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The Digital Road to a Loss of Sovereignty
How New Zealand could become a ‘province’ of China
with the flick of a switch.



You have all heard of Cryptocurrency, Digital Currency, eCurrency, the Blockchain.

Private cryptocurrencies have been around since 2008 when the ‘pseudo-personality’ Satoshi Nakamoto published a white paper on it. Bitcoin was released in early 2009.

You have watched Bitcoin soar to $30,000 USD a bitcoin only to fall spectacularly, wiping out the fortunes of pundits worldwide.

Since then, thousands of private ‘digital coin’ offerings have emerged with many not surviving much past their offering. The technology, however, has been progressing and is quite robust.

Some of the fundamental ‘primary directives’ for the creation of a digital currency are:

  • Digital currency payments are to be sent and received completely anonymously.
  • The payments cannot be tracked.
  • The payment confirmation stream is to be handled by a very secure network, having at its core a form of encryption called blockchain (a network of many duplicate encrypted copies of the transactions having no single source point of failure) which makes data impossible to break or alter.

Sovereign Cryptocurrencies

What about a digital currency created by a country? Would they still hold to these ‘prime directives’?

Simple answer: NO


A country, in order to provide fiscal transparency as well as prevent illegal business transactions (such as drug trafficking, arms sales, human trafficking, [tax evasion], and other criminal activities) will want to be able to TRACK the sending and receiving of payments as well as very clearly IDENTIFY both the sender and receiver.

Conceivably, one could also therefore track the entire financial transaction chain of a product from manufacturing to end sale — eliminating black market sales and money laundering.

Less than scrupulous countries will also want to be able to SHUT OFF and STOP the access to funds for certain citizens or groups — for national security [of course].


China: Digital Yuan

In November 2019, the China central government starts a crackdown on virtual currency initial coin offerings and cryptocurrency trading – which are already banned in the country – in response to a surge in blockchain fever.

In December 2019, China rolled out new rules governing online encryption, “paving the way for a digital version of the yuan and taking greater control over cyberspace”.

In February 2020, the People’s Bank of China (PBOC) reportedly filed 84 patents relating to its plans to launch a digital currency.

In March 2020, during the Coronavirus panic that had its entire country shut down, China announced that it would become the first country to introduce a digital version of its currency, the Yuan.

Citizens would be able to take their physical money to any bank and convert it into the new Yuan digital currency and use it to make payments using their computers and phones [and upcoming physical implanted ID chips, perhaps via Bill Gates?].

Currency Stability

Nations used to have the value of their currency tied to the amount of physical gold they held in reserve.

Uncoupling currencies from the gold standard further fuelled the form of gambling called Currency Speculation. It also, to a great extent, destabilised national currencies.

In the 1990s, Don Brash, while governor of the Reserve Bank of New Zealand, sold ALL of New Zealand’s gold reserves.

Our Official Information Act Request to the Reserve Bank of New Zealand asked the following information:

  • When did this gold sale occur?
  • How much gold was sold (weight)?
  • Was it the entirety of New Zealand's reserves?
  • What price was fetched for the sale?
  • To whom was the gold sold to?

The Reserve Bank turned down our request:

Dear Michael

Thank you for your request of 12 April 2020 for answers to the following questions regarding...

Our Response

Your request requires a physical search that cannot be safely undertaken during COVID-19 Alert Level 3. I am therefore refusing your request under section 6(d) of the OIA, as making the information available at this time would “be likely to endanger the safety of [a] person.”

We invite you to resubmit your request after the country moves to Alert Level 1. If you would like information on when you can resubmit your request, please contact the writer.

You have the right to seek an investigation and review by the Ombudsman of this decision.

Information about how to make a complaint is available at or by Freephone 0800 802 602.
Yours sincerely
------- --------------
Ministerial and OIA Adviser
Reserve Bank of New Zealand | Te Pūtea Matua

This, folks, is how you keep control of the information so that people cannot question what you are doing [and hopefully the requestors will get tired of waiting and simply sod off].

Unbelievable, really. A physical search in filing cabinets in a TOTALLY EMPTY archive is likely to "endanger the safety of a person”.

The information that I was requesting SHOULD HAVE ALREADY BEEN ONLINE as transparency would warrant, but it is not.

By the way, Dr Brash now works for the Industrial and Commercial Bank of China (ICBC).

