Public Gold
Sovereign sharna made this Official Information request to Reserve Bank of New Zealand
The request was partially successful.
From: Sovereign sharna
Dear Reserve Bank of New Zealand,
The public have a right to fully know what is being done with the public's gold that wasn't returned to the rightful owners. And why it wasn't returned to the public.
A, What kind of security is backing the notes? Are you talking securities such as Birth Certificates? Is the payment via a copy of the Birth Certificate the exemption that was provided to the public, including yourself.
B, Something of value (gold) was provided to the Bank. And the gold wasn't returned to the public. Thus, what item of value was returned to the public?
You can't take something of value and not return the equal or equivalent value back to the owner. That just sounds like Theft.
Please answer the question in full. The question was straight to the point.
Yours faithfully,
Sovereign sharna
From: RBNZ Info
Reserve Bank of New Zealand
Kia ora,
Thank you for contacting the Reserve Bank of New Zealand Te Pûtea Matua.
Please note that this is an automatic reply to acknowledge that we have
received your email.
HOLIDAY HOURS
We will have limited capacity over the holiday period (24 December to 4
January) and there might be a delay in getting back to you.
In the meantime, our website contains answers to [1]frequently asked
questions.
How we’re supporting the COVID-19 response
We have been working closely with the whole of Government and industry to
keep our financial system stable ensuring foreign exchange, debt and money
markets are operating efficiently and at low cost.
For more information on the range of initiatives we’ve got for New
Zealand’s economic recovery, please see the [2]COVID-19 response page on
our website.
Is your business financially affected by COVID-19?
To get more information on key COVID-19 business support packages and how
to access them, check out this [3]resource guide from The Treasury.
Firms we regulate
The Reserve Bank is the prudential regulator of banks, insurers, and
non-bank deposit takers (NBDTs).
· [4]List of registered banks in New Zealand
· [5]List of licensed insurers
· [6]Register of licensed NBDTs
Complaints about banks, insurers, and NBDTs
If you have a complaint, please deal directly with your bank or insurer in
the first instance. You can also contact the [7]Banking Ombudsman, the
[8]Insurance and Financial Services Ombudsman, or the [9]Financial Markets
Authority.
Looking for information about the strength of the financial system?
Check out our [10]Bank Financial Strength Dashboard. You can also read our
regular assessments of the economy and the financial system:
· [11]Monetary Policy Statement
· [12]Financial Stability Report
Please note that the Reserve Bank is not authorised to give legal or
financial advice. Please contact a lawyer or a financial adviser instead.
Banknotes and Coins
· [13]Returning old or damaged currency
· [14]The Future of Cash
· [15]Security and counterfeit detection
· [16]Using images of currency
We’ll be in touch as soon as possible.
Ngâ mihi
Reserve Bank of New Zealand | Te Pûtea Matua
******************************************************************************
"This message (and any files transmitted with it) are confidential and
may be legally privileged. If you are not the intended recipient please
notify the sender immediately and delete this message from your system.
This message does not necessarily reflect the views of the
Reserve Bank of New Zealand. If the recipient has any concerns about
the content of this message they should seek alternative confirmation
from the Reserve Bank of New Zealand."
******************************************************************************
References
Visible links
1. https://www.rbnz.govt.nz/faqs
2. https://www.rbnz.govt.nz/covid-19
3. https://treasury.govt.nz/news-and-events...
4. https://www.rbnz.govt.nz/regulation-and-...
5. https://www.rbnz.govt.nz/regulation-and-...
6. https://www.rbnz.govt.nz/regulation-and-...
7. https://bankomb.org.nz/the-complaint-pro...
8. https://www.ifso.nz/complaints/
9. http://www.fma.govt.nz/contact/make-a-co...
10. https://bankdashboard.rbnz.govt.nz/summary
11. https://www.rbnz.govt.nz/monetary-policy...
12. https://www.rbnz.govt.nz/financial-stabi...
13. https://www.rbnz.govt.nz/notes-and-coins...
14. https://www.rbnz.govt.nz/notes-and-coins...
15. https://www.rbnz.govt.nz/notes-and-coins...
