Home » Investor: “The Governments do not rule the world, Goldman Sachs rules the world”

Investor: “The Governments do not rule the world, Goldman Sachs rules the world”

by Alien UFO Sightings
0 comment

And this guy, along with other traders, have been dreaming of this severe economic crisis. It’s how they make money.

Here’s one thing he said:

Our job is to make money from it . . . Goldman Sachs rules the world . . . Personally, I’ve been dreaming of this moment for three years…I go to bed every night and I dream of another recession. When the market crashes… if you know what to do, if you have the right plan set up, you can make a lot of money from this.

Oh, he also said things are only going to get worse.
The now infamous claim from Alessio Rastani that “Goldman Sachs rule the world” may have been embellished to earn the ‘independent trader’ his 15 minutes of fame, but did the obnoxious interviewee raise any credible issues in his controversial economic assessment?

Independent trader Alessio Rastani caused a stir on BBC News on sunday with his claim that “Goldman Sachs rules the world, not governments”. Leaving aside the questionable credibility of someone who shares a job title with Del Boy (of Trotter’s Independent Traders – T.I.T. – fame) and Rastani’s obvious exaggerations in his bid for media celebrity as the bastard offspring of Gordon Gekko, is there any truth in his claim?

Well, Rastani is certainly correct in asserting that the major financial companies currently wield a lot of power. The financiers’ ability to make life difficult for governments and ordinary people by manipulating the global financial markets is perhaps unprecedented in world history, as illustrated by their ongoing malign influence over some Eurozone countries.

But this influence does not equate to Goldman Sachs ruling the world instead of governments. The most durable definition of what constitutes a state is the German theorist Max Weber’s explanation that it “has a monopoly on the use of legitimate force within a given territory”. In its most literal sense, this means governments have the tanks and guns and are the only ones entitled to use them. It also means, though, that governments set the rules by which every individual, organization and business in the society concerned must abide, including banks and financial institutions. If governments do not like something that Goldman Sachs and its ilk are doing, then they can legislate against it and enforce that law, right up to the point of prosecuting individual managers or forcing the errant company out of business. The primacy of government power is why the financial industry spends so much time and money on lobbying governments to make the decisions that suit them, and not vice-versa (as shown, for example, by the City’s strenuous recent efforts to influence the Vickers Report on banking reform and the UK government’s decisions on implementing it).

The primacy of government power is why the financial industry spends so much time and money on lobbying governments to make the decisions that suit them, and not vice-versa…

As well as having the sole right to set the legal framework within which financial institutions must operate, governments have the power to decide the economic system. Since the end of the Cold War in 1990, a particular form of globalised capitalism has become so dominant across the world that it appears to be the natural state of affairs. It is not; in fact, it is the product of government policy choices. A brief glance at history shows that very different economic systems can be adopted and even enduring ones such as the current version of capitalism can come and go. Radical changes to the economic structure are often produced by crises which demonstrate that the prevailing system has failed. An increasing number of influential voices are questioning whether the present financial crisis is one such moment. Astonishingly, for those of us who remember Michael Portillo in his previous incarnation as a right-wing Tory politician, it was argued this morning on his BBC Radio 4 programmer, “Capitalism on Trial”, that the present form of capitalism perverts true capitalism’s own driving principles by providing huge rewards to people (namely, those who work in the financial markets) who take almost no personal financial risks and produce nothing of economic value. By following different policies and making different laws, governments can change this. Goldman Sachs cannot.

And there is more. Apart from controlling the guns, making the laws and setting the economic policy, governments print the money and issue the bonds that the financial markets trade in. Clearly, tools such as control of the money supply and deciding what bonds to issue or pay out on have to be used with caution because of their effect on national economies. But, again, the point is that governments decide what to do with these tools, not the financial companies that merely rely on trading in the end-products for their existence.

Perhaps the final handful of soil on the coffin containing Rastani’s outlandish claim is provided by the recent history of the financial companies themselves. Who did they come running to for handouts and protection when Lehman Brothers collapsed and numerous others of them were at risk of going under? Yep, governments – the people who apparently no longer run the world but still exercise the power of life and death over them.

