Media Release
Friday 29 May 2009

Key objectives of a monetary reform prescription

“The key objectives of a monetary reform prescription are to enable a healthy producing economy that provides us all with sufficient income” said DSC Finance Spokesman John Pemberton. “It is not to provide massive profits for banks or to rob people of their life savings through collapsing Finance Companies and Share Markets.

“The producing economy is not the problem. It has, at times, clearly demonstrated that it can create the range, and quantity of goods and services people need and want. What is at fault is the mechanism we use to enable the wheels of production to turn - money and debt.

“The Monetary Reform Prescription:

• The Government to take back from financiers, on behalf of the public, our right to control the credit of the nation and to manage it as a public utility. The public utility will have the responsibility to introduce all new credit into existence.

• Money is to be regarded as a ticket to transfer the goods and services produced by the talents of our people, utilising the tools of science and technology, to the consumer –these tickets (money) should not be loaded with interest-bearing debt to a private financial institution.

• The gap or shortfall between the total value of our goods and services (GDP) and the total income available to spend on those goods and services needs to be filled without the burden of debt. This is to be done by treating the gap as a positive and monetising the appreciation of the nation’s increase in production value over incomes available. The best way to distribute this extra income should be investigated.

• The government shall spend sufficient credit into existence to revitalise the New Zealand economy by stimulating domestic industry, and funding infrastructure maintenance and development.

“The adoption of this prescription would give New Zealand the strongest economy on earth” Mr Pemberton concluded.

ENDS

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