On 18 May 2020, the Reserve Bank said ICBC will operate in New Zealand as a branch.

Curious and more curious.

Situation Analysis

One of the functions of an Intelligence Analyst is to run projections on the most probable outcomes of a situation using the current real-world data and information.

Let’s look at how we can do that here with regards to cryptocurrency and the New Zealand dollar.

Fixing the NZD to the Yuan

“A fixed exchange rate is a regime applied by a government or central bank that ties the country's currency official exchange rate to another country's currency or the price of gold. The purpose of a fixed exchange rate system is to keep a currency's value within a narrow band.” –

What would fixing the NZD to the Yuan do for New Zealand?

It would take out any currency fluctuations between the two countries. Exchange rates would remain constant. Raw materials purchased from New Zealand and finished goods purchased from China (and vice versa) would not be at the mercy of fluctuating exchange rates. This would bring some added stability to market prices across both countries.

So, from the outset this would appear to be a reasonably good idea.

The Wild Card

About mid-April we were given some information: “The New Zealand government would be releasing a digital currency in the not too distant future.”

Our analysis of this new information:

  • While New Zealand has some brilliant people [I know, I have met them], it greatly lacks in follow-through on large projects, particularly with software and data infrastructure. There is very little long-term planning.

    We don’t need to look far to see the proof:
    • The $30 Million budget blow-out of the Joint Border Management System (JBMS) — a plagued $104m IT project that was started in 2011 supposed to have finished in 2012 but may have been completed in 2019.
    • The train-wreck of Novopay, the web-based payroll system for state and state integrated schools in New Zealand, which by the start of 2015, the cost of repairing issues had risen to $45Million on top of the original $30Million cost to develop it. On top of that, the Oracle platform on which it was developed will no longer be supported after 2019 -- which means an entirely new system needs to be written.
  • A lack of a truly stable and redundant [and secure] nation-wide communications infrastructure.
  • A lack of bank-class data centres.
  • No RFQ (Request for Quotations) on any cryptocurrency endeavours by the NZ Government, Treasury, or Reserve Bank.

From this analysis, we don’t believe that the New Zealand government could or will produce a working cryptocurrency platform itself in the near future.

So, if the new data we were given were true, then how could that be accomplished? By implementing an already active sovereign-generated cryptocurrency.

Australia is not making one, and the US is still weighing the pros and cons of implementing one, so that leaves only one country who currently has one: China.

Oddly enough, the information we received was only a couple of weeks after China announced the Digital Yuan.

The Digital Silk Road

Buying into China’s digital Yuan could be accomplished in steps.

Since all of the processing hardware and blockchain would already exist in China, the first step, in actuality, could essentially be another button on the EFTPOS machine.

Integrating the cryptocurrency into the banking, IRD, and other systems could take a lot less time than one would think. Eliminating cash, a Kiwi favourite way to transact, would be the most difficult.

Extracting the system once implemented, however, would be excruciatingly problematic and costly.

Our Debt

Our national debt: government, housing, personal, business, agriculture, Councils, etc. was running between $575Billion and $650+ Billion depending on which form of ‘government transparency’ you believe.

Post-COVID-19, however:

Total New Zealand Debt as of May 2020: Between $650Billion to $725Billion
Government Debt to GDP is around 30% [no transparency].
Total New Zealand Debt to GDP is 311%+.

The amount that is owed to China by itself, is staggering — and the lack of transparency with regards to this is worthy of treason.

Having the Digital Yuan embedded into the financial structure of New Zealand would put us at an incredible disadvantage if China were to ever ‘call in’ our debt.

But we no longer have any gold reserves and there isn’t any ‘Plan B’.

The answer, in that scenario, is plain to see, comrade.

So, what the heck is going on?

Michael Stace
Research & Investigation

Something can be done about this.





The $60 Million NZ COVID
Contact Tracing App.
Where'd all the money go???


Late on Tuesday, 19 May, the New Zealand government finally released its long-awaited and much media-groomed Contact Tracing app, NZ Covid Tracer.

There is just one thing...why did it cost $60Million+ and WHERE did all that money go?

Let's take a look at this.

Contact Tracing App Australia

Australia's COVIDSAFE Contact Tracing app cost $1.5Million (which includes $700,000 for AMAZON AWS data storage). So the app itself cost $800,000 for development and operation. Such a deal!

