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FHM and internals are entirely different with completely different reasons for doing them and totally different arguments for and against them.
Internals aren't checking the baby (other than for cord prolapse and clearly that would have other symptoms). Intermittent heart monitoring would pick up distress signals. A good midwife who is not too reliant on monitors (and who sticks around rather than relying on the monitors) will notice certain things happening by the mother's body language.
Not all baby stress will be picked up in that case and some babies may be damaged.
However, the permanent monitoring can significantly interfere with the progression of labour because it stops the mother having the ability to move as easily, stops her being in water, and worst of all gives the NHS the chance to over-stretch MWs by forcing them to have 2 or 3 labouring women at the same time so they're forced to rely on the monitors which can mis-lead (eg by slipping).
Because of this, labours will be interfered with and some babies may be damaged - and CS will be used when it wasn't needed - and mothers will have to be cut and forceps or ventouse used which could have been avoided.
There is no 100% safe way to labour and nmodern medicine has made it remarkably safer than 100 years ago. I am NOT against allopathic medicine. I AM for understanding the reasons why things are done and then for each person to make their own decisions.
I don't know what your husband does but it clearly brings him into contact with some terrible stories, many of which "could have been avoided". But remember, to CS every woman would remove all risk of birth-related oxygen starvation so why not do this? Obviously because it would cause a whole host of other problems.
It's a bit like the Obs. They usually only see the problem deliveries and rarely the normal births, so they have a distorted view of risk. I suspect it would be the same for your DH. Being in a job where you see a lot of brain damaged infants must be incredibly traumatic and I totally understand his concern.
In the end, you two make your own decisions. I just keep trying to put across that there are reasons why things are done - and pros and cons to all of those things - and nothing is ever done that you can't say no to, should you wish to.
I wish to say no to internals. I wish to say no to CFM unless there's a really good reason (and to leave me alone without a MW is NOT a good reason). If something is going wrong I'll gladly take the help and be immensely grateful for it, but I don't want to be interfered with is everything is going smoothly.
I honestly believe that with the right coaching many more labours would be straightforward (which is why I'm so pleased that tuesdaylaydee is having a doula. A highly medicalised environment is not conducive to a safe-feeling mother (because of all the associations with medical=ill, and being in an alien environment) and feeling safe is the first essential part of labour working properly. At least if the mother can get in a bath or move around properly without the distractions of wires, bleeping and hands being shoved up your nethers (and having to get in a position for this to be done which loses your focus and causes great pain when you are struggling to cope with things anyway) is just not helpful.