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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He graduated in Rome, where he also became an academic, teaching MaritimeInternationalPrivateand Comparative Law. The experiment developed in two phases. Learn how and when to remove these template messages.

Following an intervention by the Guardia di Finanza on a disposition of the Prosecutor of Chietithe SIMeC in circulation, however, were confiscated.

Frasi celebri del Prof. Auriti

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, usually, 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.

Pages needing translation into English.

In this sense, the central banks are private corporations, who according to Auriti derive undue profits from aurlti on the issue of paper money, assuming responsibility for an important source of public debt.

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 giqcinto launched by the Richard Nixon administration on 15 August By using this site, you agree to the Terms of Use and Privacy Policy.

Auriti’s theory viewed the issued banknotes giaclnto mere promissory notes and false bills of exchange issued by the banks. This ideal led to many public initiatives such as reform of the private banking system and the Bank of Italy.

But, notes the Bank, “tickets just produced by the workshop production of the Bank of Italy are a mere commodity owned by the Central Bank, who is directly printing and assume the related costs Article 4, paragraph 5 of Act no. In addition, the Official Gazette, as required by law, such transactions monthly reports. Please help improve this article by adding citations to reliable sources.

Giacinto Auriti | Yashiro and Berenson

On the question of ownership of the money raised by Auriti in the same proceeding, the Bank of Italy said: This article contains translated text and needs attention from someone with dual fluency. This article needs additional citations for verification. Adds that the Bank considered that it itself must bear the cost of manufacture of the tickets and stamp duty, while the annual profits, made withdrawals and distributions mentioned in Article 54 of the Statute are donated to the State pursuant to art.


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Giacinto Auriti was born on October 10, Please see this article’s entry on Pages needing translation into English for discussion. 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.

June Learn how and when to remove this template message. The Bank of Italy opposed the request. 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. It was considered false because the bank promise gold that it did not have. 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.

He became famous for his monetary theory on seignioragewhich sees money from a different view – one that is of the jurisprudence.

On 30 MayAuriti theories were repeatedly referenced in the parliament by Antonio Di Pietrowho was asking for assistance in European fora. Consequently, Auriti wrote, “The vision of the currency and monetary functions which the petitioner intends to credit is clearly distorted and completely unfounded” Giacinto Auriti born 10 October in GuardiagreleRome and died on 11 August was an Italian lawyer, essayist, and politician.

This article may contain an excessive amount of intricate detail that may interest only a particular audience. Auriti was among the founding teachers and was the dean of the faculty of law at the University of Teramoestablished in He is the author of several texts on the subject of Maritime Law.

It, thereafter, transformed the business of issuing currency and further emphasized the conventional nature of monetary value created by the acceptance by the people aurihi this convention. Inhe ran for the elections to the European Parliament on the list “Social Alternative” by Alessandra Mussolini.


Giacinto Auriti

Please help by spinning off or relocating any relevant information, and removing excessive detail that may be against Wikipedia’s inclusion policy. 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 American poet Ezra Pound.

That end up as an asset. Purchasing function and the value of money only when the Bank of Italy markets them and transfer the property to the recipients. Views Read Edit View history. This page was last edited on 18 Novemberat This article has multiple issues. 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 when they issue mutual Italian State and the National Collective, all the money puts into circulation.

Following two bills, on 11 Januarypresented by Senator Luigi Natali and signed by 17 other Senators of the Republic are part of five different parties, ranging from Communist Refoundation to the National Alliance and on 11 Februaryby Senator Antonino Monteleone of the National Alliance, Auriti’s thesis was implemented, even if the Senate does not discuss anything, as totally baseless. He also questioned the legality of the then existing system of monetary emission, leading to the transformation of the Central Bank as the managing body responsible for monetary values and policy.

InAuriti 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.

Unsourced material may be challenged and removed. Please help improve it or discuss these issues on the talk page. Retrieved from ” https: Hence the need for this value, responding to a fundamental public interest, should be defended and guaranteed by public authorities, were assigned to function in modern central banks.

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.

The costs were borne by the same Giacinto Auriti. From Wikipedia, the free encyclopedia. His theory is that those who accept the convention of a currency’s value, giacito the right to own it at its inception the people’s ownership of money.

Despite the subsequent lifting of the seizure, the experiment was stopped.