VALERIO OF THE MONACO
ilribelle.com
At the moment in which we go to press, if not for some time, it should be clear to everyone - and certainly it is the readers of Rebel - measures taken - better, not taken - by governments, and particularly at European level groped for some way to overcome the state of crisis in which we started to get very
few years, are not suited to the situation. More, are at best inadequate, but more likely, completely counterproductive. Finance and Policy in the opposite direction - and conversely all of us who suffer and one or the other without being able to do anything - you are thrown headlong into creating the ultimate bubble can to try for a bit 'of time to keep up a scaffolding systems for mathematically collapse. Which means exactly the opposite of what people should do the driver. A long-time measures, though drastic, it is preferred to use small boats to maneuver. Most of these, however, on the shoulders of all citizens.
speak naturally bubble of debt which we mentioned last month.
All countries are in debt to banks and other countries who bought the securities. The rationale for government securities sold promising interest is the belief that in an unspecified later, there is so much economic growth can not only repay their debts, but also interest.
As it did, however, that in addition to enact policies that have a global, in practice, an act of faith, it will not work for two reasons, first the second mathematical logic. The logical part requires to be convinced that no one can grow indefinitely in a finite space. The mathematics that is not possible, in a clear guideline in descent, in a vague hope - and in fact is not stated at all - economic recovery in order not only to change direction towards a positive sign of growth, but also so much you can repay the debts and interest on debt.
Added to this is that, at the same time when we talk quietly now - ah, the new arrivals ... - A systemic crisis, that c
he do not, as logic would dictate, introduce legislation that can change the system, but continue undeterred to do neither more nor less than what you have always done and that led to the current collapse. You know - Serge Latouche writes - that drugs are the first supporters of the drug. But the fact is that this has consequences even for those from the "drug" would stay away.
course, this is worse, the system is sacrificed everything. The life and the future of persons currently living on earth and those who come after us. For the benefit, of course, the usual suspects.
The ECB itself lends to banks all the money required to make only 1% interest, this does not prevent him, however, to lend it to Greece to 6%. As it were, of course, please do it to the Banks, which lends money at very low costs, while the Greek citizens (and Europeans in general) try to suck all the succhiabile, either directly or indirectly.
To close the circle, for those who are still unconvinced of what is written, the fact that hope for an economic recovery when the private economy are in deep crisis (cuts in salaries, services, unemployment, social crisis) which took us through the system, and thanks to the cuts that "Europe" requires several States to get out of the debt crisis that the system itself creates, is a little 'how can we hope that you come from Rome to Milan by car, when the cruising speed set, and the tank is running out, and distributors are closed or not sell a single gallon of gasoline because we have not physically the money to buy it.
An act of faith, indeed, more suitable for a pilgrimage to a policy guideline.
The measures to be taken but would be different and drastic, and would impose a reversal of the financial system, industrial and capitalist who runs the world (of these measures will speak next month). Needless to hope, however, that the thing can be maintained precisely by those dracula financial, industrial and capitalist are doing that right now, even in times of crisis, feasting on a sumptuous meal on the lives of European peoples.
choices, in short, short, should be political. Or, even earlier, metapolitical. That would be nice to decide which way to go and just that the world, and consequently taking political decisions, however unpopular, in order to direct all in this way. For example, one thing above all, relegating the economy to the role that should have, and certainly not the central and supreme, and that has now led to the current state of affairs.
individual countries, in theory (we will be back soon) may be very little. Admitted and granted that wish and are able to do so. Europe should think, with regard to our continent. But Europe is not, well, there never was. Also arguing (and we, contrary to Ciampi, Dragons, Prodi & Co., as well as all political leaders today, I do not support) that there must be a single currency, the point is that the currency without a common economic and even more, without an overall policy for a large area such as Europe, or the current condition, there never was nor, on this basis, there will be, is useless.
The most that we managed to do in Europe when it was hung on the ECB, which requires, in addition to the outrageous bank seigniorage (and thus the attack on the monetary sovereignty of states) of the restrictive economic policies at different States that she herself (and the Banks and Finance) has contributed to borrow.
