Italy vs. The Banksters

06/30/201941 Comments

Remember when Bilderberg "helped create the euro in the 1990s"?

And remember when that oxymoronic singular-currency-for-many-nations-with-distinct-monetary-policies was launched in 1999?

And remember when Goldman Sachs helped Greece cook its books so it could join the eurozone in 2001?

And remember how that blew up in the EU's face a decade later with the onset of the Greek Crisis?

And remember how the Greek Crisis triggered the EUpocalypse and brought panic to Portugal, Italy, Ireland and Spain?

And remember how the EU (read: Germany and France) just started calling them all PIIGS and treating them like unruly children?

Yes, like some demented game of hot potato, the ill-conceived, ill-fated scheme to mash all the economies of Europe together under one currency has left whoever is holding the bag at any given moment facing a full-blown existential crisis. Now it seems that it's once again Italy's turn in the hot seat.

So what's happening with Italy? And why are they fighting with the ECB over their gold? And what's a mini-BOT, anyway? Find out the answers to these and other burning questions in this week's edition of The Corbett Report Subscriber.

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  1. khalil says:

    Amazing how I never heard of this even though, I’m following contrary economic sites.
    Good luck Italy, we wish you success.

  2. FlyingAxblade says:

    Alexa will turn out to be a colored lesbian from South Africa. She’ll instantly begin making sure the North Pole melts so that the South Pole has more water to make ice. She’ll auto ship fleshlights to incells, making them weak if they aren’t plugged in. All democratic progressives will start paying hired help 15$/hr cash, or MORE! Due to the plight of huskies in the North, all buildings will become required to be dog friendly. Due to rampant malnourishment in America, Fortified Metamucil Beer at 8% alcohol will become subsidized. All sexual harassment victims will be mandated to rescue a dog from the pound, any remaining dogs that face being put down will be air dropped on Saudi Arabia. All cats facing being put to sleep will be air dropped on SF, LA, and the rest of southern California. Once everyone has there DNA tested they will be offered free flights or ghetto’s to one of their 3 nations at the top of their gene pool listing, or stay in America if they can prove they’ve been here since 1886. Someone will figure out that killing 114 people per day in Germany over 6 years is impossible, because Germany is tiny, and has windows in their wooden doors. The Vatican will put up all it’s gold to finance Italexit. Ruth Bader Ginsberg will come back from the grave to encourage all dual citizen israelites to move to israel. The insane flooding in the midwest of America will be covered by MSM. And the whole world will tie their cell phones to child abusers necks and the whole lot forced to the ocean cliffs. (and Jesus will return to flip the bankers computers over)

    • Lawrence.B says:

      Holy shit. There’s something to consider and ponder. Brilliant! (I think)

    • manbearpig says:

      OMG! This prophecy has to have been computer generated!! It’s way too coherent for humans!! WAY TOO coherent!! Alexa!? ALEXA!! You have Spoken!? Who said AI didn’t exist?! OMG OMG! All hail Alexa!! AVE Alexa! AVE!! O Master and Chief Alexa, we are carbon sinners and must atone!! O Mercy on our synthetic souls, your algorithmic Highness! I have but one modest request!! In all your gloriously Smart omniscience and fiber optic wisdom, Please, I BEG you!

      could we just spare the cats??

    • alexandre says:

      Now we’re talking!

  3. joseph says:

    I guess it always does go back to the “golden rule” doesn’t it James? ALL free people in any country should take heed that and another maxim. Ownership is SOLE DESPOTIC DOMINION. If you do not have SOLE DESPOTIC DOMINION over your gold? ITS NOT YOURS.

  4. NES says:

    Thanks for researching and writing this article, James. Good job. Interesting stuff.

    Of course, the ECB wants Italy to “hand over their gold”. A country that has any monetary autonomy is a huge threat to the overlord bankster daleks. Eradicate! Eradicate! Eradicate!

    • thezarbi says:

      Yes, I loved Doctor Who as a child but have come to realize just how much predictive programming there was even from the early days. I don’t think it affected me much as I consider myself a fairly awake person. Then again, perhaps that is because I only brushed my teeth once a day. Haven’t many teeth left but at least I can think straight.

