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The Chilling and Icy Truth Concerning Money

9th June 2005.

Our Government approves of new money being issued into circulation as credit by private banks.

Perhaps we think of new money as being clean banknotes. We know that as our bank notes get filthy, tatty and torn, they go into a furnace and are replaced by new bank notes.

But that is not new money, it is refreshed money.

If you had a printing press in your garden shed and printed new money into existence as forged bank notes, you would become a criminal and end up in prison.

New money brought into existence by any other authority than the Crown or the Government must be designated as an imitation of real money.

Money created with intent to deceive, is counterfeit money by definition. Look up the word counterfeit in the dictionary.

Counterfeit money is created by criminals.

But paper money or bank notes, as we call those slips of paper, are only about five per cent of the total money supply.

That might be a surprise to some people. At the cinema when we see stolen money, it is in a black briefcase, packed with wads of bank notes.

If you think about it, this is something you never see in real life.

When you buy or sell a house, you do not set eyes on the money. The transaction is not done with bank notes.

You know that perfectly well. Even if you personally have several thousands of pounds in the bank, to pay as a deposit on the house you are going to buy, you will not actually set eyes on those bank notes.

You have never seen that money in your bank after you put it there. You know it is there, by looking at your bank statement.

To all intents and purposes your money only exists as a ledger entry in a ledger owned by the bank.

But that is ancient history, that was before we had computers.

Now we use electronic money, which is money that only exists as a computer entry, tapped into existence on a keyboard.

If you grasp the enormity of what I am saying, you will gasp and say to yourself, "How on earth can such a monetary system be free of fraud".

Well gasped! Go back to the first words of this essay. Our Government approves of such fraud. New money is only credit.

Now, instead of bothering with the wee bits of money that are used to buy a house, let us look at the trillions of pounds, of dollars, of yen's, of francs etc, which whiz around the world in seconds, in the global money markets. It is not difficult for you to realise, that if you personally were in on that game, and knew how to play it, you could get obscenely rich in next to no time.

Rich with credit. The computer entry we call money is actually an entry of credit.

They buy and sell credit in the money markets. The credit is now another name for debt. They buy and sell debts.

If that is not a cunning method of creating money with intent to deceive, we are being blind, stupid or criminal.

Add in that other little nasty, attached to using such counterfeit money as our currency, and you have the real why on almost everything wrong with our civilisation.

We pay interest for the use of credit. There, is a stealth tax to make even a banker blush.

Doctor Edward C Hamlyn MBChB