Posted 09th August 2001

Reserve Bank In Public Debate

(Photo shows Michael Reddell) Invitation: Public Debate on the question: 'That the private banks should create almost all of New Zealand's money supply' (with the Reserve Bank taking the affirmative).

We would like to invite you to a public meeting and debate on Monday August 27th, 7.30 pm at the Memorial Theatre, Students Union, Victoria University, Wellington where British author Michael Rowbotham will debate with Michael Reddell, Chief Manager, Financial Markets Department, Reserve Bank of New Zealand.

Michael Rowbotham is author of two outstanding books The Grip of Death, a Study of Modern Money, Debt Slavery and Destructive Economics 1998 and Goodbye America Globalisation, Debt and the Dollar Empire 2000. Goodbye America has been described by The Ecologist as 'essential reading for social and environmental reformers... Rowbotham's work places him on a par with social reforming economists EF Schumacher and Henry George'.The Grip of Death is strongly recommended by David Korten, author of When Corporations Rule the World, Ed Mayo of the New Economics Foundation, Herman Daly coauthor of For the Common Good , Professor Bryan Gould, Vice-Chancellor of University of Waikato and Richard Douthwaite, author of The Growth Illusion and Short Circuit. His books have been reviewed in The Ecologist, Resurgence, New Internationalist, The Tribune, The Tablet, Sustainable Economics, Permaculture Magazine, Food Magazine, Social Credit and many others. He was speaker at the March 2001 UK Green Party Conference, and has been secretary of the UK Christian Council for Monetary Justice.

Michael Reddell graduated from Victoria University of Wellington in 1983 with a BCA (Hons) degree in economics. He joined the Reserve Bank of New Zealand in late 1983 as an economist and has held various management positions ever since. Between 1985 and 1987 he worked as an economics adviser in Papua New Guinea, on secondment from the Reserve Bank. From 1993 to 1995 he held an IMF-sponsored position as senior adviser on economics and the development of financial markets to the Bank of Zambia. He has had wide-ranging involvement with many of the Reserve Bank's key monetary policy and financial markets issues.

Rowbotham's visit to New Zealand has been sponsored by NZ Democrats and the chairperson for the meeting is Grant Gillon MP.

A range of organizations has been invited,including political parties, student and senior associations, business groups, environmental groups, church and social service groups, and we would be delighted if you would take the opportunity to join us at this important debate.

RSVP to finlay.thompson@vuw.ac.nz.

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