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Reserve Bank

Libz Propose Winding Down Reserve Bank

The Libertarianz Party is asking John Key to consider postponing and possibly cancelling any replacement for retiring Reserve Bank Governor Alan Bollard, who has announced he is stepping down in September.

“We would like to see a free market in banking and the money market, rather than the bureaucratic interference that has existed for decades - but which failed to prevent the ongoing recession,” said party leader Richard McGrath.

“There is no place for central banks in a free society,” he added. “John Key should take this opportunity to put off any replacement for Mr Bollard, and consider making his position redundant, thus allowing private banks to print their own money.”

“It’s high time the Reserve Bank’s counterfeiting was stopped. The money supply should be managed by free-market banks, ideally backed by durable assets such as gold.”

“This is an ideal opportunity for the National Party to take a bold and decisive step toward open markets and a freer economy, which will hasten this country’s recovery from the economic downturn.”

For more information, see www.libertarianz.org.nz

ENDS

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