The war of the rich against the poor

They asked me to participate in Trento, in a round table with a very interesting title " A class struggle fought by the rich
against the middle classes and proletarians. The economy at the service of the globalist oligarchy”.

The title is even reductive of the problem, because few realize that for years we have been unaware protagonists of a war of the rich against us, for the sole purpose of exercising a power of control that produces an exponential enrichment of a few compared to the rest of the world. 'humanity.

Unfortunately they are winning the war, but we have a very real hope of winning it ourselves, because their power has feet of clay, being fundamentally based on financial waste paper.

But we absolutely must become aware and unite against the common enemy.

THEY WON'T GIVE UP EASILY,
but WE will NEVER give up.

In the video above you will find the full speech, below is the written one.

Speech by Fabio Conditi, President of Moneta Positiva, at the 1st National TV Vision Festival in Trento on 17 September 2023.

I'm Fabio Conditi, I'm the President in Positive Money. I have to give you some very bad news and some wonderful news. The bad news is that the rich are winning the class war. The good news is that we have hope of winning it too, but we need to change the paradigm. We are like this child, happy to start producing our own GDP, the Gross Domestic Product. The problem is that he is unaware that we have given him a life where he will have to repay a public debt and a private debt that he did not create, but which he will have to pay for his entire life. So what is the problem? This enormous debt arises from the fact that when we produce GDP, all the nations of the world currently produce 100,000 billion dollars of GDP in a year. In reality at the same time we have generated a debt that is three times as much, 300,000 billion dollars. This debt is held by the financial markets. The rich population that works on the financial markets is less than one percent of the world population that in this way subtracts resources, because if I take interest on 300,000 billion dollars without doing anything, with money that I created from nothing, obviously I I enrich. The reality is that the distribution of wealth is becoming increasingly unequal, 1% of the world's population owns 50% of the world's wealth, while the poorest 50% of the population owns 1%. We have reached the absurd point that half of the poorest population, 3 billion 800 million people, have the same wealth as 81 multi-billionaires… Do you think we can go on like this? They won the war, gentlemen.

This is the map of the world, they tell us that debt means being poor. It is not true. This is the map of the most indebted countries in the world, they are all rich, they are the red ones, so there is a close relationship between money and debt: the more wealth there is, the more debt there is. And now we will try to explain why. Who creates money today? Nobody asks this question. Money is created by the state through coins, which is debt-free money, the only debt-free money we use, but it only creates 0.3% of all the money we use. Then the ECB creates 6.7% of banknotes, but does not give them to us, it lends them to the banking sector, which uses them as underlying assets to create all the electronic money that we are using. But there is a problem gentlemen, all the money we use is created with loans, that is, they lend it to us but we have to pay it back with interest. We are talking about 99.7% of all the money we use. What is the consequence of a system in which all money is generated by loans? It's as if you had a body where the blood, instead of being produced by the body itself, is lent by an external bank and has to pay it back with interest… what happens to that body? This is the end we are facing. [Applause]

This is the economic system, we have a public sector and a private sector, which need money to exchange goods and services. However, since all the money is lent to us by the banking sector or by the financial markets, but we have to pay it back with interest, gentlemen, debt is an inevitable condition of our society, debt is mathematically inextinguishable, because if in an economic system, I I'm the only one who creates the money, I lend him a hundred and I expect him to give me back 105, the fives don't exist and therefore I can only have an exponential growth of public debt or private debt or both, as is happening at the moment. The only solution, as I told you before, is to change the paradigm. The money cannot be created by private individuals, who lend it to us but we must return it to them with interest, we must create the money, that is, there must be a State which, in the name of the citizens, creates the money, spends it in the economy, the economy does not lend it, it spends this currency, at which point it circulates freely and will be withdrawn by the State itself through taxes. You know that every time we make an exchange, the State takes a part of it. But if we want society to get rich, the money created must be greater than that withdrawn with taxes, because otherwise we will become impoverished as is happening today. I was telling you the good news is that we all think we can't do it anymore, but that's not the case. If we look at our Constitution, article 1, sovereignty belongs to the people, therefore it belongs neither to the government nor to the institutions, it belongs to us. Then there is article 117, which among other things was changed with a constitutional law in 2001, when we had already signed the European Treaties and the Euro, which expressly says that the exclusive competence in matters of money and taxes lies with the State . Therefore, since fiscal sovereignty is closely linked to monetary sovereignty, since the state still has fiscal sovereignty and still has monetary sovereignty, it can always create instruments and spend them in the economy, which then withdraws them through taxes. This is the mechanism that is still possible. However, we must solve a problem, which is a problem of political will. In the meantime, we need to clarify that it is not just us who say this, because if you go to the Bank of Italy's website, on the page dedicated to seigniorage, the Bank of Italy writes: " seignorage is perceived today primarily by the Central Bank European Union, which however then passes it on to the states, the ultimate holders of monetary sovereignty ." But then, if we have monetary sovereignty, why the fuck do we borrow money?

I'll just quickly tell you what tools the State can do tomorrow morning. The only instrument that the State cannot create are banknotes, because according to article 128 of the Treaty on the Functioning of the European Union, the exclusive competence lies with the European Central Bank. But the State can create metal coins as it is doing now, and I'll give you some news, it can also do it with 5, 10, 20 and 50 euro coins, Germany has been doing it for many years, Austria, Finland, it's right that we do it too. Then the State can still make state notes, because state notes are the paper version of metal coins, then the State can make electronic banking money, if it had public banks like Germany, which has more than 50% of the banking sector which is public, then the State can make tax credits for the superbonus, which was the only fiscal currency ever created by a state in the entire history of humanity, so we were the first like when we invented banks in 1300 In recent years we have invented fiscal currency, which among other things the government surreptitiously blocked, but in reality we managed to have it included in the rules of the Treaties. So in the European Treaties it now says that fiscal currency is possible. Lastly are the savings accounts, but I don't have time to describe them to you. " Saying that a state doesn't have the money to build a hospital is like saying that an engineer doesn't have the kilometers to build roads ." We are at the level of absolute madness. [Applause]

The war is between the richest 1% of the population and the poorest 99% of the population. They are winning it, gentlemen, for two fundamental reasons. The first because they create money and with debt they manage and control politics, information and universities, any sector of the economy and society. The other bad news is that unfortunately we are divided on everything, we divide ourselves into ideologies and ideas, in anything, in Italy we are capable of creating a small group and dividing it or breaking it into a thousand pieces, because unfortunately the human race is like that . But we also lack the awareness of what money is and why they are managing it, when we should be managing it. The good news is that, if 99% unite and become aware, there is none for anyone, so we can still win the war. I close with a phrase that we always say: " Never doubt that a small group of citizens, like us, aware and resolute can change the world, because in reality it has always and only been them who have changed it ". Thank you.

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The article The war of the rich against the poor comes from Economic Scenarios .

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This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/la-guerra-dei-ricchi-contro-i-poveri/ on Thu, 21 Sep 2023 12:00:10 +0000.