I am interested in the Tax Payers Union and its influence. I understand they have membership mailing list of 200,000 and distribute regular opinion pieces through this channel. I find it surprising that we accept TaxPayer Union Curia Research political polling given their clear interest in skewing the results, and Curia's withdrawal from Research Association of New Zealand as a result of being challenged for poor practice.
Just as all parliamentarians should have to record all contact with lobbyists, they should also have to record who the lobbyist is ultimately being engaged by and have a public record available for everyone to see of all lobbyist contact.
Thanks for doing this work Bryce. You are one of the few bright lights in a sea of patetically subservient media, both in New Zealand and throughout the west. It's gloomily dark out there for those who had believed New Zealand mainstream media to be free of manipulation, frank and fearless. Keep holding the torch..
But what about international influences, such as the UN. How will you determine the integrity of influence and information that is used by Government officials from the likes of the UNFCCC and the IPCC.
Whilst those that read your articles would all agree that the lobbying issues need to be resolved, there is far too much ablaze in the moment for the general public to get behind the necessary reforms.
Sadly, I think it will never change as nz is far too small and interconnected for an outsider to come along and smash it to pieces.
The Crux Of The Foreign Privately Owned Bank Fraud That Is Killing Our Country.
An email trail released in an official information request reply from the New Zealand Treasury makes it very clear to anyone with a half a brain exactly what is the greatest cause of the economic instability New Zealand is suffering.
That being due to the price of land, price of sales of existing housing and the cost of mortgage interest not being included in the measure of inflation for monetary policy adjustments, has allowed the foreign privately owned investment banks that provide our money supply as loans owed to them, to loan much more of their computer typed money creating credit into the non export producing residential housing sector than than the productive sectors or the people of our economy could ever afford.
In the emails a bunch of young Treasury policy wonks are conversing about how they have just realised the fact that the price of land or the sale of existing houses has not been accurately accounted for in the measure of inflation for decades and the detrimental impact of this upon New Zealand society given how the banking sector has taken advantage in lending more into housing than should ever have been allowed.
Back in 1999, the price of land and sales of existing houses was removed from the equation for measuring the level of inflation for monetary policy adjustment.
Many argued at the time and many since that this would be a great moral hazard essentially removing the bells from the Interest Rate Inflation Targeting alarm system, which would allow the banking sector to lend unsustainable amounts of written credit for the destructive unproductive trading of already existing houses for capital gains on the land price.
Former Minister of Finance Grant Robertson has written of his concerns about house pricing not being adequately accounted for in the measure of overall price inflation.
Many impeccably credentialed people among international regulatory agencies condemned Interest Rate Inflation targeting as an outright failed system after the 2008 fraud-induced global financial crisis.
Yet to read these young policy wonks having these "quiet" discussions, asking such questions as "why, is there interest being shown from the parliament" reminds me of looking at a picture of young boys running onto an old battlefield and playing with unexploded artillery shells not having a clue of the danger, as some more senior people are quietly trying to encourage them to put them down and move away.
Subject: FW: Media Release: Reserve Bank's response to Minister of Finance
Hey Bastiaan, Chris and Gabbi,
I’ve been further pondering how housing enters the CPI and increasingly coming to the view that urban land is significantly underrepresented. The home ownership component only includes construction costs because the land is treated as an asset. To me, this unreasonably overlooks the significant consumption cost of urban land (whether measured as the direct land price, imputed rents, or mortgage costs), and inflation of urban land costs has been, if anything, the rising price of greatest social concern over the last decade. Urban land is included to a minor extent –
it’ll be indirectly captured in market rentals and real estate fees (to the extent that these are correlated with house prices), but owner-occupied urban land costs are otherwise omitted. I’ve outlined my thoughts in a bit more detail in the email below from December.
I’m wondering what the CPI would look like if it had, say, 5% weight on urban land (whether measured as direct land price, imputed rents, or mortgage costs). Do you know what the best long term nationwide time series of urban land prices would be? Would it be REINZ median section prices?
