Dozens Of Italian Businessmen Send Letter To Parliament Demanding Imposition Of Capital Controls Instead Of EPS Cutting Austerity

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Wed, 08/24/2011 - 13:28 | 1595808 pan
pan's picture

Barter bitchez!

Wed, 08/24/2011 - 13:39 | 1595832 asdasmos
asdasmos's picture


Wed, 08/24/2011 - 14:01 | 1595946 MillionDollarBonus_
MillionDollarBonus_'s picture

It's such a shame to see this country on the verge of credit collapse when they were once one of the most successful examples of monetary stimulus. The Roman empire was built by courageous politicians who had the foresight and genious to start expanding the money supply by reducing the quantity of precious metals in their coinage. It is this brave and bold idea that built one of the most amazing empires in all of history, the likes of which people could hardly have imagined before. Top nobel prize winning economists have studied these success stories and have been strong proponents of monetary and fiscal easing as a result. It's just so sad that these ignorant libertarians are causing a liquidity crisis when we could be living in a utopia.

Wed, 08/24/2011 - 14:26 | 1596045 JimBobOMG
JimBobOMG's picture

Troll :x

Wed, 08/24/2011 - 14:41 | 1596109 TonyBoomBoom
TonyBoomBoom's picture

Why is this being downrated? It's sarcasm gold! I'm always up for some sarcastic humor!

Wed, 08/24/2011 - 14:45 | 1596124 Sancho Ponzi
Sancho Ponzi's picture

MDB sure sounds like Hamy, doesn't he?

Wed, 08/24/2011 - 14:56 | 1596173 JohnG
JohnG's picture

Unless this is sarcasm you are a world class moron.  Please open a history book and read all about currency debasement.

Wed, 08/24/2011 - 15:19 | 1596258 Koffieshop
Koffieshop's picture

Yes exactly. As long as everybody keeps betting on the economy growing to infinity, there will be prosperity for ever.
How is this not clear to everyone by now?

Wed, 08/24/2011 - 15:22 | 1596266 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Some of us appreciate well written comedy MDB.  The down-voters are totally embarrassing.

Wed, 08/24/2011 - 19:41 | 1597316 spdrdr
spdrdr's picture

Hear! Hear!  That was magnificent droll humour, MDB.  Well done indeed.

Wed, 08/24/2011 - 13:40 | 1595862 russki standart
russki standart's picture

When in the heck has a tax increase ever solved excessive spending? Nevertheless, they should lead with a tax on the Catholic Church, and ask the Vatican to return some of the TRILLIONS they have stolen over the centuries. 

Wed, 08/24/2011 - 14:30 | 1596063 Oh regional Indian
Oh regional Indian's picture

ohhhhh Russki, an angry old man in a yamulka, weilding a broken cross is going to be sending a Monsignouer your way for such blasphemy. 

It issssssss alllllll lbelongs to gawd. Precious all belongssssssssssss to ussssssssss.......


Thu, 08/25/2011 - 06:52 | 1598509 plonati
plonati's picture

In 1870, when the Savoia monarchy conquered Rome, the new italian state seized almost all the properties of the Vatican around the country, including trillions in artworks, starting from the Quirinale palace. This enormous fortune was spent by the monarchy to finance, among other things, the greatest house building program in the country's life, while artworks have become property of the Italian state. This bulding activity was the base on which the italian economy had relied upon for almost half a century. They stole, but they have been stolen. Deuce?

Wed, 08/24/2011 - 14:10 | 1595974 Gene Parmesan
Gene Parmesan's picture

All the maximum on cash transactions will do is force both sides of the transaction to acknowledge that the taxes aren't going to be paid. In my experience, the purchaser knows (and doesn't care) anyway if it means they're getting a better price.

Underground economy is underground.

Wed, 08/24/2011 - 13:28 | 1595809 Negro Primero
Negro Primero's picture

Strange,,,, no Machiavelli among the signatories

Wed, 08/24/2011 - 14:05 | 1595961 Sancho Ponzi
Sancho Ponzi's picture

Italian version:

'reducing to 1.000 the maximum limit for cash transactions and the introduction of the obligation of electronic payments for amounts that exceed 300 euro, possibly providing the elderly with a credit card through Poste Italiane and / or Banco Posta'

US version: 

reducing to $1 the maximum limit for cash transactions and the introduction of the obligation of electronic payments for amounts that exceed $500, providing the elderly with a credit card issued by JP Morgan, no 'possibly' about it.

