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I'm following a university course these days and the teacher told us that basically genovese people invented modern banking in the 15th century. They just speculated on everything thanks to their harbour which was partly excavated to allow big ships to enter the harbour. At some point in the renaissance period, the Lira Genovese was like the Dollar or the Euro today, until the dutch took over sometime around the 17th century.
I'm following a university course these days and the teacher told us that basically genovese people invented modern banking in the 15th century. They just speculated on everything thanks to their harbour which was partly excavated to allow big ships to enter the harbour. At some point in the renaissance period, the Lira Genovese was like the Dollar or the Euro today, until the dutch took over sometime around the 17th century.
Yes, also the Florentines. Going from distant memory now, I believe the Florentines circulated a gold coin as far as the Netherlands called the fiorino (up till a few decades ago the Dutch florin - or guilder, the Hungarians call it the forint), the Venetians had the ducati, I believe, and I don't remember what the Genoese called their high value coinage. I don't think it was the lira, but maybe it was. You know it offhand? At any rate, they all probably circulated some kind of credit notes as well.
Remember, a financial system is only as good as the transportation (energy) and communications system, and at that time (around 1100-1500) the Genoese and the Venetians, as well as Pisans/Florentines, were masters of the seas.
The seas, not the oceans in the next period, but the seas.
The oceans belonged to the Portuguese, Spanish, French and most of all the British.
Between 2000 and 2007 the world debt has increased for 38 trillion dollars: that means 2,20 $ of debt for 1 $ of 'growth'.
Between 2008 and 2014 the debt has further increased for 49 trillion dollars, i.e. 2,90 $ of debt for 1 $ of 'growth'.
With these parameters there can't be any true growth, it's just a worldwide 'Ponzi scheme' and sooner or later it's going to end.
Between 2000 and 2007 the world debt has increased for 38 trillion dollars: that means 2,20 $ of debt for 1 $ of 'growth'.
Between 2008 and 2014 the debt has further increased for 49 trillion dollars, i.e. 2,90 $ of debt for 1 $ of 'growth'.
With these parameters there can't be any true growth, it's just a worldwide 'Ponzi scheme' and sooner or later it's going to end.
God i'm getting so negative thinking about this.
It seems even debt is so saturated there is literally no room for growth.
And i'm thinking about future, starting business, buying a home....
Between 2000 and 2007 the world debt has increased for 38 trillion dollars: that means 2,20 $ of debt for 1 $ of 'growth'.
Between 2008 and 2014 the debt has further increased for 49 trillion dollars, i.e. 2,90 $ of debt for 1 $ of 'growth'.
With these parameters there can't be any true growth, it's just a worldwide 'Ponzi scheme' and sooner or later it's going to end.
No it's not a scheme. As long as the banks can manage their assets and capital adequacy ratio and don't take unnecessary risks, nothing's gonna happen. Debt is nothing, just a number on a computer screen. As long as you can pay your interests, everyting's fine.
I don't know when the last time there was more money than debt in the world, but that was a long long time ago.
No it's not a scheme. As long as the banks can manage their assets and capital adequacy ratio and don't take unnecessary risks, nothing's gonna happen. Debt is nothing, as long as you can pay your interests.
I don't know when the last time there was more money than debt in the world, but that was a long long time ago.
No it's not a scheme. As long as the banks can manage their assets and capital adequacy ratio and don't take unnecessary risks, nothing's gonna happen. Debt is nothing, just a number on a computer screen. As long as you can pay your interests, everyting's fine.
I don't know when the last time there was more money than debt in the world, but that was a long long time ago.
That would work with responsible actors and with controlled speculations, currently you have neither (on a global scale): the world economy is so involved in finance that the values of derivatives are now several times the global GDP for example.
Secondly, we never got out of the 2008 crisis and there are many clues pointing out that within a year or two another credit crisis will hit the world once again.
Interesting to note, Romano Prodi was the last chief executive of the Italian military/industrial complex founded in 1936. In fact, much of Italy's economic and financial infrastructure was put in place in the 1930s, survived the 1940s mostly intact, did quite well in the 1950s-1980s, and lasted until the early 1990s.
Equally interesting to note is that Mr Prodi was brought down by your boy Bertinotti who subsequently left politics. Isn't that hilarious?
