The truth is a bit different. The Government now provides useless and destructive employment for a vast army of bureaucrats, in order to make the dole queues look small. We have fewer and fewer people working to produce what we need. Those productive people, are working harder and harder and producing less and less. At the same time, people are able to buy less and less, without going into debt.

Nevertheless the chosen productive few, work so well that vast surpluses, which they can create, will not sell and only earn for those workers so little, that saving is impossible.

A failure to observe reality and instead, to succumb to political propaganda, allows us to believe that we had best not grow to full maturity, but to retire from the game of life, nice and early.

The pensions crisis looks very real and looks quite lethal.

Fortunately we can, if we wish, observe reality and take notice of how our Statesmen should behave correctly.

Our Statesmen have become experts at getting things wrong. Their biggest crime is to devise a corrupt and unworkable Monetary System.

Our Statesmen agree amongst themselves, that ordinary mortals cannot be trusted with the task of creating and issuing the currency. They know for certain sure, that if they were to undertake this task, they would over create and give us all, runaway inflation.

As Denis Healey, the then Chancellor of the Exchequer, once told me, "Doctor Hamlyn, I have never understood money and I never shall".

It is no good expecting those who have never understood money, not to create trouble for pensioners. Likewise trouble is not necessary and we can handle, a seeming problem, merely by understanding money.

We need to understand money, because when there is a difficulty with understanding money, the creation of new money gets handed over to the experts. Politicians have given the bankers, that responsibility, believing that being experts at making money, bankers are the best people to create new money.

Bankers actually make money by lending money, therefore it comes very naturally to bankers, to lend new money into existence.

Governments allow bankers to issue new money as credit.

New money is now created by individuals and by businesses accepting credit as a loan and then the law states that money is owed.

It is new money which is owed, new, because it was credit before being accepted as a loan.

Individuals, businesses and nations get ever deeper into debt as a result of calling credit money.

If you stop and think, you will realise that it is impossible to save credit, or to salt credit away in a pension fund. New money, which is actually credit in disguise, gives us debt as our currency. Fair trading is impossible when the currency is debt. Fair Trading is replaced by commercial warfare.

We call it a rat race, which is a race which can only be run before you retire. Once you retire you automatically become a loser in the rat race. But you can do something about it. Get your M.P. to attend one of my seminars, so as to understand money and relieve the bankers of their burden. Then we can have real money as currency and manage without debt.

There is life without debt. But without money we die.