Povera Italia! Poveri Italiani!

(ZeroHedge) - Events in Italy must be watched closely. The country that gifted Fascism to the world in the 1930s was widely admired even by FDR, who held Mussolini in high regard and was no doubt inspired in many of his own policy choices. Will Italy lead the way once more, as politicians in Europe and the US watch to see what oppressive policies they may get away with? And while Russell Napier (correctly) foresees capital controls being imposed and suggested that one parks his cash in Singapore dollars, Italians may want to get themselves out as well before the current group of Professors slams the gates shut. Things are moving even faster than one of the world’s leading financial historians could foresee.

Throughout the centuries, after the end of the Renaissance, the Italians had to endure occupations of all types – Austrians, French, Spanish, the Church, Germans, English and Americans. Everybody sucked the blood of Italy. Everybody.

The Italians have become numb to these historical events. There is nothing they can do. Someone invented the Euro. And they went along. Now they are being raped again. They are accepting a situation which seems to come out of the middle ages and wartime. When people escaped and tried to save their money. (I did something similar in the early 1960s).

They will survive. They will go underground. The government will nationalize everything. They already own a big chunk of the country. Remnant of the fascist era. The rest is owned by the big Northern Italian capital.

In the 1960s the government nationalized an ice-cream maker so they did not have to fire anyone. The workers became government employees. Italy will become a command economy. In the name of what? Why? And the Italians are accepting all this.

They are tired of the weight of history. They will survive again.

More details in my The Peter Dag Portfolio , in Dag's Exclusive Market Alert, and my free educational videos on http://www.peterdag.com/.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest

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