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Thread ID: 140101	2015-08-18 01:37:00	GST on overseas goods and services	Terry Porritt (14)	PC World Chat

Post ID	Timestamp	Content	User
1406931	2015-08-19 06:21:00	We manufactured here, the wars helped us at the time. Exports was booming. Interesting commercial Theory. :D So all we have to do is start Manufacturing, Start a war or two, and bank the money. :confused:	B.M. (505)
1406932	2015-08-19 07:56:00	Nooooo, don't think so. Take a look at this: (Whole article HERE (en.wikipedia.org)) On Monday 10 July 1967 ("Decimal Currency Day"), the New Zealand dollar was introduced to replace the pound at a rate of two dollars to one pound (one dollar to ten shillings, ten cents to one shilling, 5⁄6 cent to a penny). Some 27 million new banknotes were printed and 165 million new coins were minted for the changeover.[5] Exchange rate The New Zealand dollar was initially pegged to the US dollar at US$1.43 = NZ$1. This rate changed on 21 November of the same year to US$1.12 = NZ$1 after the devaluation of the British pound (see Bretton Woods system), although New Zealand devalued more than the UK.[6] In 1971 the US devalued its dollar relative to gold, leading New Zealand on 23 December to peg its dollar at US$1.216 with a 4.5% fluctuation range, keeping the same gold value. From 9 July 1973 to 4 March 1985 the dollar's value was determined from a trade-weighted basket of currencies. The NZ$ was floated on 4 March 1985 at the initial rate of US$0.4444. Since then the dollar's value has been determined by the financial markets, and has been in the range of about US$0.39 to 0.88. The dollar's post-float minimum average daily value was US$0.3922 on 22 November 2000, and it set a post-float maximum on 22 July 2011 of US$0.8666. Much of this medium-term variation in the exchange rate has been attributed to differences in interest rates.[citation needed] The New Zealand dollar's value is often strongly affected by currency trading,[citation needed] and is among the 10 most-traded currencies.[7] On 11 June 2007 the Reserve Bank sold an unknown worth of New Zealand dollars for nine billion USD in an attempt to drive down its value. This is the first intervention in the markets by the Bank since the float in 1985. Two suspected interventions followed, but they were not as successful as the first: the first appeared to be initially effective, with the dollar dropping to approximately US$0.7490 from near US$0.7620. However, within little more than a month it had risen to new post-float highs, reaching US$0.8103 on 23 July 2007. After reaching its post-float record high in early 2008, the value of the NZ$ plummeted throughout much of the 2nd half of 2008 and the first quarter of 2009 as a response to the global economic downturn and flight by investors away from "riskier" currencies such as the NZ$. The NZ$ bottomed out at approximately US$0.50 on 6 March 2009.[8] However, it rebounded strongly as the year progressed, reaching the US$0.75 range by November 2009.[8] By late 2012, the dollar was holding above 80 US cents, occasionally reaching 85c, prompting calls from the Green Party for quantitative easing.[9][10] Unions also called on the Government and the Reserve Bank to take action, but as of February 2013, both have so far declined.[11] So you see the currency value really revolves around a few that can manipulate it to their own advantage and have a Batch in Hawaii. ;) not sure which bit about what I said you are disagreeing with.... the figures in the article you posted are clearly true. what I wrote is also true.	nmercer (3899)
1406933	2015-08-19 12:32:00	So they expect this to pull in $40 million a year. That's a hell of a lot of spending to pull in that much!	Renegade (16270)
1406934	2015-08-19 20:41:00	not sure which bit about what I said you are disagreeing with.... the figures in the article you posted are clearly true. what I wrote is also true. looking at a currency's worth at a single point in time is meaningless, you need to watch it in relation to other currencies over time. Supply, demand, inflation and heaps of other economic factors change a currency's relative worth The point I take issue with is our currency was not compared at a single point in time, I was comparing it over many years, in the example posted, 48 years. And our currency’s relative worth is not attached to supply, demand, inflation and heaps of other economic factors, but rather to the whim of the treasury bench. So far they have used the English currency, American currency, and Gold price as a yardstick as the mood suited. Then, apart from selling the country’s assets, they have dumped our Cash to try and manipulate the market. I believe only a month or so ago they dumped another $500m on the market to try and drive the currency down. So you see our problem lies not with the Country and its inhabitants, but with the idiots running it. :annoyed:	B.M. (505)
