Monday, 2 January 2017

The undeniable truth of New Zealand colonial era money system funding structure it still suffers.

The Reserve Bank (RBNZ) is starting to more openly tell the truth of the nations colonial era money system funding structures that we still suffer.

Which means they are beginning to feel an increase in wider public knowledge and how it will look if they keeps hiding behind lies.

This paper:

http://www.rbnz.govt.nz/financial-stability/financial-stability-report/fsr2015-11/implications-of-global-liquidity-developments-for-new-zealand

Titled - Implications of global liquidity developments for New Zealand - from the Nov 2015 Financial Stability Report, is the closest to the whole truth I have yet seen from the establishment, in regards to the fact that every unit of NZ credit or currency (not just significant proportion as it says) can be traced back to originating somewhere in the NZ economy as a loan of interest bearing credit owed to a non NZ Government, foreign lending institution, and that the OCR follows external influence, not leads;

"There are three key channels through which New Zealand could be affected by declining market liquidity: the impact on New Zealand banks’ funding markets; the impact on short-term interest rates and monetary policy implementation; and the impact on the New Zealand government bond market.

New Zealand banks fund a significant proportion of their balance sheets by accessing offshore wholesale debt markets. They do this by borrowing in foreign currency, then ‘swapping’ this back into NZD. Conditions in global financial markets are therefore an important determinant of New Zealand bank funding. New Zealand banks tend to focus on the primary market (new issues) rather than the secondary market for debt. Hence, funding liquidity is of more immediate importance than market liquidity. Funding liquidity refers to the ability of the banks to raise debt as required at a reasonable cost. Reserve Bank discussions with bank treasurers suggest that funding liquidity conditions have deteriorated somewhat in 2015, owing largely to greater market volatility caused by events such as the Greek crisis mid-year and recent turbulence tied to China.

New Zealand banks typically use market makers to help facilitate the foreign currency swap leg involved in borrowing from offshore. Market makers take the other side of the transaction with New Zealand banks (providing NZD in exchange for foreign currency that the banks have raised), while charging a spread. This spread has widened as costs have increased for the institutions providing these market making services for the reasons described above. Overall, the cost increases have been manageable thus far, but this highlights the flow-on effects of changes in market liquidity to New Zealand entities seeking offshore funding."
end

Now please consider the above, in relation to (below) how these Primary Wholesale Credit Institutions admit that they fund themselves and what that means for us;

To learn how a rogue few within the banking sector, have turned criminal, in using the 1980's deregulation of banking, as an opportunity to commit control frauds, that steal the wealth of wider society into their own personal trust accounts, please read on;

Although it is clear that over cooked unwise immigration and foreign criminals looking to launder their proceeds of crime into New Zealand assets, has had a detrimental impact upon the economy, when you know the truth of banking, you know that the criminal rogues within banking have had the greatest detrimental impact of all.

The rogues have used the extraordinary privileges of banking that are little known by wider society, to rob society blind. By pursuing personal gains from commission and bonus based wage structures, share holder dividends and buy backs, that are tied to bank profits.


They have cooked the credit books and loaned society massive amounts beyond fundamental normal course of business basis, than they knew there was ever the physical means to clear.

Now as the penalty compound interest charges upon the massive amounts of private and government debt, that is counterfeit credit based, that is now priced into everything, it is sucking the lifeblood out of the economy.(Debt deflation)

Counterfeit credit based purchasing power has also inflated the cost of land based assets beyond any fundamental normal course of business basis (Debt inflation) It is removing dignified access to them, for those left behind, attempting to make ends meet within the normal course of business real economy.

The Truth about Banks

IMF FINANCE & DEVELOPMENT, March 2016, Vol. 53, No. 1

http://www.imf.org/external/pubs/ft/fandd/2016/03/kumhof.htm

To summarize, our work builds on the fundamental fact that banks are not intermediaries of real loanable funds, as is generally assumed in the mainstream neoclassical macroeconomics literature. Rather, they are providers of financing, through the creation of new monetary purchasing power for their borrowers. Understanding this distinction has important implications for a host of practical questions......

Practical implication

Many policy prescriptions aim to encourage physical investment by promoting saving, which is believed to finance investment. The problem with this idea is that saving does not finance investment, financing and money creation do. Bank financing of investment projects does not require prior saving, but the creation of new purchasing power so that investors can buy new plants and equipment. Once purchases have been made and sellers (or those farther down the chain of transactions) deposit the money, they become savers in the national accounts statistics, but this saving is an accounting consequence—not an economic cause—of lending and investment. To argue otherwise is to confuse the respective macroeconomic roles of real resources (saving) and debt-based money (financing).

The Bank of England is one of the senior most international financial institutions in the world. This from its March 2014 quarterly bulletin;
http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/2014/qb14q1prereleasemoneycreation.pdf

• This article explains how the majority of money in the modern economy is created by commercial banks making loans.

• Money creation in practice differs from some popular misconceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up’ central bank money to create new loans and deposits.

• Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits.
end

Banking in New Zealand Fourth Edition - published by the New Zealand Bankers Association in 2006 - makes it very clear that presently every dollar of currency circulating in New Zealand's money system originates as an interest bearing loan of credit owed to a private owned lending institution. That supplies brand new credit and currency that did not already exist. Domestic banks act as a middleman organiser for larger foreign banks. There is no third party, ultimately only the lender and the banking institutions that sit at the end of the wholesale credit supply discount chain.

Chapter 4 - The Creation of Money and Credit - is especially enlightening;

https://issuu.com/iainparkerpubliccreditorbust/docs/nzba_banking_in_new_zealand_fourth_

THE CREATION OF MONEY AND CREDIT

what Actually Happens in reality, although the process outlined in the previous sections could occur, cash balances in bank vaults no longer act as a constraint on bank lending in the way that they might have up until the latter part of the 20th century.......
in such an environment, there is still scope for a bank to expand its lending and create credit, but it is dependent on there being net inflows of funds into the banking system as a whole. These inflows of funds may come from depositors from outside new Zealand (and we have seen significant inflows of funds from such sources in recent years), or from the government making net deposits of funds into the banking system (through its fiscal policy, as outlined below).

We also have a situation where, since 1985, new Zealand banks have not had any specific reserve requirements applied to their deposit liabilities. This means that, in theory, banks could keep on creating credit and expanding their loan portfolios indefinitely. in such an environment, it is the cost of credit, based upon the costs that banks have to pay to raise the deposits, that becomes the constraint on the quantity of credit that is created.
end

Back in 2010, Alan Bollard, the former New Zealand Reserve Bank Governor stated as plain as day in a book that he wrote, that some within the banking sector had used their position within banks to commit control frauds against New Zealand society. Yet only superficial band aids were ever applied and the scams have marched on regardless;

Dr Alan Bollard Governor of the Reserve Bank of New Zealand 2002 - 2012.

Excerpts from a book Alan Bollard published 1 Sept 2010;

Crisis: One Central Bank Governor and the Global Financial Collapse

Pg 20
Banking practices differ around the world, but we ensure ours meet international standards. These are set by a somewhat shadowy group called the Basel Committee on Banking Supervision. Comprised of representatives of large countries( not including New Zealand ), the group meets in Switzerland at the Bank of International Settlements (BIS).

Pg 96
The Bank of International Settlements is an important institution, acting as a sort of central bank for central banks. Set up in 1930, originally to facilitate German World War 1 reparations, it has a checkered history but today offers modern banking services and provides a forum for central bankers.

Pg 183
“In self-interest, banks may encourage New Zealanders to take on more debt than is good for them individually or deliver more external liability than is good for the country.”

Pg 157
“Another governance worry related to the power and competence, or lack thereof, on the part of banks chief risk officers and risk committees. These officers assess the possible outcomes from any deal and decide whether the risks are acceptable under the banks mandated policies. We were now hearing about cases where risks had been miscalculated, procedures bypassed and officers overruled, all in the race for higher earnings.”
Pg 165
“In the case of some of the agricultural defaults, we felt that certain banks had been over-optimistic and under-analytical in their lending, and we moved to tighten some of the relevant capital requirements for the future.”
end

Sunday, 31 July 2016

Understanding the rigging and wrecking of a money system is simple.

Understanding the rigging and wrecking of a money system is simple.
A giving of something (Goods or work services) for nothing expected in return, is a gift.
A swap trade of things on the spot, at the same time, is a barter trade. It normally involves a haggle over value (Who gets how much for what). It is clunky due the double coincidence of wants. The need to find a trader that wants what you have and haves what you want, before a swap trade can happen. It makes producing perishables for trade very risky.
A swap trade of things with a part not being provided on the spot, with an agreement that the other part will be provided by the other party at a later time, is a contract of credit. It normally involves a haggle over value (Who gets how much for what) and an assessment that the later payment party can be trusted and has the sustainable natural resource ability to complete their end of the deal (Creditworthiness).
A record of the outstanding IOU part of a contract of credit, can be done in various ways. In the heads of the traders. On coins, paper or tokens was predominant in old times. In modern times written on paper or in a computer has become predominant. Anything but that in the heads of traders are physical representations of credit.
When credit becomes involved, the swap trade has evolved from a barter trade into a money system funding structure for trade.
If a money system grows beyond two traders and the physical representation of the outstanding IOU parts of credit become transferable among traders, they evolve into currency.
It smooths the double coincidence of wants, as traders can exchange goods for currency they can then wait to redeem (purchasing power) at a later time, with more choice.
It makes the production and trade of perishables less risky.

It makes large mismatches of credit value able to be smoothed by way of repayment via a greater number of installments than the full value.


