Monetary Justice

The key objectives of a monetary reform prescription are to enable a healthy producing economy that provides us all with sufficient income. It is not to provide massive profits for banks or to rob people of their life savings through collapsing Finance Companies and Share Markets. The producing economy is not the problem. It has, at times, clearly demonstrated that it can create the range, and quantity of goods and services people need and want. What is at fault is the mechanism we use to enable the wheels of production to turn - money and debt. The Monetary Reform Prescription: · The Government to take back from financiers, on behalf of the public, our right to control the credit of the nation and to manage it as a public utility. The public utility will have the responsibility to introduce all new credit into existence. · Money is to be regarded as a ticket to transfer the goods and services produced by the talents of our people, utilising the tools o...

The figures speak for themselves. Debt, more debt and even more debt right through until June 2017. The Budget forecasts: June 2009 $69.16 billion; June 2010 $76.12 billion and for June 2013 $106.62 billion – servicing that debt alone raises government expenditure on debt from $3.4 billion to $5.5 billion– does that look like debt under control? Bill English was certainly right to make debt one of his three objectives, but none of his orthodox budgetary measures will see the growing debt burdens currently experienced by New Zealanders lessen in fact. Our boom-bust economy is a symptom of a sick financial system - just as the fever and chills are symptoms of a sick human being. It is time to issue the economy with a Monetary Reform Prescription that will stop the fever and chills – it is Bill English’s responsibility to write the script. Today’s Budget announcements reveal his inability to do so.