Most of us Pensioners can remember how ANZ and Westpac went about wiping out the regional Trust Banks around the Country. Regional Trust Banks were active in supporting small business and small holding farms, providing resilience to small communities and ensuring the money cycle rotated several times within communities before lodging back in banks as mortgage interest payments.
The other regional feature was the number of small credit unions and contributory mortgage schemes operated in the past, that due to regulation that much favored the banks, have now vanished and severely limited the small business owners choices so that small business activity is dictated by foreign bank lending policy. Gone too are the various Local Body Bonds which attracted local investment and where dividends inevitably ended up returning into smaller communities serving to extend local resilience and promote the money circulation.
I would ask since Councils are empowered to undertake regional commerce, Why does Not every Regional Council operate a standalone Regional Public Trust Bank, which might have as one of its priorities, the funding of local Regional Infrastructure, including public private partnerships in Sewer, Water and Electrical distribution, and waste disposal. Logically the Regional Councils might also have a pathway for local investors to participate with investment partners limited to NZ Citizens. Also to provide property based and life based insurance services. Why are these essential services providing a profit conduit to overseas investors when local investment might reap the benefit of an industrious, practical and prudent community.
Well done with the accurate analysis and soundly argued submission. Bruce Beetham said it back in 1980 - The current system rewards speculation in existing assets rather than investment in infrastructure projects that add value to the economy, or increased productivity. What's changed in 44 years? The situation has got worse, facilitated by the Lange Labour government's implementation of Thatcherism and Reaganomics. The Reserve Bank has to fulfill the tole that most of the public thinks it does, ie supply the nation's money to a strictly controlled banking sector. Until that happens nothing's going to change.
Most of us Pensioners can remember how ANZ and Westpac went about wiping out the regional Trust Banks around the Country. Regional Trust Banks were active in supporting small business and small holding farms, providing resilience to small communities and ensuring the money cycle rotated several times within communities before lodging back in banks as mortgage interest payments.
The other regional feature was the number of small credit unions and contributory mortgage schemes operated in the past, that due to regulation that much favored the banks, have now vanished and severely limited the small business owners choices so that small business activity is dictated by foreign bank lending policy. Gone too are the various Local Body Bonds which attracted local investment and where dividends inevitably ended up returning into smaller communities serving to extend local resilience and promote the money circulation.
I would ask since Councils are empowered to undertake regional commerce, Why does Not every Regional Council operate a standalone Regional Public Trust Bank, which might have as one of its priorities, the funding of local Regional Infrastructure, including public private partnerships in Sewer, Water and Electrical distribution, and waste disposal. Logically the Regional Councils might also have a pathway for local investors to participate with investment partners limited to NZ Citizens. Also to provide property based and life based insurance services. Why are these essential services providing a profit conduit to overseas investors when local investment might reap the benefit of an industrious, practical and prudent community.
Well done with the accurate analysis and soundly argued submission. Bruce Beetham said it back in 1980 - The current system rewards speculation in existing assets rather than investment in infrastructure projects that add value to the economy, or increased productivity. What's changed in 44 years? The situation has got worse, facilitated by the Lange Labour government's implementation of Thatcherism and Reaganomics. The Reserve Bank has to fulfill the tole that most of the public thinks it does, ie supply the nation's money to a strictly controlled banking sector. Until that happens nothing's going to change.