16. https://www.rbnz.govt.nz/notes-and-coins...
hide quoted sections
From: RBNZ Info
Reserve Bank of New Zealand
Dear Sovereign,
Thank you for the following official information request of 4 January
2021:
A. “What kind of security is backing the notes? Are you talking
securities such as Birth Certificates? Is the payment via a copy of the
Birth Certificate the exemption that was provided to the public, including
yourself.
B. Something of value (gold) was provided to the Bank. And the gold
wasn't returned to the public. Thus, what item of value was returned to
the public?”
We will endeavour to respond to your request as soon as possible and in
any event no later than 15 February 2021, being 20 working days after the
day of your request. If we are unable to respond to your request by then,
we will notify you of an extension of that timeframe.
Charges for providing official information and publishing responses
The Official Information Act allows charges to be imposed for the
preparation of information that we send in response to requests. The
Reserve Bank is resourced to meet disclosure obligations for a reasonable
level of requests. Where the request is for information that requires
substantial collation, research and preparation work, and is chargeable,
we will work with you first to refine the request to a smaller scale or
scope that is less likely to involve charges.
Responses to official information requests are published on the Reserve
Bank’s website. We will confirm in our decision letter to you whether we
intend to publish our response to your request.
Further information about charges and publishing responses is available on
our website at
[1]www.rbnz.govt.nz/research-and-publications/official-information-requests.
Yours sincerely
Tobias Vandenberg
Ministerial & OIA Adviser | Reserve Bank of New Zealand | Te Pûtea Matua
2 The Terrace, Wellington 6011 | P O Box 2498, Wellington 6140
DDI: + 64 4 474 8628
Email: [2][email address] | [3]www.rbnz.govt.nz
******************************************************************************
"This message (and any files transmitted with it) are confidential and
may be legally privileged. If you are not the intended recipient please
notify the sender immediately and delete this message from your system.
This message does not necessarily reflect the views of the
Reserve Bank of New Zealand. If the recipient has any concerns about
the content of this message they should seek alternative confirmation
from the Reserve Bank of New Zealand."
******************************************************************************
References
Visible links
1. http://www.rbnz.govt.nz/research-and-pub...
2. mailto:[email address]
3. http://www.rbnz.govt.nz/
hide quoted sections
From: RBNZ Info
Reserve Bank of New Zealand
Good afternoon S Sharma,
Please find attached our response to your official information request of
4 January 2021.
Let me know if you have any questions.
Kind regards,
Tobias Vandenberg
Ministerial & OIA Adviser | Reserve Bank of New Zealand | Te Pūtea Matua
2 The Terrace, Wellington 6011 | P O Box 2498, Wellington 6140
DDI: + 64 4 474 8628
Email: [1][email address] | [2]www.rbnz.govt.nz
******************************************************************************
"This message (and any files transmitted with it) are confidential and
may be legally privileged. If you are not the intended recipient please
notify the sender immediately and delete this message from your system.
This message does not necessarily reflect the views of the
Reserve Bank of New Zealand. If the recipient has any concerns about
the content of this message they should seek alternative confirmation
from the Reserve Bank of New Zealand."
******************************************************************************
References
Visible links
1. mailto:[email address]
2. http://www.rbnz.govt.nz/
hide quoted sections
Bijou Smith left an annotation ()
In addition to the RBNZ response, you might consider the legal issuer of NZ dollars are (a) registered banks and (b) the Parliament/Treasury (via votes for appropriations in Parliament). The "value" (general price level) of the NZ dollar is therefore what the government law & policy says you have to do to earn it (wages, social welfare/pension payments and collateral required for bank credit). The redemption of NZD is only for payment of tax, fees, fine and levies issued by the NZ government or its agents. No gold, no foreign currency is promised in redemption for NZ$1. In short: tax liabilities (and IRD enforcement of them) are what now "backs" the NZD. Taxes (if trusted and enforced) are always sufficient to drive demand for a fiat currency.
Things to do with this request
- Add an annotation (to help the requester or others)
- Download a zip file of all correspondence
Offensive? Unsuitable?
Requests for personal information and vexatious requests are not considered valid requests for Official Information (read more).
If you believe this request is not suitable, you can report it for attention by the site administrators
Report this request
Mr Rodgers left an annotation ()
NZ dropped the gold standard before the First World War.
There is no gold.
Link to this