Around 97% of all money is created as debt by a privately owned banking system. It is non existent and we pay interest on the loans they extend to us. This money is not based on savings or deposits. This is money created out of thin air for which we pay with our labour in return. Here is the second half of a recent Max Keiser show about the counterfeiting banksters.
http://positivemoney.org/2015/05/charges-icelandic-banks-money-counterfeiting/
John Key was one of those people who helped build what is basically the biggest Ponzi counterfeiting scam this world has ever seen through the selling of huge amounts of worthless Derivatives. In other words: John Key is a counterfeiter. Plain and simple. In Iceland the home owners association is taking the banks to court for counterfeiting and the government is talking about creating sovereign money as in by and for the people separate from the privately owned banking system.
Aotearoa: A Wider Perspective 