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"Funny Money" is a term that would best describe the stupidity of our government borrowing the money it needs from overseas owned private financial institutions when it could access it from the country's central bank (the Reserve Bank), which it owns.
This means that $4,500,000,000 of taxpayer money every year goes to pay interest when it could go towards things that benefit Kiwis - like better health care, housing the homeless, fixing child poverty, better education, building houses, roads, and sewage plants, etc.
Social Credit is committed to changing that, and putting in place a financial system that really works for New Zealanders and the planet.
Farewell Harry Smith
Sad news  - Long time Social Credit stalwart Harry Smith - signwriter, musician, and  raconteur extraordinaire passed away on Monday.
Since the late 1970's Harry contributed much time and effort to advancing monetary reform.
He was particularly famous for  an enormous banner he created (with help) which was hung on the cliffs of East Coast Bays in the 1980 by-election reading "It's a cliffhanger".
It was painted in sections in a warehouse and was so big and heavy it had to be assembled on the roadway above the cliffs in the early hours of the morning before being draped down the cliff.
The party won the by-election, Garry Knapp an his team beating Don Brash, who later became National Party leader and governor of the Reserve Bank.
Harry was also a key member of the "Democratic Dozen" who famously invaded Room 216 in Parliament to protest at the Labour government breaking it's promise to hold a referrendum on changing the first- past-the-post electoral system to proportional representation. The party favoured STV, but MMP was foisted upon the country in 1996.
Harry painted the banner hung outside, and was one of the 12 who went into the room for 3 days.
He stood as a candidate several times and was a tireless worker for Social Credit. He was known by many as "Mr Social Credit" in his home town of Gisborne.

Govt Should Invest in Waste to Energy Plant
Media Release 13.11.2018
Chris Leitch, Leader
The Government should invest in building a waste to energy plant south of Auckland.
Landfills are the least preferable option for rubbish disposal, and with new technologies, waste to energy plants have the potential to be carbon negative.
In addition the government should pass legislation requiring at least 60% of waste to be re-processed by 2025 rather than being dumped into landfills.
A planned new rubbish dump site in the Dome Valley will cover 1000 hectares and, in addition to being a blot on the landscape, will waste an enormous resource that could be turned into profit.
While the vast majority of waste collected in New Zealand goes into rubbish dumps, waste to energy plants like those in Norway recycle a much greater amount of usable material from the waste stream, and what is left is burnt at very high temperatures and turned into energy.
Emissions from the new generation plants are negligible, while rubbish dumps generated methane, said to be the worst of greenhouse gases, CO2, and have the possibility of leaching into waterways, killing fish and plant life.
A plant south of Auckland would be close to New Zealand’s fastest growing cities, and take rubbish from the whole of the country. Railways could carry the bulk of the load with a combination of rail and coastal shipping handling South Island rubbish.
This would take large numbers of heavy trucks off the road and be far more efficient, less polluting and make roads safer for other users. In the case of the Dome Valley site, that would mean 300 fewer return trips by truck and trailer units on the main road North daily.
Carbon capture is underway in Norway as is production of fuel from captured carbon in Canada.
Government rhetoric about climate change, waste reduction, and road safety won’t cut it. It needs to take action now.
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Banks Slapped With Wet Bus Ticket By FMA and Reserve Bank
Media Release 06.11.2018
Chris Leitch, Leader
The recommendations of the report from the Financial Markets Authority and Reserve Bank into the conduct and culture of 11 New Zealand banks are no more than a slap across the wrist with a wet bus ticket.
The report’s statement that “the regulators identified significant weaknesses in the governance and management of conduct risks” is simply window dressing to make it look like there was an enquiry of some substance, when there was not.
The recommendations of the review should be seen as more of a self protection exercise for the reviewers given that it was carried out by the regulators of the banks, who in Australia were shown by the Royal Commission to be just as culpable as the banks themselves.
Why did the report not deal with how the ANZ in New Zealand was able to extract $2 billion in profit out of the pockets of 4.8 million Kiwis?
Why have the banks got a strangle hold on our money supply, creating 98 percent of it, when the Reserve Bank has the ability to create some and enable government investment into health, education, housing, and infrastructure projects.
How is it that the banks charge Kiwi home buyers as much as 5.9 percent interest on money they don’t have until it is created on their computer keyboards.
The idea that banks lend out money people deposit with them is a myth, a fact confirmed by the former governors of both the Bank of England and the Bank of Canada.
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John Key's Cynical Pre-emptive Banking Strike
Media Release 03.11.2018
Chris Leitch, Leader
John Key’s call for stricter regulations for banks is a cynical and carefully planned pre-emptive strike on behalf of the ANZ and other banks ahead of the release of a report from the Financial Markets Authority and Reserve Bank next week.
The strategy is designed to try and avoid a more detailed investigation into banks operating in New Zealand, and deflect attention from the enormous two thousand million profit that ANZ has made in the last year.
97% of that profit, over $400 for every person in the country, was pulled out of New Zealand and shipped off to ANZ’s overseas owners, depleting our economy of much needed capital.
Most of the profit was made by the bank lending money it doesn’t have and then charging interest on those loans.

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Winston’s Great TPPA Con Job
Media Release 01.11.2018
Chris Leitch, Leader
Peters, who was the most vocal critic of the deal while in opposition, can now, as Foreign Minister with all the baubles of office, oversee putting it into operation.
Thousands of New Zealanders will be kicking themselves for voting for NZ First at the last election on the promise the party would continue to campaign against the toxic deal if they got into parliament.
Social Credit would not compromise on restoring New Zealand’s sovereignty over its own affairs should it be in any position such as Winston Peters found himself just 12 months ago.



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 - Lower Rates
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