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Letter to: Ian Cowie. Personal Finance Editor Daily Telegraph Business, London

25 November 2006

The Pensions Timebomb

Dear Mr Cowie

The fact that young people will be paying tax in order to give older generations pension rights which they cannot afford for themselves, is the stuff that revolutions and civil wars are made of. It will become a straight forward and easily seen form of financial corruption. We do not enjoy discovering that a penal level of taxation is paying for other people's crimes. Just because we are blind to those crimes today, will not soften the blow in the future.

It would help enormously if financial commentators in the Press knew and understood the nature of this criminality and exposed it now, condemned it now and gave us a chance to correct it.

We allow new money to be issued as credit. Which has become the politically correct way to say that we use counterfeit money as our currency.

There is no honest method of investing debts, so as to pay for a future commitment. Unfortunately it is done all too readily, by financiers who have been schooled in the art of swindling us.

They start from the trick of changing the meaning of words. The word credit becomes synonymous with money.The word debt becomes synonymous with the word credit. Debt is the same as money and can be manipulated, in such a way as to pay for a pension.

All this sounds like gobbledegook and falls upon deaf ears.

We run into a phenomenon, which can hide a crime for hundreds of years

The phenomenon is this. It is virtually impossible to understand what you cannot believe. That which you cannot believe you cannot understand.

For example during Hitler’s regime, the German people would not believe that the Jews were going off in trains to a gas chamber. It was impossible for the German people to understand why their Fuhrer would do this. For the German people the Holocaust did not happen until it was done.

The South Sea Company bubble and the French Mississippi Company bubble did not happen until they were history. Creating new money as debt has been in progress for over 300years and is flourishing today as never before. On this occasion there is no bubble. We are quietly sliding ever deeper into debt slavery. Soon the doors of Press freedom will be closed tight for ever and our last chance to escape a financial holocaust will have gone. Discuss this letter with your colleagues and notice that it will be dismissed as rubbish.

Doctor Edward C Hamlyn MBChB