The Reserve Bank has rediscovered it can create money, and I agree with Richard Prebble that it is causing asset price inflation and increasing inequality (NZ Herald, April 14). But his accusations are akin to a caveman discovering fire, setting himself alight, then blaming the fire.
The problem is not that the Reserve Bank is creating money, but that it is doing it wrong. The Reserve Bank is pumping money into the financial sector instead of the productive economy (infrastructure, housing, people) where it is needed. Social Credit leader Chris Leitch also predicted this misuse would cause asset price inflation.
What amazes me is that many people seem to think that creating money is always bad, but only when the state does it. When commercial banks print money, as they have done every day for decades, getting us into this high-house-price-poverty-inequality mess, Prebble is silent.
I like Prebble and have campaigned with him in the past, but he is wrong on this. What is happening is definitely not Social Credit.
Cliff Hall, Blockhouse Bay.
Ruin regrets
Everything Richard Prebble says is extremely plausible but... Some 12 years ago I attended a Ted talk by Roger Douglas at the NZ Institute of Chartered Accountants at which he predicted that the US and Europe were about to experience extreme hyperinflation as a consequence of quantitative easing.
His reasoning was hugely persuasive and supported by various economic factors of that period (and logic very similar to Prebble's). He was a little vague on timing and so is Prebble.
So, when will this ruination occur - perhaps another 12 years, or maybe 30? As with golf, timing is everything.
Rollo Gillespie, St Johns.
MIQ fees
Last year the NZ Herald printed my letter suggesting the Government collect the "managed hotel isolation facilities fees" by building the cost into the airfares, just as is done for airport landing charges, Customs charges etc. The airlines then pass these directly on to the relevant entities.
Having owned businesses, many customers have told me over the years they have no money to pay their monthly account, but suddenly find the money when they find I will not supply them any further goods until the account is paid.
The same would apply if the Government adopted this policy "money upfront please".
Refunds may apply but should be under a very tight and strict policy.
I say all this as now the Government reports there is a long list of outstanding debts accruing and seems bewildered as to why.
Tom Reynolds, St Heliers.
Rising dissent
I wonder what it takes for politicians to stand up and take notice?
Right now, across Auckland, from Waiheke, to Parnell, Western Springs, to Ōwairaka/Mt Albert, normal, every day citizens are occupying land to save their environments from destruction. Emerging groups from Save Queen Street, to Protect Mataherehere/Dove Myer Robinson Park, to Adopt a Road Cone, are increasingly commonplace on social media feeds.
Surely, those in power must recognise that across Auckland, people are deeply concerned about the damage being done to their city, in the name of "progress".
The rights or wrongs of each individual fight aside, it tells us one thing, those who hold the power, have lost the people. And if you lose the people, then you have lost the battle.
The citizens of Auckland are taking back their city. It's time Auckland Council starting listening.
Jo Malcolm, Parnell.
No moor
Where in the Kennedy Point battle does the tragedy of yet more loss feature? We're so awash with natural amenity in this city we can lose more?
Our democracy trumpets defending the needs of the many, yet will most of us berth gin palaces at Kennedy Point, bank its profits, freely access marina and surrounds? Our city saw off extension of the downtown wharf area, why would we accept the marina proposal?
If it proceeds, this will be the developer's 18th - yes, 18th - marina.
It's well past time to demand better protection of our open spaces. Give us clear views to land and sea, people on cleaner beaches, happier wildlife, beautiful coastal forests and plantings, over the exclusive sterility of a marina any day.
Project director Tony Mair fails comprehensively to defend this latest eyesore on aesthetic or cultural grounds. Apparently, they simply don't count.
And while we're at it, we urgently need to challenge Auckland Council's own inexhaustible appetite for growth and its worst effects, satisfied (until the next time) by virtually any price that won't crimp developers' profits.
J. M. Maidment, Titirangi.
Land ho
Judith Collins wants councils to "open up" more land for housing (NZ Herald, Apriil 14). I invite her to come to West Auckland where large numbers of houses have been destroyed and the land is presumably being readied for new houses or apartment buildings.
If she was to travel along Edmonton Rd she would see many acres of former vineyards which were pulled out a number of years ago and nothing has been done to the land. It is now overgrown with weeds. Maybe she could work her magic there.
Greg Cave, Sunnyvale.
Gulf threats
Ian Dunwoodie writes (NZ Herald, April 14) of the "Iranian threat", yet that nation claims it seeks nuclear technology for civilian purposes in the fields of medicine or energy.
The Trump regime withdrew from the 2015 Obama accord to limit Iran's nuclear activity, much of which is clandestine.
In contrast, the belligerence of Israel is conspicuous; the cyber-attack on Iran's main nuclear facility; the killing of Iran's chief nuclear scientist; hundreds of airstrikes on Syria; and attacks on shipping in the Red Sea and The Gulf. All in the name of defence and evoking only timid criticism by Western governments, including our own.
Janfrie Wakim, Epsom.
Single track
I refer to the excellent letter from Rae Storey (NZ Herald, April 13) in which she questions the need to duplicate our rail system. I agree. Why?
There continues to be talk of "light rail" and "heavy rail" where we really are talking about "rapid transit".
We have recently dug tunnels underground in Auckland for sewage, stormwater, roads and rail and at huge expense. Adding rail to suburban streets would be hugely disruptive during construction as we have seen with Albert St and also it would add more congestion during operation.
If we need to add to our rapid transit systems, and I think we do, continue with the current system. I vote Rae for Mayor and let's get this thing done.
Clive Couldwell, Newmarket.
Hunting grounds
Message to Jesse (Viva, NZ Herald, April 14) - there are many fine restaurants outside your inner-city happy hunting ground.
Why not step outside your comfort zone and risk being pleasantly surprised at what you find?
Many diners prefer to dine locally rather than in the city and would appreciate informed reviews of local restaurants.
Mike Groves, East Tāmaki Heights.
Short & sweet
On dining
Forty-nine central Auckland and adjacent suburbs on the list; one North Shore restaurant; and none from South Auckland, East Auckland and West Auckland? Ridiculous. H. Anderson, Rothesay Bay.
On livestock
Besides the inhumane treatment of the animals, many of whom died at sea, surely we were shooting ourselves in the foot by providing China with breeding stock which could or would, eventually destroy our meat export trade? Bob Wichman, Botany.
On TV
New Zealand has three, separate official languages. TVNZ seems intent on merging them into one. Gary Andrews, Mt Maunganui.
On inflation
I am surprised Richard Prebble (NZ Herald, April 14) did not use the words "dilution of the currency" to explain why quantative easing is causing inflation rather than Social Credit. This would have given a better understanding of what is really going on. J F Baker, Remuera.
Richard Prebble: "Everything I predicted is happening - the credit boom will bust us" reminds me of the economist who picked 11 of the past four recessions. Andrew Montgomery, Remuera.
On vaccine
When Chris Hipkins states we are more or less on target with the vaccination programme, does he mean we are doing more or less than the target figure? And, if there is a target figure, what is it? J P Kania, Long Bay.
On MIQ
How many border staff in addition to the one we now know about have not been tested?The lunatics are running the asylum. Randal Lockie, Rothesay Bay.