Money for Nothin’

May 1, 2020

By NZB3

As Anarchists feared, the post-COVID “help” from The State is going to be worse than the alleged ailment it sets out to cure. The Reserve Bank of New Zealand have added a bunch of zeros to their special spreadsheet and nobody stopped them..

“Twenty years ago this would have been called unconventional monetary policy. Now, with COVID-19, effectively every developed country around the world is undertaking this sort of practise.”- Christian Hawkesby, General Manager of Economics for the Reserve Bank of New Zealand; Seven Sharp; TVNZ; See clip below

Clown World. What has become of the RBNZ mandate to keep inflation low? How can we ask no more of our State Money Controllers than this?

Freely admits that what makes no economic sense is what is now being done. Why? “Everyone is doing it.”

How can money printing work now when it never worked before? Inflation is the worst tax there is. It’s the one you don’t feel.

“Money is a Spook”

“It will now be easier to get a bank loan to buy a house, with the removal of loan-to-value ratio (LVR) restrictions by the Reserve Bank, effective today.”- Home loans made easier as Reserve Bank scraps 20% deposit requirement for one year; TVNZ

Oh, the huggy nice RBNZ is making home loans easier for the nice young people buying their house? Because they caught one of the COVID slogans from the Prime Minister, “Be Kind?”

No. They’ve scrapped the Loan to Value Ratio (LVR) so that when houses devalue banks don’t have to call in the loans already extended. Because we’re on the edge of collapse and credit is contracting. Because if extraordinary measures are not taken people are going to be booted out of their houses.

The RBNZ has started printing money so they can loan (aka ‘buy bonds from’) to Labour 6.0 to the tune of $52 Billion. How do they secure this loan? They make banks do that by owning houses that hold certain value as per the LVR.

The RBNZ don’t have to secure their loan to Central Government anymore because they’ve done away with the LVR that would have kept them in check!

The security for this massive money print is now totally hypothetical- we’re supposed to just *believe* that the country is good for it. You have to. They’ve cut the automatic breaks and severed the alarm bells that would have contradicted ’em. They’ve solved the crashing plane problem by hammering at the aeronautical instruments that registered certain doom. They’ve bent the hands on the clock and called it “time travel.” They’ve put bubble gum over their Check Engine light. They’ve smashed the bathroom scales so nobody will be able to say anymore if we are objectively healthy and called it Body Confidence.