Not Putin, but the City of London and the ECB in Frankfurt are massively interfering in the Italian general elections, preparing a 1992 “Britannia” scenario, or a 2011 “ECB Letter” scenario for Italy in the next weeks: a financial attack combined with a ECB ultimatum, backed by a doomsday perspective painted by the media, to force through a continuation of financier-agent Mario Draghi’s policy, possibly with Draghi himself again.
According to the City of London daily Financial Times, as per S&P Global Market Intelligence data, over €39 billion have been borrowed by investors, betting on falling prices of Italian debt notes. The total value wagered has surged to levels last seen during the 2008 global financial crisis.
Algebris fund founder David Serra, an ally of former Prime Minister Matteo Renzi, told the daily La Stampa that “one month ago we had a dinner in London with 40 investment bankers and fund managers: 35 of them were planning to short Italian bonds.”
Serra says that the rationale for the bets against the Italian debt are the perspective that the Lega would get into the government. The last time they did, they pulled out the idea of printing national currency notes, the “Minibot.” However, Serra claims, that contrary to those hedge funds, he is not worried, as he has learned that populists never implement what they say.
In order to appease the City of London, would-be Premier Giorgia Meloni has sent to London her emissary Guido Crosetto, a former government official who is currently head of the association of Italian defense industries. Meloni herself was invited to the City by several banks and funds, but it is not clear whether she will go before the Sept. 25 Election Day.
Italian media speculate on a financial crisis unleashed by speculative attacks on Italian bonds, exploding the cost of living and an ECB failure (deliberate or accidental) to supply an adequate insurance of support at their Sept. 8 board meeting. It suffices for Christine Lagarde to make one of her gaffes or to say that the so-called new safety net “Transmission Protection Instrument” (TPI) will be activated with conditions.
In that case, not only will the result of the Sept. 25 general elections be other-directed, but parties might recall Mario Draghi to run an emergency regime.
