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Chris Leitch
Chris Leitchhttps://www.socialcredit.nz/
Chris Leitch was a campaigner for monetary reform since 1972. He was a former elected member of the Auckland Regional Services Trust and the first ever Alliance Party candidate, standing in the Tamaki by-election in 1992. He was the Social Credit Party's Whangarei candidate and leader. He passed away in January 2023 after a long battle with cancer.

Full Government Ownership of Kiwibank welcomed – Social Credit

Kiwibank ownership news

The move by Finance Minister Grant Robertson to take full government control of Kiwibank is fantastic news – for the bank’s customers and the New Zealand economy.

The bank faced the very real prospect of having some of its shares sold off to private investors had the NZ Superfund been allowed to increase its stake, likely an overseas owned bank.

Full government ownership ensures the bank’s profits remain in the NZ economy and are available for the government to spend on things like health care.

It also ensures the country’s banking sector is not totally dominated by overseas owned banks whose massive profits put an enormous strain on the economy as they are exported to their overseas shareholders.

Sadly Grant Robertson has chosen to borrow the funds necessary to take full ownership of the bank instead of using the bank the government already owns – the Reserve Bank – which could have funded the purchase at no cost to taxpayers.

That option was recommended to him in an aide memoir written by the Treasury and the Reserve Bank in May 2020.

Instead, taxpayers will be paying interest to the commercial banks that will create the money they lend to the government out of thin air, like fairy dust.

That taxpayer money should instead be going into healthcare, housing, reducing poverty, and education.

Mr Robertson could still use Reserve Bank funding if he wants to put services for kiwis ahead of profits for oversees bank shareholders.

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6 COMMENTS

  1. Well, it is only a matter of time the system pigs will banrupt Kiwi Bank with poor lending practices (aka slimy corruption) and then may be short bail out and then a big sell out. Only when all banks are nationalised, it will work biut that is noit going to happen with both left and right work for globalist.

  2. Interesting – no control over banking means the socialist agenda of CDC’s being used to control all wealth and who has it was due to fail without a bank to move all kiwis to by law – rem mandates and Covid legalisation easy to ban all foreign owned banks from trade by under cutting and making them leave as customers have to use CDC issued only by the kiwi and reserve banks. All linked into the compliance trail of the governments making reducing the welfare bill as CDC’s are just thin air and easily mined by government its-self.
    Hello SOCIAL Credit and total control – PS National will do no different due to their WEF graduates too. Watch this space either way the plans march forward to our new socialist utopia. Resist and vote independents in every election, freedom and your sovereignty are at stake people.

  3. So, the Govt took control of super funds and put the money on the Government books as collateral against Pfizer, and other pandemic related expenses. Jabby pops in to see the good folks at Blackrock. The Government takes back ownership of Kiwibank. Mmmm. ????

    • Most kiwi saver funds are returning less than half of the returns when compared to ivestment in real estate. What this means is that the kiwi saver funds can never be a good idea compared to fullying owning the house and paying off the mortgage.

      Go After Yanks (GAY) economics really.

  4. If that’s Social Credit’s view then they are not seeing the whole picture. You can bet your last dollar Kiwibank will be sold off to balance the books in the not too distant future. We have seen it before and we will see it again. The world has changed. We are no longer the free and independent country we once were, at least to the level we imagined.

    New Zealand is rapidly approaching the status of becoming a product that is bought and sold by the international investment market. Kiwibank will join the ranks of a financial Instrument of exchange to be traded for profit amongst the elite due to the debt incurred with the Pfizer vaccine rollout. It is one of many tools being used by the WEF to bankrupt, or bring sovereign countries under their control.

    This present situation can be squarely laid at the Government’s door, with the Prime Minister and the Minister of Finance… God help us all.

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