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The Conservative Party and Monetary Reform

The Tories have always opposed open government. Margaret Thatcher said a “Freedom of Information Act! over my dead body!”.

We now know why. Labour accepted from the Tories the secret mandate given to the bankers to create and issue new money as credit.

This makes the bankers supremely powerful. They head hunted Blair on account of his innate tendency to do their bidding. If he fails to get Britain into the euro, Blair will be replaced by someone eager to do so. Such as Kenneth Clarke, if he had been willing to stand.

Bear in mind it was David Davis MP who got Britain to sign the Maastricht Treaty. David Davis is now well placed to take over from Tony Blair and do the bankers bidding.

By creating new money as credit, Britain is driven ever deeper into debt. We now use credit instead of money as our currency. We now use the word credit as the politically correct word for debt.

There is no way that credit can be saved for future use. We have no way of making provision for a pension. Nor has the Government.

When additional new money is required by the Nation, for the creation of future wealth, the only way, which is now accessible to the Government, to create that new money, is to borrow new money into existence. Bankers now have a monopoly on the creation of new money and they issue the new money as credit.

As a result any project, such as building a nuclear power station for the future supply of energy for the Nation, can only be done with new money borrowed into existence, on which interest must be paid and the loan redeemed, with the wealth created by the use of the power generated. More new money is then needed, to decommission the power station at the end of its useful life.

Building wind farms, with the sole purpose of creating new money, by borrowing that money into existence, can be seen as fraud which will mar our landscape.

The bankers hold onto this monopoly, by enforcing agreements that Governments cannot be trusted to create, issue and spend new money. There is now a consensus that Governments automatically create and spend too much new money too fast and cause inflation.

Close to home, even causing inconvenience to Lord Eddie George, is the inability of the Government to create and issue the few new pounds, to pay for a night sleeper, twixst London and Penzance. There are wealth earners who need sleep in order to work but who also need to travel. New money created by the Government to cover the cost, would more than redeem the cost with the wealth created.

This would be such a simple and obvious way to break an ancient mind set and show that it is possible for the Government to create new money and spend it, without harm to the economy.

Being so heavily in debt, as a result of borrowing new money into existence, all sorts of false economies are forced upon the Government, which destroy our ability to create wealth and drive us further into debt.

We import cheap meat from abroad, knowing it is contaminated with Foot and Mouth Disease and then spend millions if not billions of pounds destroying our livestock industry with a massive cull.

The Government tolerates a monetary system in which economic progress is financed with new money borrowed into existence. New money is needed to build new sewage works, to re-create and/or maintain ancient sewers and sewage works. These are dire necessities, the infrastructure of wealth creation. But the Government cannot be trusted and new money must be accepted as credit from the bankers. Council Tax goes through the roof. We are threatened with civil unrest and rebellion.

New money was needed to build railways, and is still needed in vast quantities to maintain the railways. But all that new money was borrowed, because the Government could not be trusted.

Road works at Stonehenge, needed by the Nation and a by the whole world, as our heritage, runs up against the bankers monopoly on the supply of new money and we manage to imagine, that we cannot afford to defy the mythology of inflation.

The list of such gross abuse of common sense is endless.

Unless we Tories bite the bullet and tackle the strangle hold of the bankers, we do not deserve to win the election and I do not think we shall.

Doctor Edward C Hamlyn MBChB