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Letter to: Mr. Tweedie, Telegraph

Economic Apartheid

Your comprehensive view of our economic apartheid in the Telegraph on Saturday, omits one all important datum. With that datum omitted from every comment made by the Press and the media on matters economic, it is difficult to fully calculate its importance. But according to my reckoning, that datum is pivotal to the whole of economics.

Private banks have a total monopoly on the creation and issuance of new money, needed by the nation to service economic growth. Growth is essential to our survival. The risk of climate change brings the matter of survival into focus. We cannot afford to omit the missing datum any longer.

Here is that datum. Credit is not money, credit is the new-speak word for debt. The only source of new money, essential for our survival, is credit, issued by private bankers. There is an infinite inexhaustible supply of credit available to them, totally free of charge to private bankers and which is now used as leverage to feed the billions pouring into the City bonus pot.

Money is black, credit is red. There in a few words is the colour bar, which is the economic apartheid of 2007.

Doctor Edward C Hamlyn MBChB