News
16th May The Pope calls for ethical financial reforms saying "Money has to serve, not to rule,".
8th May. Dom Post article titled "Credit Unions a viable alternative"
9th April Positive Money NZ provides a submission on the Treasury's macroprudential plans
8th April A government-funded retirement researcher predicts, in a draft policy report, that more of today's young New Zealanders will be trapped in rental accommodation all their lives.
26th March There was a very good interview with Rod Oram on National Radio. The conversation focussed on the Open Bank Resolution. We recommend that you start listening at the 5 minute mark. It goes on for a further 15 minutes and keep listening right to end - as there are good points made
17th March The euro zone struck a deal with Cyprus for a bailout worth 10 billion euros (NZ$15.8 billion), but demanded depositors in its banks forfeit up to 10 percent of their savings to stave off bankruptcy despite the risks of a wider run on savings.
This is theft, pure and simple said a pensioner.
1st March Standard and Poors says there is a significant risk of a property crash in New Zealand. Such an event would have a flow on effect on New Zealand banks. This follows on from the January IMF paper that warned that our banks were vulnerable - given their high exposure to overpriced real estate.
7th February An article in the US edition of Reuters comments on Adair Turners speech, calling it a breakthrough speech on monetary policy. This commentary is an easier read than the 46 page speech by Turner.
6th February A truly historic speech on monetary policy is delivered by Adair Turner, head of the UK Financial Services Authority, and one of the most influential policy makers in the world. Turner speaks in favour on newly created money being handed out to citizens or Governments of countries that are mired in stagnation.
7th February TV One's 7 Sharp programme features co-founders of Positive Money New Zealand, Don Richards and Sue Hamill.
25th January IMF Working Paper titled “New Zealand Banks’ Vulnerabilities and Capital Adequacy” issued January 2013 raises concerns about NZ banks.
23 January Dom Post article titled "Making money dance to a new tune can work" looks at the Chicago plan and the IMF paper.
3 December The new Governor of the Reserve Bank, in his first appearance at the Finance and Expenditure Select Committee, misled Parliament on bank profitability.
6th November Bill English writes to Positive Money NZ saying he is “in no doubt that our monetary and financial system is sound, well designed and well regulated and is playing an appropriate role in promoting New Zealand’s economic growth."
8th October 2012 Dom Post article. Russel Norman Co Leader of the Greens recomends the Government print money to bring down the value of the New Zealand dollar and stimulate the economy.
20th July 2012 A IMF Working Paper The Chicago Plan Revisited (PDF 1mb) endorses the idea of 100% reserve backing for deposits and a separation of the monetary and credit functions of the banking system.
23rd June 2012 Raf Manji's article in the July issue of NZ Investor (PDF 1.7mb) on direct government injection of debt free money into the economy - bypassing the banks.
21st June 2012 Interest on Wellington City Council (PDF 1.26mb) debt tops $420,000 a week.
5th June 2012 Chris Trotter in The Christchurch Press writes Creating money out of thin air
“I am afraid the ordinary citizen will not like to be told that the banks can and do create money. And they who control the credit of the nation direct the policy of Governments and hold in the hollow of their hand the destiny of the people.”