63 days ago

Time To Stash Your Cash Folks?

Geoff from Bay of Islands

Time To Stash Your Cash Folks?

A while ago, I wrote a piece somewhere titled “Stash Your Cash.” I decided, in view of receiving this www.youtube.com... today from a very good friend, that it might be time to revisit the idea. Before doing so, the guy goes on about “banks printing money.” Banks do NOT print money these days, they simply tap a few computer keys and create DEBT out of thin air. When you see tv news clips of printing presses churning out masses of bank notes, it is all distrsction and disinformation. If you got to www.rbnz.govt.nz... you will see that there is a grand total of NZ$6,523,841,000.00 in notes and coins in circulation. Go here www.rbnz.govt.nz... and you will see how much money is in the banks. NZ$318,977,000,000.00. Think about this. When you put money into an account, you are supposed to be able to withdraw it in cash (legal tender) if there is only NZ$6,523,841,000.00 in cash in existance,how would folks get paid if they all wanted their money at the same time for whatever reason? Here are a couple of other questions (1) What does the bank do with the money that you put into the account (2)Does the money in the account remain your money or does it become the bank's money?

OK, back to the video www.youtube.com... At the 7 minute mark he talks about visiting a pension, listen carefully. The pension fund was going to sell negative yielding bonds, take the money in BANK NOTES and put it is a vault. Is there a lesson here? This www.independent.co.uk... is anrticle from way back in September 2016 headlined “Swiss savers are storing cash in boxes in order to tackle negative interest rates” Swiss companies withdrawing cash, storing it and buying insurance because insurance costs less than the negative interest charged by banks! Herefinance.yahoo.com... is another one from just a few weeks ago and how about this www.stuff.co.nz... for one closer to home?

Moving right along, at the 12 minute mark he suggests going to usdebtclock.org... I used to check the NZ Debt clock commodity.com... each day, haven't for while, but did after hearing this. In the debt figure of just under NZ$134 BILLION, there is no reference to Unfunded liabilities and her's why “The debts of state-owned enterprises are not included and neither are obligations for future state and Civil Service pensions, nor the risk of guarantees given to the nations’ bank depositors”. The reference to “bank depositors” is irrelevant at present as the new deposit guruantee wcam has yet to be set up, but what about the “future state and Civil Service pensions,” I wonder if those liabilities have been “funded.”

Where oh where have our gold reserves gone, oh where oh where can they be? Remember the nursery rhyme, “Where oh where has my little dog gone? We might ask the same about New Zealand's gold reserves. The RBNZ told me, in a recent e mail, that the RBNZ has no gold. Interesting. As of 30 August 1961, New Zealand had 986,908.66 ounces of gold which in those days was valued at NZ$35.00 per ounce. On 31 August 1961, the NZ Government “sent “969,023.03 ounces to the IMF and others. That left a balance of 15,885.63 ounces with the RBNZ . I wonder where that went. Think about this, in 1961 , 986,908.66 ounces at US$35.00 per ounce would have been worth US434,471,803.10. Today at US$1,500.00 per ounce it would be worth US$ 1,477,362,990.00 (NZ$2,411,351,872) I wonder if the IMF and others still have what we sent and what happened to the 15,885.63 ounces remaining here, which would be worth US%23,828,445 (NZ$38,892,787.93) Interesting eh?

Might be an interesting story for Rob Stock's weekly “Money Matters” Opinion piece in the Bay Chronicle at least.

More messages from your neighbours
5 hours ago

What's On: Floral Arrangements - Christmas Theme

Adrian from Albany Heights

Ever wanted to create your own Christmas table display or wreath? Then this is your opportunity to find out how from a top florist. $15 p/p pay on the day.
Floral Arrangements - Christmas Theme
  • Kaipara Coast Plant Centre & Sculpture Gardens
8 hours ago

Poll: Should horse racing be banned?

The team from Neighbourly.co.nz

The Melbourne Cup can be seen as an excuse for people to dress to the nines and get so drunk that they often miss seeing the races.

The physical and psychological pain these horses suffer is immense, with the movement against horse racing growing as animal welfare advocates call for change. What do you think? Should horse racing be banned? Vote in the poll below.

Image
Should horse racing be banned?
  • 31.5% Definitely - it’s inhumane
    31.5% Complete
  • 14.4% No - it’s a bit of harmless fun
    14.4% Complete
  • 3.2% I don’t have an opinion
    3.2% Complete
  • 50.9% Only for those found guilty of abuse
    50.9% Complete
841 votes
18 hours ago

FINAL WEEK! We’re giving a Northland business a $20k megaphone.

2degrees

Hi Neighbours,

2degrees is all about fighting for fair which is why we’re giving one local business a $20,000 advertising package. Apply before 20th November at 2degrees.nz/ShopLocal

Apply at 2degrees.nz/shoplocal. Hurry, entries close November 20.

T&Cs apply.
Apply now

Image