E 'news these days about the discovery of a clandestine printing of money in Caserta, have spoken more or less ( Republic , Courier, etc.) with the usual tone negative and tipping the scales even in saying that it is the consumer who loses. It's actually the opposite, and who really steals the Italian consumer and the bank that issues the money, formerly the Bank of Italy is now the European Central Bank. To understand what is necessary to explain how it works the current monetary system starting from a description of the European Central Bank (ECB that from now on), who he is and what it does.
The ECB is a Private Bank responsible for implementing monetary policy for the sixteen EU countries which joined the euro and which form the so-called "euro area" or "euro area", ie Austria, Belgium , Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain. The share capital of the ECB by the former central bank (Deutsche Bundesbank, Banque de France, Bank of Italy, etc), in turn, the latter are private banks whose shares are held by other banks Private companies or, in the case of the Bank of Italy shares are owned by (in order of shares / votes), Intesa San Paolo SpA, Italian Unicredit SpA, Assicurazioni Generali SpA, Cassa di Risparmio di Bologna, INPS (the first result, after him is only INAIL), Banca Carige Spa, Banca Nazionale del Lavoro SpA, Banca Monte dei Paschi di Siena SpA, etc etc (the full list can be found at this link ). So the ECB is largely a private bank owned by private individuals through a long series of Chinese boxes and game parts (a bit 'as those that allow Tronchetti Provera to control Telecom with a measly 0.11% of properties). Well now that more or less know who they are and what we need to know what the ECB says, therefore the main purpose of the European Central Bank is to keep under control the trend of prices by maintaining the purchasing power of the euro, the ECB shall In fact, the control of inflation in the 'euro area "taking care to contain, through appropriate monetary policies (controlling the monetary base or by setting short-term interest rates), the rate of inflation over the medium term at a lower level (but still close) to 2%.
Question: Who gave him this task?
Answer: The European Union, the ECB was established under the Treaty establishing the European Community and the "state of the system European central banks and the European Central Bank ", on 1 June 1998.
Question: how does its mandate?
Answer: defining and implementing monetary policy for the euro area, conducting foreign exchange operations, holding and managing the official reserves of the euro area, promoting the smooth operation of payment systems but also holding the exclusive right to authorize the issuance of banknotes within the euro area. And here we must deepen because the ECB not only authorizes the issuance of currency I regulates interest rates and, unbelievable, collects them.
Talking down to earth, the ECB, private entity made up of private capital, public entity is authorized by the European Union to provide money agl'europei regulating the flow and is also entitled to get back the money from the famous maggiornadolo same interest rate (which decides in full autonomy). It might also seem a normal thing if that money was not the ECB creates it from nothing. Of all this, moreover, do not realize it because we owe the solid state, which in turn requires us through taxes.
From our bank accounts so they are literally stolen money ends up in the pockets of a few simply because we use pieces of paper to pay for material goods. What gives value to those pieces of paper is both our most big problem.
And here we return to what I said before and is part of the forger, the modern benefactor. The Counterfeiters
print money and subvert the monopoly system of the ECB creating a free market. He, like the ECB, create value from nothing but the money but selling at a lower price than the face value and without interest rate and making it more convenient. So it's a good thing.
Not only that, by increasing the flow of money into the system causes a rise in inflation that would raise the average prices of material goods that would result in a chain, talking about big money, the rate cut by the ECB to prevent the market jumps. Second good thing because results in less taxes paid to the state, which then girererbbe banks and direct more money into the pockets of citizens.
All I said was explained in a simplistic way, without going into technicalities too cheap but often has the sole task of making inaccessible man in the street and the perverse mechanisms, let's face it all, cheating that govern our economy. Nevertheless, the description just given is simple, but very close to reality and should give pause. The next time you hear the Governor Draghi, who tells us how we should send him out of the crisis because the crisis is fuck him. Viva counterfeiters!
Sources:
wikipedia.it
www.ecb.int
www.bancaditalia.it
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