In order to understand the Sub prime crises and the resulting collapse of the western monetary system it is important to understand that the Sub prime crisis is not the result of some bankers making a few erroneous judgement calls but that this is a crisis 20 years in the making.
20 years of developing a series of new financial products and a steady stream of lobbyist to the senate and congress, who on behalf of the banking world lobbied for the total deregulation of the banking world. These regulations had been put in place after the 1929 Wall street crash to protect the world for a repeat of the “the great depression”. The depression itself was a result of a banking world gone wild with unsupported speculation, and the depression was the result of the bursting speculative bubble. If you want more information on the machinations of the bankers world than I would advise you to watch the video the “Money Masters”. It is a long watch, but well worth it because it chronicles the development of the current monetary system and it shows that it is a private corporation that has successfully bypassed the democratic system and is allowed to issue money against usurious interest rates. If you can’t spare the time than watch “Money as debt” because it shows how fraudulently money is created out of thin air by private bankers and how again the usurious interest rates are what is killing the economy and how unsustainable this system is.
If you think that New Zealand is separate from this system than think again. In 1989 Don Brash prepared the Federal reserve act which was signed by the than labour prime minister (I doubt if he knew what he was signing) separating the money from the government that’s us to the bankers.
90% of all money in NZ comes from abroad, why?
Why doesn’t NZ have it’s own money supply?
NZ grows it’s own food, has gold in the ground, has only a small amount of human beings to support, we should be rich as crussous. So what has gone wrong.