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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.
Latest
The  tragedy in Christchurch has affected many immediately and will affect  all of us over time.
Our condolences go to all those who have lost  family members and friends and our thoughts are with all those directly  affected.
This is not the New Zealand we thought we lived in. Kia Kaha.


Tax Working Group
Report Like
Cold Porridge
Banks Create
Money
says Brian Gaynor
- NZ Herald
Local Govt Funding Submission
February 2019
We've said, since the 1920's, that banks create money - they don't lend  money people deposit with them.
We've been called cranks, and 'the funny  money' party.
Now, yet another one of NZ's leading economic commentators, Brian Gaynor, says the same thing.
'As with most other modern economies, notes and coins created by central banks comprise only a small proportion of the total.'
'Banks create money by lending to individuals who immediately place these borrowings on deposit.'
'Central banks have been reluctant to highlight the banking sector's  money creation activities but this silence was broken in 2014 by two  studies from the Bank of England, the UK central bank.'
We were right all along.
We'll reign the banks in.
Time for Social Credit to be in  government.

The report of Michael Cullen's tax working group was about as innovative and forward looking as a bowl of yesterday's cold porridge.
It is complicated to work through, and the recommendations will leave as unpleasant an after-taste for the vast majority of New Zealanders.
The innovations it could have shone the way on, like the scrapping of GST at 15% and the introduction of a financial transaction tax at under 1% will be sadly missing.
A FTT would automatically haul into the net the likes of Google and Facebook, along with a raft of speculative fancy financial transactions that currently escape GST.
The irony is that the working group will have cost taxpayers several million dollars to propose a more complex tax system that will extract more money out of their pockets and benefit only accountants and tax lawyers.

Local councils are facing increased demands on their funding, organisational, and service delivery capabilities.
Councils ablility to increase rates and charges is being constrained, with more ratepayers on fixed incomes, and the majority of wage earners already living with household budgets under stress.
Many councils have joined the Local Government Funding Agency in an effort to obtain better borrowing rates. The LGFA website says ‘We provide investors with a new source of securities rated at AA+ by international credit ratings agencies’. Ratepayers expect the money they pay to go towards providing services in their area, not to be the source of a significant contribution to the development of Capital Markets for wealthy investors.
There is another funding option that has not been investigated by local government New Zealand or by individual councils.
 


National Hypocrites Over Surf Lifesaving Funding
Media Release 23.12.2018
Chris Leitch, Leader
The National Party’s launch of a petition calling for government funding for surf lifesavers is one of the most hypocritical actions by a political party in recent memory.
National had nine years in government during which it could have done exactly what the petition is calling for, but it didn’t.
Instead it was the biggest slasher of funding ever, to numerous organisations that provided much needed community services.
In 2016 District Health Board budgets were cut by $138 million, meaning psychological services in Canterbury faced cuts from $1.6 million to $200,000, while trauma counselling was halved to $400,000.
Also in 2016 they cut $7.3 million for Parents as First Teachers, and operational grants for public schools were frozen.
The government should access its funding from the central bank and free up $4.5 billion per year for lifesavers and a host of other groups, along with hospitals, and schools.
Kiwis Should Move Their Accounts to a NZ Owned Bank
Media Release 01.01.2019
Chris Leitch, Leader
Kiwis should make a New Year’s resolution to move their bank accounts to Kiwibank, or one of the other wholly owned New Zealand banks, said Social Credit Leader Chris Leitch.
The big four Aussie owned banks dragged over $5,128 million in profit out of the back pockets of Kiwis last year – four times more profit than the 10 largest companies on the NZ Stock Exchange.
Most of the profit was made by the banks charging fees and interest on money they didn’t have - money created on their computer keyboards at the time of the loan.
The idea that banks lend out money people deposit with them is a myth, a fact confirmed by Mervyn King, Governor of the Bank of England from 2003 to 2013.
Had even a quarter of that massive profit gone instead to Kiwibank, dividends to the Government would have provided over a billion dollars extra for health care, and education.
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.


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© Copyright 2019   Social Credit NZ
Authorised by Anne Leitch, Secretary
42 Reyburn House Lane, Whangarei
If you want
 - Better Housing
 - More Say
 - Better Roads
 - Lower Rates
 - Better Health Care
- Less Tax
 - Better Education
- Clean Rivers
                    
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