care about this big rescue package.” Watch below:
I often argue with my pro market friends that I could respect their views if they were honest about their motivations. Believing that deregulated markets and raw capitalism is good for everyone is simply a religion – it is not supported by any facts, and can be disproved in a matter of seconds. I’d have a lot more time for libertarians if they were honest like Rastani. Capitalism benefits those with capital and those who understand its power and take advantage of its cyclical nature (traders/speculators etc). It is a system rigged to distribute resources unevenly. Crashes are great for the rich and great for traders – they can ride out the storm, buy up cheap assets and consolidate power. Unfortunately, crashes are awful for the majority of the population, indicating that capitalism in its current form is a terrible system to live under.
Rastani urged viewers to prepare to benefit from the crash – honest advice from a corrupt person who knows how evil up the international monetary system is. Rastani has given up the fight. We can’t.
This system has got to stop.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.