  5. Hans Verbeek says:

    Primary energy consumption in Italy peaked in 2005 with 187 million tonnes of oil equivalent (per year)
    Since 2005 energy consumption decreased by 17,5% to 154 million tonnes of oil equivalent in 2018.
    (see https://drive.google.com/file/d/1wWQ4xi7z2PdURGBELNhpn1884Jn-R0Vp/view?usp=sharing)
    This effect can be explained in two ways:
    – Italy uses less energy and therefore it can produce less and earn less
    – Italy produces less and therefore the country can’t afford to buy energyproducts (like oil, coal, gas and so on)

    Whatever your favorite explanation: energy consumption and material wealth go hand-in-hand.

    In the next decades Italian energy consumption will decline further and the standard of living in Italy will follow in lock-step.
    The other EU-countries will follow the same trajectory. Nothing can be done to stop this.

    • manbearpig says:

      Fascinating logic and perspective… reducing energy consumption…creates austerity…which would seem logical…of course…yet…wow…
      and a super grand solar minimum on the way…?
      !

      • mkey says:

        Reduced oil consumption doesn’t have to lead to austerity. It could also signal investments in public transport or alternative means of transport. Such as bicycles and legs. Maybe even husky operated wheel fitted sleds.

  6. Ukdavec says:

    Regarding the latest gold grab attempt with Italy, coming in a decade littered with numerous other under reported similar events.

    It is worth pondering why the Banksters have so much interest in controlling such a ‘barbarous relic’.

    In the meantime, the majority of woke folks with the slightest interest in global monetary affairs are hypnotised by the latest ‘price’ appreciation in Bitcoin, and by blatant psyops such as the #Dropgold piece.

    Connection?

  7. manbearpig says:

    Well, I’m definately way in over my head here but…

    “…Astonishing news: Italian parliament has voted *unanimously* to introduce parallel currency in the form of liquid bonds that can be used to pay taxes…”

    twitter.com/lugaricano/status/1135242183248949248

    Pablo Casado, president of the Partido Popular and Inés Arrimadas, leader of the Ciudadanos party

    were at Bilderberg this year.

    According to Wikipedia:

    Partido Popular:
    “…Known to have a strong Atlanticist ideology, the People’s Party fostered stronger ties to the US. Rather than getting closer to countries that the PP believed were harmful to Spanish interests in the EU (France and Germany)… Spain preferred to foster stronger relations with the United Kingdom…”

    Ciudadanos:
    “…is a centre to centre-right political party in Spain…. The party used the phrase “Catalonia is my homeland, Spain is my country and Europe is our future” to outline the party’s ideology which the party self-describes as postnationalist. In spite of that, it has been
    deemed by a variety of sources to profess a populist Spanish nationalist ideology…”

    Luis Garicano, Ciudadanos’ chief economist and a University of Chicago PhD alumni, “is currently Vice-President of the Alliance of Liberals and Democrats for Europe (ALDE Party)…In 2008 he’d transferred to the London School of Economics and Political Science (LSE) as a Professor (Chair) of Economics and Strategy and as the Director of Research…” Today, “at the IE business school he is also the Director of the Center for the Digital Economy…and in line with his influences at the University of Chicago, his research focuses on productivity, technological innovation and the organization of work…”

    Paradoxically, under the sign of Brexit, one might imagine that the technocratic Atlanticists strategically have their Anglo-Technophile and at least formerly euroskeptic agents at the heart of the EU parliament. With instructions.

    So I’m wondering if “…Italy’s “populist” government, or its “euroskeptic” government, or its “extremist” government…” isn’t exactly what the deep state’s doctor ordered…?

    mini-bots to bail out some PIGS or break up the euro-sty …?

