October 22, 2007 (LPAC)--At the G-7 meeting of Finance ministers and central bankers, Mario Draghi presented a report on the systemic crisis which, according to Il Sole 24 Ore, completely ignores the reality of the ongoing collapse. Of course, in private discussions at the G-7, those government officials and bankers might have said something totally different.

Remarkably, the last section of Draghi's report is a total acquittal of the role of the hedge funds, which, according to Il Sole, "have not revealed themselves to be one of the main problematic elements for the whole system, as one might have expected".

One could not have expected anything else from former Goldman Sachs banker Mario Draghi. However, as a central banker and a regulator, Draghi should be held accountable for false statements and criminal mismanagement, if legislators at home implemented constitutional law.

Instead, rumors are circulating in Rome that none other than Mario Draghi could replace Romano Prodi, as the oligarchical powers controlling the parliamentary system could decide to dump Prodi for a technocratic "transitional government." The visible leader of the plotters is the aristocratic chairman of the Industrialists Association, Luca Cordero di Montezemolo, a schoolmate of Draghi's. Draghi has recently positioned himself against the government by publicly rejecting the budget law on the ground that money is allocated for social improvements instead of debt payment.

As an indication of that plot, some observers point at State President Giorgio Napolitano, who praised Draghi after Draghi's attacks at the government. In case of a government crisis, Italy's State President gives the mandate to a new Premier, supported by a parliament majority.

Draghi is a former deputy chairman of Goldman Sachs Europe; Romano Prodi is a former advisor for Goldman Sachs as well, but as Prime Minister he is prisoner of majority decisions which are influenced, among others, also by anti-free market forces. In fact, Draghi has been accused of "destabilizing" the government by deputy minister for Economic Development, Alfonso Gianni, a member of the leftist party PRC.

So far, Draghi's candidacy has found a few public supporters and many opponents, notably among the opposition. This is not unrelated to the fact that among political circles, Draghi has been discredited by EIR as "Mr. Britannia," since that infamous day of June 2, 1992, when he went on board of the British Royal yacht to please City bankers with promises of privatizations, which he then delivered in the following years.