Click here for Full Issue of EIR Volume 48, Number 8, February 19, 2021 III. Central Banks’ ‘Regime Change’ New Prime Minister Mario Draghi Plans ‘Great Reset’ Destruction of Italy by Claudio Celani Feb. 15—One step towards the implementation of a “regime change in monetary affairs,” as discussed at the central bankers’ meeting in Jackson Hole, Wyoming on August 22, 2019, has now been implemented with the creation of the new Italian government. On Satur- day, February 13, Mario Draghi, former President of the European Central Bank and a former Director of Goldman Sachs International, was sworn in as the new Italian Prime Minister. He immediately announced his team of ministers, stuffed with bankers and technocrats in the key posts, ready to implement “Great Reset” pol- icies, as explained by Draghi himself. “This will be an Environmentalist government,” Draghi said at the onset of the first cabinet meeting. Draghi’s agenda, welcomed by a riot of excitement by European Union (EU) leaders and bureaucrats in Brussels, Frankfurt and Paris, as well as by the main- swiss-image.ch/Monika Flueckiger stream media, aims at implementing a Schachtian Mario Draghi, Italy’s new Prime Minister: ready to implement the central bankers’ ‘Great Reset’ policies. policy of public spending and incentives, aimed at fa- voring “decarbonization” of the economy. In other from that group in 2018. Draghi did not resign. He pre- words, using “creative destruction” methods and im- sented the 2020 report on December 14, 2020. plementing a triage of the physical economy—already The concept of “creative destruction” is the leit-mo- battered by the economic consequences of the pan- tif of the report, and Mario Draghi himself stressed it in demic—Draghi will make sure that only those compa- his presentation. The world economy is on the edge of a nies that are “sustainable” in a carbon-free economy cliff, Draghi said. Whereas in the first phase of the pan- will survive, and the rest should die. demic crisis the problem was liquidity, the coming Draghi explained this in the presentation of the 2020 crisis will be over insolvencies. Governments won’t be report of the Group of Thirty (G30), titled “Reviving able to bail out all activities and therefore they must and Restructuring the Corporate Sector Post-Covid: choose who should live and who should die. Designing Public Policy Interventions,” which he had “This may require a certain amount of ‘creative de- chaired last December. (The G30 is a gathering of struction’,” the report says, referring to the concept former and current central bankers, together with mem- credited to Joseph Schumpeter, according to which bers of the academic and private banking sectors. Mario “market laws” demand that companies not fit to survive Draghi’s membership of the G30 was seen as a conflict in the struggle for economic evolution, must die in of interest with his job then as a European central order to give place to more competitive ones. In reality, banker by the EU ombudsman, who asked him to resign the man who first promoted the concept of “creative 28 Choose the Future EIR February 19, 2021 © 2021 EIR News Service Inc. All Rights Reserved. Reproduction in whole or in part without permission strictly prohibited. destruction” was a Marxist-turned- Deputy Governor of the Bank of Nazi named Werner Sombart (1863- Italy. As Minister for Technological 1941). Sombart correctly credited Innovation and Digital Transition, Friedrich Nietzsche with the origin he chose Vittorio Colao, a former of the term, and the concept, of cre- Morgan Stanley investment banker ative destruction, and passed it along and former Vodafone Italia CEO, to Schumpeter. who lives with his family in London. Sombart, who was denounced by The main innovation, however is Rosa Luxemburg as a one-time the creation of the “Ministry for Marxist who became an apologist Ecological Transition, Environment for German imperialism, was a close and Recovery Plan,” which is sup- friend of both Hitler’s “Crown posed to include energy policy and Jurist” Carl Schmitt and the Nazi oversee so-called Green invest- Party’s semi-official philosopher, ments, which are supposed to be co- Martin Heidegger. (See the article, financed by the EU Resiliency and “Nietzsche, Sombart, Schumpeter, Reconstruction Plan. Heading the and Fascism: Why Obama Wears the new ministry is Roberto Cingolani, a Moustache,” by Jeffrey Steinberg, Niccolo’ Caranti nanotechnologist who is currently Michele Steinberg, and Nina Ogden, Enrico Giovannini, another climate- Chief Technology and Innovation change fanatic, will be Minister of in EIR, August 27, 2010.) Infrastructure and Transportation under Officer at the defense industry multi- The term “creative destruction” Draghi. national, Leonardo S.p.A. Cingolani appears six times in the G30 report. is a supporter of the climate-change Here is a quote: ideology and has called, among other things, for reduc- ing production and consumption of