How money printing & inflation erode purchasing power | nzherald.co.nz

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  • Опубликовано: 14 май 2024
  • The Governor of the Reserve Bank of New Zealand explains how the expansion of money supply and higher consumer prices have eroded people’s purchasing power.
    Videography / Editing | Carson Bluck | Mark Mitchell
    00:00 - Intro
    01:01 - Inside the RBNZ
    03:02 - Interview with Adrian Orr
    03:57 - Recession & rates
    05:59 - Bank competition
    06:56 - Inflation
    14:12 - Tax cuts
    15:02 - Money printing
    17:24 - Purchasing power
    20:40 - Trust
    24:48 - Regulation
    27:34 - U.S Fed influence
    28:32 - Outro
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Комментарии • 482

  • @luketyron
    @luketyron Месяц назад +53

    You asked the questions that the public want answers to, which is the role of a good journalist. Good job Madison.

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад

      Yeah but the answers were, he dumbed the audience down while telling her not to dumb the audience down. The governor is the inflated entity which people must control not him meddling with the people's economy. Totally upside down...

    • @nickduff8003
      @nickduff8003 Месяц назад +3

      Nah sorry. Madison is out of her depth. She has a very poor grasp of macro-economics but doesn't realize it.

    • @algoodsfx939
      @algoodsfx939 Месяц назад

      Stealing wealth From future generations to pay for war now 😂😂😂

  • @geecee1288
    @geecee1288 Месяц назад +63

    A NZ journalist that asks intelligent questions and lets the person answer them. Gosh this is quite a novel experience.

  • @jaydeeeable
    @jaydeeeable Месяц назад +15

    Great interview, I though both speakers did a good job. Madison because she asked some tough questions, which a journalist should do. Andrew because he did a decent job of explaining the system. There's a lot to dislike about the system, but he explained it well and also shared other resources for public to read.

  • @grizzz6884
    @grizzz6884 Месяц назад +19

    17.50 , so the real inflation is 19% , thankyou madison , for getting the truth rate out on the air waves

  • @adsdft585
    @adsdft585 Месяц назад +29

    He does not seem mention government spending alot.

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад +7

      Well he enabled it, so wouldn't admit he messed up. He is the inflated one, not people's economy.

    • @BlackCoinCrypto
      @BlackCoinCrypto Месяц назад +2

      Government decided to spend money, he decided how much that money costs. The government should have a cohesive plan that includes a sound monetary policy, they did not. It's his job to do what he is told regardless of what he wants. We vote the government in they make the policy's, and the Reserve bank must follow those instructions. Blame the only we voted in....

    • @numnum5
      @numnum5 Месяц назад

      Because you see where the money went. into the economy, infrastructure, to do that needed to hire heaps of people, had to train and upskill 90% of them businesses did well because govt support them, alot of them grew and imporved significantly after covid and FINALLY dairy! it boomed becuase the dollar fell too, so more export. So overall the economy grew. Once covid ended the govt got in alot fo people to cater to our business needs and with the huge population coming in means govt starts wracking $$$ too.

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад

      @@numnum5 quite the opposite, the government wasted billions of $ on projects with ZERO value for the economy. Making the government bigger not to "cater" for the business but wasted on ethnic BS and green nonsense while importing coal. Some businesses did well due to the lockdowns while the governor is blaming people for sitting in their homes and shopping online.
      Not to add how much the government helped big pharma and banks make out of people's pocket, at the same taxes increased.
      So you see... all the pressure is on the people to pay billions back while people's wages are lowered and has less value, prices are higher, while the inflated governor wants a round of applaud for saying maori words and "being transparent" dumbing the audience down.

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад

      @@numnum5
      quite the opposite, the government wasted billions on projects with ZERO value to the economy. Making the government bigger not to "cater" for the business but wasted on ethnic BS and green nonsense while importing coal. Some businesses did well due to the lockdowns while the governor is blaming people for sitting in their homes and shopping online.
      Not to add how much the government helped big pharma and banks make out of people's pocket, at the same time increasing taxes.
      So you see... all the pressure is on the people to pay billions back while people's wages are lowered and has less value, prices are higher, while the inflated governor wants a round of applaud for saying maori words and "being transparent" dumbing the audience down.

  • @soundsgood12
    @soundsgood12 Месяц назад +28

    Being transparent and accountable should not be seen as a challenge. It's a basic government responsibility to the people they serve and right it’s long overdue. To speak of becoming more transparent because everything has become further disordered dysfunctional is to little to late. Now most will suffer due to bad governing bad management! How politics, finance and the health system work should be taught at school from a very early age as it allows everyone to be on the same page same reality to be better prepared to best meet all of our basic needs. It’s the education systems that are obviously not teaching what's actually important. We need to look at what’s seriously lacking as more of the same schooling is showing us over an over again, it needs serious attention!

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад +1

      It would lead to communism- not that that's a bad thing, kiwis understand Marxism less than they understand fractional lending, the global economy, or the swift system. But I totally agree. A friend once said, "i didn't even understand politics until my mid-30s." I thought my story was pretty similar, I hated it but was forced to fumble my way, then do my own research. But you're right. Imagine a world where our kids graduate high school with unit standards in political science and history. Actually, it's a little scary - they're still emotional kids, and we're talking about the stuff that creates social justice warriors.

    • @markreynolds1112
      @markreynolds1112 Месяц назад

      communism is a bad thing ...u gt tht wrong@@myresponsesarelimited7895

    • @beachboynz
      @beachboynz Месяц назад

      If you can cheat at the monetary base level (central bank) then society denigrates from the core. End the cartel of central banking around the world and let's regain a level playing field. Bitcoin is the answer!

