|
« Back to Index
U-turn on Wind Power
We must all back Blair to deal with the energy crisis, if Blair
is really
willing to defy Gordon Brown over wind farms.
Gordon Brown must have wind farms in order to raise money and hide
his
financial predicament.
We have no option at this time, for our future energy requirements,
other
than nuclear power, but with certain conditions attached.
First and foremost is a new look at the matter of funding new nuclear
power
stations.
New money will be required. Money which does not yet exist.
Vast quantities of new money will be needed. Money that will be
beyond the
wit of Gordon Brown to conjure out of thin air.
Labour will resort to asking the private banking fraternity to
provide the
new money as credit. Labour has no other option, according to the
very best
economic think available.
But that is untrue and is a myth we have lived with for too long,
300 years
in fact.
Ever since King William ran out of money to pay his soldiers, while
fighting
the French, bankers have had the right to create and issue new money,
under
the Tonnage Act of 1694.
Today, the bankers issue new money as credit, so that they can
charge
interest for the use of the new money and demand repayment with
old-style
money. A highly profitable transaction which makes the credit industry,
Britain's biggest money earner. The bankers are paid twice for the
same
issue of credit.
To obtain new money by this route is bound to cause inflation,
which the
bankers control with interest rates. If the Government regained
its sole
right to create and issue new money and broke the bankers monopoly,
there
are circumstances under which the creation of new money could not
be
inflationary.
For example if a power station could claim to create more wealth
than it
cost to build, then if the money to build were spent wisely and
well, new
money needed to build the station, would not cause inflation, if
created and
spent by the Government. Issued as credit by the bankers, new money
cannot
do other, than contribute to inflation.
A great deal of rethinking will be required to discover this hidden
source
of funding.
Doctor Edward C Hamlyn MBChB
|