Here in New Zealand during the Five Yearly Monetary Policy Committee Review process the topic of if Real Estate is measured accurately enough in the CPI measure of inflation used for monetary policy adjustments, the private banking sector won the day over those that raised concerns, with basically been judged it should remain the same because the public now trust it:
Treasury Advice on the Reserve Bank's Proposed Scope of Remit Advice Information Release
This will include a discussion of alternative price measures and how housing costs are incorporated into the CPI in New Zealand
34.
One area of concern raised in public submissions was the role of housing costs and house prices in the measurement of inflation. One submission also raised concerns around the inflationary outcomes over time for working class communities. However, most public submissions generally supported retaining the Consumer Price Index (CPI) as the price measure targeted by the MPC.
35.
While the current position of the RBNZ is that the CPI remains fit-for-purpose, given the public interest in this issue we believe there is value in including the definition, or measurement, of prices in the second consultation."
Here we sit today with the banks inside and outside of the New Zealand economy, owned by the same major shareholding few, with a clear conflict of interest, having made record profits pumping an abnormal land price bubble, with the powers that be now prescribing higher compounding interest rates as the solution as though its all our fault.
The Crux Of The Foreign Privately Owned Bank Fraud That Is Killing Our Country.
An email trail released in an official information request reply from the New Zealand Treasury makes it very clear to anyone with a half a brain exactly what is the greatest cause of the economic instability New Zealand is suffering.
That being due to the price of land, price of sales of existing housing and the cost of mortgage interest not being included in the measure of inflation for monetary policy adjustments, has allowed the foreign privately owned investment banks that provide our money supply as loans owed to them, to loan much more of their computer typed money creating credit into the non export producing residential housing sector than than the productive sectors or the people of our economy could ever afford.
In the emails a bunch of young Treasury policy wonks are conversing about how they have just realised the fact that the price of land or the sale of existing houses has not been accurately accounted for in the measure of inflation for decades and the detrimental impact of this upon New Zealand society given how the banking sector has taken advantage in lending more into housing than should ever have been allowed.
Back in 1999, the price of land and sales of existing houses was removed from the equation for measuring the level of inflation for monetary policy adjustment.
Many argued at the time and many since that this would be a great moral hazard essentially removing the bells from the Interest Rate Inflation Targeting alarm system, which would allow the banking sector to lend unsustainable amounts of written credit for the destructive unproductive trading of already existing houses for capital gains on the land price.
Former Minister of Finance Grant Robertson has written of his concerns about house pricing not being adequately accounted for in the measure of overall price inflation.
Many impeccably credentialed people among international regulatory agencies condemned Interest Rate Inflation targeting as an outright failed system after the 2008 fraud-induced global financial crisis.
Yet to read these young policy wonks having these "quiet" discussions, asking such questions as "why, is there interest being shown from the parliament" reminds me of looking at a picture of young boys running onto an old battlefield and playing with unexploded artillery shells not having a clue of the danger, as some more senior people are quietly trying to encourage them to put them down and move away.
Subject: FW: Media Release: Reserve Bank's response to Minister of Finance
Hey Bastiaan, Chris and Gabbi,
I’ve been further pondering how housing enters the CPI and increasingly coming to the view that urban land is significantly underrepresented. The home ownership component only includes construction costs because the land is treated as an asset. To me, this unreasonably overlooks the significant consumption cost of urban land (whether measured as the direct land price, imputed rents, or mortgage costs), and inflation of urban land costs has been, if anything, the rising price of greatest social concern over the last decade. Urban land is included to a minor extent –
it’ll be indirectly captured in market rentals and real estate fees (to the extent that these are correlated with house prices), but owner-occupied urban land costs are otherwise omitted. I’ve outlined my thoughts in a bit more detail in the email below from December.
I’m wondering what the CPI would look like if it had, say, 5% weight on urban land (whether measured as direct land price, imputed rents, or mortgage costs). Do you know what the best long term nationwide time series of urban land prices would be? Would it be REINZ median section prices?