  • @watchingyou4571
    @watchingyou4571 Месяц назад +11

    The worth of fiat money ALWAYS declines with time, as more and more gets created/printed through debt.
    Thats a central bank system. Fiat is meant to lose it’s value over time. This guy waffles on but the actual fact is the inflation is due to the BIS and him and not ordinary people.

  • @LuccaWeber1
    @LuccaWeber1 Месяц назад +82

    People are affected by inflation far more quickly than they are by a stock or property market crisis because it directly impacts their standard of living. The current level of negative market sentiment is not surprising. To survive in this economy, we urgently need your assistance. The ETF/Equity market continues to fluctuate. My portfolio of $370K is laid bare in ruins

    • @emmaarmando
      @emmaarmando Месяц назад +3

      Indices frequently go from a bear market to a bull market when the news is at its worst and investor confidence is at its lowest. This demonstrates how quickly the direction of the market may alter.

    • @noah-greene
      @noah-greene Месяц назад +2

      You need a Financial consultant to avoid being taken advantage of. They offer personalised advice to individuals based on their risk tolerance and investment capital. They do have a great reputation and some do have a strong track record to go along.

    • @spacecadet6
      @spacecadet6 Месяц назад +2

      @@noah-greenewho is your advisor please, if you don't mind me asking?

    • @noah-greene
      @noah-greene Месяц назад +1

      'Gertrude Margaret Quinto' maintains an online presence. Just make a simple search for her name online.

    • @elease.eichersli
      @elease.eichersli Месяц назад

      She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.

  • @MichaelAlex-bt1pn
    @MichaelAlex-bt1pn 26 дней назад +52

    the government tried masking economic challenges and unsustainable spending. Their interventions risk a recession, overlooking the hardships faced by everyday persons

    • @MichaelJaw-hv9uu
      @MichaelJaw-hv9uu 26 дней назад

      Efforts to stabilize the economy have weakened the stock and housing markets, straining banking profits. Low interest rates and liquidity injections have inflated asset values, posing risks to these sectors

    • @MarjorieRyanJoy
      @MarjorieRyanJoy 26 дней назад

      correct. yet, despite the challenges in the stock, housing, and banking sectors, there are opportunities to capitalize on market shifts. I've personally seen returns of $605k with this approach

    • @SaraNisha-fw4uk
      @SaraNisha-fw4uk 26 дней назад

      I tried the same, but didn't have your luck with the results

    • @MarjorieRyanJoy
      @MarjorieRyanJoy 26 дней назад

      not luck. the credit will go to research, it led me to Emily ava milligan, a top fund manager. 300 grand to this, certainly not

    • @Joe900-px3nt
      @Joe900-px3nt 2 дня назад

      I copied her name and pasted it into my browser, her website popped up. It's hard to find tangible examples like this for reference, thanks

  • @matmooNZ
    @matmooNZ 27 дней назад +1

    These interview series are really well done. Great work!

  • @martinlukes9962
    @martinlukes9962 Месяц назад +9

    15 mins onwards...Backing Fiat Currency... NZ all sold our Sovereign Gold in 1992. Since communicating with the RB for last 2 years AND my local MP. on this business , Gold has appreciated in Value from NZ$2800 to NZ$3700 .
    In that same time period Central Banks around the world have been buying record amounts to back their fiat currencies. AND be a future Store of Value.
    Derisking our soveriegn fiat currency and system should surely be an elected MP's responsibility or a Government employees in the Reserve Bank? Revisiting Gold should surely be an option.
    ---
    With Gold now breaking out from the US$2000 and the US debt costs spiralling expect gold to appreciate towards and past US$2500 in 2024. With gold in NZ$ heading past NZ$4000. This would be a great asset on our collective Balance Sheet

    • @user-ed7mz9zo7h
      @user-ed7mz9zo7h Месяц назад +3

      How about Bitcoin?

    • @watchingyou4571
      @watchingyou4571 Месяц назад +6

      Correct, but they don’t want you to think about gold and silver Because that is real money that holds actual value. No, they want you to believe in the paper and digits - the ones they control the value of.

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад +1

      Why do you think these AHs destroyed Libya? from the richest African country to a slave market.

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад +1

      Why do you think people like this AH destroyed Li bya?

    • @crankhandle
      @crankhandle 18 дней назад

      ​@watchingyou4571 the main problem with gold is governments can't run huge deficits because the can't get more gold easily. They like to spend so they steal through inflation instead

  • @jiaweike3518
    @jiaweike3518 Месяц назад +7

    New Zealand dollar is depreciating in value against the USD. How is the New Zealand dollar going to appreciate in value?

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад

      As soon as people get rid of inflated AHs like him.

  • @davestanton3822
    @davestanton3822 Месяц назад +10

    Brilliant analysis Madison!
    Devaluing our savings and inflating our assets by printing money gives us the delusion of getting richer.

    • @kevinhall1671
      @kevinhall1671 Месяц назад +1

      Delusion for some, but it hits the middle class and lower in reality. Government and the reserve bank served the big pharma, banks and big corporations really well with people's money trusted to them. People now have to pay back plus interest for decades.

    • @carlywright5127
      @carlywright5127 Месяц назад

      ​@@kevinhall1671exactly cheap borrowed money for them on our debt burden. One big party for corporation and stock market.

