A review of things you need to know before you go home on Tuesday; NZD dollar trading surges, only one SCF director guilty, farmers reject wool levy, wholesale interest rates fall, NZD rises

NZD rising towards levels that reflect NZ boasting the highest interest rates in a developed country in the world.   

Aussie back to .94 by Xmas? 

Given that SCF owner Allan Hubbard died before the trial got underway and that he was central to the way SCF was managed, it was always going to be tricky for the SFO.

The as yet unchallenged artifice that taxpayers should regret most was National's decision to extend the SCF government deposit guarantee scheme.

Only to be challenged by this nonsense;

A carve-up of the housing portfolio in the new Cabinet has alerted the country to a radical reform the Government has in mind for state housing. If all goes to plan, the state will no longer own all, or possibly any, of the houses given to tenants at income-related rents. They will be owned and run by charities, voluntary organisations, iwi and other groups that meet standards to be set. It will be called "social housing". Read more here and here

NZ voters may wonder if they have been misled as might those in the UK when they read these headline making comments:

Starting this Wednesday, 4,000 men (and, yes, they’ll mainly be men) will gather in a giant hall in London. Among them will be major property developers, billionaire investors and officials of your local council or one nearby. And what they’ll discuss will be the sale of public real estate, prime land already owned by you and me, to the private sector. The marketing people brand this a property trade show, but let’s drop the euphemisms and call it the sales fair to flog off Britain.

For the past 25 years, this conference – Mipim for short – has been held in Cannes. It’s a jaunt so lavish as to be almost comic – where big money developers invite town hall executives for secret discussions aboard private yachts, and whose regulars boast that they get through more champagne than all the liggers at the film festival.

Suitably oiled-up, local officials open talks with multinational developers to sell council housing estates and other sites. All this networking is so lucrative for the builders that they even fly over council staff. Last year, Australia’s Lend Lease paid for Southwark’s boss, Peter John, to attend Cannes. This is the same Lend Lease to which Southwark sold the giant Heygate estate at a knockdown price: 1,100 council flats in inner London to be demolished and replaced with 2,500 units, of which only 79 will be for “social rent”. Read more

Interesting sidebar to the Iron Ore Wars here....yet another Great Game in progress.....

What is more interesting is the lack of interest and comment and true  reporting on the largest drop in USA stocks and oil and never mind the Iron grip on us all above, reported by  Waymad

Never mind China's woes and machinations.

Can do better...Maybe Wednesday will bring some true state of affairs, at close of play

Then we can all go home, cheque books intact.

Or are we supposed to think otherwise.

Maybe invest unwisely and throw good money after bad.