‘NZ delivers for Westpac and ANZ' hit the headlines in the newspapers recently while hundreds if not thousands of businesses and homeowner's have lost everything. It is time that the NZ people understood the truth and know what really happens when you take out a personal loan or mortgage with a bank. Within three months they have sold it on, been paid while you have to continue paying them back. I call that corruption and double dipping. For a number of years our currency has been electronically generated by Treasury handed to the banks who in turn multiply the amounts by up to 20 times and lend it out again. It is no wonder why they can claim to make large profits. John Key PM and former banker knows about it after all he holds shares in the US Federal Reserve where our debt is held. Incidentally that bank is privately owned.

Fred Stewart, Tauranga.