mercoledì 8 luglio 2009

Omaggio a Ezra Pound

Lug 09 7
Omaggio a Ezra Pound
Pubblicato da Domenico De Simone

Omaggio a Ezra Pound , forse il più grande poeta del '900 e uno dei padri fondatori del pensiero contro l'usura delle Banche e contro la mentalità ecomicista, che sottopone i valori umani al denaro.

Ho messo prima il testo in inglese e poi la traduzione in italiano.La poesia è tratta dal Canto LXV e si intitola Contro l'Usura.

Canto LXV

With usura hath no man a house of good stone
each block cut smooth and well fitting
that delight might cover their face,

with usura

hath no man a painted paradise on his church wall
harpes et luthes
or where virgin receiveth message
and halo projects from incision,

with usura

seeth no man Gonzaga his heirs and his concubines
no picture is made to endure nor to live with
but it is made to sell and sell quickly

with usura, sin against nature,
is thy bread ever more of stale rags
is thy bread dry as paper,
with no mountain wheat, no strong flour

with usura the line grows thick

with usura is no clear demarcation
and no man can find site for his dwelling
Stone cutter is kept from his stone
weaver is kept from his loom


wool comes not to market
sheep bringeth no gain with usura
Usura is a murrain, usura
blunteth the needle in the the maid's hand
and stoppeth the spinner's cunning. Pietro Lombardo
came not by usura
Duccio came not by usura
nor Pier della Francesca; Zuan Bellin' not by usura
nor was "La Callunia" painted.
Came not by usura Angelico; came not Ambrogio Praedis,
No church of cut stone signed: Adamo me fecit.
Not by usura St. Trophime

Not by usura St. Hilaire,

Usura rusteth the chisel
It rusteth the craft and the craftsman
It gnaweth the thread in the loom
None learneth to weave gold in her pattern;
Azure hath a canker by usura; cramoisi is unbroidered
Emerald findeth no Memling

Usura slayeth the child in the womb
It stayeth the young man's courting
It hath brought palsey to bed, lyeth
between the young bride and her bridegroom


They have brought whores for Eleusis
Corpses are set to banquet

at behest of usura.



Con usura nessuno ha una solida casa
di pietra squadrata e liscia
per istoriarne la facciata,
con usura
non v'è chiesa con affreschi di paradiso
harpes et luz
e l'Annunciazione dell'Angelo
con le aureole sbalzate,
con usura
nessuno vede dei Gonzaga eredi e concubine
non si dipinge per tenersi arte
in casa ma per vendere e vendere
presto e con profitto, peccato contro natura,
il tuo pane sarà staccio vieto
arido come carta,
senza segala né farina di grano duro,
usura appesantisce il tratto,
falsa i confini, con usura
nessuno trova residenza amena.
Si priva lo scalpellino della pietra,
il tessitore del telaio
la lana non giunge al mercato
e le pecore non rendono
peggio della peste è l'usura, spunta
l'ago in mano alle fanciulle
e confonde chi fila. Pietro Lombardo
non si fe' con usura
Duccio non si fe' con usura
nè Piero della Francesca o Zuan Bellini
nè fu "La Calunnia" dipinta con usura.
L'Angelico non si fe' con usura, nè Ambrogio de Praedis,
nessuna chiesa di pietra viva firmata :"Adamo me fecit".
Con usura non sorsero
Saint Trophine e Saint Hilaire,
usura arrugginisce il cesello
arrugginisce arte ed artigiano
tarla la tela nel telaio, nessuno
apprende l 'arte d'intessere oro nell'ordito;
l'azzurro s'incancrena con usura; non si ricama
in cremisi, smeraldo non trova il suo Memling
usura soffoca il figlio nel ventre
arresta il giovane amante
cede il letto a vecchi decrepiti,
si frappone tra giovani sposi
Ad Eleusi han portato puttane
carogne crapulano
ospiti d'usura.

Bartering for Health Care

Kaiser Health News Reports On Bartering for Health Care

By Rochelle Sharpe

(This article shows the valuable health care services trade exchanges offer their clients.)

With no health insurance and little money, Gilberto Carrasco, a Reno (NV) auto mechanic, didn't see much point in getting a physical. At 50, he felt healthy and couldn’t afford treatment even if a doctor found a medical problem.

But then his girlfriend, Eren Hernandez, figured out a way to get Carrasco a free checkup. She found a family physician who was willing to barter his services. During the physical, the doctor discovered that Carrasco had prostate cancer, catching it before the disease had spread. “We couldn’t have afforded Carrasco’s examination,” said Hernandez, who also uses bartering to get extensive medical and dental care for other family members.

With the economy in recession and many people strapped for cash, bartering of various kinds has increased. But now health care is surpassing auto repair and advertising as the service in most demand, say people who run local barter exchanges.

Alan Zimmelman, a spokesman for ITEX Corporation, the largest network of barter exchanges in North America, says in the past two years the demand for health care has jumped by more than 20%. The company has 551 physicians and 618 dentists who participate in its 100 local barter groups.

Barter is little more than a stopgap solution for the uninsured. But with doctors, dentists, psychiatrists, chiropractors and even cosmetic surgeons offering their services, bartering is providing a temporary safety net of sorts for some workers who have lost their jobs and health coverage. And in some cases, people who have inadequate insurance are using barter to get critical services, such as dental and vision benefits.

There are two main types of bartering: direct and indirect. In the former, people engage in direct trades of goods and services without using money. In the latter, small-business owners and individuals accumulate credits, or barter dollars, by providing specific products and services. Those barter dollars can be used to buy the services of any other network member. That way, a barber with a toothache can barter for dental work, without having to find a dentist who wants a haircut.

Many of these exchanges are designed for small business owners seeking to conserve cash. “Nearly 400,000 businesses participate in about 500 trade exchanges in the United States,” reported Ron Whitney, executive director of the International Reciprocal Trade Association, which promotes the barter industry.

In Carrasco’s case, he used barter dollars to buy the services of Quinn Pauly, a 44-year-old family physician who joined the barter network six years ago to expand his practice. Like most doctors who participate in exchanges, he accepts barter dollars only for his services, not for lab tests or hospital expenses. Pauly said he prefers being paid in cash, and now has plenty of paying patients. But he continues to participate in the trade exchange. “I wasn’t going to fire my patients who see me with barter,” he explained.

Debbie Lombardi, president of Barter Business Unlimited in Bristol (CN), said she's fielding about 20 calls a day from members seeking medical help, compared to just occasional calls in past years. During the past six months, she pointed our that nearly every person wanting to join her group has been looking for health care. One man recently brought his Harley Davidson to Lombardi’s office, hoping to trade it for orthodontia treatment for his daughter.

“People want to keep their standard of care up, even if they can’t afford it,” she noted; adding that she has helped people get dental implants, Lasik surgery, even the services of an obstetrician to deliver twins. “In some cases, we’re their only health insurance.”

“In North Carolina, one woman bartered for more than $200,000 of medical care in hopes of finding a cure for her fibromyalgia,” said Maurya Lane, president of the Barter Business Exchange Inc., in Cary. “At one point,” Lane said, “the woman gave her chiropractor a $10,000 laser, which he then used to treat her.”

One of the doctor’s in Lane’s group is Ellen Gray, a psychiatrist in Chapel Hill, who like many physicians joined the local barter exchange to get more business referrals. But now, she feels she’s doing her part “to expand access to therapy both for people who don’t have insurance as well as for those who don’t want their insurance companies to know they are struggling with mental-health issues. Plus, I just like the idea that people are taking matters into their own hands,” she said.

Many doctors, including Gray, will participate only in indirect barter (trade exchanges), which typically charge members 6% fees on all purchases and sales. She thinks direct barter violates medical ethics because doctor-patient relationships should focus only on healing. She said she would never want a patient who had cleaned her carpets to think he was getting substandard care because the carpets still looked dirty.

The American Medical Association has no specific policy on bartering, but supports doctors’ freedom to choose how they want to be paid, a spokesman said. The government only bars doctors from bartering for more than the cash value of their services from Medicare, the federal program for the elderly, and Medicaid, the state-federal program for the poor and disabled. Anyone who barters more than $600 in goods and services a year must pay taxes on the transactions.

Direct bartering is conducted mostly on Web sites. A dentist in Washington (DC), used Craigslist this past winter to offer his services in exchange for tickets to President Barack Obama’s inauguration. This spring, Peter Fountain, 50, of East Norton (PA), posted a plea on Craigslist for a surgeon to remove a cataract. “I will paint your house, refinish your antiques, anything in the general maintenance field,” he wrote. “I need to regain my vision in order to provide my employer with the skills I have.”

Fountain, who works as a maintenance superintendent at the Western Union building in Philadelphia, said no one has responded. “I figured a lot of people considered it a joke,” he said.

Last fall, Zeo Solomon helped launch a new direct-barter Web site called Favorpals which has already had several successful health care exchanges. A dermatologist did a checkup in exchange for having his office cleaned; a psychiatrist saw someone a few times in exchange for help on a Web site design, and a family doctor conducted a physical in exchange for pastries from a famous New York bakery. “More than 20% of the 10,000 people who joined the barter site were seeking or offering health care,” Solomon said.

Direct barter appears to be most common in rural areas and in the South. In Cambridge (VT), Deb Richter, a primary-care doctor, said that she and her colleagues only barter with a few patients at any given time, and that what they receive in trade rarely comes close to compensating them for their work. “This is our way to make life a little nicer and increase community spirit,” said Richter, whose medical practice is the only one in a 25-mile radius. She has received vegetables, cords of wood and lots of pies in trade for medical services. She has also swapped Viagra samples for maple syrup.

Strengthening communities is the focus of another kind of exchange system, called time banking, developed in 1980 by Edgar Cahn, a law professor at the University of the District of Columbia law school. In these groups, people trade their time rather than the cash-equivalent of goods or services. With everyone's time considered of equal value, one hour of medical care is equivalent to one hour of painting.

Dozens of time banks operate across the country, with many offering extensive health-related services, ranging from exercise classes to medical appointments to help getting to the doctor. At Hour Exchange in Portland, Maine, which has 171 medical practitioners, more than one-fourth of the 20,000 hours that were exchanged last year related to health care, according to member Lesley Jones.

A few hospitals, meanwhile, have devised exchange programs of their own. At Woodhull Hospital in Brooklyn, artists without health insurance earn credits toward free care if they perform or work with patients and staff. More than 400 people, including former Broadway actors, have participated in Artist Access since it began in 2005, painting murals on walls, drawing with sick children, and coaching medical residents on breaking bad news to patients.