A money system funding structure hub acts as a match making focal point of credit for traders who have things surplus to their own needs that are seeking other traders in the same situation.
It is essentially an old fashioned trading post with a modern innovation of a money system to make things easier.
As the number of parties within a money system grows, in order to keep it honest and as useful as possible, a credit clearinghouse administration is required. To ensure that something real was provided into the money system in the first instance and that the sustainable physical means exists to cover the IOU portion for every unit of currency in existence.
That every unit of currency is extinguished from circulation when it is finally redeemed for the outstanding owed value of the credit contract it represents.
Things get out of whack if the administration fails to keep the system honest or the administration itself becomes dishonest.
No matter who is administering the system, private - state or religion, if anyone is able to sneak currency into the system, of which the first part of the credit deal was never provided to the money system or obtain credit without any intent or means to complete their part of the deal (Counterfeit Credit), then successfully pass it off as legitimate purchasing or lending power, they will illegitimately monopolise the the real wealth of the system by fraud and eventually destroy value and faith in the system.
At present the money systems within, or involving groups of nations, are so far removed from the base fundamentals of money, counterfeit of credit so prevalent, that the level of inequality is evolving into violent struggle between honest participants frustrated at why ends do not meet for them, and the counterfeiters trying to keep control of and divert attention away from the imperialist pyramid control fraud they have built.

Friday, 8 April 2016

Iain Parker TPPA Submission to New Zealand Parliament Select Committee - sent 9 March 2016

Full submission as sent;
Submission to Foreign Affairs, Defence and Trade Select Committee from Iain Parker in regards to International treaty examination of the Trans-Pacific Partnership Agreement (TPPA)

I would like to register my evidence supported allegation that the TPPA will not deliver the path to overcoming New Zealand's ongoing chronic historical current account deficit that proponents of it are claiming.

I would like to speak to the committee.

TPPA does not address or even mention the greatest unworthy-unwarranted tariff any society can suffer.

Tariff
A tax imposed on goods and services. Tariffs are used to restrict trade, as they increase the price of goods and services, making them more expensive to consumers.

The TPPA does not address or even mention the tariff of the entire currency in circulation or savings within a societies money system being originated as a loan of interest charged credit owed to lenders outside of that society.

This is the on the record from official documents admitted case in New Zealand and many other societies - that adds much unworthy-unwarranted cost to the day to day living of citizens within those societies and acts as a barrier to fair trade.

These societies have been conned into thinking they need to take the natural resources they possess to an outsider pawn broker to fund development within them - when they most certainly - if they fully understood the fundamentals of money as a system - never needed to.

Money is a system in which credit and currency play very distinct roles within a money system.

If a swap of labour or goods is able to be done immediately on the spot without any part of the deal requiring to be recorded or remembered (credit) as needing to be completed at a time in the future - the realm of money system has not been entered.

If a contract of credit is agreed to for part of a swap of goods or services needed to be completed at a time in the future you enter the realms of a money system.

When the contract of credit is recorded it is a promissory note.

When more than two peoples enter a money system and start accepting promissory notes as transferable IOU's among members of the money system you have 'currency'.

At that point you need to introduce a 'clearing house of credit' role within the money system to keep an eye out that there is a fundamental basis to all credit and currency within the money system.

Because if anyone is able to turn up with currency with no fundamental credit basis (counterfeit credit) and con the other members of the money system into accepting it as legitimate purchasing or lending power - the counterfeiters will eventually enslave the other members of the money system via systemic mercantile imbalance (pyramid fraud) that if left unimpeded then puts unsustainable pressure in people and the environment (Ponzi Pyramid Fraud).

I contest that there is a mountain of credible evidence from on the record official documents that confirm that the present colonial era money system funding structures that New Zealand still suffers are a ponzi pyramid fraud being orchestrated by criminals that lurk within international high finance and that the economic executive among the political & media social protection agencies of New Zealand society are turning a collective blind eye to the on the record documented facts.

So without any further ado - in order to prevent the committee passing me over as a conspiracy theorist of no credible substance I present as my first - so to speak - 'expert witness' ;

Exibit 1

Here are the details of an email conversation between the Bill English New Zealand Minister of Finance Office and a New Zealand citizen in regards to an article about money system funding structures they had read in a newspaper.

The discussed article can be read in full at the bottom of the email conversation transcript.

From: Anita Schurmann
Sent: Thursday, 4 June 2015 6:03 a.m.
To: bill.english@national.org.nz
Subject: Money Creation

Dear Bill English
As you are the minister of finance I recommend that you read this article which recently appeared in the Otaki Mail.
http://otakimail.co.nz/outside-the-box-challenging-convent…/
I expect you are aware that banks are allowed to create money from nothing and lend it out at interest. In the past most people in NZ were unaware or didn’t believe that banks did this. However, as more and more people now understand and are realizing that this is going on, I believe it is time to change legislation to stop this unlawful behaviour. Money should be created for public good to facilitate trade, and should not be under the control of private corporations to make a profit. As you are probably aware this current monetary system is the main reason why the world economy is in such crisis. It is time to change the system for the good of all people. If New Zealand takes the lead in this are the rest of the world will most likely follow, as people throughout the world have had enough of the corporate controlled system that is destroying our world and our communities. Please let me know when you intend to change the law so creation of money is under the control of the democratically elected government rather than private companies.
Yours sincerely
Anita Schurmann

Office of Hon Bill English
14 July 2015

Dear Anita Schurmann thank you for your email 4 June 2015 in which you raised concerns about the the Government allowing banks to create money on their own through the system of fractional reserve banking.

The system discussed in the article you refer to, is one that has been considered at times as the role of financial institutions has evolved. Irving Fisher suggested a possible structure and approach to your suggestion in the Chicago Plan, eighty years ago, and there are some theoretical advantages that may result from a system set up in this way, including better control of business cycle fluctuations.

