Wednesday, August 24, 2011

It was better when they turned bad checks

Cospa Abruzzi: it was better when they turned bad checks
August 23, 2011
(translated from Italian poorly into English by Babelfish)

All speak about the crisis, from the most picked to more ignoring, from richest to poor and thus via saying, but nobody has understood truly which it is the financial cause of this disaster, many less political You than turn, indeed of alternated turn.

We are sure that none of you is to acquaintance of the second currency, that which came used from the small and average enterprise. This virtual currency allowed the Italian entrepreneurs to survive by autofinanziandosi, an effective and fast method, a system that the banks would have to put into effect for the resolution to this damned crisis, than with a next effect dominates door to touch the bottom to all. A currency parallel to that be them that it gave wide breath to the entrepreneurial world to which approached with simple banking transactions, now has been abolished from the bureaucrats, unaware of of what it could happen. In truth it was not a lawful method, however it works them that she allowed anyone was in difficulty, to resume itself in case of lacked gain for causes act of God.

“The second currency is not other that the bancari checks and I will pay puttinges in circle.”

These titles them, to time issued ones came turned in order to pay the creditors, than to they they yielded them to time in payment to others, until and to exhaust the space for the turn, in this way, in the time had created a system parallel to that lawyer. At last, the titles them after to have girovagato in the entrepreneurial world, it re-entered in payment near the credit institutions after varied months. This second currency came used for the management of the companies, while the legal currency, came used for the payment of the taxes or other services. The checks once puttinges in circulation, before being embedded passed several months, once re-entered to the institute, the account holder had all the time necessary to honor the title it in liquidity lack on the account. What that now is not more possible. This allowed the companies that crossed a period of lean, to simply exceed it with a check turn between friends. The banks were to acquaintance of the situation, but for having the situation under control, they have taken agreements to the aim to force the entrepreneurial world to abandon the turns on the titles them, with norms established from the credit institutions. These normative new have put out of service the second currency, that flebo that it held the Italian economy while still alive, not understood from who perceive the wage of true money. Today, with ignoring politics, far from the entrepreneurial, far world from the requirements of the citizens, the Italians find again themselves without money for guilt of who did not know the existence of the second currency. That virtual currency that for decades has allowed the economic development of Italy.

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