"Financial fire-wall" legislation urgently needed says Direct Democracy Party.

"The Government must set aside petty politicking and urgently legislate to create a "financial fire-wall" to protect the people against losing their homes and businesses through the inevitable surge in bankruptcies that will follow in what may be shaping up to be a major world financial system collapse" says Direct Democracy Party Leader Kelvyn Alp.

"There are no quick fixes to what is happening in New Zealand and around the world and the need to ensure people are protected against such events is not only essential but an obligation of Government" says Mr Alp.

"It was not the mum and dad investors who created this situation, but instead the greed of the sanctioned few, and unless this country immediately moves into protection mode, the devastation this will cause to people is insurmountable. It is obvious that, regardless of the talk around financial circles that try to explain the current financial meltdown most obvious in the collapse of 8 (and counting) Finance companies away as simply "market corrections" or a "lack of liquidity" the problem is much simpler - irredeemable debt, and nothing more.

What we owe, we can't pay back - ever, and the sooner people wake up to this the better" says Mr Alp.

"For far too long the unscrupulous middle men, hedge fund mangers, dodgy investors and the money masters have been sucking the working life's blood out of this nation while the people work their guts out just so they can afford to be broke".

"All political parties represented in Government must now come together for the good of this nation and pass legislation to ensure that no one loses their homes and that no state registered banks shall close their doors regardless of the difficulty they are in or may encounter".

"We must not try to pretend that any currently proposed reforms will work, because they will not. In the short term there is no quick fix, all we can do is soften the blow and as a nation come together to pull ourselves out of it".

"The Direct Democracy Party of New Zealand has been warning of the problems within New Zealand's monetary policy, and the public may have caught on sooner and demanded something was done if we had had a fair hearing via the media. Whatever our political persuasion, we are all New Zealanders first and as such we owe it to each other to pull together in times of need. This is one of those times" says Mr Alp.

"If we still owned our assets instead of them now being in private hands, we could lessen the burden of people by dropping the costs of everything from power and telecommunications to taxes, rates and transport thereby enabling the affordability of necessities to which the costs are driven higher through the need to factor in debt".

"We must create this financial firewall to shield this nation from potential total financial collapse, and once we have achieved this, we need to start to regenerate our production industries, encourage farmers and agriculture sectors and every other sector that creates value added products" says Mr Alp.

"Monetary reform will come when we are prepared to face the reality that for so long we have allowed others to pretend that debt was an asset. Why does it take an impending tsunami-like crises before people will get involved and come together to put things right?".

Steve Taylor, Deputy Leader of the Direct Democracy Party, is equally concerned: "We have had 8, read the figure, 8 Finance companies fall over in just 15 months. The latest one, FDC Finance in Nelson, had a run on its cash-flow as spooked investors rushed to retrieve their money. Not surprisingly, there was not enough cash on hand to go around - now 1000 more investors have to wait and see if their savings are safe - our current monetary system of always owing more than we can ever pay back is a fools paradise" says Mr Taylor.

ends

© Scoop Media