Here in New Zealand during the Five Yearly Monetary Policy Committee Review process the topic of if Real Estate is measured accurately enough in the CPI measure of inflation used for monetary policy adjustments, the private banking sector won the day over those that raised concerns, with basically been judged it should remain the same because the public now trust it:
Treasury Advice on the Reserve Bank's Proposed Scope of Remit Advice Information Release
This will include a discussion of alternative price measures and how housing costs are incorporated into the CPI in New Zealand
34.
One area of concern raised in public submissions was the role of housing costs and house prices in the measurement of inflation. One submission also raised concerns around the inflationary outcomes over time for working class communities. However, most public submissions generally supported retaining the Consumer Price Index (CPI) as the price measure targeted by the MPC.
35.
While the current position of the RBNZ is that the CPI remains fit-for-purpose, given the public interest in this issue we believe there is value in including the definition, or measurement, of prices in the second consultation."
Here we sit today with the banks inside and outside of the New Zealand economy, owned by the same major shareholding few, with a clear conflict of interest, having made record profits pumping an abnormal land price bubble, with the powers that be now prescribing higher compounding interest rates as the solution as though its all our fault.
I have had a passionate interest in Geopolitical economics and New Zealand Financial system for over 20 years.
The hierarchy of money, where our money supply has come from, under what terms & conditions, and how those suppliers fund themselves in ways that create new money rather being dependent on any already existing money, debt bonds, meaning a very different skill set of knowledge is needed by our politicians to monitor the integrity of the system.
Unfortunately, it is a skill set a demonstrable number of our politicians, here and globally, do not have, meaning they are forced to ask for help from the very foreign privately owned investment bank sector they regulate.
This, I allege, has had a massive impact on the reducing standard of living of the citizens of our nation.
The good news is that there is existing precedence of other reputable nations that have chosen to do it differently to what New Zealand remains surrendered to and many reputable globally recognised economists that can show us the way.
This video below is a summary of my over 20 years of first source, from the horses mouth research I believe proves the foreign privately owned investment banks at the top of our money supply tree have defrauded our nation by intentional debt entrapment, but most importantly how other reputable nations have combatted it.
The production is admittedly amateur but I assure you the content is first rate.
It is my gift to my nation.
I would love for you to take a look and improve upon it, as I contend the money supply issue is becoming the issue of our time:
New Zealand Financial System Madness
(Please move the cursor back to the start of the video because I can't for the life of me figure out how to come up with a link that will share it starting at 0:00)
Hi Bryce,
I am interested in the Tax Payers Union and its influence. I understand they have membership mailing list of 200,000 and distribute regular opinion pieces through this channel. I find it surprising that we accept TaxPayer Union Curia Research political polling given their clear interest in skewing the results, and Curia's withdrawal from Research Association of New Zealand as a result of being challenged for poor practice.
Well done Bryce,
I admire the efforts you are gong to.
Just as all parliamentarians should have to record all contact with lobbyists, they should also have to record who the lobbyist is ultimately being engaged by and have a public record available for everyone to see of all lobbyist contact.
Thanks for doing this work Bryce. You are one of the few bright lights in a sea of patetically subservient media, both in New Zealand and throughout the west. It's gloomily dark out there for those who had believed New Zealand mainstream media to be free of manipulation, frank and fearless. Keep holding the torch..
Go Bryce!
Thanks Bryce I can give you feedback on CCC and Local Government issues nationally which come in front of me.
Local money donations can be traced.
But what about international influences, such as the UN. How will you determine the integrity of influence and information that is used by Government officials from the likes of the UNFCCC and the IPCC.
Can you please explain.
Hi Bryce.
Whilst those that read your articles would all agree that the lobbying issues need to be resolved, there is far too much ablaze in the moment for the general public to get behind the necessary reforms.
Sadly, I think it will never change as nz is far too small and interconnected for an outsider to come along and smash it to pieces.
The Crux Of The Foreign Privately Owned Bank Fraud That Is Killing Our Country.
An email trail released in an official information request reply from the New Zealand Treasury makes it very clear to anyone with a half a brain exactly what is the greatest cause of the economic instability New Zealand is suffering.
