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Thursday, February 26, 2009

The image of you and your crap

This is a message for the whole world. Pay close attention - it's important.

Central banking is the regulation and management of the money supply and financial institutions in an economy. Fiscal policy is the spending of money on behalf of the government, and is not implemented by a central bank. Fiscal policy is implemented by the branch of government whose job it is to do so. In New Zealand, we call this branch The Treasury. We do not call it The Reserve Bank. Likewise, the Reserve Bank does not implement fiscal policy, nor is it part of the government. Consequently we do not call it the Treasury.

There is no excuse for confusing the Treasury with the Reserve Bank.

Stop doing it, or the economy will die from shame.

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