However, the transition to such a system would be hugely coomplex and is inherently fraught with great risks. We would wnt increased certainty and evidence regarding the benefits before change could even be considered, and the luck of such a system in any developed market economies makes such evidence hard to obtain.

Equally, the current monetary system allows for the provision of credit, which serves a very important function in allowing people to smooth their consumption over time and allowing firms to invest in productive capital.

Finally, it is not entirely clear whether it would be possible to move to the system outlined in the 'Chicago Plan' without an intensive global shift in monetary regimes. If New Zealand were to be a first mover, it is unclear what the effects would be for trade and the exchange rate in a small, open economy.

Yours sincerely

Hon Bill English
Minister of Finance

Here is the article in full that is being discussed in the email exchange;

Outside the Box — challenging conventional thinking and offering new perspectives about our world

Let’s Change our Money-as-Debt Problem

By Amanda Vickers June 2015

You’d think that the most important aspect of a sovereign nation would be for its Government to have sole rights to issue its country’s money supply. But not so: this function has been appropriated primarily by privately owned banks. “Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.” — Bank of England Quarterly Bulletin (Q1, 2014)*

Our nation’s money comes in to existence through debt. As more money enters the economy, the more debt we have (Government or private). Counter-intuitively, what benefits the individual does not benefit the nation as a whole. In fact, if we all repaid all our loans, there would be 98% less money left in the economy because, as it turns out, only ~2% of our nation’s money supply is issued by the RBNZ — as notes and coins.

So there you have it. Banks create our nation’s money supply when credit is drawn (monetized), destroy money when loans are repaid, and profit immensely from the interest charged on the loans. Most bank profit is obtained from the difference between interest we pay for these loans (created credit) and the interest they pay out for the corresponding deposits. The four big banks in NZ were making record profits in 2014, with ~4.3 billion dollars heading offshore to Australia and beyond. This is hard-earned New Zealander’s money leaving our real economy, and being transferred to the private banking sector.

Sovereign money advocates term this concept “economic rent” and claim that private banks, seeking to maximise profits, shouldn’t be “renting” money to Government, businesses and citizens of a free, sovereign country. This growing money supply and these growing debts are also secured by NZ’s assets, resources and labour force (you).

If we had a Government issued money supply requiring banks to have 100% reserves for money they lend, we would see dramatic improvements in our economy. We could have both less debt and enough money to thrive. The International Movement for Monetary Reform proposes just this and has gathered a huge following since the 2008 global financial crisis.

This “sovereign-money” proposal proved itself when it was modeled by the International Monetary Fund**. Their analysis showed that the benefits of 100% reserve banking would be: dramatically reduced public and private (net) debt levels (because money creation no longer requires simultaneous debt creation), better control of business cycle fluctuations, complete elimination of bank runs, output gains of 10% and that inflation can drop to zero without posing problems for the conduct of monetary policy.

It is great the IMF analysis has concluded something that also seems intuitive and logical. Sovereign money advocates extrapolate further that the outcome would also be far reaching throughout our economy and our lives. They say it could also improve: the inequality gap, child poverty, housing bubble control, student debt, state asset sales, job security, local businesses performance (due to the 10% higher output gains), budgets for local community projects and facilities, health care and education.

It’s not a bad outcome for one law change: 100% reserve banking. The irony is that the law would change to how most people think it actually works now — where our Government issues the nation’s money supply. It simply requires updating the 1844 Bank Charter Act, which forbade banks from printing notes. If only they’d included something to prevent ledger balance accounting tricks, creating credit — which they have done to this very day!

One obstacle is the general lack of understanding about how the monetary system really works by both the public and many politicians. There is also a fair amount of inertia and political resistance to the reform. The change is a big one, so is therefore daring and challenging. Some politicians fear sovereign money because it may affect NZ’s Standard and Poor’s (S&Ps) credit rating. S&Ps may mistrust the Government thinking they would simply issue too much money too easily, causing an inflationary crisis, creating a currency devaluation, which would in turn affect trade.

Realising the importance of “why” we should address a problem, motivates people to find the “how”. Money reform advocates found it was not rocket science. Their solution could work in much the same way that the RBNZ independently oversees monetary policy now. A democratic, transparent and accountable body (Monetary Policy Committee) could independently separate the function of money issuance from money spending. They would be tasked with the role private banks have now: creating and destroying the nation’s money supply. This could be done exactly as needed — debt free — within inflationary limits. Our government would also have greater control over where and how our money is spent, and would be able to steer the economy with greater precision.

Here’s a thought: if this scenario was already the status quo, and it was now proposed to turn our nations’ money supply over to commercial corporations (banks), whose mandate it is to maximise profit, as debt-based money, there would be pandemonium on the streets!

Money is an abstract concept — designed by humans to serve humanity’s needs. Let’s make it do this well. It is not a law of nature to have a debt-backed money system: it can be redesigned. The present design is not working well, and as Albert Einstein said, “insanity is doing the same thing over and over again and expecting a different result”.