That being due to the price of land, price of sales of existing housing and the cost of mortgage interest not being included in the measure of inflation for monetary policy adjustments, has allowed the foreign privately owned investment banks that provide our money supply as loans owed to them, to loan much more of their computer typed money creating credit into the non export producing residential housing sector than than the productive sectors or the people of our economy could ever afford.
In the emails a bunch of young Treasury policy wonks are conversing about how they have just realised the fact that the price of land or the sale of existing houses has not been accurately accounted for in the measure of inflation for decades and the detrimental impact of this upon New Zealand society given how the banking sector has taken advantage in lending more into housing than should ever have been allowed.
Back in 1999, the price of land and sales of existing houses was removed from the equation for measuring the level of inflation for monetary policy adjustment.
Many argued at the time and many since that this would be a great moral hazard essentially removing the bells from the Interest Rate Inflation Targeting alarm system, which would allow the banking sector to lend unsustainable amounts of written credit for the destructive unproductive trading of already existing houses for capital gains on the land price.
Former Minister of Finance Grant Robertson has written of his concerns about house pricing not being adequately accounted for in the measure of overall price inflation.
Many impeccably credentialed people among international regulatory agencies condemned Interest Rate Inflation targeting as an outright failed system after the 2008 fraud-induced global financial crisis.
Yet to read these young policy wonks having these "quiet" discussions, asking such questions as "why, is there interest being shown from the parliament" reminds me of looking at a picture of young boys running onto an old battlefield and playing with unexploded artillery shells not having a clue of the danger, as some more senior people are quietly trying to encourage them to put them down and move away.
A sample here:
From: Matthew Galt [TSY] <Matthew.Galt@treasury.govt.nz>
Sent: Wednesday, 13 January 2021 10:44 am
To: Bastiaan van der Scheer [TSY] <Bastiaan.vanderScheer@treasury.govt.nz>; Chris Parker [TSY]
<Chris.Parker@treasury.govt.nz>; Gabrielle Groube <Gabrielle.Groube@treasury.govt.nz>
Subject: FW: Media Release: Reserve Bank's response to Minister of Finance
Hey Bastiaan, Chris and Gabbi,
I’ve been further pondering how housing enters the CPI and increasingly coming to the view that urban land is significantly underrepresented. The home ownership component only includes construction costs because the land is treated as an asset. To me, this unreasonably overlooks the significant consumption cost of urban land (whether measured as the direct land price, imputed rents, or mortgage costs), and inflation of urban land costs has been, if anything, the rising price of greatest social concern over the last decade. Urban land is included to a minor extent –
it’ll be indirectly captured in market rentals and real estate fees (to the extent that these are correlated with house prices), but owner-occupied urban land costs are otherwise omitted. I’ve outlined my thoughts in a bit more detail in the email below from December.
I’m wondering what the CPI would look like if it had, say, 5% weight on urban land (whether measured as direct land price, imputed rents, or mortgage costs). Do you know what the best long term nationwide time series of urban land prices would be? Would it be REINZ median section prices?
Cheers, Matt
From: Matthew Galt [TSY]
Sent: Friday, 11 December 2020 11:44 am
To: @Macroeconomic and Fiscal Policy <MacroeconomicAndFiscalPolicy@treasury.govt.nz>; Bastiaan van der
Scheer [TSY] <Bastiaan.vanderScheer@treasury.govt.nz>; Chris Parker [TSY] <Chris.Parker@treasury.govt.nz>; VictorKuipers [TSY] <Victor.Kuipers@treasury.govt.nz>; Stephen Revill [TSY] <Stephen.Revill@treasury.govt.nz>; Siobhan
Duncan [TSY] <Siobhan.Duncan@treasury.govt.nz>; Leona Feng [TSY] <Leona.Feng@treasury.govt.nz>
Subject: RE: Media Release: Reserve Bank's response to Minister of Finance
In full here:
[https://www.treasury.govt.nz/sites/default/files/2022-04/oia-20210332.pdf]
Here in New Zealand during the Five Yearly Monetary Policy Committee Review process the topic of if Real Estate is measured accurately enough in the CPI measure of inflation used for monetary policy adjustments, the private banking sector won the day over those that raised concerns, with basically been judged it should remain the same because the public now trust it:
Treasury Advice on the Reserve Bank's Proposed Scope of Remit Advice Information Release
https://www.treasury.govt.nz/sites/default/files/2022-10/rbnz-info-release-tr-1724_2.pdf
"The measure of prices and housing costs
8
This will include a discussion of alternative price measures and how housing costs are incorporated into the CPI in New Zealand
34.