At Franklin Memorial Hospital in Farmington, Maine, indigent patients can work off their bills by doing volunteer work. If the patients are too ill, friends or relatives can do the volunteer work for them. Valerie Taylor, 67, tried to pay off her $13,000 bill for colon surgery a few years ago. But, because she had to retire early due to health problems, she could only pay the hospital $50 a month.

She joined the hospital’s Contract for Care program, performing about 300 hours of administrative chores over the course of a year and worked off her bill. “People do want to pay their own way, and sometimes circumstances prevent that,” she said.

Silver manipulation: This may be the last time

Ted Butler: This may be the last time


4:10p ET Tuesday, July 7, 2009

Dear Friend of GATA and Gold (and Silver):

Silver market analyst Ted Butler reports that the concentration in the silver futures market has gotten so extreme and so much attention has been called to it that there is reason to think that the manipulative price suppression is almost finished. Butler's new commentary is headlined "This May Be the Last Time" and you can find it at GoldSeek's companion site, SilverSeek, here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

GATA urges SEC, CFTC to probe Goldman

GATA urges SEC, CFTC to probe Goldman trading program


4:37p ET Tuesday, July 7, 2009

Dear Friend of GATA and Gold:

GATA today urged the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission to investigate the Goldman Sachs Group Inc. computer trading program that, according to a federal prosecutor, the bank acknowledges can be used to manipulate markets.

GATA's complaint referred to the Bloomberg News story dispatched to you yesterday --

-- reporting the arraignment in U.S. District Court in New York of a former Goldman Sachs employee accused of stealing the program. The prosecutor, Assistant U.S. Attorney Joseph Facciponti, was quoted as telling the court: "The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways."

In letters to the SEC and CFTC, GATA wrote: "The assistant U.S. attorney's comment can be construed to suggest Goldman Sachs considers its own manipulation of markets to be fair, while such manipulation by others would be unfair. The court proceeding described in the Bloomberg News story would seem to impugn all markets in which Goldman Sachs trades."

GATA asked each commission "to investigate Goldman Sachs' trading program urgently and report its findings publicly."

The text of GATA's letters is appended.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

We Should Audit the Fed

Ron Paul Is Right! We Should Audit the Fed

Posted Jul 08, 2009 12:30pm EDT by Peter Gorenstein in Newsmakers, Banking

An amendment based on Congressman Ron Paul’s House bill to audit the Federal Reserves was blocked by the Senate this week on procedural grounds.

Speaking on the Senate floor, Republican Senator Jim DeMint and supporter of an audit said, "allowing the Fed to operate our nation's monetary system in almost complete secrecy leads to abuse, inflation and a lower quality of life."

Charles Ortel, managing director with Newport Value Partners, an independent research firm, agrees. "Transparency is the key to any market," he says, noting the Fed doesn't mark-to-market its assets, much of it now consisting of the worst toxic debt Wall Street had to offer.

In truth, the Fed doesn't work in complete secrecy - they do release a weekly update which details the size and type of assets on its balance sheet. According to the latest report, the Fed’s balance sheet shrunk to $1.989 trillion, falling below $2 trillion for the first time since March.

And Bernanke backers are inclined to say, give the Fed a break. Those supporters including, Warren Buffett, claim the Fed’s action saved the U.S. from an even greater economic catastrophe.

But Ortel isn’t buying it: "We are well into a major crisis of confidence... those with major league exposure to the dollar and U.S. companies are quietly reducing that exposure," he claims.

If one looks at recent U.S. Treasury auctions, appetite for U.S. debt remains relatively strong. But Ortel says the smart money has little confidence in the future of the U.S. and is instead buying gold and other hard assets.

H.R. 1207: Federal Reserve Transparency Act

H.R. 1207: Federal Reserve Transparency Act of 2009

Posted by dbrink on 07/08/09 6:10 PM

An Open Letter to Congressman John Yarmuth

Dear Congressman Yarmuth:

A bill was submitted in the U.S House of Representatives, on February 26th, 2009, H.R. 1207: Federal Reserve Transparency Act of 2009. The proposed bill directs the Comptroller General of the U.S. Government Accounting Office (GAO) to complete, before the end of 2010, an audit of the Board of Governors of the Federal Reserve System and of the Federal Reserve Banks, followed by a detailed report to Congress.

As of the writing of this letter, 249 members (57%) of the U.S. House of Representatives have cosponsored this bill, including four (4) U.S. Representatives from Kentucky, not including you. Seeing that you were a begrudging supporter of the Emergency Economic Stabilization Act of 2008, which enacted the Troubled Asset Relief Program (TARP) commonly referred to as a "bailout" of the U.S. financial system, certainly you can see the need for full audit capability of the Federal Reserve System.

A poll commissioned in May by National Media Inc, revealed that only 31% of U.S. Taxpayers agree that the TARP investments were a good idea. What concerns me even more, and a lot of people I talk with, are some of the comments made in recent testimony from the Federal Reserve Chairman and Inspector General to Congress.

First, the Inspector General for the Board of Governors of the Federal Reserve System, Elizabeth A. Coleman, was asked if she could account for 9 trillion dollars in off-balance sheet transactions, plus an additional 1.2 trillion dollars expansion of the Fed's balance sheet since last September. She indicated that a review had not been conducted at that point in time and further stated, "We do not have jurisdiction to directly go out and audit reserve bank activities specifically."

Second, Federal Reserve Chairman, Ben Bernanke, said on May 5th, 2009 before the Joint Economic Committee, "I certainly would resist any attempt to dictate to the Federal Reserve how to make monetary policy." The Fed has unchecked control of the monetary policy and those actions affect prices, employment, and economic growth by influencing the availability and cost of money and credit in the economy. This is exactly why the system of checks and balances was established and why it needs to be enforced.

On May 20th 2009, President Obama signed into law a "Fed clause" giving the GAO the "power to examine the Federal Reserve's emergency aid to specific companies, such as AIG, Bank of America Corp. and Citigroup Inc." But, that is not enough. A full GAO audit of the Federal Reserve Board of Governors and the Federal Reserve Banks needs to be conducted.

As a U.S. Taxpayer, a resident of Commonwealth of Kentucky and specifically as a constituent of United States House of Representatives, Kentucky District 3, I urge you to cosponsor H.R. 1207: Federal Reserve Transparency Act of 2009.

Darren Brinksneader
Member at Large, Libertarian Party

Breaking News on Audit the Fed!

Breaking News on Audit the Fed!

Posted by Matt Hawes on 07/06/09 7:46 PM
Last updated 07/06/09 9:50 PM

[Newer: Ron Paul on Freedom Watch] [Older: "U.S. Lurching Towards 'Debt Explosion'"]

Today, our battle to pass Audit the Fed through the U.S. Senate has been joined. The first shot was fired on the floor of the Senate tonight by Senator Jim DeMint of South Carolina.

Senator DeMint has a well-deserved reputation for taking the battle to the other side in the Senate, and tonight he once again proved why he is such a valuable ally in our fight to bring transparency and accountability to the Federal Reserve.

Occasionally, a chance comes along to take quick action on a bill, and Senator DeMint took just such an opportunity.

A little while ago, the Senate voted to pass HR 2918, the Legislative Branch Appropriations Act. This $3.1 billion bill contains, among many other things, provisions for GAO audits on certain agencies.

With this in mind, Senator DeMint attached the full text of S 604, the Senate version of Ron Paul's Audit the Fed bill, to HR 2918 as Senate Amendment 1367 before it was considered for final passage.

However, Senate Democrats refused to even allow a vote on the amendment! Instead of giving it a chance to stand before the Senate, they swept it under the rug with a parliamentary tactic.

After Senator DeMint brought Audit the Fed to the floor, Senator Ben Nelson of Nebraska raised a "point of order" to prevent a vote, claiming that the amendment violated Senate Rule 16 by "legislating" on an appropriations bill. The Senate president agreed, and the amendment was shot down.

Senator DeMint did not back down, though, and directly challenged Senate leadership by pointing out the other GAO audits contained in the bill. As Senator DeMint listed them off, the Senate president was forced to agree with Senator DeMint that each one he described, all of which would be left in for final passage, also violated Senate Rule 16.

So the issue wasn't about "legislating" on the bill or violating the Senate Rules (which is commonly done), it was about preventing a thorough audit of the Federal Reserve for the first time in its history!

Senate leadership is hoping this issue will just fade away so they can get on to what they deem to be more important business, like dictating what kind of healthcare plan you and I can carry or passing destructive Cap-and-Trade legislation.

But the American people deserve answers on what the Fed has done with trillions of our tax dollars and what they are committing us and future generations to as part of their secret deals with foreign central banks and governments.

The leadership could have taken a crucial, historic step toward achieving such accountability today, but they turned their backs on transparency. This fight, though, is just beginning.

As Senator DeMint noted from the floor, the Audit the Fed bill has wide bipartisan support, and he rightly warned the Senate even if they delay today, they WILL have to deal with the issue on the floor.

It is up to you and me to back up Senator DeMint's words by making sure the momentum continues to build and the bill comes up for a final vote.

The rejection of the Audit amendment is just the first battle in our war. Now is the time to really put the pressure on the U.S. Senate to Audit the Fed!

Senator DeMint fired the opening salvo and showcased the hypocrisy of the Senate for allowing other GAO audits to be included in the bill while refusing to even allow a vote on Fed transparency.

Again, we're just getting started. Senator DeMint will keep fighting to pass Audit the Fed on its own or as an amendment, and we need to continue putting pressure on our senators to do everything in their power to achieve a floor vote! Visit our Audit the Fed action page to call, write, and fax your senators tonight and urge them to support S 604 and to push for a final vote.

Be sure as well to sign our online petition calling for action!

Update: (And check out Senator DeMint using our fact sheet on the Senate floor!)

A broken federal government

Activists on both the left and the right spotlight a broken federal government

By Claire Wolfe

On October 28, 2005, 400 citizens of Vermont met amid the pomp of their capitol building and voted to secede from the Union. The media, to say the least, was surprised. Those who noticed (which included CBS News and the Christian Science Monitor) treated the story as a novelty, only slightly more serious than the latest sighting of the Virgin Mary’s face in a Texas taco. But the vote was the first rumble of what could become a political and cultural earthquake. And Vermont isn’t the only state on the fault line. Other secessionist or state sovereignty movements are building from Hawaii to New Hampshire.

