The New Bankers

photo by Julien Magnat

Draghi, the Governor of the Bank of Italy, has asked the banks to reduce the cost of services. And to get in line with Europe. Profumo has replied.

He shouldn’t have done. Since he’s been living with Geronzi, the convict, he’s not been himself. Every morning he asks his private mirror: “Who is the most beautiful banker in the realm?” And the mirror always replies: “It’ll go to Banca Intesa”. He’s destroyed, he’s a man injured by banking love. But not for this must he put into the market the thoughts of usurious banks.

The cost of mortgages, he explained, are higher in Italy than the average in Europe because there are “different conditions”. “In Italy it takes 7 years to get a house for those without a mortgage, in Germany 12 months”.

A Cartesian way of reasoning, the entrepreneurial risk all falls on the client, on everyone: on those who pay for a mortgage and on those who don’t.

Thus, every citizen should be able to invoke the “different conditions” in case of difficulty. And act accordingly. Not pay taxes because the State doesn’t provide adequate services. Not pay for the motorways because the travel times doubles because of road works. Not pay Ici because the State doesn’t reimburse the tax credits. Not pay the insurance because it’s too costly. Not pay more than 50 cents for a coffee.

Furthermore, when faced with “different conditions” the Italian unilaterally increase the prices of what he sells, including his own labour. Basically copy the banks.

The cost of money has reached the stars, those that can’t manage with a variable rate mortgage , have two choices: either they “let the bank take the house” or they finish up in the hands of usurers. Tens of thousands of families are losing their homes, perhaps after 7 years, as Profumo says. But who advised the families to get a variable rate mortgage? Perhaps the banks? And who gains in the end, as always, from the “different conditions”? To find out, read the Unicredit quarterly report : 3,191,000,000 euro as operating profit in the first 3 months of 2007.

Posted by Beppe Grillo at 10:23 AM in | Comments (4)
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Is that all you have to say about banks?????????????

Oh my god!!!!!

Grillo ,as always, has merely scrached the surface of the problem. Jesus christ Beppe!!!! If you really had to write a post about Draghi and the Italian banking cartel don't you think you could have come up with something better than that?
You never talk about seignorage.

You never mention that the bank of Italy is PRIVATE.

You never explain to people what the public debt of a nation is and to whom we owe this money.

Nevermind the bloody mortgages!!!!

Money is being manipulated at its source. Its function and nature has been politicized for private gain. Money no longer represents credit. It constitutes only debit. That's right!!! All the money in circulation that has been issued by central banks is DEBIT. Despite the fact that it can be spent in order to acquire goods and services, the money that you have on your pockets right now is just part of a massive collective DEBT that we owe to PRIVATE central banks!!
Central banks create money out of nothing as money today is no longer backed by any reserve. The only thing that gives money any value is the fact that we accept it as a conventional form of payment. Therefore money has a value only because it is backed by the collective credit of a nation, its labor force and its ability to produce.

This is ,bar none, the biggest rip off ever perpetrated to the detriment of the people of the world. It's been going on for the past 312 years.

This is without a shadow of a doubt the main reason why there is a constant need for wars (the biggest debt generating machine of all time). This is the cause of poverty. This is the only real globalization that is happening to us. We all are in debt. One way or another.

Originally money was just an intermediary device to buy and sell goods and services. Now is the most powerful instrumentum regni in the hands of the international bankers. Money really does belong to the people. Because without us money is worth nothing.

It is the sign of true intelligence to look at what everyone else thinks is normal and to find it very strange indeed

Posted by: Piero Sanna | July 18, 2007 12:51 AM

Le Banche Britanniche ci Rimettono!
In Gran Bretagna i Conti Correnti non hanno spese ( per l`uso delle Carte, degli assegni, e di tutti i spostamenti Bancari) e molte banche danno un overdraft gratis. Magari alcuni istituti di credito sono delle multinazionali del settore gestite da impreditori seri, forse fanno lavorare il loro impiegati vicino alla media nazionale (42 ore) per 12 mesi non 15 come in altri posti.
Forse , anzi sicuramente lo fanno perche` ci rimettono!... bhe. Magari i loro bilanci dicono una cosa diversa...

Posted by: Vito Breda | July 17, 2007 12:19 PM

Pesce Pilota,

Thanks, finally some good old common sense!

If you were Prime Minister, Italy would be faring much better!!

Posted by: Geppe Brillo | July 17, 2007 11:56 AM

Nella vecchia fattoria ia-ia-o
Quante bestie ha zio Tobia ia-ia-o
C'č la capra-capra-ca-ca-capra
Nella vecchia fattoria ia-ia-o.

Attaccato a un carrettino ia-ia-o
C’č un quadrupede piccino ia-ia-o
C'č la capra-capra-ca-ca-capra
Nella vecchia fattoria ia-ia-o.

Tra le casse e i ferri rotti ia-ia-o
Dove i topi son grassotti ia-ia-o
C'č un bel gatto-gatto-ga-ga-gatto
C'č la capra-capra-ca-ca-capra
Nella vecchia fattoria ia-ia-o.

Tanto grasso e tanto grosso ia-ia-o
Sempre sporco a piů non posso ia-ia-o
C'č il maiale-iale-ia-ia-iale
C'č un bel gatto-gatto-ga-ga-gatto
C'č la capra-capra-ca-ca-capra
Nella vecchia fattoria ia-ia-o.

Poi sull'argine del fosso ia-ia-o
Alle prese con un osso ia-ia-o
C'č un bel cane-cane-ca-ca-cane
C'č il maiale-iale-ia-ia-iale
C'č un bel gatto-gatto-ga-ga-gatto
C'č la capra-capra-ca-ca-capra
Nella vecchia fattoria ia-ia-o.

Nella stalla silenziosa ia-ia-o
Dopo aver mangiato a iosa ia-ia-o
Dorme il bue-bue-bu-bu-bue
C'č un bel cane-cane-ca-ca-cane
C'č il maiale-iale-ia-ia-iale
C'č un bel gatto-gatto-ga-ga-gatto
C'č la capra-capra-ca-ca-capra
Nella vecchia fattoria ia-ia-o.

Posted by: Pesce Pilota | July 17, 2007 10:35 AM

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