The Looting of Italy

This is an article that was written and sent to me by Alessandra Nucci, an Italian journalist and friend. It describes what the European Union has done to Italy. Since it's a very long article, I've broken it down in 4 parts. Here is the first part.

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How would you feel if for years you had been picking up shipwrecked penniless migrants from Africa, dumped by criminal agents all over the Mediterranean, ferrying them to your shores and taking them in by the thousands, only to see yourself made the butt of sarcasm, reproaches and even pecuniary fines for not doing enough?

How would you feel if the EU, to which you have contributed and continue to contribute billions, were to ignore your pleas for help, and yours alone?

How would you feel if you were to help debtors out to the tune of billions of euros, then were to find yourself painted in the media as being a spendthrift recipient of bailouts?

How would you feel if in order to bail other countries out, you had to borrow money yourself, at double the interest, ruining your own credit rating while praise is heaped on the borrower countries for their newly shining performance?

These are just a few examples of what has been happening in the last several years to Italy.

At the end of June 2012, and then again at the beginning of July, the headlines in the international press carried news of the “bailout of Spain and Italy”, placing the two on the same level. Yet it was Spain that was being bailed out while Italy is the third most generous contributor to the funding.

This is just the latest blow to the reputation of the euro-zone’s third-largest economy (and the world’s eighth largest), dealt like all the others in a seemingly innocent manner by an international press which is either superficial or conniving in what amounts to the looting of Italy.

By looting I mean the process of cheapening the country, its name and its worth by means of discredit nonchalantly but relentlessly sown in every possible way and direction, from within and without, to drive the value of its assets down and make them more … affordable. This has quietly been going on since 1992, but was stepped up with a double-barrelled aggression, on a military and financial level, in 2011.


The Philosophical Divide

The world, and the stock markets, are being told today that the countries insultingly referred to with the acronym "PIIGS" are a bunch of lazy, irresponsible spendthrifts who, after piling debt upon debt, are now squandering other people's hard-earned money. Therefore they deserve whatever degree of impoverishment they may get. Well, the truth is mostly the exact opposite. The financial élite gathered around the EU buildings in Brussels have been quietly at work undermining the economies of Southern Europe, out of the need to save their own.

I don’t think it is a coincidence that the “PIIGS” countries (Portugal, Italy, Ireland, Greece, Spain) all have a historically Catholic or Christian Orthodox background, which the common assumptions underlying the culture have maintained as a basic frame of reference, even if the number of liturgically-practicing faithful is at a minimum. On the other hand, the countries that are aggressively posing as having been economically wise and virtuous (Germany, France, Belgium) are leaders on the road to the predominance of a secular culture.

In Italy’s case, we are clearly a big disappointment to the EU secularists. Once the showcase land of successful inroads against Catholic norms (our 1978 law provides abortion free of charge to all, within the first three months of pregnancy, for whatever reasons of health, including the prospective mother’s psychological duress), Italy now identifies with a firm and widespread resistance against the pressure of gay lobbies and pro-euthanasia activism (described in my piece “The Struggle For Italy’s Soul”).

The last straw, to the pagans in Brussels, was probably the march in Rome organized by the Forum of Families in 2007, which mobilized over a million people in defence of heterosexual marriage. Oh, yes, and also the sensational defence of the Crucifix upheld by Italians of all stripes, including agnostics and even a few atheists, against a decision by the Court in Strasbourg in 2006 to prohibit its being exhibited on classroom and courtroom walls. Italy appealed the decision and won, but the occult powers that inhabit the EU-governing bodies have dug in their heels and clearly intend to make us pay for it. Their objective? Nothing less than physically taking over the country, thereby finishing the job that had been started in the mid-nineteenth century.

The irony of this all is that Italian citizens find themselves being told they must look up to those who have cleverly installed themselves in power, and be grateful to those who are actually ruining the economy under the guise of fixing it. Like the Masonic élite who took power in the nineteenth century, they are impoverishing us while declaring themselves Catholic, and then coming, like the elders to Job, to lecture and teach us our lessons.


Before Prime Minister Mario Monti

Until ex EU commissioner Mario Monti was sent in to help, Italy was doing better than all of the other EU countries, bar only Germany. We had a higher surplus than France, a higher surplus than the UK, and only a slightly lower surplus than Germany. Our banks had almost none of the toxic assets that glutted the banks of France and above all of Germany. Our unemployment was manageable. Our companies and trade marks were and still are so successful that they are constantly being bought up by foreign companies.

All this was despite the vast amounts of money that Italy shelled out to line the coffers of the European Union. According to the official data released by the EU Commission, the balance of payments from Italy surpass incoming funds by 25 billion. By Italian official accounts the real amount is 40 billion.

Yes, we did have a huge public debt, but the private debt was almost non-existent, which, together with the solid economy, guaranteed that the bonds would be paid back. In other words, our debt, like Japan’s even bigger one, was manageable.

Some figures? Italy’s GDP in 2010 was $2.1 trillion. We were the 8th exporters in the world ($448 billion foreign exports), and the 6th preferred nation for investors (source: World Bank). Unemployment was at a manageable 8.3%, which was lower than the euro-zone average of 10.2% and also lower than the US's 9.1 % - and that is despite our very high population density.

Without the interest on our national debt, we would have been way past France and Germany. The prospects for 2012 were that France would have a deficit of 2.4% of its GDP while Italy was predicted to have a 2% surplus, which was to be even greater than Germany's, forecast at 1.4%.

The debt was bringing us down, of course, but the real debt parade, which must include private debts, has the United Kingdom in n.1 position. The international media, however, take care not to point that out, as they considerately avoided making a fuss when then Prime Minister Gordon Brown turned the UK into the first European country to nationalize a bank (Northern Rock) to prevent it from failing, in 2008.

So, well, Italy had it fairly good. Russia guaranteed the flow of oil from the North, and Libya guaranteed it from south of the Mediterranean. Most importantly, a costly treaty with Libya had finally put a stop to the flow of illegal immigration that had been overwhelming the country, weighing down on the economy (and the debt) and almost literally crowding out Italians themselves, thanks to Leftist quotas discriminating against Italians.

Why am I writing all this in the past tense? Because this was the situation before Nato’s 2010 attack on Libya, pretending Gaddafi was killing his own people, and before 2011 when ex EU commissioner Mario Monti was sent in to help. Mr Monti’s CV reads like a page out of a book on conspiracy theories. He is a past official advisor to Goldman Sachs and to Moody’s, president of the Trilateral Commission for Europe and a member of the Bilderberger clique. Since his sudden appearance on the scene in mid-November 2011, not elected but appointed single-mindedly by our ex(?)-communist President Giorgio Napolitano to head the Italian government, Italy’s sole negative economic index, the public debt, rather than diminishing has soared. At the end of 2011 it was 1897.9 billion euros, four months later it was 1948.5 billion: a 50 billion increase in a matter of 120 days. And we are now officially in a recession, whose beginning is vaguely being retro-dated to precede November’s unacknowledged coup d’état.


Read the second, third and fourth parts of "The Looting of Italy":

How the EU and the Left Ruined Italy

EU-Imposed Immigration Is Destroying Italy's Economy

Euro, Technocrats and Media Role in the Undoing of Italy