Wed, 08/24/2011 - 14:24 | 1596039 indio007
indio007's picture

I'm pretty sure we are half-way there. Doesn't JP Morgan adminster EBT cards?

Wed, 08/24/2011 - 14:51 | 1596157 Rockfish
Rockfish's picture

Whith one exception - Political contributions can be made in any form (gold, cash, chickens ..)

Wed, 08/24/2011 - 13:29 | 1595812 entendance
entendance's picture

it's never too late for readers here to understand that the only and true news about Italy come from Beppe Grillo's blog




Wed, 08/24/2011 - 13:31 | 1595823 Azannoth
Azannoth's picture

Class warfare, bitchez!

Soon to be followed by Racial warfare(not the stealthy kind we've been fighting for the past few decades) but a more open kind

Religious warfare

and than any warfare you can name

Wed, 08/24/2011 - 13:42 | 1595867 Leopold B. Scotch
Leopold B. Scotch's picture

Only a matter of time before anyone who bought gold is declared an economic terrorist for not blindly supporting the currency / for refusing to submit to repeated rapings by the policy authority political power oligarchy.

Wed, 08/24/2011 - 13:47 | 1595883 Azannoth
Azannoth's picture

Modern Marxists tend to hate anything that has an image of being strong, good and successful. They hate Europe, America, they hate Western civilisation, they hate white males, and they hate rationality. The reasons that modern Marxists give for hating the West, etc. clearly do not correspond with their real motives. They SAY they hate the West because it is warlike, imperialistic, sexist, ethnocentric and so forth, but where these same faults appear in socialist countries or in primitive cultures, the leftist finds excuses for them, or at best he GRUDGINGLY admits that they exist; whereas he ENTHUSIASTICALLY points out (and often greatly exaggerates) these faults where they appear in Western civilisation. Thus it is clear that these faults are not the leftist's real motive for hating Europe, America and the West. He hates the West because they are strong and successful.

(yes I copy&paste that btw.)

Wed, 08/24/2011 - 14:12 | 1595992 AnAnonymous
AnAnonymous's picture

How can the West be ethnocentric? Only in a racist mind, one could suppose.

Greeks might be ethnocentric. But how could this lead to the West being ethnocentric?

 US world order.

As to being successful, alas, with success, comes the revelation of the true self. Casting the blame for the state of the world at present times on one other part than the West is a hobby in this US world order, where propaganda is rife, denial of basic facts a genetic urge, dilution of responsibility as vital as breathing.

Wed, 08/24/2011 - 14:44 | 1596123 Oh regional Indian
Oh regional Indian's picture

"alas, with success, comes the revelation of the true self"

That is a brilliant insight AnAnony. Hmmmmm.....


Wed, 08/24/2011 - 16:12 | 1596420 GoinFawr
GoinFawr's picture

"(yes I copy&paste that btw.)"

 Directly out of Anders Breivik's manifesto?


Wed, 08/24/2011 - 14:07 | 1595972 Captain Obviousness
Captain Obviousness's picture

But the really important thing to point out here is that Butters' last name is Stotch not Scotch.

Wed, 08/24/2011 - 14:35 | 1596082 trav7777
trav7777's picture

racial warfare is already open if you are at one of these big state fairs or "black family reunions"

Wed, 08/24/2011 - 13:31 | 1595824 gwar5
gwar5's picture

Economic Martial Law, Guido style.  That's amore'!  Oh sure, that'll just fix everything right up, spit spot.

Wed, 08/24/2011 - 13:32 | 1595826 magpie
magpie's picture

Absolutely hilarious.

Wed, 08/24/2011 - 13:39 | 1595861 Negro Primero
Negro Primero's picture

...and/or gattopardian

Wed, 08/24/2011 - 13:36 | 1595834 sqz
sqz's picture

Back to 1950's style capital controls, just before the creation of the Euromarkets (foreign currency short term deposits) by a UK bank (think it was Midland Bank - precursor to HSBC) as a way to bypass strict worldwide government capital controls at the time? We seem to be coming back to full circle. All we need now is a gold/commodity money standard which no longer looks completely implausible. Ironic!

Wed, 08/24/2011 - 13:34 | 1595836 falak pema
falak pema's picture

He is the hottest news about Italy :

There will be intense competition on this front if the Economy continues to tank. DSK, Berlu, the football crowd, you name it ...every man and his cock rooster...

Silvio Berlusconi Might Write A Book About All The Women He's Slept With

Read more:

Wed, 08/24/2011 - 13:36 | 1595846 Azannoth
Azannoth's picture

I wonder if he includes all the under-age callgirs too ? hmmmm

Wed, 08/24/2011 - 14:40 | 1596105 trav7777
trav7777's picture

if you were him, wouldn't you?  WTF, hell yes you would

Wed, 08/24/2011 - 13:36 | 1595840 Catullus
Catullus's picture

The term is oligarchy. And it's caused left liberals in the US in particular to black out and blame everyone and everything except the state which they've entrusted to elevate all of humanity. It's sometimes referred to as the fatal conceit. They've entrusted a organization with a legalized monopoly on violence to "regulate" the free movement of capital, then wonder aloud why there's a greater level of inequality and injustice.

I'm playing the democracy-Santa clause convergence.

Wed, 08/24/2011 - 13:39 | 1595859 MethodMan
MethodMan's picture

The more controls on currency the less useful it becomes. When it become useless to the general population...

Wed, 08/24/2011 - 13:43 | 1595868 New American Re...
New American Revolution's picture

Capital controls, yeah baby, that always works.

Wed, 08/24/2011 - 13:43 | 1595869 nah
nah's picture

cash and PMs are overrated anyways... killing and bribing for influence is the way to future democratic capitol formation

Wed, 08/24/2011 - 13:43 | 1595870 Dick Darlington
Dick Darlington's picture

Or then You can take the popular path chosen by the greeks for example, say fuck austerity and call it general strike.

Wed, 08/24/2011 - 13:43 | 1595871 hunglow
hunglow's picture

I drink a double espresso Italian roast each morning.

Wed, 08/24/2011 - 13:46 | 1595882 Helicon
Helicon's picture

They didn't propose to sell off state assets and gold?

Wed, 08/24/2011 - 13:52 | 1595906 CrashisOptimistic
CrashisOptimistic's picture

Speaking of which, another $900 of drop and I might be a buyer.

Wed, 08/24/2011 - 13:58 | 1595924 Stuck on Zero
Stuck on Zero's picture

We're looking at the first opening salvos of the final epic battle for financial supremacy.  It will be the mega-wealthy vs. government employees.  The middle class and the poor have dropped out of the race.

Wed, 08/24/2011 - 16:20 | 1596446 slackrabbit
slackrabbit's picture

Great facists to the left, facists to the right...

Wed, 08/24/2011 - 13:59 | 1595928 Fed Supporter
Fed Supporter's picture

 "the one notable proposal is for all cash transactions over €300 to be banned, and to be permitted only in electronic format."

Cashless Society.

Coming soon to every country near you.

Wed, 08/24/2011 - 14:47 | 1596127 hedgeless_horseman
hedgeless_horseman's picture




Revelation 13:17

"So that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name."

Wed, 08/24/2011 - 15:34 | 1596301 Fed Supporter
Fed Supporter's picture

I only know one way that all buying and selling can be controlled, that is with electronic money.  Even if it is an electronic currency called XYZ backed by gold, oil or other commodities.

Wed, 08/24/2011 - 16:30 | 1596469 smore
smore's picture

Total Slavery.

Coming soon to every country near you.

If you're lucky, otherwise it's a shallow grave, unless you start planning violent resistance NOW!

Wed, 08/24/2011 - 19:46 | 1597339 Kali
Kali's picture

Yes, that's what got me too.  Wow.  A partial ban on cash, full ban soon?  So much for "all debts public and private".  The Italians should be burning down every bank in the country.  And the politicians.  This is a VERY scary development, and, yes, coming here soon.

Wed, 08/24/2011 - 14:00 | 1595940 Mariposa de Oro
Mariposa de Oro's picture

So when can we expect our masters to impose these controls on us?

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