If this is the first time the banking system has been explained to you - and you find it hard to believe, you are in good company. John Kenneth Galbraith, former professor of economics at Harvard, writing in ‘Money: Whence it came, where it went’ (1975) said:
"The process by which banks create money is so simple the mind is repelled. With something so important, a deeper mystery seems only decent.”
Share the"7 Sharp" clip on how banks create money out of thin air. (7 minutes)
Share our "One good Cut" clip (4 minutes)
Share the 35 minute talk by a senior IMF staff member, Michael Kumhof, and his call for Financial reform for a sustainable economy
Move the money in your bank accounts from the Australian owned banks to New Zealand banks: Kiwibank, Taranaki Savings Bank, The Co-operative Bank, The SBS Bank or Credit Unions. Encourage your workplace, society, organistaion or group to do so as well.
Email your MP – with: “Cut the benefits to bankers out – not the things we care about” in the subject line. Let them know what you think of the current situation. Here is a link to the current MP's along with suggested text for your letter or email.
Read and circulate the first 20 pages of the IMF Working Papaer titled "The Chicago Plan Revisited" which endorses a solution similar to the Positive Money New Zealand one.
Download the Bank of England's 14 page paper titled "Money creation in the modern economy" issued in March 2014. It describes how the majority of the money in the modern economy is created by commercial banks making loans.
Donate to our campaign.
Point friends overseas to the International Movement for Monetary Reform to find the group closest to them. Positive Money New Zealand is part of a global campaign to reform the monetary system.
Let us know on firstname.lastname@example.org of like-minded people or organisations that are campaigning for similar outcomes.
Hand out the draft Executive Summary of the Creation of Currency Bill. This shows how New Zealand will exercise its sovereign right to create all of New Zealand's money supply.
Join our campaign. Contact us on email@example.com – with “I want to join” in the subject line.
Have us talk to your group, society or organisation.
To find out more about the issue - and the solution visit www.positivemoneynz.org.nz
Paying interest on a loan that never existed from TV 1 7 Sharp programme. (7mins)
A simple solution to the debt crisis from our sister organisation in the UK. (4 mins)
The problem with our current monetary system also from Positive Money UK. (20 mins)
12 year old Victoria Grant blasts the Canadian banking system that operates the same way our banks do. (7 mins)
Interview with Russel Norman about excessive bank profits on 3rd December 2012. 7 minutes.
Interview with Raf Manji by Kim Hill on National Radio - November 2011.