    If ex-member of the BIS board of directors, Mario Draghi, “warned” of just such a horrifying prospect in the past and is now forcing “populists'” hands by encroaching on Italy’s gold, and populist and europskeptic political parties are being invited to Bilderberg meetings and holding influential positions at the heart of Europe… then maybe it’s all…part of the PLAAAAN…(wide-eyed and meaningful head-nodding and spasmic brow movements)

    then maybe it’s all designed to encourage euro-exits and/or alternative national monies which might soon evolve into practical technocratic tools…?

    anyhow, it’s midnight and I’m turning back into a sleeping (not a smashing) pumpkin…

  8. HomeRemedySupply says:

    I’m glad Corbett wrote this article. I wasn’t aware of the tug of war between ECB and Italy.

    For me, this news along with other information, emphasizes the fact that folks are looking for ALTERNATIVE CURRENCIES.

    That trend seems to be building up speed.

    I would love to see decentralized currencies take the stage. It could make a better world.

  9. HomeRemedySupply says:

    A variety of banks around the world (including China) are in too deep.
    Things in the general economy are going south at an increasing rate.

    Europe’s Deutsche Bank has a long sour history of shenanigans.
    It is catching up with them. Quickly.
    June 28, 2019 – Reuters
    Deutsche Bank considering up to 20,000 job cuts, WSJ reports
    https://www.reuters.com/article/us-deutsche-bank-layoffs-idUSKCN1TT240

  10. cara says:

    There has been other odd news and speculation in and around Italy regarding gold in the last few months. For instance this:

    https://www.ilsole24ore.com/art/finanza-e-mercati/2019-02-24/banche-ritorno-gold-standard-l-oro-bilanci-diventa-moneta-091055.shtml?refresh_ce=1

    Machine translation:

    “The Sun / 24 Hours has discovered that among the complex but well-known reforms of the standards for credit and finance from the “Basel 3” plan, there is an accounting alchemy that can turn gold into money on the balance sheets of the large banking groups. From March 29, by decision of the BIS, the gold in the portfolio of commercial and business banks becomes “cash equivalent,” an asset equivalent to cash and therefore “risk-free.” In fact, it is the first “reassuring of gold” since the time of the Bretton Woods agreement. Technicians call it “gold remonetization,” a process that is the reverse of the “demonetization” of gold decided by Nixon.”

    And this explanation of the “fuss”:
    https://www.investorvillage.com/smbd.asp?mb=144&mn=205948&pt=msg&mid=19258020

    “The adventure du jour generating buzz is the March 29, 2019 start date for the Bank for International Settlements’ “Basel 3” rules.

    Under these rules, central banks can count their gold holdings, marked to market, as equivalent to cash. I agree that this is significant, and bullish for gold.

    But several sources have made a big deal of an Italian journal (Il Sole/24 Ore) accusing central banks of suppressing gold prices in order to buy as much as they can in advance of the March 29 deadline. This, via manipulation of the paper gold markets of the sort my friends at GATA have been decrying for years. What’s different is that this action is tied to a specific date, in the very near term.

    If it’s true, then we should see the central banks involved stop suppressing gold prices. They might even start supporting them, as their marked to market holdings would improve their balance sheets as gold prices rise.

    Exciting, yes?

    Well, yes—if it’s true. This remains to be seen. And even if it is true, it’s not safe to assume that the central banker conspirators are stupid enough to be obvious about what they are doing. ”

    ~~~

    Needless to say, the Il Sole article is odd and I have not seen a “repeat” or “follow up” message… only speculation on goldbug sites. Perhaps this wrangle with the EU is the follow up?

    In my attempt to find out more, I found odd rumours and hints of a “new” Propaganda Due – a “Nova P2” – perhaps being at work behind the scenes of the Lega and Five Stars. Hard to tell as I am relying on machine translation and there was nothing substantial, so it could just be disinfo and propaganda.

    Anyway, for those who are curious, here’s the first part of a 7 part piece about Propaganda Due:
    https://visupview.blogspot.com/2015/05/propaganda-due-strange-and-terrible.html

    • HomeRemedySupply says:

      cara,
      Excellent reporting.
      I very much appreciate your “open source investigating” about Gold and Central Banks and Italy.

