03.11.2013 Views

Healthy Money Healthy Planet - library.uniteddiversity.coop

Healthy Money Healthy Planet - library.uniteddiversity.coop

Healthy Money Healthy Planet - library.uniteddiversity.coop

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

3<br />

because the public would then lose faith in the national<br />

currency or because the Reserve Bank would then have to<br />

admit it couldn’t control inflation? I don’t know. But it is<br />

disturbing. Banks and Governments, realise that if the<br />

existing financial system collapsed, millions would die<br />

from starvation and civil conflict before Governments<br />

could establish an alternative trading mechanism to get<br />

food transportation and civil discipline established again.<br />

There is another disquieting feature of our current<br />

money system – the spectre of financial instability. Since<br />

1971, when Nixon delinked the dollar from gold, some<br />

87 countries around the world have experienced currency<br />

crises, which in many cases have not been remedied by<br />

orthodox economic solutions. 2 This could happen in New<br />

Zealand. The Reserve Bank of New Zealand issued its first<br />

regular report on financial stability in October 2004. 3<br />

We have seen the way a network of powerful international<br />

agencies like the World Bank and International Monetary

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!