Friday, 10 May 2013

Former Investment Banker and Current New Zealand Prime Minister Says he is a Criminal

"A cult of personality, look me in the eye, I exploit you, I tell you one and one makes three, but you still love me"

John Key says about Wall street and the Occupy movement the following:
” If you go all the way back to what’s caused the global financial crisis you can apportion an enormous amount of the blame at the foot steps of Wall street and it ultimately created products that destroyed capital around the world and fitfully (whatever that means) destroyed banks around the world.:
“I mean they sold products that in their heart of hearts they must have known they wouldn’t be repaid for so I can understand that bit….”
end quote
Seriously, I would wager some of these proponents of the Anglo-Saxon private banking empire would blitz a lie detector test - they are so confident that the pyramid scam they orchestrate does not even register on the radar of wider society;
"Article by Fran O’Sullivan titled – Key chases luck o’ the Irish – published New Zealand Herald July 20 2005;
Key is clearly on a roll as he lists the options New Zealand could explore if it decided to abandon outdated ideology and take a more pragmatic approach to growing the economy.
The former investment banker knows what he is talking about.
As head of global foreign exchange for investment giant Merrill Lynch he shifted a considerable amount of his business to Ireland in the mid-1990s to take advantage of a 10 per cent tax rate for foreign investors.
The investment was a runaway success.
We transferred across the aircraft leasing business, the complex interest rates derivatives business, the entire back office for global foreign exchange and a huge chunk of private clients’ business,” says Key.

John Key – The Unauthorised Biography
- Weekend Herald Sat July 19 2008
Merrill Lynch Senior Executive Steve Bollotti said of John Key “He revolutionised the blue blood investment banking sector.”

Key explains: “I had a whole lot of people working for me who were at the cutting edge of delivering quite complex and new and innovative products. They tended to either be a new product or into a new market, usually the emerging markets, Russia, Brazil, Argentina. I wasn’t the guy sitting there dreaming it all up, but I was the guy who was responsible for those people.” Did he foresee the problems which resulted in the sub-prime crisis? “Was it hard to predict? Not really.”

"We had this beautiful thing going because we were the first to supply margin trading to big hedge funds. We had the capability to cross-sell them several products using one bit of margin."

New Zealand Prime Minister and former international investment banker John Key -17 November 2012 - in an interview with Rachel Smalley on TV3 - The Nation;
“Our (Govt) debt to GDP levels by then will top at just under 30 percent, in other words, um, we'll be relatively lowly indebted compared to countries like America and Europe, but I put it to you we are a small open economy, we have high levels of private sector debt, we, mum and dad, have borrowed that debt effectively from foreigners because their local bank has sourced that from foreigners.

John Key said 6 May 2013;
http://www.interest.co.nz/bonds/64319/nz-pm-key-defends-government-drive-return-surplus-and-start-reducing-debt-despite-doubts
""It hasn't been like we haven't been prepared to use the balance sheet. But we're a small country. We're an open, trading nation. We have considerable private sector debt and we're relying on foreign savings to finance our future. On that basis, if we are excessive with our spending and therefore build up debt, then eventually some generation of New Zealanders are going to have to pay that back," Key said.
end quote

"Foreign savings" Mr John Key, with the level the debate has moved on internationally at the very highest levels of the international supply side of money re the pyramid aspects of international high finance for any public representative, especially one who himself has been to the very heart of international high finance, to continue to keep the people of New Zealand in the dark about just what currently circulates as our money, from who it comes, where they get it and under what terms and conditions is at the very least corruption by negligence at the very worst someone who has sold his fellow citizens down the river to ride on the coat tails of the Anglo-Saxon private banking crime ring for personal enrichment as opposed to using his knowledge to defend wider society?

Joseph Stiglitz Former World Bank Vice President and Nobel Laureate in Economics is finally admitting your can not achieve longterm social outcomes from just tweaking the entirely interest bearing private loan based money supply pyramid scam.
He is now joining the likes of other senior elements of the international supply side of money such as Michael Hudson and David C Korten who have been 'out' for decades now saying there needs to be fundamental reform.
http://www.economonitor.com/blog/2013/05/the-lessons-of-the-north-atlantic-crisis-for-economic-theory-and-policy/?

"Markets are not stable, efficient, or self-correcting

The big lesson that this crisis forcibly brought home—one we should have long known—is that economies are not necessarily efficient, stable or self-correcting.

There are two parts to this belated revelation. One is that standard models had focused on exogenous shocks, and yet it’s very clear that a very large fraction of the perturbations to our economy are endogenous. There are not only short‑run endogenous shocks; there are long‑run structural transformations and persistent shocks. The models that focused on exogenous shocks simply misled us—the majority of the really big shocks come from within the economy.

Secondly, economies are not self-correcting. It’s clear that we have yet to fully take on aboard this crucial lesson that we should have learned from this crisis: even in its aftermath, the tepid attempts to fix the economies of the United States and Europe have been a failure. They certainly have not gone far enough. The result is that we continue to face significant risks of another crisis in the future."

Joseph Stiglitz Former World Bank Vice President


My Universal Public Credit Public Policy Submission containing irrefutable proof of the highest level of the pyramid scam we suffer under also contains many tried and tested solutions from past and present. Please feel free to put your name to it and submit it to public policy debates!
http://publiccreditorbust.blogspot.co.nz/2013/04/universal-public-credit-public-policy.html

2 comments:

  1. Hi Ian. Great work. I see this subject of money creation is finally being debated in the UK parliament. I recently wrote to Little bringing his attention to that debate with relevant video attached as he might need pictures to get it and grow some balls.
    After watching the level of ignorance,naivety,apathy, self interest and down right stupidity of the majority of
    our electorate last election reform is not possible at the moment I think.The problem is how to encourage the type of quality people that we have in this country, who would change things, to enter politics. The only way I can see is if we can get a movement going to encourage the electorate to abandon the now ineffectual party system all together and vote in a parliament of independent MPs with only their electorates to answer to. Most of the quality people I am referring to would never go through the party system shit fight to serve their country but could be encouraged to enter as an independent. What thinks you of that idea. As I said at the moment I do not think that would be viable but when the crash comes my fellow countrymen will be forced to turn off the rugby, reality TV etc distractions and pay some attention to who they elect to run the country, with what policies and may be open to such an idea.
    I watched in amazement last election when the electorate was told that they are being lied to by Key and they are being mass surveiled by Edward Snowden and then went on to give him a bigger mandate.
    I feel a lot more people with a brain in the country are becoming more informed and aware that the banks are the problem and would be a lot easier to convince of proper banking practice than in the Social Credit party days
    The problem is how do you get a truck driver in Porirua to understand a new financial system. It would have to be explained in very simple terms and I think that is where Social Credit failed. Everybody who understands how the present system works against the bulk of the population can see Social credit would be a better system for the country.
    Of course,as you know, if the country took this route the New World order would not be amused and would come down hard on New Zealand. They would not like to see the idea of actually using the democratic process to better the lot of the majority to spread. But after the crash people might be pissed off enough to consider it.
    I am always looking for a devils advocate to discuss this idea with for better governance and it's viability. The bulk of kiwis I talk to will run from you when you discuss politics.
    All the best to you and if you know of folks with similar ideas I would love to get in touch with them.
    Good Health

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