Organizing Notes

Bruce Gagnon is coordinator of the Global Network Against Weapons & Nuclear Power in Space. He offers his own reflections on organizing and the state of America's declining empire....

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The collapsing US military & economic empire is making Washington & NATO even more dangerous. US could not beat the Taliban but thinks it can take on China-Russia-Iran...a sign of psychopathology for sure. @BruceKGagnon

Monday, August 01, 2022

Mario Draghi the banker ruins Italy

 

 



DRAGHI: MISSION ACCOMPLISHED

By Manlio Dinucci (Grandangolo TV Program on Independent Byoblu TV, Italy)

"Among the countries in Western Europe, Italy had one of the strongest links with Russia. Draghi's mission was to break this pattern repositioning Italy in relation to Russia": the New York Times writes. 

 

Italian Prime Minister Mario Draghi [resigned from the office on 21 July 2022 and will remain as caretaker prime minister until a new leader is elected] has not only transformed Italy into a belligerent country against Russia by sending weapons and instructors to the Ukrainian forces but has promoted sanctions against the Russian central bank and the admission of Ukraine to the EU. For these and other "merits" the authoritative USA Fortune magazine includes Mario Draghi among "the 50 greatest leaders in the world".

 Draghi's career took a decisive turn when - after having dismantled the Italian public assets with privatizations as Director of the Treasury - he became director and vice president of Goldman Sachs. Goldman Sachs is not just a US bank but a powerhouse of the financial elite who through the "revolving door" policy places its men in key institutional positions. 

 

                                              Draghi (sitting) is confronted by a protester

 

From 2005 to 2021 Draghi first became Governor of the Bank of Italy, then president of the European Central Bank, and finally Premier of the Italian Republic.

The results of the "mission" that Draghi carried out with the total complicity of the Italian Parliament plunged Italy into an unprecedented crisis: while the price of gas (following anti-Russian policies) rose from 15 to 200 euros per megawatt hour, Italy accumulated such a level of liabilities that - writes Fortune - "the cost of the loan for Italy has become prohibitive, rising to unsustainable levels". 

The Italian crisis is similar to the one in which Greece plunged losing what remained of the public assets with the "rescue package" of the EU. The situation is aggravated by the devaluation of the euro against the dollar, which increases the cost of imports. The decisive factor, therefore, is to overturn the policy that Draghi has implemented with his "mission" in Italy.

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