Euro, Technocrats and Media Role in the Undoing of Italy

This is the fourth and final part of the article by Italian journalist Alessandra Nucci. Here are the first three parts:

The Looting of Italy

How the EU and the Left Ruined Italy

EU-Imposed Immigration Is Destroying Italy's Economy


Also read Italy Invented Banks by Enza Ferreri

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The Attack Begins In Earnest

2011 is when they began in earnest to train their guns on us, with the military aggression that started with the Nato attack on Libya culminating in half-truths calculated to stampede investors away from Italy in the direction of presumably safe bonds. And what bonds can be safer than Germany’s?

After the attack on Libya pulverized the country’s infrastructure, mainly built by Italy, as well as the many giant Italian industries that lined the coast, the banksters sprang into action. In July, Germany’s heavily-leveraged Deutsche Bank - which a month later was revealed to be one of the prime recipients of the U.S. Federal Reserve’s tremendous secret bailout, to the tune of $354 billion - dumped over 7 billion euros’ worth of Italian bonds onto the market in one swoop, loudly trumpeting this fact to the press and then just as dramatically buying up unnecessary swap options that bet on Italy’s going bust.

This of course signalled to all investors to follow suit, lest they remain saddled with bonds that might never be paid back! After which the panic inevitably spread to the shareholders’ market, driving the price of wealthy banks and huge joint-stock companies down to levels of craziness where one could buy a mega-multinational concern at the cost of maybe a single one of its properties.

Der Spiegel may have let the cat out of the bag when it wrote that documents in its possession showed that the reason Angela Merkel was holding out against the Euro-bonds - which would guarantee the debt of all the euro-zone countries - was that in exchange for relenting she planned to demand privileges for foreign buyers of choice property in Southern Europe.

This may or may not be. What is certain is that they have had this on their minds for a long time. In one sole day, in July 2011, Germany’s Deutsche Bank dumped billions of euros’ worth of perfectly good Italian sovereign bonds onto the market, trumpeting the move as the markets were still open – something that is NEVER done – and then dramatically buying swaps that would make a profit if Italy went bankrupt. By stampeding investors away from Italy they managed not only to distract the press from their own banks’ toxic assets, which they were busy dumping onto other countries’ debit accounts, but also to attract the money thereby freed up to – where else? Germany of course.

This kind of situation is a problem even in normal free markets. But in the euro-zone, where the spigot of money creation has been clamped off in the name of thrift (“austerity” they call it) - and, thanks to Maastricht and other assorted treaties, cannot be turned back on except by fiat of the European Central Bank in Frankfurt - it becomes a matter of mors tua vita mea. It’s like when you tilt a glass of water letting it all flow to one side, leaving the rest high and dry. If there is a fixed amount of money and it is all made to flow to one corner of the continent, the rest is left high and dry, with no way for people to exchange the fruits of their respective labour to procure the rest of the things they need to live. Money has no value in itself. The value lies in goods and manpower. But barter became impossible a long long time ago. Even in the bronze age there were products of human invention that needed some instrument to fraction their worth with respect to whatever needed interchange. Can a piano manufacturer barter his goods in exchange for his daily bread? Or must he grow his own produce if he wants to eat? Without money, markets are not free but paralyzed. Such is the situation of the captive countries of the euro-zone.

Hence, from July 2011 on, Germany’s vested interest in the collapse of other countries, and particularly of Italy’s rival economy, has been obvious to all who cared to see. Nevertheless, no-one could possibly have imagined that two months later, and a fortnight before the financial putsch in Italy, the Deutsche Bank would go so far as to secretly request the Troika [European Commission, European Central Bank and International Monetary Fund] to impose a “massive and profound decommissioning of the system of social welfare and of services to the public, to the tune of hundreds of billions of euros, for France, Italy, Spain, Greece, Portugal and Ireland” (the so-called “PIIGS” countries, plus France), according to a report which we only discovered the following year.

