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A Crude Look at Money
24 September 2005
Globalisation demands a new international currency. Gold is no
longer legal tender and will not serve.
At present the global currency is debt or to be politically correct
the Global Currency in 2005 is Credit.
Until Credit is created and issued by a single global bank such
as the World Bank, credit remains a difficult and dodgy form of
currency.
The value of credit is largely guesswork which makes for unstable
money markets.
At this particular time we are moving towards crude oil as being
black gold, a substitute for the yellow stuff.
As soon as we see the value of this currency falling through the
floor, as its monetary value goes through the roof, we begin to
see inflation taking a new form.
As we see this happening, aided and abetted by Katrina and boosted
by Rita we begin to see the source of trouble and strife in the
Middle East.
The world's money men, operating from New York, must maintain their
control of the currency. As their hands get dirtier, we might wake
up and embrace the task of monetary reform.
Although it would be difficult to use barrels of crude as a means
of exchange, the truth is that money itself is in fact an idea backed
by confidence and crude is at least a better idea than debt.
We can slurp oil, whereas it is awfully difficult to get the idea
of debt, other than as a treadmill in a prison.
If we wish to continue to put fuel in the tank of our motor cars,
at a price we can afford, then we shall be forced to restore to
our Government the sole right to create and issue new money and
to spend it, instead of lending it. Provided the Government allows
us to explain how this can be done correctly without causing inflation,
the whole world will become a better place as a result
Doctor Edward C Hamlyn MBChB
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