Millions of Americans perceive that the federal government is broken and might not be fixable. They view centralized power as heavy-handed, intrusive—and yet useless when it’s called upon for help, as in the aftermath of Hurricane Katrina.

Right or wrong, like them or not, state sovereignty activists say, “We have a solution.”

Their solution is radical local activism to restore power to citizens at the state level. They aim to make state laws that counteract federal ones. They hope to preserve local or regional cultures against homogenization. They’re all aiming for their idea of freedom—although often their concepts of freedom are diverse, to say the least.

Watch them: They may be the vanguard of a much larger movement of frustrated citizens who feel helpless to achieve their aims at the federal level but who aren’t willing to accept the status quo.

The Vermont meeting was a gathering of activists, not a session of the state legislature, so the secession vote has no legal force. The members of the Second Vermont Republic (SVR) consider it simply the first of many planned steps.

The SVR is “left-wing.” In addition to opposing big government, it also opposes “big business, big markets, and big agriculture” and what members see as a dreary, institutional sameness being imposed on the entire world.

But secession isn’t inherently left-wing. Secession is simply the separation of one political entity from another. And it’s just one of a number of related ideas now being actively promoted.

Next door to Vermont, for instance, the libertarian Free State Project (FSP) aims to encourage enough activists to move to New Hampshire to permanently alter that state’s politics. They want smaller government, a free-market economy, and the ability to “just say no” to the worst federal laws and bureaucratic policies. The FSP has already signed up 7,000 of a hoped-for 20,000 activists.

The FSP and the SVR arise from opposite ends of the political spectrum. They differ in tactics and goals. The FSP is not secessionist. But both groups share that key central concept: local activism to achieve aims that can’t be achieved at the federal level.

Other sovereignty movements have arisen in Hawaii, Wyoming, Montana, and Alaska, among other places. The group, Christian Exodus, aims to spark an en masse move to South Carolina. There, they hope to gain control of the legislature and run state government on religious principles.

Others would like to unite Canada’s western plains provinces to the USA’s western mountain states, pointing out that they have more in common with each other than with their respective eastern urban centers.

Some groups, like the FSP, are determined to work within the system. Even the most radical secessionist groups hope to “go in peace.” They want no trouble, just to be left alone.

“But isn’t secession illegal?” some object.

Actually, probably not.

The U.S. Constitution is silent on secession. But the 9th and 10th amendments make it clear that states have higher authority than the federal government in all but a few specified areas. Those same amendments proclaim that the people have rights, while the central government has only limited powers delegated to it by the states and the people. In other words, since the Constitution doesn’t say that states can’t secede, then naturally, say the organizers of the SVR and other secessionist groups, they can.

But of course, theory and practice are two different things. The last time American states tried to act on such a claim, the federal government overpowered them, with catastrophic loss of life on both sides.

Will the Second Vermont Republic—or any other regional independence movement—succeed? The example of 1861 sets a disastrous precedent for those who want the most radical solutions. On the other hand, the former Soviet republics more recently separated from Russia without war. And historically the boundaries of countries are ever-shifting.

It’s probably a long way to the first true secessionist vote. Possibly no such vote will ever be taken. But even if these projects don’t achieve their ultimate aims, they do succeed in bringing activists together. They shine much-needed light on deep national problems. They get people to think “outside the box.” Organizations like the SVR and the FSP could renew the cultural climate of their states and restore an independent spirit to parts of North America. That alone could be a worthy goal.

For more information:

  • The Second Vermont Republic, PO Box 1093, Montpelier, VT 05601,
  • The Free State Project, PO Box 1684, Keene, NH 03431, 1-888-532-4604,
  • The American Secession Project, (This is a web-only listing of many secession and free state projects.)

Deflation Hawks Pray for Inflation

Deflation Hawks Pray for Inflation


07/08/09 Tampa Bay, Florida

Just because I am safely and securely locked inside the Fabulous Mogambo Bunker (FMB) doesn’t mean that I am unaware of things, especially those things concerning inflation in consumer prices, which is the One Big Thing (OBT) to be feared above all others, even more than that paralyzing fear of someone seeing you doing you-know-what, especially when they see you doing you-know-what with you-know-who and the can of whipped cream, which you never did use, which is the one saving grace about the whole thing.

Anyway, I keep hearing some doofus or another prattling on and on about deflation, and how prices will be going down and how this is a terrible idea, sort of like saying, “Shopping during a sale means you will pay lower prices, and that is bad for you!”

Actually, it is not the falling prices that are bad, but that the falling prices means that producers are losing money, which means that some, many, or most of them will go out of business, firing everybody, wiping out investors, thereby reducing supply until it meets the level of demand.

Actually, the deflation-hawks say that this falling of prices is so bad, so terribly bad, that we should fall to our knees and pray that prices rise, which really scares the hell out of me because I have read a lot of things in two main categories in my life: Hate mail and economics tracts, and they have one thing in common, which is that in neither do you ever read something as stupid as advocating inflation in consumer prices.

In fact, most of theoretical economics is actually dedicated to preventing inflation in consumer prices and what to do if inflation appears! Hahaha! What a kick in the head, huh? Hahaha!

And my paranoid panic about inflation is because inflation in consumer prices is what destroys countries because the people rebel against starvation and deprivation when they can no longer afford food and energy, and it destroys families because somebody (like, for instance, the father) finally, one day, just snaps at the constant demands from his, for example, wife and, for example, kids, who are all persistently yammering yammering yammering about how they have to have you give them more money, always more and more money, just because, “things cost more and more” like I can just wave a magic wand to make money appear in my wallet and that is why I am here at home watching TV instead of being down at Nasty Natasha’s paying off my bar tab and getting hammered running up a new one.

Naturally, my instinct is to jump up and grab them by the collar so that I can scream in their faces, droplets of Disgusting Mogambo Spittle (DMS) spraying out and hitting their stupid faces, “No, no, no, you moron!” and shaking a Financial Times piece at them that reads “Concerns Mount Over Sharp Rise In Food Costs”.

That news that food is costing more is Very, Very Bad (VVB) to someone whose income is limited, as it means that the person must either buy less food, or buy the same amount of food but less of something else like electricity, which shoots the hell out of the argument of the “deflation-hawk” morons that falling prices for their overpriced, bubble-assets is worse than rising prices for food and energy (where oil is back over $70 per barrel), or the JOC -ECRI Price Index which is up a whopping 4.1% in the last week alone! One Freaking Week (OFW)!

And this doesn’t even count the inflation in other costs, such as how my health insurance went up by another 8.8%, taking me to over $13,000 a year in premiums, which doesn’t count the $2,000 deductibles that my wife and I must each pay, or the co-pays, which means I am out of pocket over $15,000 a year before they start picking up any of my needed medical costs!

I was thankful that Bill Bonner here at The Daily Reckoning did not comment on how my health insurance premiums probably reflect the immense amount of professional help that I desperately need, even though my policy obviously does not cover the category of “mental illness” enough to do me any good, and instead writes that my clinically hysterical over-reaction to inflation is destined to get worse, as “The US money supply growth was fairly constant for the last 45 years. Then, under pressure from the stimulus/bailout programs, it exploded. Art Laffer says it is meaningless to compare it to anything in our history; nothing like this has ever happened before. He argues that inflation this time could be much worse than the inflation of the ’70s, when the prime rate hit 21.5%. This is a new era!”

And while this may be a “new era” for most things, I’m betting that the “buy gold when your government is acting like spendthrift, corrupt morons” philosophy that has served the “old era” of the last 4,500 years of human history so well will continue to do so now, which makes it all so easy that I happily say, “Whee! This investing stuff is easy!”

Life and death of Louis T. McFadden

McFadden's Attempts to Abolish the Federal Reserve System

Interest-Rates / Fiat Currency Jul 22, 2008 - 03:56 AM

By: Richard_C_Cook

Louis T. McFadden (1876-1936): An American Hero - Dr. Ron Paul, the Republican candidate for the 2008 presidential nomination, is not the first U.S. politician to point to the abuses of the Federal Reserve System and call for its abolishment. Similar pleas to get rid of the Fed were made by Reps. Wright Patman (1893-1976) and Henry Gonzales (1916-2000), both Democratic congressmen from Texas and chairmen of the House Banking Committee.

Few recall, however, how controversial the Fed was when it was first proposed and then maneuvered through a recessing Congress just before Christmas 1913. Rep. Charles Lindbergh, Sr., R-MN and father of the future aviator, called the Federal Reserve Act “the worst legislative crime of the ages.”

But the strongest opposition came later, during the Great Depression. The source was Rep. Louis T. McFadden, a Republican representative from Pennsylvania who, as a former bank cashier and president, knew the financial system intimately.

McFadden was born in Granville Center, Bradford County, Pennsylvania, on July 25, 1876, just three weeks after the nation celebrated its centennial at the Philadelphia Exposition. He graduated from Warner's Commercial College in Elmira, New York, and went to work at the First National Bank of Canton, PA, in 1892.

McFadden was elected to Congress in 1914 and served until 1934. Though a Republican, he moved to impeach President Herbert Hoover in 1932 and introduced a resolution to bring conspiracy charges against the Board of Governors of the Federal Reserve.

He also made a 25-minute speech on the House floor accusing the Federal Reserve of deliberately causing the Depression. At the time, the chairman of the Federal Reserve Board was Eugene Meyer, who resigned after Franklin D. Roosevelt was inaugurated as president in 1933 and purchased the Washington Post at a bankruptcy auction.

Later in 1933, McFadden introduced House Resolution No. 158, Articles of Impeachment for the Secretary of the Treasury, two assistant Secretaries of the Treasury, the Board of Governors of the Federal Reserve, and the officers and directors of its twelve regional banks. This was McFadden's political swan song. In the election of 1934, he lost his reelection bid to a Democrat by 561 votes.

Let's fast forward to 2008. We are in the early stages of an economic collapse that Nouriel Roubini, professor of economics at the NYU Stern School of Business, calls “the worst financial crisis since the Great Depression.”

Once again the Federal Reserve is implicated, this time for having enabled the creation of gigantic investment bubbles in home mortgages, commercial real estate, equity funds, hedge funds, and derivatives that are now bursting. Mayhem is now starting to be sown within the producing economy of working men and women after having wreaked devastation on Wall Street and within the banking industry despite massive Federal Reserve bailouts over the past year.

The chief culprit would appear to be Alan Greenspan, chairman of the Federal Reserve from 1987 to 2006, who presided not only over the ongoing subprime mortgage fiasco, but previously over the bubble of the 1990s. This blew up when the stock market crashed in 2000-2001, obliterating $6 trillion of investor wealth.