Unsurprisingly, the insultingly-named “PIIGS” countries are all non-Protestant. As attested in several editorials, since the euro no longer evokes wealth and stability but unemployment, poverty and decline, there has been a return of anti-Catholic prejudice in Northern Europe, where many consider the “PIIGS” countries to be doing badly because of Catholic sin. The whore of Babylon all over again.


Mario Monti's Government of Technocrats

Enter Mario Monti, the unelected Prime Minister, self-proclaimed Catholic and supposed conservative economics professor who went to visit the Pope eight times in little over a year while impoverishing the country and instigating the suicide of dozens of industrialists.

Under his watch billions were siphoned out of the economy, while the vast majority of Parliament remained inert, the conservatives mostly looking on in passive and silent dejection and the leftists simply waiting for election time to reinstall them in power. All of them, left and right, were as if traumatized at the display of power in what amounted to a coup d’etat by President Napolitano, and even more frightened at witnessing each other's silence. One MP, an ex-socialist friend of mine who had joined Berlusconi's centrist party Forza Italia, wrote a piece early on which ended saying that we were in the midst of a tragedy which risked changing forever the face of the country. When I called to compliment him for his perspicacity, he cut me short replying “Yes but nobody else is speaking up.” In a matter of weeks he had eaten his words and climbed aboard Mario Monti’s brand-new political party.

I think that a sequence of events of this kind – plus the court actions which have devastated and closed down one major industry after another on charges usually involving either environmental disaster, health hazards or corruption, increasing unemployment by the thousands - are probably what is routinely done to countries when there is a leftist takeover. I hold that they could purposely be using the power to legislate money away, isolate the country from investors so as to tear the system down for good and render the people powerless to recreate it. This is the only explanation I can find to the inexplicable way the technocrats have been sending money abroad as if there were no need for it at home: 5 million to Albania to buy equipment for doctors’ offices, 3 million to Bolivia to help protect its biodiversity, 1.3 billion to help Ethiopians guard against a new drought, 400,000 for a school for tour operators in Mozambique... it goes on and on.

Is it any wonder that Monti’s supposedly un-political, technocratic administration was actually made up of 99 % left-wing ministers? Why else would our ex(?)-communist President Giorgio Napolitano - whom The NYT enthused about dubbing him “King Giorgio” - install Monti in the Premier’s office the minute the stock markets’ plunge finally managed to dislodge the entrenched incumbent, overriding all constitution-mandated Parliamentary prerogative? The international press immediately recorded this unprecedented power grab as the virtual coup d’etat it was, but this soon became an embarrassing detail that it is impolite to even mention any more.

Because Italy's politics was purposely programmed by our post-war Constitution - largely dictated by the powerful Communist Party - to be unmanageable and incomprehensible, hardly anyone in the international press bothers to delve into anything that regards Italy. Journalists have us conveniently shelved under the categories of fashion, pizza, the mafia, the Leaning Tower and the Pope. Investors care only about what the herd will do next in order to follow suit and try and turn a profit on the stock exchange. As a result, no-one ever writes about Italy except if there is a sex scandal, a mafia crime, or talk of corruption. Or, today, if the press says that Italy is being bailed out.

All of the good things, the 95 percent of hard-working, honest Italians, who are not corrupt but actually the first victims of corruption, the mafia, etc, are invariably ignored.

Ironically, despite the country's having had as Prime Minister a media tycoon, Silvio Berlusconi, whose supposed expertise in manipulating media coverage might have served Italy in good stead, the international spotlight has remained firmly projected onto the unfavourable clichés and the sole unfavourable numbers of Italy’s external debt. Our erstwhile Premier’s ludicrous private lechery deservedly made him the butt of worldwide ridicule, and dragged Italy down with him. However, I can’t help remembering that Bill Clinton was President of the United States when his sex-capades in the White House were made public. Has this ever made a laughing stock of the entire American populace for having elected him? Hardly.

I believe that in this globalized world, relying solely on the mainstream media for news about other countries is a mistake that can prevent a needed comprehension of what is going on. Because, the globalist players being a tight-knit clique, the blueprint they follow can eventually come round to harass other countries in their turn.