  • @OoCI37
    @OoCI37 Месяц назад +4

    Well done Madison you were prepared and he was not. We need more journalists like you. I’ll be subscribing

  • @RamKrishanPathak-lb6pp
    @RamKrishanPathak-lb6pp Месяц назад +1

    Great interview and what a badly informed governor. She kept asking how printing money impacted economy and inflation specifically. But he hesitated to answer and even confronted here with useless logic. Kudos to her. One of the best anchors I've seen.

  • @ankitpatel2247
    @ankitpatel2247 Месяц назад +4

    Great interview Madison. Very impressed with your work and questions

  • @aranf7950
    @aranf7950 Месяц назад +1

    Refreshing to see a journalist engaging in a good faith balanced interview asking the questions for All Nzers

  • @andrewking9435
    @andrewking9435 Месяц назад +16

    All because you hold a NZ bank account doesnt nean you trust the system!

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад

      As if slaves trust their owners. He is the inflated one not the people's economy. Someone must shrink these AHs down so they can't play with a whole country then blame people for sitting in a couch while in lock down and ordering online...

    • @kevinhall1671
      @kevinhall1671 Месяц назад +2

      Someone said he is the inflated entity not the people's economy 🤣

    • @crankhandle
      @crankhandle 18 дней назад +1

      Totally agree, we hold a nz bank account because it's the nz currency not because it's trust worthy.
      On the other hand borrowing currency to buy assets like gold, stocks, property ect is a bet against the nz dollar.

  • @stevejamieson2172
    @stevejamieson2172 Месяц назад +3

    Fantastic informative interview. Asking the hard questions without trying to get the 'gotcha' as mentioned at the end. The quality that is generally lacking in NZ media.

  • @p30ple69
    @p30ple69 Месяц назад +13

    The histamine levels got right up there when he tried explaining why world inflation happened. Rubs nose. No mention of US money printing. Rubs nose

  • @andrewking9435
    @andrewking9435 Месяц назад +30

    You cant print more Bitcoin at will.
    He just contradicted himself..saying fiat currency is unit of account and store of value after saying he printed $100b

    • @AmonAnon-vw3hr
      @AmonAnon-vw3hr Месяц назад

      How do I access my bitcoin if the power grid goes out?

    • @peterthomas3138
      @peterthomas3138 Месяц назад +1

      With you cell phone 😂

    • @greeneggsandsam7490
      @greeneggsandsam7490 Месяц назад +2

      I don’t. But, pray tell, how would you use your credit card or transfer $1k to a family member in need… if the power grid goes down?

    • @andrewking9435
      @andrewking9435 Месяц назад +1

      @greeneggsandsam7490 bitcoin or not shops with eftpos etc are already connected to internet and power grid.
      Dont get your point. You can use back up generator or solar at home if u want

  • @martinlukes9962
    @martinlukes9962 Месяц назад +6

    ...the ESG Narrative, that has seen lack of capital investment in Baseload Energy (think Oil / Gas / Coal / Nuclear) will see Oil / Gas Prices stay high. We are at Risk of Energy cost inputs spiking. With Inflation returning fast like the 70's. Throw in a Geopolitical Black Swan and oil back to $150...? Fortunately enlightened nations investing in Nuclear. But here we remain focused on relying on imported Oil and banning access to our Oil, Gas and Coal. Idealism may be a Risk for Us in the Future.

  • @Rizwan-Ali
    @Rizwan-Ali Месяц назад +3

    This is a very well-prepared and researched interview; I feel well confident about the NZ economy after this. thank you for that.

  • @algoodsfx939
    @algoodsfx939 Месяц назад +17

    Thank you for your interviews Madison

  • @lookaroundlouie8452
    @lookaroundlouie8452 Месяц назад +3

    Brilliant. Great work and please keep going on this. ❤

  • @fpv88hsv
    @fpv88hsv Месяц назад +4

    A great opportunity offered up and taken. This is a vital piece that’s been missing from many of our financial decision making kits. We’ve heard what Adrian had to say, so it’s up to us on how we use that information. Hopefully if this becomes a regular segment, than Madison can implement those “gotcha moments” on our behalf if warranted.

    • @happipat3374
      @happipat3374 Месяц назад +1

      What gotcha moment did you see in the interview?

    • @fpv88hsv
      @fpv88hsv Месяц назад

      @@happipat3374 Oiee…”if warranted”

    • @fpv88hsv
      @fpv88hsv Месяц назад

      @@happipat3374ah yes I see how you may have gotten a bit confused.

    • @fpv88hsv
      @fpv88hsv Месяц назад

      @@happipat3374you didn’t watch till the end did ya.

  • @shazbot7192
    @shazbot7192 Месяц назад +11

    Nice interview, well researched. Interestingly, bitcoin IS a unit of account, store of value, means if exchange. Old school thinking right there. Adrian would have struggled to see the value of the internet in the early days too IMO.

    • @silverslaya
      @silverslaya Месяц назад

      What value are you storing with BC?

    • @shazbot7192
      @shazbot7192 Месяц назад +2

      ​​@@silverslaya same as with gold, silver and so on. We value things that are scarce, can be transfered to others easily and quickly, has a finite quantity, can't be copied, printed, inflated, faked or double spent. All those do not apply to gold, which can be faked, can't be easily transferred, can be copied (paper gold), does not have a fixed supply. If gold goes up in price, gold miners are incentivised to dig for more. There is much more, but you need to do your own research.

  • @shkottrendezvous6644
    @shkottrendezvous6644 Месяц назад

    Great again! I like watching your interviews Madison. I’m in Japan so highly relevant. Thank you. 🙏

  • @James25809
    @James25809 Месяц назад +13

    Seriously good interview. Keep asking him the questions he doesn’t wait to answer. Good job Madison.