The subprime conflagration of the 2000s was ignited by an orgy of application fraud that commenced just after George W. Bush became president. According to former New York Governor Eliot Spitzer, the investigation of this fraud by state attorneys-general was blocked by Bush's Treasury Department.

Perhaps Louis T. McFadden was onto something. After his premature death, his words faded into history as he was derided for being anti-Semitic when he said such things as, “America has to choose between God and the money changers who have unlawfully taken our gold and lawful money into their possession.” Today he is dismissed, sneeringly, as “one of the heroes of the Federal Reserve conspiracy theorists.” (Edward Flaherty,

But maybe McFadden said some things that are still worth listening to. In his June 10, 1932, address on the House floor, he declared, as reported in the Congressional Record:

“Mr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal Reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States, has bankrupted itself, and has practically bankrupted our Government. It has done this through defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board, and through the corrupt practices of the moneyed vultures who control it.”

Remember, this was a former bank president and member of the Republican Party speaking! McFadden added:

“From the Atlantic to the Pacific our country has been ravaged and laid waste by the evil practices of the Federal Reserve Board and the Federal Reserve banks and the interests which control them ... This is an era of economic misery, and for the conditions that caused that misery, the Federal Reserve Board and the Federal Reserve banks are fully liable.”

Further statements by McFadden in his House speeches may be found at: becraft/mcfadden.html As we watch today with dismay while the U.S. dollar shrinks in value and foreign investors continue to buy huge quantities of federal government debt, we might recall McFadden's words from a 1934 speech:

“The Fed Note is essentially unsound. It is the worst currency and the most dangerous that this Country has ever known. When the proponents of the act saw that the Democratic doctrine would not permit them to let the proposed banks issue the new currency as bank notes, they should have stopped at that. They should not have foisted that kind of currency, namely, an asset currency, on the United States Government. They should not have made the Government [liable on the private] debts of individuals and corporations, and, least of all, on the private debts of foreigners.”

Of the twelve regional Federal Reserve Banks, or corporations, McFadden said in words that also prefigured the life-and-death stranglehold the Fed has over every aspect of the U.S. economy today:

“The imperial power of elasticity of the public currency is wielded exclusively by the central Corporations owned by the banks [i.e., the regional Federal Reserve Banks.] This is a life and death power over all local banks and all business. It can be used to create or destroy prosperity, to ward off or cause stringencies and panics. By making money artificially scarce, interest rates throughout the Country can be arbitrarily raised and the bank tax on all business and cost of living increased for the profit of the banks owning these regional central banks, and without the slightest benefit to the people. The twelve Corporations together cover and monopolize and use for private gain every dollar of the public currency and all public revenue of the United States. Not a dollar can be put into circulation among the people by their Government, without the consent of and on terms fixed by these twelve private money trusts.”

In language that suited the 1930s but is also prophetic of our own disjointed times, McFadden summarized his outrage by saying:

“Are you going to let these thieves get off scot free? Is there one law for the looter who drives up to the door of the United States Treasury in his limousine and another for the United States Veterans who are sleeping on the floor of a dilapidated house on the outskirts of Washington?”

McFadden may have paid with his life for his outspokenness. After he lost his congressional seat in 1934, he remained in the public eye as a vigorous opponent of the financial system; that is, until his sudden death on October 3, 1936, of a “dose” of “intestinal flue” after attending a banquet in New York City.

Reporting his death in its October 14 issue, Pelley's Weekly stated that it had “became known among his intimates that he had suffered two [previous] attacks against his life. The first attack came in the form of two revolver shots fired at him from ambush as he was alighting from a cab in front of one of the Capital hotels. Fortunately both shots missed him, the bullets burying themselves in the structure of the cab.”

Next, 'He became violently ill after partaking of food at a political banquet at Washington. His life was only saved from what was subsequently announced as a poisoning by the presence of a physician friend at the banquet, who at once procured a stomach pump and subjected the congressman to emergency treatment.'

Evidently the third time the assassins succeeded, and the most articulate critic of the Federal Reserve and the financiers' control of the nation was dead. He was 60 years old.

By Richard C. Cook

Berlin Suspends Ratification of the Lisbon Treaty

Berlin Suspends its Ratification of the Lisbon Treaty

by Bruno Odent, Spectrezine, July 8, 2009

Germany. The Constitutional Court objects to failures of democracy in the European text, in particular, with respect to transport and national laws.

A surprising new obstacle has arisen in the process of ratification of the Lisbon Treaty: the German Constitutional Court announced at the end of June that it is suspending the German ratification of the treaty, adopted several months ago by the parliamentary route, until an accompanying law preserving the rights of the Bundestag and Bundesrat - the two houses of the German federal parliament - can be promulgated.

Acting on a complaint registered by the deputies of Germany's most left parliamentary party Die Linke on the one hand, and by the right wing Euro-sceptics on the other, the court decided that the treaty was certainly "compatible" with the constitution, but added that its adoption must be conditioned by a new arsenal of national law designed to prevent Brussels from trampling on citizens' rights. In other words, if the judges toward whom the watchful eyes of the European "elites" had been turned have not condemned the text, they have at least expressed the need to constrain it seriously in order to preserve the rights of citizens.

The decision illustrates once more the deficiencies of democracy in the European text, the deficiencies that were the chief reasons for its rejection at each attempt for ratification these past four years. After the unproductive presentation of the European Constitution, carving in granite the laws of neo-liberalism, rejected in the French and Dutch referenda, its clone adopted in Lisbon has likewise been subjected to a veritable obstacle course. Its future depends, as we all know, on the outcome of the Irish referendum, where the Irish people have been asked to vote again in autumn, having already once said "No".

The decision by the judges in Karlsruhe, which is the seat of the Constitutional Court, could not be more specific. It emphasizes that because of a "deficit of structural democracy" at the level of the European Union (EU), the rights of co-decision by the German parliament must be clearly stated in law. In the opinion of the court, this will be the only way to "guarantee the effectiveness of the right to vote" for German citizens, and to "keep an eye out" that the EU "does not stray outside the competences it has been granted".

The starting gun for a foot race has been fired in Berlin, that the accompanying law demanded by the Constitutional Court be drafted and passed by the Bundestag as quickly as possible. The parties of the grand coalition (the centre-left CDU and centre-right SPD) have held emergency meetings, and the Chancellor Angela Merkel has quickly announced that the Bundestag will be asked to interrupt its summer vacation, to meet on 26 August to begin the process of ratification of the law, which must be promulgated by 8 September at the latest. The smallest new detail can thus have a calamitous effect on the ratification process in Ireland and elsewhere. It may well also have an effect on the legislative elections planned in Germany for the end of September.

Despite the very large majority in the hands of the CDU and SPD, it is not impossible that this hurried process of ratification will arouse strong reactions in public opinion. According to recent polls, a huge majority of citizens (70% to 85% of persons polled) continue to ask for a referendum on the subject, a referendum the outcome of which seems very uncertain. The organization of a popular consultation would be the only way, according to Die Linke, to restore its "lost legitimacy" to the process of ratification. It is not clear that this debate will not interfere with the legislative campaigns. And this, as they observe from the headquarters of Die Linke in Berlin, is not the sort of thing to be very reassuring to "the parties to the neo-liberal concensus".

The original article in French was published in L'Humanité. This translation by Henry Crapo was first published on the paper's English-language website

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della moneta

Un paese della zona euro può creare, senza entrare in violazione del trattato di Maastricht, una nuova banca centrale per controllare la politica monetaria di una sua nuova moneta

di Marco Saba
| 29.05.2009
MONETA NOSTRA, di Marco Saba, inedito 2009, vedi link per alcuni estratti
estratto: il progetto CENTROBANCA: le Neolire (ITN)

(...) Il Trattato di Maastricht è stato un golpe morbido imposto da oligarchi travestiti da banchieri e statisti, questa sarebbe una risposta pacifica, proporzionata e abbastanza smaliziata. " continua

Commento di Ida Magli all'articolo:

"Carissimi Lettori,

Non spaventatevi di fronte a una lettura un pochino impegnativa. Ne vale la pena.
Mettendo in atto questa proposta vedremo finalmente l’inizio di una liberazione dai folli banchieri che ci governano tramite l’Europa. Inoltre sarà possibile così non pagare gli interessi sulla moneta che fabbricano a Bruxelles e sentirci di nuovi padroni di noi stessi. Pensate che ancora ieri abbiamo dovuto sopportare seriosissimi moniti su quanto dobbiamo fare per uscire dalla crisi da parte del Governatore della cosiddetta “Banca d’Italia”, la quale non è per nulla la banca della nostra nazione (come probabilmente sono indotti a credere in base al nome tanti cittadini italiani) in quanto appartiene ad azionisti privati, così come appartiene a privati la Banca Centrale Europea"
Ida Magli

Banche e piccola impresa

Lug 09 7

Banche e piccola impresa: quando l'ipocrisia diventa usura

Pubblicato da Domenico De Simone alle 16:02 in Attualità

Leggo sul Messaggero on line di oggi l'articolo di cui questo è il link. E' una lettera che i titolari di una piccola impresa del Ferrarese mandano al giornale per lamentare l'atteggiamento del sistema bancario nei loro confronti. Non appena sono cominciate le difficoltà, le banche hanno chiuso i rubinetti. Proprio nel momento in cui ce n'era più bisogno. Ma vale la pena leggere tutta la lettera per capire bene fino in fondo l'ipocrisia del sistema bancario e di un Governo che fa tanti proclami, ma poi in concreto è incapace di fare alcunché per aiutarerealmente le aziende in difficoltà. Mi viene in mente che il titolo dell'articolo dovrebbe essere questo:

quando l'ipocrisia della banche diventa usura e l'inerzia di Governo e Istituzioni la favorisce.

Continua a leggere "Banche e piccola impresa: quando l'ipocrisia diventa usura" »

LaRouche: Restore U.S. Credit System

LaRouche Diplomats Meeting: Get Rid Of The Monetary System & Restore U.S. Credit System

July 2, 2009 (LPAC)-- What follows are Lyndon LaRouche's opening remarks to a private diplomat's meeting on Wednesday July 1.


