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A Draghi government would be the final selloff of Italy
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by Cesare Sacchetti
Apparently, a quite generic article on the Financial Times by Mario Draghi, who doesn’t make any real definitive proposal to solve the eurozone issues, was enough to delete the entire biography of this man.
Several people, some in good faith others not, believe that Draghi in this moment could be the best man to lead Italy out of the coronavirus crisis.
Some of these people believe that Draghi, all of a sudden, would have converted himself on the way to Damascus and that he would become the next Italian PM to ensure the best interests of Italy while until yesterday he has ensured the best interests of the globalist élite and international financiers.
But what does exactly Draghi say in his article in order to evoke such hope?
In his op-ed, basically the former Ecb president came to a conclusion.
It is necessary to expand the national public debts of the eurozone states to tackle this coronavirus crisis.
Certainly it is a proposal of good sense to enforce countercyclical policies to aid private businesses and families.
What he hasn’t mentioned are the consequences of such an action, considering the structure of the eurozone.
In an ideal monetary union, there should be a single public debt for all of its members.
The eurozone was built by contradicting this basic principle. Every member state has kept his public debt and this led to the spread issue.
The spread is indeed the difference between the interests rates of Germany’s public debt and the ones of the other eurozone members.
Had the architects of the euro followed the basic rules of a monetary union, the spread and all the market turmoils would have never existed.
But probably this wasn’t the result of a mistake. The EU élites wanted to insert this malfunction in the euro as a way to “discipline” and blackmail the Southern Europe countries, especially Italy, had they chosen to enact different economic policies.
The euro is a currency conceived to guarantee the profits of the German and Dutch mercantilistic élites, which both took advantage of an artificially debased currency.
As a result, having the eurozone member states been deprived of the faculty to devalue their currency, the whole burden of the competitiveness of a country falls on the shoulders of the working class.
The Northern European bloc has no intention to change this status quo because they would lose their competitive advantage.
The only way to stabilize this trembling structure would be to create a central bank as a lender of last resort.
The ECB is a macroeconomic anomaly because neither finances the deficit of the member states nor buys indefinitely their bonds.
In other words, Draghi’s plan could be possible only by creating the eurobonds, something which the Anseatic League, another way to define the Northern European alliance, still firmly rejects.
Therefore is the euro deemed to collapse by itself? Not exactly. Mario Monti, the former Italian prime minister, in a recent interview has suggested what Draghi could do to appease Germany and the Netherlands.
“In the optics of an European agreement, it would be necessary that Italy give further proof of its own fiscal health by implementing further measures against tax evasion – not with general tax increases, but with the ability to hit where it is more needed, where there is more wealth, asking in exchange of this to Germany and the Netherlands not only the support for the Eurobonds.”
Here’s the deal. Italy should implement a patrimonial tax, or possibly the ESM approval, in order to convince the European hawks to reform the Ecb and issue the Eurobonds.
In these conditions, a patrimonial tax in a country already heavily weakened by years of economic stagnation and austerity, would be the final blow for Italy.
Italy would likely follow the same path of Greece did in 2013-2014.
But Mario Draghi is not a newbie in dealing with this kind of situations.
In 1992, when he was the general director of the Italian Treasury, he practically sold off to the Anglo-Saxon finance speculators the Italian public industry.
The family silver of Italy which allowed the country to turn into the fourth largest economy of the world, was gifted to international banks as Goldman Sachs, on board the Britannia, the royal British yacht.
Mario Draghi was there and was one of the main hosts of the event in which Italy was sacked of its industrial treasure.
Francesco Cossiga, the former Italian president, clearly explained what could happen if Mario Draghi would become the next Italian PM in this interview below.
Cossiga had predicted the complete industrial demise of Italy should Draghi become prime minister.
It is certainly useful to remember his words because apparently several people in these days have been affected by an unusual amnesia.
Therefore, it is complete nonsense to think that the man who made the best interests of the globalist elites, now would come to serve the interests of the Italian people.
If Mario Monti, the former Italian premier who devastated the Italian economy in 2011-12, defines Draghi as an excellent choice to succeed Conte, a red alarm in the patriot community should ring.
Draghi would become premier to finish the dismantling of Italy that started in 1992.
His mission will be to save the euro and the EU with the blood of the Italian people, as he did in 2013 when he pronounced the infamous words “whatever it takes” which were paid instead with the blood of the Greek people.
However, today’s politicians, worst political class which Italy has ever had, don’t seem to be worried by this dramatic perspective.
They seem all more than ready to roll the red carpet out to the next commissioner liquidator of Italy.
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