Let’s try to understand why i Governments in Europe they still need to keep the peoples in terror to exploit the health emergency while at the same time fear a new one lockdown. They fear him because the Italians began to ask themselves questions during the general closure.
In fact, if they tell you that there is no money for public spending in times of normality, no one asks questions. If, on the other hand, they tell you that states should have been deprived of the ability to print money because they could have wasted resources and created inflation, this assumption – although partially false – can have a certain appeal on public opinion, especially if media e i politicians every day they demonize state spending and public debt as the root of all evil.
But if these arguments are used during a planetary #pandemic with peoples closed at home, with companies closed, with unsold goods on the shelves, then these assumptions lose all credibility. How can one justify the fact that although central banks that can create money out of thin air (such as the ECB) do not create all the money needed to secure citizens? Mario Draghi he said it in unsuspecting times: “The ECB can never run out of money because it creates it, so it could potentially cope with any emergency“.
Well, what do they want to tell us then? That the pandemic is not such an emergency as to force the Central Bank to meet every expense? Why should states use loans like MY e Recovery Fund, if the ECB – as it has partially begun to do – can buy the bonds of states with zero interest in an unlimited way, also being able to decide to put those bonds in perennial quarantine without losing anything?
They say they have unlimited resources: why do they limit them? Why do they oblige states and citizens to access loans? There is no longer any excuse to prevent the Central Bank from becoming the Central Bank and facing all the necessary expenses.
The European Matrix – With Francesco Amodeo
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