The RBNZ (Reserve Bank of NZ) is keen for public input around the future role of CBDC's in New Zealand. It would be a mistake I feel, to think this isn't a big deal.
The Reserve Bank of New Zealand is New Zealand's central bank. It was established in 1934, and although not a government department, has been wholly owned by the government of New Zealand since 1936. Like most central banks, the Reserve Bank is primarily a policy organisation, and exists to do three main things:
So, why should you care about this topic. Well if you care for a chance to grow wealth in traditional markets, you’ll need financial stability. It’s hard to make a plan with your investing without knowing the returns and the risks. Between now and when you’re ready to spend the resource you’re trying to grow now, you need to know some things will never change. Today, you’ll hear how Central Banks around the world have been looking into this space of CBDC’s for quite some time. There’s been some progress I’m sure, but now stablecoins and decentralized finance could usher in some serious creative destruction. With the arrival of Blockchain powered, decentralized networks which can form the building blocks of an alternative financial system, there’s now a reason to move forward even faster. One of the roles of the central bank of NZ is to maintain an efficient financial system – but unless they ‘step up’ to the plate so to speak, the vacuum left behind could suck in other actors that may undermine NZ’s monetary sovereignty.
It was James A Garfield who said: ‘He who controls the money supply of a nation controls the nation.”
______________________________________________________________
The NZ Everyday Investor is brought to you in partnership with Hatch. Hatch, let's you become a shareholder in the world's biggest companies and funds. We're talking about Apple and Zoom, Vanguard and Blackrock.
So, if you're listening in right now and have thought about investing in the US share markets, well, Hatch has given us a special offer just for you... they'll give you a $20 NZD top-up when you make an initial deposit into your Hatch account of $100NZD or more.
Just go to https://hatch.as/NZEverydayInvestor to grab your top up.
__________________________________________________________________
Like what you’ve heard?
You can really help with the success of the NZ Everyday Investor by doing the following:
1- Follow the NZ Everyday Investor on Clubhouse.
2- Write a review on Facebook, or your favourite podcast player
3- Help support the mission of our show on Patreon by contributing here
4- To catch the live episodes, please ensure you have subscribed to us on Youtube:
5- Sign up to our newsletter here
6-Tell your friends!
NZ Everyday Investor is on a mission to increase financial literacy and make investing more accessible for the everyday person!
Please ensure that you act independently from any of the content provided in these episodes - it should not be considered personalised financial advice for you. This means, you should either do your own research taking on board a broad range of opinions, or ideally, consult and engage a financial adviser to provide guidance around your specific goals and objectives.
If you would like to enquire around working with Darcy ([crypto-friendly]financial adviser), you can schedule in a free 15 min conversation just click on this link
_________________________________________________________