markets

IT IS THE CENTRAL BANKS THAT DETERMINE THE COST OF THE DEBT AND NOT THE MARKETS

10 October 2018 by admin

Reporting of Pietro Ferrari
HERE IS THE DEMONSTRATION
Of First Gonzaga
( Savona is right. Without ECB reform any effort is in vain)
Two very simple considerations whose consequences have fundamental importance in the economy of the EU states and in this case, of Italy and Germany .
Microeconomic level: an investor who buys German 10-year Bunds (they are the equivalent of the BTP) every have loses approx 1,5 % of its capital. In fact it has a yield of 0,5% but inflation in Germany is at 2% and therefore has a negative real return. On the contrary, an investor who buys a ten-year BTP today earns approximately 1,4% annual. In fact the BTP pays the 2,972% of interest but inflation in Italy and the 1.6% . In this case the real return is positive.
Macroeconomic level: At the state level, obviously the reasoning is reversed, the German state sees its debt reduce every year due to the negative differential between interest rates and inflation. The Italian State on the contrary, having to pay a positive real interest, sees its debt grow inexorably. Read More

Actuality | CLEAN HANDS

The Nazzareno plot starts in September

31 July 2018 by admin

Image results for Covenant of the Nazarene Of Maurizio Blondet
“Within a few months this government will end”, Silvio prophesied to his parliamentary remnants gathered in Montecitorio. Change the name of the party, it will now be called “Altra Italia”. “A new beginning awaits us!”, he reassured them. Where does he get so much optimism from?, with his 8 little percent left? The point is that Matteo Renzi said the same thing: “Salvini? It will not stand up to political and judicial pressure.", to his, in circumstances frighteningly similar to that of Berlusconi: he gathered his people in a Roman restaurant to revive them. «Enough whining. We have no reason to be discouraged. The government will fall soon. We have to be ready.".
http://tg.la7.it/politica/berlusconi-profetizza-questo-governo-dura-poco-conte-mediocre-26-07-2018-129888
http://www.dagospia.com/rubrica-3/politica/ldquo-teniamoci-pronti-caso-soldi-lega-esplodera-rdquo-179762.htm
Ready for what? In Rome, city that "knows everything and keeps silent" (said Tacitus), Many people seem to be aware of the conspiracy, that the rumors are faithfully taken up by Dagospia. Who defined what the Florentine Piddino tweeted as "a little prank" from Renzi: «A sentence – he wrote – says that the League must repay 49 millions to Italians. Salvini said that he, minister and leader of the League, He doesn't intend to do it. His, Minister of Legality, announces that he will not follow the sentence requiring him to return the money. We are at the most brazen illegality. And he doesn't answer. Salvini announces, but he doesn't answer". Read More

National Economy | Policy

Message from Minister Paolo Savona to Confindustria

29 June 2018 by admin

Image results for Minister Paolo Savona of the Minister for European Affairs Paolo Savona

Signor President of Confindustria, Lord and Gentlemen,

the date of 27 June, day before the Council of Europe, has proven to be an obstacle to fulfilling my commitment to attend this meeting. At this very moment I am in the Chamber to gather the will of the Deputies on the position that the Government, through its President, will take over at the next summit of 28-29.

Nonetheless, I want it to come to this meeting, together with my apologies for the involuntary absence, a short message from me.

1° The Chapter 2 of the Report on “How and why to strengthen Europe” is the best most recent analysis I have read on the subject. I feared that this topic could not even be discussed in Italy and reading the document reassured me and encouraged me to address the problems under discussion in Brussels by leaving the ccontingent and framing them in the need and urgency of changes in institutional architecturealand dell’EU. Congratulations therefore to the authors of the Chapter and to the Presidency who wanted this meeting-debate.

2° The first, the third and fourth blocks of theIntroduction contain a summary of the contents of the European matters waiting to be regulated. They are therefore an excellent agenda of the choices that must be made. Obviously it doesn't mean that I agree with all the initiatives proposed as a solution, but if we agree on the objectives, an agreement can be found on the technical tools. Read More

Actuality | Non-fiction

Stop Italy, I want to go down

4 June 2018 by admin

Of Roberto Pecchioli

Source: Heretically
Stop Italy, I want to go down. One of the problems, getting older, it is no longer being able to understand what we see. The codes to decipher the new reality slip out of our hands, one feels like a stranger, inadequate and we end up withdrawing into ourselves. If "they" see it, we remain spectators of events that happen despite us and of which we are unable to identify the meaning or direction. How to watch a Bengali film in the original language. This is why so many of us want to come down.
Little Italy has become Italiaccia. For a couple of days we had three governments. The one in charge "for the handling of current affairs", as the bombastic and subtly humorous formula of the official protocol states, that of “the president” by Carlo Cottarelli, official of the International Monetary Fund, as well as the one unwelcome to all oligarchies, led by Professor Conte with the participation of the sinister Bolshevik, fascist and anti-European Paolo Savona. The Jesuit training of the head of state made it possible to resurrect a theological category that had fallen into oblivion, that of sins committed with thoughts, parole, works and omissions. The trial of the intentions of the diabolical octogenarian Savona, ready to exit the euro 48 net hours (?!) however, it allowed Italians to see more clearly.
The good Mattarella presented himself to the people to claim the stop in Savona in the name of the Markets, revealing – holy naivety – who is the guarantor and president. The European Commissioner with a German passport, HerrOettinger, he too was struck by an attack of sincerity, he growled that the Markets will take care of it (always with a capital letter!) to teach the Italians, small, neri, dirty and stinking to vote properly. Even Juncker, perhaps betrayed by the Belgian beer, he revealed opening words how annoyed the inhabitants of the country are, slackers, maintained, corrupt (very true, but in crowded company) and many other things. Read More

Actuality | Policy

L'aiutino americano al governo populista

2 June 2018 by admin

The famous "markets" voted pro

and Claudio Antonelli on “The truth”:

“Tuesday evening, Wednesday and yesterday too. The large American funds have started massive purchases of Italian government bonds. The "buy" was initially triggered by the algorithms that read the breach of the downward threshold and activated the automatic operations.

Bridgewater, Aqr, Glg e Ahl I'm in the front row, but to swell the group, after the outposts, Of Citi e Jp Morgan, they started yesterday Blackrock, Pimco, Prudential e Dodge & Cox.

All funds ready to enter phase two of purchases: wait for volatility to stabilize downwards to plunder titles at discounted prices.

Who they work for, especially investment banks such as Citi and JP Morgan, it is not known.

They are in fact primary dealers who act on behalf of third parties.

American pension funds are certainly interested in our depreciated debt, but also the English ones. The first effect of the massive American entry was to balance yields and mitigate the trend of the spread on the German bund downwards.