Media Release

Thursday, 18 September 2008

Here is the Money

Candidates had no answers for the Priority One audience at Bay Court this week, which was no surprise to Democrats for social credit (DSC) candidate for Tauranga Katherine Ransom. “They can’t ‘show the money’ because most of it is tied up servicing debt.”

“They promise growth and infrastructure without a whisper of how it must be paid for  more debt. Except for DSC, none of the parties inside or outside Parliament will face up to what is really wrong,” Ransom claims. “We are borrowing ourselves to death, and yet one major party is still blithely talking about borrowing more.”

“Tauranga can have growth. It can have public transport and other essential infrastructure. It can even have a university with a medical school. But under the present economic system, nothing will get done without borrowing from commercial banks, and paying for everything twice and three times over through usurious interest charges.”

“Meanwhile, our hardearned wealth billions of dollars every year in interest alone  floods off overseas and into the pockets of the already rich. Rates go up, prices go up, businesses go under and everyone loses.”

“DSC has an alternative  creating credit at cost from the publiclyowned Reserve Bank of New Zealand. It has been done before, for state housing, the Rural Bank and marketing boards, enhancing the prosperity of all New Zealanders for decades.”

“If elected to Parliament, this is exactly where I would start  advocating hard for the funding of local body infrastructure, public works, education and health through community credit, lent at cost (less than 1%) from the Reserve Bank,” says Ransom.

“Individuals will have more money in their pockets through lower rates and prices, business will thrive, Tauranga will have sustainable growth and everyone wins.”

“Community credit from the Reserve Bank of New Zealand  there’s the money.”

ENDS

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