WILLIAM JONES: I welcome you all today. My name's Bill Jones, I'm the Washington bureau chief for Executive Intelligence Review. This is a private diplomatic briefing with Lyndon LaRouche. I'd like to welcome a lot of you back, and I see also a lot of new faces, and we're very happy to see that. Many of you probably have seen Mr. LaRouche's very dramatic statements at a webcast on the weekend. He is prepared to discuss those issues that he brought up at that time, and to respond to any questions that you may have, regarding issues that are dear to you, regarding the regions from which you come.

The general format is that it's a private diplomatic briefing. Mr. LaRouche's statements are on the record; we will publish that and circulate that. But your comments and the discussion following that is all off-the-record so you can feel free to say what you want, ask the questions you want, it's not going to be appearing in print anywhere at all.

So with that, I give Mr. LaRouche the floor.

LAROUCHE: Okay. Well, the theme should be today, throughout the world, that the world is in the greatest financial-monetary crisis, and economic crisis, in modern world history. This has been in process since the summer of 2007, when I first forecast this thing. And it's getting worse. It has had political ramifications, of course, throughout the world, and most governments have been resisting the reality of trying to pretend that this was only a financial crisis of some sort, that it would go away, that it could be fixed. And policies have been made on the assumption, that this thing is not going to crash, that there's going to be a recovery after a "period of pain."

Well, it's more than a period of pain. The present world financial-monetary system is about to go out of existence. And the only chance for having a civilization, is to put this world system into bankruptcy reorganization, and to replace the present financial-monetary system, with a credit system. Now, the crucial point here, is that very few people know what a credit system is. Everyone is convinced that monetary systems have ruled the world, and will continue to rule the world. And they assume they call up an accountant, which is the worst thing you can do these days. All you'll get is bad news, and you'll get sickness, and family break-ups and so forth.

But the issue is, that the world is governed by an empire. The empire has existed in European civilization since the period of the Peloponnesian War, in which certain monetary interests, money interests, as such, have been higher in rank than governments. Sometimes this has taken the form of an empire as such. But today's empires are not empires of governments as such, they're empires of consortia of financial interests, and monetary interests. And you have institutions, especially in a so-called free market, which is the worst form of government imaginable: In a free market, so-called, the monetary interests are above government. International financial-monetary interests are higher than government. These governments control the currency, the monetary system of the world, and of nations, and this is what constitutes a real empire. People above government, controlling government, where governments are supposed to respect the "free market" — and the free market is the system of slavery of governments.

Now, you've seen a manifestation of this, because back in the summer of 2007, I announced this crisis which has been coming on ever since, and indicated there was a remedy, and indicated what the temporary remedy was for the United States: to put the system into bankruptcy reorganization. And actually, we're going to have to cancel, if civilization is going to survive, we're going to have to cancel most of these monetary-financial claims which are outstanding out there, and go back to what was called "the American System." Now, the American System, which was developed in what became the United States, was unique. No other part of the world initiated such a system, as the type we initiated. The problem of our country, today, is, at various points, powerful interests, international interests, have intruded upon and been able to wreck our system. And have brought us into subjugation to an international monetary system, in large degree, especially since 1968-1973.

So, the world as a whole is run by monetary systems. The monetary systems are under a free trade system, are completely international. International financier monetary interests control governments; every government of Europe, every government of the Americas, is today governed by an imperial power called an international monetary system. It fixes the rates.

The United States was unique in its organization from the beginning. Back in days of the Massachusetts Bay Colony, between 1620 and 1688, in that period, the Massachusetts Bay Colony developed a credit system, it was called a scrip system. They uttered a form of money which was negotiable only within the colony, the Massachusetts Bay Colony, and this continued until the British intervened, during the period of King James II and his follower William, of William and Mary, to impose a monetary system on the United States. There was an attempt to return to the Massachusetts Bay Colony, which was actually a credit system, under the initiative of Benjamin Franklin and his proposal for a paper currency. In the 1770s, Alexander Hamilton recognized a problem we had in the United States, which I cite here, again, because it's relevant to our current situation internationally, among nations internationally. Hamilton recognized, first of all, that the problem of the United States, which had just won its victory in a military struggle for Independence, was bankrupt, because each of the states, which had had separate state banking systems, of the separate colonies, were now in dire trouble because of the war debts they had incurred in defeating the British imperialists. So Hamilton said, "Well, there's no way that these states can deal with this problem."

We had a form of constitution in the Declaration of Independence, in which the principle was there, but we didn't have the mechanism. Well, Hamilton said: If we create a National Bank, as a credit-based bank, we can create a National Bank which will take over the backing and reorganization of these separate state-banking systems, under a National Banking system. But he also specified that in order to do this, we had to go to our constitution then, which was the Declaration of Independence, and take the principle of that and apply it, in a form which would deal with this debt problem.

So what he did, and what they did, is they went to have a Constitutional Congress, and the Constitutional Congress gave us the U.S. Constitution, which provided that the United States would not be subject to foreign monetary systems, but would be an independent, national credit system, at that time, headed by a National Bank; that no money can be uttered under law, under Constitutional law in the United States at that time, except by permission of the Federal government. No other authority, higher than the Federal government itself can utter money. This money is uttered with the consent of the Congress, and the administration as executed by the Executive branch.

Therefore, no foreign power — the same thing happened in the case of Abraham Lincoln's leadership of the revolt against the British Empire, called our Civil War. And the bankers would not allow money to be lent, except at high interest rates to the United States government. So Abraham Lincoln went back to our Constitution, and issued what became known as "greenbacks": No money was allowed in circulation, except U.S. money, printed and guaranteed by the U.S. government. And through that means, we rescued our nation, not only won the war, but created the United States as the most advanced industrial power in the world, right in that period, by use of our credit system, to utilize the productive powers of labor and progress in an effective way.

So, as a result of the domination of the world by the British Empire, which has dominated the world through this entire period, except during the period of Roosevelt's administration. The world has been dominated by an international monetary system, which in terms of the Mediterranean civilization, dates from the Peloponnesian War. There has never been a truly independent system, except for very brief intervals, in the entire history of Europe. And the entirety of the world, insofar as it's subjugated to the British Empire, has been subjugated to that condition, up to the present day!

What happened during the period of World War I, is that we had corrupt Presidents — who were really traitors in my view — Teddy Roosevelt and Woodrow Wilson, who introduced the British system through establishing the Federal Reserve Bank, which was actually an intrusion; it was un-Constitutional, a money-creating facility outside the United States. Under Franklin Roosevelt, this was somewhat controlled. But with the death of Roosevelt, we began down the wrong road, and then, with the break-up of the Bretton Woods system entirely, in 1968-73, in that period, then we went to a world free-market system.

It is that world monetarist system, a so-called free-market system, which is now crashing. As long as we continue to accept the existence of that debt, which is the international monetarist debt, under this system, civilization worldwide is doomed. The only way that we'll get out of this mess, the only possibility for recovery, of any part of the world, is to cancel the present, international monetarist system. And have, instead, a system of nation-states, each sovereign, who declare a common participation in a system of national credit, the credit controlled as a sovereign matter of each state. And to combine these nations in a single system, by having a fixed-exchange-rate system among them. And we're talking about, essentially the goal of a fixed-exchange-rate system based on the idea of national credit of between 1.5 and 2%. Because at higher rates of interest, at higher rates of borrowing, you can not develop a balanced recovery of the world economy.

What we need now, today, as you know, we do not have the industry and agriculture development we need globally; we're losing it — losing it at a rapid rate. We need, largely, for nations to undertake long-term credit operations, in terms of infrastructure development, both rural and industrial, and use this kind of development as a stimulus for developing a full-spectrum economy. And that we must think in terms of 30- to 50-year long-term agreements on treaty agreements for development, each conducted by sovereign nations, but a sharing of credit from a common credit system — a fixed-exchange-rate credit system — among governments. For example, let's take the case of Russia and China: China is in a hopeless situation. China was lured into the idea that it was going to have a world market, guaranteed by the United States and the British, especially the United States; and so, China expanded its economy, through an export economy, but they did that by pricing their goods so cheaply that China could not sustain its entire population on that export economy. Because China was working at cheap-labor rates, way below the cost of the U.S. product. The U.S. product was superior, in productivity and other terms. But! China worked very cheap, and therefore, it expanded its market as the United States and Europe, dumped and shut down its industrial economy and shipped production to China.

The same thing happened in other countries, where cheap labor and cheap goods, where income was expanded, but not at rates sufficient to maintain the balanced development of these economies.

So China found itself in a position today, where it had a large economy, based largely on the market in the United States and Europe, and some other countries. But the key margin was the United States, and so forth. And the United States was exporting its industry, deindustrializing itself — as Europe was — for this market. When the market collapsed, China found itself with a budget which was based on the assumption that this global market was going to continue to exist, and expand — and suddenly, that market collapsed. And the collapse of that market means it will never come back. So, China is faced with a crisis.

Russia is faced with a different kind of crisis, but it's similar. It's faced with a crisis where it depended upon export of raw materials, particularly power, natural gas, petroleum, and so forth, this kind of thing. Suddenly, Russia depended upon that — the market has collapsed! Because the world market has collapsed. So Russia now has a major crisis.

India has less of a crisis, but it has also a very large, poor population. It's more stable, because it's less export-dependent, but it has a large, impoverished population.

So, what is needed is a global system of cooperation, among credit systems, in which we recognize what the world needs, in terms of physical levels of production, physical improvements in conditions of life. It must be sovereign, it must be done by sovereign nation-states. But there must be also a system of international credit-sharing, in support of long-term projects, and we're talking about essentially a 50-year perspective. Which means, you have to design, which can be done very quickly, a 50-year agreement on a credit organization among nation-states, in which we can integrate the aims and objectives of recovery of these nations.

Now, that would mean putting the system through bankruptcy. This would mean that most of the debt, which is currently outstanding, is financial speculative debt. Nations are being bled to death, by a system of speculative debt. Under bankruptcy reorganization, according to U.S. law, most of this debt that is found to be worthless, will be simply cancelled. And the amount of debt will be restricted to a stable banking system, under credit system rules. It's the only possible way. As long as we try to demand, that the world economy be collapsed in order to pay a cancerously growing debt, there is no chance of recovery. Under the present rules, of the present system, and under the rules of globalization, there's no chance for the survival of civilization in any part of this planet, today! So we will have to do this, make this reform, because there's no other chance: Unless you want to collapse the civilization and want to go from 6.7 billion people on this planet, to less than 2 fairly quickly, you're going to do that kind of reform. And that's what I've been presenting and that's what I've been arguing for. I know time is on my side. But time is also against us: Because, if this process continues, the rate of death in this planet, from diseases and other effects, is going to wipe out a lot of the world's population. Whole nations will simply disappear from the map.

