David Pidcock also writes to Peter Stam
Dear Mr. Stam
Further to your recent e-mail reply to Justin Walker, the CampaignCoordinator for the New Chartist Movement, Sent: Tue, 6 Feb 2018 14:04.Which opens as follows: “Thank you for sending the Committee information about the creation of emergency currency issued by the Treasury at the beginning of the last century (the so-called Bradbury Pound) and for outlining the case for the restoration of that currency. The Committeeconstantly monitors the UK economy and regularly takes evidence on monetary policy. While the Committee has no specific plans to inquire into the creation of an alternative or Treasury issued currency in the UK, it will continue to scrutinise the related policies of HM Treasury and its associatedbodies”.
From which it is clear that neither you nor the sitting members of theTreasury Committee have the slightest notion of the fact that (the so-called Bradbury Pound) would not change the way the U.K’s existing monetary system operates, it would simply require the Treasury to expand/raise the existing percentage of M0 from its historical levels of circa 2.5% to 2.8% ofGSR the Government’s Spending Requirement to 100% thereby eliminating entirely any further need to continue Public Sector Borrowing – therefore nomore PSBR. This of course would bring about what John Maynard Keynes and others have described as: 'the euthanasia of the rentier, and consequently, the euthanasia of the cumulative oppressive power of the capitalist to exploit the scarcity-value of capital...1.'
