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

 

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Reginald McKenna“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.”

Reginald McKenna, as Chairman of the Midland Bank, addressing stockholders in 1924.

 

About us

Guiding principle

We are out to interrupt the predictable future for our children. 

After leaving university young people will not know a time when they are free from debt.  They will not enjoy the free and easy years previous generations had after graduating. 

Should they aspire to own their home it will require two incomes to service the loan and decades to pay it off.  They will also need to save for their retirement – while raising their children. 

This is not the sort of world we wish to pass on to them.

Background

Positive Money New Zealand is a campaign to move New Zealand from a debt-based economy to one that operates with a full reserve in which money has been issued debt-free and interest-free.

This will free the nation and its people from the crippling effects of ever increasing interest bills - that keep the majority of people on the debt treadmill.

The campaign is based on one that has been running in the UK called Positive Money - which started in May 2010 as well as a similiar one in the United States called the American Monetary Institute - which began in 1996.

Positive Money New Zealand began when Sue Hamill and Don Richards had the current debt based system explained to them in 2010, while watching Money as Debt.  When they learnt that New Zealand operated under the same system - they customised the UK campaign - to the New Zealand situation.

The Team

Sue Hamill

After returning from three years based in the United Kingdom Sue studied law and then spent 10 years working in publishing. She retrained in 2006 in therapeutic massage.

Sue works full-time as a self-employed massage therapist and maintains a keen interest in health.

Don Richards

Don lives in Newtown in Wellington and is married to Sue.  He has two daughters from a previous marriage and became a grandfather for the first time in May 2011.

Don has worked in a number of key industries during times of significant change in New Zealands recent economic history.  He was employed by BP Oil New Zealand, working in their Retail Strategy unit during the deregulation of the New Zealand oil industry in the late 1980's.

He also worked for Standards New Zealand in the late 1990's as it grappled with the transition from state funding to the user-pays model.  In addition Don worked for the New Zealand Dairy Board, leading up to the formation of Fonterra and beyond. Don currently works for BRANZ (Building Research Association of New Zealand) as their Quality and Environmental Manager.

Don has also taken on a number of community based projects including organising cleanups of Wellington harbour which started in 1997 and continues to this day.  In addition he organised street parties for his neighbours and ran a campaign to stop whaling in the southern ocean - called Friends of Tangaroa.

 

 

 

 

 

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