1406935	2015-08-19 21:26:00	The point I take issue with is our currency was not compared at a single point in time, I was comparing it over many years, in the example posted, 48 years . And our currency’s relative worth is not attached to supply, demand, inflation and heaps of other economic factors, but rather to the whim of the treasury bench . So far they have used the English currency, American currency, and Gold price as a yardstick as the mood suited . Then, apart from selling the country’s assets, they have dumped our Cash to try and manipulate the market . I believe only a month or so ago they dumped another $500m on the market to try and drive the currency down . So you see our problem lies not with the Country and its inhabitants, but with the idiots running it . :annoyed: :+1:	paulw (1826)
1406936	2015-08-19 21:39:00	Well maybe someone would like to explain to me the following. How was it that when we had less than two million population we were one of the richest countries per capita in the world? You could get two American dollars for NZ10/- and you couldn’t cash Australian money because it was worth so much less than NZ’s. Then we often hear that it is our distance from the markets that disadvantages us. Well, believe it or not, our distance from the markets is exactly the same as it’s always been. The only difference is they used to have to use Sailing Ships and old Tramp Steamers to get the goods to market instead of today’s ships that can cut out Auckland to London in 3 Weeks as opposed to 3 Months. Big difference when you’re transporting perishables. ;) Interesting read HERE (en.wikipedia.org). So you see when I hear all the excuses of why something can’t be done, I reflect on whether our ancestors managed to do it and if so the argument doesn’t wash with me. Take a look at the reconstruction of Christchurch. Hell our forefathers would have rebuilt the place in the time it’s taken them to get the right coloured sticker on the damaged properties. We were one of the richest countries in the world because we could not buy anything! You could not buy a new car unless you had overseas currency. There was no choice in the shops. You could only take a small amount of cash out for overseas travel. OH, and the Uk bought all of our lamb and butter.	Digby (677)
1406937	2015-08-19 22:01:00	Well maybe someone would like to explain to me the following. How was it that when we had less than two million population we were one of the richest countries per capita in the world? You could get two American dollars for NZ10/- and you couldn’t cash Australian money because it was worth so much less than NZ’s. Then we often hear that it is our distance from the markets that disadvantages us. Well, believe it or not, our distance from the markets is exactly the same as it’s always been. The only difference is they used to have to use Sailing Ships and old Tramp Steamers to get the goods to market instead of today’s ships that can cut out Auckland to London in 3 Weeks as opposed to 3 Months. Big difference when you’re transporting perishables. ;) Interesting read HERE (en.wikipedia.org). So you see when I hear all the excuses of why something can’t be done, I reflect on whether our ancestors managed to do it and if so the argument doesn’t wash with me. Take a look at the reconstruction of Christchurch. Hell our forefathers would have rebuilt the place in the time it’s taken them to get the right coloured sticker on the damaged properties. And you would spend 3 weeks in hospital with a toothache, and still plenty of beds, quite a few questions that need answers, but not forthcoming.	Cicero (40)
1406938	2015-08-19 22:28:00	How was it that when we had less than two million population we were one of the richest countries per capita in the world? Its true in the early 50's NZ was doing very well compared to other countries . . . . . . . . . . . . compared to other countries savaged by that wee war 5 years earlier compared to other countries who were near bankrupt, trying to rebuild destroyed cities and industries, trying to pay back massive war debt to the US By the 1970's it was completely different, NZ's economy was acknowledged to be a basket case, one of the worst in the OECD . We were being compared to Turkey .	1101 (13337)
1406939	2015-08-19 23:13:00	Its true in the early 50's NZ was doing very well compared to other countries..... .......compared to other countries savaged by that wee war 5 years earlier compared to other countries who were near bankrupt, trying to rebuild destroyed cities and industries, trying to pay back massive war debt to the US By the 1970's it was completely different, NZ's economy was acknowledged to be a basket case, one of the worst in the OECD. We were being compared to Turkey . After WW2 we were also bankrupt hence the reason that we could only buy British made stuff. They would buy our butter and we would buy their junk..	paulw (1826)
1406940	2015-08-20 00:24:00	Scrap Income Tax, GST, Customs duty. Have a "Transaction Tax" taken care of by the Banks (including Credit cards). You would be taxed on what you spent, not your income. Scrap cash, or make it illegal to pay more than $100 Cash for any transaction.	mzee (3324)
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