Or, if we do it, we'll survive. And it's the only chance.

And therefore, I'm sitting in that situation, where what I'm proposing will work, but if it's not done, then the whole planet's going into a dark age, worse than any on known record! And that's in the short term.

The political crises, as well as the present disease crisis, internationally, are a byproduct of this situation. You know, diseases, like this present flu epidemic, are diseases which are actually promoted by conditions for spread of disease. And therefore, these kinds of things hit, as they did, for example in the 14th Century in Europe, the population collapsed what?— by 30%!—in a generation, in Europe, in the dark age of the 14th Century. It collapsed, following a collapse of the banking system of that period, which had brought down the entire economy of Europe. The result of that was chaos, and mass death.

All of these kinds of conditions, like the great flu epidemic of 1918, in the world, was a result of wartime-type conditions, especially centered in Europe, and in the fact of U.S. soldiers who had served in Europe, which brought this 1918 flu epidemic upon us. The present international flu epidemic is a symptom of the same kind of thing, and it's going to spread. It's spread, because the physical conditions of life, the physical conditions of sanitation, have reached the point that these diseases break out, not merely because the disease is being promoted, but the conditions to promote the disease and its variation has been that.

So we're at that kind of point. And my concern is, if the United States will change its policy and enter into agreement with other nations, for such a change in policy, we can force through the kind of immediate reform, which parallels the reform designed by Alexander Hamilton, back during the period of the American Revolutionary War and following. It'll work. It's the only chance, the only chance, now. Under the present system, there's no chance for civilization — we're going into a dark age. This is not a financial crisis. This is not a depression. It's not a recession. It's not a mere financial crisis. It's a breakdown crisis of the system! And if you look at the figures, on employment and production, in the United States and other countries, as in Europe, you look at the rate at which key industries are disappearing, you look at what's happening in agriculture, what you're seeing is a trend, now, well-established, which is going to reduce the world's population, in the direction of about 2 billion people, down from 6.7 right now. So therefore, we have no choice, but to make this kind of reform. This kind of reform will work. The precedent exists for it, especially in the case of the United States' example: When we did this, each time we did this and went back to our system, rather than the British system, we prospered. Each time we submitted to British influence, British bankers' influence over Wall Street, we went down. That's the lesson.

And our mission, as the United States, in my view, is the fact that we have in our experience, the understanding of a credit system, as opposed to a monetary one, where all European experience since the Peloponnesian War, to the present time, has been that of a monetary system. Get rid of the monetary system, use the principle of national sovereignty, of sovereign nation-states in cooperation for a fixed-exchange credit system, and we can recover.



- Diritto del lavoro diritto processuale civile:

La sentenza in esame ci consente di riepilogare i criteri applicati dalla giurisprudenza per effettuare la determinazione degli importi relativi a rapporti di conto corrente dovuti dai correntisti agli istituti di credito.

"In tema di prova del credito che un istituto bancario è tenuto a fornire sia nel procedimento monitorio sia nel successivo giudizio contenzioso di opposizione, va distinto l'estratto di saldaconto - dichiarazione unilaterale di un funzionario della banca creditrice certificante la conformità del saldaconto alle scritture contabili e la verità e liquidità del credito - dall'ordinario estratto di conto corrente che contiene invece la descrizione delle movimentazioni debitori e creditori e intervenute nel corso del rapporto, periodicamente inviate al correnti sta, con l'indicazione delle condizioni attive e passive applicate dalla banca. Infatti, per condiviso e consolidato orientamento della giurisprudenza di merito e di legittimità, il saldaconto riveste efficacia probatoria nel solo procedimento sommario per decreto ingiuntivo e ai fini dell'emissione di questo, mentre gli estratti di conto corrente costituiscono il mezzo di prova idoneo a sostenere la pretesa del creditore nel successivo giudizio contenzioso instaurato dall'opponente, in quanto contenente la specifica descrizione delle eventuali operazioni controverse. Ne deriva pertanto che la domanda dell'opposta banca non può ritenersi provata qualora questa ometta di produrre gli estratti di conto corrente e quindi gli elementi conoscitivi in base ai quali ricostruire il controverso rapporto, generalmente in relazione alla durata intera del rapporto bancario, e il definitivo saldo preteso (cfr Cass. n. 2751/2002, n. 12233/2003, n. 11749/2006)".

Nel caso di specie, giunto all'attenzione del giudice di secondo grado, "tra gli atti del fascicolo di primo grado si rinviene un solo estratto di conto corrente alla data del 31 dicembre 1993, che risulta inutilizzabile al fine di quantificare anche parzialmente la pretesa della banca, atteso che da tale data sono riportate soltanto spese e interessi in riferimento a un asserito saldo passivo il cui importo non è in alcun modo verificabile in assenza di alcuna documentazione relativa al periodo precedente. Ne consegue il totale rigetto della domanda dell'istituto bancario per mancanza di prova".

(Corte d'appello di Roma - Seconda Sezione Civile, Sentenza 28 maggio 2009, n.2258: Onere probatorio per la prova del credito della banca).

[Sentenza cortesemente inviata da avv. Emanuele Petracca]


Da: SVIZZERA Connection


Fu fondata nel marzo 1975 col nome Rossminster SA e con sede presso l'ufficio di amministrazione fiduciaria Hoogewerf, Usher & Co. (11) nell'edificio di proprietà a Ginevra. Del consiglio di amministrazione facevano parte l'inglese Roger John Usher e il lussemburghese Karl Ulrich Sanne, entrambi collaudati esperti contabili in Lussemburgo. Usher era già noto in Svizzera. Era revisore presso la Società lussemburghese Coim-Suisse SA, mentre il ticinese Tito Tettamanti era membro del consiglio di amministrazione. Dall' aprile1973 Hoogewerf era vicepresidente della filiale lussemburghese Fidinam di Tettamanti. Nel 1981 la Rossminster cambiò il nome in Ilex, si trasferì in uffici propri e aumentò infine, nel febbraio 1983, il capitale da 50.000 a 250.000 franchi. Usher, presidente dell'Ilex, si trasferì dal Lussemburgo a Ginevra e divenne membro ordinario della Camera per l'amministrazione fiduciaria della Svizzera, mentre Hoogewerf e Sanne rimasero in Lussemburgo e fondarono le loro ditte. In pubblico Usher e Hoogewerf cominciarono a non apparire più in coppia. In qualità di direttore della Ilex, Usher assunse l'indiano Raj Nair che più tardi fece anche parte del consiglio di amministrazione. Come nuovo consigliere d'amministrazione Ilex Usher acquisì l'esperto tributario di Losanna Kaloyan Stoyanov ben introdotto nella migliore società di Waadtland. Oltre alla Ilex, Usher ha fondato anche la Usher and Co. con sede a Ginevra e filiale a Lugano. In apparenza avwva interrotto i legami con Hoogewerf, nell'ombra tuttavia rimaneva legato a lui e al suo gruppo, tra l'altro nella veste di procuratore della ginevrina Hoogewerf & Cie. (12) Da parte sua Hoogewerf fondò dal Lussemburgo contemporaneamente due nuove ditte in Svizzera, la Hoogewerf Trustees (Neucha^tel) e la società in nome collettivo di Ginevra MacPhail & Co., insieme con l'ex direttore dell' Ilex Donald Mac Phail. Anche il vecchio socio di Hoogewerf, Sanne, lavorò in Svizzera col proprio nome, e precisamente come presidente della Safes Fidelity SA a Ginevra. (13) Inoltre Sanne dirigeva per la Compagnie Financière Espiritu Santo in Lussemburgo la Partridge Investments SA.(14) Nel 1992 e nel 1993, Hoogewerf e Usher appaiono più volte nella "Gazzetta Ufficiale" del Lussemburgo rispettivamente come consigliere d'amministrazione e revisore delle stesse società di recente fondazione. Così Hoogewerf era ad esempio consigliere d'amministrazione delle seguenti sei holding per azioni "société anonyme holding ", precisamente B.E.G. International SA ,Trinity Finance Holding SA, Euro-Oil Invest SA e Vitco SA, Multiestate Holdings SA e Sea Star Seven Holding SA. In tutte e sei le società Usher ricopriva l'ufficio di revisore legale. I collegamenti tra Hoogewerf e Usher, che risultano dal Registro di Commercio lussemburghese e svizzero, possono essere interpretati come indizi del fatto che i due coordinano sistematicamente la loro attività, senza che questa loro collaborazione fosse comprensibile nei dettagli agli estranei. Quindi i due, in termini economici, si rapporterebbero come il dare e l'avere nella contabilità a partita doppia, ma legalmente una parte non potrebbe essere considerata responsabile per le attività dell'altra. Questa lettura dei fatti farebbe di Hoogewerf e Usher l'esempio di una di quelle strutture sorte negli anni '90 che si possono definire “parabanca virtuale”. Parabanca perché vengono offerti servizi finanziari globali non soggetti, o solo parzialmente, alle leggi nazionali bancarie e fiscali in vigore. E virtuale perché la struttura che produce profitto viene tenuta insieme da invisibili legami personali e non da reali organismi economico-aziendali, giuridici o amministrativi.


