British businessman spends big on economy-fixing letter to prime minister David Cameron

May 10, 2012 - PRLog -- A British businessman has become so frustrated with the UK economy and the government’s seeming inability to fix it he has spent £10,000 of his own money on publishing an open letter to the prime minister, David Cameron in today's Financial Times.

The open letter, which appears in today’s FT (May 10th, 2012), highlights a radical ten-point plan that he confidently predicts will “propel the UK towards generations of value added economic growth without bank created boom and bust.” Measures include:
•   banning fractional reserve banking;
•   closing the Bank of England and the treasury taking over the creation and control of all UK money;
•   cutting to 25 percent the top rate of income tax to encourage the best people to stay in the UK;
•   emulating the German model of higher technical education aimed at creating a new generation of skilled technologists who can help build a modern and successful country and
•   opening hundreds of Overseas Promotion Offices in foreign markets aimed at intensively promoting UK products and acting as a base for new exporters

The author and backer of the plan is 47 year-old Gordon Styles, a London-born businessman who grew up in Middlesbrough through the economic degradation of the seventies and eighties.  Since 2005 Gordon has lived and worked in China where he manages and owns rapid prototype business, Star Prototype.

He said: “Although first and foremost an engineer, I am also a keen economist and back in the mid-90s, while attending a course in the City of London, I first came across the practice of fractional reserve banking. Immediately I realised that the ability this gives banks to literally invent money out of thin air was nothing less than a scam.

“Ever since then I have held the opinion that while the banks continue to be allowed to invent money out of thin air with almost no regulation, the UK economy will continue to exist in a permanent cycle of boom and bust.  I have shared this opinion relentlessly, but without success.”

To date, Gordon’s opinion has been greeted enthusiastically by fellow business people, but shouted down by bankers and economists time and again. Something he attributes to the City of London and its overseers being collectively blind to the fraud that is fractional reserve banking.

“The fact that the economy is now in a double-dip recession is a damning indictment on successive governments and their inability to take the measures needed – or even listen to those wishing to show them the way.”

“Paying to have my ten-point plan published was the only way I felt I could effectively get across the message that now is not the time for tinkering with the system and austerity. Now is the time for radical change and huge investment in infrastructure and skills, but this simply can’t be achieved while we, and our representatives in Whitehall, have no control over our own money supply.”
ENDS

NOTE TO EDITORS - The ten-point plan
AN OPEN LETTER TO THE PRIME MINISTER
How to Fix the UK Economy in 10 Steps by Gordon Styles
For the attention of the British Government and the people of the UK

Too often we hear that no one predicted the crash and that no one really
knows how to fix the UK economy.  This is not true; thousands of
practical British people like me saw the crash coming and also know how
to fix the economy.  The problem is that no one with the power to act is
listening.  Unpalatable as it is, here is the answer:

1. The building of any modern country is a huge engineering project,
therefore our leaders, including the Prime Minister and the entire
Cabinet, should be skilled technologists.  Create a 50-year national
plan that inspires the people.

2. Educate the nation to appreciate that: industry, manufacturing,
construction and running a trade-surplus are the main creators of
national wealth.

3. Ban fractional reserve banking (the process by which banks invent
money out of thin air: the main cause of boom-and-bust and the 2008
crash). Complete the nationalisation of the entire UK banking system.
Close the Bank of England.

4. The Treasury will create and control all UK money. The Chancellor
will then control the size of the economy by regulating the precise
amount of money in the system.  Similar to bank notes, all digital units
of currency to be uniquely numbered to ensure that fraudsters can no
longer invent new money at will.

5. New Treasury money is metered into the economy through state owned
industrial banks.  Build extensive national infrastructure using newly
created money.  Significant tax relief for industry on investments in
science and technology.  Pay down Government debt over time with newly
created money.

6. The currency exchange rate is tightly regulated in a new Bretton
Woods style system (exporting is damaged when speculators overvalue the
currency).

7. To encourage Managers and Workers alike to work hard and stay in the
UK, cut the top rate of tax to 25 percent and raise the threshold for
personal tax to GBP25,000.

8. Emulate the German model of higher technical education and build new,
and further develop, our specialist Technical Universities.  Similar to
the Fraunhofer organisation, the UK needs a new kind of institution that
bridges the gap between academia and industry forming the backbone of
our R and D efforts.

9. Huge investment in technical trade apprentice schools aiming to have
1,000,000 people of all ages apprenticed at any one time.

10. Open hundreds of Overseas Promotion Offices in foreign markets to
intensively promote UK products and act as a base for new exporters.
Drive hard for a trade surplus and give huge tax incentives to
exporters.