Please support politicians embracing sovereign money and share this information — an excellent source of further material is Positive Money NZ (www.positivemoney.org.nz), the NZ chapter of the International Movement for Monetary Reform (www.internationalmoneyreform.org).
*(“The reality of how money is created today differs from the description found in some economics textbooks. Money creation in practice differs from some popular misconceptions — banks do not act simply as intermediaries, lending out deposits that savers place with them, and nor do they ‘multiply up’ central bank money to create new loans and deposits.” — Bank of England. However, the result is similar: when making loans, new money enters the economy, whichever method one has been taught)
End of exibit 1

So I would hope I may now have gained your attention?

If you already knew of the shortcomings of the colonial era money system funding structures that we still suffer in our nation and that there exists viable alternatives worthy of consideration – yet go on to support a contractual agreement that entrenches deeper into law the clear and evident pyramid fraud aspects of the nations colonial era money system funding structures that we still suffer – your motives have to be questioned.

If you do not fully understand the impact upon society of the present colonial money system funding structures that we still suffer – but are thinking of voting to sign New Zealand into TPPA based upon some blind faith ransom demand response to threats of economic isolation from the post World War 2 'club of nations' to whom we belong – please examine the following very thoroughly.

Iain Parker's Ideal Alternative Economic Advisory Panel

In 2015 as the world seems to be reversing back into a selfish-slave-minded-feudal-commercial-pyramid-fraud-ideology away from learned behaviours of common decency.

Before parents consider allowing their children being sent off to kill each other en masse – please take the time to read the findings and suggested more civilised-environmentally-sustainable-money-system-funding-structure-reforms of these senior most international level Bankers – Academics – Regulators – who have integrity and are using their knowledge trying to prevent the breakdown of civilised society.

These people are not path of least resistance - ego preserving apologists for what they have played a part in - they are proven advocates for true reform of the presently failed money system funding structures of the world.

David C Korten

Dr. David C. Korten worked for more than thirty-five years in preeminent business, academic, and international development institutions. Served for five and a half years as a faculty member of the Harvard University Graduate School of Business, where he taught in Harvard’s middle management, MBA, and doctoral programs. Asia regional adviser on development management to the U.S. Agency for International Development before he turned away from the establishment to work exclusively with public interest citizen-action groups.

Short summary of his findings in this video;


More detailed written summary here;


Adair Turner

Present -2015- Senior Fellow of the Institute For New Economic Thinking.

Prior to September 2008 Lord Turner was a non-executive Director at Standard Chartered Bank, United British Media and Siemens; from 2000-2006 he was Vice-Chairman of Merrill Lynch Europe, and from 1995-99, Director General of the Confederation of British Industry. He was with McKinsey & Co. from 1982 to 1995, building McKinsey’s practice in Eastern Europe and Russia as a Director. He was previously Chair of the Overseas Development Institute (2007-10).

Lord Turner studied History and Economics at Gonville and Caius College, Cambridge from 1974-78.

The Case for Monetary Finance – An Essentially. Political Issue
Video

Transcript

The Truth About Banking: Former Top Regulator Speaks Out

Adair Turner's book challenges the belief that private credit is essential to growth and fiat money is inevitably dangerous. The author argues that debt needs to be taxed as a form of economic pollution because most credit is not needed for economic growth and just drives real estate booms and busts and leads to financial crisis and depression. The author also debunks the big myth about fiat money—the erroneous notion that printing money will lead to harmful inflation. He believes that policy makers need to monetize government debt and finance fiscal deficits with central-bank money to overcome the mess that is created by past policy errors.


John Fullerton

Former JP Morgan Managing Director says entirely compounding interest attached money system has out grown boundaries of the biosphere and is mathematically unsustainable!

About John Fullerton;

During an 18-year career at JP Morgan, John managed multiple capital markets and derivatives businesses around the globe, and finally ran the venture investment activity of Lab Morgan as Chief Investment Officer. He was JP Morgan’s representative on the Long Term Capital Oversight Committee in 1997-98. John is currently a director of the New Economics Institute, Investors’ Circle, New Day Farms, Inc., and an Advisor to Natural Systems Utilities. He is a participant/author of the UNEP Green Economy Report. John earned a BA in Economics at the University of Michigan, and an MBA at the Stern School of New York University’s in the Executive MBA Program.

Video interview here;

Transcript here;

I learned that a lot of what we practiced in finance through no ill intent, this is unrelated to the financial crisis, and the ethical challenges of the financial system, but that the system itself is designed to propel growth in the economic system with no regard to the physical boundaries of the planet and with little regard to the social criteria, social constraints of human well being and so it struck me that a lot of the symptoms that we talk about such as climate change obviously being on top of everyone’s agenda, but ecosystem degradation, soil degradation, biodiversity loss. All of these issues are symptoms of an economic system that is essentially bumping into the boundaries of the biosphere, and if you think about finance and even our money system, which is built on a money system which is created through expanding money that has interest associated, so as the money supply grows the requirement to service money grows at a compound rate. That forces at a systemic level the economy to continue growing which if the economy is related to material throughput eventually creates this conflict with the boundaries of the biosphere. So its been a very profound realisation and what I have discovered is that there are an increasing amount of people thinking about this question, but its very much outside the halls of conventional economics and very much new economic thinking.”