Nel 1981 fu fondata a Ginevra una società di comodo di nome Corakges SA. L'azionista era il canadese Roger G.Francis, che viveva a Ginevra, e fungeva da società di revisione la Hoogewerf, Usher & Co. Lo scopo statutario della società era così formulato: "fornire servizi e consulenze di ogni genere, nell'ambito della finanza, del commercio e della produzione ad un gruppo di società attive nel settore del petrolio".(15) Nel febbraio 1984 la Corakges cambiò nome in RGF Counsel SA, e Kaloyan Stoyanov si insediò nel consiglio di amministrazione. Nel 1992 la Usher and Co. divenne società di revisione. Il 20 dicembre 1993 la RGF Counsel andò in liquidazione. Liquidatrice diventò la Ilex Trust Services. La liquidazione fu probabilmente dovuta al fatto che Roger Francis era finito sulle prime pagine dei giornali in Italia con titoli a caratteri cubitali dall'inizio del 1993. Nello scandalo delle tangenti ENI egli era sospettato di avere emesse in maniera massiccia e sistematica da Ginevra fatture false per consulenze (non prestate) ad affiliate ENI a Milano e a Roma. Esse erano necessarie per la registrazione delle spese, sostenute per le tangenti, nel bilancio dell'ENI. Francis non fu arrestato ma interrogato più volte a Milano. All'inizio dell' agosto 1995 la Ilex Trust dava lavoro a 15 impiegati nella sede principale di Ginevra e a tre nella filiale di Lugano. Del consiglio di amministrazione facevano parte Roger Usher, Kaloyan Stoyanov, Raj Nair, Walter Koenig, Rico Luginbühl e Jürg Stäubli.(16) L'azione esercitata da Luginbühl e Stäubli è limitata dal fatto che sono gli unici a non poter firmare insieme. Dei due consiglieri d'amministrazione della Ilex è finora divenuto famoso solo Jürg Stäubli. Ma procediamo con ordine. Qui di seguito si esaminano in maniera dettagliata i più importanti consiglieri d'amministrazione della Ilex in base alla loro effettiva influenza. L'inglese Roger Usher, classe 1935, può essere definito il veterano del business offshore. Dopo aver iniziato in Inghilterra, Zurigo e Lussemburgo si trasferì, come già ricordato, a Ginevra. Qui egli diresse dall'inizio degli anni '80 oltre alla società per azioni Ilex Trust Services anche la società in nome collettivo Usher and Co. A Londra (17) e in Lussemburgo (18) fu soprattutto revisore dei conti. Insieme con l'indiano Raj Nair quale direttore e più tardi consigliere d'amministrazione dell'Ilex, riuscì ad Usher di stabilirsi a Ginevra e Lugano. Nella persona dell'ex procuratore dell'Ilex, Jean-Louis Hurst potè formare un valido successore. Hurst firmava nell'estate 1995 come amministratore di Usher and Co. (Lugano) e aveva creato per il suo protettore una rispettabile filiale ticinese. Collaborava strettamente con l'italiano Sergio Avanzi, attivo a Londra, e la sua White Eagle Holding di Ginevra, per la quale firmava anche come procuratore. Dei consigli di amministrazione delle società di Avanzi, la Holding White Eagle (Ginevra e Lugano), la Suni Trading Associates (Lugano) e la Rose-Bud & May Partnership SA (Lugano) facevano parte anche i due ticinesi Antonio Canavesi e Renata Scacchi, stretti collaboratori di Hurst. (19) Il collaboratore di Canavesi, Hurst, era inoltre presente nel consiglio di amministrazione della società di partecipazione Gurta SA, insieme con Fausto Gianini, direttore della filiale di Bankverein a Lugano. La Gurta è guidata da due dirigenti Fidinam, precisamente dal manager della Fiduciaria Fidinam Sergio Croci e del suo collega Flavio Maggioni, che fa parte anche del consiglio d'amministrazione della società consociata alla Fidinam Inse & Pessina. Un'altra linea porta al noto procuratore ticinese Roberto Bassi (Roberto Bassi & Partners). Il collaboratore di Hurst Canavesi fa parte del consiglio di amministrazione della Building Development Components Ltd. (Dublino), filiale di Lugano. Qui troviamo anche Claudio Morotti, un manager di Roberto Bassi & Partners.(20) La collaboratrice di Hurst Renata Scacchi nell'estate 1995 faceva parte a sua volta di 31 consigli di amministrazione ed era procuratrice della Metals and Chemical Promotion (MCP) Ltd. (Londra), Filiale di Lugano. I suoi mandati amministrativi erano per lo più esclusivi. A ciò si aggiungevano quelle società che lei amministrava insieme a Hurst e Canavesi. Chi vuole scoprire i misteri del sistema offshore, deve seguire tutte queste ramificazioni. Sono gli assi vitali di questo business. Non possiamo dunque risparmiarci del tutto tali peregrinazioni attraverso il labirinto delle mutue partecipazioni. Ma non dobbiamo perdere la visione d'insieme, e dobbiamo richiamare ancora alla memoria le linee di forza della Usher and Co.(Lugano). Roger Usher a Ginevra è il capo, Jean-Louis Hurst è la sua mano destra a Lugano. (21) Sul posto Antonio Canavesi e Renata Scacchi lavorano per il miglior cliente ticinese, precisamente per l'italiano Sergio Avanzi. Canavesi assicura inoltre il collegamento con l'alta finanza ticinese, dalla Fidinam attraverso il Bankverein fino a Roberto Bassi & Partner.(22)


Il consigliere d'amministrazione dell’Ilex Kaloyan Stoyanov, residente a Losanna, sembra essersi concentrato soprattutto sulla Svizzera occidentale a complemento di Usher, attivo in Ticino. Stoyanov firmava come consigliere d'amministrazione unico di un'intera serie di società, i cui libri venivano esaminati dalla Usher and Co. di Roger Usher, suo socio d'affari per anni.(23) Con ciò le società di Stoyanov, che era membro ordinario della Camera fiduciaria svizzera, non davano proprio esempi da manuale di revisione contabile indipendente. Stoyanov intratteneva rapporti con i migliori indirizzi dell' Establishment del canton Vaud. Con Jean Chevallaz faceva parte del Consiglio di amministrazione della società finanziaria di Losanna Cofiducia. Chevallaz, che dopo una carriera movimentata divenne nel 1989 sindaco di Pully presso Losanna (24), è il fratello del vecchio consigliere federale Georges-André Chevallaz.(25) Un importante contatto di Stoyanov era rappresentato dalla A.Testoni AG, commercio di articoli di cuoio, a Zug. Del consiglio di amministrazione facevano parte oltre all'amministratore fiduciario lussemburghese Robert McGaw, all'avvocato di Zug e consigliere cantonale-FDP Christoph Straub (26), anche il commerciante in pellami Antonio Lembo di Ginevra. Robert McGaw è una figura di grande rilievo sulla scena offshore del Lussemburgo e ha lavorato di quando in quando anche con Usher e Hoogewerf (Usher era revisore della sua International Financial Development Luxemburg SA).(27) McGaw aveva anche società in comune con esponenti della Arner Holding SA (Lugano), ad esempio la Energy Investments SA (Lussemburgo) con il consigliere di amministrazione Nicola Bravetti. (28) Che Mc Graw in Lussemburgo avesse un ruolo leader, lo dimostrò anche il suo mandato di rappresentanza legale del Fountainhead Group SA (Domicilio presso Hoogewerf & Cie.). Nel 1987 Fountainhead era controllato dalla famiglia Gaon di Ginevra, del consiglio d'amministrazione facevano parte tra l'altro i famosi Leon Gaon, David Gaon, Sammy Hanein e Guy Fontanet (29), tutti di Ginevra. Insieme con Pascale King e Lim Keen di Singapore, Stoyanov faceva parte anche del consiglio di amministrazione della ditta ginevrina d'orologi SA de la Montre Royal. La King lavorava per Farhad Baktiar ( cugino del leader assassinato dell'opposizione iraniana Shapour Baktiar), ad esempio come consigliera d'amministrazione della Firsec SA (Ginevra) di Shapour. Baktiar fu arrestato nel 1992 in relazione ad una presunta frode nel pignoramento di due delle sue società. Egli aveva anche società in comune con la Sasea, ad esempio la Société Hotelière d' Investissements. Un ultimo, significativo mandato di consiglio d' amministrazione di Stoyanov è l'incarico presso la JS Consulting ginevrina di Jürg Stäubli. Jürg Stäubli è protagonista di una storia a sè. Venuto come una cometa dal nulla, comparve per anni sulle prime pagine dei giornali nel ruolo di multimilionario che si è fatto da sè, arrivò ad essere "uomo del mese" della rivista "Bilanz" e scomparve di nuovo dalla scena quasi da un giorno all' altro. Insieme a Tettamanti e ad altri fa parte del gruppo dei maghi della finanza degli anni '80.(30)


Jürg Stäubli, classe 1957, crebbe a Zollikofen, sobborgo di Berna, dove i suoi genitori gestivano un piccolo negozio di vendita al dettaglio. Assolse poi un periodo di apprendistato come commerciante. Tornato a Berna, il giovane frequentò corsi di aggiornamento per commercianti, tra cui uno sul tema: beni immobili. All'esame impressionò talmente l'esperto esaminatore e pescecane immobiliare Toni Stiffler che questo gli offrì un impiego presso la sua Stifag AG.(31) Dal 1980 Stäubli costruì per Stiffler case per le vacanze in Spagna. Nel luglio 1981, a soli 24 anni, diventò capo della filiale Stifag di Ginevra. In un modo collaudato con successo Stäubli comprava vecchi immobili e, dopo un restauro, metteva in vendita l'abitazione a prezzi elevati . Per Stäubli un affare lucrativo dal momento che gli inquilini per la carenza d'alloggi allora a Ginevra erano praticamente costretti a comprare, se non volevano perdere l'abitazione. Nell'ottobre 1982 l'esattore del valore aggiunto ebbe per la prima volta dei problemi. Un gruppo di giovani occupò un immobile Stifag sulla Avenue Soret Nr. 12 a Ginevra. Staeubli trattò con gli inquilini indesiderati, alcuni si lasciarono convincere ad uscire con un assegno di 2.000 franchi o dal fatto che egli si assumesse i costi del trasloco. Ma altri restarono irremovibili. Stäubli andò a Berna e ingaggiò per 10.000 franchi la gang dei rocker Broncos. Armati di mazze da baseball, i Broncos gettarono gli occupanti sulla strada a suon di botte, una donna finì in ospedale con ferite alla testa. Il comportamento brutale della sua squadra di mercenari procurò allora a Staeubli cattiva stampa in tutta la Svizzera. Di più, nel settembre 1984 egli si prese una condanna a 8 mesi di prigione con la condizionale e 20.000 franchi di ammenda. Gli otto Broncos ebbero tra i due e i quattro mesi con la condizionale. (32) Poco tempo dopo la vicenda dei Broncos Stäubli fece una bizzarra escursione nella politica locale di Ginevra. Come presidente del "Rassemblement Genevois hors Partis" voleva entrare nel consiglio cittadino. Nonostante egli ritirasse ben presto la candidatura, presentò le perdite di voti dei partiti di sinistra che allora si registrarono, come "la sconfitta dei socialcomunisti a Ginevra", e come merito della sua campagna.(33) Dopo questi due flop Staeubli ne ebbe abbastanza di Ginevra e il suo capo Toni Stiffler, nel 1983, lo fece direttore a soli 26 anni del gruppo Stifag (volume d'affari annuo d'allora: circa 150 milioni). Nonostante il trasferimento a Berna, Staeubli non interruppe mai del tutto i contatti con Ginevra in quanto comproprietario della locale Régie Immobilière SA .


