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Third World poverty is created by giving aid as credit
What is the trick by which a poor nation can have money to spend without receiving any money?
The trick is to enable that poor nation to create new money by borrowing new money into existence.
Western Governments allow private banks to create new money as credit. This is a cunning method, of giving banker friends, a licence to counterfeit money by sleight of hand. This practice has been in use since 1694 and never challenged.
The Tonnage Act of 1694 gave bankers the right to issue new money as credit. That is, to allow new money to be borrowed into existence.
The Tonnage Act resulted, when the King needed money to pay his troops, whilst fighting a war with France. The bankers came to the King and offered him money, if the king gave them permission to create the money.
The King said "I must pay my troops. Do whatever you must, but do give me the money".
Thus was formed the Bank of England. Years later the Federal Reserve Bank of America took the
practice across the Atlantic. As a result, the richest countries in the world now have the biggest debts.
Whereas the poorest countries are now enslaved by debts and are the new colonies of new Empires. A country is colonised by getting into debt and then being forced to earn money to pay the interest.
The country, which is a victim of this practice, is encouraged to use its borrowed money to grow food. Food becomes the only commodity the country has for sale to pay the interest it owes.
Then the global economy gets rigged, so that food become so cheap, it must be sold at giveaway prices, which do not pay the interest.
Then people starve. Aid as credit turns to death. Aid as credit is the new form of genocide.
About the Author
Dr Hamlyn is a founding member of the Royal College of General Practitioners, a veteran of WW II, retired farmer and practicing medical doctor. He is a prolific and articulate voice on the subject of monetary reform. www.monetaryreform.org
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