"I believe that banking institutions are more dangerous to our liberties than standing armies".
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around (these banks) will deprive the people of all property until their children wake up homeless on the continent their fathers conquered."
"The issuing power of currency shall be taken from the banks and restored to the people, to whom it properly belongs."
Thomas Jefferson - American statesman, diplomat, lawyer, architect, and Founding Father who served as the third president of the United States from 1801 to 1809.
A Reform of
Government and Local Bodies borrow from commercial banks and other (mostly overseas owned) financial institutions and waste $6 billion dollars of taxpayer's and ratepayer's money every year through interest payments.
Instead they should access funding from our own central bank for building the country's infrastructure, funding our health system, building houses that really are affordable, supporting our education system, getting kids out of poverty, etc.
We could also put spending power back into the hands of all citizens (quantitative easing for the people) by using our central bank capacity.
our Money System
Here you will find the latest international happenings on these concepts which you won't read about in newspapers, hear about on radio, or see on television in New Zealand
Find out how money really is created - not by the country's central bank but by commercial banks when they make loans. We effectively rent our money supply.
They don't lend out money savers have deposited with them - they lend out new money (credit).
You will find items from -
Award-winning journalist and financial economist who has written since 1976 for The Economist, the Financial Times and The Times of London before joining Reuters. His recent book, "Capitalism 4.0," about the reinvention of global capitalism after the 2008 crisis, was nominated for the BBC’s Samuel Johnson Prize, and has been translated into Chinese, Korean, German and Portuguese.
British businessman and academic. He was Chairman of Britain's Financial Services Authority until its abolition in March 2013. A former Chairman of the British Pensions Commission and the Committee on Climate Change, as well as the former Director-General of the Confederation of British Industry, he is an advocate of so-called "Helicopter money" whereby central banks would finance directly government spending or cash distribution to citizens.
Associate Editor and Chief Economics Commentator at the Financial Times, London. He was awarded the CBE (Commander of the British Empire) in 2000 for services to financial journalism. He was made a Doctor of Science (Econ), honoris causa, by the London School of Economics in December 2006. Mr Wolf was appointed a member of the UK government’s Independent Commission on Banking in June 2010.
Bryan was born in New Zealand and is a Rhodes Scholar. He joined the British Diplomatic Service in 1964. In 1974, he was elected to the House of Commons as a Labour MP. He served in the Shadow Cabinet as Chief Secretary, Secretary for Trade and Industry, Secretary for Environment, and Heritage Secretary. He contested the Labour Party leadership in 1992 but was defeated by John Smith. He returned to New Zealand in 1994 as Vice-Chancellor of the University of Waikato. He was made a Companion of the New Zealand Order of Merit.
Bernard is a leading financial journalist and editor with over 23 years’ experience including roles with Reuters, the Financial Times Group and Fairfax Media in Wellington, Canberra, Sydney, London and Singapore. He is a senior contributing editor for interest.co.nz and Newsroom Pro, writes articles for the Herald, and is a regular commentator on financial, economic and investment issues, appearing regularly on radio and television.
Professor Werner Is a German academic, economist and professor at the University of Southampton. In 1991, he became European Commission-sponsored Marie Curie Fellow at the Institute for Economics and Statistics at Oxford. He became the first Shimomura Fellow at the Research Institute for Capital Formation at the Development Bank of Japan. His doctorate in economics was conferred by Oxford University.
Chris has been a campaigner for monetary reform since 1972. He is a member of the Social Credit Association, the Social Credit Institute, Leader of the NZ Social Credit Party, and its Whangarei candidate.
Frank has a Masters in Adult Literacy/Numeracy and N.C.A.L.E (NZ), both Educational and Vocational. He has written several books and has had a long career in the arts and media, including freelance writing and cartooning. He is a regular columnist for the Wanganui Chronicle.
Professor Keen is an Australian economist and author. In 1990, he completed a Master of Commerce in economics and economic history and in 1998 his PhD in economics at the University of New South Wales. In 2014 he became a professor and Head of the School of Economics, History and Politics at Kingston University in London. He is a fellow at the Centre for Policy Development.
Money is created by banks when they make loans
They don't lend out money savers have deposited with them - they lend out new money (credit)
These authorities say so -:
The Bank of England - Money Creation in A Modern Economy
The International Monetary Fund - The Chicago Plan Revisited
Chicago Plan Conclusions Chicago Plan Conclusions
Chicago Plan Full Report - www.imf.org/external/pubs/ft/wp/2012/wp12202.pdf
The Reserve Bank Of New Zealand -
Bulletin 2008 - www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2008/2008mar71-1lawrence.pdfLetter 1994 - 97% of Money Created By Private Banks
The German Central Bank (Deutche Bundesbank) The Role of Banks in Money Creation
The role of banks, non- banks and the central bank in the money creation process
The Parliamentary Library of Canada https://lop.parl.ca/staticfiles/PublicWebsite/Home/ResearchPublications/InBriefs/PDF/2015-51-e.pdf
Money creation in the private banking system and how the central bank creates money for the Federal Government
Finance Minister Walter Nash - speech on 1936 Reserve Bank Amendment Bill - Parliamentary debates v.244 1936
The policy origins of the Reserve Bank of New Zealand - extract - Reserve Bank of New Zealand: Bulletin, Vol. 69, No. 3
You can follow the progress of monetary reform concepts in Iceland, Denmark, Switzerland, and other countries.