This election is about debt. A stampeding bull elephant, the debt-fuelled world economic crisis, is about to stomp on New Zealand.
We have escaped serious damage so far because of the relatively simple nature of our lending practices. But the bull elephant is getting closer.
At the end of March 2008, this country’s total debt was at least $492.6 billion. On average, that’s a debt of $115,937 per man, woman and child in New Zealand. A family of four shoulders a debt burden of almost $500,000, and it is going to go higher.
This figure includes personal debt, and the debt we service indirectly through taxes, rates and the price of goods and services. Debt is an issue that ought to be hard to ignore.
And yet it is ignored. One major party talks about ‘trust’ and another one about ‘a fresh approach’ this election, while the media have a feeding frenzy over a minor party’s alleged financial peccadilloes.
No-one is talking about the charging bull elephant, except for the damage he is doing overseas, as if it had nothing to do with us.
It has everything to do with us. Democrats for Social Credit has warned voters for over half a century that this crisis was coming. Now it is here, so what are we going to do about it?
Will it take the stomping of several bull elephants for voters to stop believing everything they read in the mainstream media and every platitude politicians in Parliament mouth?
We have been given breathing space; let’s adopt a financial mechanism that will pull us back from the brink of economic disaster.
Democrats for social credit is the only party that advocates such a financial mechanism - one that can save New Zealand and lead the world.
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...
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