THE BANK OF ITALY
THE ITALIAN GOVERNMENT GIFT THE BANK OF ITALY TO THE PRIVATE BANKS. WITH ALL THE GOLD THAT THERE ‘. ABOUT 100 BILLION € OF GOLD, ONE REAL ESTATE HUGE. AND ALL THE REST. THE ITALIANS DO NOT SAY NOTHING AS USUAL …
-The assets of the Bank of Italy, its properties, tons of gold bullion (alone worth more than € 100 billion). http://wp.me/p2kXuA-xE
-The shares of the Bank of Italy that had to go to the State may be sold and will be sold to foreign entities agreed to by the Community.
HANDS ON THE BANK OF ITALY
“The government is putting its hands on the Bank of Italy to make yet another gift to the private banks, perhaps even foreign ones. And it does so by using the usual decree that has destroyed Parliament and dealing with something quite different: the final installment IMU 2013. The IMU decree is used to give away the Bank of Italy without the knowledge of the citizens. In the IMU decree, there are items that increase the value of the units of the Central Bank in the hands of private shareholders, namely the major banks, insurance companies, INPS and INAIL .
An arbitrary revaluation and increasingly contested actions by several parties has led to the amount of shares to be in the amount of 156 thousand euros (it was 1936) to 7.5 billion euro. Paid by the Bank of Italy, which will draw on its reserves, which are a public good because the profits of the Central Bank are obtained through their public functions as a monopoly. The banks will be guaranteed a dividend of 6 % (remuneration unmatched on the market with regard to risk free asset) and therefore pocketing up to 450 million euro profit of the Bank of Italy. Instead the State will change. In addition, no one may hold more than 3%, while today there are banking groups that have much higher odds (only Intesa and Unicredit together hold 64 %), so many actions will be back on the ballot. Unfortunately people could end entities controlled by foreign banks. The risk is yet another blow to our economic sovereignty.
The assets of the Bank of Italy, its properties, tons of gold bullion match feature-FIXING GOLD / http://wp.me/p2kXuA-xE (alone worth more than 100 billion euro), the hundreds billions of euro derived from the printing of banknotes and coins are the Italians because they are the result of over a century of public activity of the Bank of Italy! The banks and private insurance companies have never pulled out a single euro to buy the Bank of Italy, and therefore have no rights to the Bank of Italy!
STORY OF A FORMER EMPLOYEE:
Lucio Gaetano, a former employee of the Bank of Italy explains his experience and background.
“The shares of the Bank of Italy that had to go to the State may be sold and will be sold to foreign entities provided by the Community. In short, we live in a country today that has little in the European system of central banks, imagine what will count if its central bank are to be owned by foreigners! ” Lucio Di Gaetano
That’s the word of mouth of Lucio Gaetano, a former employee Bank of Italy.
I am Lucio Di Gaetano, in my lifetime, I have always dealt with banks, for five years I worked in the Bank of Italy, for seven more I worked in the private sector, and now I’m a company consultant.
Today I’m here to tell you about the rip-off that the Letta government, done secretly, while declaring the forfeiture of Berlusconi which was done to the detriment of all Italians, through the Decree on the revaluation of the shares of the Bank of Italy, to have 900 million euro without breaking three percent of the deficit. They will provide 450 per year to the shareholders of the Bank of Italy, which as you know are private.
But let’s step back, because the Bank of Italy has private shareholders in governance? Why do we have this situation from the world of Oz, where a public institution is governed by public laws and have private banks participating in their governance that are owned by foundations and controlled by the parties?
The Bank of Italy was founded in 1893 and is fully owned by private shareholders, at the time this was widely accepted. In 1926, the fascist government spread and expropriates the publicity and its shareholders. Subsequently, the shares of the Bank of Italy are sold to banks, meanwhile publicized because of the crisis of the1930’s. In 1993, as a result of the financial crisis, the Amato Government conceives a legal monster, the privatization of Italian banks through the allocation of their controlling shares to foundations appointed by the political parties. The bulk of the share is quoted on the stock exchange and resulting today that we are shareholders of the Bank of Italy, banks acting with the logic of private entities. Fortunately, the monster in the past has been somewhat limited, why? Because the distribution of the profits of the Bank of Italy. it has always been reserved minimally to its private shareholders, not more than 0.5 per cent of the reserves, totally roughly 22 billion euros. So good and bad years did not permit shareholders to take more than 50-70 million per year from the capital of the Bank of Italy, which has not moved from the original figure of 156 thousand Euros which it had been valued.
A LAW unapplied 262/2005:
In 2005, the Berlusconi government made a law they claim is correct and establishes that the shares in the capital of the gold-bank-England-Italy held by non-public entities should pass the state within three years. Eight years have passed and the law has never been implemented … On the night of November 27, while Parliament declares the decline of Berlusconi, all citizens are distracted, Saccomanni makes a dramatic reversal, with a decree that states that the Bank of Italy will no longer be destined to become a public institution owned by the State, but a public company, or a company with widespread shares and shareholders common with private ownership.
In addition, the capital in the Bank of Italy would increase from 156 000 euros to 7.5 billion euros, with a strong financial advantage for all participants, who will then be obliged to pay a tax of more than 12%, and then will have to perform the obligation to sell their stake exceeding 5% may be held, yet with a strong gain.
And now back to the rip-off that we spoke of at the beginning. The most important thing is that to date the Bank of Italy cannot deliver a profit that exceeds 10% of the current capital share of 156 thousand euros plus a share of the reserves, a practice that does not exceed 0.5 percent annually. In the draft of the Letta Government project, this limit is raised to 6% of the new capital of 7.5 billion Euros, namely more than 450 million distributable income per year.
This is not a minor thing, because if the big bankers can raise a toast in Champaign, citizens have nothing to celebrate! Those 450 million, if they were not given to private bankers, would go straight into the coffers of the State. It has been so up until now. But it does not stop here, in fact, the end is worse than the beginning, because another incredible novelty of this magnificent project is that the shares of the Bank of Italy that had to go to the State may be sold and will be sold to foreign entities provided the Community agrees.
In short, today we live in a country with little in the European system of central banks, imagine what will count if its central bank were to be owned by foreigners!!!
The Minister of Economy and Finance of the Letta Government is a banker, bankers chose to represent them, and with this Decree Law will give the Bank of Italy and its heritage, hundreds of billions of Euros to the bankers who have chosen it. The Decree Law 133 is unconstitutional, it is against the law 262 (2005), and goes against the public nature of the Bank of Italy, as well as against the interest of the Italians to promote the interests of private bankers and private insurance. Both Italian and foreign have chosen Saccomanni first as General Manager of the Bank of Italy and then as Minister of Economy of the Letta Government. Fabrizio Saccomanni has never been elected and for decades has been at the top of the Italian banking system and international banking. For this, Fabrizio Saccomanni can no longer be the Minister of Economy and should not be allowed to give the Bank of Italy to his banker friends.