Publicly announcing that the app "might be made MANDATORY to use", cost Australian PM Scott Morrison a lot more...

Amazon Web Services (AWS)

One of the ways the world's richest man continues to be the world's richest man (Jeffrey Preston Bezos actually made money during this pandemic while the world's economies were tanking) is to continue to invest in wanted and needed technological wonderment.

Jeff Bezos' Amazon AWS makes doing complex things in the cloud a piece of cake and has made data storage a cheap-as-chips alternative to expensive onsite data centres.

I run several web servers and use Amazon AWS for weekly and monthly backups of all of the website accounts I manage. The bill for using around 150GB of storage (including the computer time to upload the backups) costs me a whole $1.85 NZD per month. Yes, less than $2/month for fast, safe, backup security.

Australia's cost for AWS data storage for the Contact Tracing app project was $700,000. Now, remember, Australia has 25 million people, which is roughly five times (5x) the population of New Zealand.

So, proportionally, the expected cost for the New Zealand data on AWS would be around $140,000.

The CovidCard – What happened to it?

Back in April, there was much discussion from the Parliamentary Ivory Tower about a Covid Contact Tracing SmartCard. The reason was obvious: not all people have or can afford smartphones. This SmartCard could sit in your pocket or bag and still work the magic of Contact Tracing.

[Quick Aside: Contact Tracing ONLY WORKS if the ENTIRE population is using it, and statistically it fails more and more when fewer and fewer people are using it. But, there I go being all LOGICAL and realistic again...]

"CovidCard, as it is being called, works almost like the popular Tile Bluetooth tracker. But instead of simply broadcasting its presence and location, CovidCard communicates with other cards in close proximity, basically creating a log of people (or cards) you've been in contact with. When a person tests positive for COVID-19, health workers can download the log from the card and alert the appropriate
people." – SlashGear, 20 April 2020

"A private sector proposal to produce and distribute five million Bluetooth-enabled credit card-sized contact tracing tools at a cost of $100 million is one of "a wide variety of technological solutions to contact tracing", a spokesperson for the All of Government Covid-19 response team has confirmed." – Stuff, 17 Apr 2020.

Ok, now that figure is a lot closer to what we know was spent.

We were also told that this SmartCard was being looked at because the Singapore TraceTogether app was having issues with reliability.

The $55Million+ No Transparency Money Fest

On April 20th the news said:
"Prime Minister Jacinda Ardern, when extending a four-week lockdown of the country on Monday afternoon, announced the Government would spend a further $55 million on bolstering the contact tracing system." – Stuff, 20 Apr 2020.

The words "a further $55 million" are really bothersome – because NOWHERE does it state what was already spent on this project! Every article from the New Zealand media about this said the same thing ("a further $55 million"). Gees, you would think that this was a conspiracy or something. Almost like somebody was telling the free, independent, and impartial MEDIA what to say...

If you are going to throw an 'additional $55 million' into a project, then it has to be at least $5 million – $10 million already to begin with, no?

But the fact is, we really DON'T KNOW what the total spend on this COVID Contact Tracing project really is.

Questions, Questions

So, here we are with the NZ Covid Tracer app, NOT a SmartCard.

We are not being told if this app is really just the same app that the Australians are using (which is the Singaporian TraceTogether app) but simply wrapped in sheep's clothing. It is also using Amazon AWS for data storage, just like the Australian one, and says so clearly in the registration details.

Costs (by inference):
App Development and Operation: $800,000
Amazon AWS Data Storage: $140,000
Total: $940,000

$60Million – $940,000 = $59,060,000
Oh, Lucy! You have some splainin' to do!

  • Did the manufacturing of the 5 Million SmartCards fall over?
  • Did it turn into another NovaPay debacle?
  • Did 'friends of Parliament' get a windfall simply for running the project even though they didn't produce ANYTHING?
  • Will we ever see any transparency on this project?
  • Will Simon Bridges survive this week?

Enquiring minds want to know!

The answers, my friends, can all be assured by doing the right thing come September: kick this non-transparency money gravy-train out of the Bee Hive.

Michael Stace
Research & Investigation

Something can be done about this.





Seems Nobody
Has Learned from History


This past week has been a bit of déjà vu.

Where have I seen this before?

  • Horrible disease strikes the country.
  • People infected and dying.
  • Government overreacting.
  • Only a NATIONWIDE MANDATORY VACCINE can save the day!

