I’ve just been watching an excellent video clip of Alessio Rastani’s startling appearance on the BBC including the comment “Goldman Sachs rule the world, politicians don’t”. You can watch the clip, and see comments from BBC experts by following the link at the end of this blog.
My own view is he was telling the truth pure and simple. The traders simply do not care about the general population – they just want to make money. As Alessio Rastani points out, it is possible to make lots of money in a recession and/or crash. Greece is likely to default and the billions poured into it will be lost. Savers may well have protection schemes like here in the UK but the collapse of the Euro will impact on the value of Sterling which, I believe, will lead to what is, in effect, a devalution. Imports will cost more so prices of foods, fuel and goods will rise. Even if your £85k is guaranteed, its purchasing power will, in all likelihood, be less. Its interesting that the BBC experts don’t totally disagree with Alessio Rastani with the execption of the impact of a crash on saving..but they don’t mention the effects of a currency crisis.
My opinion is Alessio Rastani is correct in his predictions and we are going to see a frightful few years. Most of us will never recoup the financial losses which I believe are coming.