How they want us to be smothered by the Ministry of Education and to be happy (so to speak)

Having a ruling class working against your country can be a big problem, but unfortunately, that’s the way things are now. Giuseppe Littori He explains very well what is happening and how, for the thousandth time, they are besieging Italy.

As we know, between PEPP and other purchase transactions, the European Central Bank owns 679 billion of Italian public debt, equivalent to 29%. Now this debt is periodically replenished and generates interest which is directed to the Bank of Italy, which then redistributes it, to a large extent, to the treasury, that is, to the body that pays the interest. Then this turns into a round.

However, this situation is not tolerated by two parties:

• To the Germans, who consider this to be nothing more than a subtle way to finance the lazy and soft Mediterranean,
• For that slice of Italian bureaucracy and bad power that believes that our country’s life is not tough and tough enough.

So at the Italian-French summit, the two governments put forward a wonderful proposal written by Draghi’s economic advisor, Francesco GavazziIn cooperation with economists Guerrieri and Lorenzoni, which obviously does not work for Italy, but for the king of Prussia: sell 679 billion Italian public debts to the ESM in 10 installments, and exchange them for ESM securities, which should be cheaper. Then the ESM pledges to roll over the securities and reinvest the proceeds, all in return for a commitment: reduce the national debt in 10 years within the Maastricht legends, or at least try. To put it in a movie phrase: “Reduce debt, or die trying.”

It seems unbelievable, that we were the ones who made such an unbalanced and absurd proposal. The name Giavazzi and the other two economists should remain well imprinted in your mind, because you must really hate the Italians for making such a suggestion.

All this for what? To remove this 29% of the debt/GDP ratio to be calculated for the purpose of 60% of the Maastricht criteria debt. As if deleting the remaining 40% – 45% within ten years wasn’t really a ridiculous and unattainable goal in and of itself.

Let’s see the negative effects of this suggestion:

1. First of all, the ECB is not the ESM. The sale would be equivalent to closing off bank credit by borrowing from a shark. The European Stability Mechanism specifically prides itself on its ability to impose stricter obligations on states, as we have seen in the Greek case. Giavazzi’s proposal puts us on the road to Greece.
2. Therefore, the interest income will not return to the treasury mostly, through the profits of the Bank of Italy, but will be in the hands of the EMG and will constitute its financing. Practically speaking, our meager reserves will finance the environmental management mechanism;
3. However, the European Stability Mechanism does not have the resources for this maneuver and must invoke state guarantees, of which 114 billion are Italian guarantees. We used to pay back our debts.. with our debts. Expensive round game.

So the vaunted Italian-French proposal for Maastricht bonds is… to obey the bonds themselves, while harming the nation’s placement in the hands of an outside entity that prides itself on its solidity in debt-collecting. If I tell you I’m angry, I’m using a euphemism. If Italy’s ruling class and its bureaucracy play against the Italians, we will have absolutely no escape. Don’t be surprised if demographics go to zero and pessimism rises exponentially. Extinction is the best way now, but I hope they do that first.

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