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This is a golden opportunity for George Osborne to leave his mark in history but it won't be achieved using the outdated tools of Keynesian economics.
This year is a jubilee year. The word jubilee comes from the old Hebrew for blowing the rams horn. The sound of the horn would have struck terror into the minds of the ancient money lenders because it said from this moment all debts are deemed paid in full. All debtor slaves could return to their homes free people. Where ever you lived that land became your property.
This was necessary as land is the most important asset because its sale re-introduces a circulating currency into the economy which employs people and allows them to buy food and pay their rent.
The re-introduction of gold standard using an alternative banking system which relies mainly on Discount and not Interest called the Real Bills Doctrine by Adam Smith its author and used by the British between 1815 and 1914 made Britain the richest country the world had ever seen.
It has to be seriously looked at again. The paper money is finished. Socialism is finished. Keynesian and Friedmanite economics is finished. We must not go back into that mess.
Either we follow the Americans down into Fascism with the Chinese and the Russians as bed fellows or we make the jump up into Capitalism which is something we have not used since 1914. Britain was the most wonderful beacon for freedom but the bankers blew the flame out in 1914. George Osborne must relight it otherwise the darkness will return.
This time the gold would be electronic and mainly used through the Internet via the mobile phone. Let's grasp the future. It's here now in 2012 and it will be gone by 2013.
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