September 2018 Release of our petition to have the Reserve Bank issue our money along with an opinion piece.

June Press release on the swiss referendum. Despite the campaign of confusion and fear run by opponents, 25% voted for the Sovereign Money Initiative.

April The AustralianRoyal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry is coming up with some serious wrongdoing by the banks and financial institutions

May 2017 Positive Money New Zealand issued a press release seeking clarity from the Reserve Bank on how our money is created. They still refer to intermediation by the banks, which is not how our banking system works.

5th November 2016 An article in The Guardian newspaper in England argued that abolishing debt-based currency holds the secret to getting our system off its addiction to growth.

5th September 2016 KPMG released a report, commissioned by the Prime Minister of Iceland, titled "Money Issuance" The report looked at money created by the Government.

28 March 2016 Bryan Gould agreed to be our Patron. Bryan is a respected commentator on economic matters, an author, academic and Companion of the New Zealand Order of Merit.

14 October 2015 The Finance Commission of the Dutch parliament discussed monetary reform.

22 November. The British parliament debated money creation last week, for the first time in 170 years. There was cross-party support for a proposal to set up a monetary commission

23 September. A new generation of young people, dubbed ''property orphans'' may be destined to be renters for life.

17 September. The Bank of International Settlements (BIS), the bank used by central banks, confirmed New Zealand houses are among the most "unaffordable" in the world compared to people's incomes.

25th April 2014 "Strip private banks of their power to create money": says the Financial Times' chief economics commentator Martin Wolf, who endorses Positive Money's proposals for reform

15th March 2014 - In a historic move The Bank of England quarterly bulletin explains how money is created. Whenever a bank makes a loan, it creates a deposit in the borrower's bank account, thereby creating new money. The bank says that this differs from the story found in some economics textbooks.

16th August 2013. The retiring head of the Financial Markets Authority apologised for the mistakes made saying "You were let down".


The Earl of Caithness“… our whole monetary system is dishonest, as it is debt-based… We did not vote for it. It grew upon us gradually but markedly since 1971 when the commodity-based system was abandoned.”

The Earl of Caithness, in a speech to the House of Lords, 1997.

Welcome to the resumption of our blogs, which now includes our media releases and opinion pieces.

Our first item goes back to 1936 and New Zealand was facing similar but far worse problems than we have today and they were solved by the passing of the legislation by the first Labour Government.

The Reserve Bank Amendment Act enabled our Reserve Bank to create credit (money) debt free to build tens of thousands of affordable state houses. The unemployed were given work in meaningful jobs and the wealth generated for New Zealand allowed for the establishment of a welfare system that became the envy of the world.

New Zealand emerged from the first Great Depression sooner and in better shape than most countries and we can prosper once again with similar legislation and the assistance of visionary and courageous politicians.

There is a “Plan B” for the New Zealand economy that has been proven to work.

Following are the significant speeches in the debate on the 1936 legislation along with reference to some of the content. Our transcript has kept the page numbering from the original Hansard records, with some slight variations to page length to take into account different formatting styles.

Nash - Minister of Finance introducing the bill for a second reading


The “inevitability” of slumps and depressions


Avoiding slumps, depressions and booms


Government control or “Political interference” in the banking system


The profit motive for private banks vs the best interests of the country


Banks determine where credit will be issued and to whom


Transfer of funds for speculative purposes


Borrowing funds overseas


Creating credit to build houses and other necessary things


Coates - Leader of the opposition – where is the money to come from?


Savage - Prime Minister in support of the legislation


Checks on government control of credit


Who has the last word in our economic wellbeing?


Wealth in abundance


Increase in wages and pensions


Lord Beaverbrook, writing in the London Sunday Express


The money system we currently have - debt in perpetuity


New Zealand government debt outstanding from 1879


Money for public works – use the public credit


Thousands of people in need of homes


We want to work with the bankers


Captain Rushworth: A new enemy in human development


New Zealand leading the world in sociological legislation


The Prime Minister will become a great figure in history


Every country in the civilized world is vitally interested in this legislation


Denham: Control of money has been in the hands of private enterprise


Protests similar to when the eight-hour day was proposed


Protests similar to when the abolition of slavery was proposed


Austerity measures reduced purchasing power and created poverty


Governments controlled by the masters of money


Balancing the budget - a national disgrace


New pupils underweight and malnourished


Director General of Health Report on 50,000 children


No more starving children, broken spirited people or suicides


Hargest: Trotting out the same old terms time and again


The banking system has failed to put money in the hands of people


The banking system collapsed at the start of World War One


Treasury notes were issued that worked well until the bankers …..


The disastrous return to the Gold Standard


Wright: Funding for the Napier – Gisborne railway line


Smith: Auckland demands more public money than the rest of the country combined


Atmore: those who create credit hold the destiny of the people in the hollow of their hands


Every bank loan creates a deposit and every loan repayment destroys deposits


Banks create money simply by writing figures in a book


The Bank of England required five bailouts in its history


The bailout of the Bank of New Zealand in 1894


Prime Minister Seddon looked forward to issuing our own money back in 1890


A citizen’s dividend for every man, woman and child in New Zealand


Mechanisation will reduce employment options


Nash: Government ownership where private enterprise has failed


Overcrowding in our mental hospitals


Malicious New Zealand Herald headlines


Undue profits by the banks


Tribute to the Governor of the Reserve Bank





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