F a u s t o ... I like the way that sounds.
In the meantime, the euro is nothing to brag credit about: equally hilarious, since the "reforms" of the early 1990s and joining the euro, the Italian economy has basically not grown at all.
Talk show indeed.
So we look at the results, Niccolò, we look at the results.
Look, I wish Renzi success and I appreciate his economic policy challenges in the face of the EU Commission and its paymasters on the Council. But in the end, we look at the results, Niccolò, we look at the results.
Good Luck!
See, the problem is that there was never much in the way of cohesion or coherence in the left here in Italy ever since Occhetto. The left has always been split on all kinds of issues. Up to this day, the number of internal political dissidents in PD is astonishing and whoever has sat and still sits left of PD in parliament always brought further problems.
The truth is, that several left wing leader were far too shortsighted
Quote:
Originally Posted by AFP
It is very unlikely he was Genovese there is much more evidence to indicate he was of Sephardic Jewish ancestry.
He could have been of Hebraic faith and Genovese as well. There was a far larger number of Sephardic Jews living in Italian Middle Ages states than there are in the whole of Italy nowadays. Ghettoes can be found in several Italian cities for that reason.
Anyway, i still prefer agreeing with most historians on Columbus ancestry because if i believed Columbus was a Sephardi Jew or a Spaniard i could also believe with the countless thesis according to which Shakespear's name was Filippo Spezzalance
Quote:
Originally Posted by bale002
Yes, also the Florentines. Going from distant memory now, I believe the Florentines circulated a gold coin as far as the Netherlands called the fiorino (up till a few decades ago the Dutch florin - or guilder, the Hungarians call it the forint), the Venetians had the ducati, I believe, and I don't remember what the Genoese called their high value coinage. I don't think it was the lira, but maybe it was. You know it offhand? At any rate, they all probably circulated some kind of credit notes as well.
Remember, a financial system is only as good as the transportation (energy) and communications system, and at that time (around 1100-1500) the Genoese and the Venetians, as well as Pisans/Florentines, were masters of the seas.
The seas, not the oceans in the next period, but the seas.
The oceans belonged to the Portuguese, Spanish, French and most of all the British.
He could have been of Hebraic faith and Genovese as well. There was a far larger number of Sephardic Jews living in Italian Middle Ages states than there are in the whole of Italy nowadays. Ghettoes can be found in several Italian cities for that reason.
Anyway, i still prefer agreeing with most historians on Columbus ancestry because if i believed Columbus was a Sephardi Jew or a Spaniard i could also believe with the countless thesis according to which Shakespeare's name was Filippo Spezzalance
The Genoese coined the Genovino
Well, if the Florentines called theirs the fiorino, it's only fair that the Genoese called theirs the genovino.
As for Columbus, some Greeks claim that he was of Greek origin, putting forth evidence that he - or his family - was a refugee from the Turks and in any case a navigator for hire, so apparently almost everyone in the northern Mediterranean wants to claim at least a piece of him.
See, the problem is that there was never much in the way of cohesion or coherence in the left here in Italy ever since Occhetto. The left has always been split on all kinds of issues. Up to this day, the number of internal political dissidents in PD is astonishing and whoever has sat and still sits left of PD in parliament always brought further problems.
The truth is, that several left wing leader were far too shortsighted
He could have been of Hebraic faith and Genovese as well. There was a far larger number of Sephardic Jews living in Italian Middle Ages states than there are in the whole of Italy nowadays. Ghettoes can be found in several Italian cities for that reason.
Anyway, i still prefer agreeing with most historians on Columbus ancestry because if i believed Columbus was a Sephardi Jew or a Spaniard i could also believe with the countless thesis according to which Shakespear's name was Filippo Spezzalance
The Genoese coined the Genovino
Columbus being the son of weaver doesn't add up he married a Portuguese woman of nobility she would have never married the son of a weaver, but Portuguese nobility did marry New Chrisitians(former Jews that converted). .
Yes I know about the history of the Jews in Italy I carry some Jewish DNA. I have been reading on it for years the Sephardim arrived in the Iberian peninsula with the Romans and half of their DNA was likely from Italian converts. But I don't want to go any more off topic than I already have.
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