Trader: Peoples savings will vanish within the next twelve months

[test123]

[Celeste]

I'm saddened by the number of people who vest even a semblance of trust into banking institutions, government, or some other action which you give your money to someone based on a promise or agreement to pay them back or for them to pay you back. Everything is up front with me. I have no credit cards. I have no loans. The worst I suffer is my paycheck being put on a pay card that I immediately withdraw and distribute to where that money needs to go. If I need to pay for an online subcription..I put some money on my debit card and do it that way. It's not always the most simple or convenient way of doing things, as I'd certainly benefit from the luxury of a credit card, meaning I could buy something now and pay later, but such is life.

Now, anybody who was stupid enough to trust their savings to a bank are going to get what is coming to them. If shit hits the fan, what are they gonna do about it? This world of ours fucking sucks and being apart of the system means you're gonna get fucked by the system. Dems is dah roolz.

[Senoska]

Despite this guy being a massive prick, I think he's right. I follow the markets pretty stringently. There has been a lot of chatter about a major crash in the next year or so. Investors have no option right now except treasury bonds. They're investing heavily in the dollar, however, China has been positioning itself with the recent purchase of massive stockpiles of gold, and has openly said that their goal is to make the Yuan a internationally traded currency.

This leaves investors, money, the USA, and other countries around the world in a very serious situation. The Euro is absolutely bound to fail. Greece is so fucked right now, no one knows what to do. If Greece fails (And it will. They're way in over their head.) other countries like Spain and Portugal are very likely to follow. Strong economies like Germany have exposure to these massive amounts of debt. There are two things that can come about from this. Either Germany pulls some serious shit and manages a huge powergrab in the region via the Euro, or the Euro evaporates and European economy dissipates. The economy, as he pointed out, is currently driven by fear for the majority of people. This isn't a good place to be in. For an economy to thrive, you have to be confident in your investment. The big money knows exactly what is going on, and they're just waiting for this to all come about.

With that being said, and assuming the predictions of this massive collapse that is being predicted comes about, and China announcing its intention, we can say that the USA is going to take a massive hit from this. The world economy is very much like a Chess game. Politics, money, and power drive this game. Every move is intentional, and has a lot of very smart people thinking about these things. The war of today is the war of currency and banking, and we're all very, very involved in this.

TL:DR: This guy is probably right.

edit: Here's a lecture that talks about what this guy is talking about


Another video that explains this:

He's also right about being ready for this. Don't take this lightly. This is something that is slowly becoming accepted among certain circles.

[wop]

it's good i keep mine under my bed then

[Acturus]

It's good I keep mine under Wop's bed, then.

[Viq]

It's good I keep mine under a bed in one of the few countries that are actually seeing economic growth these days.

[Uzor]

I can't do anything but laugh at the people that have for years jumped down my throat when I've said not joining the Euro is one of the smartest things Sweden have done.

[Lucienne]

I can't do anything but laugh at the people that have for years jumped down my throat when I've said not joining the Euro is one of the smartest things Sweden have done.

Still doesn't mean our economy isn't getting effected, but I'm not going to complain about the currency developments either.

[Shenrien]

I saw this coming a mile away, the Euro is a very weak form of currency that was suppose to make everything better in the UK and all it has done is provided the foundation for all of this, shit is going to end up like how it did in Germany after the war where a shopping cart full of money is going to barely cover a loaf of bread.

[Byrthnoth]

Wut? Someone advising expecting make money on a downward market is inspiring fear, conservative investing, and creating a downward market on BBC?

'kay.

[Guitarman]

He seemed pretty sure of himself. Wonder what scheme he had cooked up to turn a profit.

[Uzor]

Still doesn't mean our economy isn't getting effected, but I'm not going to complain about the currency developments either.

Of course we're going to get affected; we're dependent on export. We would get a lot more effected by it if we were dependent on people buying our stuff AND being part of the Euro, though.

The Euro was an idiotic idea when it was first suggested. The countries involved are too different. And why on earth they even let Greece in is beyond me. They include illegal activity such as prostitution and drug sale on their income sheets. Since Greece broke free from the Ottoman empire 182 years ago, they've spent half of the time in a state of default.

A lot of the countries involved has gone bankrupt several times. Spain has defaulted national debt 7 times since 1800 (13 times since 1500), Portugal 5 times since 1800, and greece 5 times. They have a long history of bad economy - which is getting repeated once again right now. Letting them join in the first place was stupid.

I can fully understand why the people of Germany are pissed off. Out of all the countries in Europe, their tax payers have lent the most money to Greece. Money that will essentially never be seen again come October when Greece is doomed to go bankrupt.

It's like they never learn. They tried it once in 1865 with the Latin monetary union which France, Italy, Belgium, Switzerland, Spain and Greece. That monetary union, too, failed. Why would it be different this time?

[Hyan]

I KNEW all of this sugar would come in handy!

[solanis]

WOW GUYS.

[Diamicles]

Peoples savings have vanished within the last twenty four months

fixed the title for you

[Laugana]

We've been talking about this a lot recently at work. The Daily Mail today said families in the UK would have to pay an extra £4600 per household to bail out nations in debt. Apparantly we're liable for 4.5% of IMF funding which equals £115billion. We've also already handed over £12.5billion in emergency loans to Greece, Ireland and Portugal to help prop up the Euro. I don't follow politics closely, but I'm damn glad we didn't give up the pound when everyone was going Euro. All we ever seem to do is give our money away.

[BaneTheBrawler]

The fact that so many people can't tell the difference between savings and investments may be a good indicator of why we're in this mess.

[Kuya]

Here's what digby has to say about that video:

But it's important to move past that and see Mr. Rastani for what he is: an honest man. People who go into the business of buying and selling stock have only one interest in mind: making money at the expense of other people. A stock broker or bond trader creates not one iota of real value to a company; she doesn't craft a single product with her hands nor yield a single creative insight with her mind. He doesn't help tailor a single product to a consumer's needs, save a single life, feed a hungry diner or teach a single child. A financial trader does one thing and one thing only: buy pieces of paper cheap off one sucker, and try to sell it dear to another sucker. It's a zero sum game: wherever there's a winner in the financial markets, there's an equal loser sitting on the other side of the trade. And no product or service of value created in the transaction beyond interest on an investment.

But of course, the greatest honesty in his rant is not about his love of profit from economic calamity, but rather his frank admission that the financial industry owns the world's governments lock, stock and barrel. Some would call that arrogance. I would call it a frank assessment of reality. Senator Durbin has already admitted as much for the American government; the only surprise is in hearing such candor from one of the Wall St. players on the inside.

So here's to Mr. Rastani. The last honest man on Wall St. Thanks for the insight: you've been helpful.

Now it's up to the American people to decide whether they're going to take it lying down, or if they're going to do something about it. I hear there's a little protest going on as we speak...

http://digbysblog.blogspot.com/2011/...-by-david.html

[archibaldcrane]

Kinda funny that the first article on finance.yahoo.com today is

Stocks Pop on Europe Hope; Dow Surges More Than 200 Points- Reuters

[Ksandra]

Euro market can't crash until I make millions off of selling purple drops to them in Diablo3.

But in reality, shit sucks. Feels like the whole world is collapsing except the few percent rich at the top.