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад +3

      She could follow up stronger. Asked why people are blamed, answered by blaming people sitting and ordering! while corporations made record high profit and continue to do so. He is dumbing down the audience by deflecting on his responsibility.

    • @happipat3374
      @happipat3374 Месяц назад +3

      A little on the lightweight side, I thought, but then, media so often reaps rewards (ie readership) by reinforcing inadequacies in the general public's understanding of the issues involved.

  • @impartialinterest
    @impartialinterest 28 дней назад

    well done on that interview. I feel that you struck the correct balance between respect and also holding the Governor to account. I've always liked Mr. Orr, he has a tough job and he is far more accessible to the population than his predecessors.

  • @AlexanderKrugloff
    @AlexanderKrugloff Месяц назад +4

    Thank you Madison! What a great talk. You are brave enough to ask some sharp questions. And nice jacket by the way, is it has a hole on the back?

  • @paulranjitkumar4939
    @paulranjitkumar4939 Месяц назад

    You have done excellent job.
    Keep up the good work
    Thanks
    Paul

  • @1philliph
    @1philliph 29 дней назад

    Good job Adrian Orr.
    If I remember correctly, Orr said a while back that he wanted to educate the people about what the Reserve Bank could and could not do.

  • @mmm1x
    @mmm1x Месяц назад +18

    The Bitcoiners have seen this coming for many many years. Inflation will never stop.

  • @yvonnecharsley297
    @yvonnecharsley297 Месяц назад +1

    Great interview💯

  • @Battleneter
    @Battleneter Месяц назад +1

    Inflation is "effectively" a tax and the NZ Reserve Bank have a mandate to maintain the 1-3% inflation tax, this also helps the GDP numbers and the government books. Due to way too much money printing over Covid, the Reserve Bank is panicking and going nuts with interest rates, not realising it takes 1-2 years for any rate adjustment to have an effect.

  • @mitheory3757
    @mitheory3757 Месяц назад

    Very good interview asking the right questions plus the explanations from the Governor were fairly thorough I thought and informative thanks.

  • @Freedom4NME2025
    @Freedom4NME2025 Месяц назад

    I found this interview very informative thank you 👏🏽🙏🏽

  • @benprice2946
    @benprice2946 Месяц назад

    Good interview Madison you went straight to the source and asked some key questions around money printing, inflation and strength of the dollar or lack their of lol. The big problem with having an inflating monetary system is the money itself looses purchasing power over time. Hard assets increase in price only further dividing wealth equality with those that hold only dollars.

  • @Pumba_PIG
    @Pumba_PIG Месяц назад

    Good interviewing. Thanks.

  • @trevenen8882
    @trevenen8882 Месяц назад +4

    Thanks for bringing this up years later

  • @serena-yu
    @serena-yu Месяц назад +1

    He is right. RBNZ is the most transparent central bank. Australian RBA has been in a secret operation waiting for everyone to guess.

  • @trevandtina6323
    @trevandtina6323 Месяц назад +7

    The Ardern, Robertson legacy, a crippled economy

    • @Albanynorthshore
      @Albanynorthshore Месяц назад

      100 percent agreed

    • @scuffed69420
      @scuffed69420 Месяц назад +1

      You clearly don't know how screwed you really are going to be by the end of this government's term.

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад

      Na this didn't just fall out of the sky, bending the knee to America did this. 40+ years ago.

    • @AmonAnon-vw3hr
      @AmonAnon-vw3hr Месяц назад

      @myresponsesarelimited7895 try 100 years lol.
      It all started when the west joined the wrong side in 1939.

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад

      @AmonAnon-vw3hr
      I suppose there's an argument to be made for cause and effect, but it's pretty eternal, more of a chicken and egg argument where you get further from issues that are directly related, sooner or later your blaming a butterfly that flapped it's wings on the the other side of the world.
      However, it was RogernomicsReaganismThatcherism... (whatever you want to call it) ...that hollowed out our Western economies, taking us from societies built on cooperation and savings - to cultures built on individualism, and consumerism, with economies based on debt.
      🤷‍♂️

  • @mechanichead1711
    @mechanichead1711 Месяц назад +1

    Great interview.

  • @honewhetstone1732
    @honewhetstone1732 Месяц назад +4

    Brilliant interview. NZ journalism is safe and well.

    • @kevinhall1671
      @kevinhall1671 Месяц назад +1

      For adrien it is. For the people not so much.

  • @andrewking9435
    @andrewking9435 Месяц назад +3

    Re the labour market. Jobs are being offshored. Its not a local market its a global market

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад +1

      Corporations make record high profit and are happier to pay overseas companies more to do the same job. Both corporations and reserve bank act against NZers. Who knows why. Follow the money!

  • @carlohernandez3941
    @carlohernandez3941 Месяц назад

    Nice work Madison. Many of us would be very interested to see hard questions put the RBNZ about the plans for and the purpose of the central bank digital currency which the bank is working on. It's incredible that a new form of money is being created by our government owned central bank, without any in-depth coverage and investigation by the media.

  • @adsdft585
    @adsdft585 Месяц назад +2

    Many reserve banks have been buying lots gold. To back the currency.

    • @lannyjr1042
      @lannyjr1042 Месяц назад

      Haha gold has no place in modern central banking. Besides gold can be fake and hard to verify. World needs to move to bitcoin standard.

    • @AmonAnon-vw3hr
      @AmonAnon-vw3hr Месяц назад

      @lannyjr1042 cool, even more state control lol.