Brief aside: it is ridiculous and demeaning just make some reference to the sorry state of politics in our wretched country - to do enough to read, om
he jumps at the bottom of the first half of the Italian newspapers - to understand that no European State least of our work where "political" the likes of Berlusconi, Alfano, D'Alema & Co. (who are preparing for the well-deserved vacation in August, while the world falls down) are able to take any kind of decision that can really be called politics. The point is in fact clear: Member States - all - are burdened with debts (some more than others) and the banks are full of titles that will not be - for logic and mathematics, as we said before - honored. All are indebted to all with no hope of being able to get anything back. Well, almost.
Also, and most importantly, the citizens of all states (now Greece, Spain and Portugal, Italy and tomorrow day after all the others to follow) are suffering and will suffer more and a greater drain on the economic crisis and the measures imposed.
In terms of economic (and social) in short, we are heading towards catastrophe.
All to save the system and to save the Euro. Totem evil that has been imposed and that it is placed as the last bulwark to keep up. If only to keep it up we're wasting our lives in slavery and that of our children and our grandchildren.
A way out there: the repudiation of debt. The exit from the Euro.
very simple technique. Ethically sacrosanct, given what he has done wrong up to now and we will do. And indeed, even desirable, despite what it implies, when the task compares the crash to which we are still going to meet. The bankruptcies are sovereign in any event around the corner. It is inevitable.
The first country to put away the debt will checkmate the "Lords of the world" that, in fact, depend not merely on the goodwill of those who continue to pay the debts. We owe us at the moment, to have the knife on the side of the neck, if only we had the desire and ability to use it against those who attack our lives for decades.
The trick of course, that's what it is, in fact, standing alone until there is someone who however continues to pay interest (and suffer cuts to their lives). The moment we say enough, with the remaining creditors holding the bag. All the "active" hours that mark on their books, or credit that must require from us, would be to hit the "passive" irrecoverable. Taken from "criminals" with those "criminals" who sucked up to now we have lives.
Sure, it does in any case very hard times for the people. Imagine a Greek who decided to repudiate the debt and leave the Euro. Banks would fail, the nationalization of the financial and economic system (and the ECB would take it in that place), the money will revert to the State or of its own, and start all over again. The new drachma would be greatly devalued. Without painful for the Greek population, but only temporarily. Because the new currency - its currency, and not the ECB and its owner, or by individuals - would be competitive soon. Sacrifices and loss of monetary wealth impressive at first. But with a future ahead. But now that future is not there.
And if it were to be extended? Would in practice be a world war of creditors against debtors. But one of two things, the governments of various countries will have to choose soon, however, repudiate the debts and get out of the Euro or bleed their populations to pay off their debts. Brutally choose to have the interests of the Banks or those of peoples. Probably will those of Ban
that as long as possible. Since then, however, the divorce will be inevitable. I recall, those who turn up their nose in front of so drastic a solution, there are precedents rather than authoritative. And incidentally, comes precisely from those who may seem unexpected. The repudiation of the debt has a very old tradition in the United States own. In the decade of 1840, Maryland, Pennsylvania, Illinois, Indiana, Michigan, Arkansas, Louisiana and Florida totally and permanently repudiated their debt, after the panic of 1837 and 1839 created a boom infazionistico the Second Bank of the United States.
Especially for those countries that have a debt held by foreigners, then, would be a real bargain: from one day to another, the bill would be precisely those who created the crisis, or those who hold public debts. It certainly would not be the citizens who pay the highest price. Faced with an inevitable crash, then, after a needless drain of their own lives, is it not more logical, and no less utopian, repudiate the debt with all that it entails, but with hope of salvation?
course: no one will until it is forced. And this is evil. Why make that decision when there will be up against the wall and immediately after years of cuts and drainage schemes - something inevitable in any case - it will be much, much worse than doing it now, where there is some degree of success.
However, even making sacrifices (though for a rebirth) would not be bad, reject it all, and let you gentlemen with lots of bills with which they could only wipe his tears, or not?
Valerio Lo Monaco
www.ilribelle.com
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