By Max Clarke

Every night I go to bed, I dream of another recession.”

So stark and shocking were City Trader Alessio Rastani’s comments that it left the BBC’s newsroom speechless, prompting many to presume the man was a hoaxer; possibly another appearance of the infamous ‘Yes Men’.

However, the BBC’s Business Editor Robert Peston, confirmed today via Twitter that, as far as they could tell, Rastani was who he said he was and his views genuine:

We spoke to the trader again this morning, & as far as we can tell he is a genuine independent trader, not a member of YesMen

But Rastani’s comments, be they genuine or hoax, raise a sobering point: as governments prepare to plug the eurozone’s sinking economies with up to €3 trillion of taxpayers' money, Rastani suggests that the move is doomed to fail and that governments are powerless to the whims of what he termed ‘smart money’- the big banks and private hedge funds.

Or as the shiny tie wearing trader famously put it: “Governments don’t rule the world, Goldman Sachs rules the world.”

This in effect means that no matter how much of our money our democratically elected governments throw around, the world’s leading hedge funds and investment banks will not be assured, and will instead divert their much needed money to more stable, lower yielding investments like 30-year bonds.

The eurozone market, argues Rastani, will likely crash and the less money we throw at it vainly hoping for it to recover, the better. We should instead prepare, not relying on government to save us, but by being prudent with out own money.


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