Singapore Money Matters Rss

Featured Posts

Where would CPF money go if it is nominated to a bankrupt? When Madam Lim Lye Kiang sought to claim the $102,000 from CPF which her late sister had left her, she would never have expected that the CPF Board transferred the money to the OA (Official Assignee) to...

Read more

Why you should not buy IPOs As Sheng Siong is launching its IPO next month, I expected a few calls as whenever an IPO is launching. And if you are my client, you know my answer. I decide to write this article so everybody can benefit...

Read more

Questions to ask your Financial Adviser Every Sunday morning when I flip open the newspapers, I always see articles or advertisements regarding "Financial Advisers". Nowadays, just like the once prestigious word "Banker", which is misused in...

Read more

Revision to Nomination of Insurance Nominees Regulation With the onset of the Mental Capacity Act ("MCA") coming into effect on 1st March 2010, the Insurance (Nomination of Beneficiaries) Regulations 2009 ("the Regulations") will be amended to effect 2 changes: The...

Read more

The ABCs of the Financial Advisers Act The title, Financial Adviser, is always mis-used in the industry and misunderstood by the consumers. On 10 October 2002, the Financial Advisers Act came into effect and all financial institutions are...

Read more

“Goldman Sachs rules the world”?

Category : Market Commentary

Independent trader Alessio Rastani made his fame during the BBC interview earlier this week. What he said “shocked” those in the studio as well as the public. The anchor said the people around her “jaws collectively dropped”. He said:

“I don’t really care how governments are going to fix the economy; our job is to make money from it.”

“This is not a time right now for wishful thinking that governments are going to sort it out. Governments do not rule the world, Goldman Sachs rules the world.”

His comments raised a lot of controversy and I am not going to comment on that. However, I like the following comments from him:

“The depression on the 30s was not just about the market crash. There were some people who were prepared to make money out of the crash. And I think everybody can do that; It is not just for the people in the elite.. When the market crashes, you know what to do…”

The biggest risk people can take right now is not acting.”

You can watch the full interview below:

Related posts:

Post a comment