by Dr Edward C. Hamlyn M.B.Ch.B.

Author's Preface

In order to be an active member of the human race, for most of us the quality of life has come to depend upon the use of money.

For the majority of the human race no money equates with no life.

Even a slave must be housed, clothed and fed, all of which costs money.

Lives may be sold for money, but a buyer must be found.

Money has become a key to life without which we die.

Chapter One

but fortune favours the brave.

There is a good reason that it is essential for every citizen to read this book and to make a valiant attempt to understand its contents. And the reason is this, your life and the lives of your children, your grandchildren, your great grandchildren and all future generations will be influenced by whether or not we get the economy onto a sound footing in our lifetime.

For example, under the existing monetary system the money that is borrowed by the Government today will become a debt inherited by posterity.

So that when you hear or read of someone pleading with the Government for money to improve a school, to fund an essential medical service, to subsidise your local council or to give aid anywhere in the world, you should know that the cost will be handed down to our great grandchildren.

That is the way things are under the existing monetary system.

We owe some £660,000,000,000,000 to the banks.

One of our senior statesmen tried to reassure us by stating on the radio during my breakfast "When the figures get big enough they get meaningless". The second definition of a billion in Webster's College Dictionary is "any vaguely large number".

We are sort of lulled by the enormity of the problem into believing it is not real and need not be taken seriously.

But the fact is that we live on credit with no possibility of getting out of debt. We pay some £33,000,000,000,000 per annum as interest on that debt, more than we spend on health or defence and that money comes out of our pay packet as taxation.

With that amount of interest to be paid on debt we can calculate that every man, woman and child in this country, owes £10,000,000. You would each and every one of you, have to win at least one good sized lottery in order to pay it off.

These figures are open to question because we may have gone American without being told. In America a billion is a thousand million. In Britain a billion always was a million million.

But who knows what the newspeak really means. Newspeak is a word taken from George Orwell's "1984". It is facts like these which make us give up on the subject of economics and regard the whole thing as impossible to understand.

There is only one thing that is impossible to understand and that is insanity. It doesn't make sense. And modern economics doesn't make sense. We all know that good management of our own affairs demands that we earn more than we spend. But we also learn from bitter experience that a sick national economy can make this virtually impossible.

But the bottom line for everyone of us to know and understand is the fact that if the subject of economics has become difficult to understand then the subject is no longer sensible, honest or ethical.

It is our responsibility to know that basic fact, and to demand correction. You will see when you read this book that correction will put a smile on your face and give you a real and lively interest in economics.

Whether you realise it or not, you and your fellow citizens are enslaved by debt and will be for evermore unless you read and understand this book.

When you read the last chapter you will obtain a glimpse of the rewards awaiting you when you change the system merely by knowing what the existing system is, because you will not then tolerate the existing system any longer. It will become difficult to believe that we ever tolerated the existing monetary system.

Index £ Chapter Two