11) Le formalità di fondazione furono sbrigate dall'avvocato di Basilea Walter Koenig, che entrò anche nel Consiglio di amministrazione - dove si trovava ancora venti anni dopo. Tra i mandati di consiglio di amministrazione di Koenig c'era nell'estate 1995, la società di comodo Tecom Pipeline Consultants AG, Basilea. Un altro interessante mandato Koenig l'ha presso la Medisafe SA (Ginevra), dove Georg Walker Balzers, è direttore. Walker è manager di 13 società , nel consiglio di amministrazione di nove dei quali c'è Barbara Merz Wipfli. Merz Wipfli è la donna di punta del guppo Curator di Zurigo che si occupa di consulenza aziendale, revisione, finanza e commercio. Anche Walker è un uomo della Curator e fa parte di alcuni consigli di amministrazione di questo gruppo zurighese (a proposito della Curator cfr. p. 210 segg.)

12) Oltre a Roger Usher anche François Mehrmann collega la Ilex e Usher and Co. Mehrmann: firma in entrambe le società come procuratore.

13) Altri consiglieri d'amministrazione della Safes Fidelity: Etienne Costomeni (Losanna) e René Wuergler (Borex). (fonte: Orell Füssli/Teledata: Il CD-ROM dell'economia svizzera. Release 1996/1, data di scadenza: 1.8.95). In Lussemburgo Sanne e Hoogewerf gestirono insieme dal 1976 l'amministrazione fiduciaria e patrimoniale Webber, Wentzel & Co. GmbH, dal 1992 Maitland AG.

14) La società finanziaria era stata fondata dalla famiglia Espiritu Santo dopo la nazionalizzazione della loro banca a Lisbona nell'ambito della rivoluzione dei garofani. Più tardi gli Espiritu Santo riebbero la loro banca. Nel consiglio di amministrazione della Partridge Investments c'erano, nell'aprile 1994, oltre a Sanne il manager dell'Espiritu-Santo di Losanna, Rui Barros, Roland Cottier e Michel Joseph Ostertag, anche lui dipendente dell'Espiritu Santo.

15) Régistre de Commerce, Genève, dossier no. 2423, 1981

16) Nel 1994 anche Robert March era entrato a far parte del Consiglio d'amministrazione Ilex.

17) Delle 15 registrazioni al Companies House di Londra (Registro di Commercio ) nel maggio 1994, undici erano estinte e quattro attive. Dei complessivi 15 mandati 13 erano mandati di revisore e 2 di consigliere d'amministrazione. I mandati attivi nel maggio 1995 erano Trentplus Ltd., Visualrout Ltd., Arden Equities Ltd., Rarecall Ltd.

18) In Lussemburgo fu anche revisore delle società di Hoogewerf, ad esempio alla società madre OCRA Eurotrust International Holding Corp.

19) Canavesi e Scacchi erano nel Consiglio d'amministrazione della Barinvest SA di Lugano, la cui affiliata di Vaduz Barinvest AG nell'aprile 1994 fondò insieme con la Heathland Ltd. (Douglas, Isola di Man) in Lussemburgo la società di partecipazione Arnus Holding SA. Consigliere d'amministrazione è Jean-Louis Hurst che è iscritto nel Registro di commercio lussemburghese come Louis Hurst (per rendere più difficile la ricerca!) Commissario della Arnus Holding è la Gestinv SA (Lugano). Del consiglio d'amministrazione di questa società Hurst fa parte insieme con Renata Scacchi, Vincenzo Chiarella e Elio Castaldini, entrambi originari di Genova.

20) Morotti fa parte anche dell'Overland Trust Holding (Lugano) controllata da Roberto Bassi della KPMG Fides (Lugano). Roberto Bassi & Partner a sua volta firma come revisore di alcune società Hurst. Ad esempio: Gestinv SA (Lugano); Gurta AG (Lugano); Laconfida SA (Lugano); Plettli SA (Lugano).

21) Un mandato di consiglio d'amministrazione di Hurst, particolarmente importante, è la Duferco SA, una società a partecipazione di Lugano con 70 posti di lavoro. E' presieduta dall'italiano Bruno Bolfo, Maurizio Bergonzi è delegato del Consiglio d'amministrazione.

22) Nel maggio 1996 la Procura della Repubblica di Pisa rese note presunte frodi dell'uomo d'affari italiano Fabrizio Serra in relazione a bilanci manipolati della Casa editrice pisana Giardini. La Procura della repubblica accusò Serra di essere riuscito ad ottenere con informazioni false, da tre banche svizzere (Kreditanstalt, Bankverein e Gotthard Bank), crediti per 240 milioni di franchi. Roberto Bassi era consigliere d'amministrazione della filiale ticinese della casa editrice Giardini. Serra si definì vittima di un complotto di Roberto Bassi & Partners, del cui Consiglio d'amministrazione fa parte anche l'ex avvocato Paolo Bernasconi. Nella "Sonntagszeitung" del 12.5.96 Bassi definì "assurde" le accuse di Serra, e tuttavia "quasi logiche nella sua posizione". Lui stesso avrebbe fatto fallire Serra, quando si era accorto di essere incappato in un imbroglione. Ma per gli inquirenti italiani il ruolo di Roberto Bassi non era ancora chiaro (nel maggio 1996), egli aveva tuttavia avuto per anni rapporti d'affari con Serra.

23) Si tratta di Palma Medical Supplies SA (Villars-sur-Glane),la Nord Marine Trading SA (Ginevra), la RACB Communication SA (Friburgo), la Comsefin SA (Ginevra).

24) Pully sembra esercitare un fascino discreto. Il finanziere d’assalto Asher Edelmann di New York regalò al comune la sua squisita raccolta d'arte. Lo specialista francese di offshore Eduard Chambost, autore di una nota guida ai paradisi fiscali (Editions Sand,1993), prese la residenza a Pully.

25) Prima di iniziare la carriera politica Chevallaz era stato per dieci anni giornalista sportivo, poi presidente della scuola alberghiera di Losanna, fu poi a capo della Camera dell'Agricoltura di Vaud, per vendere infine birra nei cantoni di Waadt e del Ticino come rappresentante del gruppo Sibra. ( “24 Heures”, 11.7.96)

26) Insieme a Stoyanov, Straub faceva parte del consiglio d'amministrazione oltre che della A.Testoni AG anche della Nummus Tugensis AG di Zug, specializzata nel commercio di monete d'oro. Straub è uno di quegli avvocati che collezionano mandati d'amministrazione a dozzine. Tra i suoi mandati si trova anche la Reiluma Anlage AG (Zug), nel cui consiglio d'amministrazione è presente anche Rudolf Hegetschweiler, temporaneo consigliere d'amministrazione della Banca Albis/Adamas. Ulteriori mandati nell'agosto 1995: Alma SA (Cormagens); ES Consult AG (Zug); ISM Consult and Investment AG (Zug); Plasticos Holding AG (Zug); Assem AG (Zug); Sindacato di vendita Bruker-Spectrospin AG (Zug); Foseco Trading AG (Zug); Laetitia AG (Zug); Nutrasweet AG (Zug); Admina AG ,Baar; Altawa AG ( Zug); FIA Fachinspektorat für Aufzüge AG (Schaffhausen); Gazinvest AG (Zug); Jaspen AG (Zug); Kamer Martin Ltd. (Zug); Lisag-Liftcheck AG (Sarnen); Società del mercoledì di Zug (Zug); Orbo Finanz AG (Zug); Otopex-Holding AG (Zug); Pecufina AG (Zug); Fondazione per l'assistenza sociale al personale della Foseco Holding AG (Zug); Quim-Invest AG (Zug); Siromatic AG (Zug); Sondia AG (Zug); Walzstahl AG (Zug); Westport AG (Zug); Fenrir AG (Zug). (Fonte: Il CD-ROM dell'economia svizzera, scadenza: 1.8.95)

27) L'8.4.94 Francis Hoogewerf diede le dimissioni dalla Sycomore Investments SA (Luxemburg) e fu sostituito da McGraw. Il 27.4 si ritirò anche Roger Usher e fu sostituito dalla General Trust Company (Lussemburgo). La General Trust Company fu fondata lo stesso giorno e apparteneva a McGaw e a R. Turner.

28) Predecessore di Bravetti fino al 12.12. 91 fu Reto Kessler, direttore della Banca svizzera italiana (BSI).

29) Guy Fontanet, ex consigliere di stato del Cantone di Ginevra, faceva parte del consiglio di amministrazione del World Economic Forum insieme con Klaus Schwab e Helmuth Maucher, tutti e due dell'Allgaeu, con l'ex premier francese Raymond Barre e altri. Inoltre Fontanet era presente nel consiglio di amministrazione della fondazione Ignacia di Friburgo, rigidamente cattolica.

30) Altri mandati amministrativi di Kaloyan Stoyanov: Credex AG (Zurigo); Ilex Trust Services SA (Ginevra); Braxton & Cie. SA (Ginevra); Compimassa SA (Lugano); Granser Société de Services SA (Ginevra); HTC SA (Ginevra); Nummus Tugensis AG (Zug); Safinco Holding SA pour le financement de l'Industrie et du Commerce (Friburgo); Seldeco SA (Villars -sur- Glane); SI Louvois SA (Ginevra); Trimaco Trading SA (Ginevra); Fortress Trust Company SA (Ginevra); Associazione svizzera degli esperti tributari diplomati (Solothurn). (Fonte: Orell Fuessli/Teledata: Il CD-ROM dell' economia svizzera. Versione 1996/ 1, Scadenza: 1.8.95)

31) Toni Stiffler, originario di una famiglia di albergatori di Davos, era con la sua Stifag AG uno dei più grandi speculatori immobiliari di Berna. Aveva cominciato già negli anni '60, i più grandi affari li fece, secondo la rivista economica "Bilanz" (12 / 89), negli anni 1987 e 1988. "Bilanz" valutava il suo patrimonio privato a più di 100 milioni di franchi. Nel 1989 Stiffler cooperò anche con la fiduciaria zurighese Huber, che più tardi dovette essere liquidata a causa di affari immobiliari andati male. Negli anni '90 l'impero di Stiffler si ridusse decisamente. Diversamente da colleghi del settore, come ad esempio Albert Heer di Solothurn o Stephan Goetz di Zurigo, gli riuscì di evitare la bancarotta - per lo meno fino all'estate 1996.

32) "Berner Zeitung, 19. 9. 84

33) "Tribune de Genéve" ,5. 5. 83