The Reserve Bank is getting top billing in the media these days.
Possibly the group of people with the most power over your future security and wealth, but little is commonly known about them.
Q1.
What did we do before they existed?
A.
In 1840, there was no Reserve Bank, but there was -
The UNION BANK of AUSTRLAIA , a BRITISH BANK from LONDON -
agreed with the NEW ZEALAND COMPANY -
to accompany the SETTLERS and provide them with BANKING SERVICES.
In 1844 the NEW ZEALAND GOVENOR allowed them to ISSUE their own notes.
BUT had to be a minimum of 1 POUND and redeemable in GOLD and SILVER.
Possibly the group of people with the most power over your future security and wealth, but little is commonly known about them.
Q1.
What did we do before they existed?
A.
In 1840, there was no Reserve Bank, but there was -
The UNION BANK of AUSTRLAIA , a BRITISH BANK from LONDON -
agreed with the NEW ZEALAND COMPANY -
to accompany the SETTLERS and provide them with BANKING SERVICES.
In 1844 the NEW ZEALAND GOVENOR allowed them to ISSUE their own notes.
BUT had to be a minimum of 1 POUND and redeemable in GOLD and SILVER.
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