There is a book that came to my mind by reading the recent financial chronicles of the Italian Republic. In recent years our treasure has launched several Bond loans aimed at the public of savers.
These “tweets” by Einaudi are collected in a magnificent anthology made by Rubbettinotitled Praise of the penalty and cared for with wisdom and late Corrado Sforza Foglianabout a luster ago. “Every day, if you go to the branches of the Bank of Italy you can buy not only treasure vouchers at three or 5 years but also good ordinary … they are bearer, comfortable, pocket -sized if bent halfway. They are delivered immediately, against the payment of the amount. They start from any date. They are of fixed amounts. The interest is 4% for three months vouchers of 4.75% for six months of 5% vouchers for 9 and 12 months vouchers.
You would earn from one to 3% of more interest. If you cannot personally go to the issue bank in charge of the operation your banker or exchange agent. You will make a good deal And you will give a half the state of not printing any other tickets, which make the price of all things come down. Perhaps the state can collect a part of the tickets issued and so the prices will relax. And you will do this, together with all the others, a second good deal ».
Einaudi in dozens of warnings explains The goodness of private savingsadvertises the five loans to the homeland to face the war, clearly explains the functioning of interest rates e the madness of rotating one’s savings And above all it makes the general public understand how to print money both inflationary activity, and in the end it harms everyone.
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