While I am no friend of Donald Trump or, since recent times, Winston Peters, I have to admit that Peters is correct on this point. New Zealand's central banker should not be interfering in the affairs of any other central bank, and neither should other central bankers interfere in New Zealand (which they have traditionally regarded as their rightful prerogative).
However, regardless of what the Governor of the Reserve bank has done (side with her Nordic kith and kin, which is understandable, and with New Zealand's traditional allies Canada, Australia and the UK, which would normally be unobjectionable to those in government) it is interesting that Winston Peters has once again decided to follow the lawless, manic and dangerous path of Donald Trump which can only end in catastrophe for the US and its principal allies, including New Zealand.
I can understand that "And as over a dozen global central bank leaders have just warned us, what happens in the US matters worldwide". That means that President Trump is complicating the job of New Zealand's Reserve Bank.
How, then, to respond?
One way is to jump, or cautiously place a toe, into the cesspit of US politics.
I suspect that will have no positive effect, and could have negative consequences, which may concern Winston Peters, but would not particularly worry me.
The other way is to restructure New Zealand society and the economy in ways that do not leave it so vulnerable to the whims of a man who is both mad and dangerous.
Anna Breman cannot do that. As I understand it, she is not even a New Zealand citizen and she has very little connection to this country. That, is why she was chosen for the job, and therefore it is deeply ironic that Peters told her to "stay in her New Zealand lane".
I see this situation somewhat differently. The stability and viability of the global financial system, of which the US remains a key player, is definitely in the "lane" of all Central Bankers. Unlike Phil Goff as London's High Commissioner, the Reserve Bank is meant to be independent. And the continued independence of the Federal Reserve is important for US financial markets and the dollar. Powell has been a measured, reasonable Chair despite ongoing political pressure from Trump to bend to whatever he directs as an increasingly authoritarian leader. NZ continues to tread a very fine line pandering to Trump and not speaking out on some of his administration's illegal actions, most recently involving Venezuela (illegal in terms of both international and US law). The genocide and destruction in Gaza also comes to mind. Pandering to Putin on Ukraine. Decisions on how to dance that dance is obviously in the PM's and cabinet's lane, which includes Winston. When Trump moves on Greenland, Colombia, Cuba or Mexico will NZ remain quiet? Time will tell. Democracy dies in darkness. Let the woman speak the truth.
My response to Helen Raskin applies here as well. I understand why Anna Breman spoke, and I am not at all offended by what she had to say.
"When Trump moves on Greenland.. will NZ remain quiet?". I am normally wary of predicting such matters, but if Winston Peters is still Foreign Affairs Minister when the US annexes Greenland, I know what he will say. He will say that New Zealand is concerned by the situation and urges all parties to exercise restraint and to adhere to international law. Whether Greenland is annexed through diplomatic pressure, financial coercion or outright invasion he will say the same thing. He will not condemn the US. On behalf of the colonialist regime in its entirety he will, in effect, tell Denmark to get over it.
If a person was being raped outside Winston's front door his office would issue the following statement: "I am very concerned by the situation, which I will continue to monitor closely. In the meantime I urge both parties to exercise restraint and, as far as possible, adhere to the law".
While I am no friend of Donald Trump or, since recent times, Winston Peters, I have to admit that Peters is correct on this point. New Zealand's central banker should not be interfering in the affairs of any other central bank, and neither should other central bankers interfere in New Zealand (which they have traditionally regarded as their rightful prerogative).
However, regardless of what the Governor of the Reserve bank has done (side with her Nordic kith and kin, which is understandable, and with New Zealand's traditional allies Canada, Australia and the UK, which would normally be unobjectionable to those in government) it is interesting that Winston Peters has once again decided to follow the lawless, manic and dangerous path of Donald Trump which can only end in catastrophe for the US and its principal allies, including New Zealand.
Hi Geoff. Have you read the Conversation piece entitled "Why the world's central bankers had to speak up againstTrump's attacks on the Fed"?
No, but I have now.
I can understand that "And as over a dozen global central bank leaders have just warned us, what happens in the US matters worldwide". That means that President Trump is complicating the job of New Zealand's Reserve Bank.
How, then, to respond?
One way is to jump, or cautiously place a toe, into the cesspit of US politics.
I suspect that will have no positive effect, and could have negative consequences, which may concern Winston Peters, but would not particularly worry me.
The other way is to restructure New Zealand society and the economy in ways that do not leave it so vulnerable to the whims of a man who is both mad and dangerous.
Anna Breman cannot do that. As I understand it, she is not even a New Zealand citizen and she has very little connection to this country. That, is why she was chosen for the job, and therefore it is deeply ironic that Peters told her to "stay in her New Zealand lane".
I see this situation somewhat differently. The stability and viability of the global financial system, of which the US remains a key player, is definitely in the "lane" of all Central Bankers. Unlike Phil Goff as London's High Commissioner, the Reserve Bank is meant to be independent. And the continued independence of the Federal Reserve is important for US financial markets and the dollar. Powell has been a measured, reasonable Chair despite ongoing political pressure from Trump to bend to whatever he directs as an increasingly authoritarian leader. NZ continues to tread a very fine line pandering to Trump and not speaking out on some of his administration's illegal actions, most recently involving Venezuela (illegal in terms of both international and US law). The genocide and destruction in Gaza also comes to mind. Pandering to Putin on Ukraine. Decisions on how to dance that dance is obviously in the PM's and cabinet's lane, which includes Winston. When Trump moves on Greenland, Colombia, Cuba or Mexico will NZ remain quiet? Time will tell. Democracy dies in darkness. Let the woman speak the truth.
My response to Helen Raskin applies here as well. I understand why Anna Breman spoke, and I am not at all offended by what she had to say.
"When Trump moves on Greenland.. will NZ remain quiet?". I am normally wary of predicting such matters, but if Winston Peters is still Foreign Affairs Minister when the US annexes Greenland, I know what he will say. He will say that New Zealand is concerned by the situation and urges all parties to exercise restraint and to adhere to international law. Whether Greenland is annexed through diplomatic pressure, financial coercion or outright invasion he will say the same thing. He will not condemn the US. On behalf of the colonialist regime in its entirety he will, in effect, tell Denmark to get over it.
If a person was being raped outside Winston's front door his office would issue the following statement: "I am very concerned by the situation, which I will continue to monitor closely. In the meantime I urge both parties to exercise restraint and, as far as possible, adhere to the law".