Monetary Justice

Budget 2011  Tried and Tired Yet another New Zealand Finance Minister, Bill English, has produced a Budget based on the misguided belief that problems can be solved by the same thinking used to create them. What is needed is a new form of economy  monetary reform. Democrats for social credit (DSC) monetary reform will address the deep problems caused by inequality of income, neglect of the environment and the debt slavery that characterises the present unsustainable economic paradigm. Bill English’s budget will have little effect on any of these issues other than making them worse. Core to monetary reform is the New Zealand Monetary Authority (NZMA) that can provide and manage money as a public utility, for the economic, social and environmental benefit of New Zealand and its people. The current inefficient and expensive source of money borrowed from huge banking cartels will be replaced by an extremely efficient source  the NZMA. The burden of compounding debt will be relieved...

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.