meat to avoid cow- Attitudes toward firm failure and employment: flatulence-induced global warming. Policymakers will vary in their weighting of Another key post for the Recovery Plan, Minister of preserving the status quo and existing jobs, Infrastructure and Transportation, went to another cli- versus allowing or encouraging the process of mate-change fanatic, Enrico Giovannini, a statistician “creative destruction,” in which firms fail, al- and former minister who accompanied Swedish child lowing jobs and resources to flow from unsuc- activist Greta Thunberg to Rome in April 2019, intro- cessful firms to ones that are better suited for the ducing her as a lecturer in the Italian Senate. Giovan- new economy.... nini is a member of the Malthusian Club of Rome and has co-authored a Great Reset manifesto which claims The “new economy” that firms should be suited for that the Green Transition is the continuation of U.S. is the one whose blueprint has been laid out in the Great President Franklin D. Roosevelt’s’ Economic Bill of Reset scheme promoted by the British Crown and the Rights! The manifesto, titled “After the Crisis: Two World Economic Forum, or the Green Deal pushed by Possible Futures,” is so clumsily illogical that it is not the EU Commission, or the Green New Deal pushed by even worth a refutation. U.S. President Joe Biden’s team. As EIR has repeatedly Other major administration posts such as Justice explained, this will promote unproductive systems and Interior (police) went to public servants, while under the ideological banner of “climate policies,” eu- Luigi Di Maio (M5S), Lorenzo Guerini (PD), and Ro- thanizing high-density, carbon-related modes of pro- berto Speranza remain at Foreign Affairs, Defense, and duction. Health, to guarantee continuity. The minor posts went to political factions that support the government (almost A Collection of Hitmen all major parliament factions: Democratic Party, Lega, Draghi picked up a team of trusted hitmen for the Liberi e Uguali, Forza Italia, Italia Viva and M5S), with job. As Italy’s Finance Minister, he chose another cen- the rightwing party Fratelli d’Italia deciding to stay in tral bank official, Daniele Franco, currently Senior the opposition. February 19, 2021 EIR Choose the Future 29 chair Ursula von der Leyen at the European Par- liament. Backed by the new majority, the Conte government had endorsed all decisions coming from Brussels, from the reform of the bank- bailout scheme ESM (European Stability Mech- anism) to the Next Generation EU so-called “Resilience and Recovery Plan.” However, the catastrophic management of the COVID-19 emergency and related relief measures, a paralysis of investments, and a messy management of fiscal policy, all se- verely eroded popular support while also caus- ing quite a concern in Brussels that the situa- tion could get out of control. The Conte government was judged to be not strong Government of Italy enough to implement measures as unpopular as Former Prime Minister Giuseppe Conte, whose government was judged those envisioned by the EU “Zero-Carbon” not strong enough to implement the unpopular zero-carbon transition envisioned by the EU. transition. Indeed, a Deutsche Bank official has spilled With almost all parliamentary factions supporting the beans that the transition requires an “ecological dic- him, Draghi is supposed to get a large vote of confi- tatorship.” In an article posted on the website of dence by Parliament next week, even if the largest fac- Deutsche Bank Research Unit on November 11, 2020, tion, M5S, is deeply split, and many representatives titled “Climate Neutrality: Are we Ready for an Honest have announced a contrary vote. Discussion?” Eric Heymann wrote: The Draghi Option Was Cooked Abroad A certain degree of eco-dictatorship will be nec- This is not the first time that a former central banker essary. has become Prime Minister in Italy. The impact of the current We have the precedents of Carlo climate policy on people’s ev- Azeglio Ciampi (1993-94), Lam- eryday lives is still quite ab- berto Dini (1995-96) and Mario stract and acceptable for many Monti (2011-13) who, although not households. Climate policy being a banker, fits in the same cat- comes in the form of higher egory of non-elected financial tech- taxes and fees on energy, which nocrats. This time, however, it is make heating and mobility different because of its agenda and more expensive. Some coun- the international context. tries have set minimum energy It looks like the same forces efficiency standards for build- who had created the second Conte ings or similar rules in other government in 2019, have now de- areas. However, climate policy cided to flush it and replace it with does not determine our lives…. a Draghi cabinet. Giuseppe Conte If we really want to achieve had formed a pro-EU government climate neutrality, we need to by replacing the sovereignist Lega change our behavior in all party with the Democratic Party.