The Road To Regenerative Capitalism

Michael Hudson

Michael Hudson is a former balance-of-payments economist for Chase Manhattan Bank and Arthur Andersen, and economic futurist for the Hudson Institute (no relation).

Born in 1939, Chicago, Illinois, USA is research professor of Economics at University of Missouri, Kansas City (UMKC). He is also a Wall Street analyst and consultant as well as president of The Institute for the Study of Long-term Economic Trends (ISLET) and a founding member of International Scholars Conference on Ancient Near Eastern Economies (ISCANEE).

Economic advisor to the U.S., Canadian, Mexican and Latvian governments, to the United Nations Institute for Training and Research (UNITAR), and he is president of the Institute for the Study of Long-term Economic Trends (ISLET).


[9.00] Back in the 1960s, I ( Michael Hudson )was Chase Manhattan Bank’s balance of payments analyst, and my job was to focus on the Latin American countries: Argentina, Brazil, and Chile, and my job was to calculate how much of a balance of payments surplus they could generate, and the idea of the bank marketing department was the entire economic surplus could be used to pay debt service to the seven major Americam banks.

[9:40] And pretty quickly we found out that there wasn’t any surplus to pay the banks, and there was an international department that got very upset because he said “Look, I get promoted for making loans, and the real estate guys are making all the loans, you’re telling us they can’t afford to repay!” And he took it up to David Rockefeller, we went across the street to the Federal Reserve bank, and the Federal Reserve bank said “It’s in America’s interest to make these loans to Latin America. Mr. Hudson, according to your calculations, Britain can’t afford to replay any more.” “That’s right. I don’t see any way in which it can get the money to repay the debt.” And the Federal Reserve man said “Ah! But did you take into account the fact that the US Treasury is always going to lend Britain the money to pay? We will never let it go down.” I said, “Well, that’s a deus ex machina from outside the system. Yes, you can lend them the money to repay.”

Transcript of interview with Michael Hudson former Chase Manhattan Global Bank Balance of Payments Analyst - How Financial Parasites and Debt Bondage Destroy the Global Economy.

William Black
A financial system regulator of the highest knowledge and integrity who knows what needs to be kept an eye on.

William Black jailed 1000 odd bankers in the US back in 1980's when they committed the same crimes they did during the 2008 global mass counterfeit credit crisis - for which hardly any of the frauds have been brought to justice.

Which is the prime cause of the massive inequality in the world that is now leading to massive civil unrest.
Transcript here;
Videos here;


Iain Parker

There are also my own articles in regards the impact of criminal banking sector activity upon New Zealand - helped very much by having discovered and followed the works of the above linked banking insiders turned reform advocates for over a decade now;

Universal Public Credit Public Policy Submission
To whom it may concern,
Attempting to form public policy for equal economic opportunity of all citizens without a full knowledge of the function of money as invented and intended - that this submission details - is doing so by looking at 1/3 of a many piece puzzle forced together in frustrated confusion - thinking its complete - when 2/3 of the picture needed in the middle to make clear sense of it all - is in-fact one large piece that has been hidden by a self serving few to steal from wider society under false pretenses.


The New Zealand Money System De-Fib Documentary - Giving a jolt to the heart of an ailing democracy.

A global economy based more upon thieving & killing of many for the profits of a few - than sharing & caring for the greater common good of humanity within boundaries of sustainable resources - I contest is a cancerous tumor threatening the survival of the progress of learned behaviours of common decency over self destructive animal instincts - is in great need of the checks and balances detailed in this article linked below for the very same reasons evidenced in the article;


Please Committee - Once taking in the evidence from 'expert witnesses' of the highest order above - please then read the summaries of the financial regulation related chapters of TPPA written by the US Trade Representatives displayed below – then please explain to the people of New Zealand just how – under such terms and conditions of colonial era money system funding structure that we still suffer – that growth can ever exceed the cost of debt that we are forced to take on to try and achieve the growth? If you can not – you should not be voting for the TPPA and I contest it is clear and evident the contract contains financial system Trojan horses from which further financial parasites will emerge;

US Trade Representatives TPPA Website

Chapter 2

Chapter 9

Chapter 11

Chapter 17

Thank You

Iain Parker

Sunday, 29 November 2015

Iain Parker's Ideal 2015 Alternative Economic Advisory Panel



If anyone thinks these people have merit please bring the information they possess to the attention of as many people within the political and media public protection agencies as you can.

As the world seems to be reversing 
away from learned behaviours of common decency, into a selfish slave master minded, feudal commercial pyramid fraud ideology. 

Before parents consider allowing their children being sent off to kill each other en masse in wars, please take the time to read the findings and suggested more civilised, environmentally sustainable money system funding structure reforms of these senior most international level Bankers – Academics – Regulators, who have integrity and are using their knowledge trying to prevent the breakdown of civilised society.

These people are not path of least resistance, ego preserving apologists for what they have played a part in, they are proven advocates for true reform of the presently failed money system funding structures of the world.

David C Korten

Dr. David C. Korten worked for more than thirty-five years in preeminent business, academic, and international development institutions. Served for five and a half years as a faculty member of the Harvard University Graduate School of Business, where he taught in Harvard’s middle management, MBA, and doctoral programs. Asia regional adviser on development management to the U.S. Agency for International Development before he turned away from the establishment to work exclusively with public interest citizen-action groups.

