Media Release
Wednesday 26 January 2011

Key blindly continues on wrong track

“Prime Minister John Key is overlooking the obvious in his quest for New Zealand’s economic salvation” said Democrats for Social Credit leader, Stephnie de Ruyter. “Our economic woes cannot and will not be satisfactorily addressed while he persists on blindly continuing on the wrong track.

“His concerns about high foreign debt levels, poor savings records, and low levels of productive investment, as expressed in today’s state-of-the-nation speech, are valid. And his desire to ensure that New Zealanders are in a position to ‘control our destiny as a country’ is laudable” Ms de Ruyter observed.

“However, the reality is that foreign debt levels will not reduce, New Zealanders will not be able to save more, and investments will continue to be inadequate for as long as this government holds power.

“Continuing to labour under the flaws of an out-dated financial system will not secure our right to control our own destiny. Nor will we be free to decide how best to meet the health, education, employment, housing, and social needs of our communities under Prime Minister Key’s ‘mixed-ownership’ model for partial privatisation of assets.

“We will not control our destiny or anything else until a New Zealand government accepts sole responsibility for the creation, issue and cancellation of credit - until New Zealand’s financial system is owned and operated by and for New Zealanders, as the Democrats for Social Credit Party contends it must be.

“Until that time, New Zealand will continue to be dependent on foreign loans to prop up our economy, and foreign owned banks to service our financial needs. And we will continue to be at the mercy of the global money markets.

“Future prosperity for our nation can be achieved only if New Zealanders own and control our money supply.

“That is the cornerstone of the programme of new economics proposed by the Democrats for Social Credit.

“It is the only means by which our economic sovereignty can be secured” Ms de Ruyter concluded.

ENDS

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