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Time for the Political Left to look at Sovereign Credit to fund our infrastructure
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Time for the Political Left to look at Sovereign Credit to fund our infrastructure
The greatest mistake Labour did over Covid, was that they borrowed the money from private banking rather than do what Mickey Savage did, create Sovereign Credit! In the 1930s–40s, the first Labour Government (Savage & Fraser) used the Reserve Bank to directly finance social housing, infrastructure, and employment schemes. This was sovereign credit creation — money issued into the economy for public purposes. New Zealand used sovereign credit cre…
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