DSC economic plan announced

The Democrats for Social Credit leadership today released the Party's plan to establish a 'new economics' framework for New Zealand. Leader Stephnie de Ruyter and Deputy Leader John Pemberton said the DSC Plan for Financial Reform offers a workable alternative to the present system.

"The global debt system is in crisis but the DSC has a plan to keep New Zealand prosperous. This is achieved by replacing toxic debt-based commercial bank credit with social credit. The issue of social credit will be the sole means of money coming into existence and continuing to exist - and will be issued in the public interest, to serve the common good" said Mr Pemberton.

"It's crazy for our government to borrow from foreign lenders, with interest, when we could generate our own money supply" he said.

1. The publicly-owned Reserve Bank of New Zealand will operate as an independent statutory monetary authority with the sole power to create, issue, and cancel New Zealand's money.

2. Trading Banks will become licensed agents of RBNZ. Trading Banks will only be able to advance to their customers that money which has been made available by RBNZ. The trading bank's primary role will be to serve the commercial interests of the economy - business and corporate customers.

3. Specialist savings institutions, charged with serving the investment needs of New Zealanders and not the profit of overseas shareholders, will be encouraged. This refers to Credit Unions, PSIS, TSB and any other Community type banks.

4. An infrastructure division of the Reserve Bank of New Zealand will be established to take on the specialist role of managing investment monies required for low economic yield social investment such as: housing, roading, environmental and local authority infrastructure.

5. The division within the Reserve Bank which carries out the supervisory role over banks and financial institutions will be transformed into a stand-alone, independent, publicly owned organisation, the Prudential Regulatory Authority of New Zealand (PRANZ).

6. The RBNZ will be charged with identifying the income shortfall between total prices and total incomes (The Gap). Debt free money will be made available by RBNZ to the New Zealand Government to fund "Kiwi Income" (KI), in the form of a national dividend to every resident New Zealander. RBNZ will also be able to fund health, education and environmental projects in ways that decrease the call on family incomes.

7. The RBNZ will be responsible for the availability and flow of working funds necessary to facilitate trade with other nations. RBNZ will ensure that the money made available by each nation for trade is backed by the real value of goods and services. RBNZ will facilitate an exchange of equivalent value with no undue influence from currency, and other, speculators.

Party leader Stephnie de Ruyter said that the DSC is the only political party with a comprehensive plan to secure New Zealand's future as a sovereign democracy.

"Our financial system should belong to us and work for us. The time is right for social credit to replace social debt in New Zealand" she concluded.

ENDS

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