I keep waiting for Rod Serling to step around the corner...

Swine Flu (H1N1) – North America

No, not the 2009 H1N1 pandemic that infected 1,632,710 (confirmed) and killed 18,036 [with no media hysteria or forced closures, by the way].

I am speaking of the Swine Flu outbreak at Fort Dix, New Jersey that occurred in January of 1976.


First outbreak: Fort Dix, New Jersey - United States
Confirmed cases: 13
Virus strain: Influenza A virus subtype H1N1
Number of deaths: 1
Government response: mass immunization program [!!!]

The 1976 Swine Flu outbreak response reads like a bad soap opera. There are several good sources documenting it and are listed at the end. For the purposes of this post, I will aggregate or distil the main points from those articles which occurred as they are important in relation to what is happening in New Zealand right now.

  • Swine influenza A is related to the 1918 flu pandemic, which killed 50-100 million people worldwide. This was verified by the Center for Disease Control (CDC) and the World Health Organization (WHO). [FEAR ALERT #1]
  • On February 13, CDC Director David Sencer completed a memo calling for mass immunization for the swine flu. A press conference which announced this highlighted the relationship of the flu strain to the 1918 outbreak. [FEAR ALERT #2]
  • The President, Gerald Ford, wasn't alerted to this until a month later on March 15 in a memo.
  • President Ford then met with two of the most famous vaccine scientists, Jonas Salk and Albert Sabin.
  • "In late March, President Ford announced in a press conference the government's plan to vaccinate "every man, woman, and child in the United States". Emergency legislation for the "National Swine Flu Immunization Program" was signed shortly thereafter on April 15, 1976." [FEAR ALERT #3]
  • Immediately, vaccine manufacturers called for government indemnity.
  • Pharmaceutical companies Sharp & Dohme (Merck), Merrell, Wyeth, and Parke-Davis also refused to sell doses to the government unless they were guaranteed a profit, a concession the government also eventually made.
  • The insurance industry notified the government that they would NOT cover indemnity on any swine flu vaccine product. The vaccine manufacturers refused to make the vaccines for the government unless they were guaranteed government indemnity.
  • In mid-June, the President submitted a proposal to Congress to offer indemnity to the vaccine manufacturers.
  • The CDC Assistant Director for Programs of the Center for Disease Control, Bruce Dull, stated at a conference on July 1 that there were no parallels between the current Swine Flu and the 1918 Flu pandemic. [This was ignored.]
  • Later in July, J. Anthony Morris, a researcher in the Food and Drug Administration's Bureau of Biologics (BoB), was dismissed for insubordination and went public with findings that cast doubt on the safety of the vaccine. [This was ignored.]
  • Congress passed legislation indemnifying the vaccine industry on July 23.
  • Starting in September, the nationwide vaccination program began in all of the States. [Editor's note: I remember the long line at school to get the MANDATORY Swine Flu jab using the high-tech needle-less injecting guns.]
  • "High profile photos of celebrities and political figures receiving the flu jab appeared in the media. Even President Ford himself was photographed in his office receiving his shot from the White House doctor." [FEAR ALERT #4]
  • Soon after the immunizations began, cases of Guillain-Barré syndrome (paralyzation) affecting some vaccinated patients were reported as well as some deaths from the vaccine itself.
  • In early November, Albert Sabin (the famous immunologist) published a New York Times editorial, "Washington and the Flu." He agreed with the decision to create the vaccine and be prepared for an outbreak, but criticized the "scare tactics" used by Washington to achieve the goal. He suggested stockpiling the vaccine and having a wait-and-see strategy.
  • In November, Gerald Ford lost the presidential election to Jimmy Carter.
  • States continued to report cases of Guillain-Barré syndrome (paralyzation). In all, around 500 people were documented with the syndrome. But as this could be easily misdiagnosed, no clear figure of the actual number of people afflicted could be known.
  • There were also 25 deaths from the vaccine itself, not the disease. [twenty-five (25) times more people were killed by the cure than the disease. Think about that.]
  • The immunization program was suspended on December 16.
  • Only 25% of the population was immunized.
  • $135 million USD allocated for the swine flu immunization program.
    (This is around $435 Million in today's money.)
  • The total damages sought in Guillain-Barre claims and lawsuits was $954 million. (In today's money, that would be about $4.4 Billion).

