China, which is in danger of falling foul of Western economics

Dear Mr Templeman

It is deemed by me, that you do me a great honour by considering the contents of the letter I wrote to you, on 19th June 2006.

However, it is on a subject, which is not appropriate for debate. We are looking at the fate of a great Nation called China, which is in danger of falling foul of Western economics.

Your Chief Economist, if he knew his job, would be telling you, what I am trying to tell you.

Using credit as currency is not acceptable. That is really all I am telling you, but it seems to be a precept impossible to communicate.

When we chose money as our means of exchange, there is no substitute for money, even gold is no substitute. Credit is a betrayal. The word credit has now become a synonym for the word money as well as a synonym for the word debt.

There is nothing wrong with lending money which actually exists. But there is plenty wrong with seducing people into accepting credit as though it were money and then using the law to force the borrower to launder the credit, turn it into money and then return the credit to its source, in the form of money, all the while paying interest with money, to the provider of credit.

The complexity of that statement, causes so much confusion, that this method of counterfeiting money is never challenged.

The word counterfeit means, to make in imitation, with intent to deceive.

Obviously by using this method of creating and issuing new money into circulation, the banks make very large profits. Perhaps some £35 billion per annum. This gives the bankers enormous power and places them above the Law and above Parliament.

To debate such folly is to condone the crime and allow it to persist. That is your privilege if you so wish, but is not a crime which I wish to indulge.

If the bankers have already seduced China into allowing them $1trillion debts, by the extension of credit facilities to China, then as you say the system has already been exported and is already fully functional. But to use that as a justification for giving the system your blessing, is not appropriate.

With debts of $1trillion or more, the Chinese economy is already insolvent and for us to ignore our own folly and encourage the Chinese to do what we do, which is to borrow the money to pay the interest on existing loans and to go on accepting credit as a loan of money is insane, if you have the courage to look at it.

By this means a Nation with infinite assets, can be driven so deeply into debt slavery, that its freedom is lost for ever. Chairman Mao can be killed off and die, but bankers appear to be possessed of eternal life.

Graham Leach would not be where he is unless he approved of the bankers. He must do so, or the bankers would not approve of him! and allow him to be your economic spokesman. They are that powerful.

You yourself admit that banks create new money. But you fail to observe, that by getting us to accept credit as new money, we are seduced into accepting an imitation of money, which the bankers successfully deceive us into believing is money. I do not advocate credit creation by the Government. That would be folly in the extreme. I advocate restoring to our Government the sole privilege of creating and issuing new money, and to accept our instructions as to how to do so correctly.

Kindest regards and affinity. Affinity unalloyed if you choose to ignore this Wisdom. It is your choice, a choice I would not wish to destroy.

Doctor Edward C Hamlyn MBChB

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