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Letter to: Gary Streeter MP.
The House of Commons.
London SW1A OAA
23 June 2006
Water Leakage
Dear Gary.
On Wednesday evening, during Jeremy Paxman on BBC2 Newsnight, he
interviewed
a spokesman for water, concerning the leakage of water from water
mains in
London.
This antique system, some 150 years old, is beyond repair and needs
to be
renewed at enormous expense, with new money specially created for
that
purpose.
Unfortunately, we have given London's water to Germany, which sells
London's
water to us at enormous profit. The German firm is fined for failing
to stop
the leaks and will pay the fine by increasing the cost of the water
to the
consumer in London.
As a result of the German firm’s failure to handle its leaks,
the consumers
of water in London, will be using standpipes as they pay for the
fine. All
this trouble is due to off loading the liability of pipe repair,
to a
private firm, which knows how to turn a lost cause into private
profit. Just
one manifestation of dishonest economics, which you defend as being
good
politics.
If we decided to switch to ethical economics, we would restore
to Government
its inalienable right to create and issue new money, to finance
essential
and vital utilities, that are the legitimate responsibility of Central
Government.
Private banks would not be allowed to make enormous profits by
issuing new
money as credit.
You refuse to see the wisdom of ethical economics as pertinent
to your
constituency, but when you see on the front page of Thursday’s
Daily
Telegraph, the naked criminality of London Water, it might be far
enough
away from home, for it to be, bearable for you to look at.
This is an extremely important political problem, that is not confronted
by
Labour or by Tory. Both approve the use of credit as currency, with
devastating effect on the economy. It is, if you did but see it
straight on,
the cause of commercial warfare, which in turn is the cause of climate
change and global warming.
That piece on the front page of the Telegraph, by Rosie Murray-West,
is
such a stark reminder of the dishonesty of our monetary system,
that I had
to draw it to your attention.
This letter is written with my kindest regards and affection, but
it is
nevertheless designed as a resounding rebuke, for muddled Tory thinking
on
economics.
Doctor Edward C Hamlyn MBChB
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