The National Party’s desire to borrow from conventional sources for infrastructure development, will not only add further burdens to the many taxpayers by way of debt servicing, but will also help feather the nest of the few, his money market mates.
Those who wheel and deal in the money market at present will be rubbing their hands with glee knowing that under National, John Key and Bill English will expand the government’s debt programme. In the current financial climate the prospect of debt instruments being traded and secured against the taxpayer will be a bonus.
It is bad enough to suffer the effects of the current borrowing programme under a Labour Government without this being extended even further by National.
New Zealanders must surely now reflect on the change that has occurred in the National party. A party that has only one answer of its own to offer – borrow more than Labour and help feather the nest of their leader’s money market mates. In all other respects it has become, unashamedly, a Labour look-a-like.
New Zealanders must be wary of someone who has spent so much time brushing shoulders with the powers that be within our current financial system.
The personal success of Mr Key within this system needs to be measured against the huge growth in debt and financial instability that now surrounds him.
John Key’s credibility can only be rescued if he promotes an honest money system, where New Zealanders own and control their own money supply - a system where necessary funding was obtained, for infrastructure and environmental protection, from within our own shores, at a mere cost of administration using our own Reserve Bank.
The only nests to be feathered in this case would be the New Zealanders and their families.
New Zealand's Central Reserve Bank is STATE owned. Despite that, instead of being used for the benefit of its owners, the people of New Zealand, successive Governments have: Allowed the foreign-owned trading banks to create and issue nearly all of the nation's money supply and claim it as their own. Notes and coins make up less than three percent of the money in circulation. Ninety seven percent of our money supply is on loan to us at interest from those banks. Actively encouraged banks to charge "rental" for this money at some of the highest interest rates in the developed world. Used high interest rates as a blunt lever to control inflation, while agreeing to exclude the resultant costs from the Price Index, so that their cost-inflationary effects do not allow pensions and awards to compensate for these. Deliberately used interest rate fluctuations to maintain an unemployed "pool" of about four percent of the workforce in order to hold down wage rates. Fa
Comments
At the moment I liken Labour and Nationals keeping of the secrets of the Debt Based Monetary System, to that of two nuclear armed powers, not wanting to use their nuclear weapons because they know in all probability they would both be destroyed, in other words they know if the wider public find out they would right the pair of them off.
Cheers
Iain
http://plainsfm.org.nz/on-demand/j-pemberton-deputy-leader-dsc/
worth a listen!