Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Credit Crunch sees “Money-Power” in fewer hands


PO Box 18-907, New Brighton, Christchurch    Phone/Fax: 0064 3 382 9544   

Email: democrats@democrats.org.nz      Website: www.democrats.org.nz


Media Release


Tuesday 7 October 2008


Credit Crunch sees “Money-Power” in fewer hands

“Armageddon is upon us – not as we dreamed, where the hero finally rides in, takes over the world and rules for a 1000 years of peace and plenty - but where a few anti heroes (the big banks) ride in and gobble up the smaller fry,” says John Pemberton, Finance spokesman for Democrats for social credit ( DSC ).

“They plead poverty and cry ‘bail us out or no more loans’. The craven Government capitulates, borrows billions of dollars at the expense of taxpayers, and relieves the bankers of their toxic loans.”

“The Money-Power has now tightened its grasp on the world,” Pemberton continues. “In the short term the money taps will not flow so freely, but the rate of debt growth will escalate as the compounding effect of higher interest rates kicks in.”

“So what are the options? How will Cullen or English manage the financial tsunami when it hits New Zealand?” Pemberton asks.

“We know that unfettered finance capitalism of the Rogernomics and Ruthanasia variety totally failed. We can be pretty sure the Keynesian approach of governments running deficits – pumping the economy with more and more tax payer funded debt will also fail.”

“No nation on earth has managed to create a stable industrial economy. Neither those in positions of power nor their advisors know what is wrong, and they certainly don’t know what to do.”

“The solution is to fill the gap between incomes and prices – not with interest bearing debt – but with a dividend to all citizens. This can only come from a publicly owned money supply and a production-based – not speculative – monetary system.”

“The 1000 years of peace and plenty could become a reality if we stood tall - established a New Zealand Monetary Authority, used it to replace the debt-infected money supply of the old economy with a transfusion of the life blood our economy needs -New Zealand dollars uninfected by compounding interest.”

“Instead of the power of the few it would be the power of the many. “


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>




Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>


Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>


Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>


Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>


Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>


(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>






Featured InfoPages

Opening the Election