I have been curious about how much money we are borrowing to keep our country going and so asked the Debt Management Unit of Treasury how it worked.
Essentially they put up "Bonds" which authorized organsiations buy (most being banks). These authorized people can then onset them to whoever they want to and Treasury have no idea about who these are.
This makes a bit of a mockery out of having people "authorized" to buy them in the first instance but also raises the question about if Treasury does not know who they are unsold to how do they know who owns our debt?
The next issue was that of Fletchers Building and the email going around about that. I did the search myself and a company solely owned by Treasury is the biggest share holder. Now Treasury say that this is simply a mechanism for other people to own the shares through this company (or some such thing). If that is true then the people that do own the shares are actually not known or visible to us (and why not) so who actually owns the shares of Fletchers that are shown on the Companies Register to be owned by the Treasury Company? I know that CitiBank and JP Morgan (the ultimate corporate parasites) are also shareholders which tends to fill me with great confidence (Tui Add).
They say that this is a 20 year old practice which suggest that it must somehow therefore be OK. Child abuse and Slavery go back further but the longevity of the practice does not make it right.
My conclusion is we have no idea who owns our debt or who owns some of our major companies which is not the ideal that four generations of my family fought for, and yet we do nothing?