Bernard Hickey wants the Government to introduce a helicopter payment system through what he is calling a 'Matariki account."
The Editor of economic and political newsletter, The Kaka, is urging against printing more money to benefit wealthy asset owners and instead argues money should be distributed into a separate Reserve Bank account for every resident.
These Matariki accounts would be topped up with a new digital currency called the e-tāra, which is pegged to the regular New Zealand dollar.
The idea is that this would fairly and cleanly distribute Government payments, run monetary policy and back up the existing banking system in the next crisis. Bernard explains his idea to Wallace.
Matariki star cluster (also known as the Pleiades, The Seven Sisters, Messier 45, Subaru...) Photo: Unsplash / Anders Drange
