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Letter to: Gill Hankey, Director The Bankruptcy Advisory Service. Hull

Best advice to the debtor

Dear Mr. Hankey,

Tell him or her, they are being swindled. The difficulty I find is that the correct advice tends to put the adviser out of business. If you cure the problem, so that there is no problem, you are out of business. For example far more people live off cancer than ever die of cancer. A cancer cure would destroy an enormous industry. That puts the motivation askew. Horrible thought.

As you will say this is irrelevant, because there never ever will be a cure for cancer, because we shall need multiple cures for different cancers. Bankruptcy is very different. The cure is so obvious that only a very strictly imposed Press embargo, prevents the problem from vanishing. Take a look. Public and private, we now have debts of several trillions of pounds, after sixty years of ever increasing prosperity. Those debts are now so huge they can never ever be repaid. We use debt as money.

In the world today, far, far more people die of starvation than will ever die of cancer. Bankruptcy is a global problem. It needs a cure yesterday or much earlier than yesterday. You blow the whistle and put an end to all this stupidity. Very simple. Spot the fact that all new money today is issued by private banks as credit. We can only make progress by going ever deeper into debt. That is fact, despite the fact that it is never ever stated.

As a result it has become unbelievable. It has become unbelievable!! We cannot understand that which we cannot believe. End of story.

There it is and the cure is equally unbelievably simple and easy. Restore to Government the sole right to create and issue new money and tell the Treasury how to do that correctly. QED.

Doctor Edward C Hamlyn MBChB