Nonetheless, despite his bumptiousness, Comical Alessio did raise some useful issues in his TV appearance. Apart from sparking the who runs the world debate, his exultations about his prospects for making money from a recession (was I the only one who expected him to whip out a book, snake-oil salesman style, “explaining” how to do this, available to the gullible by mail order for only £19.99?), highlighted how traders and financial firms are amoral entities, concerned only with their own financial gain. This one track mind is the financiers’ greatest source of power.  But this need not be a problem because it is also their greatest weakness, in that it makes them subservient to the existence of a legal and economic framework that allows them to prosper. And these would-be “masters of the universe” do not have the power to put that in place, governments do.

Do you believe in alien life and/or UFOs? Follow us on FACEBOOK, TWITTERINSTAGRAM! 

  • Bitcoin
  • Ethereum
  • Xrp
  • Bitcoin cash
  • Bitcoin sv
  • Litecoin
  • Tether
  • Binance coin
  • Tezos
  • Cardano
  • Dash
  • Monero
  • Stellar
  • Ethereum classic
Scan to Donate Bitcoin to bc1qplharv5kz9u04fazvfcwg55zpzx3hk2se7uj64

Donate Bitcoin to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Tag/Note:- Alien UFO Sightings
Scan to Donate Ethereum to 0x5C1fbd512386420156aBF7C38Fa80e402DE42e96

Donate Ethereum to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Ethereum

Tag/Note:- Alien UFO Sightings
Scan to Donate Xrp to r4dXn7DVK1V9AM99jqNdecZG5Mh4hXsnSk

Donate Xrp to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Xrp

Tag/Note:- Alien UFO Sightings
Scan to Donate Bitcoin cash to qrha85n6253vpcyew0yn9fgj38j6asgdkc0caed3cm

Donate Bitcoin cash to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Bitcoin cash

Tag/Note:- Alien UFO Sightings
Scan to Donate Bitcoin sv to 1LNrCdVkHwi2Xrf5br9YUF63ACW5uUg19R

Donate Bitcoin sv to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Bitcoin sv

Tag/Note:- Alien UFO Sightings
Scan to Donate Litecoin to LfVdNCJtm4qRLiQZkC2RXhJpCemaR83JvL

Donate Litecoin to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Litecoin

Tag/Note:- Alien UFO Sightings
Scan to Donate Tether to 0x5C1fbd512386420156aBF7C38Fa80e402DE42e96

Donate Tether to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Tether

Tag/Note:- Alien UFO Sightings
Scan to Donate Binance coin to bnb1qv88k2ln6wgsvh2k58uramg642j6zrhs864znz

Donate Binance coin to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Binance coin

Tag/Note:- Alien UFO Sightings
Scan to Donate Tezos to tz1bjRzegVEDPTNjXGPCrTDcpbWr44puKFgZ

Donate Tezos to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Tezos

Tag/Note:- Alien UFO Sightings
Scan to Donate Cardano to Ae2tdPwUPEZBpBkPdrULnszfNYCwocSH7maBFJHwpW3WeReVWE5rY9e4tkk

Donate Cardano to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Cardano

Tag/Note:- Alien UFO Sightings
Scan to Donate Dash to XgQjywvEGtAjpKTqNUwG7Yi2e6ZVebggqW

Donate Dash to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Dash

Tag/Note:- Alien UFO Sightings
Scan to Donate Monero to 46PbxkRRNFxXcW9S5T9BJm4xHDvwKUTqRT2Lcmc6JeVHYuZa6TT5NhPN7bMyxwLxaFazGYB1qyFbUGhVT9Ty8wfpMNCwuQD

Donate Monero to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Monero

Tag/Note:- Alien UFO Sightings
Scan to Donate Stellar to GAIENC3BCJQMFNWQSYWOUNYPWXWZHWY4XDLHRKO6VMCLFBVROZSVXBKB

Donate Stellar to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Stellar

Tag/Note:- Alien UFO Sightings
Scan to Donate Ethereum classic to 0x98257f4D233c42f2e0b30cECF0a8e4700D51CB51

Donate Ethereum classic to Alien UFO Sightings

Scan the QR code or copy the address below into your wallet to send some Ethereum classic

Tag/Note:- Alien UFO Sightings

CRYPTO CARD WITH UP TO 5% CASH 💰 BACK

PLUS, $50 FREE WHEN YOU STAKE 50 MCO COINS AND (DEPENDING ON THE CARD) FREE SPOTIFY, NETFLIX AND AMAZON PRIME EVERY MONTH!!

Join our list

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

You may also like

Leave a Reply

Investor: "The Governments do not rule the world, Goldman Sachs rules the world"

 
Share
%d bloggers like this: