MMT Summit - ITALY
Transcribed using Google Translator
Original article (Italian) can be found here
In Italy the training course in Modern Money Theory (MMT) will be held in Rimini, 105 Stadium in a square Pasolini / C, on Friday the 24th (beginning at 21.30 hours) on Sunday, February 26, 2012 (ending at 18.15), with speeches by William Black (JD, Ph.D., Associate Professor of Law and Economics at the University of Missouri-Kansas City), Michael Hudson (President of The Institute for the Study of Long-Term Economic -Trends-ISLET, Wall Street Financial Analyst), Stephanie Kelton (Ph.D., Associate Professor of Economics at the University of Missouri-Kansas City), Marshall Auerback (expert in investment management), Alain Parguez (Emeritus Professor of Economics Ist Class, Université de Franche-Comté at Besançon - France - Faculty of Law, Economics and Political Science), economists of world stature and provided a solid curriculum.
The Modern Money Theory (MMT) is now probably the only existing instrument of economic and social science, which is able to effectively interfere with the process of "financialization of the economy" (which is the transition from productivist capitalism-one that invests money for the production of goods to the drawing-profit financial-market capitalism that derive profit from money through money-) and counter the primacy of the banking system, which is overwhelming politics and democracy.
The main aspect of Modern Money Theory (MMT) is put at the center of the sovereign state's ability to create wealth by issuing currency. In contrast, the euro, that currency is not the sovereign of any of the eurozone countries, forcing states to borrow as an ordinary citizen with the banks. It would be important to make all citizens aware of this aspect, because it is in this context that plays the future citizens. Alain Parguez has so written in relation to the summit Modern Money Theory (MMT) in Rimini: "I will bring the latest research that reveals how the financial coup has been carefully planned by France and Germany who are the masterminds behind the Vatican-Brussels axis .
But since the time of Mitterrand, his advisers knew perfectly well that the entire industrial base of southern Europe would have been destroyed, there to form a new empire "colonial". Now, to come today, it must be said, and I will explain, as European national debts, and the alleged damages resulting, have been greatly exaggerated. Why? Because the big banks should be over-compensated for their losses due to speculation on those debts. In fact, interest rates "shylockiani" (Shylock is the character of the rich jew usurer in The Merchant of Venice by Shakespeare, ed) on eurozone debt is a cornucopia for large European banks and corporations which receive them.
The Euro is still destined to collapse, taking with him the austerity, the destruction of all state spending and productive wild privatization. Coming to your Summit, I bow in front of the Italians, because an event of this kind would be impossible here in France or Germany. "The five economists speakers will illustrate the following themes: Stephanie Kelton and Marshall Auerback (MMT): All that we know money is wrong. The birth of the modern bank in 1971. Currency sovereign vs sovereign coin. We do not have money, the banks have no money, money has no value in itself. So what is money? Who creates the money? The 3 sectors: basic Godley and its fundamental implications for understanding the government's deficit and what they really are. The sovereign state as the creator of net financial assets for the citizens.
Taxes destroy money myths about taxes and how to NOT fund the state with the sovereign currency. What are the fees but not in the Eurozone sovereign. The unpronounceable words: The Debt! The Deficit! They are always the worst ever? Spending in Deficit Spending in Deficit vs Positive Negative. The Deficit Positives are sustainable in a sovereign nation? The Modern Money Theory for reaching full employment, full welfare state, the full education and full production: that is FULL DEMOCRACY. The MMT can help your business? MMT and external debt. The MMT can help us in default from the Euro? As Italy is facing default on the Euro. Alain Parguez: Europe's elites, the genesis of an aberration of democracy: by Schuman, Monnet and Perroux birth of financial tyranny in Brussels.
The origins of the Franco-German and Neomercantile their dream: to get widespread poverty and accumulation of super profits at the top. The European technocrats decide the destruction of European democracies. The true significance of supranational European treaties. The collapse of the European left in the face of neoliberal dogma: a catastrophic deception. The real 'agenda' of the ECB (European Central Bank). The truth about the state of the European economy: the real unemployment, real private debt, the true state of bank balance sheets, the real prospects. What to do now in the Italy on the brink of the abyss. Wlliam Black: The banks are all criminals? The difference between my bank branch and the likes of Goldman Sachs.
The Great Financial Crisis of 2007: Money Manager Capitalism, the Clinton years, the deregulation of finance, the bubble, the explosion of global financial fraud. CDOs, CDSs Toxic assets and explained the grandmother. Nobody on Wall Street has gone to jail, the real conflict of interests of the larger planet. Obama and government-Sachs-Sachs in the U.S.. The contagion from us here: how has destroyed the lives of millions in Europe. The U.S. Wall Street, Italy, the Mafia: Who is worse off? How to prevent the next crisis. Black / Hudson: MF Global & Italy, what you do not know. Michael Hudson: The Triumph of Neoliberal: a historical review of how the Neoclassical killed Marx and Keynes, to introduce neoliberal domination. Clarifying roles and today's protagonists of Capitalism: Imperialism, Multinational Enterprises, Globalization, mega-banks, and how they all worked to destroy democracy.
The rehearsals were done in Eastern Europe: how the Shock Therapy has stripped the post-communist democracies. The Financial Coup d'Etat in Europe: the IMF in the lead the army that has already ravaged Greece, Ireland, Iceland and Italy approaching. And 'possible to keep the financial capitalism in the third millennium? How has degenerated in this way? Black / Hudson: MF Global & Italy, what you do not know. Marshall Auerback: What do the Central Banks with a sovereign currency: what are the reserves, such as controlling inflation BC. The 'ghosts' which frighten us about the operations of BC.
It makes a difference if the bonds are in the hands of domestic or foreign? The BC and the Treasury controls the interest rates by currency sovereign, not the markets. Conversely: the eurozone, where markets have power over life and death over state budgets, as it happens. So who are these markets? What will calm the markets in the Eurozone: The Ability to Pay resulting from the adoption of new national currency sovereign or austerities? Here's what the Spiral of Economic Deflation Sets which comes from the austerity packages, and why things much worse. Unmasking the ECB (European Central Bank) here is what could be done to save us and why it does not.
Who obeys Mario Draghi? Blood in the streets: a projection of the possible collapse of our economies and popular rebellion. Round table on Saturday evening: The 5 economists discuss this issue, "Occupy Wall Street and other movements of 0.1%. The 99.9% is to go shopping - The real tragedy of present-day democracies is that people have lost the ability to react even before the unimaginable made plausible. We riattivarci? ".
For information: http://www.democraziammt.info/ and http://www.youtube.com/watch?v=vanWVMUWF2U
Transcribed using Google Translator
Original article (Italian) can be found here
In Italy the training course in Modern Money Theory (MMT) will be held in Rimini, 105 Stadium in a square Pasolini / C, on Friday the 24th (beginning at 21.30 hours) on Sunday, February 26, 2012 (ending at 18.15), with speeches by William Black (JD, Ph.D., Associate Professor of Law and Economics at the University of Missouri-Kansas City), Michael Hudson (President of The Institute for the Study of Long-Term Economic -Trends-ISLET, Wall Street Financial Analyst), Stephanie Kelton (Ph.D., Associate Professor of Economics at the University of Missouri-Kansas City), Marshall Auerback (expert in investment management), Alain Parguez (Emeritus Professor of Economics Ist Class, Université de Franche-Comté at Besançon - France - Faculty of Law, Economics and Political Science), economists of world stature and provided a solid curriculum.
The Modern Money Theory (MMT) is now probably the only existing instrument of economic and social science, which is able to effectively interfere with the process of "financialization of the economy" (which is the transition from productivist capitalism-one that invests money for the production of goods to the drawing-profit financial-market capitalism that derive profit from money through money-) and counter the primacy of the banking system, which is overwhelming politics and democracy.
The main aspect of Modern Money Theory (MMT) is put at the center of the sovereign state's ability to create wealth by issuing currency. In contrast, the euro, that currency is not the sovereign of any of the eurozone countries, forcing states to borrow as an ordinary citizen with the banks. It would be important to make all citizens aware of this aspect, because it is in this context that plays the future citizens. Alain Parguez has so written in relation to the summit Modern Money Theory (MMT) in Rimini: "I will bring the latest research that reveals how the financial coup has been carefully planned by France and Germany who are the masterminds behind the Vatican-Brussels axis .
But since the time of Mitterrand, his advisers knew perfectly well that the entire industrial base of southern Europe would have been destroyed, there to form a new empire "colonial". Now, to come today, it must be said, and I will explain, as European national debts, and the alleged damages resulting, have been greatly exaggerated. Why? Because the big banks should be over-compensated for their losses due to speculation on those debts. In fact, interest rates "shylockiani" (Shylock is the character of the rich jew usurer in The Merchant of Venice by Shakespeare, ed) on eurozone debt is a cornucopia for large European banks and corporations which receive them.