The main point from all this: NO PANDEMIC EVER OCCURRED in the United States yet the government steam-rollered the vaccine program through on the possibility that it just might. No safety testing had ever been done on the vaccine -- because there was not enough time.

"...if a new virus gets identified or reappears, you don't want to jump the gun and assume a pandemic is happening."
– Keiji Fukuda

Fukuda is an American physician with expertise in influenza epidemiology. In March 2009, Fukuda was appointed Assistant Director-General for Health, Security and Environment ad interim for the World Health Organization (WHO), and he held this position from September 2010 to November 2016.

New Zealand COVID-19

  • The PM was slow to close the borders and stop Cruise Ships, yet the media is pushing that she was one of the first to do so, which is a blatant lie.
  • Evidence from flight tracking software has shown numerous inbound flights from Asia and other countries during the lockdown period where all Asian flights and passenger flights should have stopped.
  • The day before the Level 4 lockdown, Pharmac blocked the use of hydroxychloroquine for treatment of COVID-19 cases even though it had been cleared for use and proved its efficacy for SARS-CoV since 2005! [This is a treasonous decision that may have cost lives.]
  • The PCR swab COVID-19 test used by New Zealand has a high incidence of false positives and it cannot differentiate between the seven different types of known coronavirus. In plain English, this means that a POSITIVE does NOT mean that a person has COVID-19 it only means that they may have one of seven different coronavirus strains. The tests that can 100% confirm for COVID-19 (antibody tests) are now starting to be used, but they are NOT available in New Zealand yet.
  • New Zealand has only 1,105 confirmed cases and 12 deaths which have NOT been proven post-mortem to be caused by COVID-19.
  • There is a HUGE difference between a death CAUSED BY COVID-19 and a death where the person ALSO HAS COVID-19 as not all positive COVID-19 cases result in symptoms.
  • 100% of the deaths had comorbidity with other significant diseases.
  • No health precautions were enacted to protect the most vulnerable segment of society: the old and infirm.
  • Even while the cluster of infections were emerging at the Christchurch retirement home, personal protection equipment (PPE), such as masks and gloves, were not made mandatory nor supplied to such facilities.
  • The NORMAL number of deaths in New Zealand is 90 PER DAY.
  • The number of New Zealand deaths by COVID-19 is 0.000002%.

Parallel with the 1976 Swine Flu outbreak:
Despite the unbelievably small number of UNPROVEN infections and UNPROVEN deaths, the government and media are pushing the narrative that:

We will never be safe until we are fully vaccinated.
[MEGA FEAR ALERT – woop, woop, woop]

Below is a YouTube video of a Swine Flu documentary done by CBS:

"CBS 60-MINUTES documentary on the swine flu epidemic of 1976 in the U.S. It went on air only once and was never shown again. Watch this video documentary and listen to testimony of people who caught Gullian-Barre paralysis because of the swine flu vaccine. They sued the US government for damages.

500 cases of Gullian-Barre paralysis, including 25 deaths — not due to the swine flu itself, but as a direct result of the vaccine. At the time President Gerald Ford, on advice from the CDC, called for vaccination of the ENTIRE population of the United States."

Deja Vu: The Swine Flu Vaccination Fraud of 1976

Michael Stace
Research & Investigation

Something can be done about this.






Is it About Health
The Profits and Politics?


CNN: "Trump drug, Hydroxychloroquine, doesn't work!"

Cost per dose: $0.05 // Cost per course: a couple dollars.
NY Doctor, Dr Vladimir Zelenko, has cured over 1,000 patients, no side effects.

Also CNN: "Remdesivir works!"

Cost per treatment course: $1000

Treating the 706,880 US COVID-19 cases with Remdesivir would cost nearly $1Billion. WIth Hydroxychloroquine, several million dollars.

Looks like somebody is being paid by the drug companies again.

[Remdesivir is patented and manufactured by Gilead Sciences.
Hydroxychloroquine is generic and is manufactured all over the world.]

The US CDC knew about Hydroxychloroquine for the treatment of coronavirus since 2005.

US National Library of Medicine National Institutes of Health: "Chloroquine is a potent inhibitor of SARS coronavirus infection and spread". Study done in 2005, particularly for SARS-CoV.

Michael Stace
Research & Investigation

Something can be done about this.




for New Zealand


Let us not be swayed by the sweet smile of our dear Prime Minister, Jacinda Ardern.

