Dear Sir,

I am writing to you to address a question that is most conspicuous by its absence from the public debate on
the Global economic crisis. I refer to the reticence shared by the Government, Opposition and Media to
honestly confront its systemic root causes and the solutions needed to eliminate them.

In business, the life-cycle of a technical system is guided by a systems analysis process, and assigned a finite
lifespan in anticipation of its eventual obsolescence. At the end of that period, the companys project board
review the fitness for purpose of the system against the potential benefits offered by other available solutions
and takes action based on those findings to optimise the companys on-going viability. This logical process
leaves no room for sentimentality towards the old system even if the conclusions of the exercise demand
changes which bring about major disruptions in the short term.

In accordance with this business logic, an honest and professional review is urgently needed into the
workings of our economic system if we are to effectively tackle the malaise to which no end appears in sight
under the framework of established thinking. I would like to begin by examining todays monetary system,
and identifying those of its components that render it demonstrably unfit for the purpose of sustainably
meeting our needs: -

Firstly, Contrary to the assumptions held by many people, The Bank of England (like Americas Federal
Reserve Bank) is not a government body but a private corporation operating for profit. The Government
cannot issue currency debt-free for the publics benefit, but must pay with bonds for all currency issued.
Consequently, a rising proportion of taxpayers money is committed to paying interest for a service that
ought to be provided free as a sovereign function of the Government itself. Indeed, the very practice of
income taxation itself a resource-intensive and psychologically punishing burden for the population
would be unnecessary if the government had the sovereign power to create its own money in order to readily
finance its functions and projects. Any inflationary effect of this new money entering the system would be
countered by the employment created, and the immense potential for life-enhancement for all that such a
change would bring within the governments reach. A look at the history of the central bank system reveals a
long tale of corruption and intrigue in which private vested interests have used many unscrupulous and
insidious devices to secure their monopoly on the creation of a Nations money. I recommend watching The
Money masters http://topdocumentaryfilms.com/the-money-masters/ for further information.

Secondly and again unbeknownst to most people is the practice of fractional reserve lending. In short,
this means that a commercial bank is able to lend out many times the amount of money that it actually holds
in the form of deposited legal tender. Thus of all the money in circulation in our economy today, 97% is
literally borrowed into existence in the form of bank credit, and is withdrawn from the money supply as
loans are repaid. However, the money needed to repay the interest on loans does not exist in the money
supply. Therefore, every year, more money needs to be generated in GDP than the year before to cover the
capital and interest due on last years loans. Thus we have an infinite growth model a Ponzi scheme that
mathematically places an ever accelerating demand on the resources of this stressed and finite planet. The
real-life needs of both the human population and our fragile ecosystem have become secondary in the
fanatical drive to keep this juggernaut in motion. And needless to say, its collapse is a mathematical certainty.

Thirdly, we need to consider the phenomenon identified by John Maynard Keynes as Technological
unemployment. Since the Industrial revolution, advancing mechanisation has been replacing human labour
in more and more industries. The quest for efficiency gains among competing corporations ensures that each
new job sector created through technology will employ less people overall than the sector it replaced. Digital
technology is now displacing jobs in the white-collar service sector as well as in manufacturing and
distribution, and studies have estimated that at least 75% of all the worlds jobs could now be done by robots
which are evolving exponentially. Governments are racked with debt, largely as a result of decades of
deficit spending to cover benefits and subsidies for those displaced by mechanisation and globalisation. The
austerity program is a desperate attempt to hang on for a little while longer in a clearly unsustainable battle.
Those lost jobs can never come back, and the only response weve been able to make has been to create ever
more false, bureaucratic jobs as a contrived reason for people to earn an income to gain purchasing power.
Such jobs (such as many of those supporting health and safety legislation) are of no productive merit to
society, and serve to add new layers of psycho-social stress to modern life making them counterproductive
over all. It is a great irony that as our capacity for creating an abundance of goods has developed, our
capacity for consuming them has declined.

Thus a new approach to economics needs to be adopted one that uses modern thinking to remove the
needless and stifling inefficiencies of todays system whilst also recognising the need to accommodate
future changes as the march of events takes us ever forward.

I would like to propose the following : -

Firstly, we absorb the functions of The Bank of England into the Government, thereby acquiring a system in
which the Government can create debt-free money and concentrate all its resources in serving the interests
on the population as is their lawful right. Remember this is a system historically instituted successfully by
President Abraham Lincoln with his Greenback Currency, and also practiced successfully today in the
states of Guernsey.

Secondly, we begin the practice of full-reserve lending, so that commercial banks can no longer lend out
money that they do not have, greatly reducing our blind addiction to perpetual growth. This will enable us to
move towards the steady-state economic system that will be vital if our childrens generation can hope to live
sustainably within the scientific limitations of the Earths Resources.

Thirdly, we re-evaluate all jobs in the country and determine which are genuinely still needed, mechanise all
industries as far as possible, and phase out the aforementioned false jobs. Then we re-distribute all the
genuine jobs amongst the whole population, shortening everyones weekly hours and giving them more time
to spend on their families and interests. Government issued money would support the retraining programs
necessary, and managing the money supply would avoid any destabilising inflation or deflation.

Fourthly, we develop a National resource management and tracking system and use it to guide the redesign
of our built environment to ensure every part of our economic activity is as efficient and sustainable as
technically possible. For example, we identify and eliminate all wasteful practices such as planned
obsolescence which deliberately limits the life of manufactured goods to ensure perpetual repeat
consumption, and introduce standards and a cap-auction-trade system to reward the most sustainable
practices in industry. However, the project that would need to take top priority is a transition to a completely
renewable energy infrastructure.

As we are seeing, the worlds economic and environmental problems are continuing to build into a perfect
storm unprecedented in human history. The population is rapidly losing confidence in hubristic political
leaders who still cling blindly to obsolete and untenable approaches to problem-solving. It cannot be
disputed that only a significant paradigm shift away from our moribund economic system can have a desired
effect in tackling these challenges before it is too late. Please let me know if you would consider supporting
these ideas, and if so whether you would be willing to present them in a private members bill. I would be
happy to come along and discuss this idea with you in greater detail if this would be helpful.

I look forward to hearing from you.