September 27, 2011


UPDATE: Apparently, this is a hoax perpetrated by the Yes Men. Below is taken from thier wikipedia entry.

The Yes Men often deploy a satirical approach: they pose as a powerful entity (typically a corporate or government representative or executive) and make ridiculous and shocking comments that caricature the ideological position of the organisation or person. Furthermore, they acknowledge the idea that many corporate or government entities manipulate their ideology using spin; in response, the Yes Men use this power of spin to their own advantage, and use media outlets to disseminate their personal interpretation of the situation. A sense of humor and shock value is usually employed to make these issues more palatable to the general public and to call greater media attention to stories of interest.[1] Some of these outrageous ideas include the possibility to sell one's vote or that the poor should consume recycled human waste. On most occasions, little to no shock or outrage is publicly evoked in response to their prank.

On occasion, the Yes Men's phony spokesperson will make announcements that represent fictitious scenarios for the anti-globalization movement or opponents of corporate crime.


Trader Tells BBC That Greek Default is a Done Deal; Will Anyone Listen?

As of Tuesday morning this clip has been viewed nearly half a million times on YouTube. There’s been a lot of noise in the press and the blogosphere that Rastani was either pulling a prank or is the ultimate Chicken Little. His talk of Goldman Sachs (GS) ruling the world and “dreaming of a recession” makes it easy to take pot shots at him, but can anyone refute his core point?

The markets right now are ruled by fear. The big money and the smart money — I’m talking about the big funds, the hedge funds, the institutions — they don’t buy this rescue plan. They know the market is toast. They know the stock market is finished. As far as the euro is concerned they don’t care. They’re moving their money away to safer assets.

That’s exactly what has been going on. You can dispute everything else he says, but not this. While Rastani sees a crash as a money-making opportunity, it is also very clear he wants to warn people.

This economic crisis is like a cancer, if you just wait and wait hoping it is going to go away, just like a cancer it is going to grow and it will be too late!