When Georgy Malenkov took power in Russia in 1953, the Italian Liberal Party, which had become far less influential than previously, fired this rather convoluted pot-shot at him, comparing him with the recently deceased Stalin, and mocking the influence Malenkov apparently wielded over the Italian leaders of the time.
The large chap in red is Malenkov.
The bottom line on the poster translates as "When I say jump, you jump !"

Any more detail from my Italian friends, will be welcome. In the meantime: http://en.wikipedia.org/wiki/Georgy_Malenkov

This ORIGINAL poster has many light creases, and some paper loss, as you can see, but will respond very well to light restoration and linen backing.

I actually prefer its current patina.