Neoliberal madness (Italy and EU)

oday the European Union, far from being that dream of peace and brotherhood that we were told about, is a set of legal rules that prohibit the State from doing what our founding fathers wished, considering of the tragedies they had lived.

The Union prohibits the control, discipline and coordination of the State in the economy, indeed it puts itself in a position to eliminate the State itself, even preventing it from holding one of its founding prerogatives, monetary sovereignty: the power to create money out of thin air and to impose this currency as a means of payment on its territory. The European Central Bank has an incredible ban on creating money for states, being able to do it only in favor of the financial markets, and it is not an unlimited lender of last resort.

Basically we are in the presence of the maximum possible liberalism where the State is demoted to the level of any subject of private law, and how any private subject can fail for commercial law reasons.

Without a Central Bank, the State does not control the economy, but is helplessly subjected to any speculative attack that is acceptable to the large holders of capital, betraying the opposite constitutional provision which instead requires the Republic (of Italy) to regulate, coordinate and control credit (Article 47 Italian Cost.).

With budget constraints, think of the well-known deficit ceiling, we then transformed the society into what Keynes called “the parody of an accountant’s nightmare”.

If the state deprives itself of the legal possibility of making expansionary policies, it will be the entire economy that will no longer be able to expand. If the State then gets into debt in a currency that it cannot issue, obviously it will be able, exactly as it happens today, to find itself in the situation of not being able to honor its debts, and it will be obliged to recover the necessary money from the pockets of citizens, impoverishing them.

The banning of expansionary policies, behind the “imbecile” dogma of having lived beyond our means, has a precise political and social value. It allows those very few private individuals who hold large strata of property and capital to dismantle all that is public piece by piece, appropriating themselves of further assets, further wealth, and ultimately further power.

If you play Monopoly, a perfect example of neoliberal theoretical application, wealth and property, in the absence of the redistributive intervention of the state, all end up in the hands of a single player, all the others lose everything.

Thus the Parliaments, as recently denounced by the Minister (of the Italian Republic) Orlando, are emptied of their powers and confronted with accomplished facts that are determined in the supranational context. This is how the Minister explained the inclusion of a balanced budget in the Constitution, as a blackmail by the financial markets and by the European Central Bank which protects their interests.

This is what we need:

1. restoration of the monetary and economic sovereignty of the state;

2. abandonment of austerity policies and introduction, through public deficit spending, to be financed through a central bank controlled by the state, or even through the mint, of the money necessary to restart the demand for goods or services destroyed by insane policies of austerity;

3. full employment as an objective of the state’s monetary policies, abandonment of the dogma of price stability imposed by the EU;

4. application of the worker’s right to remuneration appropriate to the quantity and quality of the work performed and in any case sufficient to ensure a free and dignified existence for himself and his family, an end to wage deflation policies;

5. restoration of the social function of property by limiting its excessive centralization and redistributing the relative wealth among the population, a measure that must concern large groups of national and international capital which will have to be subjected to rules again according to the public interest, precisely in order to achieve the greatest possible wealth and prevent economic power from becoming a political power again;

6. prohibition of private initiatives in conflict with the public interest and full power of Parliament to coordinate, discipline and control the economy according to the will of the people’s representatives.

Unfortunately, when the majority of people will understand this, it will be too late.

This is all very sad, very few people realize it.

In other words, therefore, what must be done is only to apply the 1948 Constitution to the letter, and return to respect the social economic model contained therein. Markets can do nothing against a state, our current submission to them is only due to the lack of sovereignty. If the State regains possession of its founding elements, including sovereignty, the markets will no longer be able to carry out any type of blackmail and, exactly as the Constituent Fathers wanted, the sovereignty of the Italian people will return to being unconditional on our territory, by stopping the subversion of the democratic order in progress.

WAKE UP!