So why did the Federal Reserve of New York “Lend” $ 9 Billion ($ 3000 Per Kiwi) to The NZ Reserve Bank AtT the End of 2008

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9 thoughts on “So why did the Federal Reserve of New York “Lend” $ 9 Billion ($ 3000 Per Kiwi) to The NZ Reserve Bank AtT the End of 2008

  1. Why don’t we start printing our own money like Hitler?
    Only problem is we’d probably end up back in the Stone Age
    We’re just lucky to have such a good PM as John Key
    Acting in the Countries best Interests

  2. Because the NZ Treasury decided it needed to increase overseas borrowing and shopped around for institutions willing to lend to NZ.

    It’s like getting a personal loan, but on a larger scale.
    If you want to buy a car/house etc you go to the retail banks and compare interest rates.

    The NZ Treasury saw a need to borrow to cover Government costs (due to lower revenues from taxation and the GFC etc) and went to the large international financial institutions asking who could lend to them. The NYFR is just one of a number of international institutions that lend to NZ.

  3. motherf..k..s A mechanism co-erced onto the people to create debt can you imagine the interest on that 2 -3 times what was borrowed. Specifically structured to chain new zealanders to the american economy. 2012 The new rape and pillage of our society and resources by corporate entity’s

    • In New Zealand there are a handful of foreign-owned banks and ONE New Zealand owned bank, which I think it’s fair to say doesn’t appear to have benefited from that kind of a cash injection. Sorry, that’s not an answer, but it narrows the answer down to nobody here in NZ getting some sort of divvie-out from the reserve bank of New Zealand. Is this like some sort of fancy money laundering scheme?

      • From what i’ve been able to gather, the reserve bank of NZ, at least until 2008, was able to act responsibly towards NZ citizens, probably by virtue of NZs smallish size, flying under the radar and avoiding the worst depredations of the petropirates and currency corsairs.
        Now they seem to be more desperate, not only for cash, but also for a bolt-hole. Keep up the good work Ev, it really is the most valuable thing

        • Thank you Steve, I have been somewhat amiss over the last two weeks because we had a young couple full of energy helping us with veggie beds and a container that needed painting and other assorted energy rich activities on our “farmette” but I will be back with a vengeance! (I hope. LOL)

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