  • @hamishg12
    @hamishg12 Месяц назад +1

    I think they need to seperate monetary debasement (increasing the Reserve Bank Balance sheet) from general economy supply/demand derived inflation

  • @JohanThiart
    @JohanThiart Месяц назад +3

    The culture wars that one see on blog site comments show that many understand that inflation is caused greedy businesses. That is clearly not correct.
    So one should expect the RB to do better when communicating inflation.

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад

      ...it is all connected though. You can't hollow out system backed by gold or capital to one backed by debt without a few crooked businessman and women.

    • @JohanThiart
      @JohanThiart Месяц назад +2

      @@myresponsesarelimited7895 that argument leads one to hating “money lenders” and merchants who create so much value. Minorities have been targeted in different parts of the world at different times through the ages.
      Anti-semitism is an easy example.
      It is a typical response by humans who understands and practices bartering. Bartering only gets one so far…..
      The great libertarian, Thomas Sowell explains this very well. (That is what Pinker calls Sowell)
      One has the choice between victimhood and sacrifice. The narcissist chooses victimhood as his vehicle to power.

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад

      @JohanThiart doesn't matter where it leads mate, only whether or not it's true, if you don't understand the economic ideology that got us here you'll run that elite simp every time, get off the coolaid, you must have money to be so liberal in your economics, were you closer to the sharp end of the Rogernomic sword- you wouldn't believe in trickle down bs or right wing American free market theory. There is no free market, and there are no competitive businesses that don't employ bottom-up business practice. You have to be ruthless to compete with ruthless businessmen and women. And before you say it- they may do philanthropy in the millions, but they do harm in the billions.

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад

      @JohanThiart as for antisemitism- that term is thrown around willy-nilly these day's, one only needs to be anti zionists to get labeled with that old chestnut. It's like how black Americans comedy used to purposely overuse that "it's cause I'm black, right?" Joke when things obviously had nothing to do with racism.

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад

      @JohanThiart also your victimhood spiel is another American trope - "it's because they're lazy and just want to sit on the couch watching TV and eating potato chips." You're not as rich as you think, and next year, you'll see how benevolent our corporate overlords actually are, corporate socialism for the too big to fail or jail, and rugged individualism for you and I.

  • @DamianoFS
    @DamianoFS Месяц назад +1

    great interview

  • @carloscarvalho-vc8bs
    @carloscarvalho-vc8bs Месяц назад +1

    Very good interview.

  • @sbineshs5674
    @sbineshs5674 Месяц назад

    Great ❤ Excellent question 👌 must appreciate the Governor

  • @kiqueenbees
    @kiqueenbees Месяц назад

    Fiat money used to be based on gold. Instead of having to cart it round, or hide away, a paper document as in an IOU, which could be redeemed in gold. But gold is limited in quantity unless more is found. Ergo fiat money gets restricted in bill numbers. But a bit of a confidence trick then occurs, and, more paper money is put into circulation and inflation follows.

  • @virendragupta5818
    @virendragupta5818 Месяц назад +1

    RBs across the globe have failed in handling economic growth during and after covid but RBNZ has failed miserably bringing all new zealanders to a situation that its actions didn't have repercussions for its actions . What is ironical is many of them including the Governor gets to keep its job while people in general are hurting endlessly

  • @ratpro3677
    @ratpro3677 Месяц назад

    Thanks MAdison for intelligent questions. You are a brave girl

  • @matthewrankin3556
    @matthewrankin3556 Месяц назад

    awesome job. I had little faith people would ask real questions. I'm glad you did. you could of told him bitcoin has pumped while fiat got ripped 😄. hope to watch more of you in future. enjoyed your Cathy wood interview as well.

  • @janrothen
    @janrothen Месяц назад +2

    Why do we have to pay taxes, when the gov can just print unlimited currency?

  • @AB-mt2cy
    @AB-mt2cy Месяц назад

    Great interview!

  • @colinboggust2950
    @colinboggust2950 Месяц назад +1

    Good interview.

  • @reonpaterson8154
    @reonpaterson8154 Месяц назад

    excellent interview

  • @IntrepidValue
    @IntrepidValue Месяц назад +2

    you should regularly interview Adrian

  • @jamiefoote9940
    @jamiefoote9940 Месяц назад +2

    Nice one, Madison.

  • @cpnurseries
    @cpnurseries Месяц назад +4

    Good interview - the quality of the questions shows a stark contrast to other media in NZ..... this interview took me back to the 1980's and 1990's.... when journalists actually were independent and not bought and paid for by the Labour Government.... Well done Madison.

  • @harribarri1141
    @harribarri1141 Месяц назад +1

    Good report

  • @waxeye6488
    @waxeye6488 Месяц назад

    Inflation is always profit led. As companies become more monopolistic they increase prices or price gouge. The figures show this. Alongside this is regular escalation of executive pay while always aiming to limit worker pay.

  • @tergo3731
    @tergo3731 Месяц назад +4

    Good Interview. Money printing during covid saw too much money chasing too few goods. We had supply disruption, workers staying home & a government ramping up its spending. Either central banks all miscalculated that demand would stay high while supply of goods & services was low or they did it on purpose. The only easy levers to float off government debt is through inflation & immigration. Both of which we have now. The only real but hard path to prosperity is through productivity not money printing.

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад

      People spending peanuts online while in lock down was nothing compared to Government wastage of billions of $ printed on BS wo ke project with NO value.
      He is the inflated entity not people's economy.