Short summary of his findings in this video;

https://www.youtube.com/watch?v=gTKE_mpEUu0

More detailed written summary here;

http://www.yesmagazine.org/pdf/liberateamericadownload.pdf

Adair Turner

Present -2015- Senior Fellow of the Institute For New Economic Thinking.

Prior to September 2008 Lord Turner was a non-executive Director at Standard Chartered Bank, United British Media and Siemens; from 2000-2006 he was Vice-Chairman of Merrill Lynch Europe, and from 1995-99, Director General of the Confederation of British Industry. He was with McKinsey & Co. from 1982 to 1995, building McKinsey’s practice in Eastern Europe and Russia as a Director. He was previously Chair of the Overseas Development Institute (2007-10).

Lord Turner studied History and Economics at Gonville and Caius College, Cambridge from 1974-78.

The Case for Monetary Finance – An Essentially. Political Issue
Video
https://www.youtube.com/watch?v=7pZzrdpHMZs

Transcript
http://www.imf.org/external/np/res/seminars/2015/arc/pdf/adair.pdf

The Truth About Banking: Former Top Regulator Speaks Out
http://www.theepochtimes.com/n3/1895986-the-truth-about-banking-former-top-regulator-speaks-out/2/

Adair Turner's book challenges the belief that private credit is essential to growth and fiat money is inevitably dangerous. The author argues that debt needs to be taxed as a form of economic pollution because most credit is not needed for economic growth and just drives real estate booms and busts and leads to financial crisis and depression. The author also debunks the big myth about fiat money—the erroneous notion that printing money will lead to harmful inflation. He believes that policy makers need to monetize government debt and finance fiscal deficits with central-bank money to overcome the mess that is created by past policy errors.

http://live.worldbank.org/between-debt-devil

John Fullerton

Former JP Morgan Managing Director says entirely compounding interest attached money system has out grown boundaries of the biosphere and is mathematically unsustainable!

About John Fullerton;

During an 18-year career at JP Morgan, John managed multiple capital markets and derivatives businesses around the globe, and finally ran the venture investment activity of Lab Morgan as Chief Investment Officer. He was JP Morgan’s representative on the Long Term Capital Oversight Committee in 1997-98. John is currently a director of the New Economics Institute, Investors’ Circle, New Day Farms, Inc., and an Advisor to Natural Systems Utilities. He is a participant/author of the UNEP Green Economy Report. John earned a BA in Economics at the University of Michigan, and an MBA at the Stern School of New York University’s in the Executive MBA Program.


Video interview here;
https://www.youtube.com/watch?v=bnbxRW8FnT8

Transcript here;

“ I learned that a lot of what we practiced in finance through no ill intent, this is unrelated to the financial crisis, and the ethical challenges of the financial system, but that the system itself is designed to propel growth in the economic system with no regard to the physical boundaries of the planet and with little regard to the social criteria, social constraints of human well being and so it struck me that a lot of the symptoms that we talk about such as climate change obviously being on top of everyone’s agenda, but ecosystem degradation, soil degradation, biodiversity loss. All of these issues are symptoms of an economic system that is essentially bumping into the boundaries of the biosphere, and if you think about finance and even our money system, which is built on a money system which is created through expanding money that has interest associated, so as the money supply grows the requirement to service money grows at a compound rate. That forces at a systemic level the economy to continue growing which if the economy is related to material throughput eventually creates this conflict with the boundaries of the biosphere. So its been a very profound realisation and what I have discovered is that there are an increasing amount of people thinking about this question, but its very much outside the halls of conventional economics and very much new economic thinking.”

The Road To Regenerative Capitalism
https://www.youtube.com/watch?v=nHnYZ4_qQIM

Michael Hudson

Michael Hudson is a former balance-of-payments economist for Chase Manhattan Bank and Arthur Andersen, and economic futurist for the Hudson Institute (no relation).

Born in 1939, Chicago, Illinois, USA is research professor of Economics at University of Missouri, Kansas City (UMKC). He is also a Wall Street analyst and consultant as well as president of The Institute for the Study of Long-term Economic Trends (ISLET) and a founding member of International Scholars Conference on Ancient Near Eastern Economies (ISCANEE).

Economic advisor to the U.S., Canadian, Mexican and Latvian governments, to the United Nations Institute for Training and Research (UNITAR), and he is president of the Institute for the Study of Long-term Economic Trends (ISLET).

http://www.nakedcapitalism.com/2012/04/michael-hudson.html

[9.00] Back in the 1960s, I ( Michael Hudson )was Chase Manhattan Bank’s balance of payments analyst, and my job was to focus on the Latin American countries: Argentina, Brazil, and Chile, and my job was to calculate how much of a balance of payments surplus they could generate, and the idea of the bank marketing department was the entire economic surplus could be used to pay debt service to the seven major Americam banks.

