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The Changing Face of Bankruptcy
A gentleman's word is his bond
But in Britain today, one gentleman every minute, breaks his bond
and is
declared bankrupt. Gentlemen do not change, but bankruptcy does
change
completely. In the old days, debt meant money owed and a gentleman’s
bond
was a promise to pay what he owed.
But not any more.
Debt now means something entirely different. “I don't mind
being swindled,
because it is now the fashion. I am as free as a bird to shrug off
your
swindle. We now have no choice but to accept credit as a loan of
money. Be
swindled or starve, take your choice. If you need money and there
is none,
but there is an infinite source of credit, you take credit, naturally,
why
not.”
It is your duty to survive and not just kick the bucket.
So when the banks foreclose, it is not your shame, it is the shaming
of the
banks. Perhaps you are none too clear as to what I am saying, but
you know
full well, that using a stack of credit cards, with which to emulate
the
millionaire, is just a new-fangled computer game and quite meaningless
and
therefore harmless. Of course you are absolutely right and I will
tell you
for why.
Economic growth these days, is a wonder to behold and can only
occur because
we have found a way to put additional new money into circulation
by the
bucket full, with out causing inflation.
We do this by asking the bankers to transform credit into money
and then
compel us, to launder the credit and turn it into money. We are
forced to
borrow new money into existence, we are the ones who accept credit
as new
money.
Because the Government allows the banks a monopoly on the issuance
of new
money, which must be issued as credit. This is fraud, this is a
swindle and
the Government has made it legal.
But it changes the whole significance of going bankrupt. You fail
to do the
impossible. You fail to turn credit into money. You know the banks
are
ripping you off and making vast profits, by so doing, but all this
data I am
giving you is kept secret. Not a whisper from the Press or from
Panorama.
But plenty of complaints, concerning our lack of prudence, our
greed as
profligate consumers and our insouciance concerning credit.
The remedy is simple. Restore to Government the sole right to create
and
issue new money, and instruct the Government how to do so correctly.
Doctor Edward C Hamlyn MBChB
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