  • @MartinVanRijswijk
    @MartinVanRijswijk Месяц назад +14

    Madison made a good effort to try and keep Adrian Orr honest. Being the Keynesian economist that he is, he was assertive in defending a failing global economic system. I like the way Madion tried to push him on what inflation really is, and her question around '"Do you think there is still general trust in the central banking system?" Trust in central banks is steadily eroding due to their support of weak governments that are addicted to debt (spurred on by voters who dont want to see them tighten the nation's spending). As Milton Friedman famously said: “Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” Adrian Orr in partnership with Miss Ardern and Mr Robertson panicked and entered a period of unprecedented money printing. The NZ economy and Kiwis are paying the price today for their lack of nerve. The hole they created is not going away anytime soon.

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад +1

      Agreed, how are we so paradoxically clever, and stupid at the same time 🤦‍♂️

    • @NaturalExplorerNZ
      @NaturalExplorerNZ Месяц назад +1

      Well said, you really addressed the bottom line that this discussions 'apolitical' nature failed to state plainly.

    • @sandworm9528
      @sandworm9528 Месяц назад

      Friedman's theory was debunked by the 2008 crisis. The fact people still buy his shit shows they learnt nothing

    • @kevinhall1671
      @kevinhall1671 Месяц назад

      He is absolutely neoliberal market puppet who made billions for big Pharma, banks and corporations with IMF pulling his strings. Now he is happy that the corporations can hire on lower wages than before inflation went up!!!

    • @happipat3374
      @happipat3374 Месяц назад

      Commercial banks assets jumped from $584 billions immediately prior to our Covid emergency to $700 billions three years later. Obviously, a huuge erosion of trust in our banking sector, not.

  • @David-yo5ws
    @David-yo5ws Месяц назад

    I'm holding off investing in the markets, cause I don't see any stability long term. So I am holding my money in the banksters investment term deposits, till I feel I can transition at a later date. This interview confirms the NZ economy is more stable than other countries and Adrian has been a long term head, with his head screwed on tight.
    This gives me confidence that I can hold my retirement investment in the bank, before I 'jump ship' to a share portfolio. Not all my Easter Eggs are in 1 basket, I have some in a balanced portfolio.

  • @richardstephenson5563
    @richardstephenson5563 Месяц назад +2

    Great interview! Tough questions were asked, and I think the Governor came across better for it. In hindsight big mistakes were made with the quantity and duration of stimulus as well as being so slow to tighten after inflation had already started soaring but at least RBNZ are acknowledging the errors and lessons learned, more so than the FED and ECB. I hope they adjust their models, start putting more weight on real time data and are far less interventionist in the future. There’s no free lunch with any intervention and especially with monetary stimulus.

  • @kevinhall1671
    @kevinhall1671 Месяц назад +10

    After making billions of $ for the big pharma, banks and corporations he is successful on his mission to give them labour with wages lower than before inflation went up. He is simply doing his job...

  • @myresponsesarelimited7895
    @myresponsesarelimited7895 Месяц назад

    Radica Desi, Michael Hudson, and Ben Norton of geopolitical economy cover this well, also, Sean Foo, Lena Petrova. Adam Schiffe (doctor doom) ...Yanis Varafaukus, Gary Stevenson ...etc

  • @gsttaka
    @gsttaka Месяц назад +3

    Great interview indeed, loves how Adrian Orr responsed to the "Trust in central banks" :) Please show our appreciation to them, and give them some credits

  • @Yaackov1
    @Yaackov1 Месяц назад +1

    U have I packed availability buy forcing corporate supplies so there can be no choices or competitive pricing & availability across most industries, SHAMELESSLY!

  • @anneliu3816
    @anneliu3816 Месяц назад +4

    I am glad he mentioned:" we printed on the piece of paper". Monetary system is a man made process. Hope more people can truly understand what money and capitalism really is about. Thanks.

  • @mandoleenebando429
    @mandoleenebando429 Месяц назад +7

    This might be a hurdle we can't jump but we have to find a way to stop digital identity and cbdc its pretty much game over when it comes into play

    • @touch3010
      @touch3010 Месяц назад +1

      Yea that pretty much the equivalent to the mark of the devil................and I'm not very religious

    • @martylukes4654
      @martylukes4654 Месяц назад +1

      Yup. The Ultimate Human Control AI Tracking Tool

    • @taataenua9679
      @taataenua9679 Месяц назад

      that is why we invest in btc baby. sovereign money

    • @mandoleenebando429
      @mandoleenebando429 Месяц назад

      @@taataenua9679 Bitcoin is garbage bro🗑️🚮 ive made over 260k from pepe wif and tao this year already thats only 3 coins that i have go for low cap alts im in it for 100x plus not 2x 3x 5x

  • @numnum5
    @numnum5 Месяц назад

    People kept thinking it was gonna be like the last GFC. but it literally just the lockdown, like a switch instead of a slow increase.

  • @noelreid1345
    @noelreid1345 Месяц назад

    What I don't understand is why, if everything was being done "by the book", did Grant R indemnify Orr/the Res Bank for their money-printing activities? AND, did you see the super-expensive carvings at the entrance to their building? How the heck do they justify this during a cost of living crisis and recession??

  • @petervaneeden3651
    @petervaneeden3651 Месяц назад +2

    Tell us about CBDC and when will it happen and will we lose cash?

    • @algoodsfx939
      @algoodsfx939 Месяц назад

      Not good for us crypto is the future of finance but CBDC big problem for us but a decentralized financial system

  • @pennyjackson5026
    @pennyjackson5026 Месяц назад +1

    Well done with some of the hard questions. However you should have included
    1. CBDCs
    2. Bail Ins
    3. Lack of competition
    4. Intrusive privacy issues with lending money,
    5. if our fiat money system is backed up by the general public being seen. as the guarantee to back the fiat system , who owns the assets?
    6. Why does our fiat monetary system lack a real back- up like gold instead of printing money from thin air?

