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And the Italian central bank should permit this for what reason?
Savers have no macroeconomic function.
Money can be printed.
Thus we are so sensible, have schooled ourselves to so close a semblance of prudent financiers, taking careful thought before we add to the "financial" burdens of posterity by building them houses to live in, that we have no such easy escape from the sufferings of unemployment. We have to accept them as an inevitable result of applying to the conduct of the State the maxims which are best calculated to "enrich" an individual by enabling him to pile up claims to enjoyment which he does not intend to exercise at any definite time.
Savings = Investment, eh? I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS
The alternative is to stop all cross-border transactions which would also result in a total collapse of the economy.
But the savvy investors will park their ill gotten gains in safe havens long before that will happen.
As always, it is the average Joe that's going to foot the bill.
Savings are necessary to fund industrial production.
Wealth cannot be printed. Printing money destroys wealth.
- Jake Friends come and go. Enemies accumulate.
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