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17 – Italy in bankruptcy

1 December, 2011

Italy is on the verge of Bankruptcy


It was exactly a year ago when I left Italy. If everything goes according the plan, I will be back on January 25th and there are good chances I will come back in country who has just declared, or it is ready to declare, his bankruptcy.

Nobody can kid himself anymore: if even Germany, the European country who benefit the most since Euro was introduced, is quickly preparing to come back to his old currency, there is no doubt Euro is collapsing. And rightly so, because it is a currency created and managed by a group of bankers whose only interest is their profit, often at the cost of the same countries who has adopted it.

And nobody can kid himself in Italy because Berlusconi resigned and now we have a government of estimated technocrats and we can hope things will turn over, because this estimated technocrats are the real directors of this economical crisis and they are the ones who will give us the last shot.

I always been diffident of anti-berlusconians more than berlusconians, because while I was certain Berlusconi as a Prime Minister was a disgrace for my country, the only reason why he lasted so long, almost twenty years, it was to distract the commons, give them someone to hate, and while we were obsessing with his sexual affairs, the real rulers were carrying on with their hegemonic plan.

No, I have not blindly embraced any conspiracy theory, that are so trendy in cyberspace but that are also a brilliant way the system use to ostracize anyone brave enough to think with his own mind and does not accept social injustice in the name of economic speculation. I spent the last days devouring text, books, blog, documents, trying to understand what’s happening and what I can personally do.

My anger increased by admit I am still ignorant and I feel powerless. But if only one of my five reader learn something (I think for instance to my sister, who few days ago asked me what I think of the new Prime Minister Mario Monti), then this article was worth.

I sum up what I have understood:

-There is only one real crisis: the one of banks and finance. But are citizens who are paying the price, while this élite of bankers is getting sickening rich and richer.
-Public deficit is the wealthy of workers, not their debt.
-Public deficit and inflation, who everyone believe as a sign of weak economy, instead are the instruments for the developing of a social and equal state. In technical terms this is called “Modern money theory”.
-On the contrary, all the austerity measures, the cut of social spending, taxes (whose real function is to destroy money to avoid excesses of inflation, not to finance public services), are just the instruments that speculators use to generate giant profits, while damaging life of millions of people.
-Unless the ECB change immediately his status and start printing European bonds to finance the public debt of every country in the Euro area, we must come back to our old currency, because Euro is not a sovereign currency and all countries who has adopted, now are just slaves of private fundings who care only of their profit.
-We should be not afraid to declare default. What happened in Argentina in 2001, that everyone use as a warning is clear: the country recovered in a couple of years and now, thanks to his social and economical politics, it is one of the fastest growing countries in the world.
-These are not conspiracy theories: there are lots of documented and incontestable proves

So, what can we do? Anyone in his own field and capacities has to do something. My duty as a journalist and citizen is to research and tell people. I urge everyone to look at the sources I am quoting and don’t fall in useless clan fights: Paolo Barnard and Claudio Messora has two different ways of communicate, but they are trying to bringing the same message. No one is carrying the absolute truth, everyone can give to it.

20% of riches own 80% of world money

Sources

Understanding Modern Monetary system

Italian sources

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One Comment
  1. The picture clearly shows that Paredo is right once again: 20% of the people own the 80% of the richness.
    I understand that a default is a bad situation for the citizens that will see their money evaporate (government bonds for example).

    I guess my duty as an IT network consultant is to stop working.

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