    • @sandworm9528
      @sandworm9528 Месяц назад +1

      Read Keynes. Gold standard was deflationary and caused depressions

    • @pennyjackson5026
      @pennyjackson5026 Месяц назад

      😂 At least currency was backed up by a asset that had value and has been used for millennia as money in a gold backed currencyYou are deluded if you think that gold caused depressions.
      The system we have now is printing money out of thin air, as is carbon credits!
      And the people are now the guarantees for banks and their greed and derivatives. What do you think Bail-Ins are?
      It’s when a bank fails it means that by law, and Adrian Or, Grant Robertson and the Labour government signed bail ins as law in 2020. This means when a bank fails it can now legally steal your deposits to keep it afloat.
      As our banking system has no gold backed currency and banks only keep 1% of depositors money, because they are lending it out as derivatives, what happens in a bank run?
      Worse than a depression my friend. Kensian economics is a socialist and communist monetary system.
      AND the 4.7% Adrian or mentioned as inflation, was caused by money printing.
      The CPI index is a lie as well. These are just figures that are not related to the real CPI, if you add increase in interest on mortgages, government taxes, rates etc. It’s a fabrication and the real cost of living if you added these factors in would be in the double digits.
      I am of the opinion that we have been in a recession for the last two years and headed for a depression by 2025.
      And that my friend has nothing to do with gold and everything to do with banks, and governments.

    • @andrewking9435
      @andrewking9435 Месяц назад +1

      @sandworm9528 problem was nixon went off the gold standard because of US overspending.
      Having a gold anchor doesnt cause depressions

    • @pennyjackson5026
      @pennyjackson5026 Месяц назад

      How is it that my reply was deleted?
      Perhaps my reply was too honest and blew off the lies and deception that everybody is supposed to swallow?
      However I will repeat a few titbits.
      Kensian economics is Marxist, socialism and ignorant in the extreme. IT is designed to create a debt based monetary system with fiat currency, i.e nothing to back up the little bits of paper and Adrian Ors slight if hand in writing a number on a piece of plastic.
      He and all the other bankers and governments want to keep people ignorant that inflation was caused by him printing money from thin air.
      IT HAS nothing to do with a war in Ukraine, supply issues etc.
      He, Grant Robertson and the Labour government signed in Bail In policy in 2020.
      Basically legalising the theft of money by confiscating a depositors money should a bank fail. Thus all 4 OZ banks can now keep your money under Bail In policy if they collapse.
      If a run on the banks takes place the banks will shut the doors because under the rules governing money now, a bank can lend out the same dollar multiple times and doesn’t need to have any assets, like gold to back it up, whilst only being required to keep a fraction of money in the vaults. Thus they wouldn’t have your money in the vaults to pay out in a bank run.
      Recession, if you count taxes, rates, interest on mortgages etc in the CPI index has been with us for a very long time. With those factors inflation would show as being in the double digits and has been for the last few years.
      A depression and crash is just around the corner and the crash will be nasty because banks have already collided with governments to bring in draconian CBDCs and tokenising of peoples assets, like their home. One thing Or was honest about was the fact that the backing for the fiat lie is the people in the street. Now GDP can be calculated as how much each NZer owes with our deficit.
      Banks and their legalised systems are nothing but a Ponzi scheme.
      If everybody realised that the money they owe on their debts has been lent out multiple times, from thin air. and that the interest they pay is being triple dipped, Or said 8/1 I believe, people would be in an uproar. The banks right now are worried about alternative currency like metals and Bitcoin.
      When the whole house of cards collapses they have already put in place Bail Ins and CBDCs and the ability to tokenise them peoples assets.

    • @pennyjackson5026
      @pennyjackson5026 Месяц назад +1

      It appears as if my replies are getting deleted. Someone is sensoring my replies. Interesting.

  • @Rangi325
    @Rangi325 Месяц назад +2

    Trible the money supply and claim to be their to promote monetary stability. Lol. What a joke. We wernt born yesterday.

  • @Itsmylife414
    @Itsmylife414 Месяц назад +1

    Curb inflation

  • @elizabethglaser1397
    @elizabethglaser1397 Месяц назад +1

    Brilliant explanation of banking using terms that most people can understand and great interview asking hard questions that many New Zealanders are wanting answers to. Thank you both

  • @watchingyou4571
    @watchingyou4571 Месяц назад +3

    Food , your labour, property, valuable goods stay the same, they don’t lose value.
    It is money itself that loses value, thats why more of it is needed to by the same piece of food.

    • @martylukes4654
      @martylukes4654 Месяц назад +1

      Switching fiat cash into Precious Metals one way to preserve purchasing power of the cash for future Goods and Services

  • @cpnurseries
    @cpnurseries Месяц назад +10

    The trouble is that Labour changed the mandate of the Reserve Bank. The Reserve Bank has to be politically neutral and therefore can't be seen to be saying that the economic mess that we are in is a direct result of Labour policies...... although that is absolutely the case.

    • @jpscott126
      @jpscott126 Месяц назад +1

      And printing too much money, it screwed so many people over, created a even bigger divide between the rich and poor interest rates for houses and business liquidity almost need to be separate but they are not so lowering the interest rates to revive the economy screwed over so many people that aspired to get into a house and now find themselves paying almost double.