[9:40] And pretty quickly we found out that there wasn’t any surplus to pay the banks, and there was an international department that got very upset because he said “Look, I get promoted for making loans, and the real estate guys are making all the loans, you’re telling us they can’t afford to repay!” And he took it up to David Rockefeller, we went across the street to the Federal Reserve bank, and the Federal Reserve bank said “It’s in America’s interest to make these loans to Latin America. Mr. Hudson, according to your calculations, Britain can’t afford to replay any more.” “That’s right. I don’t see any way in which it can get the money to repay the debt.” And the Federal Reserve man said “Ah! But did you take into account the fact that the US Treasury is always going to lend Britain the money to pay? We will never let it go down.” I said, “Well, that’s a deus ex machina from outside the system. Yes, you can lend them the money to repay.”

Transcript of interview with Michael Hudson former Chase Manhattan Global Bank Balance of Payments Analyst - How Financial Parasites and Debt Bondage Destroy the Global Economy.
http://michael-hudson.com/2015/10/rewriting-economic-thought/

Nomi Prins

Nomi Prins is a renowned journalist, author and speaker. Her latest book, All the Presidents’ Bankers: The Hidden Alliances that Drive American Power, is a groundbreaking narrative about the relationships of presidents to key bankers over the past century and how they impacted domestic and foreign policy. Her other books include It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street. She is also the author of Other People’s Money: The Corporate Mugging of America, which was chosen as a Best Book of 2004 by The Economist, Barron’s and The Library Journal.
Nomi’s insights comes from having worked as a Managing Director at Goldman Sachs, a Senior Managing Director and head of the international analytics group at Bear Stearns in London, a Senior Strategist at Lehman Brothers, and an analyst at the Chase Manhattan Bank (now JPM Chase) which she joined at age 19. She holds a Bachelors of Science degree in Mathematics from SUNY Purchase, and a Masters of Science degree in Statistics and Operations Research from New York University, where she also completed all coursework for a PhD in Statistics.
She has appeared on television numerous times: internationally on BBC, RtTV, and nationally on CNN, CNBC, MSNBC, CSPAN, Democracy Now, Fox and PBS. She has been featured on hundreds of radio shows globally including CNNRadio, Marketplace, NPR, BBC, and Canadian Programming. She is featured in numerous documentaries shot by international production companies, alongside prominent thought-leaders, and Nobel Prize winners.
Her writing has been featured in The New York Times, Fortune, Newsday, Mother Jones, The Daily Beast, Newsweek, Truthdig, The Guardian, The Nation, Alternet, NY Daily News, LaVanguardia, and other publications.
Her engaging key-note speeches are thoughtfully tailored, and she has spoken at numerous venues including the Purdue University/Sinai Forum, University of Wisconsin Eau Claire Forum, Ohio State University Law School, Columbia University, Pepperdine Graduate School of Business, Manhattan College, National Consumer Law Center, Environmental Grantmakers Association, NASS Spinal Surgeons Conference, and the Mexican Senate.

She is a member of Senator Bernie Sanders (I-VT) Federal Reserve Reform Advisory Council, and is listed as one of America’s TopWonks. She is on the advisory board of the whistle-blowing organization ExposeFacts, and a board member of the animal welfare and wildlife conservation group, Born Free USA. She is currenty a Senior Fellow at the non-partisan public policy think-tank, Demos.
Nomi Prins Public Banking
https://www.youtube.com/watch?v=msgMAx1dNs0


William Black
A financial system regulator of the highest knowledge and integrity who knows what needs to be kept an eye on.

William Black jailed 1000 odd bankers in the US back in 1980's when they committed the same crimes they did during the 2008 global mass counterfeit credit crisis - for which hardly any of the frauds have been brought to justice.

Which is the prime cause of the massive inequality in the world that is now leading to massive civil unrest.
Videos here;
With transcript
http://www.pbs.org/moyers/journal/04032009/watch.html

https://www.youtube.com/watch?v=-JBYPcgtnGE

Iain Parker

There are also my own articles in regards the impact of criminal banking sector activity upon New Zealand - helped very much by having discovered and followed the works of the above linked banking insiders turned reform advocates for over a decade now;

Universal Public Credit Public Policy Submission
To whom it may concern,
Attempting to form public policy for equal economic opportunity of all citizens without a full knowledge of the function of money as invented and intended - that this submission details - is doing so by looking at 1/3 of a many piece puzzle forced together in frustrated confusion - thinking its complete - when 2/3 of the picture needed in the middle to make clear sense of it all - is in-fact one large piece that has been hidden by a self serving few to steal from wider society under false pretenses.

http://publiccreditorbust.blogspot.co.nz/2013/04/universal-public-credit-public-policy.html

The New Zealand Money System De-Fib Documentary - Giving a jolt to the heart of an ailing democracy.
https://www.youtube.com/watch?v=sqOG-b1pJRw

A global economy based more upon thieving & killing of many for the profits of a few - than sharing & caring for the greater common good of humanity within boundaries of sustainable resources - I contest is a cancerous tumor threatening the survival of the progress of learned behaviours of common decency over self destructive animal instincts - is in great need of the checks and balances detailed in this article linked below for the very same reasons evidenced in the article;

http://www.dailykos.com/story/2015/01/15/1357742/-Re-conceptualizing-Money-for-a-21st-Century-Society