One area of concern raised in public submissions was the role of housing costs and house prices in the measurement of inflation. One submission also raised concerns around the inflationary outcomes over time for working class communities. However, most public submissions generally supported retaining the Consumer Price Index (CPI) as the price measure targeted by the MPC.
35.
While the current position of the RBNZ is that the CPI remains fit-for-purpose, given the public interest in this issue we believe there is value in including the definition, or measurement, of prices in the second consultation."
Here we sit today with the banks inside and outside of the New Zealand economy, owned by the same major shareholding few, with a clear conflict of interest, having made record profits pumping an abnormal land price bubble, with the powers that be now prescribing higher compounding interest rates as the solution as though its all our fault.
The Crux Of The Foreign Privately Owned Bank Fraud That Is Killing Our Country.
An email trail released in an official information request reply from the New Zealand Treasury makes it very clear to anyone with a half a brain exactly what is the greatest cause of the economic instability New Zealand is suffering.
That being due to the price of land, price of sales of existing housing and the cost of mortgage interest not being included in the measure of inflation for monetary policy adjustments, has allowed the foreign privately owned investment banks that provide our money supply as loans owed to them, to loan much more of their computer typed money creating credit into the non export producing residential housing sector than than the productive sectors or the people of our economy could ever afford.
In the emails a bunch of young Treasury policy wonks are conversing about how they have just realised the fact that the price of land or the sale of existing houses has not been accurately accounted for in the measure of inflation for decades and the detrimental impact of this upon New Zealand society given how the banking sector has taken advantage in lending more into housing than should ever have been allowed.
Back in 1999, the price of land and sales of existing houses was removed from the equation for measuring the level of inflation for monetary policy adjustment.
Many argued at the time and many since that this would be a great moral hazard essentially removing the bells from the Interest Rate Inflation Targeting alarm system, which would allow the banking sector to lend unsustainable amounts of written credit for the destructive unproductive trading of already existing houses for capital gains on the land price.
Former Minister of Finance Grant Robertson has written of his concerns about house pricing not being adequately accounted for in the measure of overall price inflation.
Many impeccably credentialed people among international regulatory agencies condemned Interest Rate Inflation targeting as an outright failed system after the 2008 fraud-induced global financial crisis.
Yet to read these young policy wonks having these "quiet" discussions, asking such questions as "why, is there interest being shown from the parliament" reminds me of looking at a picture of young boys running onto an old battlefield and playing with unexploded artillery shells not having a clue of the danger, as some more senior people are quietly trying to encourage them to put them down and move away.
A sample here:
From: Matthew Galt [TSY] <Matthew.Galt@treasury.govt.nz>
Sent: Wednesday, 13 January 2021 10:44 am
To: Bastiaan van der Scheer [TSY] <Bastiaan.vanderScheer@treasury.govt.nz>; Chris Parker [TSY]
<Chris.Parker@treasury.govt.nz>; Gabrielle Groube <Gabrielle.Groube@treasury.govt.nz>
Subject: FW: Media Release: Reserve Bank's response to Minister of Finance
Hey Bastiaan, Chris and Gabbi,
I’ve been further pondering how housing enters the CPI and increasingly coming to the view that urban land is significantly underrepresented. The home ownership component only includes construction costs because the land is treated as an asset. To me, this unreasonably overlooks the significant consumption cost of urban land (whether measured as the direct land price, imputed rents, or mortgage costs), and inflation of urban land costs has been, if anything, the rising price of greatest social concern over the last decade. Urban land is included to a minor extent –
it’ll be indirectly captured in market rentals and real estate fees (to the extent that these are correlated with house prices), but owner-occupied urban land costs are otherwise omitted. I’ve outlined my thoughts in a bit more detail in the email below from December.
