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Petition to Require Reserve Bank of New Zealand to Issue All NZ Money


$170 of $2,500 goal

Given by 7 generous donors in 9 months

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Our proposal would end the role of private banks in creating our money. Presently 98% of our money is issued by private banks as loans.

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Positive Money NZ is proud to announce the launch of their petition calling on Parliament to inquire into giving the Reserve Bank of New Zealand the sole ability to issue all NZ money (notes, coin, electronic). On acceptance, the Clerk of the House will send our petition to a relevant Select Committee to consider our request in detail

If adopted, our proposal would end the role of private banks in creating and controlling our money supply. Contrary to popular belief, the vast majority (98%) of money circulating in our economy isn't issued by government, but by private banks when they create loans. This includes billions of dollars the NZ government borrows from banks to cover budget deficits.

In 1936 Michael Joseph Savage's government set a clear precedent for what we are proposing by using Reserve Bank credit to finance the construction of thousands of state houses and other vital infrastructure. This injected millions of pounds into the economy, enabling NZ to emerge from the Great Depression much sooner than most countries.

People can sign petition electronically at this link: https://www.parliament.nz/en/pb/petitions/document/PET_78901/petition-of-stuart-bramhall-require-reserve-bank-of-new

Use of funds

Funds raised will cover printing paper petitions and informational leaflets and Facebook and newspaper ads.


Latest donations

  • Martin Taylor

    Martin Taylor on 25 Oct 2018

    $50

    $50

    • Positive Money New Zealand

      Thank you so much for your generous donation to our petition campaign. We are extremely grateful for your support.

  • Rowan

    Rowan on 27 Sep 2018

    $40

    Plug the hole, we are hemorrhaging our wealth needlessly through interest on international loans. Bail us out instead of the banks for a change.

    $40

    • Positive Money New Zealand

      Rowan, thank you so much for your generous donation. We will definitely put it to good use. Stuart

  • Peter

    Peter on 21 Sep 2018

    Private

    This is probably one of the most important issues of our time.

    Private

    • Positive Money New Zealand

      Thanks so much for your generous donation of $50 to the Positive Money NZ petition. We're extremely grateful for your support.

  • Guest Donor

    Guest Donor on 10 Aug 2018

    $15

    $15

  • Cliff

    Cliff on 10 Aug 2018

    $5

    Go PM!

    $5

Page created by

Positive Money New Zealand (PMNZ) believes that private banks should not be able to create new money when they make loans. This is an extraordinary privilege which gives the financial sector an unfair and damaging advantage over other businesses. Banks should be restricted to providing current accounts, payment services, lending, and investing money on behalf of their savers. This will lead to a reduction in personal and Government debt, and will help to prevent another financial crisis occurring.

Funds will be paid to a verified bank account of Positive Money New Zealand.

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$170 of $2,500 goal

Given by 7 generous donors in 9 months

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Closes on 1 Aug 2019

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