Right now she is in her element. THIS is what she wants for New Zealand.

Jacinda's mentor is Hillary Clinton.
Hillary Clinton's mentor was Saul Alinsky.

Do not think for a second that this 'shutdown' did not have another agenda. Unfortunately for her, the virus didn't stick to the script and Kiwis were a lot more resilient than anticipated.

Still, how many businesses will be gone after this?
How many years will it take to recoup the losses?
How many more billions in debt will be given to China?
How much greater control over the people does the government now have?

The plan:

- Increase poverty.
- Eliminate ALL guns in the hands of private citizens.
- Eliminate the middle-class and small business class.
- Increase UN involvement.
- Instigate a Universal Basic Income (UBI) paid for by whoever is left standing.
- Allow for the Bill Gates ID2020 vaccine that can identify you through ‘QUANTUM-DOT TATTOOS’.
- Release a digital currency so that all payments can be tracked [and funds turned off on specific people or groups].

In early 2008, Ardern was elected as the President of the International Union of Socialist Youth, a role which saw her spend time in several countries, including Jordan, Israel, Algeria and China.


Watch this YouTube video and be warned:

(With thanks to The BFD: )

Time to vote her and her side-kick OUT!

Michael Stace
Research & Investigation

Something can be done about this.




When is a
Not Even Close?



Ever watch Columbo on TV? Remember how, just when you thought the bad guys were going to get away with their evil deeds, humble Detective Columbo would say, "There is just one more thing..."  Then he’d proceed to solve the case with the crims and other officers in the same room. Great crime show.

What we have here today is a classic Columbo moment...

Unfortunately, This is Not An April Fools Joke

Today is Wednesday. And tens of thousands of businesses are preparing tomorrow’s wages for many hundreds of thousands of employees.

Many of them applied to Work and Income for, and were granted, MSD’s COVID-19 Wage Subsidy. And they’re now about to realise two home truths about this monumental relief package...

  1. IRD is still taking out PAYE from wages
  2. KiwiSaver must still be paid in full

Say what?! Yes, WHAT indeed.

So suddenly, that $585.80 (for full-time employees) just got a whole lot less. And the employer's savings account just got drained further.

In the Parliamentary Press Release of 17 March 2020, the Hon Grant Robertson outlined the government's $12.1 billion support for New Zealanders and business.

You can read it here:

See any mention of PAYE in there?

It’s not mentioned anywhere except on the Work and Income website:

Your employee will need to pay tax on their wage subsidy payment as it’s paid to them as part of their normal wages. This means it's subject to the usual employer deductions, eg, PAYE, Student Loan, KiwiSaver, Child Support etc.

When calculating PAYE deductions, do not gross up the Wage Subsidy component. PAYE is deducted from the subsidy (i.e. $585.50 less PAYE, etc).

From first glance, that looks OK. Until you read the guidelines VERY CAREFULLY:

If you are receiving the COVID-19 Wage Subsidy, you must try your hardest to pay the employee named in your application, at least 80% of their usual wages. If that isn’t possible, you need to pay at least the subsidy rate (ie, full-time or part-time).

Let’s run some numbers with our friend XERO.

Our employee is on a wage of $20/hour: $800 weekly + commission. They usually take home between $750-$970 net per week.

Our employee has agreed to take home $600/week during the shutdown period. Any less and it would be hard for them to make payments and eat too.

$585.80 from MSD
$ 81.80 PAYE
$ 17.57 KiwiSaver deductions
$ 17.57 Superannuation (contribution from employer)

The employee takes home: $486.43
The employer cost is: $17.57

That is less than half of their usual pay, and nowhere near the 80% asked for. So, we, the employer, make up the difference:

$150.00 from employer's savings account
$585.80 from MSD
$ 110.14 PAYE
$ 22.07 KiwiSaver deductions
$ 22.07 Superannuation (contribution from employer)

The employee now takes home: $603.59
The employer cost is: $172.07

We’re lucky. We’ve only got one employee. But I’ve got restaurateur clients with 6 full-time employees and 2 part-timers.

For them, this out-of-pocket adjustment will cost them well over $1,100 per week -- with no other income.

Add to that several hundred a week for equipment leases, and another hundred a week for their delivery van. Toss in the usual for insurance payments...and don't even mention the RENT on a completely vacant place.

Parliament's COVID-19 Wage Subsidy solution for businesses feeds IRD directly from the savings of small and large businesses in the guise of helping them.

