The New Italian and British Empires

Point 5 of the 29 points of the contract for the new government of Italy agreed to by its two leaders DiMaio and Salvini is a new radical step towards a revolutionary new role for all states. It sets up a “bank for investments” that finances “initiatives of public and strategic national interests” and supplies “credit for companies operating in developing Countries”. This is what China is already doing globally on a massive scale. The Chinese government itself is creating the capital and investing it globally through companies under its direct control. If China can do it, any state can do it. And if we read the trends correctly, every state now must do it. Why should Italy not use its banks and tax collections to create capital for profitable investments worldwide that benefit Italians? Why should not the American state I live in, Massachusetts, do the same? Up till now, the game of looking everywhere for profitable investments has been exclusively under the control of private individuals directing corporations. Point 5 looks like a game changer for Italy. Remember when Italy under Mussolini found it profitable to invade Ethiopia? That game is over. China has already invaded Ethiopia with investments using capital created by its government. Italy’s government can now do the same. It can fund enterprises run by Italians and send them off worldwide looking for profits for Italians. The only problem is that Italy or Massachusetts, as states in unions of states, do not have their own currency like China and their money supplies can not easily be increased to create new capital for investment. This means that neither Italy nor Massachusetts can be major players in the new game like China unless they are given the power by the central governments of their unions to freely create and invest new capital. This also means among other things that Britain, the UK, with its own currency and the freedom to act in its own interest by its brexit from the European Union may be the only honcho that can fight meaningfully with the Chinese for the new empires of the future created by state-supplied capital. The political leaders of the UK are in a position to create a new British Empire by providing their citizens with state-created capital to invest globally rather than as in the past by invading foreign states using gunships.

Daniel McNeill usoftheworld.com

The United States of the World, The Theater of the Impossible, The End of All Beginnings, books by Daniel McNeill, are for sale at:amazon.com/author/graceisall