I’m wondering what the CPI would look like if it had, say, 5% weight on urban land (whether measured as direct land price, imputed rents, or mortgage costs). Do you know what the best long term nationwide time series of urban land prices would be? Would it be REINZ median section prices?
Cheers, Matt
From: Matthew Galt [TSY]
Sent: Friday, 11 December 2020 11:44 am
To: @Macroeconomic and Fiscal Policy <MacroeconomicAndFiscalPolicy@treasury.govt.nz>; Bastiaan van der
Scheer [TSY] <Bastiaan.vanderScheer@treasury.govt.nz>; Chris Parker [TSY] <Chris.Parker@treasury.govt.nz>; VictorKuipers [TSY] <Victor.Kuipers@treasury.govt.nz>; Stephen Revill [TSY] <Stephen.Revill@treasury.govt.nz>; Siobhan
Duncan [TSY] <Siobhan.Duncan@treasury.govt.nz>; Leona Feng [TSY] <Leona.Feng@treasury.govt.nz>
Subject: RE: Media Release: Reserve Bank's response to Minister of Finance
In full here:
[https://www.treasury.govt.nz/sites/default/files/2022-04/oia-20210332.pdf]
Here in New Zealand during the Five Yearly Monetary Policy Committee Review process the topic of if Real Estate is measured accurately enough in the CPI measure of inflation used for monetary policy adjustments, the private banking sector won the day over those that raised concerns, with basically been judged it should remain the same because the public now trust it:
Treasury Advice on the Reserve Bank's Proposed Scope of Remit Advice Information Release
https://www.treasury.govt.nz/sites/default/files/2022-10/rbnz-info-release-tr-1724_2.pdf
"The measure of prices and housing costs
8
This will include a discussion of alternative price measures and how housing costs are incorporated into the CPI in New Zealand
34.
One area of concern raised in public submissions was the role of housing costs and house prices in the measurement of inflation. One submission also raised concerns around the inflationary outcomes over time for working class communities. However, most public submissions generally supported retaining the Consumer Price Index (CPI) as the price measure targeted by the MPC.
35.
While the current position of the RBNZ is that the CPI remains fit-for-purpose, given the public interest in this issue we believe there is value in including the definition, or measurement, of prices in the second consultation."
Here we sit today with the banks inside and outside of the New Zealand economy, owned by the same major shareholding few, with a clear conflict of interest, having made record profits pumping an abnormal land price bubble, with the powers that be now prescribing higher compounding interest rates as the solution as though its all our fault.
Hi Bryce,
I have had a passionate interest in Geopolitical economics and New Zealand Financial system for over 20 years.
The hierarchy of money, where our money supply has come from, under what terms & conditions, and how those suppliers fund themselves in ways that create new money rather being dependent on any already existing money, debt bonds, meaning a very different skill set of knowledge is needed by our politicians to monitor the integrity of the system.
Unfortunately, it is a skill set a demonstrable number of our politicians, here and globally, do not have, meaning they are forced to ask for help from the very foreign privately owned investment bank sector they regulate.
This, I allege, has had a massive impact on the reducing standard of living of the citizens of our nation.
The good news is that there is existing precedence of other reputable nations that have chosen to do it differently to what New Zealand remains surrendered to and many reputable globally recognised economists that can show us the way.
This video below is a summary of my over 20 years of first source, from the horses mouth research I believe proves the foreign privately owned investment banks at the top of our money supply tree have defrauded our nation by intentional debt entrapment, but most importantly how other reputable nations have combatted it.
The production is admittedly amateur but I assure you the content is first rate.
It is my gift to my nation.
I would love for you to take a look and improve upon it, as I contend the money supply issue is becoming the issue of our time:
New Zealand Financial System Madness
(Please move the cursor back to the start of the video because I can't for the life of me figure out how to come up with a link that will share it starting at 0:00)
https://youtu.be/r0hh34MAPos?si=wylrAvlLxLIwJ7l7