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Letter to: Richard Lambert. Director General. CBI Centre Point.
London
26th November, 2006
CBI Centre Point
Dear Mr Lambert
David Cameron is of the opinion that the City and its ability to
create
enormous wealth for Britain, is possibly our most successful industry.
I am
sure he would also regard the credit industry in the same manner.
Of course he is not alone in that belief and it might well be,
that you
share with him this strange slant on the word industry.
But the CBI should know what the word industry stands for. Let
me take you
back to basics and state that economics is the study and practice
of the
creation, distribution and consumption of goods as needed for our
survival.
Britain certainly knows how to create and to consume, but fails
miserably on
distribution. On the one hand we have enormous surpluses of products
and
enormous inability to purchase. We allow whole nations to die of
starvation
and preventable diseases. Purchase is part of distribution. We rely
on money
as our means of exchange and fail to even possess a workable definition
of
money. We solve that problem by making credit synonymous with money.
We then
compound the failure by making debt synonymous with credit. We arrive
at the
assumption that debt and money are the same thing. We have hedge
funds and
we have the City of London masquerading as an industry.
As my MP tells me “Doctor Hamlyn that trick with money makes
us all very
rich. So shut up and do not rock the boat”.
Disaster stares us in the face if only we were wise enough to open
our eyes
and see. In the first place we have on the Statute Book the Tonnage
Act of
1694, which allows the bankers to create and issue new money as
credit.
You know, that unless a business is financially viable it will
not survive.
Viability entails growth. That which cannot grow dies. For an economy
to
flourish and prosper it must have a method of increasing its money
supply,
to service growth.
We make the mistake of trying to borrow new money into existence
and in so
doing we go for ever deeper into debt. We become enslaved by debt.
We come
to work for the money lenders, instead of working for ourselves
and our
family. We also allow a whole upper strata of society to cream off
the
wealth we create, without them having to lift a finger to help create
it.
To take, without doing anything in exchange, is in reality, in
the real
world the same as theft.
Thieves are criminals. We put criminals at the top of our heap
and wonder
why life is a mess. Look no further. What ever you see in this civilisation
which is not optimum can be ascribed to this form of criminality.
Try to
find for me an example of some bad condition, which cannot be traced
back to
the abuse of money. Abuse of money is all pervasive and will destroy
life on
this planet, unless we correct what is wrong. But first we must
see clearly
what is wrong and then the job is almost done. Because it is doable,
we must
do it. We have no option.
Doctor Edward C Hamlyn MBChB
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