"Funny Money" is a term that would best describe the stupidity of our government and councils borrowing the money they need from overseas owned private financial institutions when they could access it from the country's central bank (the Reserve Bank), which the Government owns.
Currently $6,000,000,000 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, fully funding St Johns Ambulance, etc.
Social Credit is committed to changing that, and putting in place a financial system that really works for New Zealanders and the planet.
Here's what could be done with that $6 Billion every year
ANZ Exit Best Since Sliced Bread
Media Release 07.07.2019
Open Letter to Jacinda Ardern Grant Robertson Winston Peters
The dairy industry isYou must be aware the second largest processor of milk in the country is about to be sold to a Chinese conglomerate substantially owned by the government of
’s largest exporter, bringing in our greatest amount of overseas
exchange. New Zealand
This should be ringing alarm bells louder however, from New Zealand's economic and strategic perspective, is the potential for this to be a stepping stone to the control by the government of another country of our entire milk processing capability, giving them the power to dictate the price that New Zealand's milk producers will receive for their product.
Strategically there is ample evidence that
is working hard to increase its influence in the Pacific. China is awake to that fact, and Australia has been warned by the likes of Ron Asher (The Jaws of the Dragon - How
China is taking over New Zealand and New Zealand ), Anne Marie Brady, and others. Australia
You have in your hands the ability to keep Westland Milk in the ownership of
and its West Coast farmer shareholders - at no cost to the government
or New Zealand
It should be welcomed with open arms by the Government and the Reserve Bank and a timetable put in place for its exit.
Such a move would allow the development of a much greater number of smaller
owned community banks such as the former Trust Bank network, and allow the TSB, Cooperative Bank, SBS and Kiwibank to grow. New Zealand
small business sector in particular has been severely disadvantaged since the network of community banks was sold off to the Australian owned monoliths in the 1990's. New Zealand
The strength of the small and medium business sector which is what powers the German economy and generates the most employment and it could do the same for ours.
Bernard Hickey on Radio NZ National
'I have been thinking about receiving every month from the Reserve Bank of
a $1,000 gift, and that everyone else in New Zealand who is a permanent resident would also receive a gift of $1,000 a month. Because that is probably the best way to do quantitative easing or money printing once you get down to 0% with your official cash rate.' New Zealand
Bernard is a leading financial journalist and editor with over 23 years’ experience including roles with Reuters, the Financial Times Group and Fairfax Media in Wellington, Canberra, Sydney, London and Singapore. He is a senior contributing editor for interest.co.nz and Newsroom Pro, writes articles for the Herald, and is a regular commentator on financial and economic issues on radio and television.
Taxpayers will be banks’ deposit insurance scheme backstop
Media Release 24.06.2019
The bank deposit insurance scheme just announced by government is no more then a licence for banks to create even more money out of thin air than they already do and be less responsible about who they lend it to, knowing the taxpayer will bail them out if they get it wrong.
Taxpayers and bank customers will end up footing the bill for the new scheme as banks will pass on additional costs in their lending rates and taxpayers will be the final backstop for any bad bank decisions.
Banks already have the right to take money out of depositors’ accounts to bail themselves out should they get into financial trouble.
Media Release 03.07.2019
Social Credit is urging farmers attending the Westland Milk shareholders meeting tomorrow to vote against the sale of the company to Chinese government owned Yili.
Yili has access to unlimited sums of money from
's central bank which allows it to make the kind of offer it has for China , while West Coast farmers are being hung out to dry by their own government. Westland
They need to remind the Labour Party that it was the party that put in place an overdraft facility at the Reserve Bank at a cost of just one percent interest for the Dairy Board, at no cost to taxpayers, back in 1936.
Banks crying ‘wolf’ over higher capital requirements
Media Release 02.07.19
Social Credit is accusing the Australian owned banks of crying ‘wolf’ over the Reserve Bank's proposals for banks to hold higher capital ratios.
Chris Leitch says any extra costs involved in the higher capital ratios should not be passed on to consumers nor should they hurt the economy.
Adrian Orr and the Reserve Bank should not be put off by threats from the banks or from John Key who is acting in the best interests of the bank he is chairman of, not in the interests of
. New Zealand
It should be remembered that every single loan a bank grants to a borrower is created by the bank out of thin air. Banks don't lend money people have deposited with them. They create new money in the process of lending.