The Euro is still destined to collapse, taking with him the austerity, the destruction of all state spending and productive wild privatization. Coming to your Summit, I bow in front of the Italians, because an event of this kind would be impossible here in France or Germany. "The five economists speakers will illustrate the following themes: Stephanie Kelton and Marshall Auerback (MMT): All that we know money is wrong. The birth of the modern bank in 1971. Currency sovereign vs sovereign coin. We do not have money, the banks have no money, money has no value in itself. So what is money? Who creates the money? The 3 sectors: basic Godley and its fundamental implications for understanding the government's deficit and what they really are. The sovereign state as the creator of net financial assets for the citizens.
Taxes destroy money myths about taxes and how to NOT fund the state with the sovereign currency. What are the fees but not in the Eurozone sovereign. The unpronounceable words: The Debt! The Deficit! They are always the worst ever? Spending in Deficit Spending in Deficit vs Positive Negative. The Deficit Positives are sustainable in a sovereign nation? The Modern Money Theory for reaching full employment, full welfare state, the full education and full production: that is FULL DEMOCRACY. The MMT can help your business? MMT and external debt. The MMT can help us in default from the Euro? As Italy is facing default on the Euro. Alain Parguez: Europe's elites, the genesis of an aberration of democracy: by Schuman, Monnet and Perroux birth of financial tyranny in Brussels.
The origins of the Franco-German and Neomercantile their dream: to get widespread poverty and accumulation of super profits at the top. The European technocrats decide the destruction of European democracies. The true significance of supranational European treaties. The collapse of the European left in the face of neoliberal dogma: a catastrophic deception. The real 'agenda' of the ECB (European Central Bank). The truth about the state of the European economy: the real unemployment, real private debt, the true state of bank balance sheets, the real prospects. What to do now in the Italy on the brink of the abyss. Wlliam Black: The banks are all criminals? The difference between my bank branch and the likes of Goldman Sachs.
The Great Financial Crisis of 2007: Money Manager Capitalism, the Clinton years, the deregulation of finance, the bubble, the explosion of global financial fraud. CDOs, CDSs Toxic assets and explained the grandmother. Nobody on Wall Street has gone to jail, the real conflict of interests of the larger planet. Obama and government-Sachs-Sachs in the U.S.. The contagion from us here: how has destroyed the lives of millions in Europe. The U.S. Wall Street, Italy, the Mafia: Who is worse off? How to prevent the next crisis. Black / Hudson: MF Global & Italy, what you do not know. Michael Hudson: The Triumph of Neoliberal: a historical review of how the Neoclassical killed Marx and Keynes, to introduce neoliberal domination. Clarifying roles and today's protagonists of Capitalism: Imperialism, Multinational Enterprises, Globalization, mega-banks, and how they all worked to destroy democracy.
The rehearsals were done in Eastern Europe: how the Shock Therapy has stripped the post-communist democracies. The Financial Coup d'Etat in Europe: the IMF in the lead the army that has already ravaged Greece, Ireland, Iceland and Italy approaching. And 'possible to keep the financial capitalism in the third millennium? How has degenerated in this way? Black / Hudson: MF Global & Italy, what you do not know. Marshall Auerback: What do the Central Banks with a sovereign currency: what are the reserves, such as controlling inflation BC. The 'ghosts' which frighten us about the operations of BC.
It makes a difference if the bonds are in the hands of domestic or foreign? The BC and the Treasury controls the interest rates by currency sovereign, not the markets. Conversely: the eurozone, where markets have power over life and death over state budgets, as it happens. So who are these markets? What will calm the markets in the Eurozone: The Ability to Pay resulting from the adoption of new national currency sovereign or austerities? Here's what the Spiral of Economic Deflation Sets which comes from the austerity packages, and why things much worse. Unmasking the ECB (European Central Bank) here is what could be done to save us and why it does not.
Who obeys Mario Draghi? Blood in the streets: a projection of the possible collapse of our economies and popular rebellion. Round table on Saturday evening: The 5 economists discuss this issue, "Occupy Wall Street and other movements of 0.1%. The 99.9% is to go shopping - The real tragedy of present-day democracies is that people have lost the ability to react even before the unimaginable made plausible. We riattivarci? ".
For information: http://www.democraziammt.info/ and http://www.youtube.com/watch?v=vanWVMUWF2U