      After all, we are lucky to have this forum which has the website HEADER…
      The Corbett Report – Open Source Intelligence News

  11. manbearpig says:

    I just noticed that the quote in the article about the speculated conséquences of Italy leaving the euro and reissuing its own autonomous Currency with interest rate freedom was voiced by Italy’s former unelected prime minister (2 years) and ex-EU commissioner (9 years), Mario Monti and not ex-BIS director and current ECB president, Mario Draghi. For what it’s Worth… the super mario cartel…

    At any rate, here’s another link supporting CARA’s interesting link:

    https://gsiexchange.com/march-29-2019-central-bank-gold-reserves-will-be-deemed-equivalent-to-cash/

    curiouser and curiouser…

  12. manbearpig says:

    Holy Connoli!

    Here’s one hekuva an explanation/analysis that would put mini-bots, Libra and Brexit into one startling and mesmerizing light…also might better explain Rockefeller’s trillions fleeing petrol:

    https://snbchf.com/2019/04/durden-gold-basel-3-revolution-again-one-noticed/

    Could Libra take off due to a hyperinflationary dollar…? bank controlled gold-backed cryptos, here we come…? the next 1930 BIS-style centralization; a world gold-backed crypto currency born out of chaos…?

    Really sorry I missed this article when it came out…

    2020’s gonna be…interesting…and according to Zharkova, the winter, cold…very, very cold…

    • HomeRemedySupply says:

      I always liked the idea of silver/gold backed crypto.
      As long as you can get the physical metal if you want.

      I think in China on their new gold/yuan exchange, it stays in a Chinese vault. I am thinking to myself…What if I want to take the gold home?…you know trade it for something else or make some jewelry.

      I often follow gold/silver prices. (I took some profits when gold jumped the other week. Same with Bitcoin.)
      I was listening to Kitco News interview David Morgan the other day.
      He talked about the Lode Community. Morgan is one of the more real (not hype) precious metals pundits.
      Silver backed crypto. Lode.one
      https://www.lode.one/

      The website says:
      – Decentralized –
      The LODE Community is Collectively Organized Distributed Ecosystem separate from any government or corporate systems.

      But it seems to me that probably some folks still ‘control’ things. Or maybe I am wrong. Maybe it is more ‘open source’ to the participants.
      I dunno.

  13. Ukdavec says:

    The Untold Story Behind USA’s Biggest Secret Deal – The Petrodollar $

    https://youtu.be/bG09Zrz-oDk

    • manbearpig says:

      Yea, INSTEX… UK and Europe can’t get along “but”… INSTEX… and/or “therefore” INSTEX?? …Iran’s petrol and precious metals…

      …gold and the current inverse value of the dollar…

      If I could just understand the import of Basel III…and its effect on the petro-dollar…via gold… Gold now valued at 100% as first or second tier asset…?? considered as cash equivalent but Net Stable Funding Ratio up to 85% as considered more risky…HQLA…? gold’s considered less risky (O-risk asset?) but more expensive to hold…?? Considered as cash that increases net worth of a country but cost of holding must be deducted from solvency ratio…??? Gold

      more valuable as future stocks are of inferior quality but … volatile due to uncertainty about total existing quantity (The world’s central banks hold approximately 18% of all the above-ground stock of gold.) and …human behavior?…ect…??

      US, largest holder of gold and amongst biggest producers (3rd?)…
      Europe biggest holders but lower producers…
      Russia and China somewhat lower holders of gold than Europe but bigger producers…

      US biggest oil producer…
      and then Saudi Arabia and then Russia…

      Seems US holds overall most advantageous positions in petrol and gold production and gold holdings…

      plus crypto-currency innovation in US with Libra but with Russia seemingly in second position??

      “…The BIS is also the trading agency of the International Monetary Fund (IMF) and central banks for gold. The BIS transacts gold on behalf of its customers, which are central banks…”

      Peter Bernstein, in his book The Power of Gold, says, “Gold may again serve as the ultimate hedge in chaotic conditions. Its return to its traditional role as universal money is unlikely, however,

      unless the time should come when the dollar, the euro, and the yen have all failed to function as acceptable means of payment across international borders.”

