Beppe Grillo's Blog: Prodi’s gold

Prodi’s gold

It’s a very worrying time. The stock markets are crashing. The GDP is not growing. However the public employees are always growing. Useless organisations are multiplying. The salaries of councillors, deputies and senators are definitely above the European average. The banks are reassuring. And the more they are reassuring the more worrying it is for us. The value of real estate is going down, but the interest rates for the variable rate mortgages are going up. You pay more to have less. The beaches are half empty and the hotels half full.
An economic war has been declared on the Italians. And to win it we need extraordinary measures. Visco, our V2, is not enough. They have let it go on Valentino Rossi in London. But it’s small fry. Those who don’t pay taxes no longer sin, according to Famiglia Cristiana. It depends on what you pay and to do what. Put like that it’s an encouragement (but correct) to dodge.
Prodi has had a spin on his bike at Predappio. While meditating in front of il Duce’s tomb he found inspiration. If Mussolini asked for gold for the country, he would have asked for gold from the country. He would have used our gold reserves to reduce the debt. Straight away he talked to his wife about it and she stayed silent for a day and then she zoomed off to the psychiatrist. Before Prodi, no one thought about it, and what’s more they didn’t say it. If the public debt, as the words say, is ours then so is the gold. It doesn’t belong to the government, it belongs to the Italians. The State machinery is rubbish. No sane person, wants to have anything to do with it if they can help it. And it costs, it costs a lot. In certain Italian regions, in the South, the Centre, the North it is the main employer. Two million public employees fewer. This must be your objective, employee Prodi. Take notes. Leave the gold where it is.

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Comments

Hello there!
I know is politically incorrect to mention the word “Recession” but where are all the Financial Gurus of the markets.
I read in various Financial Newspapers the amount of money that Central Banks throughout the world have pumped into the market lately (Rumor is approx. 300 Billion Euros) more money that when the twin towers were nailed?
These Gurus wants me to believe that all this financial turmoil is due to 10% Subrime loans in the US?
I can believe the world is flat, that Mr. W. Bush has an MIT Degree and that Mr. Clinton didn’t have sex with Miss. Lewinsky (Although he was smiling?) but the fact that 10% of subprime loans have a value of 300 Billions; sorry this joke has gone too far!
I do have a hunch, maybe some Central Bank has invested money (Yours truly!) in highly leveraged Hedge Funds!
That would make the numbers more credible, since Hedge Funds usually leverage their investments 10 to 1.
That means they have 1 but borrow 10 at a very low rate because they guarantee (Only to the filthy rich!) a very attractive return.
I may be wrong; on the other hand China is making toys for Mattel on whose specifications?
Thanks

Posted by: Giacomo Chiametti | August 17, 2007 04:33 PM

Hello there,
I meant, “I am not an economist or a guru from Omaha”.
Sorry

Posted by: Giacomo Chiametti | August 14, 2007 06:02 PM

Hello there,
I am an economist or a guru of Omaha, although just a little of what is called common sense goes along way!
Especially in Italy just a call to the Oil major to the Industry Minister is worth 0.04 Euro to the price of gas?
While Edge Funds are threading water right now (Finally I may add!) the ECB that keeps National Budgets within the 3% of GDP in Europe (Only I may add, as stupid as it may be especially for Italy!) wants to make sure the Financial System (Big spenders only like Edge Fund and Speculators and Derivatives like the LSE of London!) and therefore the flow of Interest on your money going to the ECB.
Meanwhile putting 100 Billion or so on the Market to assure all the speculators are happy with your money because the M1 interest rate is going up in September like it or not.
Rather than let these big gambler pay for their speculations and ill conceive Investment, the ECB wants you to pay more for your Mortgages and basic needs.
Is this the Europe You waited two millennium for?
Whilst all this is going on, in Italy only the pinnacle of Incompetence is finally looking at the Tax Returns of Italian Millionaires (Mostly made with deals with the Government?)
Meanwhile Military Equipment Manufacturer (Mostly Government Run!) are racking up 2 Billion worth of sale just in 2007 alone!
Where is common sense gone, I sense Mr. Prodi is on the way out, so what he does in his last 60 days before the ship sinks, will take 10 or 11 years before he can be held accountable for it.
Long live, The Italian Institutions!
Thanks

Posted by: Giacomo Chiametti | August 14, 2007 04:46 PM

thank you

Posted by: avsa | August 13, 2007 01:09 AM

Giacomo
I'm not too much surprised that nobody wanted to stone Prodi for this declaration.
Everything comes in three: first the IRI, now the Italian Gold.
What will be next?

Posted by: Giovanni Principe | August 12, 2007 06:45 PM

Hello there,
Seams that, reading Italian newspapers that upon a Fiscal Inspection all of the Sports National Champions residing in Tax Haven Paradises refuse to acknowledge owning anything in Italy and absolutely refuse to return into the Motherland!
Hey maybe that what it takes to get these Idiotic Politicians to get out of the way and outside Italian borders!
Just a very accurate and meticulous Fiscal Inspection (All the close relatives as well I may add!) and I am confident the tide will turn around in the right direction!
Thanks

Posted by: Giacomo Chiametti | August 12, 2007 05:10 PM

Hello there,
It takes a rocket scientist like Mr. Grillo to diagnose Italy’s problems?
Probably not, although from IMF to ECB to the Banca D’Italia, to The Economist and the FT and on and on, they are saying the same things since Mr. Prodi took control.
I am convinced that even the majority of Italians (Included Public employees!) are aware of the problems and the solutions.
Although and I rest my case in Italy only who Makes the Choices is responsible to his/her own Party only.
By the way Parties are private (Very small group of self proclaimed Leaders!) although financed and sponsored by public money?
Has anyone seen a Balance Sheet of any Party?
Here lay the Problem and the solution all wrapped up in one!
Thanks

Posted by: Giacomo Chiametti | August 12, 2007 03:52 PM