Seemorerocks: The NZ government has created $50 BILLION out of thin air

Tuesday 19 May 2020

The NZ government has created $50 BILLION out of thin air

This is HIGHLY IMPORTANT INFORMATION for New Zealanders that NO ONE will tell you.

I am grateful to State of NZ who has pointed out information that I did not know, yet wanted to know.

Apart from discussing the very dangerous Health Response Bill and Budget 2020 which was passed in record time (23 hours!) with zero democratic oversight he discusses New Zealand's debt problem.

With this lockdown that has been inflicted on us the government has been throwing around humungous amounts of money.

The item below shows that the NZ government has created $50 billion (that is $50,000,000,000 if we are talking about the American billion and not the old-fashioned British billion which has an extra 3 noughts). That is $50 billion that is created out of thin air through the buying up of government bonds by Treasury allowing the government to put more money into circulation (quantative easing - QE-in other words).

For comparison if we look at the figures if we had the same population as the United States (60 times our own, or 5 million) but translates into $3,000,000,000,000 or $3 trillion.

P.S - I posted this article on a Facebook page called John Key has let down New Zealand. They were up-in-arms when John Key borrowed huge amounts but somehow it is all OK when under Jacinda creates BILLIONS in new money ("banks do it all the time" - no, it is the government.

I have a word for that (several actually) - HYPOCRISY and DOUBLE STANDARDS. Leftists in la-la land.