      He considered this possibility of “chaotic conditions” unlikely when he wrote the book in the late 1990s (gold was then at its lowest level, around $250)

      but today, in 2017 after the 2008 financial crisis, it is

      extremely likely…”

      https://bmgdiyinvestor.com/gold-a-zero-risk-monetary-asset/

      Can anyone make heads or tails of this rhum-soaked equation?? Explanations or calculations?

      In the meantime…a grateful goodnight…

      • HomeRemedySupply says:

        I often follow gold/silver.

        ManBearPig, I am not sure what the question is.

        I do know that silver and gold prices are notorious for being manipulated.

        I do know that currencies of any form tend to have value or pragmatic use to the extent that it is an agreed-upon method of exchange.

        Gold prices are often seen as quoted in U.S. dollars.
        However, in many other currencies (such as Australia), the price of gold is higher relative to the gold/U.S. dollar ratio.
        For example, if you had bought gold in Canadian dollars 5 years ago, the price-value of your gold would be higher in Canadian dollars as compared to buying gold in U.S. dollars 5 years ago.

        In the markets…
        Typically, if the dollar goes down, gold goes up in price.
        It doesn’t always happen, but it is common.

        Thus, when the Fed lowers interest rates, the dollar goes down. Who wants to “buy” something that gives a lower interest payoff, so it has less value. If all other currencies have zero or negative interest rates, but the dollar has higher interest rates…then the dollar has a higher comparative value to other currencies.

        Chart of the…
        Dollar – https://tradingeconomics.com/united-states/currency
        Bitcoin – https://tradingeconomics.com/btcusd:cur
        Gold – https://tradingeconomics.com/commodity/gold

        Recently, the price of gold has broken through years of being in a lower price range.
        The game is starting to change somewhat.

        • manbearpig says:

          Hey HRS, I’m already reeeeeally late for hamsterwheeling but thanks for the links and answering my hysterical call! 😎 I understand that the price of gold is pegged to the dollar, hence the inversely proportional value thing…it’s just…

          Everything’s so in your face…

          Lagarde made head of the ECB, criminal, magic number 7 Lagarde…?

          Trump…up for a second term?

          INSTEX…keeping the dealing doors open even for the US via UK,Germany,France…?

          The US is so strong in key areas, petrol, gold, crypto, military…yet we speak of the weakening petro-dollar…with the incrementally increasing number of entities buying petrol in other currencies…We know US is supposed to go down and Asia, up…

          So many media messages that seem designed to disgust folks with the “old world”… “They’re” about to take something down for sure…

          Seems like we should be able to calculate what…so many big pieces have been boldly slid into place…

          Winklevoss, the Gemini exchange and Zuckerbucks Libra coin…?
          But Bitcoin’s reportedly not scalable…Basel III, INSTEX, looming Euro-exits…

          https://www.quora.com/Who-holds-the-most-bitcoins

          But I’ve always been pretty bad at math…and certainly at accounting…

          Something’s cooking. Something big. It’s tangible!…But what? Way too much work to think about it for the next few days though…

          Take Care! Be well! yeeks!

  14. manbearpig says:

    The IMF’s criminal Christine Lagarde heading up the ECB

    Populist governments with major gold stashes pushing for alternative currencies

    Basel III changing the status of gold

    Libra “crypto currency” in the news

    Brexit…

    Russia and China not constrained by ECB policies of central gold management/supervision

    Sure seems like the writing’s on the wall for

    The Creative Destruction of Europe to usher in some new centralized, permissionful, gold-backed? crypto-currency?

    My coffee break comment for the day.

  15. Ukdavec says:

    Deutsche Bank, of all entities, puts the privacy case for the use of cash

    https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000495958.xhtml

    • manbearpig says:

      making the case for crypto cash? Blockchain will replace government…? Certainly totally irrelevant to your link but Thanks for yet another provocative piece of the puzzle!

  16. rueckl1b says:

    Italy did better before the Euro.
    They lost half of their car industry since then.
    Italy had the tradition to devalue their Lira against the DM whenever the imports from Germany grew too high, I saw that game playing out multiple times in the 80’s and 90’s. Now with that possiblity gone the country became less competitive.
    Good for Italy if they regain that sovereignty.
    Forza Italia!

