Newsletter September 2022

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Kiwibank

Great news - Kiwibank has been purchased in full by the government from the previous owners - NZ Post 53%, the NZ Superfund 25%, and the Accident Compensation Corporation 22% - all, you'll notice, government owned entities.

 

What's not great news is that the government will borrow the $2.1 billion to pay those entities (who it already owns) it is buying the bank from, with money borrowed mainly from the commercial banks - who, of course, will create it out of thin air, as they do with everything they lend. That means taxpayers will be paying interest and eventual repayment of the loans - made with fairy dust. The result? Less money for hospitals, housing, poverty reduction, education.

It could have simply accessed the funding from the Reserve Bank, with no interest payments and no requirement to repay the funding. That option was recommended to Grant Robertson in an aide memoir written by the Treasury and the Reserve Bank in May 2020 which said. "As noted, both QE (Quantitative Easing) and MF (Monetary Finance - providing funds direct to the government) aim to support aggregate demand. QE does so by meeting inflation and employment objectives; MF, by meeting the specific funding needs of the government at lower initial cost and with greater certainty than QE.

You can read our press release on that (click here) and share it with others.

 

 

Press Releases

Recent press releases have been -

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25 August 2022 - Government funds for disaster relief a disgrace

The government needs to get serious with the financial support it provides for those areas of the country hit hard by the storms of the last week. An initial non-repayable fund of at least $20 million needs to be provided for each of the hardest hit areas – Northland, and Nelson/Tasman. The government could easily find the money required by drawing on the capacity of its own bank - the Reserve Bank - which proved it could supply funding when necessary, by creating more than $60 billion in the last two years for the covid recovery.
Read full release...

30 August 2022 - Govt needs to step up for Plunket and St Johns Ambulance

Government funding for essential services like Plunket, St Johns Ambulance, and the Salvation Army needs to increase by at least 15 percent. Those services were already underfunded due to massive immigration over the last ten years prior to inflation taking off and they are now in a desperate situation.
They are providing services the government would have to run and pay for itself fully if they were to close down.
The government is paying around $5 billion every year in interest to commercial banks on its borrowing when it could access much of its funding needs from its own bank, the Reserve Bank - at zero interest - as set out in the aide memoir written by the Treasury and Reserve Bank to Grant Robertson in May 2020.

Read full release...

06 September 2022 - Minister should release fuel storage capacity report immediately

The admission by Energy Minister, Megan Woods, that within days of the country's only oil refinery being about to shut down, she had no idea of how many days refined fuel storage the country had or should have and so told MBIE to hurry up on a report on mandatory onshore holdings, is almost beyond belief.Both she and the cabinet apparently relied on oil company assurances that they could maintain consistent supplies of refined fuel.
Surely the Minister understands that international corporations have only one focus - increasing profits to pay out larger dividends to shareholders, not the best interests of the country they operate in.
Read full release...

08 September 2022 - Government must release prisoners of conscience immediately

08 September 2022 - Government must release prisoners of conscience immediately
Social Credit is calling on the government to release over 3000 prisoners of conscience it has locked out of their specialties for refusing to accept its Covid 19 mandates dictate.
More than 3000 GP’s, nurses, midwives, doctors, anaesthetists and other health care professionals have been unable to practice their vocation – that of healing kiwis – when the country is facing an enormous health care crisis. New Zealand is virtually the only country in the world that still has mandates in place for its medical profession.
Read full release...

The main stream media don't publish our views. Can you help multiply the reach of these press releases by using them as a basis for a letter to the editor of your local paper, posting them on Social Media and sharing them widely with other contacts. You can share from our Facebook page or website where they are already posted. Feel free to use anything in the release - even whole paragraphs and make sure Social Credit is included in the letter. That will help to keep us in the polls!!

Candidates

We're starting to identify potential candidates for next year's general election. If you think you've got what it takes to be a Social Credit candidate, know someone who might have, or want to know more please send an email to leader@socialcredit.nz.

 

​​Thanks for your continued support.

Chris Leitch
Leader

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