full image - Repost: Thanks to John Key Banker, NZ bank deposits are uninsured. (from Reddit.com, Thanks to John Key Banker, NZ bank deposits are uninsured.)
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Thanks to John Key Banker, NZ bank deposits are uninsured.NZ remains the only member of the OECD NOT to have complied with the post GFC OECD directive to provision bank deposit insurance to protect citizens and businesses from bank failures.John Key then PM refused to comply and instead imposed a regime whereby bank customers will pay for the losses should any NZ fail.The Labour government has been working (very slowly) to fix this and against resistance from the bankers cartel that Key now leads as Chairman of the ANZ, but as of today your bank deposits remain exposed to the risk of seizure and confiscation.Bitcoin is a safe haven against the parasitic bankers usury and rentseeking.
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