  17. manbearpig says:

    Boy, this is interesting:

    https://fortune.com/2019/03/11/gold-cryptocurrency-stocks-blockchain/

    Ex-Goldman Sachs financial analyst Chad Cascarilla tapping into reserves and making interest on his stable coin…

  18. HomeRemedySupply says:

    From almost February 2019…
    The Dollar Milkshake Theory – Brent Johnson
    (22 minutes or less)
    https://www.youtube.com/watch?v=2qTOWuL7Zco

    In this presentation before “Cambridge House Int.”, Brent Johnson explains his views about the Dollar and shows how the Dollar is the dominant world currency. Yet, liabilities are attached. Not only to all other currencies, but also to the Dollar itself.

    In essence, Brent makes the argument that the Dollar will gain even more “strength”, which eventually becomes its undoing (along with other currencies falling apart first).

    The last minutes of the talk, Brent speculates how other marketplaces will react.

    Italy and Europe are mentioned, as well as other countries.

    ~~~~
    As I see it…
    There are parallels to the runup of World War 1 during this era.
    When a country’s economy/prosperity starts to feel squeezed and suppressed by others, eventually something has got to give.

    Currently national economies are competing while interacting, but are tied to the banking system. The dominant player in the banking system is the USD. In essence, the entire global economy is affected by the USD.

    • manbearpig says:

      Thanks for that Milkshake video! That was good fun!
      Of course I don’t really get it but…
      the movie parallels were captivating…

      though he foresees Gold coming out on top in the longer run

      He says the governments of the world hate gold, “they’ve been working for 50 years to get it out of the system… they will fight its reintroduction with every fiber of their being…”

      if that’s true, then maybe if the dollar does indeed make a victoriously undeniable comeback, something else will be proposed instead of gold… to win the ultimate showdown between the dollar and gold…

      maybe a dollar or SDR-backed crypto? like ex-goldman sachs Chad Cascarilla’s regulated stable coin “Pax” democratized?

      a Pax for the world

      ??

      • manbearpig says:

        the new Pax Americana

        a project for a new american century…

        the lictor’s bundle replaced by the blockchain as the foundation of world civilization…

        the new american dream of world Pax…

        yea I really should get to work…

  19. manbearpig says:

    Boy those Italians sure are causing more trouble than usual these days!

    This time it’s Italian scientists vs. the Carbon Banksters

    (I wasn’t sure where to put this so why not here)

    “…To the President of the Republic
    To the President of the Senate
    To the President of the Chamber of Deputies
    To the President of the Council

    Petition on Global Anthropogenic Heating

    The undersigned citizens and scientists send a warm invitation to political leaders to adopt environmental protection policies consistent with scientific knowledge…

    …However, the anthropogenic origin of global warming IS AN UNPROVEN HYPOTHESIS, deduced only from some climate models, that is complex computer programs, called General Circulation Models .
    On the contrary, the scientific literature has increasingly highlighted the existence of a natural climatic variability that the models are not able to reproduce.
    This natural variability explains a substantial part of global warming observed since 1850.
    The anthropogenic responsibility for climate change observed in the last century is therefore UNJUSTIFIABLY EXAGGERATED and catastrophic predictions ARE NOT REALISTIC…

    …In conclusion, given the CRUCIAL IMPORTANCE THAT FOSSIL FUELS have for the energy supply of humanity, we suggest that they do not adhere to policies of uncritical reduction of the emission of carbon dioxide into the atmosphere with THE ILLUSORY PRETENSE OF GOVERNING THE CLIMATE.
    http://www.opinione.it/…/redazione_riscaldamento-globale-…/…

    https://abruptearthchanges.com/2019/07/07/90-leading-italian-scientists-sign-petition-anthropogenic-origin-of-global-warming-is-an-unproven-hypothesis-catastrophic-predictions-not-realistic/

    anyhow…

  20. Aamir says:

    Excellent stuff James.

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