Dominos are starting to fall... First Cyprus, now New Zealand

reply to post by OptimusSubprime


This is amazing, as far as I knew, the banks in NZ are in relatively sound condition. This policy seems designed to
create a bank run. Talk about falling on their swords!

We're discussing this topic on ATS Live! tonight!

There are more details on the show in the link

this is the first I have heard about this and I live in New Zealand while it wouldn't surprise me seeing as how we have a Rothschild baby as a prime minister who will do whatever it takes to keep his lips firmly attached to Americas behind. the only thing I have heard about banks is that they will have to back pay the CUSTOMER for any overdue credit card payments and overdrafts to the tune of multi billion dollars which is a good thing. and New Zealand's economy isn't that bad to tell you the truth what with suppling a third of the worlds dairy and everything

reply to post by bronto


where as the national government likes to take from the poor and give to the wealthy national has hiked up taxes in almost every damn sector trying to make good on its promise to get back in the black but they do nothing bout unemployment in this country

There is an important aspect to this story that no-one has mentioned, and that is the background of New Zealand's prime minister John Key.

John Key began his career as a FOREX trader. There are strong claims that he was involved in the 1997 attack on the New Zealand Dollar. Later he moved to London to work for Merrill Lynch. He was deeply involved in the derivatives trade and in the process of moving large sums to Ireland on behalf of Merrill Lynch in Ireland now crippling the Ireland population.

If that wasn't bad enough, he went to work for the Federal Reserve!

This is a very interesting interview from 2005 where he starts talking about the vision for New Zealand to become the "Jersey of the Pacific", and how great the Irish economy is. n hindsight, it reads like a confession.

Key is clearly on a roll as he lists the options New Zealand could explore if it decided to abandon outdated ideology and take a more pragmatic approach to growing the economy.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.

Now for New Zealand.

Already he is planning a feasibility study to see if some of Ireland's measures can be adopted here to fuel an economic transformation. "Why not look at the success lessons from other small island economies?" he asks. The Irish model is perhaps more easily understood here than the Jersey model, with its whiff of tax-haven activities.

This is my favourite bit:

In Key's case he can also point to the invitation he received in 1999 to join the Foreign Exchange Committee of the Federal Reserve Bank of New York as further evidence of his economic management credentials.

www.nzherald.co.nz...

Now, should this man be running a country?

It is time to redraw the rules for banking whereby customer deposits are sacrosanct.requiring the custodial duty of the bank...perhaps even for no interest. Then there should be two tiers of risk taking by the customer. For those who wish to lend their money for a return they should be able to earn interest on their deposit but if the bank falls into financial trouble from lending or investing those deposits then that return (interest) can be clawed back - but not the principal up to the FDIC coverage. For those who want an even greater return they would be direct investors of debt in the bank (upfront not after the fact) and their deposits would take the form of unsecured debentures (paid before common and preferred stock holders in the event of bankruptcy). The bail-ins seem to be by design to make the masses clamor for change and safety in the financial system. Order out of Chaos.

reply to post by CosmicCitizen


WOW! Right after bilderberg and right before G8 and the beginnings of WW3 - these illumanati pigs are just coming out of the woodwork.

America, Europe, Austrailia - you know they're coming for you next.

It amazes me how some folks confuse socialism with corporatism. Some folks here need to actually open a book or two, and read about what is happening in the world. Mind you, I'm not a leftist socialist, but seeing people toss words about that fit with their infantile ideologies is a bit disheartening.

Anyone that believes that this type of theft isn't coming to the United States should take heed...keep what you need in your checking accounts....but make sure you keep the rest for yourself.

the idea that you need a BANK for a "savings" is RIDICULOUS. They give you nothing in return for holding your money, and best believe when the time comes they will STEAL YOUR EARNINGS.