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Letter to: Katherine Griffiths. The Daily Telegraph. London
13th July, 2006
Money for Nuclear Power
Dear Miss Griffiths
£30 billion needed from private investors. Nearly all of
those investors will be foreigners. We shall not own our own power
industry, anymore than we own the source of British Gas.
“It is not a question of whether money is there, it is there
all right, but in what form?” It will need to be cheap money,
that is for sure. What do we mean by cheap money? Cheap money fired
the housing boom. Cheap money is new money issued as credit.
How do you build an empire with cheap money. Ask Tesco! Tesco has
unlimited access to credit and is going all-out for its global share
of the retail market. As did Murdoch, build his empire etc. Ask
Tesco, is the money there? Why! Certainly!, no question about that.
But don't ask what happened to British China Clay. Foreign investment
of course. Look at it now! Why not ask, why is it good financial
policy to have an infinite supply of credit, but financial suicide
to have money instead.
Our Government could mint or print or somehow create, all the money
we need to create nuclear power. Tony Blair is refusing to do that,
and is offering Britain for sale to foreigners instead. The City
is delighted.
All this looks quite civilised, though we have found in the past
that these predictions of how much these gambles will cost us, tend
to become over-budget and way beyond dead line. It may be better
to guess and talk in terms of trillions instead of billions.
The worst possible thing we could do, is to go belly-up and settle
for windfarms. Windfarms are purely and simply, a dishonest method
of getting credit laundered into money. I could explain in detail
if needed. It is a very tall order for me to expect you to pay heed
to a voice crying from the wilderness. I live on Dartmoor.
From your lofty perch in the world of high finance, it is virtually
impossible for you to view the global economic scene from outer
space and see its basic flaws. But you would have great fun to do
so and to start wagging the dog. I am very specially privileged
in my knowledge of the whole scene, having once worked from inside,
without having signed the Official Secrets Acts. So be it. I do
not need to contaminate you with what you should not know, but it
would be fun to join me in correcting what is wrong, without having
to bother with classified information.
Perhaps if you visit my website and download the money textbook,
study it well enough to cognite and then look at some of my comments,
on current affairs. You will begin to glimpse a view from outer
space.
Doctor Edward C Hamlyn MBChB
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