Drake's Law: A Partial Solution, is NO Solution.

So, What Could Have Parliament Done Instead?

I keep on going back to the simplicity of the solution by Transparency Foundation (TF) written in their 'An Open Letter to the Prime Minister', a copy of which was delivered to each and every Member of Parliament including the Prime Minister.

The Letter outlined the reality of what closing the country would do to the people of New Zealand and especially the small-business owners, homeowners, and farmers.

TF issued a very workable solution: PAUSE All Payments and Interest including mortgages, rents, credit cards, taxes, etc., then restoring them once the health danger had lifted.

Michael Stace
Research & Investigation

Something can be done about this. Click on the TF website link, read the solution, then call your MP.

Transparency Foundation website:





When is a
Mortgage Holiday
Not a Holiday?

2020.03.27 [with an update at bottom]

Parliament Caught Telling Porkies

On  24th March 2020, the New Zealand Parliament passed a motion to give Kiwis a Mortgage Holiday for 6-months because of the COVID-19 situation and nationwide closures.

How nice.

The country went wild with appreciation. The Prime Minister, in full elation (seeing that this is an election year).

But what REALLY is this Mortgage HOLIDAY all about?

Let's talk to the Bank of New Zealand (BNZ) and find out...


Homeowner: My mortgage payments are $495 per week.
So for the next 6 months, I don't have to pay this and it is a free holiday?

BNZ: No, no, no, no, no. Not free. If you take advantage of this mortgage holiday we will still be charging you INTEREST for those 6 months.

Homeowner: So what is that going to cost me?

BNZ: At your interest rate of 3% on your mortgage balance of $300,000 that will add an additional $4,500 to your home mortgage and add 6-months to your mortgage term.

Homeowner: How about your "interest-only" payment plan?

BNZ: You would have to pay $750 per month for the 6 months and it will also add $7,380 to the balance of your mortgage which you will have to pay at the end of your term or we can finance that for you.

[Note: BNZ Customer Service refused to answer any questions about this even though this person has a mortgage with them. They kept on trying to force the person to APPLY for the Mortgage Holiday. All of these figures have been worked out based on BNZ's documentation.]


This is definitely not a Mortgage Holiday.


Really Big Numbers

According to the Ministry of Statistics, the total amount of home mortgages held by banks for New Zealand properties is about $275 Billion (as of November 2019).

So, let's do some math...

Let's use a basic interest rate of 3% for this example.

3% of $275 Billion is: $8,250,000,000 (or $8.25 Billion).
That is for 1-year of interest.

So 6-months of that would be $4.125 Billion.

In doing this wonderful, awe-inspiring, selfless act to help preserve the Kiwi way of life...the banks are making an ADDITIONAL $4.125 Billion in interest.

I bet that didn't take too much convincing.


So, What Could Have Parliament Done Instead?

Nearly two weeks before Parliament voted on the "Feed the Banks Some More Pork" scheme, a little-known Transparency Foundation (TF) wrote 'An Open Letter to the Prime Minister'. A copy of this letter was delivered to each and every Member of Parliament including the Prime Minister.

The Letter outlined the reality of what closing the country would do to the people of New Zealand and especially the small-business owners, homeowners, and farmers.

TF also issued a very workable solution: PAUSE All Payments and Interest including mortgages, rents, credit cards, taxes, etc., then restoring them once the health danger had lifted.

All the solution that Parliament enacted achieves is:

  1. Create more debt for homeowners.
  2. Feeding more pork to the banks.

Parliament's solution does NOTHING for small businesses and farmers. The personal and employee subsidies do nothing to pay equipment leases, vehicle leases, or rent on now-vacant shops.

In fact, many small businesses are barely able to pay their rent now. The longer we are in closure, the more businesses will go bankrupt.

Parliament's solution only helps create the illusion that help has been dealt -- in hopes that the public will be swayed to keep Labour in power come the September elections.


Michael Stace
Research & Investigation

Something can be done about this. Click on the TF website link, read the solution, then call your MP.

Transparency Foundation website:

As a few of our readers correctly noticed, the words 'MORTGAGE HOLIDAY' are actually a bank product.

It seems that Parliament has 'sold us' a bill of goods, making it look like they actually did something when in fact they have done nothing at all. How deceptive.

Labour and New Zealand First need to go.