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Giacinto Auriti’s “economic symbol of inducted value,” or the simec, is used as currency in Guardiagrele, Italy, producing a frenzy of consumption and disdain for . Scuola Giacinto Auriti. K likes. Sito internet: Canale you tube: Scuola Giacinto Auriti added a new photo. See more of Scuola Giacinto Auriti on Facebook. Log In. Forgot account? or. Create New Account. Not Now.

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From Wikipedia, the free encyclopedia. This article has multiple issues. Views Read Edit View history. Hence the need for this value, responding xuriti a fundamental public interest, should be defended and guaranteed by public authorities, were assigned to function in modern central banks.

That end up as an asset. The Bank of Italy opposed the request. So-called “abnormal and far-fetched” theory Auriti for which “there is a tradition of interpretation in violation of law, under which the central bank giacnto they issue mutual Italian State and the National Collective, all the money puts into circulation.

On the question of ownership of the money raised by Auriti in the same proceeding, the Bank of Italy said: Giacinto Giacunto was born on October 10, Auriti’s theory viewed the issued banknotes as mere promissory notes and false bills of exchange issued by the banks.

Consequently, Auriti wrote, “The vision of the currency and monetary functions which the petitioner intends to credit is clearly distorted and completely unfounded” Auriti was among the founding teachers and was the dean of the faculty of law at the University of Teramoestablished in In the last period of his life, despite never having formally studied economic theory, he started teaching the subject and covering topics raised by the Tiacinto poet Ezra Pound.

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Frasi celebri del Prof. Auriti

The entry ticket is with operations that the Bank independently concluded ” with the Treasury, with the banks, with foreign countries and with the money and capital markets, provided all operations and fully regulated by law and the Statute of the Bank of Italy Articles 25 to 42 of the Act no.

Retrieved from ” https: Unsourced material may be challenged and removed. Second, was the creation of an Income for the Department of Citizenship to promote ‘initiative’, which was moderately successful, because SIMeC were sold at par in exchange for pounds and withdrawn twice the original value. The experiment developed in two phases.

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Please help by spinning off or relocating any relevant information, and removing excessive detail that may be against Wikipedia’s inclusion policy. This article contains translated text and needs attention from someone with dual fluency. These assets are recorded as assets or liabilities in the accounts of the Bank who purchases or receives in return pledge assets or securities bonds, currencies, etc.

He pioneered monetary law as an academic discipline in the University of Teramo—developing an economic theory that outlines how currency – as a measure of value and as such conventionally accepted by those who use it as a medium of exchange – is a “tool” for the exchange of goods the theory of the induced value of money. First, the starter served to enter the SIMeC-use community that induced value that objectifies as a real asset, being owned by the carrier making it a parallel currency.

This theory draws more power from the abolition of the direct relationship between money convertible into gold and gold reserve, established by the Bretton Woods initiative launched by the Richard Nixon administration on 15 August Following an intervention by the Guardia di Finanza on a disposition of the Prosecutor of Chietithe SIMeC in circulation, however, were confiscated.

Giacinto Auriti | Yashiro and Berenson

InGiwcinto together with the help of mayor of the Democratic Party Mario Palmerio conducted an experiment in his hometown Guardiagrele by launching an alternative currency known as SIMeC, [3] in order to prove his theories on the creation of value of currency by nationality.

Despite the subsequent lifting of the seizure, the experiment was stopped. In this sense, the central banks are private corporations, who according to Aurriti derive undue profits from seigniorage on the issue of paper money, assuming responsibility for an important source of public debt.

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Purchasing function and the value of money only when the Bank of Italy markets them and transfer the property to the recipients. He became famous for his monetary theory on seignioragewhich sees money from a different view – one that is of the jurisprudence.

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Giacinto Auriti

On 30 MayAuriti theories were repeatedly referenced in the parliament by Antonio Di Pietrowho was asking for assistance in European fora. It was considered false because the bank promise gold that it did not have.

It, thereafter, transformed the business of issuing currency and further emphasized the conventional nature of monetary value created by the acceptance by the people of this convention. Please help improve this article by adding citations to reliable sources. Please see this article’s entry on Pages needing translation into English for discussion.

He also questioned the legality of the then existing system of monetary emission, leading giacinho the transformation of the Central Bank as the managing body responsible for monetary values and policy.

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Inhe ran for the elections to the European Parliament on the list “Social Alternative” by Alessandra Mussolini. In addition, the Official Gazette, as required by law, such transactions monthly auritk.

The Bank of Italy posited that the coinage is an expression of state sovereignty, and therefore “the value of the currency draws its basis only and only by rules of the road, which, giacinti, regulate in detail the creation and circulation of currency shall stipulate the discharging effect, punishing the failure to accept it as payment and protect the public trust against the falsification and alteration.

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