News
News and campaign updates from the team at
Positive Money New Zealand.
Submission in support of our Covid-19 funding petition
The Positive Money team has followed up our parliamentary petition with a submission to Parliament. Positive Money launched its petition to offer an alternative to the emergency Covid-19 financing mechanism known as quantitative easing (QE) or ‘Large Scale Asset...
Our latest petition requires Government’s own bank to fund Covid recovery
A new petition is asking Parliament to require the Reserve Bank to directly fund the Covid recovery and other essential infrastructure, cutting out the unnecessary bank middlemen. The Reserve Bank plans to spend up to 100 billion dollars to buy bonds on the secondary...
Large scale squandering by the Reserve Bank
The Reserve Bank is embarking on a scheme that will squander $28 billion, according to Don Richards, the National Spokesperson for Positive Money New Zealand (PMNZ). Through its so-called Funding for Lending programme, the Reserve Bank will provide $28 billion...
There is a free lunch, Minister
In an extraordinary exchange during a recent press conference our Finance Minister, when asked why the Reserve Bank does not write off the Covid19 debt, said “it isn’t the way we manage monetary and fiscal policy”. He did not say that it is not technically...
Our response to the report on the petition to require the Reserve Bank to issue all New Zealand money
Read our response to the final report on our petition to reform the monetary system.
The budget snatches defeat from the jaws of victory
Press release 21 May 2020 After doing so well managing the pandemic the Government has said it will borrow the $50 billion it needs for the Covid-19 package. It could however instruct the Reserve Bank to issue the money directly, cutting out the lenders as it did...
About the Positive Money presentation to the Finance and Expenditure Select Committee
We show the clip of our presentation in March of this year to the select committee, take questions, and ask meeting participants to help us identify practical strategies to communicate the Positive Money solution to the public and key...
Video: Covid-19: How Will We Pay for It? | Positive Money NZ
Positive Money NZ national spokesman Don Richards and Auckland spokesperson Cliff Hall hosted a Zoom meeting with Positive Money members to discuss how New Zealand can pay for the Covid-19 response and recovery. Hint: it’s not debt and it’s not taxes. Recorded Sunday...
Reserve Bank’s ‘quantitative easing’ repeats the mistakes of others
While the $12 billion Covid-19 stimulus package to workers and small businesses was launched with great fanfare, a relief package 2.5 times greater ($30 billion) for the financial markets was slipped in with barely a whisper.
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