In July 2010, I read a letter published in the Morning Star. Technically, this notorious communist newspaper is the Morning Star Incorporating the Daily Worker; this is the letter below.
A decade and a half on, I cannot remember how I came to be reading this newspaper, perhaps I found it in a public library, I am quite certain I would not have bought it. Whatever, this missive by Comrade Parry was published in the July 12, 2010 issue, page 10.
I fired off a response by e-mail (I should imagine) and to my surprise, the paper published it.
Below is my letter as published in the Morning Star; at the bottom of this page – in Portable Document Format – is the unedited version.
I scanned my reply and added it to this site soon after it was published, and dated it Thursday, July 15, 2010, page 14. When I returned to it a decade and a half plus on, it was not there! I thought for a moment there might have been two editions of the paper, but shortly I realised I had misdated it. It was actually published on Friday, July 16, 2010, page 14.
I have now added a better quality scan, from the actual paper rather than from a photocopy, sixteen years to the day from when it was first published. For purists though, here it is and this page as originally published. And here is an archived version of the entire page from the paper.
As the reader will have realised, the Parry letter is part of a then ongoing argument about the banking system; his position is ludicrous and as with so many leftists, he and the paper is playing semantic games. It is true that today, with the exception of central banks, banks do not create cash, but they do create credit. As many people have pointed out, banking is essentially a Ponzi scheme, it is based entirely on confidence, and in this connection I would refer the reader to my article It’s Official – Fake Money Is As Good As The Real Thing (If Not Better) which was published three months before this correspondence.
One final point, the letter below was published in the June 23, 2010 issue, page 10. Therein, another comrade parrots the demonstrably false claim that banks do not create money, and adds they are not the villain, nor is interest. Yes they are, both of them, the banks and specifically compound interest. To me this is further proof, as if further proof were needed, that the comrades do not really have tbe best interests of the working class at heart, and that some of them are literally shills for international finance.
To My Unedited Letter
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