  • @watchingyou4571
    @watchingyou4571 Месяц назад +2

    The RBNZ follow DEI and ESG policies…
    Who do you think make them do that? Where does that order come from. Not the NZ gov, they follow the same orders.

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад

      Who tells us where to send the troops?...

    • @AmonAnon-vw3hr
      @AmonAnon-vw3hr Месяц назад

      @myresponsesarelimited7895 the same people telling you how terrible it is for people in Gaza.
      Funny that.

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад +1

      @AmonAnon-vw3hr really? 🤭 ...is that why our troops went to fight Ansaralla (Houthies), in the red sea, and the overlords swear it's not related to gaza?...🤔🤦‍♂️🤦‍♂️

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад

      @AmonAnon-vw3hr I'm talking about America- who are you talking about?...

  • @adsdft585
    @adsdft585 Месяц назад

    Do higher interest rates shift money to the owners of debt?

  • @grizzz6884
    @grizzz6884 Месяц назад

    at the end mr orr came though i was waiting for the massive over seas borrowing to to slip under the radar , because the banks only need our saving to keep mr orr happy , they can get much better rates from other overseas banks , the thing would be nice is to get this inter view seen by more people . also remember if they cut rates it will mean we are heading for a hard landing

  • @chincheong7341
    @chincheong7341 Месяц назад

    Inflation is inevitable where n when the supply of fiat money is increasing while there is no corresponding increase in real productivity of goods n services in a particular economy ...

  • @nzbrotrev9028
    @nzbrotrev9028 Месяц назад +1

    Jacking up prices erodes my purchasing power .

    • @kevinhall1671
      @kevinhall1671 Месяц назад +1

      That's what they want to "control the inflation" they created in the first place.

  • @Billabong42
    @Billabong42 Месяц назад

    What is a good metric to monitor trust in fiat currency?💲💵

  • @lowtech_1
    @lowtech_1 Месяц назад +4

    Grant Robinson, blame the mum and dad investors. It wasn't the money printing.
    And Zero rates, had nothing to do with it.
    At least Adrian, is alittle more honest, Congrats Madison , great questions.

  • @jonnytodd2185
    @jonnytodd2185 Месяц назад

    It's not established that inflation is due to an overshoot in monetary policy. Also, you need to consider the counterfactual of no stimulus and what shape that would have left the economy in.

    • @florianweingartner8489
      @florianweingartner8489 Месяц назад

      Really? The borrowing rates, which should be determined by markets, rather than central banks, ultimately determines the rate at which fiat currency is created out of thin air, not just M1, M2 but actually how aggressively the market borrows too. That is what creates the inflation, which is a symptom, not the cause. Plot some charts of cash rates and then housing prices for instance. A house is a house, but what has changed, based on what?

  • @andrewking9435
    @andrewking9435 Месяц назад +11

    Higher prices arent inflation, correct inflation is expansion of money supply.

    • @BlockchainandMoney
      @BlockchainandMoney Месяц назад

      truth

    • @user-nu8lu1ov7i
      @user-nu8lu1ov7i Месяц назад

      Which he enabled at the behest of I M F, W E F and big pharma scam. He is the inflated entity!

    • @K-LA1988
      @K-LA1988 25 дней назад

      Correct, inflation is monetary phenomenon

  • @JeffNijsse
    @JeffNijsse Месяц назад +5

    Took about 5 mins to mention Russia/Ukraine re: inflation, and still didn't agree to supply side monetary expansion.

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад

      When you look at what America wanted to happen- juxtaposed to what actually happened, "a monumental eff up" still doesn't capture the gravity of it all, makes me want to laugh and cry at the same time.

  • @adsdft585
    @adsdft585 Месяц назад +1

    I started my first job in 1977. Salary was $4000

    • @David-yo5ws
      @David-yo5ws Месяц назад

      And a pound of butter (454 grams) cost 33 cents.

  • @buildingblissnz7543
    @buildingblissnz7543 Месяц назад +13

    "The great thing about everyone holding fiat currency is that we can all be losers together!"
    That's the best related on the spot Finance joke I got! Can you beat it? 😂

    • @algoodsfx939
      @algoodsfx939 Месяц назад

      No but you can make a shit ton of money off it lessh go 😂😂😂😂😂

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад +3

      @algoodsfx939 not you son - curb your enthusiasm... you'll be lucky to own your own home, all the job's being elite twa-ts have been taken, and all the investment is already owned by them. But, as a joke- I give you a solid 8 and a 1/2.

    • @myresponsesarelimited7895
      @myresponsesarelimited7895 Месяц назад +3

      English guy walks into a bank with a steering wheel sticking out of his zipper ...teller says, "Excuse me, sir - you have a steering wheel sticking out of your trousers- client says I know! It's inflation - it's driving me nuts! 😵‍💫

    • @touch3010
      @touch3010 Месяц назад

      @@myresponsesarelimited7895 How??

  • @crankhandle
    @crankhandle 18 дней назад +1

    He seems to think stable prices are ones that increase at 2-3 percent..
    Printing currency doesn't cause economic expansion, productivity dose.
    Printing currency only steals value from previous currency and cause prices to increase.
    When money was backed by gold there wasn't inflation and the economy still grow through innovation and productivity. Prices were stable and sometimes deflationary so it was possible to save money without the hidden tax of inflation.

  • @StrveBar
    @StrveBar Месяц назад +1

    Pity you didn’t ask him about his role in taking our country’s debt from $5B to $100B over the last six years!

  • @adamdeane123
    @adamdeane123 28 дней назад

    That was pretty good, he's not the evil man i thought he was.
    Makes sense.